- S&P 500 futures down 0.1%, Dow futures down 84 points (‑0.2%) and Nasdaq futures flat
- Weekly index drops: S&P ‑1.6%, Nasdaq ‑2.9%, Dow ‑0.9%
- VanEck Semiconductor ETF (SMH) fell nearly 9% for a third weekly decline in four weeks
- WTI crude up ~3% above $85/bbl and Brent up ~3% above $91/bbl amid heightened U.S.-Iran tensions
- Earnings from Alphabet, Tesla and Intel due this week could steer market direction
July 19, 2026
▲ 21▼ 11◆ 5– 108
Markets 5
- KOSPI's AI sector weight rose from under 5% to roughly 12% in six months
- AI-related stocks on the KOSPI gained an average of 18% versus a 4% rise for the broader index
- Valuation multiples for top Korean AI firms hit P/E ratios above 30, up from 15 a year ago
- Market volatility (VIX-Korea) spiked to 22, its highest level since 2020
- Apple, Amazon, Nvidia and other Magnificent Seven stocks are showing earnings recovery
- Their combined weight drives a large share of US equity market performance
- A revived performance could lift broader market momentum after a period of stagnation
- Analysts view the resurgence as a potential catalyst for near‑term market upside
- Elevated inflation is squeezing consumer spending on packaged foods.
- GLP-1 weight‑loss drugs are reducing appetite, hurting demand for cereals and processed meals.
- General Mills (GIS) and Kraft Heinz (KHC) shares have lagged the broader market this quarter.
- Analysts have cut price targets, signaling a weaker outlook for the packaged‑food sector.
- Finance Minister Satsuki Katayama's comment pulled down long‑term JGB yields that had been rising.
- The yield drop came despite unchanged fiscal‑spending concerns that had previously lifted yields.
- The yen weakened slightly as bond yields fell, highlighting market sensitivity to policy remarks.
Macro/Economy 16
- Burnham inherits an economy with near‑zero growth for two decades and limited fiscal headroom
- UK debt interest costs about £110 bn in 2025‑26, roughly 8% of total public spending
- Taxes projected to reach their highest share of GDP since WWII by the end of the decade
- Relations with China strained after nationalisation of British Steel's Scunthorpe works
- Defence spending and new North Sea oil and gas drilling likely to be prioritised over welfare and net‑zero programmes
- EU nations rapidly expanded wind and solar capacity amid oil price shocks
- Energy storage deployment has not kept pace, creating surplus energy waste
- Negative electricity pricing incidents are rising during peak production hours
- Experts warn storage shortfalls could trigger the next energy crisis if not addressed
- BEA will revise methodology for core components of the Personal Consumption Expenditures (PCE) price index.
- The changes are expected to lower reported inflation rates in upcoming releases.
- The revamp comes as the Fed prepares for its next policy meeting, potentially easing rate pressure.
- Analysts warn the new figures could alter market expectations for future monetary tightening.
- ASEAN foreign ministers gather in Manila, joined by the US, China, Russia, Japan, Australia, Canada and the UK
- Bank Indonesia likely to continue rate hikes as the rupiah hits record lows and capital outflows rise
- South Korea revises Q2 GDP upward, driven by an AI-led chip boom and strong semiconductor exports
- Council stresses policy continuity and timely project delivery as essential for EEC investment
- High‑speed rail delays could postpone investor commitments; medium‑speed rail seen as faster, lower‑cost option
- Government urged to accelerate rail, road, port, airport and digital infrastructure and adopt a digital one‑stop licensing service
- Workforce development should focus on semiconductors, AI, EVs, robotics and aviation to meet investor needs
- Clean energy expansion and stable electricity supply highlighted as vital for future industries
- Global pet care market projected at $207 bn in 2025, expanding ~5% annually
- Thailand accounts for roughly 10% of worldwide pet food exports, second only to Germany
- Cat food market expected to grow ~6% per year (2020‑2025), outpacing dog food's 3.8% growth
- Annual cost of owning a dog ranges $1,390‑$5,295; cats $760‑$3,495 (Rover 2025 report)
- Pet industry viewed as recession‑resistant, with spending persisting during economic downturns
- Thailand recorded about US$10 bn in disbursed foreign investment last year, versus Vietnam's US$27 bn.
- Suphachai urges focus on Chongqing and Sichuan to attract high‑tech investors, especially in semiconductors and electronics.
- The roadshow aims to boost Thailand's FDI inflows and support GDP growth by positioning the country as a reliable manufacturing hub.
- Chinese investors stress legal, tax and government support to reduce investment risk.
- PPP investment slated to exceed 130 billion baht over the next three years.
- 20 projects approved out of 140 submissions, representing about 300 billion baht in value.
- Planned rollout: 20 billion baht this year, 40 billion baht next year, and 73 billion baht in 2028.
- Private investors seek returns of 10% or higher; projects offering only 8‑9% may struggle to attract funding.
- Hong Kong announces its inaugural five-year development plan, the first such framework for the city.
- The plan seeks to shore up market governance and provide a clear long‑term economic vision.
- Critics caution it may increase government intervention and resemble mainland planning without concrete KPIs.
- Authorities assert the plan will complement, not duplicate, the annual policy address and budget.
- U.S. firms hold cash balances at record levels, the highest in recent years
- Companies are redirecting a larger share of cash into capital spending and acquisitions
- Morgan Stanley expects the increased investment to boost earnings growth in the near term
- 49% of renting households spend over 30% of income on housing, per Harvard study
- 38% of surveyed voters say Democrats would handle housing better versus 32% for Republicans
- Housing costs tied for fourth-most important issue overall, behind food, democracy, and immigration
- Among voters 18-34, housing is the top political issue, outranking food and protecting democracy
- Investors and Indonesian policymakers gathered in Bali to advance the ASEAN power grid plan.
