The Global Economic News

This report is from this week's The Tech Download newsletter. Like what you see? You can subscribe here. In the battle for AI supremacy between the U.S. and China, "distillation" has become a hot topic. The term broadly refers to the training of an AI model using the output or answers from another more advanced model. In some instances the process has been deemed controversial because a less advanced lab could use the product of a model that has taken millions or billions of dollars to create to design a competitive product. As China has continued to pump out highly advanced models which compete in some areas with their American rivals, U.S. companies and Washington have accused Chinese labs of using distillation to gain ground, denouncing their efforts as theft. But Aidan Gomez, the CEO of Cohere, says not all of China's progress is down to this technique. Gomez, who spoke to me on the latest episode of The Tech Download, is an authoritative figure in AI. He was a c...

Majid Al Futtaim Group CEO Ahmed Galal Ismail says the retail and real estate group sees a path to doubling its equity value over the next five to seven years despite regional conflict. He also outlines a nearly $30 billion development pipeline and expansion plans across the Middle East and East Africa. 🔥 EXCLUSIVE PARTNER OFFER Vxe Dragonfly R1 series Wireless Mouse R1 Se Light Weight Paw3395 Nordic52840 2khz Smart Speed X Low Delay Fps Game Mouse Gift Special Price 💥 Massive discount! Save big on this must-have item. Free shipping available! 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.cnbc.com/video/2026/09/19/majid-al-futtaim-managing-middle-east.html © EcoNews DZ — Global Economic & Financial News

'Why wouldn't you want that?' Ex-CFTC chief on the $1 Treasury fund coming to crypto wallets Jackson Alton Hinkle Thu, September 17, 2026 at 4:46 PM PDT 2 min read WT Most crypto wallets have functioned as a home for buying and selling speculative tokens. Caroline D. Pham, CEO of MoonPay Institutional and former acting chairman of the Commodity Futures Trading Commission (CFTC) , thinks they are about to do something far more important for most investors. "I do think that wallets are going to become the future, where you're going to have almost everything in your wallet," Pham said. "It's going to be your checking account, your savings account, your stablecoin wallet, your tokenized fund wallet. It's going to be your brokerage account." Related: Duolingo beats Netflix by 80 spots in new power ranking A Treasury fund in a crypto wallet The first step came Sept. 17, when WisdomTree and MoonPay announced a collaboration to expand U.S. access to...

Companies and governments are increasingly waking up to the fact that the future of warfare isn't just in the skies , but also on the ocean floor. Nations and corporations alike are devoting attention as well as piles of cash to new technologies designed for underwater use, as concerns grow about the vulnerability of critical infrastructure like connectivity cables and energy pipelines traversing the seabed. It comes amid growing concerns of so-called hybrid warfare , a broad term which can include cyberattacks, energy sabotage, disinformation, and economic pressure, with or without being accompanied by conventional military methods. "It's the changing threat environment that's brought this to the fore," Katja Bego, senior research fellow at Chatham House, told CNBC. At the same time, rapid advances in artificial intelligence, drones and autonomous technology are making new approaches to underwater surveillance possible, she said. From autonomous underwater vehic...

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Stocks making the biggest moves premarket: WDAY, GNRC, VICR, TSEM, VITL Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Check out some of the companies making the biggest moves midday: Workday Shares of the cloud-based human resources software platform rose 5%. CNBC's David Faber reported that efforts to gain financing for a bid to take Workday private are continuing, citing unidentified sources. Lucid Group The electric vehicle maker's stock added almost 9% after the chief executive told Bloomberg that restructuring work with advisors had ended, FactSet said. SiTime Shares of the Silicon Valley-based maker of micro-electromechanical system-based silicon timing products rallied almost 10% after Morgan Stanley began research coverage with an overweight recommendation and $730 price target, representing 33% potential upside from Wednesday's close. Tower Semiconductor Shares rose almost 9% after the Isra...

