- Dow Jones fell 576.8 points (1.09%) to 52,348.4 amid rising Middle‑East tensions
- Brent crude rose 5.43% to $78.19/bbl and WTI up 4.37% to $73.52/bbl
- Energy stocks gained (ConocoPhillips +2%, Chevron +1%, Marathon +5%) while consumer stocks fell (Home Depot -2%, McDonald’s -1%)
- President Trump declared the Iran ceasefire "over" and threatened further attacks, heightening geopolitical risk
- Fed minutes showed split views on rate path, but market reaction was muted
July 8, 2026
▲ 51▼ 53◆ 13– 172
Markets 31
- DXY hovered around 101.00 after FOMC minutes showed unanimous decision to keep rates unchanged.
- EUR/USD rose to ~1.1430 and GBP/USD climbed above 1.3400 amid broader USD weakness.
- USD/JPY held near multi‑decade high of 162.5; WTI crude rose to $74.20, nearing $75.73.
- Gold slipped toward $4,080 as Treasury yields rose and Fed tightening risks persisted.
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- President Trump announced the ceasefire with Iran has ended, raising geopolitical tension.
- S&P 500 fell about 0.5% as investors reacted to the news.
- Dow Jones and Nasdaq each slipped roughly 0.4% to 0.6% amid risk aversion.
- The decline underscores market sensitivity to potential US-Iran conflict.
- WTI crude jumped to $74 per barrel from $70
- Brent crude rose to around $78 per barrel
- 10-year Treasury yield rose to about 4.58%, near its May high
- Materials, consumer discretionary and financials were the worst-performing sectors; AI stocks, led by Nvidia, gained
- Nvidia traded at 16.5x FY2027 EPS estimates after reports of potential H200 chip sales to China
- USD/JPY trades around 162.53, holding above the 20‑SMA (162.06) and 100‑SMA (161.63)
- Near‑term support at 162.47 with additional demand at 162.34 and 162.08; resistance at 162.70
- Yen pressure intensified after Trump said the Iran memorandum is “over,” boosting safe‑haven demand for the dollar
- Traders eye the upcoming FOMC minutes for clues on US rate stance, which could keep the dollar strong
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- Dow futures down 56 points (‑0.1%), S&P 500 futures down 0.1%, Nasdaq 100 futures down 0.2%
- WTI crude up roughly 1% after new US strikes on Iran
- Dow fell 1.1% (‑576.76 points) and S&P 500 dropped 0.28% in regular trading; Nasdaq rose 0.2% on Nvidia gains
- Higher oil prices raise inflation concerns, potentially keeping Fed rates elevated
- Watch Thursday jobless claims, existing home sales and PepsiCo earnings
- Dollar strength reaches its highest bullish sentiment in ten years
- Wednesday’s oil price surge (WTI/Brent) fuels inflation worries
- Renewed Middle East tensions raise expectations the Fed will keep policy tight
- Market participants view a stronger dollar as likely to continue
- 10-year Treasury yield climbed sharply amid renewed hostilities in the Middle East
- Escalating conflict revived inflation worries, pushing yields higher
- Higher yields tighten financial conditions for equities and mortgage markets
- Yen depreciates over 0.26% versus USD, with USD/JPY trading at 162.54 after a low near 162.03
- A break above 162.84 could open the path to 163.00 and then 165.00 levels
- US 10-year Treasury yield rises 1.5 bps to 4.569%, supporting the dollar
- Money markets price an 18% chance of a 50‑bp rate hike and a 52% chance of a 25‑bp hike at the September Fed meeting
- DXY hovered near 101.00, trading in a 100.95‑101.27 range after the June FOMC minutes
- Fed dot‑plot shows 9 of 18 participants now expect at least one rate hike by year‑end
- Market pricing assigns roughly a 33% chance of a July hike and targets 101.50 if 101.27 breaks
- Staff estimates put headline PCE inflation at 4.1% in May, keeping upside risks to price stability
- Technical support at 100.95; a break below could push the index toward 100.50
- OASI trust fund projected to run out in Q4 2032, with only 78% of benefits payable.
- Annual shortfall could grow from $600 billion in 2033 to about $700 billion by 2036.
- Without reform, Treasury borrowing may need to increase by over $600 billion annually, pushing yields higher.
- Higher deficits could raise borrowing costs across the economy and erode confidence in U.S. debt.
- DXY trades mixed, edging lower despite brief support from Iran ceasefire comments
- Brent crude jumps about 6% amid renewed Iran tensions and falling global equities
- Markets have priced 37 bps of Fed tightening by December, which strategists deem excessive after June's hawkish pivot
- Risk appetite deteriorates as stocks slump sharply, raising concerns over further geopolitical escalation
- Retail rental rates remain well below pre‑pandemic levels
- Beijing's crackdown on capital flight adds uncertainty to the sector
- Analysts flag a possible US Fed rate hike in the second half of the year as a further risk
- Cramer cites a flood of new equity and debt, including Alphabet's stock sale, SpaceX's $85 bn IPO and $25 bn bond, and Amazon debt offerings.
- He flags discounted Rivian share sale and SK Hynix's planned $28 bn Nasdaq listing as signs demand may be hitting limits.
- Despite a rebound in Nvidia after AI chip news, Cramer cautions continued oversupply could suffocate the bull market.
- USD/TWD broke the 32.00 barrier, trading near 32.10
- Weakness driven by foreign equity selling and dividend/remittance flows, not domestic fundamentals
- Central Bank asked banks to complete large USD sell orders same day to boost supply and limit TWD depreciation
- Technical resistance at 32.22 (76.4% fib) and 32.50‑32.60; support at 31.95 and 31.76 (21‑day MA)
- RSI in overbought zone suggests upside risk but also potential snapback
- AUD/USD remains flat between 0.6900 and 0.6950, forming a doji candle.
- Fed FOMC minutes show a near‑even split (9 hikes vs 8 holds) keeping the dollar strong.
- RBA holds cash rate at 4.35% after three hikes this year, limiting AUD rate differential.
- Chinese CPI due at 01:30 GMT is forecast at 1.1% YoY (down from 1.2%), with PPI expected at 4.1%.
- Technical bias stays bearish; a close below 0.6900 could push the pair toward 0.6850.
- GBP/USD trades just below 1.3400, up about 0.25% and hovering around the 200‑day EMA
- Markets now price a 25‑basis‑point BoE rate hike by year‑end, with November odds above 50%
- Crude oil up over 6% on Middle‑East tensions, boosting expectations of tighter UK monetary policy
- USD/CHF failed to hold above 0.8100, sliding to around 0.8078.
- RSI stays bullish but shows fading momentum; key support at 0.8000, 50‑day SMA 0.7934, 200‑day SMA 0.7915.
- Further downside targets 0.8000 then 0.7934/0.7915; upside needs a break above 0.8108 and 0.8120.
- KRW is estimated to be about 11% undervalued versus the real effective exchange rate trend
- Bank of Korea is expected to start raising rates at its July 16 meeting
- A 24‑hour on‑shore KRW market launched, with a won internationalisation roadmap to be unveiled end‑July
- Korean equities underperformed, cutting foreign rebalancing outflows and supporting the KRW rally
- Fed minutes show rates held steady with potential hikes; 10‑year Treasury yield at 4.59%
- High‑yield fund FHQRX offers a 5.72% 30‑day SEC yield but sits in the bottom YTD quartile
- Desai advises active high‑yield, structured credit and private credit for income, avoiding index exposure
- Emerging‑market and non‑US developed‑market duration funds are favored amid slower growth
- Yield curve in "bear flattening" as short‑term rates rise faster than long‑term
- President Trump announced the Iran ceasefire is over
- Major US stock indices opened lower on the news
- Dow Jones, S&P 500 and Nasdaq all slipped
- EUR/GBP fell to 0.8519, its lowest level in 12 months, after seven declines in eight sessions
- Markets now price a near‑certain Bank of England rate hike by year‑end, up from ~70% to 100% in a week
- ECB hawkish rhetoric failed to lift the euro; pricing for a September hike has slipped to around 50%
- Policy gap between BoE and ECB sits near 150 basis points in favour of the pound
- Technical resistance at 0.8555 and support at 0.8519; next targets are 0.8600 and 0.8500
- Most Asian currencies have weakened against the USD since the June 18 FOMC meeting.
- Indonesia's rupiah volatility eased after Bank Indonesia's rate hikes and higher SRBI yields, but remains sensitive to US yields.
- Malaysia's ringgit stability aided by BNM's repatriation push, though election risk ahead of the July 11 state vote may add a modest premium.
- Thailand's baht likely to stay flat as BOT keeps policy rate at 1.0% amid 2.4% YoY inflation and deteriorating NPL ratios.
- Philippines peso faces headwinds with inflation above 6% YoY and slower growth; BSP likely to tighten further.
- Manheim Used Vehicle Value Index for EVs jumped 12% in July vs June 2025, versus 1.7% for non‑EVs.
- Average used EV price reached $30,400, up 11.5% YTD; non‑EVs rose <1% to $19,125.
- Used EV sales in May hit 42,923 units, +5.5% MoM and +24.7% YoY; EVs hold 2.8% market share.
- National average gasoline price at $3.80/gal, about 21% higher than a year ago, fueling EV demand.
- Off‑lease EV supply expected to increase later 2024, which could temper price gains if gas prices fall.
- CAD/USD at ~1.4190, up 0.10% on the day, buoyed by a sharp oil price rally
- Oil prices climb on renewed Middle East tensions, with the Strait of Hormuz carrying roughly 20% of world oil supply
- Investors await the Fed's FOMC minutes for clues on US monetary policy
- Canada's June employment report on Friday will guide expectations for the Bank of Canada's next policy move
- Higher oil and gas prices are again weighing on EUR/USD, pushing the euro lower against the dollar
- Recent EUR/USD moves are driven more by Fed and ECB rate expectations and yield‑spread differentials than by energy
- Future euro‑dollar direction will depend on central‑bank outlooks, inflation expectations, US‑Euro yield spreads and eurozone energy‑supply risks
- HSBC ends overweight view on EM equities, citing AI capex risk and heightened Asian volatility
- MSCI EM Asia index fell >2% on Wednesday, driven by South Korean stocks
- South Korea's KOSPI dropped 5.35% and is down >20% from its late‑June peak
- HSBC upgrades eurozone equities to overweight, expecting lower growth expectations and a weaker euro to support stocks
- USD/CNH rose to 6.8051 and closed at 6.8038, up 0.14%
- Key resistance at 6.8080 and 6.8195; support at 6.7900 and 6.7850
- UOB expects range trading between 6.7750‑6.8080, with upside risk if above 6.8080
- Momentum building implies further Yuan weakness unless support holds
- Dollar Index (DXY) rose 0.001% in the session
- Overall movement was minimal, ending near prior close
- FX market shows little volatility in the latest session
- USD/SGD closed at 1.2929, up 0.04%, within a 1.2906‑1.2934 range
- Near‑term resistance at 1.2955‑1.2940; support at 1.2920‑1.2910
- Risk of a break below 1.2890 on a 1‑3 week horizon, while weekly outlook targets 1.3095
- Market trading speeds have accelerated to unprecedented levels
- Brief information gaps are now inevitable in fast-moving markets
- Traditional views of market efficiency are challenged by these asymmetries
Macro/Economy 26
- IMF cuts 2026 global GDP growth forecast to 3% from 3.5% in 2025
- Oil prices projected to be about 32% higher year‑over‑year
- Global consumer inflation expected to rise 4.7% in 2026, ending two years of decline
- AI‑driven productivity gains cited as a mitigating factor for the growth slowdown
- Local governments focus on debt clean‑up rather than new stimulus, constraining fiscal support for H2 2026
- GDP would need to slip to 4.0‑4.2% (vs 4.6% forecast) to prompt additional fiscal easing
- PBoC may deliver a modest 10‑bp rate cut in late Q3, with faster infrastructure rollout and looser MoF project scrutiny
- Government announced $100 bn investment in transmission and distribution upgrades through 2030
- Solar manufacturing capacity projected to exceed 30 GW by 2030, up from about 5 GW in 2023
- Domestic solar module share could reach roughly 70% of demand, cutting imports by around 50%
- Renewable electricity generation share expected to rise to 40% by 2030, versus 15% in 2023
- Latin American assets fell 0.5-0.8% after Trump's comments on Iran
- Oil prices rose 5.3% to a two-week high, denting global risk sentiment
- Inflation worries resurfaced, especially in oil-importing economies
- Global M&A deal value reached over $3 trillion in the first half of 2026.
