GOOGLE CO-FOUNDER SERGEY BRIN URGED STAFF IN RECENT MONTHS TO FOCUS ON BRINGING THE GEMINI MODEL BACK TO THE FRONTIER OF AI, ACCORDING TO SOURCES, WHILE GOOGLE EXECS CONVENED AN 'ALL-HANDS' MEETING LAST WEEK TO ADDRESS AI UNIT REORGANIZATIONS AMID STAFF CONCERNS

Stocks and Bonds Rise After Tame US CPI US stocks and bonds gained after July inflation data came in line with expectations, reducing fears of an imminent Federal Reserve rate hike. Core CPI rose 0.2% month-over-month and 2.5% annually, while markets now price less than a 50% chance of a September rate increase. The S&P 500 rose 0.2%, while the Nasdaq 100 gained 0.7%, helped by strong AI-related companies. Treasury yields fell, with the 10-year yield down to 4.67%. Oil remained around $83 a barrel, keeping inflation risks elevated.

Saudi Oil Exports Show Signs of Recovery A supertanker has been seen loading at Saudi Arabia’s Ju’aymah terminal for the first time in nearly a month, suggesting the kingdom may be resuming more crude exports through its Persian Gulf facilities. The VLCC can carry roughly 2 million barrels of oil. Saudi Arabia had shifted millions of barrels of exports to its Red Sea port of Yanbu after disruptions around the Strait of Hormuz. However, Houthi threats against Saudi-linked ships have complicated those routes, while satellite images show reduced activity at Yanbu.

Apple Names New Government Affairs Chief Apple has hired Nate Gatten, a longtime American Airlines government affairs executive, as its new vice president of government affairs. He will join on August 31 and oversee Apple’s global government-relations operations, while former legal chief Kate Adams remains as an adviser until October 1. Gatten’s appointment comes as Apple faces complex policy issues, including tariffs and relations with the Trump administration. A Republican with previous government-relations experience at JPMorgan and Fannie Mae, Gatten is expected to work closely with CEO Tim Cook. Apple is also undergoing a broader leadership transition, with Cook scheduled to become executive chairman as John Ternus takes over as CEO on September 1.