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Goldman Sachs Global Institute co-head: remaking our world for machine intelligence

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Goldman Sachs Global Institute co-head: remaking our world for machine intelligence

The emergence of new technology has long inspired humans to shape our environments.  The invention of steel permitted the rise of skyscrapers, the automobile inspired highway systems and the internet gave rise to a whole new set of digital spaces.

Now, a new force for change is upon us. The pace of improvement in AI models has led many observers to predict that human intelligence may soon be overtaken by the cognitive capacity of machines. Anthropic CEO Dario Amodei imagines a world with “a country of geniuses in a data center.” Elon Musk posited this summer that “AI may exceed the sum of human intelligence in around five years. There really won’t be anything that AI can’t do better than humans, apart from being human, perhaps.”

In such a world, it seems likely that the digital and physical affordances we have constructed for the benefit of humans will be superseded by or at least complemented by infrastructure that is specifically designed for ready and effective use by “bots,” both digital and physical.

Today, our world is designed for human cognition, cadence and trust. Now imagine a world built for machine intelligence, wire speeds and code-based contracts. Humans may no longer be the primary actors in this new theater of our own making.

Bending and Breaking Physical Spaces

AI agents may transform the physical world. It seems superfluous to say that our homes, offices, stores, and public spaces are designed for humans. Think of the centuries of architectural design dedicated to making those spaces useful, accommodating, safe, and efficient. Never mind the time and creativity devoted to making them aesthetically pleasing. But as robots begin to populate our society and workplaces, these locations will need to be accessible and effective for humans and robots alike. Both will need architecture and design for human-machine cooperation.

Building new physical structures is often a slow and expensive process. But humans have rebuilt our physical world to accommodate new technologies in the past, with changes in transportation offering perhaps the clearest examples. Ancient Greek roads had wheel ruts to guide carts over steep or slippery terrain. Railroads necessitated new logistical hubs and services around rail terminals. This had downstream effects, changing the value of land, expanding the potential to commute long distances to cities, and creating physical dividing lines between neighborhoods.

In the 20th century, the rise of mass-produced automobiles led to multilane highways, the construction of new parking facilities, and the rise of the suburbs. In our own time, how might autonomous vehicles reshape the physical environment? Autonomous vehicles do not have the same requirements as traditional cars with human drivers. A human driver requires parking near the driver’s end destination. An autonomous vehicle could drop off a passenger and move on to its next task. Alternatively, it could queue elsewhere, waiting for pickup time. Today, roughly 22% of land in cities with over 1 million inhabitants is used for parking. The rise of autonomous vehicles could reduce that figure, opening land to other uses. Merge lanes could be smaller, given that AVs often operate with tighter tolerances for risk than human drivers. Roads could also be narrower, with expanded room for sidewalks or bike lanes. Furthermore, without the need for steering wheels or pedals, the physical shape of cars may change, opening the possibility for new forms for the cars of the future.

Such changes won’t happen overnight, but our physical world is already being rebuilt to accommodate AI-enabled technologies. In Dallas, Texas, efforts are underway to prepare for the advent of Zipline’s drone-based delivery service. Born from a successful effort to speed the delivery of blood plasma to remote hospitals in Rwanda, Zipline has evolved to serve consumers with fixed-wing drone deliveries of everything from Starbucks to DoorDash. One of Zipline’s primary partners in the region is Walmart, which is beginning to adapt its store design to drive more convenience and efficiency in staging deliveries by drone.

Workers at one such facility recently began cutting openings into the walls of a Walmart Supercenter — not for a renovation, but for delivery drones, letting employees load packages directly from the sales floor into the sky, bypassing the free-standing charging posts the companies used at first. It’s a small, literal crack in a retail architecture built for nearly a century around one assumption: that the customer walking through the front door is human.

The impact of such efforts could soon spread far beyond individual facilities. In August Zipline announced a partnership with Uber to accelerate the use of drones in deliveries. Noting the potential effect of such parentships beyond how quickly customers could now get their next order, Zipline co-founder Keller Cliffton stated, “Every great transportation revolution has changed where people live, how businesses operate, and how economies grow.” 

Ultimately, supply stations for Zipline may become purpose-built for these kinds of workflows. New apartment buildings may be designed with convenient landing spots for the drones to drop their payloads on rooftops or courtyards. 

