Equities fell around the world after leaders of the biggest artificial-intelligence firms proposed slowing the technology’s development.
Anthropic and OpenAI are promising measures to rein in the pursuit of cutting-edge AI models to better understand the risks posed by the technology following a series of security breaches.

Oil pushed higher as Saudi Arabia’s closure of a major crude pipeline following attacks jolted the market, with the move disrupting a route that’s been key to bypassing the Strait of Hormuz during the US-Iran war. Meanwhile a planned meeting between Iran and several Gulf nations on creating a temporary shipping lane through the Strait has been postponed, according to Oman’s foreign minister.

Sweden’s election will go down to the wire, the tightest in its history, and one that will hinge on the complete counting in coming days of late-arriving ballots and votes from overseas.

Today’s guests: Rachel Baxter, Vanguard European Head of Investment Management; Ayako Fujita, JPMorgan Chief Japan Economist; Cathryn Cluever Ashbrook, Bertelsmann Stiftung Senior Adviser

—
“The Pulse With Francine Lacqua” is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.

Chapters:
00:00:00 – The Pulse with Francine Lacqua
00:00:26 – AI leaders call for development slowdown
00:06:36 – Saudi shuts oil pipeline that bypasses Hormuz
00:09:22 – Rachel Baxter, Vanguard, European Head of Investment Management
00:16:20 – Ayako Fujita, JPMorgan, Chief Japan Economist
00:23:27 – Monday headlines
00:23:56 – Swedish election race too close to call
00:27:34 – Cathryn Clüver Ashbrook, Bertelsmann Stiftung, Senior Adviser
00:34:54 – Trump demands Ukraine halt refinery strikes
00:37:20 – Trump: Would love to see ‘united’ Ireland
00:40:39 – Central bank decisions this week
00:44:03 – Mapping AI’s economic impact
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Gazprom PJSC declared force majeure on several European natural-gas buyers, a move that may signal it intends to keep supplies capped, reinforcing Russia’s grip on the region’s energy. Bloomberg’s Rachel Morison reports on how this could impact the gas supply for Europe now and into the winter. She’s on “Bloomberg Markets: European Close.”

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Airport lounges were built to feel exclusive. Then airlines gave almost everyone a way in. Now these same airlines are trying to restore that exclusivity, and their solution has made lounge access remarkably complicated. Sri Taylor reports.
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This week, while Venezuela has the oil reserves to impact global energy markets, rebuilding production will take years, billions of dollars and investor trust. And, Europe’s solar success is creating growing pains for investors, generators and power markets. Plus, can data centers turn Scotland’s wasted wind into an AI advantage? Later, a more dangerous world is pushing the Pentagon and Silicon Valley closer together, creating a new boom in defense and space technologies.

Chapters:
00:00:00 – Venezuela’s Oil Test
00:11:06 – Europe’s Solar Problem
00:23:53 – Wasted Wind Power
00:35:43 – Defense Tech Boom
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US retail sales rose broadly in August showing that consumers are still spending despite higher gasoline prices. Twelve of 13 retail categories reported increases, boosted by back-to-school shopping. Sales were up by 1.2% beating the estimate of 0.8%. Bloomberg’s Michael McKee reports from Washington.
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