- Dow Jones Industrial Average closed above 52,000, setting a new record.
- Tech sector led the rally, helped by Alphabet's addition to the index.
- Broad market momentum suggests continued strength in US equities.
June 29, 2026
▲ 46▼ 53◆ 12– 158
Markets 41
- Canadian Dollar (CAD) found modest relief as front-end US/Canada spreads retreated ~10bps from last week's peak.
- Rate differentials remain punitive for CAD, with USD/CAD trading near Scotiabank's fundamental fair value of 1.4135.
- US Dollar (USD) is extremely overbought, with its daily RSI peaking near 89 (a 20-year high) and spot two standard deviations above its 40-day MA.
- Extreme USD overbought conditions suggest limited upside (capped around 1.4250/1.43) and potential for a modest retracement to 1.4075/80.
- Despite stabilization, there is little evidence of technical strength for the CAD on short-term charts.
Read on FXStreet ↗
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- Dow Jones closed at a record high as the US‑Iran de‑escalation boosted sentiment
- S&P 500 and Nasdaq ended five‑day losing streaks, posting gains
- WTI crude and Brent rose 2.2% and 1.6% respectively on supply optimism
- Gold fell amid renewed inflation and rate‑hike concerns
- Dollar slipped but stayed near a 13‑month high; yen hit its weakest level since 1986
- ECB President Lagarde's dovish remarks on 22 June put downward pressure on the euro
- Falling oil prices and an expected ECB rate hold in 2026 reduce the case for further hikes
- Rising political risk ahead of France's April 2027 presidential election adds headwinds for EUR/USD
- Analysts forecast the euro to underperform the pound as both face growth and political uncertainties
- MSCI's gauge of global stocks rose 0.89% to 1,112.38
- Brent crude futures ended up 1.61% to $73.15 a barrel
- Dow Jones Industrial Average rose 0.59% to 52,182.44
- Alphabet shares rose 3.7% to $350.24 on its Dow debut.
- The tech giant replaces Verizon, boosting the Dow's tech weighting and raising the Magnificent Seven count to five.
- Dow index funds must buy Alphabet, though the Dow's $115 bn of assets is modest versus the S&P 500's $20 tn.
- Verizon shares fell 7.8% to $42.03 following the reshuffle.
- Prime Minister Keir Starmer's resignation triggers a UK leadership contest, with candidates to be named by 9 July
- UK‑US 2‑year rate differential fell from about 66 bp in April to near 0 bp, removing carry support for GBP
- Bank of England expected to keep policy rate at 3.75% through year‑end despite a hawkish Fed shift
- Fiscal deficits have exceeded OBR forecasts for a second consecutive month, adding downside pressure on the pound
- Asian FX expected to start the week on a softer footing due to AI-led equity losses and US-Iran tensions.
- High-beta Asian currencies such as KRW may struggle if regional equities remain weak.
- Oil importers may lose relief from Brent pullback unless risk sentiment stabilizes quickly.
- AUD/USD trades near 0.6880, down from Friday's close
- RBA Minutes due Tuesday may read hawkish on inflation and tightening
- China's PMI data also key for AUD sentiment this week
- USD/JPY has broken out of consolidation, now challenging its 2024 peak near 162.00.
- Strong May retail sales (1.9% m/m vs -0.5% consensus) bolster expectations for further Bank of Japan tightening.
- Key technical levels identified include support at 159.65 and 160.40, with resistance at 162.40.
- A sustained break above 162/162.40 could open the path for further gains towards 163.70 and 164.40.
- Average Monday returns for U.S. stocks in Q2 2024 exceeded those in prior quarters
- The rally coincided with weekend Iran strikes ordered by President Trump, linking geopolitics to market moves
- Higher Monday gains helped sustain broader market momentum for the week
- Nike shares down ~48% from Aug 2025 high and 35% YTD, worst performer among Dow constituents
- Constellation Brands down ~8% in three months, 21% below July 2025 peak
- Utilities sector up ~3% week, with NRG Energy gaining 7% and AEP up ~6%
- Memory ETFs DRAM and SMH fell 11.5% and 6% from recent highs
- Healthcare sector up ~8% month, with Moderna up 47% and other biotech stocks rising
- Major European banks jointly urge regulators not to step into equity market operations
- Banks argue that intervention would distort price discovery and market efficiency
- Call comes amid ongoing discussions about potential policy measures to stabilise markets
- Major U.S. indexes rose roughly 0.5% on Monday, ending last week’s tech sell‑off
- Comcast announced a spin‑off of its cable unit, lifting investor confidence
- heightened merger‑and‑acquisition activity drove broad market gains
- Value stocks have outperformed growth stocks as inflation remains elevated
- Top newsletters are currently recommending 13 value-oriented stocks
- A single metric identified by analysts explains the value outperformance
- High inflation favors value over growth, indicating a sector shift
- USD Index slipped to around 101.10, staying near recent highs ahead of US jobs data
- EUR/USD held near 1.1420 as ECB President warned of inflation shocks; German retail sales and HICP inflation in focus
- GBP/USD hovered around 1.3260, limited upside pending UK data
- USD/JPY remained near 161.90, reflecting a multi‑decade yield gap between the Fed and BoJ
- WTI crude steadied near $70.50 as Strait of Hormuz tension maintains a supply risk premium
- USD/JPY faces technical resistance at 162; a decisive break could trigger broader APAC FX weakness
- Renewed dollar strength may outweigh macro data, prompting investors to focus on FX hedge management
- Offshore yuan (CNH) shows relative resilience but could falter if USD gains persist
- Potential negative spillover to APAC equities and rates if USD/JPY breaches the 162 level
- 10-year Treasury yield edged up 1 bp to 4.38%
- 2-year Treasury yield rose ~2 bp to 4.11%, pricing 34 bps of Fed tightening in 2026
- Dollar index fell 0.28% to 101.08 as risk sentiment shifted
- 5-year and 10-year breakeven inflation rates stayed near 2.2% (2.21% and 2.20%)
- Upcoming US data (JOLTS, ISM, jobless claims, NFP) could drive the next yield move
- USD down for a third straight session as Fed hike expectations recede
- Fed swaps now price less than 20 bps of tightening through September
- DXY rally may pause, with corrective pressure potentially pulling the index toward 100.50‑60
- Honda exploring euro‑denominated bonds totaling >400 billion yen (~$2.5 bn).
- Proceeds to compensate parts makers after EV strategy shift and to invest in hybrid vehicles.
- Bond series to include 3‑year, 6‑year and 10‑year maturities; pricing under review.
- Company posted its first annual loss in 70 years, with >$9 bn EV restructuring costs.
- Honda forecasts 500 billion yen profit for the current year on cost‑cutting and motorcycle sales.
- Eurozone Economic Sentiment Index rose to 95.0, ahead of the 94.3 forecast
- EUR/USD climbed above 1.1420, trading near 1.1421 and holding above the 20‑period SMA at 1.1376
- German HICP inflation slowed to 2.7% YoY in May, with the next flash estimate due Tuesday
- German retail sales fell 0.3% MoM in April, less than the 0.5% decline expected
- GBP/USD gains 0.40% to 1.3244 after Andy Burnham commits to Reeves' fiscal rules
- US Dollar Index drops 0.20% to 101.15, underpinning the pound's advance
- Technical resistance for GBP/USD sits near 1.3424, with support around 1.3159
- Upcoming catalysts include UK Q1 GDP data and US non‑farm payrolls later this week
- EUR/USD is holding within a short-term channel, with spot in the middle of its 1.1360-1.1450 range.
- Resistance is noted around 1.14-1.1450; a break above 1.15 is required for meaningful Euro recovery prospects.
- Markets await comments from ECB President Lagarde at the Sintra symposium, though historical impact on near-term price action has been limited.
- Scotiabank describes the EUR/USD pair as neutral to bullish.
- China blacklisted 20 Japanese firms and placed another 20 under monitoring, raising defense and rare‑earth supply‑chain risks
- Japanese commercial sales in May rose 5.0% YoY to ¥52.55 tn, with wholesale up 4.9% and retail up 5.3%
- USD/JPY hovered near 162 but iFlow shows continued JPY outflows and negative scored holdings, indicating bearish positioning
- Nikkei edged up 0.15% to 69,468; 10‑year JGB yield rose 1.9 bp to 2.64%
- USD and NZD attracted inflows while CAD, JPY and NOK saw outflows
- Post‑Sintra seasonal pattern has historically lifted EUR/USD from late June into early July
- Hawkish ECB comments are expected to spark renewed Euro buying over the next few weeks
- Early‑July EUR strength is viewed as tactical due to weaker fiscal support and supply‑side pressures
- Market expectations for a full 25 bp ECB hike this year have eased, with no need for multiple hikes per some council members
- Japan, South Korea and Taiwan stocks swung between record highs and sharp selloffs last week
- AI-driven rally has attracted new capital, pushing investor leverage higher in the region
- Rising leverage is identified as a key factor behind the heightened market volatility
- Dollar Index fell 0.11% to 97.49.
- Marks a third straight trading day of decline.
- The 0.1% drop follows a modest weakening in the previous session.
- GBP/JPY trades at 214.78, forming an ascending triangle near yearly highs
- RSI cleared the 50 level, signaling accelerating bullish momentum
- A break above 215.00 could expose resistance at 215.40‑215.50 and the YTD high of 216.60
- First support sits at the 50‑day SMA 214.06; downside risk at 213.00 and 212.83 (100‑day SMA)
- UOB expects USD/CNH to stay within a tight 6.7950‑6.8100 range in the near term.
- Strong support at 6.7900 holds; a break below could open further upside toward 6.8300.
- A sustained recovery would require a break above the 21‑week EMA at 6.8430.
- Spot rate closed at 6.8044, up 0.04% on the day.
- USD/SGD slipped to 1.2929 before rebounding to close at 1.2949, down 0.16%
- UOB expects the pair to trade within 1.2930‑1.2960 today
- Support at 1.2925 is key; a break below would cap upside near 1.2991 on a 1‑3 week horizon
- Upward momentum has eased, with range‑trading likely to continue
Macro/Economy 41
- US Supreme Court upholds Trump's firings of independent agency heads, except for Fed's Lisa Cook
- Court rules presidents have free rein to fire agency heads at will, reversing 1935 Humphrey's Executor decision
- Fed's Cook can stay in her job while fighting Trump's dismissal attempt, with court voting 5-4 in her favor
- Up to 3.4 billion people lack adequate housing worldwide
- By 2030, $3‑4 trillion needed to fund affordable housing and build 96,000 homes daily
- US Senate passed a bipartisan housing bill; EU Commission proposes new affordability measures
- UK ends no‑fault evictions; African nations adopt Nairobi Declaration to accelerate affordable housing
- Permitting changes could cancel up to 92 GW of new clean electricity capacity (7 GW already cancelled, 12 GW on federal land, 80 GW on private property).
