The Global Economic News

China's courts rule workers can't be fired just because AI replaced them and the US has no such protections Paul Kim Fri, August 14, 2026 at 8:30 AM PDT 5 min read WANG ZHAO / Getty Images In Hangzhou city, a city off the east coast of China and a major AI hub, a worker only identified by his surname Zhou, was laid off at a tech firm . Zhou's job, verifying the accuracy of large language models, was taken over by AI. His contract was terminated after he declined a lower-level reassignment with a 40% pay cut, 25,000 yuan ($3,640 USD) monthly to 15,000 yuan ($2,224 USD), according to Xinhua , a state news agency. An arbitration panel ruled the dismissal was illegal and awarded Zhou with additional severance. The tech firm filed a lawsuit with a Hangzhou district court in August 2025, which they lost. They lost an appeal in April 2026. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord wit...

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Japan Prime Minister Sanae Takaichi has criticized Russian President Vladimir Putin 's first-ever visit to the disputed Kuril Islands, saying they were "inherently Japanese territory." In a post on X, Takaichi said Thursday that Tokyo had "repeatedly requested the Russian side to ensure that the president does not visit the Northern Territories." The Northern Territories refers to the Kuril Islands. She added that Putin's visit was "absolutely unacceptable." The Kuril Islands sit between the southern tip of Russia's Kamchatka Peninsula and the northeastern corner of Japan's Hokkaido. The sparsely populated and volcanic archipelago separates the Sea of Okhotsk from the Pacific Ocean. The four southernmost islands of the chain were annexed by the Soviet Union when it launched an invasion of Japanese territory toward the end of World War II. During his trip , Putin visited the island of Iturup, where Russia operates a strategically important ...

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Hyperion Profit More Than Triples to $31M, HYPE Treasury Reaches $133M CryptoProwl Wed, August 12, 2026 at 5:01 PM PDT 2 min read HYPD HYPE Hyperion Profit More Than Triples to $31M, HYPE Treasury Reaches $133M Hyperion DeFi Inc. (NASDAQ: $HYPD) reported a second straight record quarter as gains across its HYPE treasury pushed net income to $31 million and lifted the value of its token holdings above $132 million. Second-quarter net income rose from $8.8 million in the first quarter, while adjusted EBITDA climbed to $53.7 million from $19.5 million. Gross HYPE holdings increased to $132.6 million from $71 million as the token price rose to $65 at quarter-end from $36.60 three months earlier. Hyperion held 2.04 million HYPE tokens at June 30, up from 1.94 million in March. Treasury gains reached $54.8 million for the quarter, more than double the $21.5 million recorded in Q1. More From Cryptoprowl: Bernstein Sees 100% Upside In TeraWulf Stock After Earnings Bitcoin ETFs Attract $754 Mi...

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Image source, Sophie Image caption, Sophie believes setting a reminder is the best way to avoid subscription traps By Lizzie Asante Business reporter Published 14 August 2026, 00:03 BST Updated 2 hours ago Ever been confused by a random amount leaving your bank then had that sinking feeling it's a subscription you forgot to cancel or didn't mean to sign up to? From TV streaming, to meal deliveries and beauty boxes there are subscriptions for almost everything. Often the first order is free or heavily discounted so you give it a try and tell yourself you'll cancel it before the deadline. But it's easy to forget and sometimes not straightforward. Following Prime Minister Andy Burnham's crackdown on subscription traps , three people tell us how they got into - and out of theirs. 1. Set reminders Sophie Branscombe, 23 from Wirral, says she signed up for a free trial of a photo editor app then saw a payment of 89.99 had gone out of her bank. "It was a free trial, a...

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Amazon (AMZN) Is Powering OpenAI’s Cyber Models, So Why Is The Stock So Cheap? Maham Fatima Wed, August 12, 2026 at 10:56 AM PDT 4 min read AMZN Amazon (NASDAQ: AMZN ) just gave security teams a fresh reason to watch its cloud business. On August 11, two specialized cybersecurity models from OpenAI, Daybreak Red and Daybreak Blue, went live on Amazon Bedrock for eligible customers, and AWS's own security teams are already using them to find and fix vulnerabilities faster. It's the latest step in a partnership that keeps expanding, and it lands just as investors are debating whether Amazon's spending spree will pay off. Amazon (AMZN) Is Powering OpenAI's Cyber Models, So Why Is The Stock So Cheap? Bull Case: AWS Is Quietly Becoming An AI Machine The Daybreak launch caps months of buildout. Earlier on April 28, Amazon and OpenAI announced a major expansion of their partnership, bringing OpenAI models, the Codex coding agent, and Bedrock Managed Agents to AWS in limited p...

