- Alphabet's Class A shares (GOOGL) will join the Dow, replacing Verizon (VZ) effective Monday.
- The addition boosts the Dow's exposure to AI, cloud infrastructure and advertising, expanding mega‑cap tech representation.
- Alphabet shares rose about 1% after the announcement; Verizon's weight in the price‑weighted index was roughly 0.5%.
- Alphabet is up more than 10% in 2026, on track for its fourth straight winning year.
June 23, 2026
▲ 53▼ 62◆ 27– 174
Markets 40
- MSCI pushed back its assessment of Indonesia's emerging status to November 2024
- Potential reclassification to frontier status if transparency improvements are insufficient
- Investability concerns focus on opaque shareholding structures and suspected coordinated trading
- Regulators OJK, IDX and KSEI have announced reforms, but MSCI says more progress is needed
- Indonesia's stocks have been frozen in MSCI indexes since January, limiting foreign inflows
- Taiwan up 66% in 2026, semiconductors up 72% year-to-date
- Emerging markets ETF (EEM) breaks out from $55-$60 resistance
- Micron expected to report 279% growth in sales and 996% growth in net income
- GBP/USD fell 0.40% to 1.3195, down from intraday high of 1.3257
- US Manufacturing PMI rose to 55.7 and Services PMI to 51.3, both above forecasts
- DXY hit a new yearly high of 101.34, up 0.34%
- BoE MPC member Alan Taylor said rates should stay unchanged, with the Bank Rate 75 bps above his neutral estimate
- Fed funds futures show >85% probability of a 0.25% rate hike by September
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- USD/CAD advanced to around 1.4190, its highest level since April 7
- CME FedWatch shows an 86% probability of at least one Fed rate hike this year
- Canada's CPI rose to 3.2% YoY in May, above the 3% forecast
- Crude oil prices fell after a temporary waiver allowing Iranian oil exports
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- S&P 500 and Nasdaq Composite ended in the red, reflecting broad market weakness
- Semiconductor sector led declines amid worries that AI spending may slow
- Investor sentiment turned cautious as AI‑related capital expenditure outlook dimmed
- SpaceX sold senior unsecured notes totaling $25 billion, up from an initial $20 billion target
- Orders for the bond sale reached roughly $90 billion, indicating strong investor demand
- Notes are priced in five tranches with yields ranging from 5.35% (2031) to 6.65% (2056)
- Proceeds will be used to repay a $20 billion bridge loan, cover fees, and fund general corporate purposes
- S&P 500 dropped 1.4% amid a tech sell‑off that raised doubts about AI‑driven valuations
- The slide ended a streak of 11 weekly gains for the S&P in the last 12 weeks
- Broad market volatility resurfaced after nearly three months of risk‑asset rally
- US Dollar Index rose to about 101.40, its highest level in 13 months.
- US Manufacturing PMI jumped to 55.7 in June, the strongest reading since May 2022.
- Euro slipped 0.4% to 1.1380 as Eurozone Composite PMI stayed below 50 at 49.5.
- GBP/USD hovered near 1.3200 after UK Services PMI fell to 48.7, the sharpest decline since Jan 2023.
- AUD/USD fell to a two‑month low around 0.6910 ahead of Australia’s CPI release.
- DXY climbs to ~100.40, up 0.4% on the day, breaking above the 100.00 psychological level
- Markets price a 70% probability of a September Fed rate hike ahead of the PCE inflation report
- US services PMI rises to 51.3 and manufacturing PMI to 55.7, both above expectations
- Technicals show bullish bias: RSI at 73.4 (overbought) and ADX near 36, with resistance at 102.00
- EUR/USD trades around 1.1380, down 0.40% on the day, breaking the 1.1400 support level.
- U.S. Dollar Index (DXY) hovers near 101.35, its highest level since May 2025.
- CME FedWatch Tool shows a 70% probability of a Fed rate hike in September.
- U.S. services PMI rises to 51.3 and manufacturing PMI to 55.7, reinforcing a higher‑for‑longer rate outlook.
- China's crackdown on cross-border securities trading may strengthen Hong Kong's financial role
- Beijing's moves could reinforce Hong Kong's status as an offshore yuan hub
- Economists see Hong Kong's importance increasing due to China's new policies
- S&P 500 YTD return at 23% matches its annualized gain since Oct 2022 uptrend began
- May 14 marked S&P 500's first close above 7500, coinciding with Cerebras IPO frenzy and AI stock rotations
- Philadelphia Semiconductor ETF up 20% since May 14 while Magnificent 7 down 10%, highlighting hardware vs. software divergence
- Fed Chair Warsh signals less transparency, aiming to reduce artificial market stability and funding discipline concerns
- Oil prices fell 25% from wartime highs to mid-$70s, defying forecasts of $150+ crude amid Iran conflict
- Dollar index climbs as U.S.-Iran negotiations make modest progress
- Crude prices retreat, with Brent slipping modestly
- Stronger dollar adds pressure to commodity markets
- S&P 500 and Nasdaq 100 futures slipped less than 0.1% ahead of Micron's earnings release
- Dow Jones futures fell about 45 points, roughly 0.1%
- Tech sector led losses with the S&P 500 down 1.44% and Nasdaq down 2.21% on Tuesday
- Micron and SanDisk rose ~1% in after‑hours after a 13% drop in the regular session; DRAM ETF gained 2% after a 14% loss
- Semiconductor ETF SMH fell 7%; Intel down 6% and Qualcomm down 8%, while defensive names Walmart +2% and IBM +5%
- AUD/USD slid to 0.6915, a drop of more than 1.2% from the day's high of 0.7005.
- US Dollar Index rose 0.39% to 101.38 as markets price in a projected 34‑basis‑point Fed tightening in 2026.
- RBA kept rates unchanged at 4.35% after a 75‑basis‑point hike earlier in the year; upcoming Australian CPI is forecast at 4.4% YoY.
- Tech‑heavy equity indices fell, with the Nasdaq down over 3% and Korea's KOSPI tech index down more than 10%.
- Kospi dropped about 10% on Tuesday, its steepest decline since March and sixth worst on record.
- The fall follows a 62% Q2 gain and nearly 95% rise in 2026, indicating profit‑taking.
- Morgan Stanley views the dip as temporary, keeping a 9,000 target (≈10% above Tuesday's close).
- Memory‑chip stocks like SK Hynix and Samsung Electronics led the sell‑off amid a global chip rout.
- Analyst warns the second half of 2026 may be more volatile but does not expect a bear market.
- CFTC sues Kentucky, the ninth state sued over prediction market jurisdiction.
- Kentucky's suit targeted Kalshi and Polymarket, alleging illegal gambling operations.
- Kentucky becomes the first red-state with a Republican AG to face CFTC action; 20 states are involved in related litigation.
- CFTC argues prediction contracts are swaps under its exclusive jurisdiction, countering state claims they resemble sports betting.
- Meta is directing staff to build a prediction‑markets platform called “Arena” that will use a points‑based system rather than real money.
- DraftKings shares fell more than 2% after the news, closing down 2%.
- Flutter Entertainment (parent of FanDuel) dropped nearly 2% intraday, though it ended the day up about 0.4%.
- Robinhood’s stock also slipped following the report.
- CHF fell for a fifth straight day, down 0.15% to 0.8100 USD/CHF.
- SNB warned of possible intervention as franc appreciation pressures rise.
- Strong US manufacturing and services PMIs boost Dollar strength and Fed rate‑hike bets.
- EUR/CHF slipped below the 200‑day SMA at 0.9227, targeting support at 0.9200 and 0.9180.
- Technical outlook sees USD/CHF upside toward 0.8172 and potentially 0.8200.
- Bank of Korea expected to raise policy rate by 25 basis points to 2.75% at its July 16 meeting
- KRW is the second‑weakest Asian currency, down 6.4% versus the USD YTD, versus a regional average decline of -2.9%
- USD/KRW rose 0.4% to 1,537, driven by a stronger dollar
- AUD/USD slipped to around 0.6920, its lowest level in three months.
- Australia's May CPI is expected at 4.2% YoY, with trim‑mean inflation at 3.4% YoY.
- US ADP payrolls rose 30.75k, bolstering the USD and pressuring the AUD.
- Technicals show AUD/USD below the 20‑period SMA (0.6989) and 100‑period SMA (0.7061), RSI near 20.
- DJIA edged up, staying above 51,500 while Nasdaq and S&P 500 fell amid a global memory-chip rout
- Memory-chip stocks fell up to ~10% in South Korea, pulling technology shares lower across Europe and the US
- Flash PMI showed manufacturing at 55.7, services at 51.3 and composite at 52.2, reinforcing a hawkish Fed stance
- Core PCE is forecast to rise to 3.4% YoY (headline to 4% YoY) on Thursday, a key test for equity outlook
- Technical: 52,000 resistance and 51,500 support; a break above 52,000 would signal bullish momentum
- Yen up 0.1% against the dollar, outpacing all G10 currencies
- USD/JPY faces technical resistance near 162 and near‑term support around 160
- Japan's preliminary services PMI entered expansion; manufacturing PMI rose to mid‑50s
- Yield spread stabilization points to exhaustion in the USD/JPY advance
- Semiconductor index down almost 7% prompting demand for inverse exposure
- Options volume on SOXS over three times its daily average, with calls outpacing puts >6:1
- SOXS trades at just over $4 per share; 260,000 options traded versus 172,000 in SMH
- Largest trade: sale of 300 in‑the‑money puts (13‑strike) for $327,000
- EUR/GBP trades near 0.8624 after a low of 0.8615, its lowest since March 20
- UK composite PMI slipped to 49.4 (from 49.7) and services PMI to 48.7, indicating contraction
- Eurozone composite PMI rose to 49.5 (from 48.5) and services PMI to 48.9, showing resilience
- BoE policymaker noted the Bank Rate is 75 bps above neutral, hinting at possible cuts; ECB warned inflation will stay above target into 2027
- UK political uncertainty after Starmer's resignation and Burnham's candidacy adds volatility to the pound
- USD/JPY holds near 161.52, staying above the 20‑period SMA (161.44) and 100‑period SMA (160.40)
- US S&P Global PMI rose to 55.7 versus 54.8 forecast; ADP payrolls increased 30.75K, supporting the dollar but employment softness limits impact
- US granted Iran a 60‑day oil sanctions waiver, keeping geopolitical risk in focus
- Immediate resistance for USD/JPY at 161.74; support levels at 161.44, 161.42, 161.35 and 161.27
- GBP down 0.3% versus USD, holding near 1.31 support level
- Preliminary PMI shows manufacturing at 53.1 and services at 48.7, both modestly below expectations
- Scotiabank projects GBP/USD range of 1.3180‑1.3280 with support just above 1.30
- Indonesia obtained a multibillion-dollar funding commitment from China for its first yuan-denominated sovereign bond.
- Finance Minister Purbaya Yudhi Sadewa returned from Beijing with political support to attract Chinese investors.
- Investor concerns remain over Indonesia's shifting rules and the impact on its budget outlook.
- The panda bond aims to tap the Chinese market, marking Indonesia's inaugural yuan issuance.
- Analysts flag energy equities as a promising short‑term play
- Technology shares are under pressure, prompting sector rotation
- Investors may shift capital from tech to energy amid market turbulence
- Urea and other fertilizer prices fell sharply after peaking in late April.
- Weak demand and recent Chinese export approvals are identified as key drivers.
- Industry insiders warn the market may stay turbulent for several months.
- No industrial action expected until a further bargaining meeting on July 7.
- Unions are pushing for a larger share of BHP's profits from iron ore operations.
- Any disruption could halt iron ore shipments to China, Japan and South Korea.
- Share buybacks by listed companies Jan‑May 2024 reached 16.2 trillion yen (~$100 bn)
- Year‑on‑year increase of 34% compared with the same period last year
- Record level for the period, nearing the total expected for the full year
- Growth driven by unwinding cross‑shareholdings and capital‑efficiency push, led by Sony and Hitachi
- Chinese TV and air‑conditioner makers have expanded market share across Southeast Asia over the past five years
- Competitive pricing plus 24/7 support and innovative design are attracting younger consumers
- Growth is eroding market share of Japanese and South Korean appliance brands in the region
- Yen rallied sharply after media reported finance minister Katayama and Treasury secretary Bessent held an online discussion.