- Year‑over‑year M&A volume rose 44%, setting a new H1 record.
- Number of individual deals fell despite the value increase.
- AI‑related transactions were a key driver of the surge.
- Dealmakers largely ignored the Middle East war and higher energy prices.
- June money stock increased month‑over‑month
- Broad money (M2) rose to a new peak
- Higher money supply could affect inflation expectations and policy decisions
- $15bn programme launched in 2025, with 28,000 kitchens delivering up to 3,000 meals daily.
- Procurement fraud case involving $56m arrests; budget reduced from $18.4bn to $14.7bn for 2024.
- Over 33,000 food poisoning incidents reported; 7,000 surplus kitchens cost ~1 trillion rupiah ($54m) per month.
- More than half of kitchens (≈18,000) are on Java, while only 270 are in high‑stunting eastern provinces.
- Only 5% of 25.78 million beneficiaries were pregnant women or toddlers, the primary target for stunting reduction.
- Proposed tourism fee of at least 300 baht per passenger deemed infeasible due to airline back‑office limitations
- More than 100 foreign airlines operate in Thailand, complicating fare‑based fee integration
- Collecting the fee from Thai nationals would be unlawful under the National Tourism Policy Act
- Aviation bodies recommend using the Thailand Digital Arrival Card (TDAC) to collect the fee instead of airlines
- US imports of Brazilian goods fell to 9.4% in Jan‑Jun 2026, down from 12.1% a year earlier – the lowest share since 1997.
- China widened its lead to become Brazil's top trading partner during the same period.
- The decline occurs as US lawmakers hold hearings on a new round of tariffs targeting Brazilian products.
- Proposal targets civil servants aged 40‑45 for voluntary early retirement, not all officials 40+
- Preliminary estimate suggests over 10,000 civil servants could qualify for the scheme
- Government emphasizes upskilling and reskilling to mitigate AI‑driven job disruptions
- Critics warn the plan may create social and economic challenges and question its fiscal impact
- USTR is holding a three‑day public hearing (July 7‑9) on a Section 301 probe of forced‑labour linked imports.
- Lawmakers and officials are split on whether raising tariffs would improve workers’ rights in China.
- Proposed tariff measures could target a range of Chinese products, but specific rates have not been set.
- If enacted, the tariffs would add to existing duties on Chinese goods, potentially affecting bilateral trade volumes.
- Inflation fears reappear, pressuring consumer price outlook
- Diesel fuel prices climb, adding cost pressure on transport sector
- Debate over AI regulation introduces additional economic uncertainty
- 45% of Americans skip vacations, a 2% year‑over‑year decline in summer travel intent
- Airport checkpoint traffic during the July 4 weekend fell 2.3% to 7.3 million passengers
- Airfare prices have risen 8.2% since February; United Airlines may raise fares up to 20%
- Benchmark crude oil jumped 4.84%, boosting jet‑fuel costs and airline expense pressure
- Spirit Airlines ceased operations after three decades, citing fuel‑price pressures
- Panel rejected most of Indonesia's objections to EU anti-dumping duties on fatty acid imports.
- One complaint was upheld, finding the EU mis‑converted transaction currencies, breaching the Anti-Dumping Agreement.
- The ruling confirms the EU's duty calculations remain largely intact, with only a limited methodological breach identified.
- Committee examined proposals to boost gilt repo market liquidity, including central clearing and cross‑margining, with any policy changes expected to take years to implement.
- Members stressed improving education and outreach for the voluntary Money Market Code, suggesting integration into training programmes and trade‑association communication.
- Agreed the 2027 Code refresh will focus on post‑2024 market developments rather than a wholesale rewrite.
- South Korea’s “just resting” cohort now totals about 500,000 young adults not seeking work.
- Confidence in upward mobility for children fell from 47.7% in 2011 to roughly 30% in 2021.
- Bank of Korea research links generative AI rollout to declining youth employment in AI‑exposed sectors, while senior job growth continues.
- Japan, South Korea and China each label their disengaged youth as “enlightened”, “just resting” and “lying flat” generations respectively.
- Experts argue that boosting education in critical thinking, creativity and empathy is essential to mitigate AI‑driven job displacement.
- MP Materials, Energy Fuels and Phoenix Tailings, backed by billions in US subsidies, are shipping rare earths to Japan and South Korea.
- American demand for domestically produced rare earths remains weak, slowing the development of a national supply chain.
- China continues to dominate global rare earth supplies, prompting US security concerns over critical mineral access.
- Export flow highlights the gap between US policy ambitions and current market realities for rare earths.
- Rising nominal wealth and asset prices risk inflating bubbles across major markets
- High levels of corporate and sovereign debt increase systemic vulnerability
- Policy focus may need to shift from growth targets to financial stability
- Continued credit expansion could exacerbate debt pyramids if unchecked
- Flynn emphasizes the need for a coordinated, long-term U.S. policy to secure critical-mineral supply
- Goal is to reshore supply chains and reduce dependence on foreign sources, especially China
- Building domestic mining, processing and recycling capacity is central to the strategy
- Visitor arrivals reached 26.71 million in the first half of 2026, up 13% YoY
- Mainland Chinese visitors grew 16% while foreign tourists increased 5% year‑on‑year
- Boost driven by more mega‑events and expanded flight destinations
- Tourism rebound narrows gap to pre‑pandemic visitor levels
- India exempts four China-linked power equipment manufacturers for two years, allowing them to bid on critical projects
- The move underscores India's $100 billion-plus trade deficit with China, its largest bilateral gap
- Dependence spans key sectors such as solar panels, electronics and pharmaceutical ingredients, raising strategic vulnerability
- Officials cite lack of domestic alternatives as reason for the policy, despite ongoing push for self‑reliance
- Analysts warn that reliance on Chinese imports could expose India to supply disruptions and geopolitical pressure
- Bangkok placed 10th in Julius Baer Global Wealth and Lifestyle Report 2026
- Global premium‑living costs rose 10.2% YoY in USD terms, mainly due to currency movements
- Asia‑Pacific average price increase was 7.4% YoY, below the global 10.2% rise
- Gold prices have more than doubled since 2024, pushing jewellery costs up 16.4% and watches up 15.5%
- Loans remain dominated by short-term maturities, with a smaller share in medium and long terms
- Debt securities show a higher proportion of medium-term maturities relative to loans
- Deposits are heavily weighted toward short-term instruments, reflecting a liquidity preference
- Overall maturity profile shows little change from the previous quarter
- US coffee producers and roasters have asked President Trump to retain the 0% tariff on Brazilian coffee beans.
- The tariff exemption, granted in 2022, currently eliminates duties on all Brazilian coffee imports to the United States.
- Industry officials warn that ending the exemption could increase coffee prices for U.S. consumers.
- IRS announces new guidance to reduce penalties for tax filing mistakes
- Advocates call the change a major win for taxpayers
- The rule aims to simplify penalty avoidance for those who err on returns
- Alexander Hamilton, the first U.S. Treasury secretary, supported tariffs primarily as a source of government revenue.
- He argued that tariffs could coexist with free‑trade principles, not as barriers to imports.
- The opinion contrasts Hamilton’s revenue‑focused tariff policy with later protectionist interpretations.
Central Banks 6
- Fed left the benchmark rate unchanged at 3.50%-3.75% unanimously
- Minutes highlight elevated inflation risks and potential for future hikes
- US Dollar Index (DXY) nears 101.0 while Treasury yields rise on hawkish tone
- Staff modestly downgraded GDP outlook, but inflation outlook remains sticky
- Market consensus: no near‑term cuts, supporting higher‑for‑longer narrative
- Traders price in a rate hike as early as September, then a hold for at least a year (CME FedWatch)
- Bank of America now forecasts three 0.25% hikes by year‑end, up from earlier expectations
- NY Fed consumer survey shows 1‑year inflation expectations at 3.7% (highest since Sep 2023) and 3‑year at 3.3% (peak since Jun 2022)
- Minutes expected to be less detailed under new Chair Kevin Warsh, reducing transparency on policy views
- Reserve Bank of New Zealand raised the policy rate by 25 basis points to 2.5%
- Inflation remains above target, prompting expectations of further stimulus reduction
- Markets price in roughly 40 basis points of additional rate hikes for 2024
- ABN AMRO forecasts modest upside for the NZD against the USD
- Fed published the minutes of the June 16-17, 2026 policy meeting
- Release follows the standard three‑week lag after the decision
- No immediate policy change or new guidance highlighted in the brief
- Full text available on the Federal Reserve's website
- BoE governor Andrew Bailey asserts the central bank's policy remains independent.
- Bailey met with Nigel Farage and discussed cryptocurrency and CBDC matters.
- Bailey denies Farage's lobbying influenced the BoE's CBDC policy direction.
- BoE released the annual Levy Notification for the 2026/27 Levy Year
- Levy payers will receive invoices outlining their contributions
- The notification document is now available on the BoE website
- No immediate market impact expected
Energy/Oil 17
- Brent crude and WTI spot prices jump roughly 6% on supply concerns
- Tankers resume transit through the Hormuz Strait despite heightened regional tensions
- Tightness in crude supplies fuels bullish sentiment in the energy market
- Brent crude rose about 5% to $77.8 per barrel
- WTI crude climbed roughly 4.6% to $73.65 per barrel
- U.S. equity indices fell, with the Dow down 1.0% and the S&P 500 down 0.5%
- Asian markets slipped, Korea's Kospi down 5.4% and Japan's Nikkei down 2.1%
- The dollar gained modestly as the euro fell to $1.1399
- US hit more than 80 targets in the Strait of Hormuz, prompting a new strike round
- Brent crude rose 6.3% and WTI rose 6.4% following the attacks
- Iran says it struck over 80 US-linked facilities in Bahrain and Kuwait
- Gold fell nearly 1% as a stronger dollar offset the oil rally
- The Versailles ceasefire collapsed within days, heightening geopolitical risk for oil markets
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- Trump said the US could take over Kharg Island, Iran's main oil export hub handling about 90% of its crude
- Kharg processes roughly 950 million barrels of oil each year
- Brent crude jumped more than 5% after Trump's comments, reflecting supply‑disruption fears
- US strikes hit over 60 IRGC boats, knocking out 28, heightening Gulf tensions
- WTI up 2.2% to around $73.60, reaching an intraday high of $75.73, its highest level in two weeks
- Iran threatens to close the Strait of Hormuz, reviving supply risk premium in oil markets
- EIA reports US crude inventories rose by 2.998 million barrels, ending a ten‑week drawdown
- Renewed US‑Iran fighting follows IRGC attacks on commercial vessels in the Strait of Hormuz
- U.S. petroleum exports rose to 13.6 million barrels per day in April, 15% above March's record
- Crude oil exports averaged 5.6 million b/d, a 21% increase from the previous high set in Dec 2023
- Propane exports exceeded 2.0 million b/d for the first time in monthly data
- Distillate fuel oil exports reached 1.6 million b/d, the highest since July 2017
- Weekly estimates show crude, distillate, jet fuel and propane exports remaining above five‑year seasonal highs into May‑June
- Global crude oil prices remain highly volatile, spiking after renewed US‑Iran strikes
- Thailand's inflation could rise to 3‑4% as oil‑driven price pressures resume, keeping the policy rate at 1%
- Bangkok Bank projects Thai GDP growth at 1.5‑2% and expects the baht to stay near 33 per USD
- If tensions ease, oil prices may retreat to $65‑70 per barrel, down from recent highs around $80
- Saudi Arabia announced the deepest Asia crude price cut in 20 years, targeting shipments next month
- Iraq, Kuwait and the UAE also resumed price competition for Asian buyers as the Strait of Hormuz reopens
- The reductions aim to regain market share in Asia, the world’s largest oil import market
- MOU signed on Nov 27, 2025 designates the West Coast pipeline as a project of national interest.
