Sean's Daily Digest

Europe objects as US seats Russia's finance minister at G20 in Asheville

Ongoing · day 2

The United States invited Russian Finance Minister Anton Siluanov to the G20 finance ministers meeting in Asheville, North Carolina, drawing sharp objections from European counterparts who said there could be no return to normality with Russia while it continues to wage war on Ukraine. U.S. Treasury Secretary Scott Bessent met directly with Russian Finance Minister Siluanov at the Asheville summit and told him that U.S. sanctions on Russia will remain in place until the war in Ukraine ends, according to a source. Russia launched a drone and ballistic missile attack on Kyiv and the surrounding region overnight, killing at least 12 people, even as its finance minister attended the G20 gathering in North Carolina.

Xi tells SCO summit China-Russia ties will be stronger; Modi urges end to Ukraine war

Ongoing · day 3

Xi Jinping told Putin at their SCO sideline meeting that the 'foundations of bilateral ties will be stronger,' with both leaders vowing to deepen strategic ties and strengthen the SCO's global role. Xi proposed making the SCO an AI hub and called on members to take on a bigger global role in technology and security, describing the bloc as having 'vast potential.' A Trump-Xi White House summit has been announced for September 24, with prediction markets already pricing the outcome and U.S.-China officials debating 'nonsensitive' tariff cuts ahead of the meeting.

Shein lists in Hong Kong at $26bn as France begins imposing fast-fashion fines

Fast-fashion giant Shein completed its long-delayed IPO on the Hong Kong Stock Exchange on Tuesday, raising HK$13.6 billion ($1.7 billion) and closing valued at roughly $26 billion — far below the nearly $100 billion valuation it once commanded — after shares fell as much as 10 percent in early trading before partially recovering. France began imposing financial penalties on ultra-fast-fashion items the same day, ranging from €0.25 for socks to €12 for a coat, capped at 50 percent of the pre-tax sales price; European retailers such as Zara and H&M are not expected to be affected.

Japan's 10-year bond yield hits 3% for first time in 30 years as eurozone inflation rises to 3.3%

Japan's benchmark 10-year bond yield reached 3 percent on Tuesday, a 30-year high, as a global bond rout deepened on rising inflation fears tied to higher energy prices from the Iran war. Eurozone inflation rose to 3.3 percent in August; the ECB is expected to raise interest rates next week. UK borrowing costs rose to their highest since 2008.

John Ternus takes over as Apple CEO; Tim Cook becomes executive chairman

John Ternus became Apple's chief executive on Tuesday, replacing Tim Cook, who led the company since 2011 and remains as executive chairman. Ternus, who joined Apple in 2001 and led hardware engineering, inherits a company valued above $4.5 trillion but facing supply-chain shortages tied to AI chip demand, competitive pressure in artificial intelligence, and a politically complicated environment. Apple's first hardware event under Ternus is scheduled for September 9, where a foldable iPhone is expected.

Sony and Warner Music sue Anthropic over songs used in AI training

Sony Music and Warner Music have sued Anthropic, alleging the AI company used copyrighted songs without permission to train its models. Court filings in a related case cited internal Anthropic staff messages praising the use of piracy sites, and Anthropic has argued that lawyers are recycling allegations already before other courts.

EU weighs military mission to replace UNIFIL in south Lebanon as mandate expires December 31

The EU's diplomatic service has circulated a proposal for a three-year military and civilian mission to advise and train the Lebanese armed forces and police, as the nearly 50-year UN peacekeeping mandate in southern Lebanon — UNIFIL — is set to expire at the end of 2026. Lebanon remains under almost daily Israeli bombardment with a fifth of its territory occupied and roughly 335,000 people still displaced; the issue is on the agenda at an EU defence and foreign ministers meeting in Ireland this week.

China amends defence mobilisation law to cover AI, drones and cyber warfare for first time in 16 years

China's top legislature has passed the first amendment to its national defence mobilisation law in 16 years, adding explicit language covering AI, unmanned systems, cyberspace, biotechnology and quantum technology, according to state media. The amendment takes effect October 1; analysts say it draws lessons from the Russia-Ukraine conflict on the role of unmanned and cyber capabilities in modern warfare.

Former French prime minister Édouard Balladur dies at 97

Édouard Balladur, who served as France's prime minister from 1993 to 1995 under Socialist President François Mitterrand, died on Monday at the age of 97. A conservative associated with five decades of Fifth Republic history, he is remembered for his failed presidential bid against Jacques Chirac and later became entangled in the Karachi corruption affair.

Carney's Liberals sweep three Canadian special elections, boosting his majority amid US trade war

Canadian Prime Minister Mark Carney's Liberal Party won all three federal special elections held Monday, strengthening his parliamentary majority during an acute trade dispute with the United States. Ottawa's dollar-for-dollar retaliatory tariffs on about $28 billion of US goods are scheduled to take effect September 8, and Carney plans to address the European Parliament in mid-September to pursue deeper Canada-EU economic and security ties.

US Army Secretary Dan Driscoll resigns after reported clashes with Hegseth

Dan Driscoll, described as the youngest-ever US Army Secretary, resigned after roughly 18 months in post, the White House confirmed Monday, citing no official reason. Reports attributed the departure to sustained friction with Defence Secretary Pete Hegseth over personnel and leadership decisions.