OpenAI is terminating its partnership with Cursor, the AI coding tool acquired by SpaceX, citing concerns about Elon Musk's companies violating contracts. The shutdown is set for November 12, 2026, affecting about 5% of Cursor's traffic. Developers can still use their own API keys.

Federal Reserve Chair Kevin Warsh, in his first major speech, said inflation remains too high and hinted at possible rate hikes. Markets now see a 57% chance of a hike in September, up from 35%.

Federal Reserve Chair Kevin Warsh said inflation remains too high and suggested the central bank may need to raise interest rates in the coming months, a clearer signal than before. He noted inflation is 3.7% over the past year, well above the 2% target.

Minnesota Attorney General Keith Ellison approved a 10-year oversight agreement for the Sanford Health and North Memorial Health merger, set to close Sept. 1. The deal includes $600 million for hospital upgrades, protects jobs and services, and creates the state's largest integrated urban-rural health system.

Federal Reserve Chair Kevin Warsh delivered his first major speech at Jackson Hole, warning that inflation remains too high and that the central bank may need to raise rates if progress stalls. He emphasized the 2% target and downplayed forward guidance, leaving markets to gauge the next move.

Federal Reserve Chair Kevin Warsh said Friday that inflation remains too high and hinted the central bank may need to raise interest rates soon. Stocks held steady, but bond yields rose as traders increased bets on a rate hike next month.

Federal Reserve Chair Kevin Warsh used his first Jackson Hole speech to stress that inflation remains too high and that the central bank's main focus should be on prices. He hinted at possible rate hikes, criticized forward guidance, and highlighted AI's potential to boost growth.

U.S. stock futures were mixed on Friday as investors awaited Federal Reserve Chair Kevin Warsh's keynote speech at the Jackson Hole symposium. Warsh has signaled he will offer limited policy guidance, focusing instead on broader topics. Treasury yields rose, and oil prices remained volatile amid uncertainty over the Strait of Hormuz.

The US-Canada trade war has escalated with President Trump imposing 50% tariffs on Canadian vehicles, steel, and other goods, prompting Canada to retaliate with its own tariffs on hundreds of American products. Experts warn of higher consumer prices, disrupted auto supply chains, and weakened North American competitiveness against China.

U.S. stocks drifted Wednesday after a report showed inflation slightly hotter than expected. The S&P 500 edged down 0.1%, while the Dow fell 100 points. Bond yields ticked higher, and oil prices dropped. Abercrombie & Fitch surged 40.4% on strong earnings, while Intuit fell 5% on a weak forecast.

Canada imposed retaliatory tariffs on about $20 billion worth of American products, including steel, dairy, appliances, and farm equipment, responding to new US tariffs. Analysts predict a compromise, while inflation remains elevated and the Kennedy Center faces a legal battle over Trump's name.