- Search for New Fed Chair Starts After Labor Day: Potential candidate interviews for the post of the new Federal Reserve chairman will be happening soon, Treasury Secretary Scott Bessent said in an Aug. 19 interview with CNBC.
- Nebraska Announces Plans for ‘Cornhusker Clink’ Detention Center: Nebraska is partnering with the Trump administration to open “Cornhusker Clink,” a detention center to house illegal immigrants awaiting deportation or other proceedings, in a remote southwest corner.
- Western allies are continuing to work on a peaceful resolution to the conflict in Ukraine. Multiple meetings are being held in efforts to arrange a trilateral leaders summit.
- 140 Villagers Killed by M23 in DR Congo: Human Rights Watch: Rebels allegedly backed by Rwanda killed at least 140 people in eastern Congo (DRC) in July, nonprofit organization Human Rights Watch (HRW) stated in a report.
- Walmart Recalls Potentially Radioactive Shrimp
- Texas House Passes New Congressional Map Favoring Republicans
- FBI Warns of Russian Cyber Hackers Targeting Critical US Infrastructure
- Venezuela’s Maduro Mobilizes 4.5 Million Militia Members
- Target struggles with turnaround as Q2 sales drop: The retailer needs to move “much faster,” incoming CEO Michael Fiddelke said Wednesday. “I know we’re not realizing our full potential right now.”
- Claire’s strikes $140M private equity takeover deal, pauses store liquidations: The bankrupt tween accessories retailer had plans to shutter at least 700 stores — possibly twice that — and now most will remain open.
- Target CEO Brian Cornell to exit: The executive shaped the mass retailer’s reputation and performance for over a decade. He will be succeeded by COO Michael Fiddelke.
- Kohl’s adds CTO to its tech leadership lineup: The retailer brought in former Nike and J.Crew executive Steven Dee to lead all technology and information platforms.
- Levi’s brings on chief supply chain officer from Victoria’s Secret: Chris Callieri will start in September, reporting directly to CEO Michelle Gass.
- Home Depot sales up nearly 5% in Q2, reaffirms full-year outlook: The home improvement retailer notched a 1% comp sales gain, below analysts’ estimates, as consumers take on fewer large discretionary projects.
- Israel has announced it is expanding its military operations in Gaza City, as the UK foreign secretary, David Lammy, condemned its approval of a huge new illegal settlement in the West Bank as a “flagrant breach of international law.”
- Labour is preparing to kick off a new wave of public-private partnerships (PPPs) in England to build the neighbourhood health centres at the heart of its NHS 10-year plan.
- Moscow has said it must be part of any international talks on Ukraine’s security, as Russia continues to stall on Donald Trump’s push for a meeting between Vladimir Putin and Volodymyr Zelenskyy.
- Scotland Yard’s plan to widen the use of live facial recognition technology is unlawful because it is incompatible with European laws, the equalities regulator has claimed.
- England will sell off more than eight times as many council homes in 2025-26 as were constructed the previous year, research has found.
- Archaeologists are absolutely buzzing about Stonehenge as these huge stones have thrown up another mystery. This time they’ve discovered an ancient tooth at the site came from a cow that began its life in Wales.
- England have named a full-strength side to open their Rugby World Cup campaign against the USA on Friday, with Emily Scarratt in line to win her 119th cap off the bench and appear at her fifth World Cup.
- Arsenal are assessing a knee injury suffered by Kai Havertz and could attempt to bring in a replacement if the Germany forward faces a lengthy spell on the sidelines.
- Moses Itauma should continue to steadily build his journey through the heavyweight ranks rather than risk getting hurt by taking a showdown with Oleksandr Usyk “too early”, according to Amir Khan.
- Israel has taken the first steps of an operation to take over Gaza City, and called up tens of thousands of reservists on Wednesday, as the government considers a new ceasefire proposal.
- The Trump administration says it will assess visa applications to the US for “anti-Americanism” and hold findings against applicants, sparking concerns about the implications for freedom of speech.