President Donald Trump on Friday announced an agreement with Greenland and Denmark that gives the U.S. what he described as "permanent control over security, and all other needs" in the Danish island territory. "We will immediately begin the process of developing a large Military presence in the appropriate part of Greenland, of which there are many," Trump said in a Truth Social post . Greenland already has a U.S. military presence under a decades-old defense agreement with Denmark. The deal as described in Trump's post appears to stop far short of his prior insistence that Greenland must be made a part of the United States. Greenland has maintained it is not for sale, and the European Union earlier this year united to rebuke Trump over his push to acquire the island. But Trump signaled Friday that he was satisfied by the new deal, claiming that it addresses "ALL of our many U.S. concerns." "There will be NO COST to the United States," he w...

CEO Dario Amodei says labs should more deeply embed third-party testers as concerns grow around risks associated with the technology 🔥 EXCLUSIVE PARTNER OFFER 1PC Baofeng UV 5RMINI Wireless Frequency Reading Walkie Talkie AM Long Range Multi-Band Type-C Charger Ham Radio Special Price 🎁 Special promotion! Perfect gift idea at an unbeatable price. Shop now! 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.ft.com/content/26e3749b-be69-4cd4-8db1-fa8597fb6fb3?syn-25a6b1a6=1 © EcoNews DZ — Global Economic & Financial News

Stocks making the biggest moves premarket: NFLX, NUE, XENE Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves premarket: Steel Dynamics , Nucor Shares of both steel producers fell more than 1.5% after they delivered third-quarter earnings guidance that showed weaker-than-expected results compared to analysts polled by FactSet's consensus estimates. Nucor said earnings in the steel mills and steel products segments earnings will increase, while they're expected to decrease in the raw materials segment. Netflix The streamer declined more than 3% after Wells Fargo downgraded the stock to underweight. Analysts at the bank said that worrying engagement trends and weaker content expected to be released in the second half of 2026 will lead to lower margin expansion in 2027 and 2028. Xenon Pharmaceuticals The stock sunk 25% after the company announced it was pausing e...

This Is The Very Best Week Of The Year To Buy A House Douglas A. McIntyre Thu, September 17, 2026 at 9:26 AM PDT 3 min read Quick Read The week spanning September 27 through October 3 is historically the best time to buy a home, with inventory up 32% and 5.7% of listings seeing price reductions. High mortgage rates around 6.7% have thinned buyer competition, giving remaining buyers more negotiating power against motivated sellers. A K-shaped housing market is emerging: sub-$300K home sales fell 10% this year while million-dollar listings held steady. Read More: Learn 7 secret wealth tips high net worth investors use that most investors miss (sponsor) If you can afford it, the best week of the year to buy a house is from September 27 to October 3. This, of course, depends on whether you can pay cash or take on a 6.7% fixed-rate, 30-year mortgage. Many people can't, which has triggered a major slowdown in housing sales. "Historically, this week offers the most favorable balance...

Image source, Getty Images By Michael Race Business reporter , Reporting from New York Published 4 hours ago Investment banking giant JP Morgan has said it is struggling to predict how oil prices will be impacted by the US-Iran war, telling investors in a rare note that "we simply don't know how to model the endgame". The bank said it assumed at the start of the conflict that there would be "economic red lines" that the Trump administration would be unwilling to cross, and therefore it believed a deal would have been struck to open up the Strait of Hormuz shipping lane back in June. It said such red lines included oil prices rising above $100 a barrel, inflation reaching 4%, gasoline topping $5 a gallon and rates on 10-year government borrowing hitting 5%. "The market is on edge," analysts said. JP Morgan is a huge name in the financial world, so for the investment bank to admit its experts are grappling with working out the economic impact of the US-...