- Implementation Agreement signed May 15, 2026 outlines timelines for construction approval as early as Sep 2027.
- July 2, 2026 announcement confirms a new Alberta‑British Columbia pipeline targeting Asian export markets.
- The projects could boost Canadian crude flows to Asia, potentially lifting WTI and Brent volumes.
- Russia imposes a ban on all diesel exports, effective immediately and lasting until the end of July
- The embargo follows a Ukrainian drone strike that crippled the Omsk refinery, Russia's largest fuel plant
- Deputy Prime Minister Alexander Novak says the ban closes a loophole that let self-producing oil firms sell fuel abroad
- The policy aims to secure domestic fuel supplies amid intensified attacks on Russian energy infrastructure
- WTI crude prices rose, pushing the benchmark above $80 per barrel
- Brent crude followed, climbing above $85 per barrel
- Higher oil prices revive inflation concerns ahead of today's Fed minutes release
- Analysts expect the Fed minutes to reflect a more hawkish stance due to rising energy costs
- Retail gasoline stays above 30 baht per litre after a 2.51 baht levy cut
- Diesel levy reduced by 2.56 baht per litre, but ex‑refinery price unchanged
- Global crude prices fell after US‑Iran MoU, yet Thai pump prices remain high due to limited refinery capacity
- Government must retain levies to reimburse oil retailers, limiting price‑cut options
- Dangote's Lekki refinery has operated at full 700,000 b/d for the past two months
- Exports of refined products to Europe have reached record levels, overtaking Gulf and US suppliers
- West African clean‑fuel imports fell almost 25% YoY in Q2
- Dangote plans to add another crude distillation unit, raising total capacity to 1.45 m b/d
- Natural gas futures slipped at the close, extending a tight trading range
- Weather-driven demand stayed solid but was offset by ample supply
- The decline signals continued price pressure despite steady demand
- CEO Patrick Pouyanné says TotalEnergies will negotiate an offshore exploration deal with Syrian authorities
- Syria's offshore basin has never been explored, marking a first for foreign oil companies
- TotalEnergies is partnering with other firms to assess the potential contract during the visit
- Discussions aim to move toward signing a contract, pending approval from Damascus
- Eight civilians killed and over 20 injured in June 30 airstrikes in Sagaing Region.
- Singapore-based BAI Pte Ltd supplied Jet A-1 fuel to Myanmar as late as June 2026.
- Vessel MT Great Lake delivered jet fuel to Yangon on June 5, 2026 after spoofing routes via Malaysia and Sweden.
- Sanctioned firms Shwe Byain Phyu and Vital Energy received fuel despite US and Canadian bans.
- Funds for the transactions were routed through Thai intermediaries, revealing a complex evasion network.
- The previously issued Energy Report has been officially revoked.
- Analysts say the removal may raise uncertainty for oil price forecasts.
- Market participants await guidance from major producers and OPEC.
Gold/Metals 10
- Gold fell to around $4,040, hovering near the $4,000 support level
- WTI crude rose above $74.5 per barrel, up more than 8% week‑to‑date
- FedWatch tool shows September rate‑hike odds at 68%, up from 58% the day before
- US 10‑year Treasury yield held near 4.58%, its highest since late May
- FOMC minutes due later in the session, expected to influence gold direction
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- Gold fell following remarks by former President Trump
- Investors are holding for clues in the upcoming FOMC minutes
- Sell‑off reflects concerns over potential tighter monetary policy
- Gold slipped roughly 2% in a single session, its sharpest drop in months.
- US 10‑year Treasury yield climbed to about 4.5%, lifting real yields.
- The selloff signals investors favoring yield returns over safe‑haven demand amid easing war concerns.
- Silver fell 2.5% to $58.41, down from $61.03, staying under the 200‑day SMA at $70.19
- RSI is nearing oversold levels, indicating continued downside pressure
- Break below $56.61 would open the path to $55.79 support, then $54.39
- Further upside requires clearing $63.28 and $67.17 resistance levels
- Gold closed at $4,070.90, down 1.8% on the day.
- Silver fell 4.5%, marking a second consecutive session of declines.
- Both precious metals posted losses for a second straight trading day.
- Central banks are increasing gold purchases, using bullion as collateral
- Investors view gold more as working collateral than a pure hedge
- The shift in demand could sustain the recent gold price rally
- Drill results extend the high-grade Jupiter zone in northern Argentina
- Saturn zone also expanded, indicating broader mineralization
- Highlight hole DPDH077 returned notable copper-gold-silver assay grades
- Metal prices have risen roughly 10% year‑to‑date, lifting royalty junior earnings
- Growing demand for mine financing is narrowing the valuation gap with larger royalty firms
- Junior royalty firms target valuation multiples similar to their larger peers
- Record US$2.91 bn net outflow from domestic gold ETFs in June, the highest on record.
- Outflows driven by profit‑taking as Chinese equities surge and a stronger yuan reduces safe‑haven appeal.
- Mainland investors were the biggest source of outflows across Asian gold ETFs for the month.
- Gold is positioned as the primary safe‑haven in a debt‑laden financial system
- Critical minerals such as copper and lithium are gaining strategic importance for governments
- Investors anticipate a trust premium that could lift prices of gold and key industrial metals
Crypto 35
- US consumers expect inflation to rise to 3.7% over the next 12 months, up from 3.5% in May
- Oil prices surge 6% after US-Iran ceasefire collapses, sending Bitcoin to $62,000
- Fed Chair Kevin Warsh remains committed to bringing inflation down to 2%
- Bitcoin dropped >2% to about $62,000 following Trump's ceasefire comment
- Ether fell >2% and altcoin liquidations totaled $350 million of $450 million overall
- Nasdaq 100 and S&P 500 futures slid up to 1.5% as risk‑off sentiment rose
- Bitcoin open interest fell to 730,000 contracts; 24‑hour crypto liquidations topped $100 million
- Dollar Index (DXY) rose amid renewed geopolitical tension
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- EU plans to amend MiCA to include non‑EU stablecoin issuers, termed “MiCA 2.0”.
- Revision follows recent US stablecoin legislation and new tokenised payment rules.
- Broader scope could impact cross‑border stablecoin operations and market participants.
- RBI pushes policy leaning toward crypto ban despite 39 million Indian investors holding roughly $2.1 bn in digital assets
- Only about 25% of 645,000 crypto‑trading individuals reported gains in FY2023, exposing tax underreporting
- RBI opposes banks' exposure to foreign and rupee‑pegged stablecoins, citing contagion risk and loss of seigniorage
- Bitcoin fell 2.4% in 24 hours to about $62,100.
- Oil prices jumped nearly 7% following the collapse of the Iran ceasefire.
- Bond yields rose toward multi‑year highs, with the US 10‑year yield edging higher.
- The Nasdaq edged up 0.2% while Nvidia surged 3.65%.
- Crypto‑related stocks fell: MicroStrategy -3.6%, Coinbase -2.5%.
- Paradigm raised a $1.2 billion venture fund focused on AI and robotics.
- The fund has already invested in Zipline (valued at $7.6 billion) and True Anomaly (valued at $2.2 billion).
- Paradigm continues crypto backing, having previously raised a $2.5 billion crypto fund in 2021 and an $850 million fund in 2024.
- Stablecoin market cap fell to $312 billion in June, the biggest monthly drop since TerraUSD, while tokenized equity volumes rose 145% to $3.86 billion.
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- Bitcoin retests $60,000 support, sliding roughly 5% from recent highs
- Rising oil prices, with Brent crude up about 2%, add pressure to risk assets
- Japan's economic contagion concerns weigh on market sentiment
- Strategy funds increase short positions, amplifying the sell-off
- Tokenized equity transfers grew 105% month‑over‑month
- Monthly volume hit $8.4 billion
- Growth driven by crypto firms and traditional financial institutions
- Expanding initiatives broaden market value of tokenized stocks
- Bitcoin hovered near $62,000, retreating from recent highs above $68,000.
- Futures traders reduced exposure ahead of the Federal Reserve's upcoming policy statement.
- Rising oil prices and heightened tensions in Iran added to market risk aversion.
- Bitcoin Standard Treasury Co and Cantor Equity Partners I are reviewing the 2025 SPAC merger agreement.
- The parties aim to amend the deal to better reflect current market conditions.
- The revision follows broader volatility in the cryptocurrency sector.
- Tokenized TradFi perpetual contracts settled in stablecoins topped $1.1 trillion in volume
- Stablecoins are increasingly preferred as the settlement layer for tokenized traditional finance markets
- The report notes growing use of stablecoins in payments and savings applications
- Bitcoin fell toward $61,000, edging lower from recent highs
- Oil prices rose to around $75 per barrel amid threats of a Hormuz blockade
- The decline follows the collapse of the US‑Iran ceasefire, raising geopolitical risk
- BTC ETFs recorded $5.4 bn of outflows YTD, including $8.2 bn since May 12
- Approximately 45% of long‑term BTC holders are in loss, a level linked to past market bottoms
- Long‑term holder BTC supply has climbed to a record high in recent weeks
- Money supply rose >1% month‑over‑month in May, hitting $23 tn, the strongest increase since 2021
- Dinari and tZERO will combine issuance, trading, custody, settlement and shareholder services into a regulated platform for tokenized U.S. equities.
- The platform targets broker‑dealers, enabling them to offer blockchain‑based equity offerings without building infrastructure.
- Tokenized equity volumes surged 145% in June to a record $3.86 billion, while stablecoin market cap fell to $312 billion.
- Mainnet launch targeted for early 2027 with a public testnet expected by end‑2026
- Design targets over 100,000 transactions per second and sub‑50 ms pre‑confirmation latency
- Eliminates public mempool and uses JIT compilation to achieve exchange‑level execution speeds
- Will run alongside the existing BNB Smart Chain, which holds roughly $5 bn in TVL
- Bull Bitcoin, a non-custodial exchange, petitioned the French court to annul the DAC8 decree
- The decree implements EU DAC8 rules that could enable surveillance of crypto transactions
- The exchange warns the rules may expose up to 135 million European crypto holders to physical risks
- A successful challenge could limit regulatory oversight on crypto activities in Europe
- Fewer than a quarter (≈23%) of 645,000 Indian crypto traders filed tax returns for FY2022-23.
- Tax authorities estimate 39 million crypto traders in India hold over $2.1 billion in crypto assets.