- Rising AI and data centre electricity demand is fueling optimism for the cross‑border grid.
- The region's energy transition and infrastructure needs are attracting new investment interest.
- Wealthy European clients are increasingly looking to set up family offices in Hong Kong
- BNP Paribas notes growing two‑way capital flow between Europe and mainland China
- High‑net‑worth mainland investors are also seeking opportunities in Europe
- 2.76 million (≈30% of rejected applicants) filed appeals on July 17‑18 for the 2026 welfare card.
- Another 6.55 million unsuccessful applicants can still submit appeals until July 31.
- Of 18.8 million total applicants, only 9.5 million qualified, down from 13.2 million under the previous scheme.
- Vehicle ownership exceeding limits was the top disqualification reason, affecting about 1.45 million applicants.
- Applicants with debts, income or assets over 100,000 baht were also rejected, including 668,000 for debt.
- Intangible cultural heritage and traditional handicraft sales reached 100 billion yuan (≈US$14.8 bn) annually in China.
- The market surge was spotlighted by Elon Musk's son wearing a tiger‑head bag during President Trump's Beijing visit.
- Industry data shows a continued rise in online transactions for heritage products, indicating growing consumer interest.
- Costco's matching contributions exceed the typical employer match rate
- Generous 401(k) plans can significantly increase employee retirement savings
- Enhanced benefits are used by firms to attract and retain talent
Energy/Oil 5
- Crude oil prices climbed, pushing WTI higher on the back of heightened Middle East tensions
- U.S. stock-index futures were flat, with S&P 500 futures showing little movement
- Escalation of fighting between the United States and Iran added geopolitical risk to oil markets
- Investors await key technology earnings later in the week
- Crude prices rose as worries about supply disruptions in the Middle East intensified
- Market participants flag heightened risk of production cuts from the region
- Investors await OPEC's response and potential impact on global oil supply
- US President Donald Trump praised potential approval of new oil and gas drilling in the North Sea.
- Incoming UK prime minister Andy Burnham has not confirmed any decision on the Rosebank and Jackdaw fields.
- If approved, the projects could boost North Sea output and support higher Brent and WTI prices.
- Millions of Americans own oil and gas mineral rights but often lack clear knowledge.
- Rights are frequently inherited or assumed with land purchases, leading to confusion.
- A niche industry of landmen, mineral buyers, and finders profits from this knowledge gap.
- ConocoPhillips (COP) offers a 3% dividend yield ($3.36 annual) with a $183 price target and 2.2 MMboe/d production guidance.
- Energy Transfer (ET) provides a 6.8% yield; analysts keep buy rating, target $23, and forecast 4.8% CAGR EBITDA 2027‑2030.
- Chevron (CVX) yields 3.92%; price target lowered to $216, Q2 EPS expected $5.86, and production forecast 4,033 mboepd.
Crypto 8
- Treasury, OCC, FDIC and other agencies missed the July 13 deadline, issuing 10 proposed rules but no final regulations
- Treasury released four NPRMs, OCC two, FDIC one, and NCUA one covering registration, AML and supervisory standards
- Anchorage Digital urged Congress to pass the CLARITY Act amid ongoing stablecoin regulatory uncertainty
- Galaxy Digital lowered the odds of the CLARITY Act passing in 2026 to 50% due to legislative delays
- GENIUS Act, enacted a year ago, gives foreign stablecoin issuers two years until July 2028 to meet compliance
- Around 25% of USDT reserves are held in assets such as precious metals, lending and bitcoin that don’t satisfy the Act’s standards
- Failure to revamp could see USDT removed from U.S. centralized crypto platforms after the safe‑harbor expires
- Circle has taken pre‑compliance steps, positioning it ahead of Tether in the U.S. market
- Tether introduced USAT, a U.S.-compliant stablecoin, but its adoption remains limited
- BIP-110 proposes a one‑year soft fork with a 55% miner‑signaling threshold, down from the usual 95%
- The plan would cap data payload sizes and restrict certain script executions to curb "spam" data
- Saylor warns the change could trigger network splits, weaken miner incentives and undermine Bitcoin's neutrality
- He holds 843,775 BTC (~$54.3 bn) and says the proposal threatens institutional confidence
- Kraken introduces USD-settled BTC and ETH options on Kraken Pro
- Options remain underdeveloped due to existing products being built for institutions
- Kraken plans to expand offering with order book, broader geographic availability, and additional assets
- Financial regulator starts sanctions proceedings under Korea's Virtual Asset User Protection Act
- Act does not specify penalties for hacking or similar incidents, creating legal ambiguity
- The move could curb Upbit's operations and affect confidence in Korea's crypto sector
- Proof generation takes 243 ms and verification 40 ms on a laptop, ~60× faster than prior work
- Prototype remains unaudited, lacks Taproot support, and would need blockchain rule changes to be applied
- BIP‑361 could freeze >34 % of Bitcoin supply; new proof could unlock frozen coins except those without a derivation path, like Satoshi's ~1.1 M BTC
- Zakura node released v1.0.0, enables fast sync in under 2 minutes – 680× faster than previous client
- Targets processing 50,000 transactions per second, matching Visa/Mastercard floor
- Supports Ironwood (NU6.3) upgrade activating July 28, adding a turnstile to cap withdrawals
- Prunes blockchain to ~11 GB and, via Project Tachyon, seeks to reduce consensus data from 100 MB/s to 500 MB/s
- AZ‑COM Maruwa will roll out JPYC stablecoin for payments to about 2,300 subcontractors
- The move marks the first large‑scale corporate adoption of JPYC in Japan
- Payments such as outsourcing fees will be fee‑less and faster for partners including truck drivers
- Amazon Japan is among the company's key clients benefiting from the new system
Geopolitics 30
- Third U.S. service member killed, raising total U.S. fatalities to 17 since February
- U.S. carried out its eighth straight night of strikes against Iranian targets
- Oil flow through the Strait of Hormuz reported at just under 7 million barrels per day, with recent vessel crossings down to 8
- U.S. gasoline prices rose above $3.99 per gallon, up from $3.87 a week earlier
- Iran suspended its commitments to the interim memorandum of understanding with the United States
- 41 missiles of various types were launched in the overnight attack on Kyiv
- At least one civilian was killed and 16 people were wounded
- Residential buildings, warehouses, a supermarket and a dormitory were damaged
- Kyiv's air defence systems were reported to be running low during the barrage
- President Zelensky and Kyiv mayor confirmed the scale of the attack
- US carried out a ninth consecutive night of airstrikes targeting Iran in retaliation for the death of a U.S. service member.
