Trump Declares Iran Nuclear Deal 'Imminent' as U.S. Strikes Continue, Oil Tops $100 and Military Warns of Overextension
President Trump announced Sunday that a nuclear and Hormuz Strait deal with Iran is 'imminent' as new negotiations resumed Monday, even as he stated the U.S. was not stopping military strikes. Oil prices surged past $100 per barrel for the first time in nearly two months amid fears of disruption to both Red Sea and Strait of Hormuz shipping, while a classified Pentagon assessment warned that prolonged Iran operations are degrading U.S. military readiness in Europe and the Indo-Pacific. Iran disputed Trump's 'imminent deal' framing, and analysts see little sign the cycle of threats and partial de-escalation is breaking.
House Returns from Recess to Vote on Stopgap Spending Bill to Avoid Government Shutdown Before Midterms
The House returned from its August recess with passing a short-term continuing resolution as its top priority, aiming to extend government funding through December 11 and avoid a shutdown at the September 30 deadline. The Senate has already passed the CR, and Speaker Mike Johnson is working to secure House approval within the single week lawmakers have in Washington before returning to campaign. Passing the bill would push any potential shutdown threat well past the November midterm elections.
Fed Chair Warsh signals September rate hike likely at Jackson Hole, citing insufficient inflation progress
Federal Reserve Chairman Kevin Warsh used his Jackson Hole speech on August 28 to strongly hint at a September interest rate increase, warning that inflation progress has been 'insufficient' and the Fed has 'work to do.' Markets now price a 57.4 percent probability of a 25 basis point hike at the September FOMC meeting, with August jobs and CPI data serving as the decisive factors before any final decision.
Global bond selloff intensifies as Japan's 2-year yield hits 31-year high and 10-year approaches 3%
A synchronized global bond market selloff is deepening, with Japan's central bank raising its benchmark rate to 1.0% — a 31-year high — driving yields to multi-decade levels across major economies. German bund yields have hit their highest since 2011, France's 30-year yield has risen nearly 50 basis points since late June, and the US 10-year Treasury yield has climbed above 4.7%. The selloff is being fueled by persistent inflation, rising government deficits, and fiscal uncertainty, with Japan's role as the world's largest creditor nation raising concerns that rising domestic yields could trigger capital repatriation that amplifies borrowing costs globally.
Ferry Capsizes Off Northern Cyprus Killing At Least 8, With 18 Missing and Captain Among Eight Crew Arrested
A passenger ferry carrying approximately 267 to 270 people capsized and sank off the coast of Northern Cyprus on Sunday, killing at least eight people and leaving 18 others missing. The captain and seven crew members were taken into custody as authorities launched an investigation. Dramatic images showed survivors clinging to the overturned hull as search and rescue operations continued.
DeepSeek Nears Completion of $7.4B Pre-IPO Round at $74B Valuation, Plans 2027 Shanghai STAR Market Listing
Chinese AI startup DeepSeek is finalizing a pre-IPO funding round worth approximately $7.4 billion at a $74 billion pre-money valuation, expected to close by end of August. The company has hired investment banks to prepare for a 2027 IPO on Shanghai's STAR Market, as it reports $500 million in annualized recurring revenue and 82.9% API gross margins despite ongoing cash burn.
OpenAI launches GPT-Live voice models globally, replacing multi-step pipeline with native audio processing
OpenAI has rolled out GPT-Live, a new generation of voice models for ChatGPT on iOS, Android, and web that processes audio natively end-to-end rather than routing through separate speech-to-text, language model, and text-to-speech components. The system targets sub-300ms response latency and supports full-duplex operation, allowing it to handle interruptions and overlapping speech more naturally. Paid users get GPT-Live-1 as default while free-tier users receive GPT-Live mini, though API access for developers is not yet available.
Lionel Messi Scores Four Goals as Inter Miami Demolishes CF Montréal 7-1 in Record Win
Lionel Messi recorded his first four-goal MLS performance Saturday, powering Inter Miami to a 7-1 victory over CF Montréal — the largest winning margin and most goals scored in the club's history. Messi finished with four goals and one assist, with three goals coming in the second half after Inter Miami conceded early. The result moved Messi to 17 goals on the season, placing him first in the MLS Golden Boot race.