- June nonfarm payrolls grew less than expected, signaling a weaker labor market
- June CPI inflation came in below forecasts, easing price pressures
- Weaker jobs and lower inflation boost demand for Treasuries, pushing yields down
July 4, 2026
▲ 17▼ 13◆ 8– 129
Markets 12
- U.S. stock funds recorded a 17.1% gain in the latest quarter
- Robust IPO activity contributed significantly to fund inflows
- Geopolitical war rally and the latest Fed policy stance bolstered equity performance
- ESMA says prediction‑market event contracts could be classified as derivatives and fall under the EU binary‑options ban
- Retail distribution of such contracts is prohibited; firms need MiFID II authorization even for non‑retail clients
- The ruling could impact platforms like Kalshi and Polymarket, valued at $22 billion, and may invoke national gambling or MiCA oversight
- Analysts flag slower earnings growth amid lingering inflation pressures in the eurozone
- Top-tier banks and industrials are expected to lead any earnings beats this quarter
- Investors will focus on corporate guidance for 2024 profit outlook and dividend policy
- Kalshi posted a record month for trading volume in June, according to DefiLlama data
- The surge is linked to heightened interest from the expanded FIFA World Cup events
- Higher prediction‑market activity highlights growing demand for event‑driven trading platforms
- BTIG forecasts On Holding to rise ~90% to $70 despite a >20% YTD decline
- Palo Alto Networks price target of $380 implies ~9% upside after a ~90% YTD gain
- Capital One Financial target $259 suggests 26% upside from current price
- BTIG expects continued strength in healthcare, financials and industrials, while semi/AI trade may unwind
- Kalshi logged >$31 bn in June, a >70% rise from May's $17.9 bn and >$1 bn daily since June 11.
- Polymarket's international platform hit $10.8 bn in June; its US platform rose to $3.5 bn from $1.77 bn in May.
- Rothera debuted with $2 bn in June, now accounting for 7% of U.S. prediction‑market volume.
- Open interest reached >$1 bn on Kalshi and just under $400 m on Polymarket.
- Betting on a U.S. World Cup win totaled $64 m on Kalshi and $122 m on Polymarket, with odds around 4.3% and 3%.
- KOSPI P/E ratio fell to its lowest point since the global financial crisis of 2008-09
- Weak earnings growth and slowing domestic demand underpin the valuation drop
- Analysts caution that the low valuation may herald continued bearish pressure on South Korean equities
- Russell 2000 up ~22% YTD through June 2024
- Strongest six‑month gain for U.S. small‑cap stocks in decades
- Small‑cap rally outpaces broader market, showing renewed investor appetite
- Tokyo is revising corporate governance regulations to enhance shareholder rights
- Senjin Capital, a Japan‑focused activist fund led by Jamie Halse, remains active in pushing reforms
- Analysts say the drive for corporate change in Japan stays strong despite regulatory tweaks
- Japan's Financial Services Agency has opened a probe into all large shareholding reports filed after May 1
- The investigation focuses on whether shareholders disclose sufficient intent when reporting major stakes in listed firms
- The move follows a rise in activist investor proposals and may tighten reporting rules for big investors
- SET becomes the first Asian exchange to join the Ring the Bell for LGBTIQ+ Equality campaign.
- Sixteen stock exchanges worldwide participated in the initiative marking the International Day Against Homophobia, Biphobia and Transphobia.
- The move supports Thailand's marriage equality law, WorldPride 2030 bid, and highlights a $4.7 trillion global LGBTIQ+ economy.
Macro/Economy 19
- Europe urges faster, cheaper clean‑energy rollout while warning about China’s surplus production of solar panels, wind turbines, batteries and EVs.
- China’s dominance in green‑tech manufacturing fuels debate over ‘overcapacity’ and its impact on global supply chains.
- Bruegel think‑tank paper examines whether increased green‑infrastructure investment can offset China’s clean‑energy overcapacity.
- Founder Michelle Turner built a Medicaid‑focused mental‑health startup with AI, launching Jan 2025 and now employing 16 staff across three states.
- The Federal Reserve’s new review, led by Chair Kevin Warsh, will include a dedicated panel on AI’s impact on productivity, growth, inflation and labor demand.
- Economists say AI cuts startup costs, spurring a rise in new business formations, but also raise concerns of higher structural unemployment and shifting labor shares.
- Data‑center investment tied to AI is boosting power and labor expenses, adding cost pressures to the economy.
- Japan announced a 370 trillion yen ($2.3 trillion) investment plan, its largest ever.
- The plan targets innovation-driven growth to revive "animal spirits" in the economy.
- Growth minister Minoru Kiuchi says the strategy will boost Japan's global competitiveness.
- Q2 2024 GDP expands 8.39% YoY, up from 7.94% in Q1
- First-half 2024 growth totals 8.18%, still below 10% target
- Construction and manufacturing sectors drive the acceleration
- Government maintains a 10% annual growth goal for 2024
- The yen weakened to around 160 per dollar, its weakest level in 39 years.
- Exchange rates have moved from roughly 90 yen per dollar in the late 1990s to 160 today, increasing overseas education costs for Japanese families.
- Japan raised visa fees fivefold to $90 for single-entry and $190 for multiple-entry, yet tourism remains cheap due to the weak yen.
- The government unveiled a 370 trillion‑yen (~$2 trillion) investment plan through 2040, with markets watching for possible yen intervention.
- Party spokesman says Abhisit Vejjajiva never suggested cutting current civil servant pensions.
- Abhisit previously proposed a new pension framework for future civil servants to ease long‑term fiscal burden.
- Democrats criticize government's 400 billion‑baht borrowing, alleging half funds cash‑handout program and the rest supports solar panel and EV imports.
- Party calls for reduced budget spending, higher state revenue and more public‑private partnerships amid fiscal pressures.
- Critiques of Chinese overproduction as a cause of job loss in the US, Europe and Japan are gaining traction.
- Protectionist policies are seen as ineffective at reversing the shift toward service‑oriented economies.
- Structural factors such as automation and skill gaps, rather than Chinese competition, drive manufacturing job declines.
- Policymakers are urged to focus on domestic productivity improvements instead of blaming China.
- Covid‑19 factory shutdowns exposed the fragility of just‑in‑time logistics in Asia.
- Russia’s invasion of Ukraine halted Black Sea grain exports and drove up energy prices.