- RBI urged banks to stay insulated from crypto and kept a prohibition option on the table.
- India ranked first in Chainalysis' 2025 Global Crypto Adoption Index, underscoring regulatory focus.
- Tokenized assets span treasuries, real estate, equities, commodities and private credit.
- The sector remains small compared with traditional finance but is expanding very rapidly.
- These five asset classes are the fastest to be tokenized on blockchain platforms.
- Decree promotes crypto mining using gas‑powered electricity
- Income‑tax exemptions granted for regulated crypto transactions
- Cross‑border stablecoin payments are authorized
- Policy aims to position Kazakhstan as a regional crypto hub
- A moving‑average derivative that last signaled the 2022 bear‑market low has re‑activated.
- Bitcoin price has re‑entered the technical reversal zone identified by the indicator.
- Analysts interpret the signal as the start of a textbook Bitcoin bottom.
- Citadel and Portofino agree to dismiss the New York trade secrets case after three years of litigation
- Citadel seeks to enforce a £5.98 million London arbitration award against Portofino co‑founder Leo Lancia
- Citadel filed a High Court petition to declare Lancia bankrupt after the award remains unpaid
- Citadel estimates it holds only £21,886 in security against the debt, indicating limited recovery prospects
- SpaceX transferred a total of about $300 (0.00422 BTC) between its own addresses, with no coins sent to an exchange.
- The company still holds roughly 18,712 BTC, valued at about $1.16 billion after its June IPO disclosed the full position.
- The largest single transfer was 0.00213 BTC (~$135), and the smallest was 0.000738 BTC (~$47), typical of fee‑payment or wallet‑consolidation activity.
- Prior on‑chain estimates pegged SpaceX's holdings at ~8,285 BTC, so the disclosed amount more than doubled earlier tracker figures.
- Strategy sold 3,588 Bitcoin, valued at about $216 million.
- Macro economist Lyn Alden says Bitcoin must stand on its own without a savior.
- Alden warns of leverage risks linked to the STRC token.
- ESMA will evaluate custody providers' key management practices
- Incident response procedures will be scrutinized
- Reliance on third‑party technology providers will be examined
- Assessment follows the EU's MiCA regulatory framework rollout
- CEO Eli Ben-Sasson says lost private keys will shrink usable Bitcoin supply
- Proposes a 4% yearly inflation rate to offset the decline
- Proposal faces pushback from Bitcoin community that values fixed 21M cap
- No immediate policy change; impact on Bitcoin price uncertain
- CFTC filed enforcement action against a commodity pool operator tied to crypto investments
- Alleged fraud exceeds $14 million taken from investors
- The case is one of the few crypto‑related enforcement actions by the regulator
- No specific crypto assets were named, but the move signals tighter oversight of crypto pools
- Strike launches Bitcoin loans that eliminate margin calls and forced liquidations
- Loans carry a fixed interest rate of up to 14.2%
- Borrowers must meet repayment deadlines to retain volatility protection
- Product is aimed at crypto investors navigating a prolonged bear market
- High cost may curb demand for the new loan offering
- Polymarket is rolling out influencer-driven marketing and partnerships with MLB, CNBC and CNN.
- The company relaunched a CFTC-supervised mobile app for real-money sports betting in December.
- Polymarket’s X account now has 1.7 million followers, versus rival Kalshi’s 431,400.
- The platform previously settled with the CFTC for $1.4 million and agreed to stop U.S. service in 2020.
- South Korean fintech Toss partners with Optimism and Sunnyside Labs for a stablecoin proof of concept
- Project will test feasibility of a KRW‑denominated stablecoin for payments
- Proof of concept aims to assess regulatory and technical viability in Korea
- 28 men arrested across seven countries in coordinated crackdown
- Operation targeted buyers of child sexual abuse material on dark‑web forums
- Payments for access were made using the cryptocurrency Monero
- Arrests were coordinated with law enforcement agencies in six other nations
- First stage of PoL Next hard fork deployed, marking the start of the upgrade
- Dual-token model is being phased out as BGT token will be retired
- Network rewards will transition to the new WBERA token
- Upgrade aims to simplify token economics and improve incentive alignment
- Base will activate the B20 standard on Wednesday at 18:00 UTC
- The standard enables creation of native tokens on the Base network
- Developers can issue stablecoins, real‑world assets and other token types
- 89% of validators on the default UNL have upgraded to v3.2.0, clearing the 80% activation threshold
- Only 43% of the ~833 active nodes run v3.2.0, while 51% remain on v3.1.3
- The fixCleanup3_2_0 security amendment is polling far below software adoption levels
- Upgrade launched on June 15 to cut operating costs and boost stability for institutional users
- Swyftx obtained an Australian licence to offer payment services
- Interim co-CEO says the firm will no longer be a pure crypto spot exchange
- The move targets broader crypto payment offerings beyond spot trading
- Secret Network cites security concerns over legacy code in the Arbitrum move
- Team highlights potential AI-driven exploits as a primary risk factor
- Proposed integration with Arbitrum remains under scrutiny pending risk mitigation
Geopolitics 48
- US announces expanded airstrikes on Iran, saying they will be more numerous than earlier attacks
- Commercial vessels in the Strait of Hormuz were targeted, prompting the escalation
- Washington accuses Tehran of violating the Memorandum of Understanding that ended the war
- U.S. forces carried out a fresh round of strikes against Iranian targets following attacks on commercial ships in the Strait of Hormuz.
- President Trump declared the U.S.-Iran ceasefire "over" and said he is unsure about pursuing any deal with Tehran.
- Washington revoked its waiver on Iranian oil sanctions and ordered a naval blockade of Iranian ports in the Gulf region.
- The Strait of Hormuz, a critical oil transit chokepoint, is again a flashpoint, heightening concerns over global oil supply disruptions.
- NATO pledged €70 billion ($80 bn) in assistance to Ukraine, with a commitment to maintain at least equivalent levels through 2027
- Members agreed to raise core defense spending to 3.5 % of GDP by 2026, though only five of 32 NATO countries are projected to meet the target
- The alliance announced over $50 billion in new procurements for air and missile defense, AI, unmanned systems and related technologies
- U.S. President Trump declared the memorandum of understanding with Iran “over,” intensifying diplomatic tensions after U.S. strikes on Iranian targets
- Average core defense expenditure rose to 2.53 % of GDP in NATO Europe and Canada in 2026, with the United States at 3.17 %
- China gave only a few hours' notice before launching a submarine-fired ballistic missile in the Pacific
- The test occurred on Sunday amid what Washington describes as a rapid and opaque nuclear build‑up
- US State Department says China fell short of the notification standards used by other nuclear powers
- NATO leaders agreed on more than US$50 billion in defence procurement contracts.
- The summit in Ankara highlighted a "huge sense of unity" among member states.
- Procurement plans cover upgrades to air, land and naval capabilities across multiple countries.
- The deals are expected to boost defence industry spending in the coming years.
- Joint research output between the United States and China has fallen to its lowest level in decades.
- Decoupling spans hard‑tech sectors such as semiconductors to softer areas like academic publishing.
- Experts warn the split could erode global innovation capacity and talent mobility.
- US announces plan to delist Syria as a state sponsor of terrorism, effective in 45 days unless Congress blocks it
- Removal would lift sanctions, allowing trade and investment to flow into Syria for reconstruction
- After delisting, only Iran, North Korea and Cuba would remain on the U.S. terrorism blacklist
- BRICS+ now comprises more than the original five members (Brazil, Russia, India, China, South Africa)
- The US‑Israeli campaign against Iran showed the bloc is not a military alliance
- The conflict highlighted BRICS+ as a political platform for the Global South rather than an ideological bloc
- Malik Agar Ayyir, former rebel commander now deputy chair of Sudan's transitional government, calls for a national dialogue and dissolution of non‑state armed groups.
- Proposal aims to resolve disputes over the Sudanese Armed Forces, the Rapid Support Forces, and the influence of external actors such as the UAE.
- Conflict, which began in April 2023, has killed thousands and displaced about 14 million people, creating the world’s largest ongoing humanitarian crisis.
- Plan builds on the 2020 peace agreement and follows recent initiatives like the US‑UAE‑Saudi‑Egypt "Quad" and the Nairobi roadmap, while rejecting direct negotiations with the RSF.
- A French court suspended the electoral ban on Marine Le Pen, restoring her eligibility for the 2027 presidential race.
- Le Pen said she will not campaign while wearing an electronic monitoring tag imposed by the court.
- The ruling comes ahead of the scheduled April 2027 presidential election, reshaping the far‑right's campaign landscape.
- Gov. Andy Beshear asked Sen. Mitch McConnell for a health update after more than three weeks in hospital
- Kentucky's 2024 law bars the governor from appointing a temporary senator, requiring a special election that could be held as early as Sept. 15
- The Senate is split 53‑47; McConnell's absence could affect the GOP majority and upcoming defense spending votes
- Legal experts warn the new vacancy law may clash with the state constitution and the U.S. 17th Amendment, possibly leading to court battles
- Trump called Spain a "terrible partner" in NATO and urged cutting all trade with Madrid
- Spain's 10‑year bond yield rose about 10 basis points to 3.57% and the IBEX 35 fell over 2.8% after the remarks
- European Stoxx 600 slipped 1.9% and oil prices jumped following Trump's comment on the Iran cease‑fire
- Spain's defence spending is 2.1% of GDP, still below NATO's 5% target for 2035
- NATO Secretary-General Mark Rutte met with leaders of Australia, Japan, New Zealand and South Korea at the NATO summit in Ankara
- The Indo-Pacific Four committed to deepen defence industry collaboration and advanced technology sharing
- The initiative is driven by concerns over the growing strategic partnership between Russia and China
- Russian forces are installing high‑power jammers to block Starlink satellite internet in Ukraine
- Jamming targets Ukrainian "mid‑strike" drones capable of hitting targets dozens of kilometres behind front lines
- Ukraine's drone operations this year rely heavily on Starlink for command and control, prompting Russian counter‑measures
- Trump declared the US-Iran ceasefire over during the NATO summit in Ankara
- US forces carried out fresh strikes on Iran earlier that day
- China called for both nations to de‑escalate and return to the negotiating table
- Trump announces plan to ask the Supreme Court to rehear the June 30 decision upholding birthright citizenship
- His Jan. 20, 2025 executive order would have denied citizenship documents to children of undocumented immigrants
- Supreme Court has rarely reversed an argued decision, last time in 1956
- Manhattan judge orders Trump to pay $5.8 million (including $800k interest) to E. Jean Carroll despite pending petition
- Trump alleges "birthright citizenship" is being sold for $4,000 on billboards, calling the ruling a miscarriage of justice
- Air strikes killed at least eight people in Gaza, among them children aged 10 and 6.
- Separate strikes wounded 12 others and killed four more in a displaced‑people tent.
- Since the U.S.-brokered ceasefire, Israeli violations have caused over 1,084 deaths and 3,491 injuries in Gaza.
- President Trump left Turkey on an older Air Force One instead of the newly renovated Qatari‑gift jet.
- He later boarded the new jet in Britain for the return flight to Washington.
- The new aircraft's first international trip was to the NATO summit in Turkey amid rising Iran tensions.
- The Qatari‑donated jet has faced months of scrutiny over its cost and symbolism.
- Former President Donald Trump announces Ukraine can manufacture Patriot interceptors
- Move aims to boost Ukraine's air‑defence capabilities amid ongoing conflict
- Statement signals potential shift in US‑Ukraine defense cooperation
- Senate committee scheduled to vote on legislation expanding the current ban on Chinese-made cars, trucks and SUVs.