While many efforts exist to build humanoid robots that share our form and therefore can operate reliably in our environments, it is likely that such machines will be outnumbered by robots that abandon the human form in favor of utilitarian shapes designed for efficiency. As former Uber CEO Travis Kalanick observed in the public unveiling of his new “Atoms” platform, a specialized robot that looks nothing like a human chef could optimally tackle the task of “making 1,000 pancakes an hour,” while a humanoid, not optimized for that function, would struggle to complete this enormous task.

Some transformations are even further along. Kalanick’s CloudKitchens business, a subsidiary of Atoms, is also shifting further in the direction of purpose-built infrastructure for robots. With the remarkable rise in online food delivery, many restaurants struggle to balance service and food prep for diners in their establishments while also preparing staging and queuing delivery for takeout orders. Kalanick initially addressed that challenge by offering restaurateurs new spaces that were solely for the preparation of meals for delivery and were located strategically around cities and suburbs. Supplies came in on one side via loading docks. Kitchens were structured for high throughput and delivery vehicles lined up on the other side of the building to take finished meals and speed them along critical thoroughfares for timely and low-cost delivery. Now, that model is shifting to retrofitting these facilities for robotic food prep and kitchen design optimized for robots rather than chefs. With these new technologies, as Kalanick says, “digitizing the physical world is my life’s work.”

As we reconfigure our physical spaces for robotic collaborators, expect new expectations and disruptions. Humans want physical infrastructure built for their comfort and efficiency, with an eye towards aesthetic beauty, or at least the familiar; robots function best with simplicity, easy transit and “beauty” expressed in utility not visual appearance.

The End of Software (As We Know It)?

The software ecosystem is already being re-shaped for the convenience of AI agents. AI agents, born from large language models (LLMs), are designed to pursue goals on behalf of users with some degrees of autonomy and reasoning capability. They also feature the ability to invoke and utilize computing resources such as browsers, websites, applications and data stores to help accomplish these goals. 

Progress in this area has been rapid. The state of the art has quickly evolved from early demonstrations of agents navigating web pages to perform online shopping, a mode that visually approximates your grandparents learning how to use Amazon.com in 1999, tentatively clicking around, back-spacing and often invoking the wrong commands. Now, agents are capable of performing sophisticated workflows and traversing multiple applications by leveraging a critical artifact of modern computing, the application programming interface (API). 

APIs have become a valuable and dominant way to connect applications to data sources and to each other. Think of them as on-ramps and off-ramps that connect highways to cities—and other highways. They were part of the arcane plumbing that lies beneath the foundation of our increasingly well-crafted software and workflows. Humans engaged user interfaces to command software and engage with outputs like dashboards, while APIs labored in the background. 

Now, AI agents can command individual applications and autonomously compose those API interactions into multi-step workflows. In this world, APIs are not only the plumbing, they are the interface. Agents don’t require a beautiful canvas to function. Rather, they need to access applications seamlessly, go right to the heart of the data store or logic layer to perform an operation and then move on to the next step. Agents favor applications that are set up to help them navigate – modern APIs, machine-readable content that functions as a user guide to the platform, service-level guarantees, transaction capability and telemetry to assess effectiveness.

These shifting requirements signal the rise of “headless software,” platforms that are optimized for agents and that favor utilitarian interfaces over elegant design. This evolution has been well described by leading software entrepreneurs such as Dharmesh Shah, co-founder and CTO of HubSpot, and Aaron Levie, founder and CEO of Box. Levie has observed that “enterprises need to be able to ensure all of their software works across any set of agents they choose.” 

With the rise of headless software platforms, SaaS applications act increasingly like data repositories that agents can traverse and stitch into complete workflows. To the extent this paradigm continues to emerge, it implies a kind of relegation of some classical software applications with their elegant interfaces designed to engage humans. So-called systems of record remain valuable as reliable, persistent stores of corporate data, but they become a watering hole along the agentic journey, not a destination. Consequently, the value proposition of classical (in other words, human-centric) software may shrink commensurate with this new role and its pricing power. Perhaps the entire pricing model shifts in favor of usage or outcome-based revenue models that better align software vendors with customers’ desire for value realization.