- The US‑Israel war on Iran is viewed as the final blow to the JIT supply‑chain paradigm.
- Economists say Asian firms will move toward higher inventory buffers and more resilient logistics.
- The shift is expected to raise costs and reshape regional trade patterns.
- Reforms slated for September aim to ease household registration for migrants, but local authorities remain hesitant.
- Wang Ming's family, despite 20 years in Beijing and professional jobs, still lack a hukou, forcing his 12‑year‑old son to travel 120 km for school.
- Persistent hukou gaps limit migrants' access to public healthcare, education, and social benefits, potentially curbing urban labor mobility.
- Hong Kong set a midday Friday deadline for land tenders in the Hung Shui Kiu/Ha Tsuen area.
- The Northern Metropolis development is a large‑scale project bordering mainland China.
- Analysts say a cautious approach to land sales is needed to maintain the recent residential property recovery.
- Singapore’s total fertility rate has fallen to around 1.05 children per woman, well below replacement level
- The share of residents aged 65 and over is projected to exceed 20% by 2035, indicating rapid ageing
- Annual births have slipped below 30,000 in recent years, marking a continued decline
- A shrinking workforce raises concerns for long‑term labour supply and economic growth
- Rapidly rising home prices are straining affordability in major cities such as Ho Chi Minh City
- Authorities are launching pilot projects and incentives to expand the rental housing stock
- Policy shift aims to reshape long‑standing home‑ownership preferences toward renting
- FATF said it will not open a probe into Indonesia's recent financial law changes.
- Civil society coalition warned the law could enable illicit assets to purchase Danantara sovereign wealth fund bonds.
- The decision leaves anti‑money‑laundering concerns unresolved for Indonesia's bond market.
- China's share of Japan's textile product imports dropped below 50% in 2025, the lowest level in 31 years.
- Japanese apparel brands, including Uniqlo, are moving production to Vietnam, Indonesia and other Southeast Asian nations.
- Higher Chinese labor costs and rising geopolitical risk are driving the diversification of supply chains.
- Japan hosts more than 4 million foreign residents.
- Long‑term foreign residents may need to pass Japanese language and manners tests to qualify for permanent residency.
- The new criteria could be incorporated into residency applications as part of integration efforts.
- Founders aged 50 are about twice as likely to achieve business success versus those aged 30
- Success measured by revenue growth, profitability and longevity over a 5‑year span
- Experience, networks and capital access cited as key advantages for older entrepreneurs
- Approximately 70% of startups founded by 30‑year‑olds fail within three years
- AI adoption could add upward pressure on prices in certain sectors
- Economists are split on whether the impact will be short‑lived or persistent
- Potential implications for monetary policy if AI‑related price rises prove lasting
- Chinese visitors report savings of about 500 yuan (≈$70) on a backpack bought in Seoul versus China.
- Duty‑free shops, cosmetics and hair salons dominate a typical 3.5‑day Korean shopping trip for Chinese tourists.
- A weaker Korean won against the yuan makes K‑beauty products appear cheaper, boosting Chinese outbound spending.
- Prices of most food staples fell sharply while the free‑meal program was suspended for the month‑long school holiday.
- The decline is linked to President Prabowo Subianto's flagship meal scheme being on hold.
- Relief for consumers is expected to end when the program resumes later this month.
Central Banks 1
- The yen fell to around ¥152 per dollar, its weakest level since the early 1990s.
- BOJ's latest rate hike of 0.25% to 0.5% still trails the Fed and other major central banks.
- Government intervention provided only brief relief, with the yen down about 2% week‑over‑week.
- Carry‑trade inflows persist, deepening yen depreciation amid expectations of cautious policy.
Energy/Oil 3
- The EU has been the top regional buyer of U.S. LNG for the past two years.
- Europe rejected U.S. LNG shipments last month, citing higher prices.
- The import dip threatens the trade deal framework signed in July that grants preferential treatment to U.S. LNG.
- Russia's planned 2027 ban on LNG imports heightens the strategic importance of U.S. gas supplies to Europe.
- Strategist argues power generation and metal sectors gain appeal versus oil amid Iran tensions
- Oil market faces heightened geopolitical risk, potentially dampening demand
- Metals such as copper and gold seen as safer bets, with expected price support
- Morgan Stanley recommends a defensive tilt in European energy equities amid market volatility
- Analysts upgrade Portuguese oil & gas company Galp Energia to "Buy"
- New price target for Galp raised, reflecting stronger earnings outlook
Gold/Metals 3
- Global gold prices have slumped, weighing on the luxury jewelry sector.
- Laopu Gold shares fell about 60%, outpacing declines of peers.
- The brand's premium appeal is tested by aggressive rivals and lower metal prices.
- Gold prices fall as expectations rise for U.S. Federal Reserve rate hikes
- Retail demand in China and India weakens, leading to net outflows from gold ETFs
- Investors increasingly treat gold as an investment rather than a safe‑haven, accelerating the sell‑off
- Tungsten production resumes in South Korea after a 32-year halt.
- U.S.-based Almonty Industries operates the Yeongwol County mine for export to the US and Japan.
- The revival aims to reduce both South Korea's and Japan's reliance on Chinese tungsten supplies.
Crypto 18
- Blacklisted entities moved roughly $100 bn in crypto during 2025
- The funds supported terrorism financing and weapons procurement
- Crypto channels helped rogue nations bypass international sanctions
- Authorities face growing challenges tracking illicit digital asset flows
- Bitcoin up 1.4% in 24h to over $63,000, highest level in two weeks
- XRP up 5.3% to $1.18, nearly 10% weekly gain, overtakes USDC as fifth‑largest crypto
- Ether rises 3.2% to about $1,793, up 11.5% over the past week
- Rally follows softer U.S. economic data and comments on easing inflation risks
- MiCA, the EU's first comprehensive crypto regulation, is now in the implementation phase.
- Binance pulled its MiCA licence application in Greece after the transition period ended without a decision.
- Fragmented or unpredictable authorisation could harm competition, liquidity and confidence in Europe's crypto market.
- Binance spends over $300 million annually on compliance and has blocked nearly $7 billion in fraudulent transactions.
