Live news: Georgia prosecutor denies state has filed charges against Donald Trump

Activity: Beijing’s new rules on generating artificial intelligence take effect. China’s Cyberspace Administration of China said it would “promote innovation” in the updated AI measures, but “pay equal attention to development and security”. Chevron and Woodside Energy Group have held talks with Australian liquefied natural gas plant workers who are considering strike action.

index: China releases data on industrial production, retail sales and employment for July. Japan’s Cabinet Office released second-quarter economic growth data, while the Ministry of Economy, Trade and Industry released a revised index of industrial production for June. South Korea releases trade data. The Reserve Bank of Australia released the minutes of its July meeting.

company: Vietnamese automaker VinFast plans to list on Nasdaq. Vineyard group Treasury Wine Estates reported quarterly earnings. South Korea’s Daewoo Shipbuilding & Offshore Engineering, Taiwan’s China Airlines and the National Australia Bank also released reports.

market: Stock exchanges in India and South Korea were closed for public holidays.

Warren Buffett’s Berkshire Hathaway on Monday unveiled $814 million in investments in three U.S. homebuilders, betting on an industry benefiting from supply shortages.

Berkshire disclosed that it has purchased 6 million DR Horton shares (valued at approximately $726 million as of the end of the second quarter), 152,572 Lennar shares and 11,112 NVR shares.

Shares of homebuilders and companies that serve the industry have rallied this year after a tough 2022 when rising interest rates dampened demand.

However, while higher mortgage rates have slowed existing home sales, new home sales have remained surprisingly strong due to limited supply.

Private industry group Esmark said it has acquired U.S. Steel for about $10 billion, including debt, in all cash, becoming the second company in two days to announce a takeover.

James Bouchard’s family-controlled group said on Monday it had offered to buy US Steel for $35 a share, but it gave no details on how it planned to finance the deal, nor did it disclose Names of investment banks and law firms advising it. bid.

Esmark’s move came a day after U.S. Steel rejected a $35-a-cash and stock offer from Cleveland-Cliffs, North America’s largest flat steel producer.

Learn more about U.S. Steel’s bidding war here.

A Montana judge ruled in favor of youth climate activists Monday in a landmark case that established young people’s right to a “clean and healthy environment.”

District Court Judge Kathy Seeley found the state’s exclusion of greenhouse gas emissions impacts from oil and gas permits “prima facie unconstitutional.”

The court case, filed in March 2020, is the first of its kind involving constitutional claims to go to trial.

During a week-long trial in June, the plaintiffs testified alongside climate scientists and medical experts about the negative effects of climate change on the well-being and development of young people.

The Fulton County District Attorney’s Office has denied reports that Georgia has filed a legal challenge against Donald Trump, even though prosecutors are preparing a fourth indictment against the former president.

The Atlanta office, which has been investigating Trump and others for alleged meddling in the 2020 presidential election, said Monday that reports of charges against the former president in Georgia were “incorrect.”

A filing appeared on the Fulton County Court website on Monday suggesting Georgia would charge Trump with racketeering, false statement and conspiracy, but was later unavailable, Reuters reported.

The office did not immediately respond to inquiries about the pending report.