Morning NOISE

Avalanche-triggered floods leave hundreds missing along Nepal-Tibet border

An avalanche of ice and rock triggered flash floods in Nepal, killing at least eight people, destroying villages and infrastructure, and leaving hundreds missing, including 384 tourists, according to AP. The Guardian reported at least nine dead and said officials feared further casualties in Nepal and Tibet. Rescue efforts have been hampered by damaged roads and dangerous conditions, prompting calls for cross-border assistance and stronger early-warning systems.

Iran and Oman seek temporary shipping corridor through Strait of Hormuz

Iran and Oman are negotiating a framework for managing ship traffic through the Strait of Hormuz, which remains largely shut nearly six months into the war, the Associated Press reports. A joint statement outlined a temporary navigational corridor and said the countries would work to clear mines, while technical talks continue toward a permanent route. The Guardian emphasizes that alternative Gulf pipelines and shipping arrangements could reduce the strait’s strategic importance, as a tanker attack off Oman underscored the continuing risks.

Follow-up to Iran and Oman discuss joint Strait of Hormuz shipping corridor · 20260825

At least 14 newborns killed in Islamabad hospital fire

At least 14 newborn babies died when an air-conditioning unit caught fire on the third floor of the Pakistan Institute of Medical Sciences in Islamabad, according to the BBC. One baby was rescued, while emergency responders evacuated at least 19 other people. Prime Minister Shehbaz Sharif suspended a senior health official and ordered an immediate investigation, with a fact-finding committee due to report within 24 hours.

Cyberattack disrupts Boston Scientific operations, sending shares lower

Boston Scientific said in an SEC filing that a cyberattack is disrupting access to information systems and applications, including shipment services, and that the timeline for full restoration remains unknown. CNBC reported that shares fell about 3.5% in premarket trading, adding to losses after the company issued a weak profit forecast earlier this year.

Mortgage rates reach three-week high as housing demand weakens

The average 30-year fixed mortgage rate rose to 6.78% last week, its highest level in three weeks, according to CNBC citing the Mortgage Bankers Association. Total mortgage applications fell 1% from the prior week, while purchase applications declined 5% year over year and refinancing applications dropped 17%. A separate Mortgage News Daily survey indicated rates eased later in the week as bond yields fell.

SpaceX plans $100 billion Starbase launch facility on Louisiana coast

SpaceX plans to build a 125,000-acre Starbase launch facility in Louisiana with five launch complexes, each containing two launch pads, plus propellant production, power generation, vehicle processing and housing. Engadget reports that construction is slated to begin in 2027, with the first launch targeted for 2029, creating a major planned private investment in US space infrastructure.

Meta scaled back Zuckerberg’s plan to replace staff with AI

Reuters reported that Meta’s Project OT explored reducing some teams by up to 60% in two waves as the company pursued an AI-native workforce. After employees revolted and internal data showed limited productivity gains and rising technical problems, Zuckerberg canceled the planned second wave, though Meta proceeded with a 10% workforce reduction in May. Meta said the project focused on cost-cutting, restructuring and redeploying staff, and that it never intended to eliminate 60% of its overall workforce.

Runable raises $21 million to expand AI agents for business growth

Bengaluru-based Runable raised a $21 million Series A co-led by Susquehanna Venture Capital and Nexus Venture Partners, valuing the company at $65 million after investment. The startup is expanding its AI agent from building websites, apps, and presentations to managing advertising, social media, SEO, and other customer-acquisition tasks for small businesses. Runable says it has 1.7 million registered users, but currently operates with negative gross margins as it subsidizes AI usage.

Big Break reboot delayed after backlash over Good Good ad

Golf Channel postponed the premiere of its “Big Break x Good Good” reboot by one week to Sept. 1 after a sponsor requested that its branding be removed. The controversy centers on a deleted Good Good and Callaway ad depicting a man shoving a woman, which prompted apologies from both companies. ESPN reported that PGA Tour CEO Brian Rolapp called Good Good’s initial response disappointing and said the group’s related partnerships remain under review.