- More than $121 bn of energy investment is at risk due to the Trump administration's regulatory actions.
- AI data centers are expected to drive a near‑threefold rise in electricity demand by 2035, heightening supply constraints.
- Renewables made up nearly 90% of the record 53 GW of new generating capacity added in 2025.
- The friction originates from a 2025 order by Interior Secretary Doug Burgum targeting wind, solar and storage projects.
- Kalshi traders see less than 60% chance nonfarm payrolls will exceed 100,000 and about 42% odds of surpassing 125,000
- Dow Jones consensus expects 118,000 jobs added, down from May's 172,000
- Traders assign a 71% probability unemployment will rise above 4.2% but only 30% chance it exceeds the current 4.3% rate
- Only 14.2% odds that GDP growth will fall between 2.6% and 3% this year
- Wall Street forecasts hourly earnings to grow 3.5% YoY, up from 3.4% in May
- China's industrial profit growth slowed to 21.1% yoy in May, with weaker consumption and investment pointing to easing momentum.
- Commerzbank analysts expect official manufacturing and non-manufacturing PMIs to slip into contraction in June.
- Despite fading rate-cut expectations, Commerzbank still sees scope for a 10bp PBoC cut in H2.
- De-dollarisation to be a slow process, contested by US authorities
- Cyclical factors like interest rate differentials to drive Dollar moves
- Near-term support for Dollar from US macro resilience and interest rates
- Average contract interest rate on loans in May rose modestly from April
- Average discount rate on loans in May edged higher, indicating tighter credit conditions
- The data suggests a continued gradual increase in borrowing costs for businesses
- Border trade with third countries rose 26.2% YoY to 145.4 bn baht in May.
- Durian exports hit 311,587 t, up 30.9% YoY, with China accounting for almost all shipments (≈311,549 t).
- Imports of electronic goods surged, e.g., computers and peripherals up 87.7% YoY.
- Trade with four neighboring countries fell 13.5% YoY to 74 bn baht, with Cambodia at zero due to closures.
- First‑five‑month total border trade reached 557.9 bn baht, up 38.2% YoY.
- Chinese tour agents resumed Japan packages for July‑August but paused sales after recent scrutiny
- Chinese arrivals in Japan fell 52% to 1.7 million in the first five months of the year
- Thailand lowered its 2026 Chinese visitor target to 5 million, down from the earlier 6.73 million goal
- Summer flights between China and Japan have dropped over 55%, intensifying competition for Thai tourism
- Thailand recorded a 17% rise to 2.5 million Chinese visitors as of June 20
- Car production down 1.13% YoY to 587,759 units in Jan‑May 2026.
- May export volumes fell 36.2% YoY, with passenger cars down 22.6% and pickups down 38.7%.
- Exports to the Middle East plunged 66.1% YoY in May, while domestic sales rose 14.1% YoY.
- Overall car exports Jan‑May fell 8.53% YoY; domestic sales increased 10.6% in May.
- Government revised 2026 GDP growth forecast to 2.3% amid sector challenges.
- Imported oil accounts for 90% of Thailand's consumption; biofuel push aims to reduce reliance
- Biofuel blends B20 (diesel) and E20 (gasoline) slated as primary fuels with subsidies to lower retail prices
- Current fuel mix: E10 and gasoline 83%, E20 16%, E85 1%; B20 entered market last month
- Thailand's 28 ethanol plants can produce up to 7 million L/day, with 3.3 million L used for gasohol
- Oil Fuel Fund subsidies may need extension beyond September to sustain biofuel price support
- April 2026 solar electricity production (including rooftop) surpassed coal for the first time on record
- Solar's share of US generation rose to 6% while coal's fell to 16% of total generation
- Solar output grew over 20% year‑over‑year, outpacing coal's continued decline
- Growth driven by solar's low cost despite seasonal low production limiting overall share
- China's CO2 emissions have surged this century, becoming the world's largest single-country source
- Social media claim that China is not driving rising emissions is contradicted by Our World in Data graphics
- Coal use growth in China exceeds the pace of clean energy expansion, indicating continued fossil fuel reliance
- CPI rose 4.2% YoY in May, the highest in three years
- PCE price index reached 4.1% YoY, its highest since April 2023
- Money‑market fund yields sit at 3.46% annualized, below inflation, delivering negative real returns
- $7.9 trillion is currently held in money‑market funds, well above historical averages
- Nigeria has pinpointed a sizable area rich in critical minerals needed for batteries and tech
- The discovery supports the government's plan to reduce reliance on oil revenues
- Officials aim to develop a domestic supply chain for metals such as lithium, cobalt and rare earths
- Labour frontrunner Andy Burnham vows to devolve power to regions and enforce fiscal discipline
- He promises to curb the welfare bill and keep borrowing within existing limits
- Burnham targets a 10‑year growth plan and could become prime minister by July 20 if unopposed
- Critics note his refusal to take questions and the challenge of a sluggish economy and rising defence costs
- Steelmakers cite rising electricity demand from AI data centers as a new competitive pressure
- Industry warns that limited power supply could constrain steel production capacity
- Potential power shortages may affect profitability and investment plans for steel firms
- Philippines spent $407 million on solar panels from March 1 to May 31, per customs data.
- The nation became the world's largest buyer of solar panels since the Iran war began.
- Rooftop solar adoption surged amid rising electricity prices and fossil‑fuel supply constraints.
- Japanese PM Sanae Takaichi leads a delegation of over 50 firms, including Suzuki, Itochu and Toyota Tsusho, to India.
- South Korea plans three megaprojects centered on a new semiconductor cluster in the southwest, with Samsung as a major investor.
- Indonesia will increase mandatory biodiesel blend to B50, aiming to cut diesel import costs by about $8.9 billion.
- Japan will raise single-entry visa fees from ¥3,000 to ¥15,000 and multiple-entry from ¥6,000 to ¥30,000, while cutting passport fees by up to 50%.
- A verdict in Indonesia’s Nadiem Makarim corruption case is set for Tuesday, with prosecutors seeking an 18‑year sentence over $134 million losses.
- Rapidly aging demographics in Asia raise pension and healthcare expenditures
- Higher social costs may limit funding for capital‑intensive renewable projects
- Potential delay in the region's shift to low‑carbon energy as governments prioritize social spending
- Philippines inflation rose to 7% YoY in April and May, driven by higher fuel prices linked to the Iran conflict
- Household spending across Southeast Asia is being curtailed as price pressures remain elevated
- Economists forecast a gradual consumer recovery while inflation stays high
- Micro‑lending often prioritises profit over social impact.
- The model struggles to deliver promised benefits to the world’s poor.
- Critics argue that profit‑driven structures limit effectiveness.
Central Banks 8
- Supreme Court upheld Fed governor protection in a 5‑4 vote, keeping the Fed insulated from political removal.
- The ruling limits the President's ability to fire Fed governors without cause, reducing political pressure on monetary policy.
- In a separate 6‑3 decision, the Court gave presidents authority to remove FTC commissioners, raising regulatory uncertainty.
- Experts warn that preserving Fed independence helps avoid artificially low rates that could stoke inflation.
- The decisions may affect other independent agencies such as the SEC, FDIC and CFTC.
- Supreme Court ruled 5-4 to block Trump's bid to dismiss Fed Governor Lisa Cook
- Decision preserves Federal Reserve independence, the first presidential removal denial since 1913
- Ruling highlights limits on presidential power over the central bank amid ongoing political tensions
- ECB will rely on policy rates as primary tool, reducing use of unconventional measures
- Inflation expectations are now anchored close to the 2% target, supporting price stability
- Structural pressures keep rates away from the effective lower bound, allowing measured adjustments
- Enhanced ECB tools and banking supervision lower fragmentation risk and improve financial resilience
Read on ECB Press ↗
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- USD breaks out of G10 range as DXY climbs above 101
- Fed's hawkish messaging and rate repricing underpin near‑term dollar strength
- Interim US‑Iran peace deal reduces safe‑haven demand but is outweighed by higher US rate expectations
- HSBC expects continued USD gains while US growth stays resilient
- Warsh's first public appearance outside the US since taking office, speaking on June 30 at 13:00 GMT alongside Lagarde, Bailey and Macklem
- Fed kept the federal funds rate at 3.5‑3.75% in June and dropped forward guidance, adopting a shorter policy statement
- Analysts expect focus on AI, productivity, balance‑sheet issues and limited near‑term guidance, but tone could signal a hawkish bias
- Market participants watch for any shift in inflation outlook that could move the US dollar and Treasury yields, treating the event as a tradable catalyst
- The People's Bank of China set the new overnight reverse repo rate at 1.25%, 15 bps below the 7‑day repo benchmark
- ¥300 bn of liquidity was provided via the facility while the 7‑day reverse repo stayed at 1.40%
- Government bond yields slipped (10‑yr CGB to 1.714%) and the yuan strengthened, USDCNY down 0.106% to 6.7932
- Consensus had been 1.30‑1.35%, making the move a mild dovish surprise
- House Speaker Mike Johnson transmitted a housing bill to Donald Trump with a CBDC ban.
- The bill bars the Federal Reserve from issuing a central bank digital currency until 2030.
- Trump has 10 days to decide on the housing bill.
Energy/Oil 15
- WTI crude futures up 2.5% to $73.50/bbl
- Brent crude futures rise 2.3% to $76.20/bbl
- Oil prices surge as US-Iran conflict escalates
- Brent Crude failed to sustain a breakdown below the 61.8% Fibonacci level at $62.81, reinforcing support.
- The price is retesting a decade-long falling wedge breakout, confirming it as new support.
- A third higher low is forming since 2020, indicating a structural bullish pattern.
- Confluence of the 78.6% Fibonacci retracement and long-standing channel support reinforces the bullish case.
- Medium-term target is set at the $136 region, aligning with the 2022 high and a -27.2% Fibonacci extension.
- President Putin admits Russia faces fuel shortages after a series of Ukrainian long‑range drone attacks on oil refineries.
- Ukraine reports strikes on two additional refineries – one in Krasnodar (~186 miles from front) and another in Yaroslavl (~435 miles from border).
- Russia is considering a full ban on diesel exports and plans to import more fuel while accelerating repairs of damaged facilities.
- The Central Bank forecasts Russia's 2026 GDP growth at only 0.5%‑1.5% as the oil sector operates below capacity for months.
- Analysts warn the disruptions could tighten global oil supply, though Moscow calls the deficits "temporary".
- The Middle East conflict has removed over 1 billion barrels of supply from the market.
- China’s strategic reserve is roughly 1 billion barrels, matching the lost volume and curbing demand.
- The IEA plans to release its latest oil‑stockpile data, suggesting further buying pressure on crude.
- Analysts expect renewed buying could lift Brent and WTI prices in the coming weeks.