The Worldwide Agent Web

Websites are undergoing a similar transformation. Decades of work to perfect the human appeal of websites’ user interfaces and commerce sites allow us to browse and shop in a familiar manner, loading virtual shopping items into virtual carts, and seeking our own optimal combination of price, quality and availability. However, such designs may now be superseded by austere sites that allow agents to act efficiently on our behalf. 

Each form optimizes for different functions and users. Humans browse the internet looking for images, drop-down menus, buttons, slider bars, folders, dashboards, and web forms that allow us to interact with computing in ways that are familiar and intuitive. But to AI agents, these features are distractions, barriers to their direct access to data, capabilities and logic they need to complete tasks. Humans want intuitive interfaces and appealing visuals. AI agents want “clean” API surfaces, a descriptive markdown file, and JSON schemas.

The transformation of the internet to more agentic interfaces is already underway. As Mathew Prince, the co-founder and CEO of Cloudflare, a leading internet infrastructure company, Cloudflare, said in June of this year, “Agentic traffic [is] growing so fast that bots have now passed human traffic online for the first time in the Internet’s history.”

As agents traverse the web on our behalf, the practice of Search Engine Optimization (SEO), through which websites compete for human visitation by tuning their appeal and seeking referral of users from Google and other discovery platforms, is giving way to Artificial Engine Optimization (AEO), which is designed to induce agents to promote, visit and even transact on websites by increasing their visibility and appeal to our digital delegates.

As with software, the features that optimize for agents differ significantly from the intricate features of modern internet sites built for human use. Commerce and content purveyors are scrambling to contribute their data to train LLMs and place themselves squarely in the transactional path of agents. The implications for online commerce are particularly significant: The parallel processing capabilities of AI can allow agents to comparison shop at scales and speeds far beyond the capacities of humans. 

Millions of websites have advantages of legacy and incumbency. But over time, people’s loyalty to online brands may be supplanted by the efficacy of their interfaces for agents. Unlike humans, agents don’t shop habitually or “get used to” shopping on any given platform. Dynamic pricing may become more pervasive amid these accelerated shopping sprees. A logical outcome for this development could be the rise of auction pricing at scale, where agents put out “requests for proposals” for every sweater or light bulb purchase they make on our behalf and induce online stores to compete to win every piece of business in real time. Tokenized payments may rise in use for agent-based transactions, where immutability and speed are most desirable. By the same token, tolling infrastructure may emerge that permits agents to autonomously “pay for” access to content or other online resources as they pursue our goals. Both of these possibilities could meaningfully challenge the current economic structure of the web, where human-driven search lies at the heart of online monetization and existing payment methods and rails are necessary to consummate transactions. 

How this Might Play Out 

We are beginning to see evidence that our digital and physical spaces are evolving with the advances of AI and robotics. This raises a series of critical questions. How dominant will “machine spaces” become? What models for co-existence and control will emerge? Will “human spaces” become a rounding error too?

Many of these changes are nascent. As such, they will coexist with established architectures. In these early years, we should expect the development of “parallel universes.” Software and websites built for humans won’t vanish. Factories, warehouses and stores won’t suddenly close. But a new and different infrastructure will eventually emerge – one that is designed to serve our digital workers in contexts where humans may no longer be the primary actors. 

We may begin to consider the ergonomics of agents and robots as much or more than we consider optimization for humans. While some may view this wistfully, it seems likely that these changes and the tremendous efficiency gains they promise may free up capital and creativity to build new, entirely human-centric architectures that are not burdened by the compromises necessary to accommodate people and machines but rather are tuned exclusively to our highest tastes and aspirations.

The irony is that a world redesigned for machines may eventually allow us to recover something more purely human. If factories, kitchens, warehouses, websites, and workflows become increasingly machine-native, then human spaces may be relieved of some of their utilitarian burden. We may build more places for beauty, reflection, play, learning, and community precisely because the machine world has absorbed more of the work. The danger is that human spaces become incidental. The opportunity is that they become sublime.

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.



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Kohl’s Q2 2026 earnings: stock falls as sales keep sliding

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Kohl's Q2 2026 earnings: stock falls as sales keep sliding


Kohl’s reported second-quarter results on Wednesday that showed profit and net sales both declined from a year ago, even as a one-time tariff refund lifted the company’s full-year earnings outlook.

