Good morning. President Trump asks the Supreme Court to uphold his global tariffs, a case that may impact trillions of dollars of trade. Tech leaders are gearing up to discuss AI at the White House. And the New York Giants are up for sale. Listen to the day’s top stories.

By Maddie Parker and Omar El Chmouri

Donald Trump asked the Supreme Court to uphold his global tariffs, seeking review in a case that may affect trade across the globe. Meanwhile, China started charging levies on additional US optical fiber imports after an investigation found that American companies circumvented anti-dumping measures. Japan's top trade negotiator is visiting the US after progress at staff-level talks.

Bridgewater funds are getting so popular in China that wealthy investors are said to be pouring billions into private banks just for access. China's financial regulators are considering curbs on stock speculation due to concerns about the speed of a $1.2 trillion rally since the start of August. In Europe, Ukraine's allies fear Russia is readying a new assault as it masses forces in the east. 

Tech industry leaders will attend an AI event hosted by First Lady Melania Trump, who’s launching a challenge to encourage students to use more emerging technology. Apple CEO Tim Cook is expected to be among them after announcing plans to launch Apple’s own AI-powered search tool next year. In other tech news, TikTok is feeling the heat from rival RedNote, whose valuation hit $31 billion in just three months.

Gold could rally toward $5,000 an ounce if the Fed’s independence is dented and investors shift a portion of holdings from Treasuries to bullion, Goldman Sachs said. In crypto news, Eric Trump’s American Bitcoin stake is now worth about $548 million, highlighting how the first family is profiting from the digital-asset industry.

Tesla has opened its robotaxi app to the general public who can join the waitlist, suggesting the service will be rolled out soon beyond early-access users in Texas. In other corporate news, Chinese EV maker BYD has slashed its full-year sales target amid intense competition in its home market, and apparel retailer American Eagle shares skyrocketed on the back of its controversial ad campaign starring actress Sydney Sweeney.

Deep Dive: Targeting Alzheimer’s

Illustration: Hoi Chan for Bloomberg Businessweek

Novo Nordisk is testing its newer Ozempic-style drugs' effects on Alzheimer's disease, with trial results due this fall. This came after a team noticed that diabetes patients who used GLP-1 drugs had a lower risk of dementia diagnosis.

• Analysts estimate a 1 in 10 chance that the company could generate an additional $15 billion in annual sales for Alzheimer's treatment. That would be a much needed boost for the drugmaker, which cut its growth forecast twice this year.
• Alzheimer’s is a notoriously difficult area of drug development, with hundreds of promising studies having failed over the years. There’s still no medicine to prevent or reverse the diagnosis.
• Eisai and Eli Lilly drugs approved in the last three years slow the progress of the disease by only about one-third, and can sometimes cause fatal bleeding in the brain. The Novo trials are the largest studies yet for a different category of medicines.

The Big Take

Illustration: Vartika Sharma

BioZorb, a medical device once touted as a breast cancer breakthrough, has instead tormented hundreds of women. Its maker, Hologic, hid complaints from the public and the FDA.

Opinion

The US is outsourcing its Gaza policy to Israel, Andreas Kluth writes. The Trump administration resists the label “genocide” even as more politicians (even among Trump’s MAGA base) as well as jurists and scholars adopt it.

Before You Go

New York Giants helmets. Photographer: Luke Hales/Getty Images

The New York Giants agreed to sell a minority stake to members of the billionaire Koch family, according to people with knowledge of the matter. As much as 10% of the storied franchise is for sale, and the potential valuation could break $10 billion, making it one of the most expensive teams ever.

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