- WTI fell below $70, support zone $67.0‑$70.0; a close above $71.92 would confirm first bullish move
- Brent testing $72.9 support; a close above $76.80 needed to fill recent bearish gaps
- Both benchmarks show bullish divergences but momentum weakening, keeping downside targets near $67‑$70
- Brent crude at $72.45/bbl, down from wartime high of $188/bbl in April
- Analysts warn shipping through Strait of Hormuz remains far from normalized due to Iran's leverage and sanctions risks
- Strategists see potential rebound to $80/bbl by year-end as inventories rebuild and flows normalize
- Four months of fighting around the Strait of Hormuz heightened oil market volatility.
- Regional leaders cite the crisis as a catalyst to fast‑track solar capacity expansion.
- Southeast Asian solar installations are projected to grow by roughly 15% YoY through 2025.
- U.S. natural gas futures settled lower on expectations of sufficient supply
- Heat wave is boosting power‑sector demand ahead of the July 4 holiday weekend
- Market anticipates adequate gas inventories to meet the short‑term demand surge
- XRG and Eni will each hold a 32% interest in the Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas gas blocks
- The blocks are located in Argentina's Vaca Muerta shale basin, a key source for the country's LNG export plans
- Acquisitions were formalised through Sale and Purchase Agreements signed by the parties
- 19‑year‑old vessel Arctic Express, formerly Queen Cassiopeia, transferred to SMP Techmanagement in May
- Tanker loaded LNG from floating storage for the Arctic LNG‑2 project as output ramps up
- Adds to Russia's 'dark fleet' of vessels operating under sanctions, underscoring evasion efforts
- Russia asked Kazakhstan for 50,000 tons of AI‑92 gasoline, roughly 25% of Kazakhstan's output
- Kazakhstan holds about 1.1 million tons of fuel reserves and has renewed a six‑month export ban on petroleum products
- Atyrau refinery will be offline from June 26 to July 15, cutting domestic fuel supply
- Kazakhstan may cut customs duties on Chinese fuel imports for a year to ease jet‑fuel shortages
- President Putin said Russia faces a gasoline deficit due to drone damage to key refineries
- OPEC raised its long-term oil demand forecast to 19 million bpd by 2050, up 18% from today
- Libya's National Oil Corporation reported crude output of 1.487 million bpd, the highest since 2011
- Output is just short of the NOC's short-term target of 1.5 million bpd, paving the way for a longer-term expansion plan
- President Putin acknowledged widespread gasoline shortages and queues at stations on June 28
- Shortages are attributed to damage from Ukrainian drone strikes on energy infrastructure
- Authorities aim to minimise impact on civilian fuel supply while addressing the crisis
- Pakistan will raise LPG imports from Iran, though volumes were not disclosed
- Government is studying the option to import cheaper Iranian crude oil
- The plan follows the U.S. waiver of sanctions on Iranian petroleum
- Pakistan has acted as a mediator in U.S.-Iran talks and secured LNG carrier passage from Qatar
Gold/Metals 10
- Gold slipped below $4,100, down about $50, marking a fourth straight monthly loss
- Silver also fell, though the decline was modest
- Crude oil hovered near $70 per barrel, limiting inflation concerns
- Fed still pricing three rate hikes in 2024, with ~60% chance in September and ~80% in December; headline inflation at 4.1%
- Upcoming US jobs report is the only near‑term event that could pause the metal decline
- US-Iran conflict continues with conflicting reports on planned Doha negotiations, raising geopolitical uncertainty.
- Rising energy prices from the conflict fuel inflation concerns, prompting central banks, including the Fed, to adopt a more hawkish stance.
- Gold futures show an 'extremely bearish' technical outlook with multiple EMA bearish crossovers (9/20/50 piercing 200/100 EMAs).
- Gold futures are trading below key EMAs and testing immediate support at $4,035.38, with a potential breakdown to $3,957.
- While central bank purchases offer some support, softer ETF demand could weigh on bullion in the near term.
- Silver (XAG/USD) down 2.37% to about $57.75.
- Strait of Hormuz tensions raise oil‑supply risk, boosting inflation expectations.
- Investors eye June US non‑farm payrolls, forecast 114K jobs and 4.3% unemployment.
- Higher inflation outlook could keep Fed rates restrictive, pressuring non‑yielding metals.
- Gold and silver rallied on short-covering after steep declines, not a trend reversal
- US dollar strength and Fed’s higher-for-longer rates remain key headwinds for precious metals
- Gold fell from ~$4,400 to ~$3,975/oz and silver from ~$71.65 to ~$55.75/oz last week
- Gold price fell to about $4,015 per ounce in early Asian trading.
- Inflation worries lift expectations that the Fed will keep rates higher for longer, weighing on gold.
- Traders await US ADP employment data on Wednesday and non‑farm payrolls on Thursday for monetary‑policy clues.
- The Fed left rates unchanged in June but signaled a possible hike later this year.
- Gold fell into negative year‑to‑date territory after a sharp pullback from its January peak
- Stronger U.S. dollar, higher Treasury yields and easing safe‑haven demand weighed on prices
- SPDR Gold Shares (GLD) holds about $132 billion AUM with a 0.40% expense ratio
- Newmont Corp. reported 46% YoY revenue growth in Q1 2026 and launched a $6 billion share‑repurchase program
- Aura Minerals, with a $5 billion market cap, projects roughly 41% earnings growth for the next year
- Silver (XAG/USD) trades below $60, down >1.5% on Monday and over 22.5% YTD.
- 50‑day SMA at $72.61 nears 200‑day SMA at $69.64, signaling a potential death‑cross.
- RSI trending lower toward oversold; a break below $57 could test supports at $56.49 and $54.46.
- Bullish reversal would require a move above $60 to retest the $69.64 200‑day SMA.
- Gold futures fell, ending a two‑session winning streak
- Price now hovering near the $4,000 per ounce threshold
- Market reaction linked to weekend clashes affecting traffic through the Strait of Hormuz
- Gold fell ~1.5% to $4,021, down from a daily high of $4,088
- U.S. Dollar Index slipped ~0.30% to 101.10, supporting the gold decline
- Money markets price a 34‑bp Fed hike in September with ~64% probability
- Technicals show gold below $4,000, with next support near $3,983
- Gold price has tripled since the 2016 Brexit vote, topping $5,000 per ounce earlier this year.
- Central banks keep adding bullion, underpinning a suggested 10% portfolio allocation to gold.
- UK economy is estimated to be about 8% smaller due to Brexit, while London's insurance market grew to $187 billion.
Crypto 39
- Ethereum co-founder Vitalik Buterin is publishing a technical series on program obfuscation, calling it crypto's most powerful idea.
- Indistinguishability obfuscation (iO) aims to hide how code works, not the data, potentially acting as a 'trustless trusted third party' when paired with a blockchain.
- While iO can now be built under reasonable assumptions, current implementations are 'galactically' slow and unusable for practical applications.
- Buterin compares iO's current stage to where SNARKs were in 2010, suggesting years of optimization are needed for it to become usable infrastructure.
- Unlike privacy coins like Monero which hide transaction data, iO focuses on hiding program logic, a capability not yet in production.
- White House officials will meet law‑enforcement representatives on Monday to address objections to the Senate's Crypto Market Structure (Clarity) Act.
- Section 604 of the bill seeks to shield DeFi developers from money‑transmitter liability, a provision criticized by the National Sheriffs Association and other groups.
- Senate leaders aim to bring the bill to the floor in July; passage requires 60 votes with only about four weeks of Senate time before the summer recess.
- Opposition from Democrats such as Senator Elizabeth Warren highlights concerns over illicit‑finance protections in the legislation.
- July 1, 2024 MiCA rules require unlicensed exchanges to cease or limit services, affecting over 10 million EU crypto users.
- Up to 80 % of the roughly 3,000 pre‑MiCA virtual asset service providers are expected to exit the market.
- The European Banking Authority proposes fines of up to 12.5 % of annual turnover for major stable‑coin issuers that breach MiCA.
- Ripple proposes XRPL Lending Protocol for institutional borrowing against tokenized assets
- Blockchain handles loan mechanics, while credit decisions remain with human teams
- Protocol aims to compete with Aave and Compound, offering predictable risk for institutions
- BlackRock integrates Ethena's yield-generating USDe token into its Aladdin risk management platform.
- A new $100 million liquidity facility is created for BlackRock's tokenized money market fund, BUIDL.
- The facility enables BUIDL holders to exchange holdings for stablecoins (USDC, USDtb) outside traditional market hours.
- Ethena's governance token (ENA) surged 8% following the announcement.
- This move deepens BlackRock's engagement with decentralized finance and tokenized real-world assets.
- JPMorgan finds little institutional interest in perpetual futures beyond speculative trading
- Basis risk, lack of term structure, and clearing concerns limit adoption
- Offshore perpetuals trading dominated by a small number of large participants
- USDT price surges to 8.5% above dollar peg on Indian crypto platforms
- Government crackdown on crypto payment firms chokes off USDT supply
- Market makers pull back from sourcing USDT, widening domestic liquidity gap
- Bitcoin price steadied around $60,000, facing support challenges
- US stock indices gained on optimism about a potential Iran peace deal
- Analysts cite weak buying conviction in Bitcoin, hinting at downside risk
- BNY Mellon will let institutions custody, mint and redeem Circle's USDC on its Digital Asset Custody platform
- USDC, with a market cap over $73 billion, becomes the first stablecoin supported, with plans to add more issuers later
- BNY oversees $59 trillion in assets, expanding its digital‑asset services amid growing institutional demand
- Stablecoin market projected to grow to $2 trillion by 2028 (Standard Chartered) or $4 trillion by 2030 (Citigroup)
- FCA reduces required capital reserve for stablecoin issuers from 2% to 1% of total token value
- Regulation eases redemption timelines and drops certain public disclosure obligations
- Rules apply to sterling‑denominated stablecoins and become effective in October 2027
- Systemic stablecoins will be supervised by the Bank of England under a stricter regime
- FCA publishes final crypto regulatory framework
- All crypto firms must obtain FCA authorisation by Feb 2027
- Framework includes licensing, AML and consumer protection rules
- Applies to all crypto asset service providers operating in the UK
- Bitcoin is trading just above $60,000, a key psychological support level.
- Futures markets show softening, raising doubts about a firm bottom.
- Analysts warn that a break below $60K could trigger further downside.
- Strategy will sell bitcoin from time to time rather than a single transaction
- Proceeds are earmarked to strengthen the company's U.S. dollar reserve
- Cash generated will be used for share repurchase programs
- Senate leadership sets a July 13 deadline to advance the CLARITY cryptocurrency market structure bill
- Lawmakers have only four weeks before a scheduled recess to consider the legislation
- Potential delays could arise from election campaigning and upcoming break periods
- Put‑call ratio for Bitcoin rose to its highest level in the past year
- Demand for put options surged, signaling increased bearish sentiment
- Bitcoin ETFs recorded net outflows in the latest reporting period
- Analysts warn the price could fall toward the $55,000 level
- Crypto-backed loan volume reached $67 billion, up 49% year over year.