Net sales fell to $3.32 billion from the prior year period, and same-store sales declined 0.9%. Profit came in at $151 million, or $1.28 per share, down from $153 million, or $1.35 per share, a year earlier.

Kohl’s stock fell 5% to $16.75 in premarket trading on Wednesday.

Of the $150 million in IEEPA tariff refunds the retailer collected during the quarter, roughly $100 million reached gross margin, the Wall Street Journal reported.

With the tariff refund factored in, Kohl’s updated its full-year adjusted earnings per share outlook to $1.80 to $2.40, compared with its previous guidance of $1.00 to $1.60, the company said. The company also tightened its full-year net sales and comparable sales guidance, bringing the range to flat to down 1.5% from a previously projected band of flat to down 2%.

Analysts had projected a same-store sales increase of 0.6% for the quarter, according to the Journal.

Kohl’s also said it plans to restart share repurchases of up to $100 million in 2026 under its existing $3 billion authorization. The company’s board declared a quarterly dividend of $0.125 per share on August 18, payable September 23 to shareholders of record as of September 9, the company said.

Capital expenditures for the full year are expected to fall in the range of $350 million to $400 million.



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Bitcoin’s recent buyers turn profitable – Yet $83K still blocks confirmation

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Bitcoin’s recent buyers turn profitable – Yet $83K still blocks confirmation


Bitcoin’s cycle structure has changed dramatically, making this rebound different from previous rallies.

The Bull Score jumped from 30 to 80 in one week. Eight of its 10 component indicators turned bullish. That followed Bitcoin’s [BTC] 24% recovery from approximately $58,000 to the $78,000–$80,000 zone.

The move also pulled the indicator out of a prolonged bearish regime.

Most notably, stronger Spot demand coincided with a surge in futures activity. That combination suggested that participation was growing alongside price, rather than relying solely on leverage.

Source: CryptoQuant

Historically, similar transitions appeared in 2019 and March 2023. Even though both periods still experienced 15%–25% corrections during broader advances. The false signal in 2022 prevents the current reading from being considered conclusive based on the current reading alone.

Therefore, there is a clear validation point for the structure. Bitcoin [BTC] will need to recapture its 365-day average around $83,000 to validate the regime shift. If it does not recapture this level, then the early bull signal remains conditional.

How has holder profitability supported Bitcoin?

That early-bull shift becomes clearer in the holder base, where the recovery has removed much of the financial stress behind capitulation.

As a result, Bitcoin’s bull transition has been supported by other metrics, including CryptoQuant’s Bull Score index, which jumped from 30 to 80 over a single week.

Source: CryptoQuant

The 50-point gain represents an improved environment in terms of support for the bulls. Meanwhile, the profitability of Short Term Holder (STH) is indicative of how broadly the recovery has affected the overall markets.

STH profitability changed from a loss of around 7% to a profit greater than 11%, reducing some of the selling pressure recently experienced by recent buyers.

Together, these shifts show that improvement now extends across both recent and established Bitcoin holders.

Bitcoin faces its $83K confirmation test

With holder profitability recovering, Bitcoin now faces the cost basis that separates improving conditions from broader structural confirmation.

Holders who bought near previous highs remain underwater, creating potential selling pressure as the price approaches their break-even levels.

That being said, Bitcoin has already moved past the True Market Mean near $76,500, removing one important cost-basis barrier from the recovery. This leaves $83k to $83.8k as the next major supply test.

Source: CryptoQuant

A sustained move through that zone would return more underwater coins to profit and reduce overhead supply. Until then, recently trapped holders remain positioned where renewed selling can slow Bitcoin’s advance.


Final Summary

  • Bitcoin [BTC] Bull Score jumped to 80 as holder profitability improved sharply across the market.
  • BTC now faces $83K–$83.8K, the key cost-basis zone for confirming the bull shift.



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Lotus Technology completes acquisition of Lotus UK

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Lotus Technology completes acquisition of Lotus UK


Geely-backed electric vehicle group Lotus Technology has finalised its acquisition of Lotus Advance Technologies (Lotus UK).

The move consolidates two previously separate operations into one corporate entity, encompassing both UK sportscar production and engineering consultancy services.

