South Africa’s economy is seen ending its longest quarterly growth streak in almost a decade as the war in Iran crimps domestic demand and key sectors accounting for almost a fifth of gross domestic product contract, according to Bloomberg. The report said the contraction would mark a break in the country’s recent run of expansion.

Qianhai Kaiyuan Fund and Morgan Fund said on September 7 they will end all fund sales cooperation with UBS Fund Sales (Shenzhen) Co. from September 21, after UBS Fund Sales said it will suspend its fund distribution business, according to Jiemian News. Investors holding the relevant funds through UBS Fund Sales must complete share transfer custody or redemption by 3:00 p.m. on September 11. UBS Fund Sales was established in 2018 and is wholly owned by UBS Group. It launched the Ruifuzhong App in 2022, described as UBS Group's first digital wealth-management platform in Asia-Pacific. Jiemian News reported that several other fund distributors, including Zhongzheng Jinniu (Beijing) Fund Sales, Puling Fund and Kaishi Wealth, have also announced closures this year. Puling Fund said on June 8 that it would be unable to provide normal fund sales services from June 30 because it had lost its ability to continue operating. Qianhai Kaiyuan Fund said investors who miss the deadline will have their fund shares transferred to the company's direct-sales platform, with cash remaining safe but short-term trading restricted until personal information is completed. A fund company executive told Jiemian News that customer service teams began contacting investors at UBS Fund Sales from September 7 by text message, phone and email to remind them to redeem or transfer their holdings. A market executive at a major online distribution platform said the shakeout has accelerated because of fund sales fee cuts introduced earlier this year. The new rules lowered annual sales service fees for stock and mixed funds to 0.4% from 0.6%, for index and bond funds to 0.2% from 0.4%, and for money market funds to 0.15% from 0.25%. The executive said direct-sales channels also waive subscription and sales service fees, adding pressure on distributors. Jiemian News also cited first-half results showing stronger performance at leading platforms. Ant Fund reported revenue of 12.98 billion yuan, up 40% year on year, and net profit of 1.209 billion yuan, up 179%, exceeding its full-year 2025 net profit of 1.085 billion yuan. Tiantian Fund reported revenue of 2.102 billion yuan, up nearly 48%, and net profit of 111 million yuan, up 73%.

Xiaomi officially launched the Pengcheng N90 Max Explorer Edition on the evening of September 7, pricing it at 299,900 yuan, according to Jiemian News. The vehicle comes with an electric pop-up roof, and its interior height can reach 2.29 meters, allowing passengers to stand inside.

Deutsche Bank AG strategist Henry Allen said investors are underestimating how much rates may need to rise to curb inflation, citing upward pressure on prices, according to Bloomberg. Allen said traders are wrong on rates or prices.

According to Wallstreetcn, Xiaomi's two Xuanjie terminal products launched tonight, marking Xuanjie O3's formal entry into mass production and commercial use. Lei Jun said Xuanjie O100 and Xuanjie D100 will also be officially commercialized next year, and that Xiaomi has become one of the few technology companies in the world to simultaneously develop smartphone SoCs, AI accelerator chips, and smart-driving chips. Lei said Xiaomi is still a latecomer in chips and that today's achievements only mean it has just begun.

Strive Chief Executive Officer Matt Cole hinted that the company will continue adding to its Bitcoin holdings tomorrow. According to Odaily, market estimates show Strive’s recently raised funds are enough to buy more than 1,100 BTC, and a large Bitcoin purchase is expected tomorrow.

Ethereum Research has proposed that, in frame transactions and account abstraction scenarios, the key distinction for transaction admission rules should be whether verification logic depends on the order of transactions within a block, rather than the amount of state read. According to Odaily, the article divides transactions into three categories: single-writer state, shared state that can accept an older state root, and contested state that must read real-time values. It also says that only "exactly once" assertions, such as whether a nullifier has been used or whether a slot is still free, naturally require total-order coordination and cannot fully remove order dependence through proof-based admission alone.

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