- Iran responded with ballistic missiles and drones at Bahrain, Jordan, Kuwait and Iraq, causing fires and damage to power and desalination plants.
- Strait of Hormuz traffic fell to four vessels on Sunday, down from eight the previous day, reflecting reduced shipping amid tensions.
- Escalation is likely to push markets into risk‑off mode, supporting safe‑haven assets like the U.S. dollar and gold.
- Supreme Leader Mojtaba Khamenei calls for “sacred unity” as US-Iran clashes enter eighth night
- The recently signed US-Iran memorandum of understanding has been suspended amid hard‑line backlash
- Iranian military and political leaders pledge a unified response while strikes continue over the Strait of Hormuz
- Washington removed sanctions on nine Hong Kong and mainland Chinese officials, including Justice Secretary Paul Lam
- Observers call the move a "friendly gesture" aimed at easing US‑China tensions after the May summit
- Sanctions on dozens of other officials remain, showing the policy shift is limited in scope
- The decision follows the recent meeting of the US and Chinese presidents, hinting at a diplomatic thaw
- The US marks its 250th anniversary while its pool of China experts is shrinking.
- Academic exchanges with China have declined sharply, limiting on‑the‑ground knowledge.
- Growing geopolitical tensions risk eroding U.S. hard‑tech and soft‑power insights on China.
- US launched air strikes against Iran's Islamic Revolutionary Guard Corps on Sunday
- Strikes are retaliation for the killing of American troops in Jordan
- Operations are part of a weeklong campaign after an interim deal to end the Iran war collapsed
- Targets included bridges and other infrastructure within Iran
- US military death toll in the Iran war rises to 17 soldiers
- Soldier killed during controlled detonation of unexploded ordnance from an Iranian drone in northern Iraq
- Another soldier suffered minor injuries and remains under medical care
- Thousands of Israelis, including settlers and right‑wing activists, gathered near the Gaza fence on Sunday.
- Protesters marched toward the border, calling for the re‑establishment of Israeli settlements in the area.
- Israeli security forces deployed to block participants from advancing further into the border zone.
- President Joseph Aoun will travel to Washington for his first White House visit in nearly 20 years
- Aoun will present a plan to disarm Hezbollah, the Iran‑backed militant group operating in Lebanon
- The agenda includes securing a withdrawal of Israeli forces from Lebanese territory
- Russian forces launched three cruise missiles at the cargo vessel Golden Leo.
- The strike killed six crew members, including Syrian and Indian nationals.
- The ship, flagged by Guinea-Bissau, was carrying grain and leaving the combat zone.
- Incident follows a fresh Russian missile barrage on Kyiv earlier that day.
- DOJ submitted the inaugural application to the five‑member Alien Terrorist Removal Court, created in 1996
- The court, which has never received a petition before, held a hearing and asked for additional information
- Judge Joan Ericksen directed the department to provide more details by the following Wednesday
- The move follows the administration's broader push to deport individuals deemed 'alien terrorists'
- Andy Burnham confirmed as Labour leader and UK prime minister, the seventh in a decade
- His rise follows a period of weak economic growth, rising living costs, and immigration debate
- Burnham will inherit foreign policy challenges, notably the conflicts in Ukraine and Iran
- Political analysts anticipate a shift in UK governance style under Burnham's leadership
- At least 50 Malian soldiers killed in convoy ambush near Anefis, northern Mali
- The convoy included Malian army and Russia's Africa Corps forces
- Tuareg separatists and al Qaeda-linked fighters claimed responsibility
- Footage showed captured soldiers, destroyed vehicles and bodies at the scene
- Interior Minister Anas Khattab also appointed head of the National Security Bureau
- Abdul Qader Tahan named chief of the General Intelligence Service, reporting to Khattab
- Reshuffle follows recent Damascus attacks that killed at least 10 people
- U.S. announced removal of Syria from state sponsors of terrorism list during Trump meeting
- French President Macron met al-Sharaa, restoring full diplomatic relations with Syria
- Since 2019, Moscow and Beijing have been labeled "comprehensive strategic partners of coordination for a new era".
- Both nations continue to coordinate to counter perceived Western dominance in global affairs.
- Kremlin spokesman Dmitry Peskov publicly addressed a Wall Street Journal piece on the partnership on July 14.
- Delegates from the US-China Economic and Security Review Commission are on their first China visit in seven years.
