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Risk-off with escalating US-Iran tensions and Apple's trade secret lawsuit weighing on tech stocks

  1. US death toll rises as Iran conflict escalates, threatening Strait of Hormuz oil flow
  2. Oil prices rise as US-Iran fighting escalates, US stock futures unchanged · 2 sources
  3. US agencies miss GENIUS Act deadline for final stablecoin regulations · 2 sources
  4. Russian missile barrage hits Kyiv, killing at least one and injuring 16 · 2 sources
  5. UK's new PM Andy Burnham faces tight fiscal constraints and strained China ties

Markets 5

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  • 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
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  • 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
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  • 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
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  • 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.
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  • 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

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  • 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.
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  • 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

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  • 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
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  • 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
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  • 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.
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  • 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
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  • 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
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  • 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
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  • 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
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  • 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
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  • 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
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  • 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

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  • 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
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  • 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

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  • 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
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  • 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
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  • 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.
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  • 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.
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  • 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

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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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

Other 41

  • 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