BEIJING IS TRYING TO BUILD A CHINESE RIVAL FOR INSURING WORLD SHIPPING, WITH CHINA IN TALKS FOR $15 BLN IN FUNDS FOR AN INSURANCE HUB - WSJ
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U.S. OFFICIAL SAYS CENTCOM HAS TOLD ISRAEL TO PREPARE FOR A POSSIBLE WAR RESUMPTION - KAN NEWS
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U.S. ALSO SENT SIMILAR MESSAGES TO GULF STATES, A SOURCE TELLS KAN NEWS
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AFGHAN AND RUSSIAN PRIVATE SECTORS HAVE SIGNED 15 ECONOMIC COOPERATION MOUS WORTH $103 MLN - AFGHAN GOVERNMENT
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USER REPORTS INDICATE MICROSOFT OUTLOOK IS DOWN FOR OVER 39,000 USERS IN THE U.S., WITH MICROSOFT 365, COPILOT AND THE MICROSOFT STORE ALSO DOWN FOR THOUSANDS OF USERS - DOWNDETECTOR
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WHITE HOUSE IS DISCUSSING HOWARD LUTNICK’S FUTURE AS COMMERCE SECRETARY - SOURCES CITING PEOPLE FAMILIAR
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U.S. OFFICIAL SAYS IRAN ADDED NEW DEMANDS AND “OVERREACHED” - I24
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UK IS ON THE CUSP OF A HISTORIC EU DEAL AS OPTIMISM GROWS - IPAPER
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FED’S DALY SAYS THE ECONOMY IS BEING DRIVEN BY A TECHNOLOGY BOOM AND THAT THERE IS NO DOUBT OF AI-FUELED PRICE PRESSURES, THOUGH AI IS CONTRIBUTING DIRECTLY ONLY A MODEST AMOUNT TO INFLATION
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FED'S DALY SAYS THERE IS AN INFLATION PROBLEM BUT AI IS NOT DOING MOST OF THE DRIVING, THAT THERE IS A RISK AI COULD CONTRIBUTE MORE TO INFLATION, AND THAT AI IS HAVING A LIMITED IMPACT ON THE LABOR MARKET, WITH A DEEP AI PIPELINE THAT CONTINUES EVEN IF IT SLOWS
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FED’S DALY SAYS THE U.S. HAS A STABLE LABOR MARKET, POSITIVE GROWTH, PRODUCTIVITY GROWTH AND HIGH INFLATION, AND THAT THE FED HAS TO FOCUS ON BRINGING INFLATION DOWN, WARNING THAT INFLATION IS BLEEDING INTO SERVICES AND THAT ONCE SERVICES INFLATION RISES IT IS STICKY
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FED’S DALY SAYS INFLATION PRESSURE IS UP, NOT DOWN, THAT SHE INCREASINGLY HEARS FIRMS SAY THEY WILL PASS ON HIGHER COSTS, AND THAT INFLATION SHOCKS CAN COMPOUND SO THE FED CANNOT BE COMPLACENT, ADDING SHE IS COMFORTABLE WITH THE SEPTEMBER HIKE AND THAT HER BIAS IS THAT FURTHER TIGHTENING WILL BE NEEDED
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FED’S DALY SAYS THE FED HAS MANY QUARTERS TO MAKE POLICY DECISIONS AND THAT EXACTLY HOW MUCH TIGHTENING AND WHEN IS A DECISION IT DOESN’T NEED TO MAKE NOW, WITH TIGHTER FINANCIAL CONDITIONS GIVING MORE TIME AND MARKETS IN ALIGNMENT WITH WHERE THE FED NEEDS TO BE, THOUGH MARKETS DON’T DO THE FED’S WORK AND KEEPING PRICES STABLE IS THE FED’S JOB
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FED’S DALY SAYS IT IS TOO EARLY TO SAY WHEN THE AI PRODUCTIVITY IMPACT WILL ARRIVE BUT THERE IS POSITIVE MOMENTUM FOR PRODUCTIVITY GROWTH, WITH A LOT OF WORK SUGGESTING MORE PRODUCTIVITY GROWTH IN THE NEXT 1-3 YEARS, AND THAT THE FIGHT AGAINST INFLATION SHOULD NOT MEAN IGNORING THE POTENTIAL THAT PRODUCTIVITY GROWTH COULD BE DISINFLATIONARY
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FED’S SCHMID SAYS MATERIALS AND LABOR COSTS MAY WORSEN HOUSING AFFORDABILITY, AND DOES NOT COMMENT ON THE OUTLOOK OR MONETARY POLICY
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NASDAQ TRADING SERVICES IS INVESTIGATING ISSUES WITH ITS EMAIL SYSTEM
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MICROSOFT: BEGUN REDISTRIBUTING CONNECTION TRAFFIC ACROSS OUR BROADER WORLDWIDE INFRASTRUCTURE TO HELP BALANCE THE LOAD.
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