- The currency moved closer to its 40‑year low against the dollar, a level not seen since the early 1980s.
- FX markets priced the talks as supportive for the yen, lifting it against the dollar.
Macro/Economy 46
- U.S. Energy Department to provide $17.5 billion in loans for ten AP1000 nuclear reactors
- Funding aims to cut construction costs and accelerate deployment by up to three years
- Loans will be channeled through five SPVs; each project requires ~ $1 billion equity from Westinghouse and partners
- Westinghouse’s parent Cameco shares rose >1% on the announcement
- Annual CPI forecast at 4.4% for May, up from 4.2% in April
- Monthly CPI expected to fall 0.3% after a 0.4% rise previously
- Trimmed Mean CPI projected at 3.5% YoY, slightly above 3.4% in April
- AUD/USD trading below 0.7000, with support at 0.6855 and resistance near 0.7085
- RBA cash rate held at 4.35% as it pauses after three consecutive hikes
- Brent crude price expected to average $85 per barrel in 2026, potentially falling to $80 in H2
- Domestic diesel price projected to average 35 baht per litre this year, down from 50.54 baht in April
- EIC slashes average headline inflation to 2.6% for 2026, down from 3.6%
- Super El Niño could intensify drought and heat, pressuring crop yields worldwide
- War‑related disruptions to energy and fertilizer markets are tightening supply
- Combined weather and geopolitical shocks may lift global food price inflation sharply
- China's overcapacity not solely responsible for trade imbalances
- Global economies struggle to adapt to shifting economic landscape
- US and other countries face challenges in adjusting economic structures
- ECB's Vujčić sees euro area growth at 1.1% in 2024, down from 1.5% in 2023
- Inflation to remain above 2% in 2024, driven by energy prices
- Monetary policy to remain accommodative, with interest rates on hold
- Interim trade pact between India and US in final stage after February framework
- India seeks tariff advantage; US imposes 10% blanket tariff until July 24 and 10‑12.5% on selected products
- US officials say India pledged $500 bn of purchases, about nine times FY26 run‑rate
- US Trade Representative Jamieson Greer to visit India on June 23‑24 to close discussions
- Ukraine plans a joint reconstruction fund with Japan valued at tens of millions of dollars
- Fund will involve Japanese firms such as Hitachi and Toshiba for equipment procurement
- Goal is to revive Ukraine's industrial sector and support post‑war recovery
- Economic Minister Oleksii Sobolev says discussions on terms will begin soon
- May services PPI increased, signaling continued price pressure in the sector
- Month‑over‑month change was modest, while year‑over‑year growth remained stable
- The data adds to inflationary concerns ahead of upcoming monetary policy meetings
- House approved the 21st Century ROAD to Housing Act by a 358-32 vote
- Senate previously passed the bill 85-5, securing bipartisan support
- Bill caps institutional investors at 350 single‑family homes and reduces regulations to boost construction
- President Trump is slated to sign the legislation on Wednesday
- $83.5 trillion expected to shift from baby boomers to heirs over the next 20 years, per UBS.
- Billionaire families alone will pass about $6.9 trillion by 2040.
- 53% of millennial investors seek private‑asset exposure; 62% discuss crypto with advisers, and 44% plan to increase crypto holdings.
- 78% of Asia‑Pacific millennials want high‑risk opportunities versus 38% of boomers.
- Bessent argues President Trump is channeling Alexander Hamilton's focus on national self‑sufficiency in economic policy
- He highlights a push for stronger domestic supply chains and industrial capacity as a core of U.S. statecraft
- The commentary suggests future U.S. policy may lean toward protectionist measures and strategic investment in key sectors
- Marine scientist predicts a "Super El Niño" could drive 2026 to become the hottest year on record.
- Europe already seeing heatwaves with temperatures hitting 40 °C and nearly 20 deaths reported in France.
- Thailand's industrial zones are preparing for potential flooding, affecting over 103,000 businesses with combined capital above 2.19 trillion baht.
- Commerce Secretary Howard Lutnick told executives the department is reviewing Chinese state‑subsidized robotics imports
- Lutnick warned that robotic arms from China could threaten US manufacturers and hinted at possible policy measures
- No decision has been made yet; the review is still underway
- Monsoon rainfall so far 43% below average, forecast to stay weak through week ending July 2.
- Seasonal rains, which supply ~70% of India's annual precipitation, arrived three days late in Kerala.
- Weak monsoon threatens crops in the $4 trillion economy, raising concerns over food prices and growth.
- El Nino is expected to produce the driest monsoon in 11 years, intensifying climate‑related risks.
- June factory job cuts were the most since 2009, excluding the 2020 pandemic surge.
- S&P flash manufacturing PMI rose to 55.7 in June, above the 54.8 consensus estimate.
- Manufacturing employment is up 23,000 year‑to‑date in 2026, according to the BLS.
- US economic growth slowed to a 1.6% annualized rate in Q1 2026 and 0.5% in Q4 2025.
- OASI trust fund projected to run out in Q4 2032, leaving only 78% of scheduled benefits
- Cassidy proposes a $1.5 trillion investment fund over five years to cover 60‑65% of unfunded liability over 65‑70 years
- Merging retirement and disability trusts could extend solvency to Q3 2034 with 83% benefits payable
- Reform needs 60 Senate votes and faces criticism over added borrowing and market risk
- Euro area composite PMI slipped to 49.5 in June, staying below the 50 growth threshold.
- Input price index fell 5.2 points to 64.7, yet remains 5.7 points above February levels.
- Output price index dropped 1.7 points to 55.4, still 2.3 points higher than in February.
- Manufacturing price pressures stay high, with both input and output price PMIs well above 50.
- US S&P Global Composite PMI improved to 52.2 in June from 51.5 in May, indicating economic expansion
- Manufacturing output rose to 55.7 (vs. 55.1 prior) and Services PMI to 51.3 (vs. 50.7 prior), both beating expectations
- USD strength persists despite limited reaction to PMI data, amid hawkish Fed signals and Middle East geopolitical risks
- EUR/USD trades near 2026 low of 1.1411 with bearish bias as Fed policy uncertainty weighs
- AI‑driven semiconductor exports reach record highs
- Corporate profits in the chip sector hit all‑time highs
- South Korean equity indices rise on AI chip boom
- Policymaker warns windfall could fuel property speculation and widen inequality
- Authorities will add economic‑security benefits, such as supply stability, to M&A screening criteria
- Mergers with market share over 50% may be approved if they help stabilise domestic supply chains
- Key sectors highlighted include naphtha production and shipbuilding
- Existing condo prices in central Tokyo fell modestly in May, ending a recent upward streak.
- Higher borrowing costs and slower price growth are curbing investment‑flipping activity.
- The slowdown is viewed as a sign of waning demand for Tokyo investment properties.
- Joint financing for Japanese corporates rose 18% to nearly $220bn in the last fiscal year.
- Syndicated loan volumes have grown 44% over the past decade, hitting a new high.
- Banks from Taiwan, China and South Korea are stepping in as domestic regional banks become more reluctant.
- Indonesia unveiled a 26.34 trillion rupiah (~$1.48 bn) stimulus for the second half of 2026
- The package provides 10 kg of rice to 33 million people and holiday transport discounts
- Policy aims to boost growth as the country faces a global energy crunch and a weakening rupiah
- Fiscal boost follows a sharp depreciation of the Indonesian currency in recent months
- Duty‑free small‑value imports jumped about 20% in 2025.
- Authorities aim to abolish the tax exemption for low‑value personal imports by 2028.
- The surge is raising concerns over market distortion from cheap foreign goods.
- Government target: raise household financial asset allocation to stocks, investment trusts and bonds from 23% to 40% by 2040.
- Policy push seeks to shift Japan's traditional savings culture toward greater market participation.
- Plans include relaxing financial regulations and expanding the NISA tax‑free investment scheme for retail investors.
- Goal is to bolster domestic capital markets and support long‑term economic growth.
- An April social‑media post claimed China's real‑estate boom relied on a Ponzi‑like investment model.
- The post was quickly removed, but copies circulated, sparking public debate on the sector’s trust deficit.
- Former developer Pan Shiyi urged a “restoration of trust” as developers grapple with a prolonged property slump.
- AI adoption and rising inflation are viewed as new growth drivers for Japan’s wealth‑management industry.
- LGT Private Banking’s Japan head says the end of deflation is boosting demand for tailored advice among ultra‑wealthy clients.
- The bank anticipates heightened interest in bespoke investment solutions as AI reshapes portfolio construction.
- Strong performances by Japan's men's team are lifting demand for official jerseys and match‑day beer.
- Economic impact of the tournament on Japanese consumption is estimated to reach a minimum of $180 million.
- Adidas' away jerseys have sold out, indicating heightened merchandise demand.
- Government prohibits anyone under 16 from using social media platforms.
- The rule threatens earnings of child influencers who monetize YouTube and Instagram.
- Families rely on these incomes amid a shortage of formal jobs for youths.
Central Banks 8
- Officials highlighted persistent inflation pressures, with CPI still above the 2% target
- Divergence in views on timing of the next policy rate move, some favoring a cut later this year
- Economic outlook sees modest growth, GDP forecast revised to 1.8% YoY
- No consensus reached, leaving markets awaiting the final decision
- BoE policymaker Alan Taylor states extended rate hold is appropriate despite Bank Rate 75bps above neutral estimate
- Admits UK enters economic shock with 'very weak' economy, raising downside growth risks and potential for quick rate cuts under scenario A
- Warns 'nothing is off the table' in worst-case inflation scenario, preserving hawkish backstop but overall bias leans dovish for GBP
- Global imbalances expanding as China's capital outflows persist, with U.S. as top destination
- BoC Governor Macklem highlights risks to financial stability from growing imbalances
- U.S. dollar's attractiveness and leveraged trading strategies may prolong imbalances and increase fragility
- European Parliament committee approves digital euro legal framework, targeting 2029 launch
- ECB aims to reduce reliance on U.S. payment giants and dollar-pegged stablecoins
- Offline digital euro to offer cash-like privacy; holding limits proposed to protect bank deposits
- Warsh took over the Atlanta Fed president search after it was paused under former Chair Jerome Powell
- Former Treasury official Michael Faulkender was cited as a potential candidate, but his status remains unclear
- Warsh announced five task forces, staffed by outside experts, to review rate‑setting, balance‑sheet policy and communications
- The Atlanta Fed seat has been vacant since February; the new president will join the FOMC voting rotation in 2027
- Warsh’s hawkish remarks at his first FOMC meeting pushed market expectations for higher interest rates
- S&P Australia Flash Composite PMI for June shows weaker new orders and moderating price pressures
- Output price inflation eased, lowering odds of an upside beat to the RBA's Q2 trimmed mean forecast (~1% q/q)
- TD Securities expects the RBA to hold the cash rate unchanged at 4.35% in its August meeting
- Slower domestic demand gives the RBA space to assess data before any policy shift
Energy/Oil 20
- US Treasury issues 60-day exemption for Iran to produce and sell crude oil in US dollars
- Estimated $8-9 billion windfall for Iran from unlocking 67 million barrels of stranded crude
- China expected to accelerate purchases aggressively, potentially shifting Iranian crude to a premium above Brent
- WTI fell more than 1% to around $73 per barrel, its lowest in nearly four months.
- US granted a 60‑day waiver for Iranian oil exports, with over 30 million barrels shipped in the past week.
- Analysts (ING, Rabobank) cut WTI forecasts, citing expected normalization of Strait of Hormuz flows.
- Market focus shifts to the weekly API crude inventory report for demand clues.