- FCA unveiled a crypto regulatory framework to preserve global liquidity and permit non‑UK stablecoins
- Authorization will require firms to meet expanded AML, consumer duty and prudential standards, with >85% rejection rate under existing FCA regime
- Uncertainty remains over which overseas jurisdictions meet "comparable regulatory protection" and how DeFi will be treated
- Industry sees the rules as a boost for institutional adoption, but compliance hurdles may deter firms from UK operations
- This cycle attracted about $697 billion of fresh capital and delivered a 689% price gain.
- Prior cycles required far less capital: $2.8 billion for ~55,000% (2011) and $69 billion for ~10,000% (2015).
- Analysts estimate a next parabolic move would need >$1 trillion of new institutional money, but recent Bitcoin ETFs saw record outflows.
- Bitcoin’s market cap is now near $1.2 trillion, making each dollar of inflow generate smaller percentage returns.
- NYLIM sees tokenization as a way to build customized portfolios at scale, beyond current finance
- Stablecoin market exceeds $300 bn, driving demand for institutional tokenized assets that can earn yield
- Citi projects tokenized real‑world assets could grow to $5.5 trn by 2030 from $30 bn today
- NYLIM partners with Centrifuge to bring a high‑yield corporate bond strategy on‑chain
- Institutional DeFi adoption requires more mature infrastructure such as tokenized collateral and clearing
- Kraken now permits select tokenized stocks and ETFs to be used as collateral
- Eligible users can leverage futures and margin positions without selling the tokens
- The feature applies to a limited set of tokenized assets and requires user eligibility
- Expands the range of crypto‑based collateral options for traders
- Binance founder CZ proposes freezing Satoshi's estimated 1.1 million BTC if they remain unmoved for 6‑12 months to pre‑empt quantum attacks.
- Critics say the move would breach Bitcoin's permissionless ethos and doubt a consensus can be reached, citing SegWit’s lengthy adoption.
- Developers suggest alternatives such as phased post‑quantum cryptographic upgrades (BIP‑361) or placing the coins in a legal trust.
- The debate remains theoretical; no consensus on a quantum‑ready protocol or freezing mechanism has been achieved.
- Ethical hackers used a $3,000 server to simulate an attack on Aptos that succeeded over 90% of the time
- The vulnerability could have exposed up to $70 billion of crypto assets across bridges, stablecoins and DeFi
- Around $250 million of Aptos-native TVL was directly at risk, with broader systemic exposure estimated at $70 billion
- The flaw was reported on Feb 25 and patched within hours, preventing any loss
- Bitcoin trades just below $62,000, over 50% down from its October peak.
- AI‑related equities have surged, drawing capital away from crypto per Schwab and Hashdex outlooks.
- Stablecoin transaction volume in H1 2024 already exceeds all of 2025, and tokenized assets are up >60% YTD.
- Bitcoin's production cost for inefficient miners is estimated at $95,000, with average investor cost basis near $80,000.
- Analysts expect Bitcoin's post‑halving recovery to resume, suggesting the current price‑activity disconnect won’t last.
- The TRUMP token is down about 96% from its January 2025 high of ~$75, trading near $1.79.
- Holders of the token collectively lost $3.81 bn, while Trump earned over $1.4 bn from the launch.
- About 85% of WLFI secondary‑market wallets are underwater, with combined losses of $83 mn.
- Early buyers hold $4.04 bn in gains across 492,000 wallets, while later retail investors face losses.
- John Bollinger notes Bitcoin’s recent price strength may complete a “W” reversal pattern.
- Completion of the pattern could break the prevailing downtrend and end the bear market.
- Bollinger suggests the next move could be upward, signaling a bullish shift for BTC.
- Revolut will remove USDT from its platform after August 31, 2024.
- Remaining USDT balances will be automatically converted into each user's base currency.
- The move is driven by regulatory uncertainty and perceived risk associated with the stablecoin.
- XRP price rose ~8% over the past week to about $1.14.
- 30‑day MVRV is around –45% and 365‑day MVRV about –47%, the lowest in XRP history.
- Santiment flags the deep unrealized losses as a potential risk‑reward entry, but cautions price could still fall.
- Bitcoin profit‑loss ratio fell to its lowest point in 43 months.
- Bitwise CIO Matt Hougan said the market bottom is "closer than ever."
- Swan Bitcoin analyst advises buying now at a discount rather than overpaying later.
- Major County Sheriffs of America (MCSA) drops its opposition to the CLARITY Act.
- MCSA still urges amendments to give local law enforcement more resources for illicit finance investigations.
- The move could shape ongoing US crypto regulatory discussions.
- Bitcoin and Ether recovered from multi-year lows, with dip buyers re‑entering the market.
- Spot Bitcoin ETFs recorded a net inflow of $221 million on July 2.
- Renewed ETF buying coincides with a drop in the crypto fear‑and‑greed index, signaling reduced extreme fear.
- Draper says he did not move the 1,000 BTC transferred to Coinbase Prime.
- He reiterates his forecast that Bitcoin could reach $250,000 per coin.
- The prediction comes amid a prolonged bear market for crypto assets.
Geopolitics 40
- Former US president Donald Trump claims he offered assistance to Russian President Vladimir Putin via phone
- Kremlin aide confirms Trump made the offer to help find a Ukraine settlement
- The statement adds a new dimension to US‑Russia‑Ukraine diplomatic dynamics
- Over 10 million people expected to attend the funeral in Tehran
- Representatives from more than 100 countries slated to be present
- Funeral follows Khamenei's death at the start of the US‑Israel war on Iran
- Israel has attacked multiple sites in southern Lebanon, targeting Hezbollah
- Putin and Trump held an 85‑minute phone call on July 4, marking US 250th independence anniversary
- Leaders touched on a Ukrainian settlement and Trump’s participation in the NATO summit in Turkey (July 7‑8)
- Iran was also raised during the conversation, according to Kremlin aide Yuri Ushakov
- The era of unrivaled US dominance post‑World War II is ending.
- China's ascent is identified as a primary force reshaping the global order.
- Other emerging powers are also contributing to a multipolar shift.
- Implications include a need for the US to adapt its foreign‑policy strategy.
- Zelenskiy confirmed a conversation with former President Donald Trump.
- He called on the United States to maintain political and military resolve for Ukraine.
- The appeal comes amid ongoing conflict and diplomatic efforts to end the war.
- Ukrainian strikes have disrupted about one‑third of Russia's oil refining capacity.
- Moscow extended petrol export bans and limited sales in more than 40 regions and Crimea.
- Analysts question whether the fuel shortage will push the Kremlin toward talks with Kyiv.
