AP News Summary at 12:55 a.m. EDT | National News

• Market analysts suggest Scott Bessent’s interventions were ineffective, while Japan's inflation approaching the 2% target provides a positive signal for the Bank of Japan to hike rates. • In the Philippines, digital payment adoption is surging, with Nikkei reporting the nation is "racing towards a cashless future" as digital payments are projected to hit 64.7% by 2025.

• Stocks declined in early trading as Treasury yields rebounded, erasing gains from the previous day's rally. • Market pressure was further intensified by rising oil prices and the release of Walmart's latest financial results.

• China increased its exports of yttrium to the United States in July, providing critical relief to U.S. aerospace firms facing supply chain pressures. • This surge occurs despite persistent trade tensions and existing export controls imposed by the Chinese government on strategic minerals.

• BNP stalwart Mr. Alamgir won a local election on August 21, 2026, defeating Liberal Democratic Party chairman Colonel (retd) Oli Ahmed. • According to Election Returning Officer AMM Nasir Uddin, Mr. Alamgir secured 255 votes compared to 88 votes for his opponent.

• Walmart is utilizing a $2.9 billion tariff refund to lower prices and improve the customer experience to attract U.S. shoppers who are currently reducing their spending. • The company reported quarterly revenue of $187.9 billion, representing a 5.9% increase from the previous year, while U.S. comparable sales grew by 2.6%.

• Former President Donald Trump threatened "unprecedented" economic warfare against Iran during a recent radio interview. • In a surprising turn, Trump conducted the interview alongside Michael Cohen, his former lawyer and current political adversary.

• The US has signaled an increase in economic pressure on Iran and imposed new sanctions against Hezbollah amid stalled wartime diplomacy. • President Donald Trump has threatened "crushing economic warfare," though analysts note Iran has developed a "survival economy" to withstand long-term sanctions.

• The Office of the Chief Electoral Officer in Karnataka has identified over 20.35 lakh voters flagged for "logical discrepancies" in their enumeration forms. • In total, more than 43.80 lakh voters are set to receive official notices regarding these discrepancies following a Special Intensive Revision (SIR).

• The Supreme Court has initiated a probe into recent student protests, while state collectors have been granted new powers regarding citizenship processes. • On August 20, 2026, Union Home Minister Amit Shah criticized the Congress party, alleging that their decision to sing only the first two stanzas of Vande Mataram constitutes "appeasement politics."

• Thailand is currently facing a series of overlapping crises, including a deadly school shooting near Bangkok, severe flash flooding in Nan Province, and ongoing insurgency tensions in the south. • To counter these challenges and an economic slowdown, the government is pursuing modernization through AI initiatives, energy reforms, and the implementation of new tourism fees.

• The author argues that Thailand may be entering a second consecutive "lost decade" of economic stagnation and political uncertainty. • This follows a first lost decade from May 2014 to August 2023, which the author attributes to the illegitimate nine-year rule of coup leader Gen Prayut Chan-o-cha.