- Dozens of oil tankers have activated AIS and announced intent to transit the Strait of Hormuz
- The shift follows the US‑Iran memorandum of understanding on a peace deal, ending a dark‑mode period
- Analysts view the move as a tentative reopening of the chokepoint, easing crude supply‑chain constraints
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- Russia considers fuel imports to mitigate supply disruptions
- Ukrainian strikes on oil refineries cause petrol and diesel shortages
- Russia may offer subsidies to cap fuel prices
- API estimates a 765,000‑barrel draw in U.S. crude stocks for the week ending June 19
- The prior week saw an 8.33 million‑barrel decline, the largest weekly drop in recent months
- Commercial crude inventories (excluding the SPR) have shed 53 million barrels over the past ten weeks
- Year‑to‑date U.S. crude inventories are down 2.1 million barrels, with the SPR absorbing most of the draw
- More than 11,000 seafarers will exit the Persian Gulf via the Strait of Hormuz under a coordinated IMO plan.
- Ship transits rose to 93 vessels (June 19‑21) from 32 (June 12‑14), still well below the pre‑war level of over 100 daily.
- Iran and the United States signed an MOU to reopen Hormuz, establishing two temporary maritime corridors north and south of the TSS.
- Approximately 20% of global oil supplies normally pass through the strait, making the evacuation critical for energy market stability.
- Brent oil price drops to $76.5, its lowest level since early March
- US sanctions exemptions for Iran valid until August 21
- Ship traffic through Strait of Hormuz remains far below pre-blockade levels
- Interior Dept will revise BLM lease and waste‑prevention rules to lower regulatory burden on federal‑land drilling
- Cleanup cost for an abandoned well will drop from $500,000 per well to a reduced amount
- Policy aims to spur expansion of oil and gas drilling on U.S. federal lands
- Pemex and Petrobras signed a memorandum of understanding this week to jointly pursue oil and gas projects.
- The agreement spans exploration, production, refining, natural gas and petrochemicals, with deepwater Gulf of Mexico exploration as the priority.
- Both state‑owned firms aim to boost output and reduce debt by leveraging Petrobras’ deepwater expertise.
- Tanker hire rates in the Gulf rose from about $106,000 to over $190,000 per day in a week
- The increase represents roughly an 80% jump, almost doubling the previous rate
- Middle‑Eastern producers are scrambling to move crude stranded after the Hormuz disruption
- Shipping firms are seeing a windfall as demand for VLCCs spikes
- Italgas plans €13 bn ($14.8 bn) investment through 2032 under its 2026‑2032 Strategic Plan
- Investment is 14.6% higher than the previous strategic plan
- €8.3 bn ($9.5 bn) earmarked for network digitisation, AI integration and repurposing
- Aim to build smarter, more flexible natural‑gas networks across Europe
- Crack spreads have widened to roughly $15‑$20 per barrel, up from about $10 a month earlier
- Three major oil refiners are adding capacity to capture the higher spread
- Analysts project refiners' earnings to improve as the spread stays above $12 per barrel
- TTF price forecast lowered to €47/MWh for Q3 2024, down from €60/MWh.
- Q4 2024 forecast cut to €50/MWh, previously €69/MWh.
- 2027 outlook reduced to €42/MWh.
- Winter 2024/25 supply remains tight, with €49‑50/MWh forecast and upside risk from geopolitical tensions.
- Strong Asian LNG demand and potential US‑Iran peace talks could push prices higher.
- Japan to invest up to £9bn in UK offshore wind sector, contrasting with domestic project withdrawals due to cost overruns
- Mitsubishi exited Akita/Chiba projects; Japanese firms cite unfavorable bidding rules and inflation exposure as key barriers
- Scotland’s tax incentives and port infrastructure attract Japanese developers, while Japan’s coastal towns seek green jobs for just transition
- Diesel supply tight, drivers report longer wait times at stations across Indonesia
- Rolling blackouts prompt government to temporarily halt certain coal exports
- Energy crisis most acute in Sumatra, affecting transport and power reliability
- JERA will spend about 500 billion yen (≈$3 billion) on the project
- The plant will be built in the United States to power a co‑located data centre
- The investment targets rising electricity demand from AI‑driven tech firms
- JERA is Japan's largest power producer, expanding its overseas infrastructure footprint
- Regulators announce inspection schedule for energy facilities
- Inspections could affect production and maintenance timelines
- Industry expects minimal disruption but monitoring costs may rise
- U.S. natural gas futures down in early trading
- Warmer weather outlook for early July supports prices
- Solid production and comfortable inventories limit gains
- Kanadevia, a Japanese environmental systems operator, will construct a biogas plant on Sicily.
- The project expands Kanadevia's global rollout of biogas technology for decarbonisation and energy security.
- Rising oil prices and the Ukraine conflict are driving European interest in self‑sufficient energy solutions.
Gold/Metals 14
- Gold fell about 5% this month, trading near $1,950 per ounce
- Fed's benchmark rate stays at 5.25%‑5.50% after latest hike, keeping real yields elevated
- Higher real yields and a strong dollar pressured gold, limiting its safe-haven demand
- Gold (XAU/USD) down 1.30% to $4,139, below recent high of $4,198
- US Dollar Index up 0.40% to 101.39, a year‑to‑date high
- 2‑year Treasury yield at 4.19%, 71 bps higher than early 2026
- Technical: gold below 200‑day SMA at $4,446; bears eye $4,100 and $4,000 support
- US data on Core PCE, GDP and jobless claims due Thursday
- Gold trades around $4,130, staying near the $4,100 level after briefly slipping lower.
- US Dollar Index (DXY) sits at 101.35, its highest level since May 2025.
- FedWatch Tool shows a 70% probability of a September rate hike as rate‑rise bets rise.
- US services PMI rose to 51.3 and manufacturing PMI to 55.7, both beating forecasts.
- Technical support for gold identified near $4,044, with next major floor around $3,887‑$3,857.
- China imposed export controls on antimony in 2024.
- Antimony price jumped from $1,400 to $38,000 per ton, a 2,600% increase.
- US-bound antimony shipments fell 97% after the ban.
- REalloys (NASDAQ: ALOY) holds an exclusive 80% off‑take, positioning it for future rare‑earth policies.
- Commodity Trading Advisors (CTAs) are large-scale sellers of copper, zinc, and nickel, shifting focus from supply risks to macro/demand-side weakness.
- Upcoming US tariff decisions are expected to provide temporary support for copper prices.
- Soft Chinese physical premiums and rising commercial inventories indicate a deteriorating demand profile for the red metal.
- Copper prices would need to fall to $13,000/t before further systematic selling is triggered.
- Gold price fell to near $4,100 in early Asian trading.
- CME FedWatch tool shows an 86.1% chance of a Fed rate hike by year‑end, up from 61% last week.
- Deutsche Bank cut its Q3 gold price target to $4,300, more than 20% lower than the previous forecast.
- Gold prices rise as investors seek protection against sovereign debt risks
- Higher government bond yields and fiscal concerns boost demand for gold
- Analysts expect gold to remain a safe‑haven asset amid ongoing debt stress
- Gold slipped about 5% over the past month, hitting its lowest level since early 2023
- The drop coincided with a 2% rise in the U.S. dollar index and a 15‑basis‑point increase in the 10‑year Treasury yield
- Inflation expectations eased, with the 1‑year breakeven rate falling to 2.5% from 2.8%
- Analysts say geopolitical tensions have limited impact on gold, which is now driven by monetary‑policy outlook
- Gold futures closed lower for a third consecutive day
- Silver futures also fell, extending a losing streak
- Risk-off sentiment weighed on precious metals
- Deutsche Bank reduces its 12‑month gold price forecast by 22%.
- The downgrade cites persistent inflation pressures and elevated interest rates.
- The cut adds to a growing number of institutions with bearish gold outlooks.
- California copper premium to LME widens to 20 cents/lb
- Global copper market faces supply chain disruptions
- Price gap may attract arbitrageurs, boosting global copper prices
Crypto 44
- Chainlink partners with 47 European and South Korean banks in Project Pangea to test euro- and KRW-pegged stablecoins
- Targets the $150 billion Europe‑South Korea trade corridor, aiming for near‑instant (T+0) settlement within 12 months
- Uses existing SWIFT and ISO 20022 systems to translate payments into atomic swaps on the Pangea L1 blockchain
- Stablecoin settlement could cut counter‑party and settlement risk, lowering liquidity costs for cross‑border FX trades
- Bitcoin slipped below $60,000 on June 5, trading around $62,600 (3.5% down in 24h)
- U.S. spot Bitcoin ETFs recorded six consecutive weeks of net outflows totaling about $6 billion
- Deutsche Bank now expects the Fed to raise rates twice in 2026, reducing monetary support for crypto
- AI investment projected to exceed $700 billion in 2026, diverting capital from Bitcoin
- Executive order now requires post‑quantum key‑establishment schemes by 31 Dec 2030
- Quantum‑safe digital signature schemes must be in place by 31 Dec 2031
- Deadline cut by roughly five years compared with the previous schedule
- Industry leaders such as Google and Cloudflare are already targeting 2029 for migration
- Ether dropped 5% on Tuesday, wiping out gains from the previous 12 days
- $170 million in long positions were liquidated as the price fell
- US-listed spot Ether ETFs have recorded $910 million net outflows over six weeks
- ETH perpetual futures funding rate turned negative, reaching -3% annualized
- Ethereum still holds 53% of DeFi TVL despite a 23% decline in total value locked over three months
- Bitcoin's realized price, around $53,457, has historically been breached before a cycle bottom was established.
- Large whale cohorts have a cost basis between $49,000 and $54,300, indicating potential support.
- Bitcoin may need to trade below its realized price to establish a definitive bear market bottom.
- Kalshi adds India to its list of 55 restricted jurisdictions
- Regulatory pressure on prediction markets grows with India, Spain, Indonesia, and others blocking access
- Kalshi and Polymarket face scrutiny over sports and political contracts
- Bitcoin fell 2.5% to $62,300 and Ether dropped over 4%
- Nasdaq 100 futures slid 2.5%, pulling crypto lower
- $717 million in liquidations hit altcoins, with some tokens down 5‑6%
- DXY rose to 101.15, its highest in over a year, adding pressure on risk assets
- Privacy coins DASH and XMR held up, each losing less than 1%
- BTC/USD fell to $61,860, its lowest since June 11, breaking below $62,000.
- Analysts flag a potential drop to $54,000 if Bitcoin closes under $64,000.
- South Korea's Composite index fell 10% and Japan's Nikkei 225 dropped nearly 4% amid tech sell‑off.
- Equity fund inflows in Korea and Taiwan surged to about +150% of AUM year‑to‑date, outpacing other markets.
- Options market shows little volatility, with implied volatility remaining flat ahead of quarter‑end expiry.
- Ethereum Foundation to cut 20% of workforce, eliminating 54 positions as part of restructuring
- Nine senior leaders departed over past six months, raising governance concerns amid competition
- ETHLabs initiative backed by major treasury firms and co-founder Joseph Lubin gains traction
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- Ripple obtained a preliminary Crypto Asset Service Provider (CASP) license from Luxembourg's CSSF under MiCA.
- The approval enables Ripple to offer its stablecoin payment system across the EU and expand into broader crypto services.
- MiCA allows a license granted in one EU member state to be used for crypto services throughout the bloc.
- Proposal to redirect 0‑10% of validator rewards could raise 50,000‑70,000 ETH (~$82‑115 million) annually.
- Former insiders warn a "slow‑burning" funding gap could emerge in 3‑9 months, with core development costs around $30 million per year.
- Ethereum Foundation plans to cut spending by ~40% and lower annual outlays to 5% of treasury after 2030.
- New nonprofit Ethlabs, backed by major investors, offers an off‑chain funding alternative.
- Critics say the tax could favor large validators and reduce staking participation.
- Prime Minister Keir Starmer resigns; Andy Burnham emerges as leading Labour PM candidate.
- Labour government imposed a moratorium on crypto donations to political campaigns in March 2024.
- Burnham, former Manchester mayor, signals optimism for blockchain but has offered no concrete policy details.
- Industry expects focus on stablecoin framework and pilot programs rather than reversing the donation ban.
- Roubini co‑authored a whitepaper for USAFi, a tokenized version of the Atlas America Fund ETF (USAF).
- The token, called “Technodollar,” will be issued under Dubai's VARA framework in the third quarter of 2026.
