Crypto News: Hollywood is having an AI moment

Good morning. AI is no longer science fiction for Hollywood. FlyDubai’s heroic pilot saved passengers’ lives. And what price a British sheepdog? Listen to the day’s top stories.

— Angela Cullen

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Hollywood built a whole genre around artificial intelligence, the thinking machine, and the idea of androids wiping out humans. Now it wants a leading role in deciding when AI tools should be applied — or avoided — in movie-making. Former Lucasfilm boss Kathleen Kennedy says the industry has “a leadership void,” while actor Ben Affleck is more worried about AI’s impact on children, and Netflix’s Ted Sarandos wants it to help speed up growth. They’re all in LA to discuss the next frontiers.

The stock market isn’t hanging around for the debate. Microsoft’s standing in the AI landscape is on the up and up, with Wall Street betting its shares can keep rallying. The AI building frenzy was behind Micron’s upbeat forecast on Wednesday, although it warned that rising pay levels may weigh on margins. Tesla’s shift from carmaker to AI powerhouse has analysts upgrading the stock as a “don’t bet against Musk” mantra takes root. But they’re not the only equities to watch. Coal, Coke, pizza and movies also warrant a closer look.

Global bonds continue to grapple with stubborn inflation and warnings that rates may stay higher for longer. “We do not think long-term yields have necessarily reached a self-stabilizing level yet,” said Axa’s chief economist Gilles Moec. Brent climbed back above $100 a barrel. President Donald Trump signaled that his appetite to ban US diesel exports has cooled given the risk of unintended price spikes. The rising cost of the fuel is hurting farmers, truckers and his voters’ wallets. Soaring student loan bills are adding to affordability woes, too.

Fresh details about the near-catastrophic attack on the pilot of a FlyDubai aircraft revealed that he heroically managed to unlock the door to the cockpit after being stabbed, and help save the 174 passengers on board. Wednesday’s incident revives a decades-old debate over whether commercial aircraft should be equipped with video recording equipment, as well as concerns about crews’ mental health, and recalls past incidents of pilot murder-suicides. Israel’s Benjamin Netanyahu said it was too early to say whether the attacker had links to Iran.

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Deep Dive: Paying for Climate Change

A farmer sprays fertilizer in a sugar cane field in Thailand.

The current El Niño is shaping up to be one of the strongest on record. And it’s not just playing havoc with the weather, it’s also driving up food inflation.

Sugar offers an early glimpse of what may be in store for other crops, including rice, cocoa, coffee, and palm oil. At the start of the year the market faced a glut, but El Niño is powering a sharp reversal. India, the world’s No. 2 producer, is already taking contingency measures.
El Niño, which emerged in June, has strengthened since then, and the US Climate Prediction Center has said the chances of it becoming “a historic event” are extremely high.
Less a result of this El Niño, Switzerland’s melting glaciers are nonetheless a symptom of climate change that are forcing whole populations to rethink and pose a threat to human life.
Meanwhile, inflation is pushing governments toward ways to alleviate climate change. Take balcony solar: California now permits the technology, an economic powerhouse that could jump-start the market.

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Before You Go

Horse-racing thoroughbreds, fine. But when did the British sheepdog become a luxury investment? A visit to an auction in northern England reveals a marketplace for elite border collies, with one American spending about $40,000 to bring one home.

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