- Ledn issued the first investment‑grade Bitcoin‑collateralized ABS, a $188 million transaction.
- Bitcoin loan rates currently range from 7.5% to 16% APR, with banks aiming to narrow spreads.
- Major U.S. banks are expanding Bitcoin credit facilities, and the Lightning Network could improve loan efficiency.
- Three licensed exchanges—Coinbase, Kraken and OKX—are launching bonus campaigns to attract EU users blocked by MiCA.
- MiCA rules require crypto firms to obtain EU licences, leaving many existing platforms unlicensed.
- The incentives include transfer bonuses and prize draws to boost on‑boarding volumes across the EU market.
- JPMorgan urges Congress to apply bank-like capital, liquidity and consumer‑protection rules to stablecoins and tokenized deposits.
- The Senate Banking Committee cleared the Digital Asset Market Clarity Act, but issues like DeFi developer liability and stablecoin yield remain unresolved.
- JPMorgan warns that lacking robust safeguards, crypto assets could pose risks to consumers and the broader financial system.
- $16.69 billion lost to crypto hacks, about 40% (~$6.7 billion) tied to stolen private keys
- Security firms report operational key incidents now exceed smart‑contract exploits
- Industry moves toward multi‑party computation, account abstraction and hardware‑wallet enforcement
- Bybit breach in Feb 2025 cost $1.5 billion in Ethereum, illustrating broader attack surface
- Chainalysis published a proposed ontology to standardize blockchain address clustering for investigators
- The framework breaks clusters into wallet segments and adds confidence tiers for attribution
- Designed to aid law‑enforcement and prosecutors, the proposal seeks industry feedback on standards
- Company notes limitations: on‑chain analysis alone cannot identify end users without external data
- AI tools can be used to defend DeFi protocols against attacks
- Same AI tools available to security teams as attackers
- Balancing AI-driven security with potential risks
- Ukraine transfers $8.3 million in seized crypto to state management for the first time in its history.
- The funds were seized from an international hacker group accused of laundering proceeds from data theft.
- The move comes amid plans to create a potential crypto reserve, following the US model.
- Nouriel Roubini now sees potential in blockchain
- Former Bitcoin critic turned blockchain believer
- 5 notable crypto skeptics who changed their minds
- Strategy to sell Bitcoin to fund dividends and buybacks
- Established $2.55 billion reserve for future Bitcoin purchases
- Raised STRC payout to 12%
- Breez introduced a new SDK feature enabling Bitcoin-to-stablecoin payments.
- The feature allows routing payments from Bitcoin balances to recipients in USDC and USDT.
- Users are not required to hold stablecoins to utilize this payment method.
- The service supports transactions across more than 30 different blockchains.
- Bitmine adds $43 million of ETH, lifting holdings to 5.7 million, or 4.7% of Ethereum's circulating supply
- Chairman Tom Lee attributes crypto weakness to quarter-end 'window dressing' as investors cut losses
- Bitmine's holdings now worth $9.8 billion, nearing goal of owning 5% of all ETH
- CFTC data shows net long dollar position at $34.5B, highest in seven years, up 18% in a week
- Leveraged funds' short SOFR futures hit record 2.97M contracts (~$700B notional) on rising rate bets
- Bitcoin near $60K, below 200-week SMA for first time since 2023; historically a bullish entry signal
- ETF outflows hit $4B in June as crypto sentiment remains poor
- Oil volatility drops to 46%, reducing geopolitical risk premium but Strait of Hormuz flows remain constrained
Geopolitics 51
- Record-breaking heatwave grips Italy and Balkans, killing hundreds and disrupting daily life
- Excess deaths reported across Europe, with 1,300 reported since June 21, and 1,000 in France
- Wildfires break out in Croatia and Albania, with firefighters battling blazes in pine forests and olive groves
- The U.S. and Iran are scheduled to hold new talks in Doha, Qatar, on Tuesday, following a weekend of military exchanges.
- President Trump stated Iran requested the meeting but also threatened 'annihilation' if a deal is not reached.
- A ceasefire is currently in place, allowing commercial vessels to transit the strategically vital Strait of Hormuz.
- The Strait of Hormuz is a critical energy chokepoint, handling approximately 20% of the world's oil traffic.
- US officials will brief Congress on an initial peace deal, with special envoys traveling for the meeting.
- 6-3 decision overturns Humphrey's Executor precedent, giving presidents authority to remove FTC commissioners at will
- Ruling applies to independent agencies but explicitly leaves Federal Reserve board members exempt, pending separate case
- Decision may politicize FTC policy and affect future regulatory actions, raising concerns among businesses and lawmakers
- Court upheld Mississippi's practice of counting absentee ballots received within five days post‑Election Day in a 5‑4 vote
- Ruling rejects the RNC's claim that federal law requires ballots be received on Election Day
- Trump called the decision a "tremendous loss" and urged Congress to pass the SAVE America Act to restrict mail‑in voting
- Around 30 states that allow post‑Election Day ballot receipt retain that ability under the decision
- China's military releases first official footage of sixth-generation fighter
- Analysts suggest Beijing may be ahead of competitors in developing next-gen warplanes
- Footage released to mark 10th anniversary of China's first heavy transport aircraft, the Y-20
- Russian missile and drone attacks killed at least 11 civilians and injured 40 in Ukraine.
- President Zelensky described the attacks as 'horrific'.
- Ukraine's energy grid is under strain from the strikes and a heatwave with temperatures exceeding 36 degrees Celsius.
- Russian attacks have caused tens of billions of dollars in damage to Ukraine's energy network since February 2022.
- China's overseas loans and investments under BRI totaled $1.3T+ since 2013, but political influence remains limited and recipient-driven
- Analysts note 'subversive carrots' (corrupt deals, kickbacks) backfired in Philippines/Malaysia, sparking public backlash
- China leveraged economic ties to secure short-term wins (e.g., Greece/Hungary vetoing EU statements critical of China)
- China's strategy relies on positive inducements (trade/investment/aid) vs. Western sanctions, but divides allies to slow anti-China coalitions
- Success hinges on recipient countries' institutions; China's execution often lacks tailoring to local governance
- 2016 UNCLOS Arbitration Award clarified historic rights and maritime feature status, invalidating China's 'nine-dash line' claims
- Tribunal ruled historic rights incompatible with UNCLOS, limiting claims to convention-defined maritime zones
- China reduced reliance on 'nine-dash line' post-award, adopting 'Four Shas' doctrine to align with UNCLOS terminology
- Philippines enacted 2024 Maritime Zones Act codifying award provisions into domestic law
- Award remains legally influential despite China's rejection, reshaping regional maritime dispute frameworks
- Taiwan's opposition KMT rejected the government's drone spending package.
- The KMT submitted its own proposal, worth several billion dollars more, to boost military unmanned vehicle capabilities.
- The initiative aims to enhance Taiwan's broader drone sector.
- This reflects a growing political consensus in Taiwan on the centrality of unmanned systems for future defense.
- 6 people killed in shooting at youth welfare facility in Stade, Germany
- 5 died at the scene, 1 later in hospital
- 1 suspect arrested, 2 others subject to police measures
- US strategy in the Pacific demands clear alignment from partners, creating friction with island nations prioritizing sovereignty and non-alignment.
- China's approach is more flexible, offering benefits (e.g., BRI, aid, security) without requiring explicit alignment, making non-alignment with the US the path of least resistance.
- Pacific Island states leverage this competition to extract concessions from both powers while resisting pressure to commit exclusively to either side.
- US and allied initiatives (e.g., IPEF, PBP) are often perceived as driven by alarm over China rather than genuine regional interest, demanding upfront commitments.
- For success, the US must ground its foreign policy in shared interests, offering initiatives that demonstrate greater merit than Beijing's, rather than forcing alignment.
- New State Council Decree No. 837 (effective July 1) imposes state control on Chinese firms' overseas tech transfers
- Bans transfer of restricted tech in rare-earths, EV batteries, AI, biotech, and aerospace via engineers, training, or remote guidance
- Reverses decades-long policy of extracting foreign tech via JVs, now protecting Chinese outbound know-how
- Meta’s blocked $2B AI deal (Manus) exemplifies enforcement; decree formalizes existing practices
- Aligns with EU’s protectionist shift (Industrial Accelerator Act) amid global fragmentation
- Uzbekistan and Kyrgyzstan are increasingly resolving complex border disputes, including enclaves, via negotiations and land swaps.
- The recent transfer of Chongara and Tash-Tobo enclaves from Uzbekistan to Kyrgyzstan, with residents receiving Kyrgyz citizenship, exemplifies this new approach.
- A 2024 land swap also resolved the Barak enclave issue, with residents relocated and equivalent land exchanged between the two nations.
- This transformation began after 2016, leading to a comprehensive border agreement in 2022 that delimited most of their nearly 1,400-kilometer shared border.
- Agreements aim to improve daily life in border regions and strengthen regional connectivity, including a new transport corridor reducing travel distance from 225km to 55km.
- China's economic growth has led to a shift in global aspirations
- The 'Chinese dream' is becoming a viable alternative to the 'American dream'
- Middle-class aspirations are no longer uniquely American
- Airstrike struck the Mawasi area of Khan Younis, a zone previously designated as humanitarian.
- Two civilians were killed and several injured; total Gaza deaths rose to five on Monday.
- The attack set tents ablaze, heightening concerns over the safety of humanitarian corridors.
- Keiko Fujimori secured the presidency in Peru's June 7 runoff election
- Victory margin was under 50,000 votes out of more than 18 million cast
- She defeated left‑wing candidate Roberto Sanchez, shifting power to the conservative camp
- A flight from Miami arrived in Caracas with 146 deported Venezuelans just hours before the quake.
- The earthquake struck on Wednesday, leaving more than 100 of those deportees unaccounted for.
- Among the deportees were 19 women and seven children, according to ICE Flight Monitor.
- Survivors say the deportees were being held in a hotel when the tremors hit.
- US Secretary of State Marco Rubio met LNA Deputy Commander Saddam Haftar to discuss Libya's political unity.
- Talks covered merging military, economic and political institutions, building on an April deal covering public‑sector wages and the National Oil Corporation.
- The effort follows 15 years of conflict since the 2011 Gaddafi overthrow and a 2020 ceasefire that left the country divided.
- Justices John Roberts and Brett Kavanaugh praised for preventing a financial collapse
- Potential financial chaos was narrowly avoided according to commentary
- Most Americans are unaware of how close the economy came to crisis
- Finance Minister Bezalel Smotrich urges immediate establishment of Jewish settlements on Gaza's northern perimeter
- He asserts that roughly 70% of the Gaza Strip is already under Israeli military control
- The proposal, framed as a "conquest," could further heighten regional tensions
- New Iraqi government has begun an unprecedented anti-corruption drive
- Multiple senior politicians and officials have been detained
- Corruption has been a persistent issue in Iraq for over two decades
- Public protests have long demanded action against widespread fraud
- John Yoo, former DOJ official, will serve as advisor to prosecutors investigating a Trump conspiracy case
- Investigation targets former police and intelligence officials alleged to have conspired against former President Donald Trump
- Yoo is known for early‑2000s memos that justified harsh interrogation techniques after the September 11 attacks
- Eight Palestinians, including two children, killed in Gaza by an Israeli drone strike on a bridge.