The transaction was prompted by put options exercised by two shareholders.

Geely International (Hong Kong) and Etika Automotive were both parties to a put option agreement dated 31 January 2023, which gave either shareholder the right to require Lotus Technology to buy out their respective holdings in the UK business.

Geely HK exercised its option first, in April 2025, obliging Lotus Technology to purchase its 51% stake in Lotus UK.

Etika Automotive followed suit in July 2025, triggering the sale of its remaining 49% holding under the same agreement.

Lotus UK operates out of Hethel, Norfolk, site of the Hethel plant where the firm’s sportscars are manufactured.

The business also incorporates Lotus Engineering, which provides consultancy services in lightweight design, aerodynamics and chassis dynamics to clients outside the Lotus brand.

Following completion of the deal, manufacturing of Lotus’s sportscars and hypercars now sits within the same ownership structure as its engineering consultancy arm.

The company stated the restructuring aims to bring engineering, manufacturing, product development and commercial functions into closer alignment, alongside simplifying governance arrangements.

Lotus Tech CEO Qingfeng Feng said: “Lotus is one brand and one strategy, and from today it is one business. Everything that makes Lotus a Lotus – the engineering, the obsession, the discipline – now sits in a single organisation. It unifies the brand, increasing our global competitiveness and accelerating product development and go-to-market speed.

“This is an important step in advancing our Focus 2030 strategy and embarking on the next chapter of Lotus’ global revitalisation.”

The firm also said its engineering and design operations, built on more than 78 years of motorsport and engineering history, will continue to be based in the UK as the company expands its international footprint.

The restructuring follows a separate development in July, when Geely began exporting Lotus-branded electric vehicles to Canada under a new bilateral trade arrangement with China.

“Lotus Technology completes acquisition of Lotus UK” was originally created and published by Just Auto, a GlobalData owned brand.



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The Biggest Victims Of Trump’s Economic D-Day On Iran

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The Biggest Victims Of Trump’s Economic D-Day On Iran


Trump’s “economic D-Day” against Iran is built around one of Washington’s most powerful weapons: access to the U.S. financial system. The problem is that the deeper Washington pushes into Iran’s remaining trade, the bigger the targets become.

China buys more than 80% of Iran’s seaborne crude. Iraq relies on Iranian gas for as much as 40% of its electricity generation. Turkey imported 4.5 bcm of Iranian gas in the first half of this year, while India still maintains a heavily one-sided trade relationship with Tehran. The UAE, once one of Iran’s most important commercial and financial conduits, has already suspended dealings with Tehran.

The U.S. Treasury can sanction tankers, traders and small Chinese refiners without creating much collateral damage outside the Iranian trade. Going after the major banks financing that commerce is different, however. The same is true of forcing Baghdad to choose between complying with Washington and keeping Iranian gas flowing to Iraqi power stations.

The Trump administration took a cautious approach on Monday. Its first round targeted nearly 60 individuals, companies and vessels and expanded sanctions across shipping, aviation, technology, gold and digital assets, but left China’s major banks untouched.

That leaves the most powerful part of Trump’s threat still hanging over Iran’s trading partners. If the first round fails to cut Iranian commerce sufficiently, Washington can move from sanctioning the networks built to evade U.S. restrictions to targeting the banks and companies that still have substantial business to lose in the United States.

Here are five countries facing some of the hardest choices under Trump’s new economic offensive against Iran.

#1. China

No country buys more Iranian oil than China, making Beijing the largest remaining source of hard-currency revenue for Tehran. Chinese imports reached 1.58 million barrels per day earlier this year before the war and U.S. blockade began squeezing those flows, with shipments falling to roughly 534,000 bpd so far in August from 823,000 bpd in July, according to Reuters.

But China has spent years building an oil trade with Iran designed to minimize its exposure to U.S. sanctions. Independent teapot refineries buy much of the crude, tankers use ship-to-ship transfers and other methods to disguise its origin, and transactions are settled in Chinese currency through difficult-to-track intermediaries. Washington has repeatedly targeted pieces of that network, including Chinese refiners, trading companies and vessels involved.