- The mission will meet Chinese officials, academics and industry leaders in AI, biotechnology and robotics.
- Discussions aim to evaluate how the bilateral trade relationship impacts US national security.
- German conventional forces will take part in a French-led nuclear exercise before year‑end
- The agreement highlights growing European defence self‑reliance amid doubts over US security commitments
- France and Germany aim to deepen nuclear cooperation as part of broader European security integration
- Yunnan holds nationally leading reserves of gallium, rare earths and other strategic minerals.
- The province's land corridors to Southeast Asia could reduce China's reliance on the Malacca Strait.
- Researchers say Yunnan's resources are essential for China's defence industry mobilisation and supply‑chain security.
- Indonesia initially sent only its ambassador to Ayatollah Khamenei's funeral in Tehran.
- The minimal delegation was criticized as a diplomatic snub toward Iran.
- Analysts suggest US pressure may have shaped Jakarta's cautious stance.
- The episode underscores tensions in Indonesia's non‑aligned, "good‑neighbour" foreign policy.
- Prime Minister Narendra Modi conducted a six‑day tour of the Indo‑Pacific (July 6‑11), visiting Indonesia, Australia and New Zealand.
- India signed a series of agreements to boost defence, trade and technology cooperation with the three middle‑power partners.
- Analysts view the outreach as New Delhi’s effort to build “practical” alliances while US security commitments in the region become uncertain.
- The Strait of Hormuz disruption highlights vulnerability of key oil transport routes
- IPAG chair calls for stronger energy, food, infrastructure, logistics, and data resilience
- Proposes a coordinated global 'shield' to mitigate future systemic shocks
- Japan will deliver defense aid valued at 500 million yen (about $3.08 million).
- Aid includes army communications equipment and naval patrol boats.
- First assistance to Cambodia under Japan's Official Security Assistance program.
- Program targets militaries of friendly Southeast Asian nations.
- Campaign aims to refute claims that a ceasefire ended the conflict in Gaza.
- Organizers argue hostilities and humanitarian crisis persist despite ceasefire talks.
- Movement uses social media hashtags to draw international attention to ongoing violence.
- Israel's PM office publicly condemned NY Mayor Zohran Mamdani for suggesting a possible arrest at the upcoming UN summit.
- The criticism was posted on the prime minister's official X account, accusing the mayor of diverting attention from his policies.
- The exchange underscores rising political tension ahead of the United Nations meeting.
- U.S. Marshals arrested Andrew and Tristan Tate in Miami on a sealed warrant.
- Britain seeks extradition on rape and sex‑trafficking charges, adding 38 new allegations.
- The brothers face multiple charges, including 19 related to indecent images of a child and extreme pornography.
- They were previously detained in Romania in 2022 and released to fly to Florida last year.
- Their social‑media accounts have been banned from major platforms for hate‑speech violations.
- All 90 members of Hong Kong's Legislative Council travel to Beijing for the first time
- Visit lasts one week, intended to align Hong Kong policies with national development goals
- Council president Starry Lee highlights the trip's role in gaining first‑hand understanding of national affairs
- No immediate legislative or policy changes announced during the trip
Tech/AI 22
- Japan commits up to ¥1 trillion ($6.2 bn) over five years to the Noetra AI factory, slated to launch in 2028 with 13,750 CPUs and 27,500 GPUs
- Major Japanese manufacturers—including Fanuc, Yaskawa, Kawasaki Heavy, Fujitsu, Hitachi, Sony, SoftBank, and Toyota—agree to build on Nvidia’s Cosmos models and Jetson chips
- Japan aims to deploy 10 million AI‑equipped robots across 18 sectors by 2040, targeting >30% of the global AI‑robotics market valued at ¥20 trillion ($133 bn)
- Nvidia’s Vera Rubin AI factory will consume 140 MW of power, supporting trillion‑parameter models for physical AI
- Apple filed a trade‑secrets lawsuit on Friday, alleging misuse of confidential information by OpenAI staff
- The complaint cites more than 400 former Apple employees now working at OpenAI
- OpenAI’s planned hardware product – a mobile smart speaker – could face delays due to the legal dispute
- The lawsuit may affect OpenAI’s IPO timeline, projected for late 2024 or early 2025
- Uber opposes D.C. bill allowing autonomous vehicles, citing monopoly concerns
- Waymo supports bill, has already surpassed testing requirements
- Tesla and other companies object to mandatory testing and fees
- Current AI allocates $3.2 million in grants to projects across four organizations
- Launched open-source AI chatbot Alpha Chat at the AI for Good Summit in Geneva
- Aims to build open, public AI infrastructure for underrepresented languages and communities
- Starship launch attempt now set for Thursday
- Launch follows a prior delay from earlier this week
- SpaceX targets its first integrated test flight of Starship
- TSMC forecasts sustained strong demand for AI chips over the next several years
- The company will accelerate its Arizona fab expansion to meet that demand
- Growth in AI chip orders underpins TSMC's long‑term revenue outlook
- Positive outlook bolsters bullish sentiment for the semiconductor sector
- Two independent studies pinpoint the physical mechanisms behind solid-state battery short circuits.
- Microscopic lithium dendrites were found to grow and pierce the solid electrolyte barrier.
- The findings turn a long‑standing mystery into a defined engineering problem for commercialization.