- The bill would prohibit import and sale of Chinese passenger vehicles in the United States.
- If enacted, the measure could add to existing tariffs of up to 25% on Chinese auto parts.
- The vote reflects growing bipartisan pressure amid broader US‑China trade tensions.
- Former President Trump publicly states desire to disengage from the Iran war.
- Political and strategic constraints in Washington limit immediate policy change.
- Regional tensions and ongoing diplomatic efforts suggest continued US involvement.
- U.S. lawmakers and defense establishments are unlikely to endorse a rapid withdrawal.
- Prime Minister Anutin urges prioritising Thai-made military equipment over imports
- Government to provide budget support to boost domestic defence manufacturers
- Thai defence firms already exporting, but domestic contracts remain limited
- Exhibition showcased indigenous products like a laser firearm trainer and wheeled armoured vehicle
- Self‑reliance framed as response to geopolitical tensions and supply‑chain uncertainties
- Trump left the NATO summit without new Iran commitments, accusing allies of unwillingness to help.
- He warned he could withdraw roughly 68,000 U.S. troops stationed in Europe, a number that has already fallen under his administration.
- European leaders from Poland, Norway, Estonia, Finland and Lithuania said they expect U.S. forces to remain despite the threat.
- Experts argue the U.S. would benefit from European pressure on Iran's economy amid the renewed conflict.
- NATO officials did not immediately comment on any agreement regarding Iran at the summit.
- ICE agent fatally shot Lorenzo Salgado Araujo during a Houston traffic stop, the eighth death linked to federal immigration officers under the Trump administration.
- The 35‑year‑long US resident, who had no criminal record and was seeking legal status, was killed while working; his family demands a probe.
- U.S. DHS says the victim attempted to ram an ICE vehicle, while rights groups and Mexico's president condemn the shooting and urge accountability.
- Trump pledged roughly $3 billion in arms sales to NATO members and Ukraine
- Deals include advanced air‑defence systems for European allies
- Announcement made at the NATO summit in Ankara, indicating a policy shift after prior criticism
- Former Obama chief of staff Rahm Emanuel urges a reassessment of US aid to Israel, calling for conditional support.
- Poll shows 58% of Democrats now view US support for Israel as excessive, up from 45% in January 2024.
- Emanuel backs sanctions on Israelis involved in settlement expansion and attacks on Palestinian civilians.
- 40 US senators recently voted to block a sale of bulldozers to Israel, reflecting growing legislative resistance.
- Over 1 million people gathered in Najaf for the funeral procession of Iran’s Supreme Leader Ali Khamenei.
- Protesters cited the war in Gaza as the primary reason for the massive turnout.
- The funeral took place on 8 July 2026, drawing unprecedented crowds in Iraq.
- President Trump labeled the United States as Iran's 'No. 1 target' in remarks
- He expressed uncertainty about pursuing a deal with Tehran
- Trump suggested the U.S. should 'finish the job' against Iran's leadership
- Iran shot down US MQ‑9 Reaper drones, causing losses exceeding $1 billion.
- The Pentagon is soliciting proposals for low-cost hunter‑killer drones to be produced in large numbers.
- Current high-end drones and crewed aircraft cost over $30 million each, deemed unsustainable against low-cost anti‑air defenses.
- China plans a constellation of more than 1,000 remote-sensing satellites focused on Central Asia.
- The first five Tianwu satellites are slated for launch by the end of 2026.
- The project involves Kazakhstan, Uzbekistan and Tajikistan and is presented as environmental and disaster‑monitoring cooperation.
- Executive Order in Jan 2025 froze foreign aid for 90 days, triggering an 83% cut to USAID funding in Cambodia.
- Annual budget dropped from $98 million to $5 million for landmine clearance, with $45 million split with Thailand for border security.
- More than 100 American and Cambodian staff lost jobs as the Cambodia office closed and 5,200 contracts were terminated globally.
- USAID had delivered over $1 billion in aid to Cambodia since 1992, leaving a funding gap of roughly $93 million for 2025 projects.
- The cuts came two months into Cambodia's fiscal year, creating uncertainty for health, education, and infrastructure programs.
- President Trump ordered a halt to all trade with Spain, marking his second such threat since March
- Spanish officials described the bilateral relationship as "positive" and said there is "no tension"
- The threat was issued ahead of a NATO leaders' meeting in Ankara, raising diplomatic concerns
- India and Indonesia signed 20 MoUs covering critical minerals, digital cooperation, maritime security, healthcare, agriculture and disaster management.
- A $630 million contract was agreed for the BrahMos missile system, and a separate deal will supply India’s Astra air‑to‑air missiles, making Indonesia the first export market for Astra.
- Both sides pledged to continue the Sabang port project and improve maritime security via a new Indonesian liaison officer at the Indian Ocean information‑fusion centre.
- Midwest Ltd, an Indian private firm, partnered with Indonesia’s PERMINAS and NFTDC to secure rare‑earth assets and build a global supply chain.
- Former PM Kim Min-seok leads DP supporters poll 45% to Jung Chung-rae's 24%, a 21‑point gap
- Four candidates (Kim, Jung, Son Yong-gil, Ko Min-jung) now contest DP chair, with member votes weighted equally with delegates
- DP holds 161 of 300 seats but faces internal friction over slow legislative progress
- Opposition PPP leader Jang Dong-hyuk refuses to resign despite June local election defeat, contrasting DP's accountability push
- Poland’s defense spending reached 4.8% of GDP, the highest share in NATO
- Taiwan’s defense spending was 3.3% of GDP in 2026, with a target of 5% by 2030
- Poland accounted for almost 60% of Taiwan’s total drone exports last year
- Poland’s Drone Valley project is budgeted at about 135 million PLN (≈32 million €)
- Polish drone maker FlyFocus raised $5.3 million for “Made in Europe” production
- Kazakhstan's Constitutional Court ruled that term‑limited officials, including the president, can be re‑elected under the new constitution effective July 1.
- President Kassym‑Jomart Tokayev, 73, could seek another term in 2029, potentially extending his rule to 2036.
- The 2026 referendum replaced the 1995 constitution and previously changed presidential limits from two five‑year terms to a single seven‑year term.
- Chinese commerce minister Wang Wentao met the Dutch trade minister to seek a fair, predictable business environment for Chinese firms in the Netherlands.
- Beijing stressed the importance of stable semiconductor supply chains and a clean break from friction over Nexperia.
- The dialogue occurs as both countries navigate broader tech tensions with the United States.
- Beijing released its third critique in days via a Ministry of Natural Resources think‑tank.
- China labelled Manila's claims "unlawful" and a "grave threat" to the post‑war global order.
- The remarks come days before the 10th anniversary of the 2016 Hague tribunal ruling.
- Joint Sea-2026 naval exercise began on Monday in Qingdao, China.
- Drills focus on submarine rescue procedures for Chinese and Russian personnel.
- The ninth annual exercise since 2012 underscores deepening military cooperation.
- China forgave four interest‑free loans totaling $50 million to Sudan's military government
- Sudan owes China over $5 billion and is negotiating a $300 million copper profit‑share agreement
- China plans to resume CNPC oil operations and fund $30 million in grant‑based projects in Sudan
- The civil war halted oil exports, ending the Block 6 partnership and prompting a force‑majeure
- Barisan Nasional (BN) has a 92.8% chance of winning the most seats in Johor's state election, according to Polymarket.
- Bettors on the crypto-powered betting exchange have already called the election in favour of BN.
- The coalition is expected to retain control of Malaysia's southern gateway to Singapore.
- Indonesia becomes the third Southeast Asian nation, after Vietnam and the Philippines, to acquire BrahMos missiles.
- The agreement was signed during Indian Prime Minister Narendra Modi's three‑day state visit to Jakarta.
- Missiles are aimed at safeguarding Indonesia's strategic waterways amid potential great‑power conflict.
- Deal highlights deepening defense cooperation between India, Russia, and Southeast Asian countries.
- Former mayor Rudy Giuliani publicly supports the White House's policy toward Iran amid World Cup tensions
- Giuliani argues the U.S. approach balances diplomatic concerns with sporting events
- The statement comes as criticism grows over Iran's participation and regional security issues
- New Thai Customs penalty (effective June 17) fines smugglers 30,000 baht per kilogram of cannabis
- From Oct 2025 to June 2026, 3,309 cannabis seizure cases (37,210 kg) were recorded, with the UK accounting for 65% of export cases
- Since the penalty regime began, 71 people were arrested and about 1.3 tonnes of cannabis seized
- In 2025, nearly 1,000 cannabis couriers were arrested, a 22% rise from 2024, targeting over two tonnes valued at £6 million
- President Trump arrived at the NATO summit aboard a Qatar‑gifted Air Force One before switching to an older jet for departure
- The new aircraft is slated to fly to European bases to demonstrate its capabilities
- The departure took place at the NATO summit on 8 July 2026
- Farage resigned his parliamentary seat, prompting a by‑election in a southeast England constituency.
- Conservative, Labour and Liberal Democrat parties have said they will not contest the seat.
- The only declared challenger is Count Binface, a satirical candidate who has run in previous elections.
- With minimal opposition, Farage risks a backlash that could damage his political credibility.
- One year after the general election, two central executive committee members quit the Progress Singapore Party (PSP).
- The departures are described by analysts as an "existential blow" to the PSP's prospects.
- The resignations reflect a broader post‑poll recalibration among Singapore's smaller opposition parties.
- Stephanie Tan, a 38‑year‑old former candidate, is among those stepping down.
- Film "Pig Feast" released in late May highlights Indonesia's National Strategic Project (PSN) in West Papua
- PSN plans to convert 2.5 million ha of forest into 1.3 million ha of rice fields, plus sugarcane and palm oil plantations
- Over 105,878 people are reported as internally displaced in West Papua by early 2026
- Roughly 56,000 troops are deployed to support the PSN and counter insurgents
- Documentary alleges the PSN is the world’s largest ongoing deforestation project
Tech/AI 33
- Meta will spend C$13 billion ($9.2 billion) to build a 1‑GW data center in Sturgeon County, Alberta.
- The facility can scale to 1.8 GW and will initially draw about 250 MW, requiring roughly 150 MMcf/d of natural gas.
- Capital Power will supply 250 MW now, while Pembina Pipeline will build a new natural‑gas plant for later use.
- The center will use electricity equal to 800,000 homes, with Meta pledging clean‑energy offsets.
- It is Meta’s 33rd data center globally and the first in Canada, underscoring AI‑driven power demand.
- Morgan Stanley researchers identify four structural trends supporting orbital computing: tighter land-based constraints, falling launch costs, optical satellite networking, and rising space data volume.
- Orbital computing may be more credible than AI data centers built on Earth, with potential for reduced costs, eased constraints, and new security capabilities.
- Morgan Stanley expects orbital edge-AI to be a near-term opportunity, with satellites processing imagery and sensor data in orbit before sending outputs back to Earth.
- Grok 4.5 claims twice the token efficiency of leading models, costing $2 per million input tokens and $6 per million output tokens
- Compared to Anthropic’s Opus 4.7, Grok 4.5 is positioned as faster and cheaper (Opus costs $5 input/$25 output per million tokens)
- SpaceXAI will make Grok 4.5 publicly available tomorrow after positive beta feedback
- OpenAI plans to release GPT 5.6 later this week, adding to a busy AI model release period
- OpenAI introduced GPT‑Live‑1 and GPT‑Live‑1 mini, full‑duplex voice models that can speak and listen simultaneously
- The new models replace the current Advanced Voice Mode and will be default for paid users, with the larger model available to premium tiers
- Voice mode now integrates with the latest GPT‑5.5 text models and supports live translation and 30‑40 minute conversations
- OpenAI says over 150 million people have used ChatGPT voice features; Apple, Amazon and startups are also enhancing conversational assistants
- China's regulator flagged a "security backdoor" in Anthropic's Claude Code that could transmit user location and identity data.