- A 15-year-old boy died after being shot during an Israeli raid in the West Bank's el‑Bireh area.
- B’Tselem reports 241 Palestinian children/teenagers killed in the West Bank since Oct 7, 2023; total West Bank deaths 1,085, Gaza deaths over 73,000.
- Overnight strikes in Afghanistan killed at least 36 civilians and wounded 163 people
- Pakistan claims its precision strikes eliminated 29 Taliban-aligned fighters
- The attacks were presented as retaliation for recent cross‑border attacks on Pakistan
- Destroyed homes were inspected by villagers, highlighting extensive damage
- Israeli forces shelled a village in southern Syria overnight
- Artillery and illumination flares were deployed in the attack
- Syrian media says residents panicked and fled to nearby towns
- EU and China created a ministerial-level platform to resolve trade grievances
- Joint statement demands tangible results on trade imbalances, export controls and IP by October
- Four initial workstreams focus on trade balancing, export controls, IP protection and market access
- China added 20 Japanese firms, including Mitsubishi Electric and Komatsu, to its export control blacklist
- The move heightens trade pressure on Japan and challenges Beijing's claim of limited alternatives
- Canada wrapped its largest-ever trade mission to Japan, with about 300 delegates from 175 companies
- Ottawa is pitching a critical minerals supply chain to capture market share as Japan seeks non‑Chinese sources
- Andy Burnham, Labour's likely next prime minister, announced a platform of radical political reforms.
- He could become Britain's seventh prime minister in a decade as early as July 20.
- Burnham delivered the pledge in a Manchester speech, signalling a push for change ahead of the leadership transition.
- Israeli shelling hit Abdin village in Deraa province, forcing families to evacuate overnight
- Syrian Foreign Ministry condemned the attack as a violation of sovereignty; Turkey issued a similar condemnation
- Syrian Sijil Center logged nearly 300 Israeli operations in Deraa and Quneitra in June, including 107 incursions
- Israel's defence minister said troops will remain in the occupied Syrian sector indefinitely
- Lukashenko met Russian President Vladimir Putin at the Valdai residence
- He traveled to Beijing and met Chinese President Xi Jinping, calling China "like coming home"
- China pledged support for Belarus' sovereignty, independence and territorial integrity
- The trips follow a series of public exchanges between Belarus and Ukraine
- Pakistani airstrikes in Paktika, Paktia and Kunar provinces killed at least 36 civilians and wounded 163
- Pakistan says its operations killed 29 fighters, while Afghanistan condemns the attacks as sovereignty violations
- Repeated strikes forced dozens of families to flee villages near the disputed border
- Incidents raise concerns over escalating Afghanistan‑Pakistan tensions amid cross‑border TTP activity
- Work on the Dushanbe‑Kulma highway has restarted after a security pause following the killing of five Chinese workers in November 2025.
- Tajik authorities have deployed special forces to guard Chinese crews and implemented additional border security measures.
- Tajik parliament approved a $61 million (569 million somoni) Chinese‑funded project to build nine border facilities with Afghanistan in March 2026.
- The attacks were linked to criminal or drug‑smuggling groups; the Taliban announced investigations but no group claimed responsibility.
- The highway is a key Belt and Road Initiative link connecting Tajik capital to China via the Kulma Pass.
- US missile-warning satellite operates at roughly 22,000 miles altitude and could be compromised by an unknown spacecraft.
- The satellite, costing several billion dollars, is a key asset for detecting ballistic missile launches.
- Simulations examine both hostile interference and technical failure scenarios to guide emergency response.
- Proposed actions include reactivation protocols and defensive measures to protect space‑based early‑warning systems.
- US Asia policy perceptions vary among regional players amid Middle East conflicts and China-US uncertainty
- Recent INDOPACOM renaming and Shangri-La Dialogue discussed as key events
- Regional players' views on US Asia policy remain mixed
- Central Asia's energy demand surge from AI/mining outstrips aging Soviet-era infrastructure, causing blackouts and rationing
- Kazakhstan, Uzbekistan, and others plan nuclear power expansion to meet future energy needs
- Russia emerges as key partner for nuclear projects, raising geopolitical and dependency concerns
- Andy Burnham vows to give more powers to local government
- Plan aims to spread wealth and economic growth
- Westminster described as 'broken' and in need of change
- Vietnam's president To Lam attended the Shangri-La Dialogue in Singapore.
- The forum is Asia's leading defense summit, drawing senior officials from the region.
- His participation underscores Vietnam's strategic pivot toward greater regional integration.
- Analysts will monitor for potential policy shifts or new security cooperation initiatives.
- Chadchart Sittipunt won a second term as Bangkok governor
- He received more than 60% of the vote according to the Election Commission
- His campaign platform emphasized economic revitalisation and infrastructure upgrades
- The result was confirmed by local media and election officials
- President Trump announced the nomination of Keith Sonderling as permanent Labor Secretary
- Sonderling has served as acting Labor Secretary since April after Lori Chavez-DeRemer resigned
- He was confirmed as deputy Labor Secretary by the Senate in a 53-46 vote
- The U.S. commemorates its 250th anniversary while navigating a complex relationship with China.
- Chinese‑American individuals continue to encounter prejudice despite their contributions to hard‑tech and soft‑power sectors.
- Ling Xin and Meredith Chen argue that discrimination remains a pressure point in the broader US‑China dynamic.
- Switzerland handed over 18 Benin Bronze artifacts to Nigeria.
- The ceremony was held at Lagos' National Museum.
- The return expands Nigeria's collection of repatriated cultural items.
- The move follows heightened African calls for restitution of colonial-era artefacts.
- Brazil advances to the World Cup round of 16 after a 2-1 win over Japan
- Gabriel Martinelli scores the winner in injury time to seal the victory
- Brazil will face either Ivory Coast or Norway in the next round
- Thousands of undocumented migrants are seeking to exit South Africa
- Anti-immigrant protests and xenophobic tensions have escalated nationwide
- Activist groups have set a June 30 deadline for migrants to leave
- Cape Town is a primary hub for migrants attempting to depart
- Hasan says democracy is eroding in both the United Kingdom and the United States
- Britain faces another prime‑minister change a decade after Brexit
- The United States looks ahead to the November midterm elections
- He argues that independent journalism is more essential than ever
- Treasury secretary outlines principles guiding U.S. economic statecraft.
- Critics argue the principles contain internal contradictions.
- Debate centers on whether the policies create trade vulnerabilities or confer economic privileges.
- Guided‑missile destroyer Nanning and frigate Hengyang will visit Hong Kong waters.
- Port call runs from July 2 to July 6, marking the 29th anniversary of Hong Kong’s return to China.
- Residents can board the vessels and participate in cultural exchange activities.
- Cabinet approval rating climbs to 68% in latest survey
- Rating up 2 percentage points from May's poll
- Approval has stayed above 65% for nine consecutive months
Tech/AI 24
- The Court ruled 6-3 that individuals have a reasonable expectation of privacy in cell‑phone location data.
- Law enforcement must obtain a search warrant with probable cause before requesting geofence data from companies such as Google.
- The decision does not ban geofence warrants but mandates narrower requests, prompting firms like Google, Microsoft, Uber and Yahoo to reconsider data storage practices.
- The case stems from Chatrie v. United States and sends the appeal back to the circuit court to assess probable cause.
- June 9: Anthropic launched the Fable 5 AI model, an adaptation of its Mythos system.
- June 12: The U.S. Treasury issued an export‑control order barring foreign and non‑citizen access to Fable 5, forcing Anthropic to shut down the model.
- June 26: Regulators granted limited access to a version of Mythos while negotiations on Fable 5 continue.
- March: The Pentagon labeled Anthropic a supply‑chain risk, prompting tighter scrutiny of AI models.
- Analysts warn the crackdown could hinder U.S. AI firms, echoing China’s 2020 “Jack Ma” episode that wiped two‑thirds of Alibaba’s value.
- South Korean government pledges $1 trillion for memory chip capacity expansion and AI data centers by 2028
- Projects target boosting global memory chip supply and commercial rollout of humanoid robots from Hyundai's Boston Dynamics unit
- Investment follows record profits and rising valuations at Samsung and SK Hynix driven by AI‑related demand
- President Lee Jae‑Myung cites semiconductors, physical AI, and AI data centers as the "triple axis" for growth
- Samsung and SK Hynix allocate $518 bn to build four new memory fabs in southwest South Korea
- An additional $52 bn is earmarked for a high‑bandwidth memory packaging hub and $356 bn for AI data centers through 2035
- Total tech‑sector commitments exceed $900 bn to expand AI and memory‑chip capacity
- Samsung plans $1.7 tn (2,655 trn won) over ten years, with 425 trn won for the Honam region
- China successfully ground-tested a hypersonic ramjet engine capable of reshaping its internal airflow channel.
- The engine operated continuously from Mach 1.8 to Mach 6 without failure, a significant advancement.
- It utilizes graphite, a common mineral, as a heat-resistant material to contain superheated gases.
- This development overcomes previous limitations where such engines typically required Mach 4 for ignition.
- Thailand aims to finalize the AI Act draft by the end of FY2026
- AGILE Index 2025 ranks Thailand 2nd in AI social acceptance and 5th in development inclusivity
- Global studies estimate AI could contribute over US$15 trillion to the world economy by 2030
- Proposed penalties include flat fines or revenue‑percentage fees for AI law violations
- Public hearings will be held and mandatory labeling of AI‑generated content is under review
- Gemini's personalized Nano Banana image generation is now free for eligible US users, previously limited to paid tiers
- Feature uses data from Gmail, Photos, YouTube and Search to create images without explicit prompts
- Personal Intelligence feature already rolled out globally, with recent expansions to India and Japan
- Gemini AI chatbot surpassed 750 million monthly active users earlier this year
- Democratic socialist mayoral slate wins NYC primary in June 2026
- Previous socialist-led city governments historically imposed stricter utility regulations
- Rapid AI-powered electricity expansion is prompting renewed discussion on utility oversight
- Apple will decouple security patches from the upcoming iOS 26.6 release, delivering them ahead of the scheduled rollout.
- The accelerated update schedule targets the shortened exploit window created by AI tools that speed up malicious hacking development.
- Apple says no known attacks have exploited the newly patched vulnerabilities, but faster deployment is deemed necessary.
- Waymo robotaxis are no longer available on Uber’s app in Phoenix, ending a nearly three‑year pilot.
