U.S. Vice President Vance said the administration believes the Federal Reserve should lower interest rates.

South Korea announced on Thursday a major restructuring of state-owned energy and transport firms as part of broader public institution reforms aimed at cutting costs and boosting competitiveness. The government said the state oil company will merge with the state gas company; five subsidiaries of the state power utility will be consolidated; Korea Coal Company will be liquidated; and four regional port authorities will be merged. The government said the measures will remove overlapping functions, consolidate subsidiaries and smaller public bodies, and reallocate technology and personnel to improve infrastructure management.

Sept 2, 2026 — Yushu Technology’s wholly owned unit, Chengdu Yuchen Technology Co., Ltd., completed business registration and established in Chengdu. Yushu and Chengdu city authorities will collaborate on R&D, pilot-production bases, scenario innovation, data services and industry‑education integration, co‑building with local firms to accelerate development of Chengdu’s embodied intelligence industry.