- Vikram-1 lifted off at 01:35 am EDT (06:35 UTC) on Saturday from Sriharikota spaceport
- Rocket placed a payload into a 280‑mile (≈450 km) low‑Earth orbit
- Vehicle is 22 m tall and can carry up to 350 kg (770 lb) to LEO
- First fully commercial Indian launch, signaling a shift toward private space capability
- BofA expects AI-driven growth to flow to smaller, less‑covered companies outside the semiconductor space
- Mega‑cap names are seen as overvalued and crowded, prompting a shift toward niche AI players
- Research highlights potential upside for firms with emerging AI applications not yet on investors' radars
- Compute capacity is being priced and traded similarly to traditional commodities
- Greater price transparency is driving commoditization of cloud services
- Bernstein forecasts tighter margins and heightened price competition among providers
- The shift could spawn new financial products linked to compute usage
- Investors may start treating compute assets as a distinct commodity exposure
- AI-generated media and autonomous agents have spread misinformation, eroding online trust
- Detection accuracy can drop to as low as 4% with simple blur or distortion
- More than 1,000 AI-related bills were introduced in U.S. states in 2025, indicating regulatory scramble
- Zero-knowledge proofs could enable verifiable, privacy-preserving audits of AI decisions
- ZK proof adoption parallels HTTPS's role in restoring trust on the early web
- 43% of U.S. workers say they use AI for their jobs, according to a Federal Reserve Bank of St. Louis study.
- Relying on AI for critical thinking can cause stagnation, mediocrity, and loss of independent judgment.
- Drafting emails or messages with AI may gradually erode trust among colleagues.
- Younger employees risk skill loss if AI replaces core thinking tasks.
- AI is best suited for summarizing, data analysis, and organization, not for replacing human judgment.
- Qwen3.8-Max-Preview released via Alibaba's Token Plan, Qoder and QoderWork platforms
- Model boasts 2.4 trillion parameters, positioned as second to Anthropic's Claude Fable 5
- Marks a significant step in China's AI capabilities, though no immediate market impact noted
- Seven developing countries have begun using the Mazu AI-powered weather warning platform.
- Mazu provides early alerts for typhoons and heavy rain, aiming to reduce disaster impact.
- China's chief meteorologist calls the system an international public good.
- Deployment highlighted ahead of the World AI Conference in Shanghai.
- Four-day World Artificial Intelligence Conference in Shanghai featured new AI agent offerings from Ant Group, Tencent, Alibaba and Baidu
- The firms aim to capture growing enterprise demand for AI agents as adoption accelerates in China
- Products focus on integrating AI agents into business workflows and client services
- China aims to conduct its first planetary‑defence mission by 2030, using a Mach 26 projectile to strike an asteroid.
- The mission intends to directly alter the asteroid's orbit relative to Earth or potentially fragment the object.
- The plan is positioned as a more ambitious follow‑up to NASA's DART test, which only nudged an asteroid's trajectory.
- Family-run firms in mainland China are quicker to implement advanced AI than larger companies
- Market agility identified as a decisive factor for future AI leaders
- Steady power supplies seen as essential for sustaining AI competitiveness globally
- A recent survey finds a higher proportion of UK chief financial officers now view AI as a growth driver
- Optimism rises compared with last year, with more executives planning AI investments
- CFOs cite efficiency gains and competitive advantage as primary benefits of AI
- Merger of ASTRI and NAMI completed in April 2026.
- New hybrid AI‑advanced material technologies displayed at LEAP East.
- Integration cited by CTO Ying Huang as enabling tangible tech outcomes.
- Nolan likens AI to a “transparent Trojan horse” that hides hidden risks
- He observes strong skepticism toward AI, especially among younger people
- The Directors Guild secured generative‑AI protections in its latest contract
- Nolan stresses a “techno‑skeptical” stance, balancing new tech with traditional film
- Finance Secretary Paul Chan proposes Hong Kong as launch pad for mainland Chinese AI firms expanding overseas
- He highlighted both opportunities and risks associated with rapid AI development
- The push follows President Xi's call for AI to drive shared prosperity globally
- Changzhou announces plan for a green-powered AI token factory
- Factory aims to produce 60 trillion tokens annually once operational
- Project aligns with Beijing's push for clean energy to meet AI compute demand
- Announcement made during the World Artificial Intelligence Conference in Shanghai
Companies 16
- TSMC commits an additional $100 bn to its Arizona fab, lifting total Arizona pipeline to $265 bn
- Full‑year capital expenditure raised to $60‑$64 bn as the company accelerates 5nm to 3nm and targets 2nm production
- Phase‑one 4nm fab is already operational; 2nm node expected to drive revenue from Q3 onward
- TSMC shares up about 1% after earnings, up roughly 48% year‑to‑date despite a recent 7% dip
- Samsung Biologics offered a $1.46 bn cash offer to acquire PolyPeptide.
- The transaction seeks to broaden Samsung Biologics' contract manufacturing capabilities.
- Deal completion will depend on regulatory clearance and shareholder approval.
- The bid reflects Samsung Biologics' strategic push into larger biopharma services.
- Netflix agreed to pay $587 million in cash for InterPositive.
- InterPositive's AI tools address missing shots, background replacements, and lighting issues in post‑production.
- Netflix reported that roughly 300 of its titles have already used generative AI.
- Ben Affleck will join Netflix as a senior advisor and the InterPositive team will be integrated.
- Bloomberg suggested the deal could be valued up to $600 million.
- Jingye Group, former owner of British Steel, filed a claim for compensation after the UK took control of the firm.
- The nationalisation occurred last week, following concerns that Jingye might shut the Scunthorpe blast furnaces, the UK's only virgin‑steel plant.
- No specific compensation amount was disclosed, and the dispute adds tension to UK‑China business relations.
- Boeing says the next Air Force One will be delivered in 2028, staying on schedule.