- Keiko Fujimori secured 50.135% of the vote in the June 7 runoff
- Victory margin was 0.27 points, about 50,000 votes over Roberto Sanchez's 49.865%
- Fujimori will take office on July 28, becoming the 10th president since 2016
- Sanchez has refused to recognize the result and lodged a complaint with the Inter‑American Commission on Human Rights
- Markets reacted positively to the conservative win, citing policy continuity for mining projects
- UK and France will work with Oman, deploying mine‑countermeasure ships and frigates to protect navigation in the Strait of Hormuz
- Oil shipments through the strait have risen, with Saudi Arabia moving about 34 million barrels since June 17, double the prior period
- Benchmark Brent crude prices have fallen roughly 39 % from March highs as supply concerns ease
- Iran warned against the moves, calling them adventurism, while the US‑Iran MoU bars tolls for the next 60 days
- The Gaza war is described as the spark that ignited years of broader Middle East conflict.
- The United States and Iran are currently negotiating peace terms, shifting global attention away from Gaza.
- Palestinian residents report feeling abandoned as international focus centers on the US‑Israeli‑Iran war.
- Pope Francis visited Italy's Lampedusa island, a primary entry point for migrants from Africa.
- The visit aligns with the US July 4 independence anniversary, highlighting migration concerns for US and EU leaders.
- It follows the EU's approval of a new migrant policy two weeks earlier, aimed at tightening asylum rules.
- President Joseph Aoun urges the United States to stand by Lebanon amid renewed Israel‑Hezbollah tensions
- Washington‑backed framework calls for Hezbollah disarmament, phased Israeli withdrawal from southern Lebanon, and deployment of Lebanese army in pilot zones
- Hezbollah has rejected the proposal, refusing the disarmament terms
- The agreement aims to permanently end hostilities following the latest Israel‑Hezbollah war
- White House unveils plan to repeal 702 existing regulations
- Targeted sectors include environment, labor, and financial rules
- Rollbacks form part of a broader deregulatory agenda ahead of elections
- No immediate market impact anticipated
- Kim Jong Un personally observed a cruise missile launch from a naval destroyer.
- The test involved a ship-based missile, marking a new platform for North Korea's arsenal.
- State media reported the exercise, highlighting ongoing weapons development.
- Iran's Supreme Leader Ali Khamenei's funeral entered its second day of processions
- Large numbers of mourners attended despite a sweltering heatwave
- Organizers installed water misters and volunteers handed out cold drinks to attendees
- The United States marked its semiquincentennial (250th anniversary) with traditional July 4 festivities and a planned "world's largest" fireworks display of over 850,000 launches.
- President Donald Trump is slated to speak from the National Mall, framing the event as a political rally ahead of the November midterm elections.
- A White House task force, Freedom 250, is accused by Democrats of diverting resources from the congressionally approved America250 panel and operating outside transparency rules.
- Vice President JD Vance defended the celebrations, urging Americans to ignore criticism and focus on national unity.
- Ukraine confirms control of the strategic eastern city of Kostiantynivka.
- Russian commanders claim the city has been taken and are mopping up remaining resistance.
- Moscow offers to exchange the remains of dead servicemen with Kyiv.
- Russian officials briefed President Putin on the alleged capture on Friday.
- Deputy Security Council chairman Dmitry Medvedev said Iran's control of the Strait of Hormuz equals a nuclear weapon.
- The comment was made in a video posted after Medvedev attended the funeral of Iran's late Supreme Leader Ali Khamenei.
- The statement highlights Russia's view of Iran's strategic leverage over global oil shipments.
- Trump told Axios Netanyahu may travel to the White House as early as next week.
- It would be Netanyahu's seventh US visit since Trump took office in Jan 2025.
- The meeting could be scheduled after the NATO summit in Ankara on July 7-8.
- Relations remain strained over Israel's actions in Iran and Lebanon, despite Trump’s public support.
- Erdogan said Israel must not sabotage the US‑Iran memorandum of understanding.
- He stressed lasting Middle‑East peace requires regional backing, citing Israeli actions in Gaza, Lebanon and Syria.
- US and Iran are holding indirect talks in Qatar under a 60‑day cease‑fire MoU that includes reopening the Strait of Hormuz.
- Erdogan made the remarks in Istanbul alongside Pakistan's Prime Minister Shehbaz Sharif, highlighting regional cooperation.
- German police and demonstrators scuffled as the AfD held its national convention in Erfurt
- The meeting coincides with the 100th anniversary of a 1926 Nazi Party gathering nearby
- AfD rejects any connection to the historic Nazi event
- 7 Palestinians killed by Israeli forces in the last 48 hours
- 9 additional bodies recovered from rubble, bringing total deaths to 16
- 16 people injured in the same period, many still trapped under debris
- Overall Gaza death toll since Oct 2023 rises to 73,090 with 173,550 injured
- Ceasefire violations have caused 1,066 deaths and 3,445 injuries since the truce began
- Erdogan secured President Trump's attendance at the NATO summit in Turkey, citing personal calls.
- Trump hinted at possible sales of F-35 fighter jets and F-110 engines to Turkey, despite a 2019 ban after Turkey bought Russian S-400 systems.
- The State Department moved to bypass congressional opposition for more than $700 million in jet engine sales to Ankara.
- U.S. DOJ recently dropped a major case against Turkey's state‑owned Halkbank, easing sanctions pressure.
- Russian attacks hit Sumy and Kherson, killing four civilians including a five-year-old child and her mother.
- Guided bombs ignited a large fire at a poultry farm in Kherson, with firefighters battling flames under threat of further strikes.
- The incidents highlight continued escalation in the Russia-Ukraine conflict.
- Physician density is just 0.1 per 1,000 people, versus a regional average of 1.1.
- 18% of Yemen's districts have no doctors at all, per WHO data.
- Around 41% of medical staff in Taiz have been displaced or left the country.
- An estimated 20 million Yemenis, about half the population, lack basic medical care.
- Low, irregular salaries are a primary driver of health‑worker migration.
- China rotated a new coastguard task force into waters east of Taiwan, marking the second deployment in about a month.
- The move follows a warning from China's top diplomat urging Washington to exercise utmost prudence on Taiwan.
- It coincides with high-level talks with the Philippines, where Beijing pressed Manila to match words with deeds amid South China Sea tensions.
- Beijing forum urges middle powers to hedge bets instead of aligning with the US or China.
