'End of an era' for ice cream shop open 106 years
The Tarr family say they are "devastated" to announce they will have to close due to rising costs.
Nvidia has agreed to acquire Hugging Face, the open-source AI model hub, for $12.9 billion. The deal arrives as Nvidia reported a $96 billion revenue quarter, doubling year-over-year, with AI hardware demand accelerating across enterprise and cloud deployments.
Nvidia shares jumped 7% on earnings, extending a rally that reflects sustained investor confidence in AI infrastructure spending. The Hugging Face acquisition consolidates Nvidia's grip on the full AI stack—from chips to model development platforms—potentially raising barriers for competitors and tightening Nvidia's control over developer ecosystems.
This move signals Nvidia's shift from pure hardware vendor to end-to-end AI platform provider, mirroring Microsoft's strategy with OpenAI. It also raises antitrust scrutiny as Nvidia consolidates influence over both the infrastructure and software layers of generative AI.
Salesforce beat second-quarter expectations and announced expanded collaboration with AI lab Anthropic, embedding Claude capabilities into its CRM platform. The move positions Salesforce as a primary distribution channel for enterprise AI applications.
Salesforce stock surged in after-hours trading, reflecting investor appetite for software vendors that credibly monetize AI. The Anthropic partnership signals that enterprise software licensing—not just infrastructure—will drive AI revenue growth in 2024-2025.
Salesforce's move underscores a bifurcation in AI value capture: Nvidia dominates hardware, but software vendors control customer relationships and can embed AI at higher margins. This validates the "picks and shovels" thesis but suggests software picks may yield better returns.
CrowdStrike reported record second-quarter results, with shares jumping 11% as the cybersecurity firm capitalizes on enterprise demand for AI-powered threat detection. The company framed frontier AI as a new attack vector driving customer spending.
CrowdStrike shares have surged 61% year-to-date, signaling that cybersecurity vendors are successfully translating AI risk narratives into contract expansion and upsells. This validates a secular shift in enterprise IT budgets toward AI-native security infrastructure.
As enterprises deploy more AI, security spending accelerates—creating a virtuous cycle for vendors like CrowdStrike. This suggests cybersecurity will remain a high-growth sector regardless of broader tech spending cycles.
Hundreds of people, including Americans, remain missing after devastating flash floods struck Nepal along the China border. Search and rescue operations are ramping up as death tolls mount and weather conditions complicate recovery efforts.
Immediate impact on tourism and regional infrastructure. Nepal's tourism sector, a critical foreign exchange earner, faces disruption. Reinsurance markets may price in elevated catastrophe risk for South Asian monsoon seasons.
Climate-driven extreme weather in the Himalayas signals accelerating glacial melt and monsoon volatility, with spillover effects on regional stability and cross-border humanitarian coordination between Nepal and China.
Canada is aggressively expanding defense industry capacity and military spending amid deteriorating US trade relations. Canadian contractors are pivoting to domestic defense work as retaliatory tariffs target 27 US states' top export customers.
Canadian defense contractors face near-term tailwinds from government spending, while US exporters face demand destruction in a critical market. Agricultural and industrial goods exporters in US border states face acute pressure as Canada redirects procurement.
The US-Canada trade war is forcing supply chain fragmentation and regional self-sufficiency in defense—a structural shift that mirrors broader deglobalization trends. This accelerates NATO burden-sharing but at the cost of economic efficiency.
Wall Street analysts have downgraded Novo Nordisk to sell after the Ozempic maker's stock plummeted 70% from its 2023 peak. Despite the collapse, analyst consensus had lagged the market's repricing of the company's growth trajectory.
The downgrade signals further downside risk as consensus catches down to price. GLP-1 agonist competition, pricing pressure from payers, and manufacturing constraints have eroded Novo's moat faster than equity analysts anticipated.
The Novo collapse exemplifies how blockbuster drug franchises face rapid commoditization in the face of competition and payer pushback. This validates concerns about the sustainability of obesity drug premiums and signals a shift toward multi-agent combination therapies.
Z.ai released a new AI model optimized for Chinese chips and has already deployed it globally in stealth mode for a week. The move signals China's push toward AI infrastructure independence amid US export controls on advanced semiconductors.
Z.ai shares surged 8% on the announcement. The development threatens Nvidia's dominance in China and validates Chinese chipmakers' ability to support competitive AI workloads, potentially accelerating substitution away from US chips in Asia.
China's AI-on-domestic-chips strategy is maturing faster than Western observers anticipated, reducing the effectiveness of US semiconductor export controls. This accelerates bifurcation of the global AI market into US-aligned and China-aligned ecosystems.