About the New Lawsuit That Takes Aim at Extraordinary, Corrupt, and Unconstitutional’ Truth Social Subscriptions Sarah Holzmann Wed, August 12, 2026 at 9:49 AM PDT 3 min read A new federal lawsuit targeting Truth Social's subscription service centers on the newly launched Truth API product launched by Trump Media & Technology Group (DJT), which sells high-frequency trading firms and institutional investors accelerated access to President Trump's posts for $60,000 to $100,000 per month. The legal challenge filed by The Intercept Media and the Freedom of the Press Association in the U.S. District Court in Manhattan characterizes this arrangement as "extraordinary, corrupt, and unconstitutional," because it effectively monetizes presidential communications that routinely move financial markets through a company in which the president holds approximately 41% ownership via a revocable trust. More News from Barchart A $20 Billion Reason Why Intel Stock Is in Focus Dear...

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . What is inflation, and how does it affect you? Inflation affects the prices of everything from groceries to housing. K Kat Tretina Wed, August 12, 2026 at 8:18 AM PDT 5 min read Inflation is a term that refers to prolonged price increases. Put simply, inflation is the reason why your dollar doesn't go as far as it used to in the past. As prices rise, you get less for your money. For example, in March 2020, the average price of a dozen eggs was $1.53. Today, it's $2.14. You can calculate the inflation rate for a specific product or service with a simple formula: [(Current Price-Original Price) / Original Price] x 100 For example, to measure the inflation rate for a dozen eggs, you'd enter the following: [($2.14-$1.53) / $1.53] x 100 [$0.61 / $1.53] x 100 0.40 x 100 = 40 As you can see, the price of a dozen egg...

The U.S. will be applying economic measures "that have never been seen on Iran," according to Treasury Secretary Scott Bessent. "It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports," Bessent said in an interview with Newsmax, without elaborating further. His statements come as U.S. Defense Secretary Pete Hegseth reportedly said late Thursday stateside that the U.S. military can keep a naval blockade of Iran going "indefinitely." The Navy will rotate ships in and out "as we have, and we'll continue to," Hegseth told reporters. Media reports have said that the U.S. aircraft carrier USS George Washington was headed to replace the USS Abraham Lincoln, which has been deployed for over 250 days in the Middle East. Its deployment had been expected to end in May. The George Washington strike group depa...

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . How do I get the lowest mortgage rate? 8 tips you can use. Hal Bundrick, CFP Senior Writer Wed, August 12, 2026 at 5:37 AM PDT 9 min read Mortgage rates have been slowly rising over the past five months, from just below 6% before the Middle East conflict began in late February to near 6.75% this week. However, it's still possible to lock in a rate below the national average. Borrowers need to shop diligently and deploy one or more of the following strategies to earn the lowest mortgage rate possible in the 2026 housing market . See the average mortgage rate in your state. Which lenders offer the lowest mortgage rates? Analysis by Yahoo Finance of nearly 5,000 mortgage lenders reporting 20254 loan information under the Home Mortgage Disclosure Act reveals the surprising truth: the lenders offering the absolute lowest ...

Washington has been stepping up efforts to curb Beijing's technological ambitions, but from artificial intelligence to electric vehicle batteries, Chinese technology is becoming increasingly embedded in the businesses of some of the world's biggest companies. Apple has tapped Alibaba and Baidu for AI in China, while Ford has turned to CATL for battery technology. Volkswagen has teamed up with Xpeng to develop smart EVs in China, while Stellantis is expanding its partnership with Leapmotor on EV production and joint purchasing. Analysts say a broad shift is underway, with Chinese companies becoming sources of technology and innovation that global businesses cannot easily sidestep. "Five years ago, China was primarily where global companies went to sell. Today, in certain sectors, it is where they go to source capability," Kitty Fok, managing director at market research firm IDC China, told CNBC. That development comes even as Washington has expanded efforts to restrai...

Ackman buys Netflix again, four years later; says it won streaming wars Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Bill Ackman is betting on Netflix again, returning to a stock he abruptly exited about four years ago after a sharp decline in the streaming giant's shares. Ackman's Pershing Square Capital Management disclosed a new position in Netflix in its semiannual report, saying the dominant streaming platform has emerged from the industry's costly battle for subscribers with a leading market position, stronger profit margins and a valuation that has become increasingly attractive after a steep sell-off. "We acquired a position in Netflix, a business we briefly owned in 2022 and have followed closely ever since," Pershing Square said in the report. Netflix shares jumped nearly 4% on Thursday following the disclosure. The investment marks a notable return for Ackman, who built a large...

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