European Central Bank Chief Economist Philip Lane said consumer-price growth in 2026 will likely remain “significantly above” the 2% target because of the war in Iran, Bloomberg reported. Lane warned of further upward pressure on prices expected next summer due to weather phenomena, including El Niño, and noted that “food inflation will be one of the factors shaping inflation dynamics over the next year.”
Court hearings will begin today on allegations that Meta Platform intentionally set things up to encourage compulsive use of Facebook and Instagram among young users, Bloomberg reported. Twenty-nine states are seeking financial penalties and court orders that could force Meta to change how its platforms operate, citing violations of consumer-protection laws and federal privacy laws. The lawsuit poses enormous risk for Meta and could materially affect the company’s business and how its platforms function overall.
Google told suppliers it plans to manufacture all of its Pixel smartphones, smartwatches, and wireless earbuds outside China starting in 2027, Nikkei Asia reported. This was aided by the successful development and production of Pixel smartphones in Vietnam this year, according to sources.
OpenAI introduced ChatGPT for Teens, with a launch set for August 18. This version is designed specifically for teenagers aged 13 to 17 and comes with enhanced safeguards, including limits on content related to topics such as suicide, self-harm, and romantic or sexual conversations. It also offers homework and study support intended to promote learning rather than simply providing ready-made answers and school essays.
Alibaba Group Holding Ltd.’s Alipay unit announced the launch of a new all-in-one business platform designed to use AI agents to automate everyday tasks and support the growth of agentic commerce.