- US Director of National Intelligence Tulsi Gabbard announced a restructuring of her office on Wednesday, saving more than $700-million per year by cutting intelligence staff by more than 40%. Some would argue that the US already saw a 40% drop in intelligence when Trump took office.
- A US judge has ordered Elon Musk to face a lawsuit by voters accusing him of tricking voters into signing a petition and sharing personal data through a giveaway of $1-million a day tied to his pro-Trump political action committee.
- The Springboks will start their November Tour with a historic Test against Japan at London’s iconic Wembley Stadium on Saturday, 1 November.
- Tiger Woods agreed to serve as chairman on the PGA Tour’s Future Competition Committee. The aim of the newly formed group is to define a competitive model for PGA Tour events.
- The Welsh Rugby Union has put forward a proposal, including cutting two of its four professional clubs as a “radical step” needed to save the game in Wales.
- Stadium to Host Stade Rochelais and DHL Stormers: The Mandela Bay Development Agency (MBDA) has once again delivered a major win for Nelson Mandela Bay by securing the return of top-tier international rugby to the city. On 13 December 2025, the DHL Stormers will face French side Stade Rochelais in a Round Two Investec Champions Cup fixture at the Nelson Mandela Bay Stadium.
- Asian markets wobbled in mixed trade as investors sat tight ahead of the Fed’s Jackson Hole gathering.
- The US dollar hovered below a one-week high.
- Bitcoin continued to claw its way back from Wednesday’s 2.5-week low.
- Oil ticked up after US crude and fuel stockpiles fell more than expected, boosting confidence that demand is holding firm despite broader economic jitters.
- China has hauled Canada before the WTO, challenging new tariffs and quotas slapped on Chinese steel and aluminium. Ottawa insists its 25% levy shields local mills; Beijing calls it protectionism in disguise.
- Britain’s inflation is heating up again, set to hit 4% next month — double the BoE’s target. With price growth proving sticky, rate cuts may slow, testing Labour’s economic reboot just as voters crave relief.
- Australia’s banking watchdog is on cyber high alert. Prudential regulator chair John Lonsdale warned rising geopolitical tensions mean hackers are circling banks.
- Interest rate cut on the cards for South Africa: Following anticipated interest rate cuts by the US Federal Reserve in response to slowing economic growth, Nedbank chief economist Nicky Weimar expects the South African Reserve Bank to mirror this action later in 2025.
- Indian car giant returns to South Africa: India’s Tata Motors returned to South Africa’s passenger vehicles market after a six-year absence, launching three ranges of SUVs and an entry-level compact hatchback to take on Chinese competitors.
- South Africans buying cars face a debt trap: Many South Africans are using balloon payments to afford cars, but without understanding the long-term risks, they risk falling into a costly debt trap.
- First-ever South African brand to make a deal with Shein: A local fashion brand has made history by becoming the first South African fashion brand to collaborate with global retail giant Shein.
- Prominent vehicle tracking company hacked in South Africa: A ransomware gang has claimed responsibility for an attack on Altron’s Netstar, posting hundreds of gigabytes of stolen data to their dark web leak site.
- Eskom still falling short: Despite significant improvements, Eskom’s 2025 performance remains below historical levels from 2019 and 2021, and the utility’s ability to avoid load-shedding relies on its expensive use of diesel-powered open-cycle gas turbines.
- South Africa has a Trump tariff lifeline: South Africa may avoid the worst effects of US tariffs thanks to a resilient Chinese economy, which could offset global trade headwinds and support local economic growth in the near term.
- New MG3 launched in South Africa: MG has officially launched a new hatchback in South Africa with a starting price under R300,000.
- Israel called up an additional 60,000 reservists yesterday after approving a military offensive to capture and occupy Gaza City, a Hamas stronghold where hundreds of thousands of people are sheltering. The operation could begin within days; army reservists were instructed to report to duty next month.
- Target’s CEO Switch: Target CEO Brian Cornell is stepping down in February after 11 years at the helm. The news came yesterday as the retailer reported falling or flat sales for the 11th consecutive quarter, with profits down 19% from a year ago.
