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The Federal Reserve kept its benchmark interest rate unchanged at 3.5%–3.75%, but an unusually divided 9–3 vote highlighted growing pressure within the central bank to tighten monetary policy as inflation remains above its 2% target for a fifth consecutive year. Three Federal Reserve Bank presidents - Beth Hammack (Cleveland), Neel Kashkari (Minneapolis), and Lorie Logan (Dallas) - voted in favor of a quarter-point rate increase, marking the first time since 2016 that three policymakers have dissented in the same direction on a rate decision. While recent inflation data had eased immediate pressure to raise rates, higher energy prices linked to renewed U.S.-Iran conflict and sustained demand from AI-related investment have reinforced concerns that inflation could remain persistent. Chair Kevin Warsh maintained the Fed’s existing policy stance for a second straight meeting, despite signs that opinion within the committee is shifting. Officials advocating higher rates argue that strong economic activity, record equity markets, and robust corporate borrowing indicate the economy can withstand tighter policy, while AI-driven investment is creating demand that exceeds available supply.

 

AP News

The Hill

Reuters

Wall Street Journal

Strengthen Cyber Defences Against Emerging AI Threats

AI is reshaping the threat landscape, creating new risks that traditional detection models may struggle to identify.

This report from Lenovo explores the leading AI-driven threats facing IT and risk leaders, and outlines how organisations can strengthen their cybersecurity approach. Learn why existing defences must evolve, where vulnerabilities may emerge and how a more proactive strategy can help protect the modern workplace.

Designed for technology, cybersecurity and risk management professionals, the report provides practical insight into preparing for a rapidly changing security environment.

Download the report

 

A new Coface survey has found that 57% of U.S. finance and risk executives would rather reject a business opportunity than build the case for pursuing it, highlighting a culture of caution that the company says is limiting growth even as organizations invest heavily in artificial intelligence to improve decision-making. The 2026 Risk Survey: Risk Management from Risk Control to Growth Engine found that 80% of U.S. executives see AI-powered insights and early warning systems as a top priority for managing risk, with many hoping the technology will help them make faster, more confident decisions. However, the report found that inconsistent data quality, cited by 31% of respondents, remains a major obstacle, while 68% want predictive analytics embedded into everyday business workflows. Despite relatively mature governance structures, many organizations continue to treat risk management as a barrier rather than a driver of growth.

 

CPA Practice Advisor

Meta Platforms faces scrutiny for allowing thousands of ads promoting AI “nudify” apps, violating its own advertising policies. According to the nonprofit Tech Transparency Project, Beijing-based GatherOne has been responsible for around 7,600 ads for apps that create sexualized videos, including one linked to child pornography. Katie Paul, TTP's director, said: “Meta appears to be giving a free pass to one of its top Chinese advertising partners when it comes to nudify ads.” Despite Meta's claims of prohibiting such content, the findings suggest a prioritization of ad revenue over user safety. GatherOne has announced a suspension of new advertising accounts related to nudifying services and says it is enhancing compliance measures.

 

Bloomberg

Los Angeles Times

The Consumer Product Safety Commission (CPSC), the small federal agency that is responsible for protecting Americans from faulty household appliances, is demanding that hospitals turn over personally identifiable medical records. Earlier this year, the CPSC started pressuring hospital executives to share the data with private contractor Konza Health, ostensibly to overhaul its system for tracking consumer-product-related injuries at hospitals.  In emails to hospital executives, a CPSC official asked that the hospitals provide personally identifiable information from patients, including names, addresses, and diagnoses, to the contractor. “The whole thing is troubling,” said Sharona Hoffman, a professor of health law at Case Western Reserve University. “If this company really is collecting identifiable information, that is worrisome for patients.”

 

KFF Health News

CNN

Renault will face a criminal trial in France for aggravated fraud related to allegations that its diesel vehicles were equipped with devices designed to cheat emissions tests. Renault will be the second carmaker, following Volkswagen, to be prosecuted over the so-called dieselgate scandal that began in 2015. The trial is set for April 2027. "Renault Group will defend its innocence, as well as the professionalism and ethics of its 100,000 employees, before the criminal court," the company said in a statement. Renault pointed to a recent decision by London's High Court that largely exonerated it and four other carmakers from charges that the devices were designed to cheat clean air laws. "The operating limits of the emission control systems strictly reconcile emissions reduction with driver safety," the carmaker said. The French prosecutor's office claims Renault vehicles sold from 2009 to 2017 emitted more pollutants than allowed under normal driving conditions.