- Program costs have risen, pushing the project budget higher (exact amount not disclosed).
- The aircraft will feature advanced communications and defensive systems for the U.S. president.
- Boeing highlighted continued production of its current aircraft lineup.
- No major new order announcements were expected during the event.
- The strategy aims to meet existing backlog and improve delivery schedules.
- Eli Lilly announced acquisition of AtaiBeckley for up to $3.8 bn.
- Atai’s lead candidate BPL‑003 (5‑MeO‑DMT) has Breakthrough Therapy Designation and is in Phase 3, with a projected $1‑2 bn market by early 2029.
- Recent psychedelics trials, such as Definium’s LSD drug DT120, posted a 50% share jump after positive Phase 3 results.
- President Trump's executive order accelerates FDA review of psychedelic therapies.
- Samsung Electronics America eliminated 739 roles in Englewood Cliffs, NJ, and about 100 jobs in Plano, TX.
- Most affected employees received relocation offers; a portion were laid off.
- Cuts occur as Samsung's chip division forecasts a 19‑fold Q2 profit rise while its mobile unit may post its first loss.
- The headquarters shift follows a broader trend of tech firms relocating to Texas for lower taxes.
- 77 S&P 500 companies, including Alphabet and Tesla, will release Q2 results this week
- Around 88% of the ~50 S&P 500 firms that have reported so far beat earnings expectations
- GM earnings expected to grow >25% YoY; Tesla forecast earnings up 25%; Alphabet projected revenue growth >20%
- IBM anticipated earnings growth >5% but stock fell 25% after weak preliminary figures
- Intel projected year‑on‑year revenue growth >12% for the quarter
- 3 million new users joined Kalshi during the 2026 World Cup.
- Over $1.2 billion traded on Kalshi’s World Cup winner contract, a record for a single market.
- Kalshi partnered with ADI Predictstreet, OpenAI, and high‑profile athletes to boost brand visibility.
- Regulatory scrutiny remains as states argue sports contracts resemble betting.
- Post‑World Cup trading volume drops, posing a challenge to retain active traders.
- American Airlines trails United and Delta by $3bn and $5bn in profit respectively
- CEO Robert Isom targets closing the gap with premium upgrades, new lounges and wide-body aircraft
- Forecast adjusted earnings of $0.64 per share for 2024, about 80% higher than last year
- New 70‑seat Business Suites could generate up to $10,000 per seat on long‑haul routes
- Plans to open a 37,000 sq ft Admirals Club lounge at Dallas/Fort Worth hub
- Casio Computer's shares gain momentum amid rising demand for its low‑priced Casio Watch line
- G‑Shock sales are declining in the Chinese market
- Company will invest growth using cash reserves to narrow gap with rivals
- No specific financial figures disclosed; impact seen as modest
- Mitsubishi Corp. and ADM will study production of sustainable aviation fuel using soybeans and corn
- The joint effort aims to create greener jet fuel with lower lifecycle CO2 emissions
- Mitsubishi is considering investments exceeding $600 million in food‑related areas to support the project
- Mardie salt project slated to move to next development phase in Q4 2026
- Announcement made during BCI's earnings call
- Project timeline aligns with company's growth strategy
- NT extends Thaicom 4 retirement to end‑September 2026 after two prior extensions
- Monthly management fee of 10 million baht for Thaicom 4 will be halted after mid‑2024
- Launch of replacement Thaicom 9 delayed to Sept 30 2027 due to Astranis production failures
- NBTC approved use of Koreasat capacity as interim service for affected customers
- Satellite cannot maintain orbital position beyond July 31, 2026 because of power constraints
- ONE LS4-UI fund (~3‑3.5 bn THB) requests up to five-year liquidation extension
- US life‑settlement secondary market liquidity has sharply declined
- Cash reserves cover only 10‑20% of NAV, mainly for premiums and expenses
- Proposed closed-end structure aims for repayments over 5 years, first payout possibly H1 2025
- Unitholder vote due end‑July; rejection could trigger redemption gates
Thai Markets 5
- Government vows to push ahead with the 224.5-billion-baht project despite delays
- Concessionaire Asia Era One wants to terminate the construction agreement, but the government says it cannot be cancelled unilaterally
- Industrial investment has shifted focus to operational infrastructure, and cancelling the rail project could dent confidence in the government's ability to deliver mega-projects
- Thailand secured more than 70 bn baht in investment commitments from Chinese firms
- Around 50 bn baht will expand existing projects and over 20 bn baht will fund new projects
- Changan Automobile will double EV output to 200,000 vehicles at its Rayong plant
- InnoLight Technology plans to create over 20,000 jobs and collaborate with Thai engineers
- Xiaomi discussed setting up a smart‑home and IoT manufacturing base in Thailand
- Maybank finalises a five-year transformation, moving from a transaction‑focused broker to a full‑service investment advisory firm
- The new Maybank Invest (MBi) platform aims to bring professional portfolio construction tools to mass‑affluent investors
- Private fund offering lowers minimum investment to 5 million baht, down from the previous 25‑50 million baht threshold
- The strategic pivot targets long‑term wealth creation as Thailand's equity market remains weak
- LG Electronics Thailand reports 10% YoY AC sales increase in H1 2026, expects 15‑20% growth in H2.
- Mitsubishi Electric targets 10% AC sales growth this year, citing 10‑20% YoY gains during hot season.
- Extended heat wave projected through September, with average temperatures 0.5‑1°C above normal, boosting demand.
- Weak consumer spending and influx of low‑cost Chinese brands may shift market share toward cheaper products.