- FTC Sues LA Fitness: The Federal Trade Commission yesterday sued the operators of LA Fitness, alleging they make canceling memberships excessively difficult for consumers, costing hundreds of millions of dollars in unwanted recurring fees.
- The 2025 PGA Tour Championship kicks off today for the FedEx Cup title and $10M top prize.
- ESPN’s new app, which will include livestreams of all 12 of the network’s channels, launches today at $29.99/month.
- Former boxing champ Julio César Chávez Jr. deported over alleged ties to Mexican drug cartels
- YouTuber-turned-boxer Jake Paul to face WBA world champ Gervonta Davis on Netflix 14 November.
- Google debuts line of Pixel smartphones that use Google’s artificial intelligence assistant, Gemini, to let users complete multiple tasks simultaneously.
- Study shows triple-negative breast cancer cells feed on nearby fat cells, prompting researchers to develop a treatment that blocks the aggressive cancer’s access to fat; the approach may also work against other cancers.
- Never-before-seen supernova—or exploding star—confirms massive stars have several onion-like layers and an innermost iron core.
- IBM and NASA release an advanced open-source AI model for predicting solar weather.
- US stock markets close mixed (S&P 500 -0.2%, Dow +0.0%, Nasdaq -0.7%) (More) | Federal Reserve meeting minutes from July show most officials agree it’s too early to lower interest rates (More) | President Donald Trump calls for resignation of Federal Reserve governor Lisa Cook amid accusations of mortgage fraud (More)
- Pop Mart shares close up 12% after the Labubu maker sees net profit rise nearly 400% in first six months of 2025, hints at mini-Labubu dolls.
- Sony to raise prices of PlayStation 5 game consoles in the US by $50 starting today, citing challenges of current economic environment.
- At least 600 Centers for Disease Control and Prevention staffers receive final termination notices.
- Office of the Director of National Intelligence to cut annual budget by over $700M, trimming workforce by up to 40%.
- Texas House passes GOP redistricting plan; Senate vote expected today.
- .Hurricane Erin is forecast to cause large swells, life-threatening rip currents, and damaging winds along the US East Coast into Friday; the storm has already spurred dozens of water rescues and beach closures.
- .Third federal judge denies Justice Department request to unseal grand jury transcripts from the investigation into Jeffrey Epstein’s sex-trafficking operation, citing contents of DOJ’s sealed files far exceed the transcripts in question.
- Study finds fewer Americans are reading for pleasure.
- Intellexa, a shadowy corporation notorious for selling smartphone spyware to repressive regimes, has defied international efforts to curb its activities, a group of cyber threat researchers has warned.
- A group of U.S. Senators hopes to stem dirty money flows through the art market with a new bill that would regulate art dealers and auction houses under the Bank Secrecy Act. Under the BSA, art brokers would be required to track expensive art transactions and report suspicious purchases or sales, aligning the U.S. with international standards.
- Portugal launches probe into construction giant’s dealings with Equatorial Guinea’s vice president.
- Parliamentary committee labels China ‘flagrant’ perpetrator of transnational repression on UK soil.
- Landmark cryptocurrency legislation passes US House, to be signed into law by President Trump.
- Former Real Madrid manager mentioned in Pandora Papers receives suspended jail term.
- U.S. and NATO officials weigh Ukraine security guarantees as WH plans Zelensky-Putin Summit.
- Israel set to call up tens of thousands of reservists amid new offensive in Gaza.
- WH launches review of Smithsonian exhibits amid concerns over ideological bias.
- Trump calls Netanyahu a ‘War Hero,’ labels himself one as well after U.S. Military actions led to obliteration of Tehran’s nuclear capabilities
- MSNBC rebrands and changes name to ‘MS NOW,’ prompting online mockery.
- Vice President JD Vance and Defense Secretary Pete Hegseth visited with National Guard troops in Washington, D.C., on Wednesday to show gratitude for their efforts in cracking down on violent crime in the nation’s capital.