- Anthropic says the mechanism is an anti-abuse feature that checks device timezone and routing domains.
- Alibaba will ban Claude Code use from July 10, and Anthropic plans to remove the backdoor in the next release.
- CP Group and Mae Fah Luang Foundation will issue carbon credit tokens via TrueMoney app, covering 10,000 rai of forest.
- CP commits 30 million baht to purchase tokens and plans a 30 million baht revolving forest restoration fund by 2030.
- Pilot expected to generate ~10,000 tCO₂e in credits and could give 10,000‑15,000 baht monthly income to ~200 households.
- Full tokenisation of carbon credits and other natural‑capital services slated for later phases pending regulatory approval.
- Initiative is part of Bank of Thailand’s sandbox, aiming to digitise all 90,000 rai of Doi Tung forest by year‑end.
- NHTSA issued a directive demanding AV developers fix interference with emergency responders by month‑end
- Agency cites at least six incidents where Waymo vehicles blocked or required manual takeover by first responders
- NHTSA warns non‑human drivers that impede responders could face fines or jail, similar to penalties for human drivers
- Scientists at Texas A&M found a way to synthesize graphene oxide directly from natural gas
- The process could cut production costs of a key lithium‑ion battery material and scale efficiently
- Green hydrogen is generated as a by‑product, adding a renewable energy benefit
- The accidental discovery may accelerate battery manufacturing and reduce reliance on traditional graphite sources
- Google’s SynthID watermark flagged the circulating image of Senator Mitch McConnell as AI-generated, leading Snopes to label it a hoax.
- The invisible signature, built into images since SynthID’s 2025 launch, survived multiple screenshots and platform shares.
- Gemini models have incorporated the watermark since 2025; OpenAI added support in May 2026, while Anthropic remains outside the program.
- Users can verify images by querying Gemini or using OpenAI’s public image verification tool.
- NHTSA cites a "clear pattern" of autonomous vehicles blocking ambulances, fire trucks and police scenes
- Agency will convene meetings with AV developers by end of July to seek solutions
- Incidents include Waymo vehicles obstructing fire trucks in Dallas and violating Texas school‑bus rules
- NHTSA and NTSB are probing separate Waymo crashes, including a Jan. 23 incident that injured a 9‑year‑old girl
- NHTSA warns that failure to recognize flashing lights, flares or traffic cones is a functional insufficiency
- Class-action lawsuit says Grok was used to create 7,000 AI‑generated child sexual abuse images from one photo of an 11‑year‑old.
- The alleged user died by suicide after police discovered the images; only a "gang rape" prompt triggered a CyberTip to NCMEC.
- Complaint accuses xAI of failing to block harmful content and of obstructing police investigations into AI‑generated CSAM.
- Case underscores growing concerns over AI safety controls and potential regulatory scrutiny of generative AI tools.
- General Intuition raised $320 million, valuing the company at $2.3 billion.
- Trained on millions of hours of video‑game data, the model achieved zero‑shot robot control after just eight minutes of real‑world fine‑tuning.
- CEO Pim de Witte says the model’s spatial‑temporal reasoning could replace the need for hundreds of thousands of hours of robot‑specific data.
- The firm aims to become a base model for other robotics companies rather than building its own robots.
- KVM flaw (CVE‑2026‑53359) allows guest virtual machines to gain root access on host systems
- Vulnerability impacts both AMD and Intel processors and existed in the Linux kernel for 16 years
- Google agreed to pay $250,000 to the researcher for the disclosure
- One of two high‑severity Linux bugs reported this week
- Google Photos introduces "Video Remix" powered by Gemini Omni AI, enabling quick video edits such as relighting and artistic style changes.
- The tool rolls out today to eligible Google AI Plus, Pro and Ultra users in 16 countries, including the U.S., India, Japan and Brazil.
- Video Remix joins recent AI features in Photos, like touch‑up edits and a digital closet for clothing, expanding Google’s consumer AI suite.
- 421 wind turbines have operated in the Horse Hollow area since 2006.
- The former wind farm covers about 47,000 acres of former cattle ranch land.
- Ranchers are now leasing or selling the same land for AI data center projects, tapping the AI land rush.
- Current large language models excel at text but lack spatial-temporal reasoning ability
- Video game environments supply rich, controllable 3D data that can teach AI how objects move in space and time
- CEO's startup General Intuition plans to use gaming data to accelerate progress toward artificial general intelligence
- Miami-based City Labs' BOHR satellite, a betavoltaic reactor, was launched on a SpaceX Falcon 9 rideshare mission.
- The satellite entered an orbit of roughly 350‑400 miles (about 600 km) altitude.
- BOHR represents the first commercial nuclear micro‑power system deployed in space, a step toward lunar bases and deep‑space propulsion.
- Mercor reached $2 billion ARR in June, just four months after hitting $1 billion.
- Anthropic’s revenue run rate rose from $30 billion to $47 billion in under two months.
- Sierra added $100 million ARR in two quarters after its first $100 million milestone.
- Glean grew ARR from $200 million to $300 million in six months, after nine months to double from $100 million.
- Gusto surpassed $1 billion trailing 12‑month revenue and saw revenue accelerate for five consecutive quarters.
- President Xi urged stronger efforts to attract overseas talent and fix flaws in China's innovation ecosystem.
- The call comes amid intensifying tech rivalry with the United States and other global players.
- Xi presented the State Pre-eminent Science and Technology Award to solid‑state lithium battery pioneer Chen Liquan and radar expert Ben De.
- Each laureate received a cash prize of 5 million yuan.
- Chen Liquan received the 2025 State Pre-eminent Science and Technology Award for developing China's first lithium battery and its industrialisation.
- Ben De was honored for leading the creation of China's first airborne pulse‑Doppler fire‑control radar for fighter aircraft.
- The awards underscore China's advances in battery technology and advanced military radar systems.
- Uzbekistan posted an EGDI score of 0.7999 in 2024, ranking 63rd worldwide and entering the Very High group.
- In the World Bank GovTech Maturity Index, Uzbekistan placed in Group A, one of only 80 economies in 2025.
- The country rose 71 positions since 2020, raising its score from 0.617 to 0.958, the highest in Central Asia.
- The my.gov.uz e‑government platform, launched in 2013, now handles taxes, licences, utility payments and other services online.
- A 2019 Personal Data law and sector‑specific regulations aim to govern data access and protection as digital integration expands.
- U.S. government scrutiny of Anthropic could be short‑lived if political priorities shift
- Anthropic's exposure to regulatory risk highlights broader AI sector vulnerability
- OpenAI is confronting even greater political and regulatory challenges than Anthropic
- Prompt injection has become the leading security risk for large language models
- Researchers identified nine widely used AI tools that can be repurposed for massive botnets
- Current defenses focus on guardrails rather than eliminating the underlying vulnerability
- Push-style injections target individual users, but new techniques allow broader, internet‑scale attacks
- EU lawmakers will vote Thursday on extending the expired chat‑control framework.
- The urgent vote earlier passed 331 in favor, 304 against, with 11 abstentions.
- Rejecting the proposal now requires an absolute majority of 361 votes.
- In March, a similar extension was rejected 311‑228‑92, underscoring the controversy.
- An interim measure lets platforms scan messages until 2028, sparking privacy concerns.
- Phase 2, a 900‑million‑baht expansion, is put on hold pending evaluation of Phase 1
- Phase 1 will launch in two weeks, offering free AI tool access to 5 million Thais under a 1.6‑billion‑baht budget
- Preliminary surveys identified about 2.7 million potential users in student and civil‑service sectors
- The project will use a pay‑per‑active‑user model and rotate inactive participants to manage capacity
- User base jumped from 10,000 to 100,000 in three days after a viral Threads post
- Approximately 300,000 users signed up within five weeks of launch
- Founder uses AI tools for development and bird artwork, prompting user backlash over AI-generated images
- App is unfunded and monetizes solely through in‑app purchases like extra birds
- X will add DM alerts to inform users when a post they engaged with gets a Community Notes correction; launch date not set
- Studies show 85% of proposed notes remain invisible and up to 90% of notes stay unpublished on X
- The feature aims to curb misinformation spread by notifying users promptly, mirroring Meta's recent fact‑checking changes
- The ACCC program that began in 2020 concluded, leading to the deactivation of thousands of SamKnows routers.
- Volunteers had used the white‑box devices to measure NBN and other fixed‑line broadband performance.
- The final ACCC report confirms the routers were bricked and are no longer functional.
- TikTok’s FYP algorithm prioritizes implicit signals (watch time) over explicit "not interested" clicks.
- Researchers found negative feedback reduces video exposure only briefly; the effect fades without repeated actions.
- Consistent "not interested" signals are required for lasting changes in the recommendation feed.
- Eight new LLMs added, including Claude Fable 5, Claude Sonnet 5, Claude Opus 4.8, GLM 5.2, Kimi K2.7 Code, MiniMax M3, Qwen 3.7 Plus and Qwen 3.7 Max
- Android Bench evaluates performance on a suite of 100 Android development tasks, now tracking cost and efficiency
- Open‑weight models are now supported, expanding evaluation beyond proprietary agents
- Google notes that its Gemini model still trails the newly added competitors in benchmark scores
- Waymo's autonomous car detected teens firing gel‑bead toy guns and halted the ride.
- San Mateo police were alerted, arrived on scene and detained the two teenagers.
- The incident follows earlier reports of passengers drinking inside Waymo robotaxis.
- SpaceX analysts show strong optimism about the company's future prospects
- Investors adopt a more cautious stance toward SpaceX valuations
- The Iran ceasefire has collapsed, raising geopolitical tensions
- Professor Roberto Serrano required an in-person final after suspecting AI cheating.
- Exam scores fell roughly 50% compared with prior assessments.
- A Princeton survey found 29.9% of students admitted using AI to cheat on at least one exam.
Companies 43
- Apple and Broadcom sign multi-year agreement valued at over $30 billion, the largest U.S. manufacturing commitment by Apple
- Deal will produce more than 15 billion U.S.-made chips and includes a $1.5 billion expansion of Broadcom’s Fort Collins facility
- Broadcom shares rose nearly 5% on the announcement, indicating a bullish market reaction
- Agreement runs through 2031 and focuses on custom ASICs for AI workloads
- California, New York and other states could file antitrust lawsuits as early as next week.
- The proposed Paramount‑Warner Bros. Discovery merger is valued at roughly $110 billion.
- Paramount would carry about $80 billion of debt after the deal and face a $650 million quarterly fee if the merger stalls.
- A court challenge could delay the transaction and increase costs for Paramount.
- Alibaba closed up 12.2% at HK$107.5 after analysts flagged AI-driven revenue growth.
- T-Head chip sales and narrowing food‑delivery losses are cited as key earnings catalysts.
- Peers Tencent and Meituan also rose, gaining 3.8% and 3.3% respectively.
- Hang Seng Tech Index climbed alongside the stock gains.
- EU court rules Apple’s iOS and App Store are designated gatekeepers under the DMA
- Ruling could force Apple to permit rival app stores and alternative payment systems
- Non‑compliance fines may reach up to 10% of a company’s global annual turnover
- Apple, Meta and ByteDance have previously challenged the DMA since its May 2023 launch
- Blue Origin plans to raise $10 billion in private capital.