Bank lending to eurozone businesses fell again in July as rising borrowing costs dampen credit demand. The contraction suggests the ECB's rate hiking cycle is beginning to crimp economic activity ahead of another expected rate increase.
Weak lending data pressures the euro and raises recession risk premia for eurozone equities. This could force the ECB to pause or reverse rate hikes sooner than expected, supporting long-duration bonds and defensive sectors.
The eurozone faces a policy trilemma: fight inflation, support growth, or stabilize financial conditions. Contracting credit suggests the ECB's tightening is already constraining the real economy, raising odds of a hard landing.
US health officials approved a groundbreaking pancreatic cancer drug that offers a new therapeutic approach and demonstrated improved survival outcomes. The approval represents a rare advance in one of oncology's most intractable indications.
The approving sponsor gains exclusive market access to a high-unmet-need indication with limited competition. Pancreatic cancer's poor prognosis and small patient population suggest premium pricing power and strong margins despite niche market size.
This validates the biotech thesis that precision oncology and novel mechanisms can unlock value in previously intractable cancers. It also signals FDA's continued willingness to accelerate approvals for breakthrough therapies in high-mortality indications.
Japan's financial regulator approved a new trading platform for unlisted company shares, creating a secondary market for pre-IPO equity. The move aims to accelerate capital formation for Japanese startups and reduce reliance on foreign venture capital.
Japanese startups gain improved liquidity pathways and reduced pressure to list prematurely or accept foreign dilution. This could redirect capital flows toward domestic tech ventures and reduce brain drain to Silicon Valley.
Japan is attempting to build a venture ecosystem competitive with the US and
The Tarr family say they are "devastated" to announce they will have to close due to rising costs.
BMW Neue Klasse models help BMW iX3 and i5 drive a 28% European BEV share, even as China and US demand diverge sharply.
The 2.0-liter engine was discontinued in the EU in 2024, and it has now been dropped in the UK as well.
Rising borrowing costs might be weakening the bloc’s economy ahead of another expected rate rise.
Nvidia shares rose on Thursday after the chip giant's revenue guidance reassured investors that AI demand will remain strong.
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Tennis star Taylor Fritz says playing video games helps keep his brain 'working well' on the court
Bangko Sentral ng Pilipinas raised its benchmark overnight reverse repurchase rate to 5.00% from 4.75%.
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Dallas Fed economists said faster, programmable deposits could make bank funding less stable, potentially pushing lenders toward more expen…
While consumer confidence remained below prewar levels, consumer economic expectations picked up for the fourth month in a row.
Nissan Fairlady Z Nismo finally pairs its twin-turbo V6 with a six-speed manual, launching in Japan with chassis tweaks and new tech.
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The electrified compact crossover's next generation brings a bit more horsepower and torque.
Former Malaysian Prime Minister Ismail Sabri Yaakob has been charged with failing to declare his assets
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Joey and Jesse Buss are part of the San Diego Padres’ new ownership group led by José E
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New reports outline deal talks between the two companies as open-source AI technology comes more into focus.
His plea deal to avoid a death-penalty trial was rejected by a federal appeals court last summer.
The overnight index swaps market is pricing in nearly a 90% chance of a rate increase at the upcoming Bank of Japan meeting.
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South Korea’s central bank also projected stronger growth this year.
CBS News reporter Riley Callanan traveled to New Mexico to see Project Jupiter, one of the country's biggest hyper-scale data centers, for …
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Nvidia has been in talks to acquire Hugging Face for more than $13 billion
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Cook’s lawyer says she made an inadvertent error listing her apartment in Atlanta as a primary residence
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Investors looked at the earnings report from Nvidia, which surpassed analyst forecasts.
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More than 60 million people are under heat alerts from the Gulf Coast to the Pacific. The dangerous heat is fueling a wave of more than 90 …
Lisa D. Cook hit back at President Trump’s allegations that she had committed mortgage fraud.
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We believe crypto is part of the future of financial services — global, instant, and always on.
Experts have identified six key skills that will count as much as qualifications in getting and keeping a job in the coming decade.
The UK government claimes panels could help homes "significantly cut" energy bills.
While country music and films brought her fame, her entrepreneurial zeal brought her fortune.
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Jensen Huang predicts companies will have millions of AI agents in the future. 🤖
Tempe turns off its Flock license plate reader system, citing privacy concerns and risk for 'misuse'
Nvidia beat on every line. Its only bear says that's the problem.
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Yahoo Finance Live: Daily Market Coverage - August 26, 2026 3PM - 5PM (ET)
CEO Jensen Huang went on an AI deal spree in August. Nvidia plans to invest $18 billion more this fiscal year.
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