- Securitize will provide the tokenization infrastructure; the token is backed by U.S. Treasuries, real estate, gold and commodities.
- Tokenized asset market already exceeds $30 billion (excluding stablecoins) according to RWA data.
- Senator John Kennedy dismissed claims that crypto drives US affordability issues.
- Digital Chamber CEO Cody Carbone testified to the Senate Banking Committee on crypto benefits.
- The CLARITY Act is advancing but faces ethics and jurisdiction concerns; no Senate floor vote set.
- Sen. Jim Banks queried stablecoin costs versus traditional foreign remittances.
- 90-day average spent by holders acquired >5 years ago fell to 962 BTC, the lowest level since November 2024.
- Spending peaked at 3,860 BTC in May 2024, with earlier peaks of 3,200 BTC (Feb 2025) and 2,360 BTC (Sept 2025).
- Adjusted net unrealized profit/loss (aNUPL) slipped to -0.14, indicating holders are back in unrealized losses as BTC trades near $62,500.
- Halving-cycle analysis places the next potential Bitcoin bottom in early September 2026 (826 days after the July 2026 halving).
- Fortitude Mining will merge with HeartSciences, creating a Nasdaq‑listed company under ticker TUDE
- HeartSciences shares rose as much as 91% after the merger announcement
- Fortitude’s Zcash production hit 157,000 ZEC annually, valuing the token at about $413 and a $6.9 bn market cap
- CFTC Chair Michael Selig said perpetual contracts are not a natural fit for agriculture and other traditional commodity markets
- The agency recently approved Bitcoin perpetual futures on Kalshi and granted a no‑action stance for Coinbase
- CME sued the CFTC over the approvals, alleging violations of the Commodity Exchange Act; Senate vote on the CLARITY Act is upcoming
- Asset managers are speeding up tokenized ETF projects driven by fear of missing out.
- Regulatory, trading infrastructure and market‑structure issues remain unresolved.
- Issuers risk reputational damage as third parties tokenise existing ETFs that trade outside traditional markets.
- Tokenised funds promise 24/7 trading, faster settlement and broader investor access.
- CBOE is exploring a shift from continuous BTC and ETH futures to perpetual futures.
- CFTC approval enabled Kalshi's crypto perpetuals, generating over $8.5 billion in volume within weeks.
- DeFi platforms processed $22.5 billion in perpetual futures in the last 24 hours and $663 billion over 30 days.
- Bitcoin price stalled around $62,500, with support near $62,000
- Rolling crypto liquidations neared $1 billion over the past 24 hours
- Micron Technologies' Q3 earnings, due Wednesday, are cited as a volatility driver
- US S&P 500 and Nasdaq fell about 1% and 1.3% respectively amid crypto market stress
- Demand for tokenized SpaceX shares topped $1 billion, with Binance Wallet alone attracting >$500 m
- Platforms including Bybit and Bitget returned investor funds after failing to secure enough underlying SpaceX shares
- The failure highlights that tokenized equities cannot create shares that do not exist, limiting future crypto‑based stock offerings
- SEC postponed tokenized U.S. equity rollout (announced last week) due to compliance readiness concerns
- Investor Michael Burry warned the move could trigger systemic risk, citing past fraud losses of $600 million
- Current settlement lag of 1‑2 days highlights need for real‑time compliance; experts say 12‑24 months to develop cognitive systems
- Tokenization risk tied to inadequate regulatory intelligence and entity‑graph analysis, per industry veterans
- Four major unresolved issues remain before the Digital Asset Market Clarity Act can reach a Senate floor vote, including ethics restrictions on officials' crypto ties
- Crypto industry lobbyists are intensifying efforts with a fly-in event this week, aiming for a July 13 vote amid tight timeline before summer recess
- Key sticking points include DeFi liability protections, stablecoin yield disputes, and Commodity Futures Trading Commission appointments
- Franklin Templeton acquires 250 Digital, forming new crypto division with $1.7T AUM backing
- New unit led by crypto veterans Christopher Perkins and Seth Ginns, combining 250 Digital’s team and strategies
- Firm commits own capital to liquid crypto strategies, signaling institutional push into digital assets
- EU Parliament committee approves digital euro draft with 43–14 vote, targeting 2029 launch
- Privacy-by-design features and offline payments (no refunds if device lost) included in proposal
- Holding limits and no interest payments proposed; businesses limited to 24-hour digital euro holdings
- ECB to distribute via banks, payment providers, and regulated crypto firms; free basic services
- Former BIS GM Agustín Carstens now endorses stablecoins for financial inclusion and innovation, reversing earlier criticism
- Calls for global regulatory frameworks to enable stablecoin-fiat coexistence and prevent liquidity risks
- BIS maintains skepticism, citing stablecoin market size and structural limitations despite tokenization endorsement
- Deribit’s DVOL shows 30‑day implied volatility at 41.5%, down from February’s 90% peak
- $10 bn of Bitcoin options set to expire on June 26, with net long puts in‑the‑money
- Call spreads are attractive as call volatility is cheaper than put volatility
- Core PCE data release could boost volatility across assets, including Bitcoin
- THORChain halted trading on May 15 after a $10.7 million exploit of its GG20 signature scheme.
- Security upgrades and vault migration restored full network activity on June 12.
- Emergency patch applied May 20; major upgrade released June 9 with follow‑up fixes on June 11.
- Plans announced to add Zcash and Monero swaps within two weeks and support Bittensor (TAO) in about six weeks.
- Bitcoin network draws 138–175 terawatt-hours per year, depending on the model used
- That energy consumption translates to about 500 barrels of oil equivalent per Bitcoin, up to 600 barrels on higher estimates
- Around 164,000 new Bitcoins are minted annually, providing the per‑coin oil figure
- In 2017 the estimate was ~20 barrels of oil per Bitcoin, highlighting a sharp rise in energy intensity
- Tanya Denisova, ex-Robinhood Crypto COO, appointed head of operations at stablecoin issuer Agora
- AUSD stablecoin processed $20B in Q1 2026 transfers, up 355% YoY
- Agora expanding product offerings and regulatory licenses under Denisova's oversight
- Binance co‑founder Yi He warned that an individual using the alias “Zhu Pan” impersonated her in a scam attempt
- CoinUp publicly stated Zhu Pan is not part of its management or core operations
- CoinUp token (CPX) recently reached an all‑time high above $0.829, with price swings attributed to selling pressure
- The episode underscores reputational risk for crypto platforms amid rapid social‑media allegations
Geopolitics 61
- 86% of correspondents in China had interview requests declined or canceled
- 38% of correspondents reported being harassed or intimidated by Chinese colleagues
- Newsrooms soften language or drop stories to maintain access to China
- UN Commission of Inquiry released report on June 23, 2026 detailing effects of Gaza war and West Bank occupation on children
- Report records tens of thousands of Palestinian children surviving conflict, alongside those killed
- Findings call for accountability and highlight humanitarian concerns for children in the region
- Senate approved a bipartisan measure to curb the president's authority to initiate military action without congressional consent
- The legislation reflects growing concerns over executive war powers after recent overseas engagements
- U.S. technology stocks continued to fall, with the Nasdaq slipping roughly 1% as the sell‑off accelerates
- President Trump pushes back on Iran's claim that there are no plans to allow IAEA inspectors.
- Iran's foreign ministry maintains it will not permit nuclear inspectors to enter the country.
- Trump threatens to cancel further peace talks if Tehran blocks inspector access.
- Kim Jong-un announced plan to arm the navy with nuclear weapons.
- Plans unveiled to build 10,000‑ton warships, twice the size of recent 5,000‑ton vessels.
- Two 5,000‑ton warships launched last year, including the Choe Hyon commissioned in Nampo.
- The development heightens regional security concerns amid ongoing tensions.
- UN inquiry says Israel deliberately targeted Palestinian children, constituting genocide, crimes against humanity and war crimes
- Report documents over 20,000 child deaths in Gaza between Oct 2023 and Oct 2025
- Israel has formally rejected the UN's findings
- Allegations may increase diplomatic pressure and affect international aid discussions
- UN International Maritime Organization begins evacuating over 11,000 sailors trapped in the Strait of Hormuz.
- Shipping traffic rose to at least 36 commercial vessels on Monday, the highest level since the conflict began.
- France and Britain launched an international maritime mission, with Denmark joining to help reopen the waterway.
- A US‑Iran memorandum to end the US‑Israel war facilitates the evacuation and potential reopening of the strait.
- A US‑Iran mediated ceasefire has halted months of Israeli bombardment in southern Lebanon
- Thousands of displaced Lebanese are moving back to shattered towns in the south
- Humanitarian officials warn the truce remains fragile and could collapse
- China's National Energy Administration chief visited Kazakhstan to launch a joint nuclear energy working group.
- Kazakhstan approved a protocol for cooperation and selected China National Nuclear Corp to build two large‑scale reactors.
- China is eyeing a $2 billion investment in Uzbekistan's mining sector as part of a broader Central Asian outreach.
- The United States renamed the Indo-Pacific Command back to U.S. Pacific Command, signaling a lower priority for the Indian Ocean.
- Washington’s shift emphasizes a Pacific‑centric focus and treats India as secondary to China and Pakistan.
- India complied with U.S. pressure, cutting Russian oil purchases and accepting a 50% punitive tariff while pledging $500 bn of investment in the U.S.
- The move aligns with new U.S.-backed corridors (IMEC) that bypass Iran and a growing partnership with Pakistan.
- EU summit calls for dialogue with China while pushing new trade defense tools, leaving policy fragmented
- EU imposed 17-35.3% tariffs on Chinese EVs in Oct 2024; China retaliated with 4.9-34.9% duties on EU pork, dairy, brandy
- Germany and Spain’s shifting positions underscore EU’s lack of unified strategic approach to China
- Regulatory battles span EVs, ceramics, tech (Huawei), rare earths, and dual-use export controls
- US-Iran ceasefire could ease oil flow disruptions, but Strait of Hormuz congestion may persist for 6+ months
- China’s nuclear expansion to 1,000+ warheads by 2030 threatens Indo-Pacific stability, per ASPI fellow
- Iran’s leverage via Strait of Hormuz and drones reshapes global conflict dynamics, per former Australian diplomat
- EU leaders call for expanded trade defense toolbox targeting 'global macroeconomic imbalances'
- Proposed measures include sector-wide tariffs in chemicals and green tech industries
- EU moves align with US Section 301-style policies despite past criticism
- China plans reconstruction assistance for Iran after Tehran signs U.S. war‑ending agreement
- Aid aims to deepen economic ties and help secure the oil China imports from Iran
- Beijing must navigate diplomatic sensitivities with the United States and Gulf states
- Dozens of American companies added to China's export control and procurement blacklist
- Restrictions target sectors including drones and rare‑earth materials
- Move deepens trade tensions between the United States and China
- Alibaba filed a lawsuit challenging the DoD's designation of it as a 'Chinese military company'.
- The DoD's June list also includes Baidu, BYD and NIO as firms allegedly aiding Beijing's military.
- Alibaba argues its board is independent and its products are retail, logistics and enterprise IT, not defense.
- Former Marine reservist Benjamin Song received the maximum 100‑year sentence for opening fire during a July 4 protest.
- Seven co‑defendants were sentenced to terms between 30 and 70 years, including two 50‑year sentences.
- Prosecutors classified the shooting as domestic terrorism and tied the defendants to antifa, a group labeled a terrorist organization by former President Trump.
- The case marks the first sentencing of alleged antifa affiliates under the Trump‑era domestic terrorism designation, sparking concerns over protest and free‑speech rights.
- US authorities expand the China Initiative, targeting Chinese scientists and researchers in immigration cases.
- Legal experts say the new effort is more aggressive than the original Trump-era program.
- The move reflects heightened U.S. security concerns amid broader U.S.-China tensions.
- Senate joins House in passing a resolution to halt the Iran war
- Resolution rebukes former President Trump's stance on the conflict
- Bipartisan majorities signal growing congressional pressure for diplomacy
- Trump held a rally in Pennsylvania targeting Rust Belt voters ahead of the election
- Campaign emphasizes the impact of rising inflation on household budgets
- Iran-related foreign‑policy issues are highlighted as a national security concern
- Expanded U.S. sanctions on Cuba halted the supply of Cuban cobalt concentrate to Sherritt's Fort Saskatchewan plant.