Energy markets grapple with Iran war uncertainty: 'We simply don't know how to model the endgame' Jake Conley Breaking Business News Reporter Thu, September 17, 2026 at 7:07 AM PDT 4 min read Six months into a conflict that has proven complex, costly, and highly unpopular, there remains no end in sight to the war in Iran. That's left the energy market and the analysts and strategists who study it with a deep lack of clarity. "For the first time since the start of the Iran conflict, we don't have a baseline view," commodities strategists at JPMorgan, led by Natasha Kaneva, wrote to clients on Thursday. "We simply don't know how to model the endgame." As the war enters its seventh month, the conflict has broadened to multiple fronts . In the mouth of the Persian Gulf, the Strait of Hormuz the world's most critical chokepoint for global energy flows remains essentially closed to through traffic as Tehran's Revolutionary Guard Corps cont...

With a few carefully chosen words, Federal Reserve Chairman Kevin Warsh both explained this week's decision to hike interest rates and raised vexing questions about what comes next. Warsh described Wednesday's decision to lift the central bank's benchmark rate by a quarter percentage point not specifically as a tightening of policy but rather as removing "a dose of accommodation." Further, he said the move was possible because of a U.S. economy that appears to have "strengthened" and financial conditions that have become less restrictive. While the language may sound like central bank semantics, it gets to the heart of what markets are debating now: How far will the Warsh Fed go if it has only removed a "dose" of help, and what are the guidelines it will be using to formulate policy? The phrase was "the one stand-out hawkish element" of Warsh's post-meeting commentary to the press, Krishna Guha, head of economics and central bank...

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I'm 65 and a High Earner. Is Using My Roth IRA for Home Renovations a Mistake? Eric Reed Thu, September 17, 2026 at 2:00 AM PDT 5 min read SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Should you cash out your retirement fund to upgrade your house? While there are some people for whom this will be a good idea, other households will be better off if they let their retirement fund keep growing. Ultimately, the decision will depend on your net worth, expected retirement expenses and tax strategy. Using Roth IRA withdrawals can be a good way to effectively fund tax-free renovations, but it can cost you a lot in the long run if you're not otherwise prepared for your retirement. Speak with a financial advisor about a thorough plan for your goals. Examine Your Household Income, Assets and Finances The answer to this question depends on your household finances, so look at your personal situation. Start with your household's inc...

Is This Biotech Stock Too Cheap to Ignore After Its Latest Pullback? Prosper Junior Bakiny, The Motley Fool Fri, September 18, 2026 at 10:20 AM PDT 4 min read VRTX ^GSPC Vertex Pharmaceuticals (NASDAQ: VRTX) has performed well in 2026. Its shares are up 13% year-to-date, while the S&P 500 is up 10%. However, after reaching $560.25 per share earlier this year, the company has dropped 8% from that 52-week high. Should investors take advantage of this opportunity to buy the stock on the dip? Multiple catalysts on the horizon Vertex Pharmaceuticals' second-quarter results were strong. The company's revenue increased by 12% year over year to $3.33 billion, while its earnings per share climbed 8% year over year to $4.31. Vertex increased its full-year revenue guidance to $13.1 billion to $13.2 billion, up from its previous range of $12.95 billion to $13.1 billion. There are several things investors should pay attention to over the next year. Here are three of them. Missed AI...

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Swiss food giant Nestle said Friday it's weighing its options after the Kremlin moved to place the Russian assets of its business under temporary external administration. The maker of Nescafé coffee and KitKat chocolate bars said that it took note of the Russian presidential decree, which was published on the country's official legal portal on Thursday, and is "assessing the situation." Russian President Vladimir Putin 's surprise move is widely regarded as the first step toward passing the assets into the hands of Kremlin-friendly investors and comes as part of a renewed push against Western businesses still operating in the country amid the Ukraine war . "Nestlé is committed to taking all necessary steps to protect its rights and ensure continuity of business operations in the interests of all stakeholders, particularly its employees," the company said in a statement. Shares of Nestle traded 2.2% lower on Friday. French retailer Auchan and Lemana Pro,...