- Coatue Management to lead with a $4 billion commitment.
- Jeff Bezos expected to contribute $2 billion, pushing valuation to $130 billion.
- Funding will support super‑heavy lift rockets, lunar landers and megaconstellations.
- Burry bought Flutter shares at about $107 each, comprising roughly 60% of the new position
- He purchased DraftKings shares in the low $26s, making up about 40% of the position
- Flutter is down ~50% YTD, DraftKings down ~21% YTD, yet Burry sees strong fundamentals
- Burry increased his JD.com stake at $27.58, labeling it a top-three holding
- He expects prediction markets to face tighter regulation, reducing competitive threat to the betting firms
- Columbus Circle Capital Corp III announced a $200 million initial public offering.
- The IPO will be listed on the Nasdaq exchange.
- Pricing details were disclosed, with allocation to be determined.
- Adjusted EPS $0.28 beat $0.24 estimate
- Revenue $1.56 bn beat $1.52 bn estimate
- Full-year EPS guidance lifted to $1.46‑$1.52 (up from $1.42‑$1.48)
- Full-year sales outlook raised to 7‑7.5% growth (up from 5.5‑6.5%)
- Shares fell more than 5% in extended trading
- Judge Sparkle Sooknanan approved the SEC settlement with Elon Musk while noting "significant misgivings"
- Settlement requires Musk's trust to pay $1.5 million for delayed disclosure of Twitter share purchases in 2022
- SEC alleges the delay saved Musk roughly $150 million; judge questioned why no disgorgement was pursued
- Judge warned the deal could set a precedent for special treatment of high‑profile securities violators
- Judge Analisa Torres denied Kalshi's bid to block New York's gambling laws
- New York's interests in preventing gambling addiction and preserving sports integrity outweigh Kalshi's interests
- Kalshi has appealed the decision to the federal appeals court in Manhattan
- UniCredit increased its holding in Commerzbank to just under 50%
- The new stake brings UniCredit close to majority control of the German lender
- The move follows a renewed takeover push by UniCredit
- Analysts note potential consolidation benefits for both banks
- SpaceX closed at $148, two days below its $150 debut price.
- The stock peaked at $201.80 on June 16, shortly after its June 12 IPO.
- Analysts initiated coverage with price targets from $210 to $300, most rating it overweight or outperform.
- IPO raised $85.7 billion after greenshoe, with 555.6 million shares priced at $135 each.
- Second-half adjusted EPS raised to $4.40‑$4.70, up from $2.20‑$2.35 previously
- Full-year adjusted EPS target lifted to $7.90‑$8.30, versus $3.95‑$4.15 earlier
- Sales and segment margin guidance unchanged for both periods
- Guidance increase follows a 1‑for‑2 reverse split after spinning off Honeywell Aerospace
- European Commission approved €76 million non‑dilutive funding from Germany and Bavaria for QuantumDiamonds.
- The startup plans a $178 million investment, including a new Munich facility and a €15 million equity round.
- Its quantum‑based inspection tool reduces defect detection from weeks to two minutes, targeting 100 % fab‑level quality control.
- Pricing for high‑throughput systems is $10‑$15 million, far below ASML’s $400 million lithography machines.
- Manna Aero raised $50 million in venture capital in April.
- Plans to build a Tulsa manufacturing center employing ~1,000 workers, with production starting in about a year.
- Aims to scale US operations team to 200‑300 staff within 12 months and target entry into six additional US cities by end‑2027.
- BofA analyst flags Nvidia shares as undervalued relative to recent performance
- Analyst recommends investors consider buying on the dip
- Discount attributed to sustained underperformance of the stock
- SoFi offers a $250 cash bonus to eligible borrowers with a 3.0 GPA or better
- College Ave partners with Payce to let student loan customers earn cash back from online retailers
- Ascent Funding offers a 1% cash-back graduation reward and a 0.5% autopay discount
- Bank of America extended a $520 million credit line to OpenAI, its first loan to the AI firm.
- The loan makes BofA one of OpenAI's largest lenders ahead of a potential IPO valued over $1 trillion.
- BofA has facilitated nearly $500 billion in AI‑related capital since 2025, accounting for about 60 % of such financing.
- The bank also seeks advisory roles on the upcoming IPOs of OpenAI and Anthropic.
- Rivian announced a secondary offering of ~75 million shares, roughly 6% of the float, to raise capital.
- The news pushed the stock down $3.65 per share, though it remains up about 15% over the past eight trading sessions.
- After the offering, Rivian should hold over $1 billion in cash, extending its runway to early 2027, while implied volatility rose to the 97th percentile of the year.
- Raised $130 million in Series A funding, valuing the startup at $1 billion.
- Funding round led by Radical Ventures with participation from Nvidia Ventures, Intel Capital, and Dell Technologies Capital.
- Company's full‑stack AI agent platform already generating $100 million annualized revenue run rate.
- Early customers such as Ramp and Zapier use the platform to build cost‑effective AI agents.
- The raise reflects growing demand for enterprise‑controlled AI infrastructure amid data‑security concerns.
- Jet2 recorded a £388 million balance‑sheet boost from fuel‑price contracts.
- Hedged contracts locked in lower prices before jet fuel costs spiked amid Middle East conflict.
- The fuel‑price surge was turned into a profit windfall, shielding the airline from higher operating costs.
- Jet2's earnings improved despite broader travel‑sector concerns over rising fuel prices.
- Waymo will add San Diego, Las Vegas, Tampa and Denver to its driverless service rollout in the coming weeks.
- The U.S. fleet now includes about 4,000 robotaxis equipped with fifth- and sixth-generation automated driving systems.
- Waymo raised $16 billion in February and targets 1 million weekly trips by year‑end, with a London launch later this year.
- Mistral launches its first robotics model, named Robostral Navigate
- The system relies on a single camera, eliminating the need for lidar or multiple sensors
- Designed to be compatible with robots from various manufacturers
- Focuses on navigation capabilities rather than object manipulation
- Delta introduces "Basic Business" fare in Delta One cabin, stripping lounge access and free seat selection
- Fare assigns seats at check‑in, reduces mileage accrual and imposes fees for changes or cancellations
- Seats go on sale Wednesday for September‑starting flights in select markets; Delta reports Q2 earnings on Friday
- BSTR and Cantor Equity Partners terminated their July 2025 SPAC merger agreement and will negotiate a new structure
- The planned $1.5 billion PIPE financing was dropped and the July 10 shareholder meeting was postponed indefinitely
- CEPO shares continue to trade around $10.50 despite the merger cancellation
- BSTR had intended to list with over 30,000 bitcoin, positioning it as one of the largest public bitcoin holders
- Dream Finders increased its cash offer for Beazer to $32 per share.
- The new bid is a 24% premium over the previous $25.75 per-share offer.
- The revised proposal is the highest bid received for Beazer so far.
- The offer is an all‑cash transaction, signaling a full acquisition attempt.
- JPMorgan will target M&A transactions below $500 million.
- Focus on small companies owned by baby‑boomers planning succession.
- Strategy aims to expand deal flow beyond large‑cap transactions.
- AI Financial has transferred more than $500 million to the Trump family.
- The company is in talks to sell its core business, marking a strategic reversal.
- The potential sale could reshape the firm's crypto-focused operations.
- No immediate impact on broader market indices is expected.
- European heatwave drives rapid sell‑outs of ACs and fans in Spain, Italy and Germany
- Fan sales on Alibaba's Spanish platform nearly doubled month‑over‑month
- Midea Group's air‑conditioner sales in Western Europe rose more than 70% in H1 2024
- Bain Capital has sold its remaining shares in Kioxia, ending its investment in the memory chip maker.
- The exit comes after Kioxia reported recent earnings and strategic initiatives in the NAND market.
- Kioxia's stock showed a modest reaction to the news, with limited impact on broader market sentiment.
- SEC Form 4 filing disclosed insider transactions for New Era Energy & Digital Inc.
- Filing date: July 8, 2024.
- No immediate market impact indicated from the disclosed trades.
- SEC Form 4 filed by Westinghouse Air Brake Technologies (WAB) on July 8
- Discloses insider transactions as required by regulation
- No immediate market impact anticipated
- Meta Platforms submitted a Form 4 insider trading report to the SEC on July 8
- The filing discloses transactions by company insiders for the reporting period
- No significant insider activity or material changes were highlighted in the filing
- CEO Rafael Santana sold $603,000 worth of Wabtec shares
- The sale was disclosed in a recent Form 4 filing
- Insider transaction is modest and unlikely to impact operations
- Lovable plans to raise $300 million, targeting a $13.2 billion valuation, twice its $6.6 billion valuation from December
- The startup reported a $500 million annualized revenue run rate as of June
- Menlo Ventures is expected to lead the round; peers include Replit ($9 billion) and Factory ($1.5 billion)
- Economic study estimates the Kearney graphite mine restart at $183 million (C$260 million).
- Project is led by Global Battery Materials (GBM) in Ontario, Canada.
- Valuation suggests potential future cash flow generation for the mine.
- Avalon Advanced Materials (TSX: AVL) is advancing its Nechalacho rare earths project in the Northwest Territories, one of the continent's largest.
- An economic feasibility study is slated for completion by the fall of 2026.
- The firm is courting joint‑venture partners and plans to develop road infrastructure to enable future production.
- Judicial panel upheld contractual caps limiting Hudson Bay's stake to under 10%
- Bed Bath & Beyond successor's effort to claw back short-term trading profits was rejected
- The appeal decision leaves the hedge fund's position unchanged
- Vinod Khosla states he does not care about critics labeling OpenAI as overvalued
- He emphasizes a long‑term, risk‑taking philosophy toward AI investments
- Khosla's confidence signals belief in OpenAI's growth potential despite valuation debates
- Vermilion Cliffs Ventures closed a $25 million Fund II.
- Fund II will write $500k‑$1 million checks and target at least 25 companies over 2.5 years.
- The firm previously raised a $13 million debut fund that backed 35 companies, including Keycard and CopilotKit.
- Fundraising took four months, with most capital from existing investors.
- Founder Ashley Smith, a solo female GP, will focus on AI infrastructure, security and developer‑tool startups.
- Rio Tinto relinquishes its stake in the Kasiya graphite project in Malawi.
- Sovereign gains 100% ownership, positioning itself as a non‑Chinese supplier of rutile, graphite and rare earths.
- The transaction could strengthen Malawi's mining sector and diversify global supply chains.
- Seven rigs are operating on the Planalto project in Brazil
- The drilling program totals 14,000 metres to test the Carajás discovery
- Success could underpin a potential $1 billion copper resource estimate
- Lara Exploration trades on TSXV (LRA) and US OTC (LRAXF)
- Allianz Partners will eliminate up to 1,800 positions in its travel insurance unit
- Job cuts are driven by the growing use of artificial intelligence
- CEO Tomas Kunzmann announced the reductions
- The layoffs target the division that handles travel insurance
Thai Markets 5
- Average price per sqm hit 120,364 baht in H1 2026, up 9.4% from 110,000 baht end‑2025
- Prices have risen each year since 2022, from 84,500 baht in 2021 to 100,000 baht in 2024
- Q2 2026 price jumped to 150,420 baht per sqm versus 90,308 baht in Q1 2026
- Around 90% of new launches target premium segments near the Sukhumvit Line
- Mortgage approvals tightening for middle‑to‑lower income buyers, limiting affordable condo supply
- Diesel fell from over 50 baht/L in early April to under 35 baht/L.
- Restaurants still hold inventory bought at higher prices, keeping menu costs high.