- Commentary echoes Canadian PM Mark Carney's Davos remarks on uniting against a rupture in the world order.
- Tsinghua University's World Peace Forum calls for diversified partnerships among middle powers.
- Chinese companies run, finance or hold stakes in roughly one‑third of Africa’s ports.
- Beijing provides the software, automation and AI systems that manage port operations.
- Chinese investment also covers road, rail and warehousing networks linked to the ports, tying African trade to Chinese platforms.
- Thousands of demonstrators blocked roads in Erfurt during AfD's annual conference
- Police deployed large numbers, including reinforcements from across Germany
- AfD re‑elected its two leaders, consolidating control as the party grows nationally
- Protesters included unions, civil‑society groups and left‑wing parties
- Over several thousand mourners assembled at Tehran's Grand Mosalla on Saturday.
- Funeral rites are slated to continue for roughly a week.
- Iranian authorities intend the ceremonies to convey defiance toward the United States and Israel.
- Ali Khamenei has led Iran since 1989.
- Andrew Wan, former Democratic Party lawmaker, completed his jail term for subversion.
- He was released from Stanley Prison on Saturday morning and taken away in a police‑arranged seven‑seater vehicle.
- Wan posted a social‑media photo thanking supporters, noting he appears slimmer after his incarceration.
- Washington is expanding its containment approach to include denial of key commodities such as Greenland seafood to China.
- The move aligns with a broader U.S. effort to redirect supply chains and revive domestic industries.
- President Trump's interest in acquiring Greenland is framed as part of this security‑economic strategy.
- Targeting seafood underscores the emphasis on restricting China's access to frontier resources.
- Former Australian PM Kevin Rudd calls on Japan and other middle powers to collectively preserve the global rules‑based order.
- He notes that ten middle powers together have a combined GDP larger than that of the United States.
- Rudd emphasizes the need for collective self‑confidence to fill the vacuum left by a retreating US role.
- The United States celebrates its 250th independence anniversary on Saturday.
- President Donald Trump warns that American identity faces a "renewed attack."
- A severe heatwave places about 160 million people under major or extreme heat warnings.
- Storms prompted an evacuation order for the National Mall on Saturday evening
- The evacuation coincided with President Trump's scheduled July 4 Independence Day speech
- Visitors were directed to nearby federal buildings or Smithsonian museums
- Organizers said updates on programming and fireworks will be provided later
- Vance says Britain needs political change
- He pledges support for the next prime minister
- Comments could shape UK political outlook and investor sentiment
- Former President Donald Trump will host a rally on the National Mall to mark the United States' 250th anniversary.
- The event is described as a campaign-style gathering, echoing previous political rallies.
- The rally is scheduled around the upcoming July 4th celebrations, though exact timing has not been disclosed.
- Cleanup teams cleared rubble and reopened streets in Nabatieh
- Ambulance crews, civil defense, scouts, municipal workers and residents participated
- Recovery follows extensive destruction from the Israeli war on Lebanon
- Tensions in southern Lebanon remain ongoing
- Legislative Council member William Wong Kam-fai resigned after being arrested on suspicion of drink‑driving.
- President Starry Lee Wai-king publicly addressed the incident, urging all legislators to uphold higher standards of conduct.
- Lee emphasized the need for members to meet society's expectations and act with greater rigor.
- The resignation is presented as an acceptance of responsibility for the alleged offence.
- Hundreds of Chinese nationals were evacuated from Sudan by the PLA Navy
- The operation was carried out by guided‑missile destroyer Nanning and frigate Hengyang
- The ships are on a five‑day port call marking the 29th anniversary of Hong Kong’s return
- The United States commemorates its 250th year of independence.
- Gen Z Chinese-Americans are navigating dual identities in a shifting US‑China relationship.
- Rising geopolitical tension between the US and China influences cultural and career choices of young Asian-Americans.
Tech/AI 10
- China plans to sell powerful robots that locate buried marine cables to overseas clients
- Target markets include Southeast Asia, the Middle East and Europe
- Export aims to strengthen China's position in the global marine equipment sector
- QTS Realty Trust withdrew its appeal to the Virginia Supreme Court on July 2, ending a three‑year legal battle.
- The proposed Prince William Digital Gateway would have covered 2,100 acres with 37 buildings and 22 million sq ft of data center space.
- The project was estimated at $100 billion, the largest data center proposal in U.S. history.
- Cancellation means the site near Manassas National Battlefield Park will not be developed as planned.
- Midjourney asks court to overturn a limit that only forces studios to disclose AI use for consumer‑facing videos and images
- Disney, Universal and Warner Bros. sued Midjourney over alleged infringement of characters such as Bart Simpson and Darth Vader
- Startup argues that studios' internal AI tools for storyboarding would prove industry‑wide training on unlicensed copyrighted content
- Alibaba will prohibit staff from accessing Anthropic's Claude Code starting July 10.
- Anthropic already restricts Chinese firms from its models and is tightening loophole controls.
- Claude Code is deemed high‑risk software; employees are directed to use Alibaba's Qoder platform.
- ARR rose to >$400 million in Feb, up from $20 million a year earlier, targeting $1 billion this year
- Company reportedly raising $3.5 billion at a $23.15 billion valuation, nearly doubling its prior value
- Secured €15 million investment and Azure partnership with Microsoft; announced €4 billion plan for data centers in France and Sweden
- Acquired Koyeb to build an AI cloud and plans to release an open‑weight model in July
- New executive hires include CFO Johan Bergqvist and CMO Brian Hall to support growth
- 61-year-old chemist Omar Yaghi, 2023 Nobel laureate, leaves the US for Tsinghua University
- Will head a new AI-driven centre focused on rapid design and synthesis of new materials
- Centre aims to shorten material development cycles by orders of magnitude using AI
- Chip models complex brain structures in real time, delivering up to 478× speed over Nvidia A100 GPU
- Created by Peking University and Chinese Academy of Sciences; results published in Science
- Promised uses include faster Alzheimer’s diagnostics, enhanced brain‑machine interfaces, and surgical assistance
- Macron secured SoftBank's commitment to build up to 3.1 GW of AI data centers in France under a €75 billion program
- Modi announced Amazon's $48 billion investment in India, with $21 billion earmarked for AI and cloud infrastructure
- Microsoft, Google and Intel pledged multi‑billion‑dollar projects to develop AI infrastructure and semiconductor capabilities in India
- India offered long‑term tax incentives to attract hyperscaler AI data centers
- Rising sea temperatures have caused extensive bleaching of Maldives reefs, threatening tourism.
