
Escalation of conflict drives up benchmark crude prices and gas costs ahead of a key inflation report.
Fighting near the Strait of Hormuz has pushed benchmark crude oil prices above $100 per barrel, leading to increased gas pump prices just ahead of an upcoming inflation report.
AI-generated summary
Fighting around the Strait of Hormuz impacts global crude oil benchmarks.
An escalation of fighting around the Strait of Hormuz pushes the benchmark price of crude oil back above $100 per barrel. That's leading to higher prices at the gas pump, just ahead of a high-profile inflation report.

Listen Labs, a voice AI market research startup, signed a $125 million Series C term sheet at a $1.5 billion valuation led by Menlo Ventures but walked away from the deal amid acquisition talks with Salesforce, which is reportedly considering a $2 billion offer; the three-year-old company has $30 million in annualized revenue and competes with firms like Simile in automating customer research.

Automattic's board placed founder and CEO Matt Mullenweg on a paid leave of absence against his will, with CFO Mark Davies appointed interim CEO. Mullenweg alleged Davies conspired with board members Ann Dunwoody, Toni Schneider, and Sue Decker to vote for the action, which he learned about 50 minutes before a meeting and requested time to review with legal counsel, which was denied. The move comes amid ongoing controversies including lawsuits with WP Engine, staff layoffs, and internal tensions over Mullenweg's leadership.

Apple unveiled the iPhone 18 and its first foldable iPhone, the iPhone Duo, while raising prices on existing iPhone models by $100. The price increase applies to iPhone 16, 17e, 17, and Air models, with steeper hikes in some international markets like India. The company also discontinued the iPhone 17 Pro and Pro Max. Apple cited rising memory and storage chip costs due to AI-driven demand as a key factor, a concern previously acknowledged by former CEO Tim Cook.

The domestic box office reached $4.76 billion between May 1 and Sept. 7, 2026, the highest summer haul in history, driven by Sony's 'Spider-Man: Brand New Day' and Universal's 'The Odyssey' contributing over $1.5 billion, with higher ticket prices and premium large format screenings offsetting fewer films and admissions compared to pre-pandemic levels.

Legal AI startup Harvey has raised $550 million in funding at a $15.5 billion valuation, bringing total funding to over $1.55 billion and nearly doubling its valuation in nine months. The round was co-led by Diffusion and Lightspeed Venture Partners.

The Justice Department sent a second request for documents regarding Fox's $22 billion acquisition of Roku, signaling closer antitrust scrutiny.