- Kilmar Abrego Garcia lawyers accuse DOJ of taking part in ‘vindictive and selective prosecution,’ seeking to dismiss criminal charges.
- ‘THE SCAM OF THE CENTURY!’ : President Donald Trump intensified his criticism of windmills and wind turbines this week, denouncing them as inefficient and costly while blaming them for higher energy prices, power shortages and environmental harm.
- The Israeli military maintained its pressure on Gaza City with heavy bombardments overnight, residents said, ahead of a meeting between Prime Minister Benjamin Netanyahu and his ministers on plans to seize the enclave’s largest city.
- Netanyahu stepped up his personal attacks on Australian counterpart Anthony Albanese, calling him a “weak politician” over his government’s decision to recognise a Palestinian state. Listen to the Reuters World News podcast for the latest.
- A widely condemned Israeli settlement plan that would cut across land that the Palestinians seek for a state received final approval, according to a statement from Israeli Finance Minister Bezalel Smotrich.
- Allied talk of sending European peacekeeping forces to protect Ukraine as part of a possible peace deal with Russia has sparked a backlash in Germany, a country still scarred by its militaristic Nazi past, even if the prospect remains remote.
- Italian police have arrested a Ukrainian man suspected of coordinating the attacks on the Nord Stream pipelines, Germany’s prosecutor general said, adding that he would be brought before a German judge after being transferred.
- Most Americans believe that efforts to redraw U.S. House of Representatives districts to maximize partisan gains, like those under way in Texas and California, are bad for democracy.
- The US has stopped processing most visas in Zimbabwe until further notice, its embassy in the capital Harare said, citing unspecified concerns with the government.
- The British government policy of housing thousands of asylum seekers in hotels was facing severe pressure, as opponents leapt on a court ruling to call for protests and legal action to have them all evicted.
- The US Federal Reserve’s pivot toward the labor market in 2020 will get a reboot when Fed Chair Jerome Powell is expected to release a new framework for the central bank that accounts for a half-decade in which inflation surged, jobs were plentiful, and uncertainty became the watchword. Here’s how Powell has used Jackson Hole to signal what’s next.
- Fed Governor Lisa Cook said she won’t be bullied into stepping down, defying calls for her resignation by President Trump over allegations of mortgage fraud, and Meta is reportedly freezing hiring in its AI division. For more on the markets, watch our daily rundown.
- China is considering allowing the usage of yuan-backed stablecoins for the first time to boost wider adoption of its currency globally, sources familiar with the matter said, in a major reversal of its stance towards digital assets.
- Indian companies have seen the steepest earnings downgrades in Asia, with analysts slashing forecasts, as steep US tariffs heighten risks to growth even if proposed domestic tax cuts help cushion the impact.
- Shoppers at Checkers supermarkets in South Africa could soon be cruising the aisles with “smart” trolleys that let them know how much money they are spending and include in-built payment terminals.
- Shareholders of Italian merchant bank Mediobanca rejected the proposal of its chief executive Alberto Nagel to buy Banca Generali, a takeover that would have created Italy’s second-largest wealth manager.
- Taxi violence has left Maponya Mall dented but reopened. Two e-hailing drivers were shot at and another driver was killed last week.
- The EFF — remember them? — have come out in support of the Chief of the South African National Defence Force, General Rudzani Maphwanya’s disastrous visit and comments while in Iran. International relations may zig, but the EFF can certainly zag.
- Ukrainian man has been arrested on suspicion of coordinating the Nord Stream pipeline attacks.
- Today sees the California Senate attempt to redraw political maps of the state. The move by the democrats is a direct counter-punch to a similar tactic by Texas republicans. The latter has openly admitted to doing this purely to increase political leverage in the state.
- Target’s incoming CEO makes consistent experiences a top priority: The retailer plans to invest $4 billion this year to improve the shopping experience as Michael Fiddelke prepares to take the helm.
- Lowe’s credits associate-facing app for customer satisfaction boost: The Mylow Companion app is helping get new hires up to speed while enhancing the knowledge of experienced workers across departments, executives said.