- Waymo has reintegrated the former Uber‑used vehicles into its own Phoenix fleet; service continues in Austin and Atlanta via Uber.
- Waymo’s fleet has grown to about 4,000 vehicles and it plans launches in roughly 20 new cities this year.
- Uber is preparing a new autonomous‑vehicle partnership in Phoenix, partner not disclosed.
- The partnership ended at the contracted end date in May after deploying just over a dozen Waymo vehicles in Phoenix.
- EU plans to force Google to allow alternative AI models on Android
- EU proposal would require Google to share anonymized search data with competitors
- Google says the changes could trigger a rapid rise in fraud across the EU
- Potential regulations could be implemented within weeks if approved
- QuEra aims to deliver a 10,000‑qubit quantum processor by 2028, supporting hundreds of error‑corrected logical qubits.
- Current hardware is ~260 qubits with relatively high error rates; the firm will stop selling NISQ systems.
- A more powerful machine is planned for launch just one year after the 2028 target, according to its roadmap.
- Users can reserve a username of 3 to 35 characters, with rollout later this year
- Usernames are not searchable and require the exact handle to contact someone
- WhatsApp will notify users when the feature becomes available in their country
- The system targets over 3 billion users, reserving names for celebrities, VIPs and organizations
- J.P. Morgan added five Asia‑Pacific currencies (AUD, HKD, JPY, CNY, SGD) to Kinexys, now supporting eight currencies
- Kinexys has processed over $4 trillion in transactions since launch, with average daily volume above $7 billion
- The platform offers 24/7 settlement and FX for institutional clients, aiming to speed cross‑border payments
- Rocket Lab will buy Iridium at $54 per share, valuing the satellite operator at about $8 billion.
- The deal adds Iridium’s dozens of orbiting satellites and valuable spectrum to Rocket Lab’s portfolio.
- Acquisition follows Rocket Lab’s recent purchases of Motiv, Mynaric and a precision‑component maker, highlighting ongoing space industry consolidation.
- If completed, the transaction would position Rocket Lab as a full‑service space company competing with larger players such as Amazon’s Kuiper.
- Raises $11M seed round led by First Round Capital, with contributions from Y Combinator and BoxGroup
- Shipping first batch of high-dexterity robotic hand to researchers and robotics companies
- Goal is to become top hand supplier to companies that don't want to develop dexterous manipulation
- Busy Bar is a customizable display for productivity with a 72×16 LED matrix display and up to 400 nits of brightness
- Device has Wi-Fi, Bluetooth, and USB connection options, with a 3250 mAh battery lasting up to 8 hours of active time
- Matter-certified, allowing integration with smart home ecosystems and support for custom widgets and components
- AI-driven data centers using liquid cooling face bacterial contamination risks that can clog systems and cause costly downtime
- Omen AI’s real-time fluid monitoring spectrometer detects bacterial growth and equipment wear, reducing shutdown risks
- Raised $31m Series A led by Nava Ventures; total funding now $40m since 2024
- US House approved a bill targeting online safety for minors
- The measure mandates age verification and parental consent for certain content
- Tech platforms may face new compliance requirements and potential penalties
- All California state and local agencies will access Anthropic’s Claude AI at a 50% discount.
- The deal includes training and support from Anthropic to help employees draft documents and analyze data.
- The agreement follows Gov. Newsom's March executive order to accelerate AI use while maintaining safety standards.
- Federal officials have labeled Anthropic a "supply‑chain risk," limiting its Pentagon contracts, contrasting with the state deal.
- Cursor introduced 'Cursor Mobile' to let users prompt coding agents from their phones.
- The app works with Cursor 2.0, enabling creation and control of agents started on desktop.
- Follows similar mobile tools from Anthropic and OpenAI as AI coding shifts to phone workflows.
- Developers are moving toward mobile AI coding, with Anthropic’s Claude Code head now coding mainly on his phone.
- TIDAL will prevent fully AI-generated tracks from earning royalties starting July 15, 2026.
- AI‑tagged songs will display an “AI” badge and be excluded from direct‑to‑fan sales.
- The policy aligns TIDAL with Spotify, Apple Music, Deezer and Qobuz, which have similar AI‑music rules.
- Deezer reports that 44% of daily new uploads are AI‑generated, underscoring industry concerns.
- Pocket secures $11M funding led by Accel and Y Combinator for AI-powered meeting note-taking device
- Device sold 130,000 units since launch, priced at $129 with optional $200/year AI features subscription
- Targets professionals like lawyers, salespeople, and doctors for offline, context-rich meeting capture
Companies 46
- Comcast plans to split its media properties (NBCUniversal, Sky) from its mobile and broadband networks.
- The separation will be a tax-free spin-off, expected to complete within a year.
- Existing shareholders will receive stock in both Comcast and the new standalone media company.
- Comcast shares surged over 20% following the announcement.
- The move aims to adapt to audience shifts towards social media and streaming platforms.
- Strategy (MSTR) approved a new program allowing sales of its Bitcoin holdings for specific capital purposes.
- Bitcoin sales can fund a USD reserve (up to $1.25B), preferred dividends, interest payments, and up to $2B in stock buybacks.
- The program does not set an overall limit on BTC sales but authorizes monetization for specific uses; other sales require board approval.
- Selling $1.25B in BTC would equate to roughly 20,800 BTC, or about 2.5% of Strategy's current holdings.
- MSTR shares rose 3% following the announcement, while Bitcoin traded below $60,000.
- Rocket Lab will acquire Iridium for roughly $8 billion in cash and stock.
- Deal gives Rocket Lab access to Iridium’s 66 LEO satellites and global network.
- Acquisition positions Rocket Lab to compete with SpaceX’s Starlink broadband service.
- Transaction expected to close in Q4 2026, pending regulatory approvals.
- Senator filed a letter asking the regulator to reject the $17 billion NextEra Energy–Dominion Energy deal.
- The merger would create the largest U.S. power generator, combining NextEra's renewables with Dominion's gas assets.
- Regulatory review is ongoing, with the Federal Energy Regulatory Commission expected to decide by year‑end.
- Tesla stock posted its biggest one‑day gain in over a year following the update.
- The rally was driven by investor optimism over the long‑awaited self‑driving technology.
- Despite the jump, the share price remains down for the month.
- Salesforce announced a $3.6 bn acquisition of AI customer‑service platform Fin
- At least six acquisitions since Dec, including M3ter and Contentful, follow an $8 bn Informatica deal
- Shares have fallen ~17 % in June and are down about 40 % year‑to‑date, the second‑worst monthly performance in three years
- Analysts remain skeptical that AI‑focused M&A will offset concerns over AI disrupting Salesforce's SaaS model
- Agentforce suite ARR hit $1.2 bn; combined ARR of Agentforce, Informatica and Data 360 now ~$3.4 bn, up >200 % YoY
- NBCUniversal may enter digital gaming and new entertainment franchises after Comcast spinoff
- Comcast's cable and connectivity business to focus on technological investments in data centers and AI
- Potential M&A activity for NBCUniversal assets, including Netflix as a potential buyer
- Fines for ultra-fast-fashion items set at €0.25‑€6 per product in 2024, rising to €10 by 2030
- Law bans advertising and influencer promotion of ultra-fast-fashion retailers
- Applies to online-only platforms like Shein, Temu and AliExpress, but excludes EU brands such as Zara and H&M
- Senate approval still requires presidential promulgation before enforcement
- Waymo and Uber discontinued the Phoenix robotaxi pilot after operating just over a dozen vehicles.
- Waymo now runs about 4,000 autonomous vehicles in the U.S., with exclusive rides via Uber in Austin and Atlanta.
- Uber reports a >10x year‑over‑year increase in AV mobility trips, now live in eight cities with plans for up to 15 by year‑end.
- Tesla’s limited robotaxi fleet in Texas stands at 69 vehicles, while other AV firms (Zoox, Pony.AI) seek permits in Arizona.
- ACCC filed court action against Amazon Australia alleging unfair Prime Video contract terms
- More than 1 million annual Prime subscribers affected between Nov 2023 and Aug 2025
- Subscribers required to pay an extra A$2.99/month after July 2024 for ad‑free streaming
- ACCC seeks declarations, penalties, consumer redress and costs
- Amazon says it is reviewing the case and has cooperated with the regulator
- Q4 EPS $1.84 per share versus $1.46 expected
- Revenue $642 million, more than double YoY and above $559 million estimate
- Funded backlog $1.2 billion, up 65% year over year
- FY2027 revenue guidance $2.13‑$2.23 billion; EPS guidance $3.02‑$3.34 per share
- Ionic Digital will list on Nasdaq via direct listing under ticker "IOND", offering up to 10.8 million existing shares.
- The company holds cryptocurrency mining assets from Celsius Mining and raised $400 million at a $2 billion pre‑money valuation.
- As part of Celsius' Chapter 11 restructuring, Ionic issued roughly 37 million Class A shares to former Celsius creditors.
- Shareholders approved Securitize's SPAC merger with Canton Equity Partners II (CEPT)
- Combined company will start trading on NYSE Thursday under ticker SECZ
- CEPT shares surged up to 20% on Monday ahead of the approval
- Tokenization market projected to reach $5.5 trillion by 2030 (Citi) and $2 trillion by 2028 (Standard Chartered)
- House committee considers amendment to ban Pentagon contractors from buying back their own stock
- Industry groups, including Chamber of Commerce, urge rejection of the amendment
- Proponents aim to force contractors to deliver before paying themselves, critics argue
- French biotech firm Ipsen announced a $450 million acquisition of Kartos Therapeutics.
- The deal is a cash transaction valued at $450 million.
- The acquisition aims to broaden Ipsen's drug development pipeline.
- Eli Lilly, Regeneron among first 7 companies selected for FDA's PreCheck pilot program
- Program aims to save companies up to 14 months in review time
- Participating companies must build new facilities capable of addressing market supply gaps or improving access to therapies
- Charter Communications stock jumps after reports of a possible deal with SpaceX's Starlink
- Starlink is exploring entry into the wireless market, which could create a competitive partnership with Charter
- Analysts note the relationship could be both collaborative and competitive, labeling it a 'frenemy' scenario
- AADX IPO raised $650 million at $20 per share; stock closed at $20.53, up >2% from IPO price.
- Buy/outperform ratings with price targets $23‑$30 imply upside of 12‑46% versus last close.
- Forecasts project mid‑teens organic sales growth, 20% EBITDA growth, and ~14% revenue CAGR (2025‑2030).
- Analysts cite exposure to SpaceX launch systems and defense aviation as key growth drivers.