Related: The 60 Day Peace Window Closed, and Trump’s Iran Strategy May Shift Dramatically

Those sanctions have disrupted individual companies without stopping the trade. Iranian oil flows to China reached 1.58 million bpd as recently as February even after Washington intensified sanctions on Chinese buyers. Major Chinese banks are a much more powerful target because they still depend on dollar clearing and access to the wider international financial system.

Bessent stopped short of sanctioning those banks on Monday, saying the Treasury wanted to give countries time to cut their exposure before the new sanctions are enforced. But he also promised a “major announcement” involving a financial institution by the end of the week. The Treasury has already warned two larger Chinese banks that they could face secondary sanctions if Iranian funds are found moving through their systems, according to Reuters.

Going after a major Chinese bank would carry much higher costs for Washington. Trump and Xi are scheduled to meet in Washington in late September, with both sides trying to preserve the trade agreement struck last November on U.S. tariffs and Chinese rare-earth supplies.

China therefore remains the biggest test of how far Trump is prepared to take “economic D-Day.” Beijing has repeatedly rejected unilateral U.S. sanctions, while previous U.S. measures have failed to stop Iranian crude from reaching Chinese refiners

#2. Iraq

Iraq is already struggling from the effects of the U.S.-Iran war. Iraq’s state budget is almost entirely dependent on oil exports, which have been devastated by the naval blockades and maritime crossfire in the Persian Gulf. Following the closure of the Strait of Hormuz, Iraq’s southern oil exports plummeted by 75%, with monthly oil revenues dropping to a meager $1.2 billion, leaving the government unable to balance its books.

Iran’s natural gas is absolutely critical for Iraq’s energy sector, with Iran importing $4 billion to $5 billion worth of natural gas annually from its neighbor to fuel its power stations. Indeed, Iranian gas accounts for 30% to 40% of Iraq’s electricity generation, and Trump’s warning that any country providing a lifeline to Tehran will face “tremendous economic consequences” directly threatens the temporary U.S. sanctions waivers Baghdad previously enjoyed.

Iraq is facing catastrophic power grid collapses if Washington fully enforces these secondary sanctions, hollowing out basic electricity access for millions of Iraqi citizens during peak season, according to Reuters.

#3. Turkey

Turkey’s pain from the war in Iran is set to only get worse as Washington tightens the noose on Tehran. Turkish manufacturing and textile sectors are reeling from soaring shipping costs and tightening supply chains. Turkey relies on Iran and the wider Gulf region for key manufacturing inputs, including everything from petrochemicals and helium to aluminum and around half of its fertilizer. Turkey is already facing energy supply disruptions coupled with acute inflationary pressures, with fuel prices surging by roughly 50%. These ballooning energy import costs are heavily weighing on Ankara’s balance sheet, with the value of Turkey’s energy imports projected to outweigh its total exports by up to $40 billion this year.

Meanwhile, Turkey’s 25-year deal to buy up to 9.6 bcm of natural gas annually from Iran via the Tabriz-Ankara pipeline officially expired at the end of July 2026, with the war preventing the two sides from negotiating a new agreement. Turkey’s imports of Iranian gas spiked 34% Y/Y to 4.5 bcm during the first half of 2026, eclipsing Russian supplies, with only Azerbaijan supplying more gas. 

Turkey is far less dependent on Iranian gas than it was when the original supply agreement was signed. Ankara has expanded pipeline imports from Azerbaijan and Russia, built out its LNG import capacity and added floating storage and regasification terminals, giving it several alternatives when Iranian volumes disappear. 

But replacing Iranian gas comes at a price. The Tabriz-Ankara pipeline delivers gas directly into eastern Turkey, where alternative supplies are more difficult and expensive to move, while Iranian pipeline gas has historically been among Turkey’s cheaper sources. Losing those volumes would not leave Turkey without gas, but it would force Ankara to lean harder on LNG and other suppliers just as the war is already pushing up its energy import bill.

#4. India

India has relatively little exposure to Iranian crude compared with China, although purchases have resumed under U.S. exemptions. India imported $707 million worth of Iranian oil during the first half of 2026, according to government data cited by Reuters.

U.S. sanctions have already reduced trade between India and Iran to a fraction of its former size. Bilateral trade fell to $1.63 billion in the 2025/26 fiscal year from $17 billion in 2018/19, with Indian exports now dominated by goods such as basmati rice, tea and pharmaceuticals, according to Reuters. That has left India with a substantial trade surplus with Iran, but the remaining trade is now directly exposed to Trump’s latest sanctions push.