 

France 24

Chirayu Rana, the former JPMorgan Chase banker whose lurid ⁠sexual ⁠harassment lawsuit went viral, has added new claims and ⁠defendants. He says the bank's acceptance of racism and sexual coercion destroyed his ​career, alleging in his 82-page complaint that his South Asian heritage was mocked, and colleagues referred to him as a "monkey" and a "brown boy." Rana also accuses executive director Lorna Hajdini of coercing him into sexual acts, repeatedly saying she "owned" him. The lawsuit adds new defendants, including managing directors Brandon Graffeo and Jon Wolter, who are accused of damaging Rana's reputation in the industry. Rana has been "effectively blackballed," ​the complaint said. "His reputation has been destroyed, his professional relationships shattered, and the career he spent years building reduced to rubble. This ⁠was not ⁠an unintended consequence of defendants' misconduct. ⁠It was its intended result."

 

U.S. News

Fanatics has agreed to acquire a designated contract market and derivatives clearing organization from BGC Group to launch and expand its own prediction market exchange in the U.S. The deal includes Commodity Futures Trading Commission-registered Water Street Labs and CX Clearinghouse, although financial terms were not disclosed. The acquisition will strengthen Fanatics Markets, the group's prediction markets business launched in 2025, which allows users in 23 U.S. states to trade contracts linked to sports outcomes.

 

Bloomberg

Reuters

Nobuo Miwa, president of Tokyo-based information security service provider S&J, has highlighted the increasing sophistication of cyberattacks, particularly those driven by artificial intelligence, in a recent interview. Major Japanese companies, including Nichirei, Askul, and Asahi Group Holdings, have faced significant disruptions due to such attacks. “Attack programs can be created in the blink of an eye with AI,” Miwa said, noting that Japan's historical lack of cyberattacks has left many companies vulnerable, making them prime targets for cybercriminals. Miwa stressed the importance of identifying potential attack routes and implementing risk mitigation strategies, observing: “Countermeasures vary greatly depending on a company's size and system configuration.” He also mentioned that ransomware attacks often occur late Sunday night or early Monday morning.

 

The Japan Times Online

Samsung Electronics has forecast that the global memory chip shortage will continue through 2028 as demand from artificial intelligence (AI) customers outstrips supply, after reporting record quarterly profit driven by its semiconductor business. Second-quarter net profit surged nearly 1,300% year-on-year to a record ₩71.6tn ($49.6bn), while revenue more than doubled to a record ₩171.5tn and operating profit rose 19-fold to ₩89.5tn. The chip division generated record operating profit of ₩89.2tn, offsetting modest losses in the smartphone and home appliance businesses. The company said it expects to secure 60%-70% of its chip production capacity under long-term supply agreements and has already signed multiyear contracts with five major AI data center customers. Samsung also confirmed plans to begin construction of its second semiconductor fabrication plant in Taylor, Texas, by the end of 2026, targeting mass production in 2030.

 

Bloomberg

The Korea Times

Reuters

Wall Street Journal

The AI boom is blurring the economic signals central banks rely on to set monetary policy, raising the risk they will make damaging mistakes, Bank for International Settlements economists warn. 

 

Financial Times

President Donald Trump defended his tariff policies on Monday during a visit to General Motors' vehicle testing facility in Milford, Michigan, arguing that higher import duties have strengthened U.S. manufacturing and encouraged companies to expand domestic production, even as many Michigan businesses warn the tariffs are increasing costs and weighing on the state's economy. The trip came ahead of Michigan's August 4th primary, where Mr. Trump also campaigned for Republican candidates, including his endorsed gubernatorial candidate, John James. However, the visit highlighted growing economic tensions in a state heavily dependent on trade with Canada, which has been targeted with tariffs of up to 50% on a range of products, including automobiles. Business groups and political opponents argue the tariffs are raising costs for manufacturers, disrupting cross-border trade, and creating uncertainty for Michigan's auto industry. The tariffs have also strained U.S.-Canada relations, contributing to the cancellation of a planned joint celebration marking the opening of the Gordie Howe International Bridge linking Detroit and Windsor, Ontario.

 

BNN Bloomberg

The Center Square

Flight attendants at Calgary-based carrier WestJet Airlines have given a 72-hour notice of a strike if talks fail to produce ​an agreement in a dispute over unpaid work. Cabin crew at Canada's second-largest carrier could strike as early as August 2 at 12:01 a.m. Mountain Time (0601 GMT) if a last-minute deal is not reached, said the Canadian Union of Public Employees (CUPE), which wants cabin crew to be paid from the time ⁠they check in to when they clock out, which is not currently ​the case.

 

Reuters

UNAIDS has warned that global funding cuts, growing inequality and setbacks to human rights are threatening decades of progress in the fight against HIV/AIDS. “The ⁠international community has entered a period of profound political and financial upheaval that threatens decades ​of hard-won gains against HIV," the U.N. body fighting AIDS said in its 60-page report released at the start of ​an International AIDS conference in Brazil. "Without renewed commitment and action, the world risks a resurgence of the HIV epidemic."

 

africanews

Reuters