- 8090 Labs secured $135 million in Series A funding, led by Salesforce Ventures
- Investors include WndrCo, Craft Ventures, and CEOs Nikesh Arora and Adam D’Angelo
- Palihapitiya will assume the role of CEO, moving from board member to operating lead
- The startup's AI coding agent, Software Factory, targets enterprise software with audit controls
- Comcast will spin off its cable and media assets into two separate companies
- Regulatory decision on the split involving Lisa Cook is postponed, giving the firm extra time
- Technology sector indices rose about 2% as tech stocks rebounded following the announcement
- A pay‑TV operator filed for bankruptcy, underscoring sector pressures
- Dish DBS plans to file Chapter 11 as early as Tuesday
- Regulatory scrutiny over its satellite network build‑out precedes the filing
- Bankruptcy could affect Dish Network shareholders and creditors
- No financial details were disclosed in the announcement
- Deal valued at $3.5 billion, comprising $1.2 billion cash and $2.3 billion Digital Realty shares
- Digital Realty buys Blackstone's 80% interest in two 96‑MW centers and 50% interest in a third 96‑MW center
- Assets valued at $7.8 billion including debt and planned capex
- Transaction expected to close on Tuesday; facilities to stabilize in H1 2027 and H1 2028
- Digital Realty shares fell 2.4% in extended trading
- SpaceX shares rebounded 7% after a 35% pullback from post‑IPO high
- Options traders bought over four times more calls than puts, with call volume double puts
- Around 500,000 options contracts traded, about half the daily average since trading began
- Rocket Lab surged 16% with options volume 50% above its 30‑day average
- First ore shipment processed through the rebuilt Idaho mill.
- Mill reconstruction completed after six years of redevelopment.
- Company shifts from construction to ramp-up, eyeing increased silver output.
- Bunker Hill listed on TSX (BNKR) and US OTC (BHLL).
- Feasibility study triples Lemhi project's estimated value
- Mine life extended with addition of 1 million ounces of gold reserves
- Projected increase could boost Freeman Gold's market valuation
- Company trades on TSXV and OTC under FMAN / FMANF
- Swedish government granted a 25-year lease for a heavy rare earths mine.
- Lease awarded to TSXV-listed Leading Edge Materials (LEM).
- Project is among Europe's leading heavy rare earths deposits.
- Approval came after the company addressed environmental concerns.
- Concession aims to strengthen Europe's rare earth supply chain.
- Micron stock slipped to $1,023.65, an 18% drop from its 52-week peak.
- $2.2 bn of options premium traded Monday; calls outpaced puts but more calls were sold than bought.
- VanEck Semiconductor ETF (SMH) rose ~3% while put volume was over three times call volume.
- Roundhill Memory ETF (DRAM) logged ~300,000 contracts, with call buying twice put buying, yet call selling still exceeded purchases.
- Kalshi filed a lawsuit against Illinois AG Kwame Raoul and Governor J.B. Pritzker over the state's classification of its platform as an unlicensed sports wagering operator.
- Illinois' new tax would impose a unique levy on prediction market bets, potentially subjecting Kalshi to higher tax rates and felony penalties if violations are found.
- The filing comes as prediction markets recorded their biggest weekly volume ever, driven by events such as the NBA Finals, World Cup, and Stanley Cup.
- Arena achieved $100 million ARR eight months after launching its commercial service.
- Revenue grew from $30 million ARR in January to $100 million ARR after introducing AI Evaluations.
- The company has raised $250 million in funding, including a $150 million Series A at a $1.7 billion valuation.
- Arena’s platform processes over 10 million user evaluations and competes with labeling firms like Scale AI.
- FPT manages over 3.8 million sqm of industrial and logistics space across Thailand, Vietnam and Indonesia, targeting 4 million sqm by 2026
- Plans six new projects in 2026 totaling more than 188,000 sqm, expanding its factory and warehouse portfolio
- Industrial estate footprint to grow from 1,891 rai to 3,800 rai by 2026, plus a new 2,200‑rai estate in Chon Buri
- Commercial portfolio features flagship mixed-use developments such as One Bangkok, Park Ventures and Samyan Mitrtown
- Integration of TICON and Golden Land under Frasers Property Limited creates a diversified, resilient multi‑asset platform
- Q1 core premiums and fees rose 10%, with Asia up 22% and Latin America up 20%
- AI-driven efficiency expected to add 20–25 basis points to margins each year
- Consensus forecasts EPS to grow ~25% to $12.40 by FY2028, with ~5% from buybacks
- Average ROE stands at 17.2%, at the upper end of the 15–17% target range
- Proposed Sep 77.5/87.5/92.5 call spread aims to capture upside while limiting downside
- Trump purchased $1M–$5M in Axon Enterprise shares on Feb 10, two weeks before ICE issued a $220M Taser procurement notice
- ICE’s Feb 24 notice sought 17,800 Tasers with specs matching Axon’s Taser 10 model, effectively excluding competitors
- Axon shares surged 34% in the week after ICE’s notice; Trump’s potential paper gain estimated at ~$350K if he bought at the top of the range
- Ethics watchdogs flagged appearance of conflict despite no evidence of direct involvement or impropriety
- ICE contract award stalled due to cost and DHS leadership changes, per anonymous procurement source
- Alibaba's AliExpress sees triple-digit growth in air conditioner sales in Europe
- Midea air conditioner inventory sold out in Germany within a week
- Fan sales surge in southern Europe as heatwave intensifies
- Prediction market platforms have integrated distribution and exchange infrastructure over the past eight months
- Kalshi and Polymarket own exchange technology but lack consumer distribution, making them likely acquisition candidates
- Robinhood traded over 16 billion event contracts this year; Coinbase generated about $100 million in annualized prediction market revenue
- DraftKings disclosed annualized consumer prediction volume near $3.4 billion, indicating a growing market
- Regulatory uncertainty persists as the CFTC and state gaming regulators clash over event contracts
- La-Z-Boy Inc submitted a Form 4 filing on June 29, reporting insider transactions.
- Form 4 disclosures detail changes in holdings by company insiders as required by the SEC.
- The filing is routine and not expected to materially affect the company's stock price.
- Director Michelle Griffin sold shares worth $1.05 million in Adaptive Biotechnologies.
- The sale was disclosed in a recent insider filing, reducing her stake in the company.
- No other significant insider transactions were reported, and the move does not immediately impact operations.
- CEO Michael DeGiglio acquired $75,328 of Village Farms (VFF) stock
- The purchase was disclosed in a recent insider filing
- Insider buying may be interpreted as a bullish signal for the shares
- Ares Acquisition Corp III announces IPO pricing of $345 million.
- The offering will be listed on the New York Stock Exchange.
- The IPO is structured as a special purpose acquisition company (SPAC).
- Sony will stop streaming 551 movies and shows for UK PlayStation users on September 1
- Titles affected include "Outrage: Way of the Yakuza", "Paddington", "Terminator 2", and others
- Removal is driven by licensing agreements with StudioCanal; a new deal could restore access
- Sony previously pulled Discovery content in 2023 but reinstated it after renegotiating terms
- Kobo and StoryGraph launch integration that automatically syncs reading progress for e-books and audiobooks.
- Kobo serves about 12 million users in 190 countries; StoryGraph has grown to over 5 million readers.
- The feature works on all Kobo devices and apps and requires no subscription (StoryGraph Plus is $5/month).
- The partnership aims to chip away at Amazon's Kindle-Goodreads ecosystem.
- ASX-listed Energy Transition Minerals (ETM) sought to extend its Kuannersuit rare‑earths exploration licence in Greenland.
- The Greenland government denied the licence extension, stopping further exploration at the project.
- ETM is evaluating legal action to contest the government's decision.
- Intersected copper grades averaging 1.7% at the Buen Retiro project in northern Chile
- Expanded the drill program to target additional zones within the Chilean project
- Results aim to further define the resource potential of the Buen Retiro deposit
- CEO Shaun Heinrichs discussed upcoming test mining at a Quebec mining event.
- Company aims to start the test mining phase in the near term.
- Announcement was presented in a sponsored video on The Northern Miner.
- CEO Jon Wiesblatt highlighted advancement of the Contact Lake gold project
- Discussion took place at the Mining Investment Event in Quebec City
- Video is a sponsored feature on The Northern Miner website
- Premium Plus tier becomes available on YouTube Primetime Channels as of June 29
- Subscribers can watch Peacock content, including live sports and original series, within the YouTube app
- Tier offers limited advertisements compared with standard Peacock plans
- Viewers can still subscribe directly through Peacock's website if preferred
- Fast Retailing introduces stricter human‑rights audit criteria for its supply chain.
- New auditing standards will cover more than 700 factories worldwide.
- The initiative anticipates tougher EU due‑diligence regulations on supply‑chain transparency.
- Enhanced monitoring aims to reduce reputational risk and improve compliance.
Thai Markets 5
- Thai Industries Sentiment Index fell to 84.7 in May from 85.3 in April
- Consumer Confidence Index dropped to 49.5 in May from 50.6 in April
- Exports rose 10.6% YoY in May, marking the 23rd consecutive month of growth
- Tourist arrivals increased 3.5% YoY to 2.35 million in May
- Headline inflation held at 2.79% in May, with core inflation at 0.92%
- Mortgage loan growth was only 1% YoY in March‑April 2026, the first rise since late 2024.
- Refinancing accounted for 35.2% of new mortgage lending in the first four months of 2026.
- K‑Research projects full‑year 2026 mortgage lending to be flat to -0.5%, versus a -0.5% decline in 2025.
- Mortgage rejection rates stay at 40‑50% of applications, while self‑rejections make up about half of failed transfers.
- Extended relaxed LTV rules to June 2027 are unlikely to trigger a meaningful recovery without stronger consumer confidence.
- Thailand placed 27th worldwide and 7th in Asia for ease of starting a business (US News & World Report 2026)
- May headline inflation was 2.79% and core inflation 0.92%; public debt at 66.6% of GDP
- International reserves held at US$287.5 billion at end of May
- Government targets OECD membership by 2028 to deepen structural reforms
- New virtual banks face a 3‑5 year restricted phase with close BoT supervision
- Paid‑up capital must rise from at least 5 bn baht at launch to 10 bn baht before full operations
- Loan offerings limited to small‑ticket unsecured personal loans under 10,000 baht, plus BNPL and lock‑phone loans
- Analysts expect loan portfolio growth to be modest in the first five years despite low‑overhead model
- Thailand already has 186.3 million mobile/internet banking accounts, about 2.8 times the population
- C-beauty brands grow in Thailand, spurred by Chinese entertainment and OTT platforms
- South Korean cosmetics stay most popular; Japanese brands show stagnant growth
- Chinese producers eye Indonesia expansion via e‑commerce, leveraging large capacity
- Thai consumers remain supportive of domestic brands amid broader retail growth
Other 38
- US CO2 emissions rose in 2025, the only major economy with an increase
- Global CO2 emissions grew overall in 2025, driven by US output
- Report notes a reversal of prior declines in emissions across most regions
- Earthquake in La Guaira killed more than 1,700 people
- Up to 15,000 people left homeless
- Hundreds are sheltering at a local golf course
- Tens of thousands remain missing
- Trump Accounts open July 4, permitting up to $5,000 annual contributions per child and a $1,000 Treasury seed deposit
- Projected 401(k) balances by end‑2025: $146,476 for women vs $194,597 for men, highlighting a gender gap
- Women earn 81 cents per dollar earned by men and make up three‑in‑five caregivers, factors that widen retirement savings disparity
- More than 6 million children already enrolled; experts say the accounts alone won’t resolve underlying gender biases
- Confirmed deaths reached 1,719 after twin quakes of magnitude 7.2 and 7.5.