- Luxury resorts are funding reef‑restoration projects, including experimental 3D‑printed coral structures.
- Early trials aim to assess whether artificial reefs can accelerate natural recovery and protect shorelines.
- The commercial shows Thomas Jefferson using Google Docs, Calendar and Meet, with AI‑generated visuals and Gemini assistance.
- Google downplays AI's role compared to earlier ads, focusing on a tongue‑in‑cheek historical fantasy.
- Social media response is split: YouTube and Instagram viewers are mostly positive, while Bluesky users criticize the ad as tone‑deaf and AI‑heavy.
Companies 10
- Continental AG agreed to divest its ContiTech division for $4.6 bn.
- The buyer is Lone Star Funds, a private‑equity firm.
- The sale aims to sharpen Continental's focus on its core automotive business.
- Next plc has announced plans to launch a takeover bid for luxury retailer Harvey Nichols
- Bid amount and financing details have not been disclosed
- Deal requires approval from Harvey Nichols shareholders and regulatory clearance
- Transaction could expand Next's presence in the high‑end fashion segment
- SK Hynix may pay banks a fee equal to about 0.5% of ADR proceeds.
- The company could issue up to 2.5% of its outstanding shares in the U.S. listing.
- ADR book building starts July 6, with price set July 9 ahead of Nasdaq debut on July 10.
- The offering aims to raise up to $29.4 billion, one of the largest global listings.
- Kioxia started shipping its 10th-generation memory chips.
- Technological lead over Samsung and SK Hynix fell from roughly 2 years to about 1 year.
- Expansion of the Iwate plant underpins the new product rollout.
- The new "Trump Accounts" platform is set to debut on July 4, marking the United States' 250th Independence Day celebrations.
- The launch is positioned as a direct competitor to existing social media services, targeting supporters of former President Donald Trump.
- The rollout coincides with heightened political activity ahead of the upcoming midterm elections.
- Former co-owner alleges he was pushed out after violating his own return-to-office rules
- Company cited the policy as justification for his dismissal
- Internal dispute highlights governance tensions within the asset-management firm
- Three Sheep Network, suspended for two years over fake Hong Kong mooncake sales, is back offering live‑streaming courses.
- The agency's top influencer Zhang Qingyan (Crazy Younger Brother Yang) now has about 95 million followers, down from over 100 million pre‑suspension.
- The move comes despite a recent Chinese government ban on live‑streaming content.
- Keisei Electric Railway is developing a surcharged limited‑express line linking Narita and Haneda airports.
- The service is targeted for the 2030s and will connect Haneda with Shinagawa Station.
- The new express aims to ease transfers between Japan’s two busiest airports and steer inbound tourists to regional destinations.
- It will complement the existing Skyliner high‑speed train that links Ueno Station to Narita Airport.
- Jain leads nonprofit SCAN Group and SCAN Health Plan, overseeing health insurance operations
- He previously served as president/CEO of CareMore Health and Aspire Health, and as CMO/innovation officer at Merck
- Jain highlights a strong pool of talented minorities in mid‑level corporate roles but notes barriers to senior leadership
- Retired after more than 20 years as a partner at KPMG.
- Appointed board director at TWFG Insurance and Valvoline.
- Serves on multiple boards, recently including Lucid Motors.
- Frequent speaker on corporate governance, cyber risk and AI.
Thai Markets 2
- Companies at risk of nominee arrangements rose from 523 in 1998 to 11,746 in 2025
- 119,297 firms with 0.01%‑49.99% foreign ownership are deemed vulnerable as of June 23
- New screening reduced newly‑registered at‑risk firms by over 65% Jan‑May 2024 vs prior year
- 14,800 cases referred to Revenue Dept, 17,500 to Lands Dept, and 2,700 to police task forces
- Stricter registration measures slated to start on Aug 1 after public consultation
- Community collection centres launched in Ratchaburi to stabilise aromatic coconut prices amid oversupply of ~2 million coconuts per day
- Internal Trade Department to buy at leading‑market prices; private sector already purchased >10 million coconuts
- Jan‑May 2026 coconut exports rose 9.18% to 533,353 tonnes, valued at US$568.07 million
- 56,522 farming households in 2025 produced 877,681 tonnes of aromatic coconuts, a 49.8% increase YoY
- Pilot model slated for expansion to Samut Songkhram, Samut Sakhon and Nakhon Pathom
Other 49
- Official death toll reached 2,954, up by more than 300 since Friday
- Twin quakes struck on June 24, leaving thousands homeless
- Tens of thousands remain missing as rescue teams scale down operations
- International aid teams are winding down search efforts
- June 24 twin quakes (7.2 and 7.5 magnitude) in La Guaira killed nearly 3,000 people
- Families and volunteers are battling to recover bodies from collapsed OPP housing towers
- Interim president Delcy Rodríguez pledged identification of all bodies and no mass graves
- Mexican soldiers and forensic teams use drills, pliers, fingerprints and photos to retrieve remains
- Biofuel interest surged in 2024 amid post‑COVID green transition push
- Demand for biofuels slipped in 2025 as several companies scaled back projects
- Asian nations are now prioritising biofuels to offset possible Middle East oil shortages
- Biden administration set ambitious offshore wind goals and allocated federal funding.
- Trump administration reversed those goals and publicly opposed offshore wind projects.
- Congressional hearings and federal court rulings are challenging the restrictions, keeping wind development momentum.
- SHERLOC UV Raman spectrometer detected complex carbon on the surface of a rock at the Bright Angel outcrop.
- The finding represents the shallowest detection of organic matter on Mars to date.
- Carbon appears as macromolecular material, which on Earth often indicates a biological origin.
- Scientists say further analysis, possibly via sample return, is needed to determine its source.
- UNESCO draft decision maintains the reef’s World Heritage status, avoiding an endangered listing
- The Great Barrier Reef stretches 2,300 km (1,426 miles) along Queensland’s coast
- UN reports ‘utmost concern’ over mass coral bleaching and climate‑change impacts
- Policymakers consider adopting child social‑media limits similar to Australia and the UK.
- Parents report varied experiences, including a 10,000‑baht digital item scam and differing screen‑time rules.