- Occupancy target of 97% for 2025, up from current 80%
- Retail occupancy rose to 80% (from 75% last year, 63% in 2024) and aims for 83% by year‑end
- Weekday footfall ~18,000 and weekend ~25,000; vintage markets add over 10% extra traffic
- New attractions include HarborLand indoor playground, a 2,000 m² fitness centre, and Museo Auto Classica drawing 300 daily visitors
- Russian tourists now the largest international market; upcoming M82 motorway and resumed Kuala Lumpur flights expected to boost access
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- Spain beat Argentina 1-0 in the World Cup final
- The victory gives Spain its second World Cup championship
- Celebrations erupted across Madrid after the win
- FBI managers received written notice ending investigations of assault claims against ICE agents
- Investigations may shift to DHS, which lacks civil‑rights jurisdiction, potentially reducing accountability
- At least seven people have been shot by ICE agents since January 2025, including two deaths in July 2024
- Two quakes of magnitude 5.1 and 3.7 struck Junin region, Peru
- At least six fatalities and 21 injuries reported
- Epicenters were in Chupaca province, about 300 km east of Lima
- Depths were 24 km for the first quake and 18 km for the second
- Domestic opening weekend gross $124.5 million, Nolan's third‑best domestic debut
- IMAX contributed about 24% of domestic earnings, roughly $30 million in ticket sales
- Global weekend total reached $264.1 million, with $139.6 million from overseas markets
- Premium large‑format screenings accounted for 45% of domestic tickets; 70mm screens 5%
- Half of moviegoers were aged 18‑34, indicating strong appeal to younger audiences
- Prosecutors declined to charge businesses in several recent cases
- Senior employees were believed to be involved but were not charged
- The shift signals a reduced enforcement focus on corporate wrongdoing
- Donald Trump arrived at the 2026 World Cup final in the New York‑New Jersey stadium via Marine One.
- The final match featured Spain against Argentina.
- Ivanka Trump posted video of the helicopter flyover shortly before kickoff.
- Ferry MV Barima capsized off Guyana's coast with 133 people aboard
- 67 passengers rescued while 66 remain missing
- Voyage was from Georgetown to Port Kaituma in the oil‑rich Essequibo region
- Draft aims to broaden access to assisted reproductive technology and tighten regulatory oversight
- Terminology updated from "husband and wife" to "spouses" to align with marriage equality laws
- Penalties for human trafficking increased; eligibility for foreign couples revised and export of gametes permitted
- Public comments accepted until July 31 via www.law.go.th
- Six host nations (Spain, Portugal, Morocco, Uruguay, Argentina, Paraguay) spanning three continents
- Centenary matches on June 8‑9 in Uruguay, Argentina and Paraguay; main opening matches June 13‑14 in Morocco, Portugal and Spain
- Tournament will feature 48 teams, with a proposal under review to expand to 64 teams
- Final scheduled for July 21; 42 remaining spots to be decided through continental qualifiers
- Next World Cup after 2030 slated for 2034 in Saudi Arabia
- Two quakes measured 5.1 and 3.7 magnitude hit Junin region east of Lima
- At least five people confirmed dead and 21 injured
- Approximately 48 homes destroyed and 18 damaged, displacing about 300 people
- Influencer Georges Hana Dib, known as Dr Food, received life sentence with hard labour.
- He was fined 120 million Lebanese pounds (≈$1,341) for trafficking hashish hidden in cake packaging.
- The case involved 820 kg (1,800 lb) of hashish seized in a 2024 bust.
- Dib and co‑accused were tried in absentia and stripped of civil rights.
- The influencer, with over five million TikTok followers, remains at large.
- Emmanuel Kelly, an Iraqi-born singer with prosthetic limbs, will appear in the World Cup final half-time show.
- The half-time lineup includes Shakira, BTS, Justin Bieber and Madonna, curated by Chris Martin.
- Kelly rose from a 2011 X Factor appearance to opening for Coldplay's 2024 Australian tour.
- Winner of the 2026 World Cup will be awarded $51 million in prize money
- Total prize fund for the tournament is $871 million across 48 participating teams
- All 48 teams receive at least $12.5 million, including $10 million for group-stage participation
- Runner‑up receives $34 million; third place $30 million; fourth place $28 million
- FIFA also covers business‑class flights, lodging and travel for each federation's delegation
- Development Minister Bernadette Linn vows tighter monitoring of construction contractors.
- Authorities will explore harsher penalties for industry misconduct linked to the Tai Po blaze.
- Minister defends current regulatory system, stating violations are already penalised.
- Warmer, wetter climate pushes mosquito ranges into historically temperate New England
- Connecticut's monitoring program logged 54 mosquito species, including invasive Asian tiger mosquito
- Asian tiger mosquito can transmit diseases such as dengue and Zika
- Enhanced surveillance deemed crucial to curb disease spread as vectors move north
- Tourism Board unveils 'Only in Hong Kong' campaign to promote experiential travel
- Campaign showcases mahjong games, tram rides, hidden beaches and Kai Tak Stadium
- Aim is to differentiate Hong Kong by encouraging visitors to feel the city, not just see it
- Monorail line spans nearly 57 km, making it the world's second-longest single-route after China's system
- Designed to connect Cairo with the new desert capital, aiming to serve commuters and tourists
- Steep fares have drawn criticism and ridership remains low shortly after launch
- Project reflects Egypt's push for large‑scale infrastructure despite early operational challenges
- Vice President JD Vance confirms the birth of his son
- The new addition expands Vance's family
- No immediate impact on policy or markets expected
- Star-studded halftime show featured Madonna, Shakira, Justin Bieber, BTS and Coldplay.