India faces a much larger problem from the war itself. The world’s third-largest oil consumer imports close to 90% of its crude, leaving its economy highly exposed to the surge in energy prices. Higher import costs have put additional pressure on the rupee and inflation while increasing the government’s energy bill.

India’s remaining trade with Iran is heavily weighted toward Indian exports, including rice, tea and pharmaceuticals, with substantial volumes traditionally going through Dubai. The UAE’s decision to halt financial and commercial dealings with Iran has already disrupted that route, forcing Indian exporters to look for alternatives including Turkey. Further U.S. restrictions could squeeze what remains of a trading relationship that has already fallen more than 90% from its 2018/19 peak.

#5. United Arab Emirates

The UAE was one of Iran’s most important economic lifelines before the war, exporting roughly $21 billion worth of goods to Iran in 2024, equivalent to about 30% of Iranian imports. Iran also relied heavily on Dubai as a financial, logistics and re-export hub, making the UAE one of the most important routes connecting Iranian businesses to the wider global economy.

But Abu Dhabi has already moved to cut that exposure. On August 19, the UAE suspended all financial and economic dealings with Iran until further notice after detecting two ballistic missiles launched from Iran toward maritime traffic near Emirati waters. Tehran denied targeting the UAE. The move effectively puts the UAE ahead of Trump’s new sanctions push, sharply reducing the risk that Emirati companies will be caught maintaining the kind of commercial links Washington is now targeting.

That doesn’t mean the economic cost couldn’t still be heavy. The UAE was Iran’s largest source of imports before the war, while Dubai built decades of commercial ties with Iranian traders and businesses. Cutting those links therefore protects the UAE from Washington’s secondary sanctions, but also eliminates billions of dollars in trade.

By Alex Kimani for Oilprice.com

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Mikaela Mayer Vs. Chantelle Cameron Full Card, Date, Time and How to Watch

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Mikaela Mayer Vs. Chantelle Cameron Full Card, Date, Time and How to Watch


Mikaela Mayer will tangle with Chantelle Cameron on Saturday in Birmingham, England in a title unification bout for Mayer’s WBA and WBC super welterweight titles and Cameron’s WBO strap. This one is an intriguing matchup for multiple reasons. Mayer and Cameron are top stars in women’s boxing, there’s two legitimate world titles on the line and there’s an interesting contracted weight. Let’s talk boxing.

Mikaela Mayer vs. Chantelle Cameron Key Facts

Detail Info
Main event Mikaela Mayer vs. Chantelle Cameron
Date Saturday, August 29, 2026
Venue bp pulse LIVE, Birmingham, England
Event MVPW-06: UK vs. USA
Titles at stake WBA, WBC and WBO super welterweight
Contracted weight 148-pound catchweight
Format 10 rounds, two minutes each
Prelims start 5 p.m. BST, 12 p.m. ET, 9 a.m. PT
Main card start 7 p.m. BST, 2 p.m. ET, 11 a.m. PT
Main event ring walks Approximately 9:30 p.m. BST, 4:30 p.m. ET, 1:30 p.m. PT
How to watch, US ESPN+
How to watch, UK Sky Sports
Records Mayer 22-2, 5 KOs. Cameron 22-1, 8 KOs

The catchweight is 148 pounds, six under the 154-pound limit these belts are normally defended at, and Mayer has said she must return to 147 or be stripped there. Her most recent Claressa Shields talk points at 160 rather than 154, per remarks both fighters made this week. The IBF belt sits with Oshae Jones and is not in this fight, so the winner cannot claim undisputed.

Mayer has said the contracted weight for the fight is 148 pounds because she wants to protect her ability to return to welterweight where she feels she has some unfinished business. Still, Mayer is also eyeing a potential clash with Claressa Shields at 154 down the line.

The only title in the division that won’t be on the line is the IBF crown. That title is currently held by Oshae Jones. A matchup between Jones and the winner of Mayer-Cameron is also a possibility.

Mayer used to be the WBO champion, but she vacated the title. Cameron moved up from super lightweight and defeated Michaela Kotaskova to win the vacant belt. This fight gives Mayer a chance to win back a belt she never lost in the ring.