- Sherritt International (TSX:S) began shutting down the refinery, stopping refined cobalt production.
- The closure removes Canada's sole primary cobalt refinery, potentially tightening global cobalt supply.
- US Ambassador Mike Huckabee and other Trump allies met Israeli officials to discuss concerns over the US-Iran interim nuclear agreement.
- They stressed that the US‑Israel strategic partnership remains strong despite recent White House criticism of Israel.
- The outreach aims to calm Israeli worries about possible shifts in US policy toward Iran.
- Bill Gates testified before the House Oversight Committee on June 10, expressing regret over meetings with Jeffrey Epstein.
- Gates said the contacts were aimed at securing financial support for the Gates Foundation and that he should never have met Epstein.
- The panel also released testimony from Epstein’s former assistant Lesley Groff, who called Epstein a "master manipulator" and said she never saw illegal conduct.
- Treasury sanctions five Cuban entities and one individual, including state-owned miner GeoMinera.
- The action seeks to curb Chinese-backed mining projects and diversify critical mineral supply chains.
- U.S. persons are prohibited from dealing with the targeted firms and any U.S.-held assets are frozen.
- The move aligns with broader U.S. efforts to limit China’s influence in Caribbean mining.
- Kalshi traders assign a 54% probability that Valdez and Lander win while Chevalier loses
- Lander is given near‑certain odds to secure the Democratic nomination in NY‑10
- Valdez has roughly an 80% chance to win the Democratic nomination in NY‑7
- Incumbent Espaillat is favored with about a 66% chance to defeat Chevalier in NY‑13
- Micah Lasher is assigned a 74% probability to win the Democratic nomination in NY‑12
- Rubio arrived in Abu Dhabi to begin a Gulf visit focused on Iran negotiations
- Objective is to advance a US-Iran peace deal with regional partners
- He noted recent talks laid groundwork but more consultations are required
- Keiko Fujimori leads with 50.11% vs Sanchez's 49.89% as of 99.7% of votes counted
- Margin between candidates is roughly 40,687 votes
- Sanchez seeks nullification of results from 119 overseas consular offices over procedural change
- Over 2,506 polling tables abroad represent about 1.2 million voters (≈4.4% of the electorate)
- Sanchez announced protests and will not recognise a Fujimori presidency
- Iranian President Masoud Pezeshkian arrived in Pakistan for diplomatic talks
- Negotiations aim to secure a permanent end to the US-Israeli war on Iran
- Pakistani Prime Minister Shehbaz Sharif says Iran's ballistic missile program was not discussed
- Mediators continue efforts to advance a new peace deal
- Senate voted 50-48 to pass a resolution pausing further US military action against Iran
- Resolution marks the first war powers bill to pass both the House and Senate
- Four Republican senators broke ranks; only one Democrat voted with Republicans
- President Trump is expected to veto the measure, rendering it largely symbolic
- Poll shows only 24% of Americans view the Iran war as worth its cost
- Iran allocated a plot at Shahid Rajaee Port for a Kazakh logistics terminal; Kazakhstan offered berths at Aktau and Kuryk
- Both countries reaffirmed a joint target of 20 million tonnes per year on the International North‑South Transport Corridor (INSTC)
- Bilateral trade recovered to $430.2 million in 2025, up 26.4% from 2024, after falling to $165.2 million in 2023
- The missing 162‑km Rasht‑Astara rail link, agreed in Feb 2026, remains critical for the western INSTC branch
- Kazakhstan’s east‑west rail network and Caspian ports position it as the primary rail gateway between China and Iran
- Israeli forces, including two Merkava tanks, were observed in Syria's Quneitra region.
- The incursion breaches the 1974 Israel‑Syria Disengagement Agreement.
- Tensions risk rising on the Israel‑Syria front amid broader regional instability.
- 6-3 ruling lets ExxonMobil sue Cuban state-owned company CIMEX under Helms‑Burton Act.
- Potential compensation for Exxon estimated at about $3 billion, including interest and damages.
- Decision gives US administration extra leverage over Cuba amid existing oil embargo.
- Follows a similar Supreme Court ruling last month, reinforcing legal pathway for US owners of confiscated Cuban property.
- Russia says the US has failed to honor "understandings" from the August Trump‑Putin summit
- Three senior Russian officials have voiced the complaint within a three‑day span
- Ukraine's drone attacks on Russian territory have intensified, including two strikes on Moscow oil facilities last week
- Keir Starmer announced his resignation after less than two years in office
- He becomes the sixth UK prime minister to leave office since 2016
- Resignation comes one day before the fifth anniversary of the Brexit vote, highlighting Brexit's role in leadership instability
- Labour Party will launch a leadership contest to choose Starmer's successor
- PPP secured 9 of 21 seats in Gilgit‑Baltistan poll announced June 19.
- PTI alleges rigging by the military; Imran Khan remains jailed since August 2023.
- Army chief Asim Munir, now chief of defense forces, leads crackdown and deepens US ties.
- PTI leaders are open to a compromise on the government’s "charter of democracy" after recent talks.
- 2014‑2016 oil price war prompted Saudi Arabia to pivot from the US to China and Russia.
- During Donald Trump's second term (2017‑2021), the US regained a core partnership with Riyadh.
- After the 2023 Operation Epic Fury against Iran, Saudi Arabia appears to favor a non‑US superpower ally.
- The realignment could reshape geopolitical dynamics in the Middle East.
- Julie Eadeh, US Consul General in Hong Kong, expressed optimism about US‑China ties.
- She held her first media briefing since taking the post in August.
- The briefing coincided with the US 250th Independence Day celebration in Hong Kong.
- Quad foreign ministers met in New Delhi, announcing port projects in Fiji and new critical‑minerals initiatives
- Quad pledged over $50 bn in Indo‑Pacific investments by 2027; Indian Ocean port spending is ~$3 bn versus China's $4 bn
- No leaders‑level summit since September 2024, but monthly working‑group engagements persisted, including a coast‑guard effort in June 2025
- Second Quad Track‑1.5 Leadership Dialogue held in Sydney in February 2026, centering on maritime security and data sharing
- Participants urged prioritising maritime security as a collective deterrence tool and expanding the Indo‑Pacific logistics network
- Labour leader Keir Starmer announced his resignation after losing support within the party.
- Andy Burnham is seen as the frontrunner to replace Starmer as the UK's seventh prime minister in ten years.
- Analysts expect Burnham to continue Starmer's pragmatic stance toward China, avoiding major policy shifts.
- Domestic economic challenges are projected to be Burnham's immediate priority over foreign policy.
- HK$64m laundered, including 4m yuan bribe
- Son of former mainland Chinese official
- Remanded in custody pending sentence
- China has constructed the tallest environmental observation tower in the South China Sea, according to its meteorological administration.
- The tower stands at 100 meters (330 feet) tall, almost three times higher than previous structures in the region.
- It is engineered to withstand extreme weather conditions, including super typhoons with wind speeds over 200km/h (125mph), heavy waves, high humidity, and salinity.
- The structure is equipped with sensors for continuous, real-time data collection on environmental factors like wind speeds.
- Cyberattacks disrupted card-based banking services at Bank Melli, Bank Saderat, and Bank Tejarat.
- ATM services, point-of-sale terminals, and mobile applications linked to card systems were affected.
- Iranian state media cited the central bank as saying the issues should be resolved by Wednesday morning.
- Peter Murrell sentenced to 5+ years in prison for embezzling £400,000
- Funds used to buy cars, motorhome, and luxury goods
- Ex-SNP leader Nicola Sturgeon cleared of wrongdoing in related probe
- Liaoning completed over 40 days of far‑sea combat training and returned to Qingdao.
- The carrier practiced aerial refueling using land‑based tanker aircraft.
- It coordinated operations with an amphibious assault ship for the first time.
- Exercises aim to boost China’s blue‑water combat capability.
- Conference of Rulers meeting set for June 23‑25 was cancelled at the last minute
- Postponement escalates a throne dispute in Negeri Sembilan, exposing coalition tensions
- The crisis adds electoral risk for Prime Minister Anwar Ibrahim ahead of snap elections
- China’s export controls on critical minerals limit EU access to rare‑earth supplies needed for defense projects.
- EU leaders urge faster diversification, targeting new partnerships with Japan, Malaysia and India.
- German firm Rheinmetall is converting automotive plants to produce loitering‑munition drones, highlighting supply‑chain shifts.
- A Lowy poll finds a clear majority of Australians now view China as an economic partner rather than a security threat.
- Only 21% of respondents say they trust former US President Trump to do the right thing, a level equal to confidence in Chinese President Xi Jinping.
- The perception shift follows strained ties during the COVID‑19 pandemic, indicating improving bilateral sentiment.
- Taiwan launches a five-day combat-readiness exercise this week.
- The drill emphasizes rapid deployment and realistic, unscripted scenarios.
- It reflects growing concern over Chinese maneuvers near Taiwan.
- Nvidia, Apple and Micron among the largest foreign exhibitors at the China International Supply Chain Expo.
- Beijing added additional U.S. firms to its export control list on the expo opening day.
- The event highlights the complex mix of cooperation and tension in Sino‑American technology supply chains.
- Japan and France sign a joint statement to boost collaboration on critical minerals
- Both governments commit to a joint investment in a rare‑earth recycling project
- The partnership aims to diversify supply chains and reduce dependence on China
- Cooperation is part of a broader push for economic security amid rising nationalism
- Defence Minister Adul Boonthamcharoen said Thai forces remain vigilant but no troop buildup at the Thai‑Cambodian border.
- He denied reports that Chinese‑supplied tanks have been deployed or that explosions occurred on Thai soil.
- The Royal Thai Air Force clarified recent night F‑16 flights were routine training exercises.
- US DHS permits Iran football team to enter the US two days before their June 26 group‑stage match against Egypt
- The team must depart the US on the day the match ends; overnight stays are not allowed
- No reason was given for the restriction, which coincides with a recent de‑escalation in US‑Iran tensions
- Iran arrives with two points from two games; a win would guarantee progression to the knockout stage
- Fans traveling to the North American World Cup face visa denials and entry hurdles
- Players, such as Iran's squad, are subjected to sniffer dog searches and forced to base outside the US
- US immigration policies under President Trump are creating obstacles for the global tournament
- Emerson College poll shows Lander ahead of Goldman by 34 points in the Democratic primary for New York's 10th district.
- Prediction market odds on Kalshi approach 100% in favor of Lander winning the primary.
- Incumbent Goldman has pledged up to $1 million in campaign donations to contest the race.
- Lander opposes Section 485‑x housing tax incentive, drawing criticism from building‑trade unions.
- NY-12 Democratic primary features AI-regulation focus with $10M Bloomberg backing Lasher vs tech-aligned Bores
- Zohran Mamdani's endorsements in NY primaries aim to prove progressive movement's transferable power beyond City Hall
- AIPAC-backed super PAC spends $650K in NY-13 to support Espaillat against progressive challenger Avila Chevalier
- Maryland's 5th District primary sees $8.8M outside spending including $4.9M from crypto-backed Protect Progress
- Utah redistricting creates Democratic-leaning 1st District, reshaping GOP vs Democratic House race dynamics
- Survey indicates majority backs certain security reforms, while many remain unsure about others
- Prime Minister Sanae Takaichi faces tension between government ambitions and public uncertainty
- Ambivalence could complicate Japan's efforts to revise its defence policy
- Senator Pauline Hanson, leader of One Nation, was previously a frequent target of mockery
- Recent polling shows her now ranked as the most popular Australian politician
- Her rise follows a 30-year pattern of consistent messaging and right‑wing populist branding
- 81 years after the Battle of Okinawa, commemorations are held on the anniversary.
- Students born after the war are gathering and posting first‑hand accounts on Instagram.
- The group Sustainable Okinawa coordinates the effort to document and share wartime stories.
