Nvidia China Chip Payments, Tax Hike Hurts Jobs, Private Credit’s Losers

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Nvidia and Advanced Micro Devices agreed to pay 15% of their revenues from Chinese AI chip sales to the US government in a deal to secure export licenses, an unusual arrangement that may unnerve both US companies and Beijing.

(2) European nations are seeking to talk to Donald Trump ahead of the US president’s planned meeting in Alaska with Russian leader Vladimir Putin, according to people familiar with the matter.

(3) Israeli Prime Minister Benjamin Netanyahu defended his plan for a military sweep against the final Hamas strongholds in Gaza, calling it the best available option for recovering hostages while safeguarding his country’s long-term security — an argument that’s met vocal opposition at home and abroad.

 
(4) It was a “trailblazing” project - and for the two small pension funds that helped finance it, a chance to prop up the retirement savings of dentists and pharmacists in rural northern Germany. We look at Germany's biggest property crash since the financial crisis.

(5) The UK jobs market weakened across the board in July as employers cut their payroll budgets in response to Chancellor of the Exchequer Rachel Reeves’ £26 billion ($34.9 billion) tax increase, according to a survey closely monitored by the Bank of England.

 
(6) European Central Bank officials will wait until December to deliver their next interest-rate cut in what is likely to be the final move in the cycle, a Bloomberg survey showed.

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