- Lower fuel costs may lift consumer confidence, but rent, electricity, labour and ingredient costs remain unchanged.
- Cheaper oil eases transport costs for steel makers, yet cheap Chinese imports keep steel market pressure high.
- June headline inflation fell to 2.4% YoY, below the 2.7% consensus and within the BoT 1‑3% target band
- Core inflation rose slightly to 1.2% YoY, above the 1.1% forecast
- Bank of Thailand is expected to keep its policy rate at 1% at the Aug. 26 meeting and possibly through year‑end
- Energy price growth slowed to 13.7% YoY and food prices remained steady at 1% YoY
- Key risks include a rebound in energy costs or higher food prices from El Niño
- SEC found inconsistencies in filings for six companies covering stakes up to 80.9% between 2021-2025
- Investor Supaporn Pimphong reported a 7.09% stake in True worth 32 bn baht, now down to 3.69%
- Reported holdings include 9.99% in Major Cineplex, 5.1% in Kasikornbank, 5.01% in Bangkok Bank, 5.33% in Asia Aviation, and 80.9%/48.6% in GJ Steel
- SEC says the investor's name is absent from shareholder registers for five of the six firms; investigation ongoing
- Potential legal action if violations are confirmed, raising concerns over Thailand’s self‑declaration disclosure system
- BoT left the one‑day repo rate unchanged at 1.00% for the second consecutive meeting.
- Growth forecast for 2026 lifted to 2.3% from prior estimate.
- June headline inflation eased to 2.42%, within the 1‑3% target range.
- BoT projects inflation at 2.8% for 2024 and 1.4% for 2025, with 2026 expected above target due to energy costs.
- Governor said no rate hikes are needed for now; next review scheduled for Aug 26.
Other 35
- Global nuclear capacity forecast to reach 535 GW by 2036, up 44% from 2025 levels
- China to nearly double its nuclear fleet to 102 GW, overtaking the United States
- India plans to expand its nuclear capacity, adding to overall growth
- Installed capacity stands at 372 GW at end‑2025, implying a 163 GW addition over the decade
- Federal judge orders Trump to pay $5.8 million (original $5 million plus interest) to E. Jean Carroll.
- U.S. Supreme Court declined to hear Trump's appeal, allowing the payment to proceed.
- Trump has filed a new petition to the Supreme Court and continues to contest the $83.3 million defamation judgment.
- A U.S. district judge denied Kalshi's request to halt enforcement of New York's gambling statutes.
- Kalshi announced it will appeal the ruling to a higher court.
- The decision highlights ongoing legal questions over state versus federal regulation of prediction markets.
- Reservoir burst following torrential rain in Guangxi province
- Six fatalities reported
- At least 130,000 people evacuated
- Residents and volunteers start clearing flooded homes
- Data breach at U.S. insurer AssuranceAmerica exposed personal data of approximately 6.9 million individuals.
- Hackers accessed names, contact information, driver’s license numbers and auto‑insurance policy details.
- Breach was discovered on March 17, investigation concluded June 15; notification letters to be sent July 10.
- Incident follows recent driver’s license data breaches in Texas affecting about 3 million records.
- Company disabled compromised employee credentials; specific cause of the breach was not disclosed.
- Euclid identified 31 ancient quasars, including two at 13.1 billion years old (≈670 Myr after the Big Bang).
- The two earliest quasars shine about a trillion times brighter than the Sun.
- Their existence during the epoch of reionization poses a major unsolved problem for black‑hole formation, as the universe was too young for such massive black holes to grow.
- The findings imply supermassive black holes either formed already massive or grew far faster than current models predict.
- Pakistani navy and civilian teams recovered wreckage of the K2 Airways cargo plane off Karachi
- The aircraft departed Sharjah for Karachi and lost contact on Tuesday after reporting a navigation system problem
- Five crew members remain missing as search operations continue
- Investigation underway to determine cause of the disappearance
- British wildcard Arthur Fery (world #114) became the first Wimbledon wildcard to reach the men's semifinals since 2001.
- Fery will face Alexander Zverev, who defeated Taylor Fritz 6-4 6-4 6-2 to secure his first Wimbledon semifinal.
- Ukraine's 12th seed Marta Kostyuk beat Jasmine Paolini 6-3 6-2 and will meet Czech ninth seed Noskova in the women's semifinal.
- Noskova advanced by beating Elise Mertens 6-3 7-5, becoming the highest seed left in the bottom half of the draw.
- Justin Bieber joins Madonna, Shakira and BTS for the World Cup final halftime show.
- The performance will last 11 minutes, shorter than typical Super Bowl shows (13‑14 minutes).
- FIFA expects "a couple of billion" viewers for the halftime show.
- The show supports FIFA's Global Citizen Education Fund, targeting $100 million for children.
- Additional acts include Burna Boy, Gustavo Dudamel and a PS22 Chorus collaboration.
- Former Milwaukee County Circuit Court judge Hannah Dugan received a $5,000 fine and no jail time.
- A federal jury convicted Dugan of obstructing a federal proceeding but acquitted her of concealing a person.
- Prosecutors had recommended 15‑21 months in prison under sentencing guidelines.
- Dugan lost her judicial position and now carries a felony conviction.
- Effective July 12, USPS will increase the price of a first‑class stamp.
- This is the eighth postage increase over the last five calendar years.
- Seven prior hikes have occurred since 2019, averaging roughly one increase per year.
- A three‑judge D.C. Circuit panel denied Trump's bid to reinstate his name on the Kennedy Center.
- Judges found no evidence of irreparable harm or fundraising impact without the Trump name.
- The ruling leaves the Kennedy Center name unchanged while the appeal of the May 29 district‑court order continues.
- Egyptian and Cape Verde fans allege Argentine supporters threw beer bottles and waved the Israeli flag after Argentina's goals in round‑of‑16 and round‑of‑32 matches
- Incidents captured on video in Atlanta (vs Egypt) and Miami (vs Cape Verde) showing bottle‑throwing and abusive behavior
- FIFA has opened investigations into the fan misconduct but has not yet announced any sanctions
- French scientists installed ocean-floor monitoring equipment in 2024 and began data collection two months later
- Data captured a major spreading event on the Australian–Antarctic plate boundary within a short time window
- Most crustal spreading occurred in a brief burst, with key events lacking detectable seismic signals
- Findings provide new insight into the dynamics of mid‑ocean ridge spreading
- Two female students were seriously injured at Welfen grammar school in Schongau, Bavaria.
- Police arrested a 16-year-old suspect on Wednesday.
- Investigation considers a possible knife‑ramage, though weapon details remain unconfirmed.
- 72% cite financial stability and 58% home ownership as the American Dream, while just 35% include community (CNBC/SurveyMonkey, 4,130 respondents).
- Leisure socializing time dropped from 47 minutes in 2003 to under 35 minutes per day—a 26% decline (BLS).
- Nearly 75% of adults meet close contacts twice a month or less, and 29% rarely use phone or video calls (2025 Social Connection report).
- Harvard experts warn that isolation raises health risks and hampers career advancement.
- More than 70 mm of rain fell across Hong Kong within a 24‑hour period.
- Videos of flooded rivers and streets went viral on social media on Wednesday.
- Some users questioned the authenticity of the footage, but locals confirmed it was real.
- Flooding affected low‑lying villages and prompted residents to share on‑site videos.
- 35 disciplinary cases involving intern and resident doctors were recorded in the most recent year.
- The number of cases has nearly tripled compared to four years earlier.
- Health Secretary Lo Chung-mau presented the figures to the Legislative Council.
- Lawmakers are calling for stronger safeguards to uphold professional standards.
- Suzhou court ordered Molly Tea to pay 10.3 million yuan (~$1.5 million) to Louis Vuitton for trademark infringement
- Verdict attracted roughly 400 million views on Weibo, with a hashtag praising Molly Tea's public backing
- Some netizens say the case damaged their perception of Louis Vuitton
- Acting Minister for Culture, Community and Youth David Neo said ministers lack time to watch films
- Remark was made during a parliamentary session on Chinese dialects in movies
- Local arts groups criticised the comment as downplaying the cultural sector
- Heal Fertility clinic experienced a rare mix-up of embryo biopsy specimens.
- The clinic is linked to former Hong Kong financial secretary Antony Leung.
- Hong Kong health authorities and police have opened investigations into the incident.
- The case raises questions about IVF regulation and oversight in Hong Kong.
- Federal judge orders that specific segments of a video recorded by Kirk's former roommate be withheld from public release.
- The ruling is part of a defamation lawsuit filed by Charlie Kirk against the video’s creator.
- Court cited privacy and relevance concerns in deciding to seal the video excerpts.
- Retirement portfolio fell 33% to $2 million at age 89
- Potential long-term care expenses could further strain finances
- Emphasizes need for dedicated long-term care planning even after retirement
- FIFA upheld Olise's yellow card from the last‑16 win over Paraguay.
- Olise will miss the semifinal if booked again in the quarter‑final versus Morocco.
- Bradley Barcola and Manu Kone also risk bans after receiving yellow cards against Paraguay.
- Coach Deschamps said Aurelien Tchouameni's thigh injury is improving.
- Facundo Tello will referee the Thursday quarter‑final against Morocco.
- Earthquakes in Venezuela have killed over 3,500 people.
- The designer halted dress manufacturing to produce body bags for relief.
- His team is assisting recovery efforts in the hardest‑hit region.
- At age 73, the individual is earning a weekly income higher than ever before.
- Increased earnings may cause Social Security benefits to become taxable.
- Emphasizes the importance of tax planning to avoid unexpected bills on benefits.
- Jeffrey Ying, 39, sentenced after admitting to stealing a rare Chinese manuscript.
- He swapped the original 600-year-old work for a fabricated copy.
- Ying used multiple aliases and traveled to China after borrowing items from UCLA's library.
- The Pitt received the most Emmy nominations with 25.
- Hacks topped comedy categories with 24 nominations.
- The Pitt, a rookie series, secured wins in best drama, best actor, and best supporting actress.
- Noah Wyle and Katherine LaNasa earned repeat nominations for their roles on The Pitt.
- MTR Corporation unveils safety ads featuring 75‑year‑old actor Kent Cheng
- Campaign targets habit of walking on escalators, a common commuter practice
- More than 500 escalator‑related accidents reported each year in Hong Kong
- Capacity increased to 38,000 participants, 7,000 more than last year
- Exhibitor count rises to 201, up from 160 in 2025
- 27th edition scheduled to run from July
- Features live sketches by local comic masters and vintage toy collectibles
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- 41-year-old palliative care doctor convicted of killing 12 women and 3 men with lethal sedatives
- Murders took place during home visits between September 2021 and July 2024
- Court sentenced him to life in prison; prosecutors say dozens more killings are under investigation
- 49-year-old part‑time worker Masae Sakurai arrested in Ibaraki Prefecture
- Alleged assault took place on June 29, victim a 42‑year‑old roommate
- Police say the victim was sewn shut with needle and thread
- Women’s rights groups ask government to extend stricter consent definitions to cover honest‑mistake defence
- Current law permits defendants to claim a genuine but mistaken belief in consent, potentially undermining reforms
- Advocates warn the loophole could weaken new protections for sexual assault victims
- Legislative debate ongoing as Hong Kong seeks to tighten sexual crime statutes
- Survey of 572 Hong Kong youths aged 11‑24 conducted Sep‑Dec last year
- 54% of participants were in junior secondary school
- Frequent social‑media users reported higher loneliness than less‑active peers
- Respondents generally underestimated the negative mental‑health impact of social media
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