- Social media is being leveraged as a modern archival tool for historical memory.
Tech/AI 37
- The Trump administration has asked Meta to voluntarily share its Muse Spark AI model for a security review.
- Meta remains the only major U.S. AI developer without a voluntary review agreement, after Google DeepMind, Microsoft, xAI and others have complied.
- The request follows a June 2 executive order establishing a 30‑day voluntary framework for "covered frontier models" to be examined by the government.
- Earlier this month, the U.S. ordered Anthropic to block foreign‑national access to its most advanced AI models over national‑security concerns.
- US tech indices fell about 1.5% as investors worry AI spending may outpace earnings and valuations look stretched
- Oracle announced layoffs affecting thousands of employees
- SpaceX shares rose, snapping a multi‑day losing streak
- Blackstone plans a $30 billion investment in AI data centers in Japan.
- Funding will be allocated over a three- to five-year horizon.
- President Jonathan Gray warns that lacking computing capacity is riskier than an AI bubble.
- The commitment highlights rising demand for AI infrastructure in the Asian market.
- Philippe Laffont predicts a $10 trillion company in the next 15 years
- Assumes global economy grows to $200 trillion and largest company takes 5% market share
- Nvidia is seen as a cheap stock with a forward P/E ratio of 19.66
- Goldman Sachs halted Anthropic AI use in April; JPMorgan followed last week, citing U.S. export rules.
- Anthropic’s terms mirror Washington's strict limits on Chinese access to frontier AI models.
- The bans underscore rising U.S.-China tech tensions and could spur growth of domestic Chinese AI alternatives.
- Anthropic introduced Claude Tag, an AI agent summoned in Slack threads via “@Claude”.
- Claude Tag is in beta for Claude Enterprise and Claude Team customers, with expansion to other platforms planned.
- Anthropic’s valuation rose to $965 billion, overtaking OpenAI, and it has filed confidentially for an IPO.
- Admins can tightly control the data and tools Claude Tag can access in each Slack channel.
- Google's YouTube settled a California state case claiming it damaged a teen's mental health; settlement terms remain confidential
- The suit is among more than 3,300 social-media addiction lawsuits pending in California state courts and 2,600 in federal court
- Earlier related cases saw Meta ordered to pay $4.2 million and Google $1.8 million, with a federal district settlement of $27 million
- Three other platforms—Instagram, Snapchat and TikTok—remain slated for a second trial beginning July 27
- U.S. equity indices dropped sharply amid AI concerns
- Technology stocks led the sell‑off
- Investors question the long‑term strength of the AI boom
- Legion LegalTech filed a lawsuit in Washington D.C. federal court challenging a June 12 Commerce Department order
- The order forced Anthropic to disable its Fable 5 and Mythos 5 models for all foreign nationals, cutting off access for Legion’s Canada team
- Legion says the restriction causes immediate, irreparable harm to its AI‑driven legal drafting platform
- Anthropic previously sued the administration over a supply‑chain blacklist linked to military AI use
- Tech indices dropped sharply on Tuesday as the selloff intensified
- Rising interest-rate expectations are heightening valuation concerns
- Analysts warn that stretched valuations could trigger further reversals
- MFC projects global memory chip market to rise from $214 bn in 2025 to $1.68 tn by 2028
- AI, infrastructure and energy identified as key growth sectors for the next 12 months
- Five market drivers cited: interest‑rate policy, resilient earnings, AI trend, capital rotation, easing geopolitical tensions
- Investors warned of inflation volatility, rate‑decision uncertainty, AI monetisation risk, US midterms and trade tensions
- M-MEM fund targets memory‑chip leaders such as Samsung, SK hynix, Micron, Western Digital and Intel
- Menlo Ventures closed a $3 billion fund, the largest in its 50‑year history.
- The fund’s growth was fueled by a $750 million stake in Anthropic, now valued at about $14 billion.
- Menlo structured $500 million of the Anthropic investment via a special purpose vehicle and contributed $250 million from its own capital.
- The firm also launched a $100 million startup fund with Anthropic, now deployed around $250 million across 60+ AI startups.
- FCC auction of mid‑band spectrum raised over $3.5 billion.
- Up to $3.3 billion will fund the “Rip and Replace” program to purge Huawei/ZTE equipment.
- Program cost is estimated at $4.98 billion, with $1.9 billion previously approved by Congress.
- 42 % of federal recipients have completed equipment removal, facing permitting and supply‑chain delays.
- LineShine achieved 2.198 exaflops, overtaking the previous leader El Capitan's 1.809 exaflops.
- The ranking marks China's first appearance at the top of the TOP500 since 2017.
- The announcement was made at the International Supercomputing Conference in Hamburg.
- 77% of 534 surveyed French mid-sized firms use generative AI, per Bpifrance survey
- Only 17% of AI users report time savings; 23% of regular users see productivity gains vs 12% of occasional users
- 78% expect AI to boost productivity long-term, up 11pp from 2023
- 55% cite demand weakness as primary growth constraint; 2026 cash-position outlook balance at -12
- Finland may approve Tesla's FSD system before EU-wide decision in October 2026
- Traficom assessing key areas: driver control, overtaking in low-visibility conditions, and speed offset feature
- Around 6,500 cars in Finland equipped with FSD system, 0.24% of passenger vehicles
- Long March-12 rocket employed a new 'super fuel' in its latest launch.
- The fuel is claimed to boost payload capacity by roughly 10%.
- China seeks larger payload capability for commercial satellites and lunar missions without larger airframes.
- DES Ministry will roll out TH‑AI Passport by July, adhering to original timeline
- Program aims to give five million Thai citizens free premium AI tools, budgeted at 1.6 billion baht
- Critics cite budget, procurement and political‑link concerns; officials assert legal compliance and consider pay‑per‑use option
- Samsung receives increased AI chip production requests from BYD, Google, AMD and Tesla.
- TSMC's capacity is reported to be under strain as AI demand surges.
- Companies are turning to Samsung to secure advanced node capacity for upcoming AI workloads.
- New sensor shipments begin this month from Sony Semiconductor subsidiary
- Resolution increased by more than 20% versus previous models
- Design uses realigned pixel color filters to boost image detail
- Supports 4K video capture at 120 frames per second
- Rakuten Group will create a satellite business joint venture with U.S. firm AST SpaceMobile within 2024.
- The JV will purchase and operate its own satellites to enable direct-to-mobile communications across Japan.
- Service aims to compete with rivals using SpaceX’s Starlink for satellite-to-cell connectivity.
- The partnership expands Rakuten’s telecom offerings beyond traditional mobile networks.
- Japan will establish AI dialogue frameworks with France and India
- Additional talks planned with Brazil, Malaysia and the United Kingdom
- Goal is to reduce reliance on U.S. and Chinese AI technologies and avoid "digital colonisation"
- Line teams with 15 government and private agencies for the "Lifeline" disaster preparedness drive
- Natural disasters have cost Thailand over 2 trillion baht and affected 68 million people in the past 20 years
- Campaign promotes Line Alert Official Account and Line Safety Check, with a nationwide simulation on June 26, 11 am‑5 pm
- Partners include Allianz Ayudhya, Central Group, Kasikornbank and other major Thai firms
- American policymakers are pressed to act quickly on AI safety initiatives.
- The goal is to prevent lagging behind global competitors in AI development.
- Balancing rapid innovation with robust safety frameworks is highlighted as critical.
- Sacramento County Sheriff’s Office deployed a quadcopter drone with a magnetic attachment to extract a knife from a motionless suspect.
- The incident, filmed in early June 2026, was promoted as a "nationwide first" for drone‑based disarmament.
- The operation followed a SWAT deployment after the suspect, described as a felon with a firearm, failed to respond to negotiators.
- The video was shared on Facebook and Instagram on June 22, 2026, using a Mission: Impossible theme.
- ABC aired a commercial asking viewers to write to the FCC opposing a rule change
- The FCC is seeking public comment on whether "The View" is a bona fide news interview program
- Existing FCC policy classifies daytime talk shows as news, exempting them from the equal‑time rule
- The Construction Industry Council will hold the first Global AI and Smart Construction Conference (GASCCE) on June 24‑25 in Hong Kong.
- The event will feature AI‑driven robotics and software designed to automate on‑site tasks and enhance worker safety.
- Industry leaders anticipate the technologies will raise construction efficiency and lower labor costs.
- Early Bird registration for TechCrunch Founder Summit 2026 closes on June 26 at 11:59 p.m. PT, offering savings up to $190.
- The summit will be held on November 4 in Boston, bringing together over 1,000 founders and investors.
- The event focuses on practical insights, peer-to-peer learning, and networking to help startups grow faster.
- Topics include raising capital, scaling revenue, hiring, and preparing for major milestones like going public.
- Groups of four or more attendees can save up to 30% on registration fees.
- Ribbie converts real-time MLB data into 8-bit, pixel-art broadcasts with arcade-style animations
- Creator Eric Brownrout built the tool in weeks using AI coding assistants (Claude Code, Codex)
- Project leverages MLB's public StatsAPI, which courts have ruled cannot be copyrighted
- $4M pre-seed round led by Luminar Ventures to develop AI video interview platform
- Platform uses AI agents for 10-minute video interviews, converting responses into candidate profiles
- Employers pay 10% of first-year salary upon hire; free for job seekers; early access opens this week
- Author Cory Doctorow labels current AI enthusiasm a bubble and calls for separating hype from reality
- He defines a "reverse centaur" as a human serving as a peripheral for an uncaring machine, e.g., AI‑monitored Amazon drivers
- Doctorow argues the AI discourse is over‑talked and suggests focusing on practical impacts rather than hype
- Farmers are integrating AI-driven monitoring systems for livestock and crops.
- Drones are increasingly used for real‑time field surveillance and precision spraying.
- Autonomous herding dogs, such as the 3‑year‑old kelpie "Sky," are being trained to manage sheep flocks.
- Early adopters report improved efficiency and reduced labor costs.
- Preferred Networks introduced a Japanese-optimized AI model.
- The new model costs less than 50% of comparable OpenAI models.
- It removes the need for English translation by using only domestic data.
- Performance is claimed to be on par with OpenAI's models for Japanese tasks.
- Sakana Fugu combines multiple large language models into a collaborative workflow for public use
- The platform reportedly outperforms benchmark models such as Fable 5 and GPT‑5.5
- Sakana AI is Japan's most valuable unlisted unicorn, valued at over $2.5 billion
Companies 56
- Chinese EV manufacturers led by BYD gain global market share, overtaking legacy brands in Singapore.
- Legacy automakers face pressure to compete on technology, scale, and cost, with many posting losses or declining market share.
- Analysts warn that new entrants from China may face significant problems as competition intensifies, including low resale value and barely profitable vehicles.
- SpaceX announced a five‑tranche senior unsecured notes offering targeting at least $25 billion of funding.
- Investor demand reached roughly $85 billion, signaling strong appetite for the bonds.
- Proceeds will be used to repay bridge‑loan borrowings and finance AI data‑center, hardware, and power infrastructure.
- The notes cover maturities of 5, 7, 10, 20 and 30 years, marking SpaceX’s first investment‑grade dollar bond issuance.
- SpaceX shares rebounded after the announcement, ending a recent tech‑sector sell‑off.
- Nippon Steel's interest-bearing debt more than doubles in a year
- Rising interest rates increase burden of $11 billion acquisition debt
- Shares slump as company struggles to show U.S. Steel revival benefits
- GE Vernova's turbines to power Microsoft's new data center in Texas
- Project Kilby expected to deliver 2.7 GW of capacity, equivalent to 2 million households
- GE Vernova's backlog expected to reach $200 billion by 2027, a year earlier than expected
- Meta is assembling a small team to build a prediction‑markets smartphone app dubbed “Arena”.
- The app will initially use a points‑based system rather than real‑money betting, though monetisation is not ruled out.
- Prediction‑market trading volumes could reach $1 trillion annually by 2030, according to Bernstein.
- Meta’s 3.56 billion daily active users could be leveraged to grow the new app.
- Talent agency Ariel Emanuel is negotiating to buy UK theatre group ATG for about $6 billion.
