Financial Times reported large tech firms booked more than $160 billion of unexpected valuation gains last quarter from equity investments in other AI companies, lifting pre-tax profits. Alphabet, Amazon, NVIDIA and Microsoft said the accounting line "other income" was materially boosted by these one-off valuation gains. The gains largely reflect market enthusiasm for AI and could distort assessments of the AI ecosystem’s strength and cyclicality. Goldman Sachs' chief US equity strategist said i

Multiple senior aides have resigned from President Trump’s team over the past month, forcing greater reliance on a smaller inner circle. Departures include the chief spokesperson, the top legal counsel, a key national security adviser and the senior official for congressional liaison; White House press secretary Leavitt left this month. Additional senior officials are reportedly considering departures in coming months. The resignations come as Republicans face the risk of losing their congressional majority in November’s midterms; if Democrats win control of Congress, the administration could face subpoenas and investigations. Finding replacements is said to be difficult.

On Aug. 30 the China coast guard conducted law-enforcement patrols in the territorial sea and adjacent waters of Huangyan Island (Scarborough Shoal). Since early August the coast guard has stepped up patrols in the area, lawfully handling vessels it identified as illegal intruders and tightening control of the waters to firmly safeguard China’s territorial sovereignty and maritime rights.