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Canadian negotiators went into last-minute talks in Washington Monday to head off a 50% tariff on about $20 billion of Canadian imports set to take effect Wednesday. Prime Minister Mark Carney called the talks "very delicate and intense" and said Canada was working "from a position of strength."

Trade Minister Dominic LeBlanc left US Trade Representative Jamieson Greer's office Monday saying "our job is not yet done." Trump has warned the "time to get tougher" comes if the two sides fail, and the tariffs would hit roughly 5% of all Canadian imports.

Trump threatened to bomb Oman in a Fox News phone interview if the US ally "gets in the way" of American talks with Iran, using an expletive on the record. Iran has largely blocked the Strait of Hormuz — which normally carries about a fifth of the world's oil and LNG — since February.

Iranian officials said they were close to finalizing a separate Oman-brokered deal to reopen the strait. Asked in the Oval Office if he would extend the expiring 60-day US-Iran memorandum, Trump told reporters "no."

Nvidia will provide up to $105 billion in financing for a new OpenAI data center in Pike County, Ohio, according to a Monday SEC filing. Initial compute capacity is 4.25 gigawatts, with an option for 3.75 more, phasing online through 2028.

SB Energy will build and operate the site on a 20-year lease to OpenAI, and CEO Sam Altman is an early SB Energy investor. Nvidia CEO Jensen Huang said the company is "securing long-lived infrastructure for NVIDIA compute so OpenAI can deploy the most productive AI factories."

German police raided a secret warehouse stacked with dinghies and life jackets, the first operation carried out under a new anti-smuggling law. Berlin's approach targets the logistics behind Channel crossings rather than the people making them, seizing equipment long before it reaches a beach.

A student smuggled a .45-caliber pistol into a Catholic junior high in Zamboanga City, fired at his teacher and missed, then fatally shot a student in another classroom. Mayor Khymer Adan Olaso told local radio the shooter later took his own life.

A private helicopter crashed on the Greek island of Sifnos on Monday just meters from a landing pad, killing British newlyweds Alexander Cromie and Marie Ebert and the Greek pilot. The couple was on their honeymoon.

A federal judge blocked the Trump administration from relocating FBI headquarters from the Hoover Building to the Ronald Reagan Building. The ruling reverses the administration's decision to scrap a long-planned Maryland site that FBI Director Kash Patel had opposed.

Pennsylvania Attorney General Dave Sunday charged 13 former or current Penn State students Monday over an alleged cocaine-trafficking ring tied to two fraternities. Details on the specific chapters and drug volumes were not released.

Lake Powell has dropped to its lowest level ever recorded, with Lake Mead not far behind, pulling both reservoirs to depths unseen since 1957. The plunge deepens the crisis facing the seven states that depend on the Colorado River for drinking water and agriculture.

The other tug-of-war pits Mideast worry against AI optimism, with Nvidia's renewed rally working to offset a Monday that cost the Dow 270 points. Investors are pricing two incompatible futures at once, and the VIX has somehow sunk to its lowest reading of 2026 while they do it.

Home Depot beat Q2 estimates with $4.92 adjusted EPS on $47.86 billion in revenue as comparable sales rose 1.7% versus 0.9% expected. CFO Richard McPhail told analysts customers are operating in "frozen housing market" conditions and "have the means to spend, they're just hesitant."

Eli Lilly's oral GLP-1 pill Foundayo is gaining ground on Novo Nordisk's Wegovy, with weekly prescriptions up 14% to about 38,900 versus Wegovy's 5% drop to 163,000 for the week ending Aug 7. Both Lilly (LLY) and Johnson & Johnson (JNJ) rose Monday on the data.

Researchers ran a calculation in about 15 minutes that leading classical simulation methods cannot practically compute, while also solving the thorny problem of verifying the quantum result. It's one of the more credible "quantum advantage" claims to date, because the answer can actually be checked.

Atmospheric scientist Perry Samson describes getting trapped in a tornado while studying supercells, and what the inside of one actually looks and sounds like. Samson survived on a split-second decision, and is emphatic that nobody should ever try to repeat the experience.

A perovskite-silicon design just recorded 32.22% certified efficiency, well past the practical ceiling single-junction silicon panels have been grinding against for years. Researchers used a passivating molecule to suppress surface defects and an oxide bilayer to squeeze out extra current.

Pete Crow-Armstrong launched a walk-off two-run homer off Hagen Smith in the 10th to lift the Cubs over the White Sox 7-5, his 30th of the year and his first career walk-off. Homer, paired with 31 stolen bases, cements back-to-back 30-30 seasons for the NL MVP contender.

Shohei Ohtani went 4-for-5 with two homers at Coors Field to power an 11-5 Dodgers win over the Rockies and end a stretch of 11 losses in 16 games. Blake Snell struck out five over six innings in his second start off the IL, and Max Muncy also homered.

Rookie center fielder Carson Benge threw out two runners at home plate — one on a 103.9 mph strike — as the Mets edged the Padres 2-1. Daniel Tartabull worked around traffic for a 1-2-3 ninth to nail down New York's fourth straight victory.

After his eight-shot Sunday in Memphis, Scottie Scheffler locked up the top FedEx Cup seed heading into this week's BMW Championship. Rory McIlroy and Cameron Young headline a 50-player field where the top 30 advance to the Tour Championship at East Lake.

A coroner found no signs of trauma in the death of Hayden Panettiere at 36, as tributes arrived from castmates across two decades of work. Panettiere played Claire Bennet on "Heroes" and earned two Golden Globe nominations as Juliette Barnes on "Nashville."

Rosie O'Donnell guest-hosted "Jimmy Kimmel Live" on Monday, using the monologue to explain she has spent two years in Ireland because of "Mango Mussolini." O'Donnell then addressed the president straight down the barrel — "Hi! I know you're watching!" — before turning serious.

Final voting for the 78th Primetime Emmys opened Monday and runs through August 26, with the ceremony set for September 14 on NBC. HBO Max's "The Pitt" leads all programs with 25 nominations, and "Hacks" is now the most-nominated comedy series in Emmy history with 24.

What it is: New York Fed data show unemployment for recent college graduates is now running higher than the rate for all workers. Recent grads say AI is eating entry-level roles before they can get a foot in the door.

The detail: Irene Chang, 21, graduated from Georgia Tech in May with a degree in industrial and systems engineering. Chang has submitted around 450 applications since last September and landed about 19 interviews — no offers yet. Jacqueline Kline, 25, holds a fresh Florida State master's in communications and has applied to more than 500 entry-level roles since December. "It's hard knowing that I'm doing everything I can to be successful and feeling like that's not enough," Kline told NPR. Both suspect AI is behind their empty inboxes.

Why it matters: Entry-level roles like data analysts, junior communicators, and staff writers sit squarely in AI's early automation zone. If new grads can't clear the first rung, the ripple hits student loans, delayed household formation, and lifetime earnings. Federal Reserve economists and workforce researchers are watching whether the wedge widens as the cycle turns.

What to watch: Economists are cautious about pinning the trend on AI alone — the labor market has slowed broadly and headcount discipline at big tech is chilling recruiting. Watch September's employment report for the youngest cohort, watch enterprise-license announcements from Anthropic and OpenAI (buyers of AI now, hirers less so), and watch whether universities begin rewriting curricula and career-services playbooks for a hiring environment where the traditional ladder isn't holding.

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—The Five Minute Daily Team