- The proposed transaction would be one of the largest recent M&A deals in the live‑entertainment sector.
- ATG, owner of venues such as the Old Vic, is valued at roughly £4.8 billion (≈$6 bn) in the offer.
- Shares dropped 7.8% in extended trading following the earnings release
- 2026 revenue forecast of $855‑$865 million beats analysts' $823.9 million estimate
- 2026 gross margin projected at 38‑41%, down from 45% in Q1 and well below Nvidia’s mid‑70% range
- Q1 revenue rose to $193.4 million from $99.5 million YoY; adjusted net loss narrowed to $2.5 million versus $36.75 million expected
- Q2 sales outlook of $194 million with 36‑38% margin tops estimates of $174.34 million and 24.6% margin
- Hackers accessed a legacy OAuth token from a 2022 pilot to steal data from Klue's corporate customers
- Breach detected on June 12; affected customers include LastPass and other cybersecurity firms
- Klue did not revoke the credential after the pilot and is reviewing credential management and vendor access controls
- Hacking group Icarus claims responsibility and threatens to release the data unless ransom is paid
- Meta Glasses available in several countries starting at $299
- No screen, but comes with camera, personal speakers, and AI assistant
- Up to 8 hours battery life, with 40 hours additional usage from on-the-go charging case
- MoEngage bought San Francisco AI startup Aampe for an undisclosed cash price estimated at tens of millions of dollars
- Aampe’s AI agents personalize messaging per customer; its ARR grew 150% year‑over‑year and it serves over 30 enterprise clients
- The deal adds about 20 Aampe staff to MoEngage, raising its workforce to roughly 820 and targeting customers shifting from Salesforce and Adobe
- SpaceX plans to close its AI‑backed debt offering on Friday
- Deal described as one of the biggest AI‑linked debt financings to date
- Proceeds will be used to repay the company's existing debt
- Shareholders approved the election of new directors to the board
- Key proposals, such as a share repurchase plan, received majority support
- The meeting underscored continued confidence in management's strategic direction
- Morgan Stanley imposes limits on withdrawals from its private credit fund
- Action taken after a surge in investor pullout requests
- Limits intended to preserve fund liquidity and protect remaining investors
- Specific withdrawal cap amount not disclosed
- Revenue rose 92% YoY to $193.4 million in Q1
- Core gross margin forecast to shrink to 36%‑38% in Q2 from 46.5% in Q1
- Stock fell about 10% in after‑hours trading, extending a 28% decline since IPO
- Full‑year core revenue projected at $855.5‑$865 million, up roughly 69% YoY
- Lockheed Martin secures an $8.4 billion amendment for missile systems
- The contract boosts the company's defense backlog and revenue outlook
- U.S. defense spending continues to underpin major aerospace contractors
- Boeing secured a $2 billion contract to build and launch satellites for the DoD
- The deal expands Boeing's defense and space portfolio
- Revenue impact expected to boost Boeing's upcoming fiscal year earnings
- Tesla and NatPower have sealed a deal for the initial phase of a $5 billion battery storage plan
- The agreement covers the deployment of large‑scale energy storage solutions under the first phase
- The partnership expands Tesla's battery storage footprint and NatPower's renewable capacity
- Adjusted EPS $6.31 vs. $5.96 expected
- Revenue $25.01B vs. $24.04B expected
- Shares slipped about 6% in extended trading
- FedEx Freight paid a $4.1B cash dividend to FedEx Corp
- Fuel costs jumped 66% to $1.43B, demand unchanged
- Superhuman announced the acquisition of GPTZero, an AI detection startup.
- GPTZero reports over 19 million registered users and $30 million in annual recurring revenue.
- The startup raised a total of $13.5 million, including a $10 million Series A in June 2024.
- Superhuman already had its own AI detection tool and says the deal adds a second detector.
- Aclara Resources (TSX: ARA) obtained final environmental approval for its Penco Module rare‑earths project in Chile.
- The clearance removes the last regulatory hurdle, permitting construction to begin on the planned rare‑earth mine.
- The project highlights Chile's drive to develop critical mineral resources amid global supply‑chain concerns.
- CEO Ryan Cohen rejected a potential $35 bn performance‑based compensation package.
- GameStop is pursuing a $56 bn cash‑and‑stock bid to acquire eBay, which eBay's board has rejected.
- Quarterly revenue rose 14% to $835.3 million, and the board approved a $2 bn share repurchase program.
- GameStop's market value is about $10 bn, roughly one‑fifth of the proposed eBay deal size.
- Oracle announced 21,000 layoffs, a 12.9% reduction in workforce.
- Workforce fell from 162,000 to 141,000 employees after AI-driven cuts.
- Layoffs are linked to Oracle's debt‑financed AI investment strategy.
- SpaceX shares fell about 28% from the June 16 peak and are down roughly 12% this week
- Short interest totals around 40 million shares, representing roughly 5%‑7% of the 625 million float
- More than 30 million shares are available to borrow, with annualized borrowing fees below 1%
- Only about 60 S&P 500 companies have short interest above 7%, indicating SpaceX short positions are relatively limited
- Activist investors Anson Funds and Irenic Capital have urged a strategic review, including a potential sale
- SPS Commerce is working with Morgan Stanley and expects interest from private‑equity firms
- Shares have fallen more than 80% over the past year, putting market cap at roughly $2 billion
- Revenue grew 18% in 2025; the company projects 6‑7% growth for 2026
- BHP, Rio Tinto and Caterpillar deployed two Cat 793 XE electric haul trucks at Jimblebar mine
- Trucks have logged over 100 operating hours and completed 200 test laps in initial trials
- Pilot will assess static and dynamic charging, including on‑the‑move charging, for commercial use
- Success could accelerate electric fleet adoption across global iron‑ore mining to meet net‑zero goals
- Feasibility study projects a fourfold increase in open-pit mine value
- Payback period reduced to under 2 years
- Project targets both silver and gold output
- AbraSilver listed on TSX (ABRA) and US‑OTC (ABBRF)
- US seed market dominated by 2-4 companies controlling 70-94% of sales
- Patents on seeds obstruct competition and research in agriculture
- Taxpayer subsidies intended for farmers turned into corporate profits
- Avis Budget to receive $650 million from Pentwater Capital
- Resolution ends unusual spat between car rental company and major shareholder
- Pentwater Capital agrees to pay Avis Budget to resolve dispute
- STRC preferred stock fell to ~$82.53, drawing false comparisons to Terra’s UST stablecoin collapse
- Analyst Mark Palmer states STRC is a dividend-paying equity with no peg, not a stablecoin mechanism
- Strategy’s bitcoin-backed funding engine paused as STRC trades below $100 target, reducing efficiency
- ARK Investment Management increased its exposure to SpaceX by buying shares.
- ARK sold part of its Roku position, reducing its stake in the streaming company.
- The trades signal ARK's shift toward high‑growth space assets while trimming streaming exposure.
- CEO Le Phong bought preferred shares worth $998,756
- Transaction adds to insider ownership in Strategy Inc
- Purchase may be interpreted as confidence in company outlook
- Shareholders voted against the appointment of the former audit committee chair on June 23, 2026.
- The rejected candidate was a key outside director slated to join Nissan’s board.
- Renault, Nissan’s long‑standing partner, abstained from voting citing independence concerns.
- The vote signals potential governance friction between Nissan and its alliance partner.
- Meta invested $900 million in Indian fintech Cred
- Cred founder Kunal Shah will oversee WhatsApp
- Shah's payments expertise is aimed at boosting WhatsApp monetisation in India
- Analysts view the hire as a move to unlock new commercial partnerships
- Tekever, a Portuguese drone maker, will establish its first overseas manufacturing facility in Japan.
- The plant will leverage Japan's sensor technology and use Marubeni as its sales agent.
- Production will focus on exporting defense drones across Asian markets.
- Li-Ning announced a brand partnership with NBA star Stephen Curry.
- The deal is intended to increase the company's visibility in China and overseas.
- Li-Ning expects the partnership to revive consumer excitement and support its stock.
- Curry's global fan base is seen as a catalyst for future sales growth.
- SoftBank Corp. will begin AI server manufacturing at a former Sharp plant near Osaka in fiscal 2027.
- The move supports Japan's drive for domestic AI infrastructure to enhance economic security.
- Repurposing the shuttered Sharp facility signals SoftBank's shift toward AI hardware production.
- Toyota plans to reduce output outside Japan by roughly 100,000 vehicles by February 2027.
- The cut is driven by weaker demand linked to the de‑facto closure of the Strait of Hormuz.
- Production of the Avalon sedan for the Chinese market will be among the reductions.
- Sega Sammy Holdings reports a threefold increase in intellectual property revenue.
- The surge is driven by recent Sonic movies and related licensing deals.
- The company aims to challenge Nintendo's Mario dominance in the gaming IP market.
- Sonic the Hedgehog celebrates its 35th anniversary this year.
- SK Hynix surpasses Samsung to become the country's top market‑cap firm
- Samsung loses the No. 1 spot for the first time in over 25 years
- AI-driven demand for high‑bandwidth memory fuels SK Hynix's valuation boost
- The shift highlights the growing importance of AI‑related semiconductor supply chains
- HD Renewable Energy (HDRE) announced a $3 bn investment in battery energy storage systems in Japan.
- Initial projects will focus on underdeveloped markets, beginning with a facility in Sapporo, northern Japan.
- Japan's subsidies and low interest rates are drawing foreign firms to its nascent battery storage sector.
- Company RH submitted a Form 4 filing to the SEC on June 22.
- The filing reports insider transactions for the reporting period.
- No immediate impact on the stock price is anticipated.
- Beta Technologies submitted a Form 144 filing to the SEC on June 22
- Form 144 signals an upcoming sale of securities by insiders or affiliates
- The filing does not disclose the number of shares or transaction value
- Foodpanda reports a sharp rise in delivery orders in Myanmar.
- Higher fuel prices are making bicycle couriers more attractive to customers.
- The bike fleet now offers a competitive alternative to Grab in the market.
- No specific order volume figures were disclosed in the report.
- Allegiant secured tenders for $377.5 million of senior notes due 2027
- The notes are scheduled to mature in 2027, extending the company's debt profile
- The financing will support Allegiant's ongoing capital and operational needs
- Director Zadesky disposed of Aeva stock worth $75,817
- Transaction reported as an insider sale under SEC rules
- No additional context on motive or timing provided
- Revenue grew year-over-year, beating analysts' expectations
- Earnings per share fell short of consensus estimates
- Shares dropped in after-hours trading
- Stock slipped below its debut price on Nasdaq
- Reached a new intra‑day low before rebounding
- Ended the session in positive territory
- Twin‑motor AWD EV delivers 338 hp (252 kW) from a 74.7 kWh battery pack.
- Starting price is $37,000, roughly $3,000 cheaper than the comparable bZ model.
- C‑HR is 6.7 in (170 mm) shorter than the bZ but similar in width, targeting smaller‑SUV buyers.
- Only one powertrain option; reviewers question its overall attractiveness.
- HaloBraid raised $7 million in a seed round led by Seven Seven Six
- Device aims to reduce braiding time from hours to seconds for stylists
- Survey of 2,000 people found 95% would braid more often if faster; 8 billion hours spent annually
- Product launch slated for later 2024; team of ~15 engineers working on development
- Indian automaker Bajaj Auto and its unit Bajaj Auto Technology were impacted by a ransomware attack.
- The attack occurred earlier on Tuesday, affecting the company's systems.
- Bajaj Auto initiated precautionary actions and protocols to mitigate the incident's impact.
- The company stated that these mitigation measures have been successful so far.
- MCC Canadian Gold Ventures files multi-million dollar lawsuit against British Columbia
- Province stripped mining rights via Orders in Council
- Legal action targets alleged breach of mining rights
- Fuel surcharge reduced to HK$1,164 (US$148.48) per sector, a 14.5% drop from the previous rate.
- Cut applies to long‑haul flights from Hong Kong to North America, Europe, the Middle East, Africa and the Southwest Pacific.
- New surcharge rates take effect on July 1, marking the second reduction in under two months as fuel costs ease.