More Women’s Boxing Coverage

Mikaela Mayer vs. Chantelle Cameron Full Card

Card as announced by Most Valuable Promotions.

Bout Weight Class Titles
Mikaela Mayer vs. Chantelle Cameron Super welterweight WBA, WBC, WBO
Caroline Dubois vs. Amelia Moore Lightweight WBC, WBO
Terri Harper vs. Miranda Reyes Super lightweight None
Reina Tellez vs. Jessica Barry Featherweight None
Tysie Gallagher vs. Brandi Robinson Super bantamweight None
Neeraj Goyat vs. Yessin Koulali Super lightweight None
Gemma Richardson vs. Kirstie Bavington Super lightweight None
Scott Melvin vs. Dylan Cheema Lightweight None

Additional preliminary bouts are scheduled.

Who Holds The Super Welterweight World Titles

Champions as recognized by the sanctioning bodies.

Sanctioning Body Champion
WBA Mikaela Mayer
WBC Mikaela Mayer
WBO Chantelle Cameron
IBF Oshae Jones



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ICP down 99.69% from $700 ATH – Biggest loser among 60 cryptos, says report

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ICP down 99.69% from $700 ATH - Biggest loser among 60 cryptos, says report


Few coins may be riding on the market’s risk-on rotation, and Internet Computer [ICP] seems to be showing similar signs.

In mid-August, strong capital inflows pushed Bitcoin above $75k, with most altcoins following higher. Some performed even better than BTC, with XRP/BTC rallying over 20%, signaling clear rotation into XRP.

This suggests that the outlook for ICP is not as bullish as some may think. As the chart below shows, ICP rallied a modest 7.56% during the same period, underperforming most of the altcoin market and providing little evidence of a strong bullish trend.

The key takeaway? ICP is showing clear weakness on a relative basis.

ICP
Source: TradingView (ICP/USDT)

On the rotational front, the ICP/BTC ratio dropped 11.4% between the 17th and the 23rd of August, its largest weekly decline in over two months. By contrast, the XRP/BTC ratio jumped 23% in the same period. What it means is that while capital was rotating into XRP, ICP was lagging behind BTC.

Combined with the weakness on an absolute basis, ICP’s weakness on a relative basis also suggests a bearish bias. The weakness puts its ongoing $2-$3 consolidation in a weaker light, making the range look more like a period of continued weakness than a strong base.

Notably, a recent report adds to this setup, ranking Internet Computer [ICP] as the biggest loser among 60 major cryptocurrencies.

ICP’s 99%+ drawdown fuels bearish case

ICP’s already weak price action gets another blow, as per a recent Taurex report

The report compared the all-time highs (ATH) and current value of 60 cryptocurrencies to determine which ones underperformed the most. As per the findings, ICP recorded the largest drawdown from ATH at 99.69%, being significantly ahead of the pack.

One analyst told AMBCrypto:

Internet Computer has lost over 99% of the value from its ATH price of $700, and now it trades at just over $2. It means that almost every investor who bought the tokens at the peak has suffered significant losses.

Moreover,

ICP peaked in May 2021, during the last bull run, and has been constantly dropping since then. In fact, right now, Internet Computer’s market value is only 1.2 billion, which is substantially lower than its highest peak, making it the biggest loser among the rest according to our research.

In this context, the recent price action of ICP does not seem to inspire much FOMO.

In particular, during the altcoin season of mid-August, ICP only managed to increase by 7.56%, relatively lower than most of its counterparts. During the same period, the ratio of ICP/BTC decreased by 11.4% to reach the lowest weekly close since May. On the contrary, XRP/BTC rose by 23%.

Thus, with ICP’s overall low performance and consistent underperformance versus Bitcoin [BTC], the bearish setup remains intact. This puts the $2 level at risk, with a break below it exposing ICP to further downside.


Final Summary

  • Internet Computer is lagging the broader altcoin rally, gaining just 7.56% while the ICP/BTC ratio fell 11.4%, signaling weak relative strength.
  • The bearish setup remains intact, with the altcoin down 99.69% from its ATH and its $2-$3 range now facing pressure, putting $2 support at risk.



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