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Nvidia-backed Reflection AI unveils Beam, its first frontier open-weight model

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Reflection AI, a Brooklyn-based startup backed by Nvidia, has introduced Beam as its first frontier open-weight model.

The company says Beam competes with mainstream open-source models on advanced reasoning benchmarks while dramatically reducing token costs and inference compute compared with rivals.

Beam is a text-only mixture-of-experts model trained with high‑compute reinforcement learning and is designed for reasoning, coding, and agent tasks.

Beam comprises 501 billion total parameters, with 23 billion active parameters. It was pretrained on 23.8 trillion tokens and features a context window of up to 1 million tokens.

Reflection notes that its performance claims have not been independently verified, but says Beam scores on par with Z-ai’s GLM-5.2 on advanced reasoning benchmarks, outperforms current mainstream Western open-source models, and requires three to four times less inference compute. The company positions Beam as a flagship model for enterprises, the public sector, and developers.

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Dimon: Bank cyber risk up 10x after Anthropic's Mythos AI release

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Jamie Dimon said artificial intelligence is creating new security vulnerabilities for banks, and that cyberattack risk has risen tenfold since Anthropic released its Mythos AI model.

He spoke in an exclusive interview with Bloomberg's Tom Mackenzie at the JPMorgan Tech Stars Conference in London.

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Euro Area Retail Sales Rise in August as Fuel Purchases Fall

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In August, euro area retail turnover rose 0.1% on the month, reversing July's 0.6% decline, according to Eurostat data cited by Sina Finance. Economists had expected a 0.3% gain.

Sales of food, beverages and other non-fuel goods edged higher, with Germany showing a notable improvement in August.

Fuel sales fell 1.9% from July as oil prices rose during the month.

Capital Economics' Harry Chambers noted that fuel purchases may fall again if oil prices rise further in September, pointing to Brent crude briefly rising above $105 a barrel.

On a year-over-year basis, August sales were 0.8% higher than a year earlier. Chambers cautioned that consumer spending is likely to stay resilient but cool from the brisk pace recorded in Q2.

Pantheon Macroeconomics' Claus Vistesen argued the data imply weaker retail consumption in the current quarter, with July and August averaging about 0.3% below Q2. He also suggested that the retail figures underestimate overall consumer strength, citing strong car sales and resilient services spending.

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Constellation Energy Advances on Google Nuclear Pact; Option Care Surges on Buyout Talks

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Constellation Energy rose more than 6% after Google announced long-term power deals tied to 890 megawatts of new nuclear capacity, along with a separate 2,700-megawatt supply agreement, supporting more than $4.3 billion in new Constellation investment.

Alphabet shares were modestly higher, gaining about 0.5%.

Option Care Health surged more than 20% after the Financial Times reported that McKesson and private equity firm Clayton Dubilier & Rice are in advanced talks to jointly acquire the infusion services provider in a deal valued at over $5 billion.

McKesson rose about 1.5%.

Berkshire Hathaway disclosed in a regulatory filing that it purchased roughly 2.4 million Lennar shares, with Lennar stock up about 1.5%.

NeoGenomics climbed 5% after outlining a succession plan that would see Warren Stone succeed Tony Cook in January 2027, along with preliminary third-quarter revenue of $209 million, above the $205.9 million consensus estimate.

AMD edged higher, rising nearly 2%, after Citi lifted its price target to $800, citing stronger CPU demand driven by Meta's Muse AI agent and predicting AMD as the primary beneficiary of a CPU recovery.

Procter & Gamble rose about 1.2% following an Evercore ISI upgrade to outperform and a raised target of $166.

Corteva gained almost 3% after JPMorgan upgraded the stock to overweight with a $19 target, citing a sharpened focus on crop chemicals and improving agricultural commodity prices.

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Strategy Market Cap Surpasses Rumble as Bitcoin Treasuries Rankings Shift

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Bitcoin Treasuries data indicate that Strategy has overtaken Rumble in market capitalization, while Strive has climbed ahead of more than 140 public companies in the past month.

The development illustrates how holding Bitcoin can influence a company's valuation as Bitcoin prices and investor demand shift.

For firms pursuing this approach, market capitalization remains highly sensitive to movements in the Bitcoin price and to the premium or discount investors assign to their BTC holdings.

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EU to Finalize Tax Reporting Overhaul This Year, Targeting 2027 for Simplification Bill

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The European Commission aims to complete a full revision of its tax reporting framework by the end of this year, with a separate simplification bill to be advanced for approval by 2027.

Benjamin Angel, director of the EC's Direct Taxation Department, spoke during an online conference hosted by the U.S. branch of the International Fiscal Association.

The simplification proposal would relieve large multinational groups from complying with certain EU anti-tax-avoidance rules and is expected to be approved by the end of 2027.

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FAA Grants Boeing 777F Emissions Waiver Through 2030

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The U.S. Federal Aviation Administration has approved Boeing to produce and deliver 35 additional 777F freighters, enabling airworthiness certificates to be issued under the 2028 emissions rules. The waiver extends through December 31, 2030 and covers only the 35 newly built aircraft, Sina Finance reported.

Under the approved plan, Boeing may request original airworthiness certificates for up to 35 777Fs beginning January 1, 2028. The article notes Boeing expects to complete the batch in about 18 months at a production pace of roughly two aircraft per month.

The waiver does not provide a long-term exemption from emissions standards. Existing 777Fs are not affected, and the rules apply only to airplanes first certified from 2028 onward.

The framework relies on ICAO carbon certification standards. Some subsonic jets must meet new fuel-efficiency and greenhouse-gas thresholds from 2028, and the current 777F would otherwise have had to stop production by the end of 2027.

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Reform UK Proposes 10% Crypto Tax, £100m Annual Cut

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Reform UK is reportedly proposing a 10% capital gains tax on crypto investments, a move that would reduce the annual tax take by about £100 million. Current rates are 24% for higher-rate taxpayers and 18% for basic-rate taxpayers.

The proposals emerged days after Reform received £72 million from two crypto billionaires, according to NS3.AI.

Tax experts warned that such cuts could have a negative impact on the UK economy.

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