- SVP Arjun Agarwal sold ORKA stock valued at $128,468
- Sale represents a modest insider transaction
- No immediate impact on Oruka Therapeutics' broader market perception
- Owner Michael Smolyansky sold shares valued at $1.31 million.
- The transaction was disclosed in an SEC Form 4 filing.
- No additional insider transactions were reported at the time.
- AirAsia will reinstate most of the flight capacity it cut during the oil-price spike.
- The capacity restoration is planned over the next three months, targeting September.
- Easing fuel costs have allowed the airline to lower fares by 5%.
- Cocovie plans to launch its coconut‑based skincare line in China
- China's cosmetics market is valued at roughly $27 bn, offering growth potential
- The startup targets rising "V‑beauty" trends and social‑media driven consumer tastes
- Expansion signals a shift from the typical Vietnam‑China supply‑chain trade
Thai Markets 8
- Fast Pass programme aims to channel ~700 billion baht of investment in 2026
- First 23 companies approved, covering high‑tech sectors such as aircraft engines, rockets and LiDAR
- Investment promotion applications rose 142% YoY to 1 trillion baht in Q1 2026
- Private investment grew 10.1% and GDP expanded 2.8% in Q1, the first double‑digit growth in a decade
- Eight government agencies will join the pilot, moving toward online automatic approvals
- Crackdown on illegal nominee structures is not expected to dent foreign demand for luxury villas in Thailand
- Foreign buyers account for ~60% of Phuket villa transactions and >90% in Samui/Phangan, with 2,400‑3,000 villas owned/leased by foreigners in each market
- Chinese buyers rank Thailand second globally; 27.5% of their enquiries target properties above $2 million
- Potential reforms could raise condo foreign ownership quota to 75% and extend lease terms to 99 years within 12‑24 months
- Pool villas priced 15‑30 million baht near international schools remain in strong demand in Phuket
- Lease terms at 28 regional airports can now run up to 30 years for land outside airport sites
- Inside airport land lease periods increased from a maximum of 3 years to up to 10 years
- DoA authorized to sign lease and compensation contracts for projects worth up to 500 million baht
- Policy aims to attract private investment and boost revenue from aeronautical and non‑aeronautical activities
- 15-day visa exemption for Indian travellers and 30-day exemption for EU countries under consideration
- New phase of domestic tourism co-payment scheme to offer 1 million hotel room-nights with discounts
- Tourism revenue expected to reach 2025 levels due to eased geopolitical tensions
- Baht fell to a 13-month low of 33.18 per USD, down from 32.93 the prior close
- Year-to-date baht depreciation is 4.9%, compared with 6.6% for the rupiah, 6.4% for the won and 5.1% for the rupee
- Fed funds futures show a 54% probability of two 25‑bp rate hikes by year‑end, keeping pressure on the baht
- Bank of Thailand likely to keep policy rate unchanged; without a hawkish signal, baht may weaken to 33.30‑33.50 per USD
- Dollar index rose above 101.00 and gold fell 1.6% to $4,118/oz, reflecting a shift toward the dollar
- Central Pattana and Ikano commit 6 billion baht to enlarge Megabangna shopping centre.
- Expansion adds about 170,000 sqm of gross building area and 1,750 new parking spaces, slated for Q3 2028.
- Mall aims to host over 1,200 brands (up from 900) and total project value could reach 70 billion baht by 2040.
- Megabangna logged 60 million visits in 2023 and now sees roughly 165,000 daily visitors.
- Location near Suvarnabhumi airport and the Eastern Economic Corridor serves a catchment of 3 million people.
Other 30
- The Court held that RLUIPA does not permit monetary damages suits against individual prison employees.
- Justice Gorsuch wrote for the 6‑member majority, emphasizing liability applies only to state or local entities receiving federal funds.
- The ruling upholds a lower court decision, leaving Rastafarian inmate Damon Landor without a damages claim.
- France's national temperature indicator hit 29.8 °C, the hottest since 1947.
- Heatwave forecasts 39‑41 °C across much of France, affecting about 44 million people.
- Carrefour sold 30,000 AC units in one day, roughly 1,000 times normal sales.
- Red heat alerts issued in 16 Italian cities; Poland, Croatia and Hungary also under high alerts.
- Study estimates climate change added 2‑4 °C to current temperatures.
- U.S. nuclear fleet is aging with minimal new construction, exemplified by Plant Vogtle overruns.
- China is channeling AI into nuclear design and operations to speed up reactor deployment.
- AI is projected to cut construction timelines and reduce costs for Chinese nuclear projects.
- Analysts anticipate China overtaking the U.S. as the world's largest nuclear energy producer.
- U.S. policy ambivalence may further erode its nuclear leadership position.
- 6-3 decision holds that mere suspicion of criminal wrongdoing justifies placing green card holders on immigration parole.
- Ruling expands government authority to detain lawful permanent residents without clear evidence of a crime.
- Liberal justices warned the decision weakens due‑process protections for non‑citizen legal residents.
- The case reflects the Trump administration's broader effort to roll back legal safeguards for migrants.
- Airports Corporation of Vietnam appoints new chairman after previous leader was arrested in a graft probe tied to Long Thanh Airport.
- Worker shortages and ongoing corruption investigations threaten the airport's target full rollout by the end of 2026.
- Monsoon season adds further obstacles, increasing the risk of additional delays for Vietnam's largest airport project.
- BYD and Xpeng have introduced at least 20 full-size electrified SUVs in 2024.
- The shift targets higher margins but faces short product cycles and discount pressure.
- Analysts warn a potential SUV glut could erode profitability for Chinese EV firms.
- Speaker claimed fixed-rate annuities can beat market returns
- Described annuities as "sparkly, rainbow-fairyland" of investments
- Article questions the realism of such outperformance claims
- Nationwide GSM‑R digital communication failure forced Deutsche Bahn to hold all trains at stations.
- Service disruption began late Tuesday, with the issue reported about 1.5 hours before a midnight statement.
- No specific timeline for restoration was given, leaving passengers stranded across Germany.
- The Trump administration redirected climate.gov to NOAA under Executive Order 14303 (“Gold Standard Science”).
- The move referenced statutes 15 USC § 2904, § 2934, 33 USC § 893a and a June 23, 2025 memorandum.
- Volunteers and former climate.gov staff launched climate.us, restoring the site's content.
- Prime Minister Anutin Charnvirakul has instructed the Energy Ministry, MEA and PEA to investigate whether street lighting expenses have been added to household electricity bills.
- PEA governor confirms the cost may have been built into bills for more than a decade, prompting a review of when the practice began.
- The government says corrective action will be taken if the investigation finds consumers were charged for public lighting.
- The No. 1 NBA draft pick is expected to earn close to $70 million in total compensation.
- Dropping a few draft slots could cut a player's earnings by roughly $30 million.
- Expanded TV contracts are boosting rookie salaries and overall league revenue.
- PenFed Credit Union – loans start at $500, no early payoff fees, pre‑qualification available
- Navy Federal Credit Union – repayment terms up to 96 months, longer than the market average of ~69 months
- Service Credit Union – APR as low as 4.99%, up to 0.75% rate reduction with direct deposit, first payment can be deferred up to 90 days
- Alliant Credit Union – same‑day approval, debt‑protection coverage at $0.75 per $1,000 of loan balance
- The Court ruled 6-3 to deny the inmate's claim that prison guards violated his religious rights by shaving him bald.
- It upheld the lower court's dismissal, stating individual prison staff cannot be sued under the religious‑discrimination statute.
- The decision leaves the inmate without a federal remedy for the alleged violation.
- New competitive model to launch in the 2028 season, splitting events into a Championship Series and a Challenger Series
- Championship Series will feature a minimum $20 million weekly purse; Challenger Series will have at least $4 million per event
- Season will comprise roughly 23‑24 tournaments from February to August, with promotion/relegation of 20 players and 90 retaining spots
- Match‑play playoffs will return, and separate point systems will govern the two circuits
- Eli Lilly's retatrutide received FDA compassionate‑use approval for a single 79‑year‑old patient.
- Phase‑3 trial showed patients without diabetes lost roughly 28% of body weight after 80 weeks on the drug.
- The patient’s identity is unconfirmed, but speculation links the case to former President Donald Trump.
- The 36th Hong Kong Book Fair runs July 15‑21 at the Convention and Exhibition Centre.
- Theme: “Reading the World: Cultural Legacy | Joyful Journeys” emphasizing cultural exploration and tourism.
- Organisers aim to surpass last year’s visitor numbers by highlighting AI’s role in reading.
- AI tools will be featured to help readers discover new books and personalize recommendations.
- 69 individuals arrested in joint Hong Kong‑Mainland operation
- Syndicate suspected of laundering roughly HK$200 million (US$25.5 million)
- More than 170 victims targeted by the cross‑border investment scam
- Investment fraud losses in Hong Kong totalled HK$920 million since January
- Man in Zhejiang province sentenced to prison for illegal breeding of more than 300 pythons
- Pythons are Grade Two protected species in China, making unlicensed breeding and trade illegal
- Authorities described the case as serious harm to rare and endangered wildlife
- England and Ghana drew 0-0, leaving both teams on four points in Group L
- England dominated possession with 19 shots, Ghana managed only two attempts
- England need a win against Panama to secure top spot and advance to last 32
- Ghana's goalkeeper Benjamin Asare made key saves, including a late stop on Bukayo Saka
- Original prescription price was $618
- Single QR code coupon lowered cost to $15
- Consumer saved $603, a 97% discount
- Coupon applied to a generic medication at Walgreens
- Person wants to ensure all assets pass to his sons, not ex-husband
- Concern that sons might transfer assets to former spouse
- Legal options include trusts, irrevocable structures, and clear estate documents
- Conscripts alleges severe hazing by senior soldiers in Marine Division, Sattahip.
- Videos and images were circulated in a Line chat group with joking comments.
- Victim filed a complaint with the Cyber Crime Investigation Bureau after local authorities took no action.
- CCIB commander says senior officers are concerned and evidence has been received; investigation to assess jurisdiction.
- Donald Trump will attend the World Cup final on July 19 in East Rutherford, New Jersey
- FIFA president Gianni Infantino confirmed they will present the trophy together
- Trump previously appeared at the 2022 Club World Cup final at the same venue
- Almiron was shown a red card for covering his mouth and will miss Paraguay's final group match against Australia
- The suspension is for one game and is not subject to appeal
- FIFA stripped journalist Jorge Chipi Vera of World Cup credentials after his on‑air criticism of the decision
- New rule penalises players who hide their mouths during confrontations, introduced after a UEFA incident
- A massive blaze engulfed a sandal factory and spread to an on-site gas storage area, triggering a chemical explosion.
- Local residents reported respiratory problems due to smoke and fumes from the incident.
- Indonesian police have opened an investigation to determine the cause of the fire.
- Portugal defeated Uzbekistan 5-0 in Houston.
- Cristiano Ronaldo scored two goals, becoming the first player to score in six World Cups.
- The victory moves Portugal nearer to the knockout round.
- Savannah Guthrie made an emotional on‑air appeal on Tuesday for tips about her missing mother.
- A ransom note received months ago suggested Nancy Guthrie, 84, was dead.
- Nancy Guthrie was reported missing from the Tucson area and has not been found.
- Guthrie held a tissue while speaking, emphasizing the family's ongoing anguish.
- Early tetrapods, ~300 million years ago, may have bypassed amphibian-like tadpole phase
- Researchers examined embryonic fossils of embolomer predators up to 3 m long
- Findings challenge long-held view of aquatic-to-terrestrial life-cycle transition in vertebrate evolution
- Joseph McGrail-Bateup, 58, recorded a 122.4 decibel shout, the loudest ever by an individual per Guinness World Records.
- The previous record of 121.7 dB was set by Annalisa Flanagan in 1994.
- The 122.4 dB level is comparable to the noise of a chainsaw.
- First trailer released for Taika Waititi's film adaptation of Kazuo Ishiguro's novel
- Cast includes Jenna Ortega, Amy Adams, and Natasha Lyonne
- Film features themes of AI companionship and family healing
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