- Included a tribute to Pele and a "Seven Nation Army" performance led by Gustavo Dudamel.
- First-ever halftime entertainment in a World Cup final, styled like a Super Bowl spectacle.
- Thousands of Spanish and Argentine supporters assembled in Midtown Manhattan for the final.
- Mayor Zohran Mamdani emphasized reduced-price tickets and citywide public watch parties.
- New York's diversity highlighted, with the city speaking over 700 distinct languages.
- Former President Donald Trump attended the final alongside FIFA President Gianni Infantino.
- 19-year-old woman detained by Hong Kong police for falsely claiming explosives in Kwai Chung office
- Searches found no suspicious items; authorities deem the incident a prank
- Arrest followed online patrol identification of a social media post alleging the bomb threat
- Spain won the final 2-1 to secure the World Cup championship.
- Substitute Fernando Torres netted the winning goal in the closing minutes.
- The triumph marks Spain's first World Cup title since 2010.
- Boat sank on Wednesday due to engine failure
- 78 people were aboard the vessel
- Five passengers rescued, including a seven-year-old girl
- 20 passengers remain missing
- Rescue operations continue
- The General Jewish Labour Bund, founded in 1897, organized Jewish workers and promoted Yiddish culture while opposing Zionism
- The Bund's socialist and democratic ideals are examined for relevance to contemporary Jewish left movements
- The interview explores whether the Bund's vision is experiencing a revival in today's Jewish left
- The $1,000 Trump account contribution must be claimed by a set deadline (date not specified).
- Children who do not qualify for the full $1,000 may be eligible for an initial $250.
- Eligibility criteria for the contribution are not fully detailed in the article.
- Accident occurred around 11 am Saturday involving six tourists.
- The tourist, an elderly Hong Kong woman, fell off a quad bike and is now in a coma.
- Hong Kong Immigration Department contacted Chinese foreign ministry and the consulate in Fukuoka.
- Authorities are providing support following a request for help from the victim's family.
- Two primary ways to move a 401(k) after leaving a job: direct rollover or cash distribution
- Cash distributions trigger ordinary income tax and a 10% early‑withdrawal penalty if under age 59½
- Employers must release vested account balances; they cannot withhold money beyond any outstanding loan balance
- Zoe De La Paz left a Chicago drafting position in June to work as a seamstress for Xanterra Parks & Resorts at Yellowstone.
- The seasonal job pays $19.25 per hour and provides subsidized employee housing and meals.
- She works 40 hours a week until roughly October, aiming to use the experience to pursue a wardrobe career in New York.
- Seven specific questions are suggested to replace the routine "How was work today?"
- Questions focus on highlights, challenges, gratitude, hope, evening plans, shared tasks, and mental growth
- Aim is to foster deeper connection, reduce surface‑level complaints, and build mutual support
- Pipe burst in Shau Kei Wan cut water supply for roughly 10,000 homes
- Disruption started at about 6 am Sunday; service slated to resume at 6 am Monday
- Water Supplies Department issued a suspension notice and dispatched staff for investigation
- No injuries reported; authorities continue to monitor the situation
- Second article in a five‑part series on ageing and health in Hong Kong
- Elderly living alone, such as an 89‑year‑old man, often eat meals in solitude
- Community care homes offer social interaction, e.g., the 89‑year‑old joins his 86‑year‑old wife for lunch
- Rising social isolation is linked to increased health risks for seniors
- Liubo, a "six sticks" board game, dates to the Western Han dynasty (202 BC–9 AD)
- Archaeologists at Shaanxi Provincial Institute recovered the 2,000-year-old game set
- The game was enjoyed by both royalty and commoners in ancient China
- Kenneth Jeyaretnam, 67, died in his sleep surrounded by family.
- He served as secretary general of the Reform Party.
- A small family funeral is being arranged, with details pending.
- Jiang Fangzhou, 36, had her master’s degree revoked following a plagiarism investigation
- The story has generated roughly 200 million video views online
- She published her first book at age nine and was once hailed as a literary prodigy
- Dog-friendly dining scheme launched on July 9 will proceed despite public backlash
- Eleven participating restaurants have withdrawn from the program
- Environment minister pledges stepped‑up inspections and public education to curb violations
- IOMed resolved at least one more dispute after a Singapore-China case
- Number of signatory states grew to 46
- Contracting nations now total 16
- Secretary General notes ongoing geopolitical attitude challenges
- Homeowners held a six‑hour extraordinary general meeting on Sunday.
- The audit report on the fire‑damaged Tai Po estate was rejected.
- Residents approved a follow‑up meeting to be held within two months.
- A gap year can help students develop soft skills and language abilities through internships, volunteer work, or exchange programmes
- Experience outside the classroom may make applicants stand out in university admissions
- Students should set clear personal and academic goals before embarking on a gap year
- Meite Siaka, senior tax official and deputy mayor, founded the Ivorian Federation of Chinese Martial Arts in 2008
- The federation is working to standardise kung fu practice across the Ivory Coast
- Kung fu's growing popularity positions the country as a regional hub for Chinese martial arts
- The Michael Centre for Spiritual Training opened in Metro Manila as the sole exorcism school in Asia
- Facilities include observation rooms, a chapel for the 400‑year‑old ritual, and relic displays
- Priests and clergy from across the region are invited to train at the centre
- Air links are expanding, bringing more visitors to Palau's beaches and dive sites
- Leaders emphasize controlled tourism to protect cultural heritage and avoid overcrowding
- Traditional performances, such as dances at Airai village, are highlighted for visitors
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