Top Overnight News Iran will shift to a "fully offensive" military posture because efforts to negotiate a permanent end to the war with the U.S. have stalled, a senior Iranian official told Reuters on Monday, as Washington ruled out extending ‌a temporary ceasefire agreement. RTRS Yemen’s Iranian-allied Houthi rebels are escalating attacks along the country’s Red Sea coast, shutting down operations at a strategic seaport and pushing closer to the Bab al-Mandeb Strait, an important global shipping chokepoint. WSJ US investment-grade bond sales have set a third straight monthly record, continuing the market’s fastest pace of issuance as spending on the artificial-intelligence buildout fuels corporate borrowing. August’s high-grade debt supply reached $145.2 billion, topping 2020’s total of $136 billion for the month. BBG Chinese AI companies are building systems that perform almost as well as leading models without the most powerful hardware, challenging their US rivals. One measure of China’s long AI push is its dominance in 2023 patent applications. BBG China’s economy showed across-the-board weakness in July and growth likely slipped further below the government’s annual target, sparking a call from Premier Li Qiang on officials to ramp up supportive measures. BBG Apple has acknowledged for the first time that regulatory changes forcing it to loosen control of its App Store are weighing on its more than $100bn services business, a rare concession that antitrust action is beginning to dent one of the company’s most profitable divisions. FT Unemployment in the U.K. was unchanged in the three months through June, while wage growth edged up slightly, likely not moving the dial for Bank of England policymakers who are expected to leave interest rates on hold next month. WSJ Canada faces a new round of 50% U.S. tariffs this week that businesses said could cause job losses in some already struggling industries, while complicating broader negotiations over the future of North America's free trade agreement. RTRS Anthropic PBC is on track to generate annualized revenue of more than $65 billion based on its current performance, up more than sevenfold from its pace at the end of last year. BBG Long-term borrowing costs across major economies hit multi-decade highs on Tuesday as inflation concerns, deficit fears and surging AI bond issuance put pressure on government debt around the world. FT(zerohedge)