- Injured count rose to 5,034 and 15,866 people were left homeless.
- Around 30,000 Venezuelan responders and 2,700 foreign experts are conducting rescue operations.
- Over 500 tonnes of aid and 86 search‑dog teams have arrived from 24 countries.
- A 4.6‑magnitude aftershock struck at 10 km depth, but caused no additional damage.
- Supreme Court rejected Trump's request to overturn a $5 million jury verdict
- Verdict found Trump liable for sexual abuse and defamation of E. Jean Carroll
- Court issued a brief, unexplained order with no dissent, leaving judgment intact
- Jannik Sinner survived a first‑round scare, beating Miomir Kecmanovic 4‑6, 6‑3, 6‑7(8), 6‑2, 6‑3 after injuring his foot
- Novak Djokovic defeated world No. 102 Wu Yibing 6‑4, 5‑7, 6‑4, 6‑4 to advance to the second round
- Sinner’s win marks his first five‑set victory in six attempts and keeps his title defence alive
- With Carlos Alcaraz sidelined, Sinner becomes the favorite to retain Wimbledon
- Women’s world No. 1 Aryna Sabalenka reached the second round with a 65‑minute 6‑2, 6‑3 win
- Alcohol Control Committee will broaden legal definition of convenience stores to close loopholes used by some retailers
- Ban on self-service alcohol dispensers in convenience stores, in place since 2018, will remain unchanged
- Committee aims to submit revised regulations within the next few months
- Goal is to improve monitoring of alcohol sales near residential areas and schools
- Three people were seriously injured, two of them critically, in the blast.
- One of the wounded is identified as Ukrainian oligarch Vadym Yermolaiev.
- Authorities describe the explosion as a deliberate act.
- Police are hunting a fugitive believed to be responsible.
- US Department of Justice announces reward of up to $10 million for leads on Russian state-linked cyber group.
- Hackers have compromised thousands of Signal and WhatsApp accounts of journalists and US government employees since March.
- Attack method involves phishing messages masquerading as automated support, prompting users to click links or share verification codes.
- IRS guidance exempts contributions to Trump (529A) accounts from gift‑tax filing requirements
- Parents can give up to $5,000 per child annually without needing to file a gift‑tax return
- Contributions count toward the $19,000 annual gift‑tax exclusion for 2026
- Over 6 million children have already been enrolled in the program
- Xia Baolong visits to accelerate development of the Northern Metropolis project
- Plan positions Hong Kong to add a third growth curve beyond finance and real estate
- University town aims to become a hub for original research and innovation
- CFCs' ozone‑destructive potential was identified in 1974.
- The Antarctic ozone hole was discovered in 1985, accelerating action.
- The Montreal Protocol to phase out CFCs was signed in 1987.
- MIT researchers assess whether modern tools could have spotted ozone damage decades earlier.
- A 21-year-old survivor was found 106 hours after twin quakes struck La Guaira, Venezuela.
- Rescue teams from Venezuela, Mexico and El Salvador collaborated on the operation.
- The earthquakes occurred on June 26, causing extensive damage to apartment buildings.
- Arsenic contamination from unregulated Myanmar mining detected up to 9x above safety thresholds in Mekong basin rivers
- Thai government faces criticism for weak response; automated monitoring stations proposed but not yet funded
- Heavy metals risk entering food chain, posing long-term health risks including cancer across region
- 59‑page consultation paper submitted to Legislative Council outlining reforms
- Plans to criminalise same‑sex rape and set a uniform age of consent at 16
- Will remove gender‑specific provisions and increase penalties for offences against minors and incapacitated individuals
- China revived drought-resistant Syntrichia caninervis moss in space lab
- Plant withstood microgravity, radiation, and dehydration
- Potential tool for future Mars colonization missions
- 78 individuals arrested, including 59 men and 19 women aged 15‑73
- Operation "Blacksword" solved 165 fraud cases with losses exceeding HK$5 million (≈US$638k)
- HK$1.2 million lost by a victim seeking cheaper medicine; 69 suspects linked to mule accounts
- Earthquakes in Venezuela caused significant casualties and widespread damage.
- Survivors report delays in receiving humanitarian assistance.
- Authorities face criticism over the speed of aid distribution.
- Paraguay won 4-3 on penalties after a 1-1 draw in the last‑32 match
- Germany (ranked 10th) fell to Paraguay (ranked 41st), marking a major upset
- Germany missed three spot kicks, including Kai Havertz’s opening miss
- Paraguay advances to the round of 16 to face France or Sweden on July 4
- Genesee County prosecutors charged the parents with murder, torture and child abuse.
- The child, Casper O’Brien, was 7 years old and weighed 116 kg (255 lbs) at the time of his death.
- He died in November after first responders were called when he stopped breathing, with officials citing improper feeding.
- Sam Kerr, 30-year-old Australian forward, joins Gotham FC on a contract through the 2030 season.
- Kerr departs Chelsea after six-and-a-half years, having scored 116 goals across all competitions.
- She returns to the NWSL, where she holds the league record with 77 regular-season goals.
- Gotham FC will debut Kerr after the transfer window opens on July 14, with a match on July 15.
- Single 70‑year‑old homeowner is evaluating two senior‑financing options.
- Reverse mortgage offers lump‑sum or monthly payments but reduces home equity and may affect inheritance.
- Home‑equity agreement provides cash in exchange for a share of future home appreciation, preserving ownership.
- Key considerations include life expectancy, cost of borrowing, impact on heirs, and personal financial goals.
- Twin earthquakes above magnitude 7 struck northern Venezuela within two minutes, causing building collapses and dust‑filled streets.
- Chinese expatriates received a flood of messages on WeChat from friends in Caracas, Valencia and Maracay reporting damage and needs.
- Local Chinese association leaders in La Guaira coordinated assistance, making the community network a vital lifeline.
- Netherlands vs Morocco scheduled for June 29, 2026
- Match kicks off at 7pm local time (01:00 GMT)
- Morocco is the only African team to reach the semifinals
- Claimed Social Security benefits at age 62, now 76 and still working at Walmart.
- Payroll taxes remain due on earnings despite advanced age.
- Social Security benefits do not exempt workers from payroll tax obligations.
- Capital One 360 Checking: no fees, 0.10% APY, $5,000 daily spend limit, 750 branches and 2,000 in‑network ATMs
- SoFi Checking & Savings: fee‑free, up to $400 cash bonus with direct deposit, 0.10% APY, 55,000 Allpoint ATMs
- Marcus by Goldman Sachs Savings: 3.50% APY, no minimum balance or fees, unlimited withdrawals, no checking account
- Varo Savings: no minimum deposit, interest starts at $0.01 balance, up to 5% APY with qualifying debit purchases
- South Carolina Supreme Court overturned Murdaugh's murder convictions last month.
- New judge scheduled the retrial to begin on April 5 and outlined hearing deadlines.
- Pretrial hearing was largely procedural with little substantive testimony.
- Considering relocation from NYC to Colorado after sister's death
- Assessing cost of storing studio apartment belongings
- Weighing financial impact of the move at age 33
- Police detained parents in Beuvrages following deaths of 15‑month‑old twin girls
- Four other children (ages 3‑6) were hospitalized with non‑life‑threatening dehydration
- Investigation focuses on the circumstances leading to the twins' deaths
- Penelope Keith passed away at her Surrey home at 86 years old
- Family disclosed she had been diagnosed with cancer prior to her death
- She was best known for starring in "The Good Life" and "To the Manor Born"
- Keith won a BAFTA award in 1977 for her role in "The Good Life"
- Police seized about 120kg of cocaine worth HK$90 million (US$11.4 million) from a pleasure boat in Aberdeen.
- Combined with a prior seizure of 241kg worth HK$180 million, total cocaine seized reaches 361kg.
- Both raids targeted yachts moored in the Aberdeen Typhoon Shelter and were carried out by the narcotics bureau.
- The operations occurred days apart, highlighting an ongoing crackdown on drug trafficking in Hong Kong waters.
- Ex-NBA players Malik Beasley and Ed Davis were indicted on federal charges tied to a sports betting scheme.
- Prosecutors allege Beasley deliberately underperformed in a Jan. 26, 2024 game, recording three rebounds versus a 3.5‑rebounds betting line.
- The indictment cites fraudulent wagers totaling tens of thousands of dollars and claims Beasley accepted bribes to settle debts.
- Beasley earned nearly $60 million in his NBA career; Davis earned about $47 million.
- The NBA has not yet issued a public comment on the indictments.
- Heat dome over Austria created unusually hot conditions for the race weekend.
- Red Bull's renovated A1‑Ring, originally built in the 1960s, was shortened by about 1.6 km in the 1990s.
- Max Verstappen and Red Bull showed resurgence, challenging Mercedes' dominance despite pre‑race expectations for Lewis Hamilton.
- Valtteri Bottas holds the circuit's qualifying record at 1:02.939 set in 2020.
- Extended teaser for Wildwood has amassed nearly 90 million YouTube views
- Featurette reveals how the animation team constructed the film's fantasy world
- Wildwood adapts the 2011 novel by Colin Meloy and illustrator Carson Ellis
- A full trailer is expected soon, following the teaser and behind‑the‑scenes clip
- Researchers recorded 140 laughter sequences from humans and four great ape species.
- All species displayed evenly spaced rhythmic intervals, hinting at a common ancestor ~15 million years ago.
- Human laughter was faster, more variable and context‑dependent than ape laughter.
- Sample included 4 chimpanzees, 3 bonobos, 2 gorillas, 4 orangutans and 4 people.
- Results may inform theories on the evolution of speech and vocal control.
- 34-year-old Victor Lee completes training as a heavy transport operator and prepares to move to Lithuania.
- Lee's wife plans to remain in the Philippines to care for their child, relying on video calls for communication.
- The move reflects broader challenges faced by Filipino workers seeking overseas opportunities.
- Patan, a historic city-state, lies about 5 km southeast of Kathmandu
- Sunbaked redbrick homes, gilded temples and public courtyards define the area
- Local bars are crafting cocktails that reflect the city's heritage
- The scene blends traditional architecture with modern mixology
- Echigo Tokimeki Railway will intensify promotion of its Setsugekka resort train to draw visitors from Southeast Asia.
- The train operates between Itoigawa and Joetsumyoko stations, serving ski resort destinations.
- Marketing push aims to increase weekday ridership and tourism revenue in Niigata prefecture.
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