- Some families enforce app limits (e.g., Instagram 40 min, TikTok 30 min) and stress early habit building.
- Many parents argue regulation cannot replace consistent parenting and doubt school bans will be effective.
- An 11-year-old boy with autism drove a pickup truck and collided with a procession of 10 monks, killing all.
- The crash has prompted calls for stricter under‑age driving laws and greater parental liability in Thailand.
- Thai law bars criminal punishment for children under 12, so the case will focus on civil liability and welfare measures.
- The Ministry of Social Development placed the boy under its care as a category‑7 person with disabilities.
- Former House Speaker Nancy Pelosi's husband, Paul Pelosi, faces a hit-and-run charge.
- The incident occurred in California where he allegedly struck a parked vehicle.
- Law enforcement officials confirmed the charge and are investigating the case.
- CAAT mandates all Thai airlines to ban crew from carrying third‑party goods and set item size/weight limits
- Regulation follows arrest of a Thai Airways flight attendant with over 1 kg of heroin (≈11.5 million baht) at Melbourne Airport
- Airlines must implement risk‑management systems, random baggage checks, crew training and face licence suspension for non‑compliance
- Authorities have arrested two additional suspects linked to the drug network, including a 47‑year‑old man delivering the parcel
- Violations may attract 4‑15 years imprisonment and fines up to 300,000 baht
- 55 provinces across Thailand placed on alert for heavy to very heavy rain from Saturday to Monday.
- Rain forecast for 17 northern, 15 northeastern, 15 central and 8 southern provinces, with some areas expecting >90 mm in 24 hrs.
- Waves of 2–3 m (potentially >3 m in thundershowers) expected off Ranong, Phangnga, Phuket and Krabi.
- Authorities will monitor water levels, deploy emergency teams, speed drainage and ready shelters; tourists warned and waterfalls/caves may close.
- Around 150 pilgrims from Pattani, Yala and Narathiwat were scammed in an Umrah tour fraud.
- Total losses are estimated at 3.7 million baht.
- Each pilgrim paid 25,000 baht for a package advertised at 45,000 baht.
- Authorities detained suspects and the Consumer Protection Board is investigating.
- United States commemorates the 250th anniversary of the Declaration of Independence.
- Marc Lamont Hill and civil‑rights scholar Kimberle Crenshaw discuss perceived backsliding on civil‑rights gains.
- The interview highlights growing political polarization, resurging racism and renewed attacks on civil‑rights protections.
- At least 20 people confirmed dead after the boat sank in the confluence of the Sankuru and Kasai rivers.
- Witnesses say the wooden vessel was overloaded, possibly carrying over 200 passengers.
- Around 80 survivors were rescued; poor safety standards and overcrowding are common causes of such accidents in the DRC.
- Federal regulation requires insurers to pass roof repair expenses onto policyholders
- Homeowners may face higher out‑of‑pocket costs or premium increases for roof damage
- Rule takes effect just before peak hail and hurricane season, raising timing concerns
- Insurers aim to limit claim spikes by moving repair costs to customers
- Author has worked with over 5,000 families as a preschool teacher and child development specialist
- Recommends using the "Say What You Mean" principle instead of rhetorical questions to reduce shame and defensiveness
- Suggests direct statements for non‑negotiable tasks to avoid power struggles and improve cooperation
- Japan commits 465 million yen (≈US$3 million) to Kazakhstan for Caspian Sea water‑level projects
- Funding is provided through a partnership with the UN Development Programme (UNDP)
- Goal is to promote cooperation among Caspian littoral states and improve water‑resource monitoring
- The initiative targets sustainable use of the world’s largest inland water body amid climate‑change impacts
- Father chose to die at home, surrounded by family and music, underscoring the role of environment in hospice care
- Nurse Caty Hollis joined Marie Curie hospice in 2003 to focus on comfort rather than curative treatment
- Music and family interaction can lessen grief and conflict, even when patients are unresponsive in the final 24‑48 hours
- Hospice support helped reconcile estranged sisters, allowing a peaceful final period for their mother
- Shift from clinical interventions to emotional wellbeing leads to calmer end-of-life experiences
- June heatwave recorded as the most intense on record across Europe
- Italy's Pavia province, the country's key rice-growing area, faces extreme dryness
- Farmers say most rice paddies are already lost, with little hope of recovery even with later rain
- Chih-Ying Su, a Taiwan‑born neurobiologist specializing in olfactory research, left her faculty vice‑chair role at UC San Diego.
- She joined the Shenzhen Academy of Medical Sciences (SMART) as a full‑time senior investigator, with the appointment confirmed on July 2.
- Su's lab focuses on how olfactory receptor neurons process odor information in fruit flies and mosquitoes.
- The move highlights continued talent migration from the United States to China in the biotech sector.
- President Trump will host a rally on the National Mall as part of the July 4 250th‑anniversary celebrations
- Freedom 250 group has fenced off about 1.5 mi of the Mall for a “Great American State Fair” event
- Reuters/Ipsos poll shows three‑quarters of Democrats and half of Republicans say the anniversary events have become too political
- Security will be heightened and temperatures could exceed 100 °F (38 °C) during the festivities
- Several Democratic‑led states declined to send delegations, and many scheduled performers have withdrawn
- A TikTok message on June 18 asked a Thai flight attendant about "carry‑for‑hire" rates to Australia.
- The 30‑year‑old regional carrier crew member ignored the request.
- A Thai Airways flight attendant was later charged with smuggling over 1 kg (2.2 lb) of heroin into Australia.
- Authorities warn social‑media platforms are being exploited for drug‑trafficking recruitment.
- Secretary for Development Bernadette Linn praised a consortium of property developers and industry operators for the Northern Metropolis pilot
- The consortium is described as diversified, reflecting the government's aim to pair developers with operators
- Only two bids were received for the Hung Shui Kiu project when the tender closed
- Henderson Land Development submitted a standalone bid
- The pilot aims to advance development of the Northern Metropolis area
- Two wet‑lab buildings in the Hetao innovation hub were fully leased in the first phase.
- The hub is part of the Northern Metropolis megaproject targeting cross‑border R&D growth.
- Over 50% of the tenant companies are from mainland China.
- Leasing activity signals strong demand for laboratory space in the Hong Kong‑Shenzhen corridor.