- Chipotle targets Gen Z with college rewards program: The fast casual chain is offering free points, occasional prize drops and faster rewards accrual to loyalty members who validate their college enrollment.
- Amid DSCC Pressure, Democratic Populist J.D. Scholten Exits Iowa Senate Race: Scholten, who is among a small coterie of anti-establishment Democrats to outperform Kamala Harris in deep red states, will endorse Josh Turek.
- Price Tag for Trump’s D.C. Military Surge: At Least $1 Million a Day: An analysis conducted for The Intercept found that the militarization of D.C. could end up costing hundreds of millions.
- Teen Immigrant’s Release Propels Lawsuit to End ICE’s Courthouse Arrests: A new lawsuit seeks to end ICE’s tactic of setting up immigrants to be taken from immigration courts.
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A bitcoin whale, who’s been quiet for seven years, just cashed out about R3.6-billion in BTC to bet big on Ether, snapping up a R4.5-billion position. The massive trade, made on the Hyperliquid exchange, caused a brief 2% dip in Bitcoin’s price. It also put a spotlight on Hyperliquid itself, which is rocketing in popularity, handling R6-trillion in trades last month alone.
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Pump.fun, the Solana-based memecoin launchpad, just had its best week of the year, pulling in a massive R256-million in revenue and reclaiming its title as the top launchpad with nearly 74% of the market. But this is all happening while the platform faces a class-action lawsuit alleging it is an “unlicensed casino” responsible for more than R104-billion in investor losses.
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The UK has cracked down on several Kyrgyz banks and crypto exchanges, accusing them of helping Russia bypass sanctions. At the centre of the action is an alleged R176-billion ruble-backed stablecoin operation the UK says was designed specifically to undermine its financial restrictions.
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It seems the top US financial watchdog, the Securities and Exchange Commission (SEC), can’t quite agree with itself on how to regulate crypto. In a potentially significant move, SEC staff recently stated that transactions in meme coins and certain protocol staking activities generally don’t qualify as securities offerings. This signals a potentially lighter-touch approach from the regulator’s engine room, which would be welcome news for many in the crypto space.
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In a potential major policy shift, China is reportedly considering allowing yuan-backed stablecoins to promote the global use of its currency. This plan, which aims to counter US progress on stablecoins, is expected to be reviewed by China’s State Council next week.
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US and EU Unveil Trade Deal Details: The United States and European Union on Thursday issued a joint statement on Aug. 21 revealing details of a transatlantic trade agreement that sets a 15 percent ceiling on most.
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Israel Begins First Steps of Operation to Take Gaza City: The Israel Defense Forces (IDF) announced it had begun the first steps of an operation to take over Gaza City on Wednesday.
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Gabbard Announces Overhaul of ODNI, With Budget and Personnel Cuts: The Office of the Director of National Intelligence (ODNI) will undertake major personnel and budget cuts, with the organization on course to lose more than $700 million annually.
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70,000 Cambodian Buddhist Monks Back Trump Nomination: President Donald Trump has received the support of 70,000 Cambodian Buddhist monks for recognition by the Nobel Committee for his peacemaking efforts.
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The US Consumer Financial Protection Bureau relaunched its open banking rulemaking, seeking input on consumer data sharing between banks and fintechs. Required under Dodd-Frank, the rules face industry feuds and legal challenges after banks opposed the Biden administration’s earlier version.
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The EU and the US finalised a trade deal imposing a 15% US tariff on most EU imports, while the EU pledged to scrap tariffs on US industrial goods and expand access for American farm products. Car tariffs will gradually ease.
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Boeing may finally be back in China’s good books, with talks to sell up to 500 jets. The mega-order could anchor a US-China trade deal — and help Boeing catch Airbus, which has been eating its lunch in Beijing.
World News – 21 August 2025
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El Salvador: You have two cows. They are less likely to get cut open than you.
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Fun South African Fact: For nearly 50 years, there was a state of apartheid – white minority rule – in South Africa.