- Dozens of parades, concerts and fireworks displays cancelled or postponed in Washington and other cities
- High temperatures forced officials to halt the Great American State Fair on the National Mall
- Power grids in the region faced increased strain as demand spiked amid the heatwave
- Emergency measures considered to prevent outages during the prolonged hot spell
- Researchers observed a shorter snout, darker coloration, and a longer dorsal fin spine in the specimen
- The shark was found near Cabo Blanco and Cano Island in Costa Rica's Pacific waters
- Genetic analysis suggests the fish represents a distinct species not previously recorded along the Central American coast
- Seasonal hotel rates in Niseko can drop more than 10-fold during the off‑season.
- Town aims to attract fans of the "Ghost of Yotei" video game to visit in summer.
- Promotion seeks to narrow the tourism gap between winter and summer seasons.
- Jenny Ming was CEO of Rothy's and founding president of Old Navy
- She currently sits on the boards of Levi Strauss & Co., Kaiser Foundation Hospital, Rothy's and Gorilla Commerce
- Previously she served on the boards of Poshmark, Affirm, Kendra Scott and Paper Source
- Ming says Asians need to broaden perceptions of their capabilities in business
- Canada faced Morocco in a Group stage match of the 2026 FIFA World Cup.
- The live page has been closed; a written summary is available via a link.
- No detailed match statistics or outcomes are provided in the article.
- France secured a 1-0 victory over Paraguay
- Match took place on 4 July 2026
- Result advances France to the tournament's quarterfinals
- Taylor Swift and NFL star Travis Kelce were married at Madison Square Garden, officiated by Adam Sandler
- More than 1,000 guests, including celebrities like Jennifer Lopez and Ed Sheeran, attended the celebration
- The couple announced a $26 million charitable donation made that week
- Temperatures at the venue topped 100 °F (38 °C) during the event
- Get‑in price peaked near $4,000 on June 1, then dropped to $1,549 on Tuesday (≈30% decline)
- Prices rebounded to $1,635 by Saturday evening, still 32% lower than three days earlier
- USA‑Belgium ticket now ranks second highest among eight round‑of‑16 matches at $1,635, behind Mexico‑England at $3,574
- Friend housed homeless man rent-free for 10 years while he helped with health-related tasks
- Caretaker now wants to end the arrangement and evict the long‑term resident
- Eviction may involve complex legal steps after a decade of informal tenancy
- Interactive feature examines the Native American roots of 50 U.S. geographic names
- Shows original pronunciations and meanings from Indigenous languages
- Spans locations from Alabama to Yosemite, illustrating nationwide impact
- Ex-wife Bunnie Xo will gain full ownership of the Tennessee compound
- Divorce settlement includes a $6 million estate valuation
- Details of the settlement were disclosed publicly
- Supergirl opened to a disappointing box office, far below studio expectations
- Critics find the film decent but not great, citing an oversaturated superhero market
- The movie is part of DCU's "Gods and Monsters" phase, scripted by Ana Nogueira and directed by Craig Gillespie
- Collision occurred at about 6:47 pm on Saturday on Hiram’s Highway near Pak Sha Terrace
- Taxi driver, 64, was trapped, became unconscious and later died in hospital
- Two bus passengers sustained injuries and were taken for medical care
- The taxi crossed the centre line and struck the front of a KMB route 92 bus bound for Clear Water Bay
- Police attempted to stop a suspicious car on Wah Fu Road at 4:57 pm Saturday.
- Driver fled, leading a chase through the Aberdeen Tunnel toward Causeway Bay.
- Crash involved five vehicles at about 5:35 pm, leaving one person injured.
- Driver arrested on suspicion of dangerous driving and trafficking dangerous drugs.
- Approximately 300 teachers recruited for the new medical school.
- Current annual student intake is 50, with a target of more than 200.
- A teaching hospital for internships and clinical training has been identified.
- Professor King Li King-chuen serves as the founding dean of medicine.
- A 27-year-old diver was struck by a small boat propeller at Little Palm Beach, Clear Water Bay.
- The diver sustained serious facial injuries and was taken to Queen Elizabeth Hospital.
- Police arrested the boat's instructor following the incident.
- A separate windsurfing board collision injured a woman at the same beach.
- Researchers estimate up to 22% of people live with smell impairments such as anosmia or hyposmia.
- Conditions like phantosmia cause phantom smells, while parosmia makes pleasant scents smell foul.
- Diagnosis is often delayed, leaving patients months without a clear explanation.
- The disorders are underdiagnosed and poorly understood by many clinicians.
- A 16-year-old boy is in critical condition after falling through a classroom window.
- Police suspect a brain haemorrhage caused by the fall.
- The incident occurred the day before, prompting concern from Hong Kong's Education Bureau.
- The school will offer support to the boy's family and other students.
- Government-appointed administrator will convene an extraordinary general meeting on July 19
- Meeting will be broadcast live across four locations for owners of Wang Fuk Court
- The building was the site of Hong Kong's deadliest blaze, which killed 168 people and displaced nearly 5,000 residents
- Life-size robotic elephants, built from fiberglass, iron and rubber, feature moving ears, tails and water‑spraying trunks
- They are intended to replace live elephants in Hindu temple rituals
- Animal‑welfare groups welcome the change, citing reduced cruelty
- Some devotees oppose the robots, arguing they lack spiritual authenticity
- Advocates seek changes to laws to better cover prolonged child sexual abuse cases
- Survivors describe living in constant fear and having to hide from abusers at home
- Current legal framework seen as insufficient to protect victims and prosecute offenders
- Hong Kong Observatory lifted the amber rainstorm warning at 2 pm on Saturday
- The warning replaced a standby typhoon signal with a strong monsoon signal at 3:21 am
- Strong winds, swells and heavy showers are forecast to continue until mid‑next week
- Sepang hosted the Malaysian Grand Prix for 19 seasons, from 1999 to 2017.
- Government withdrew support for the F1 race in 2017, ending the event.
- Local drivers are now pursuing racing careers overseas in a post‑F1 era.
- Ananth Subramaniam presents his second consecutive Cannes film in 2026.
- The short film shown is titled "Holy Crowd".
- It follows his award‑winning 2025 short "Bleat!".
- In 2020, investor Dave Lu called out the stereotype that Asian Americans are praised for tech expertise but overlooked as future business leaders.
- Asian American groups are urging venture capitalists to consider them for leadership and entrepreneurial roles.
- The call for wider representation aligns with nationwide celebrations of the United States' 250th anniversary.
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