- US equity indices jumped after Treasury Secretary Scott Bessent said a deal with Iran could be reached "today or tomorrow"
- Oil prices fell sharply on expectations of resumed shipping through the Strait of Hormuz
- Bessent's comment signals a possible de‑escalation of tensions that had been weighing on markets
August 4, 2026
▲ 59▼ 60◆ 26– 175
Markets 36
- Dow Jones Industrial Average trades above 54,100 at a record high, up more than 900 points.
- Caterpillar (CAT) up 6% after second-quarter results beat and revenue growth guidance raised.
- Crude Oil down 4% on talk of a Strait of Hormuz reopening.
- Yen rallied up to 5% over three sessions, hitting a three‑month high of 155.20 per dollar
- After intervention, yen fell 0.38% to 157.79 per dollar, still above July's 40‑year low of 163.99
- U.S. Treasury bought yen for euros, a rare move, while the dollar index dropped 0.13% to 99.88
- Short yen positions remain elevated, increasing risk for further shorting amid possible intervention
- Dow Jones Industrial Average closed at a record level, buoyed by strong AI-linked earnings
- S&P 500 reached a new high as tech giants reported better‑than‑expected AI results
- Investor sentiment lifted by hopes for a diplomatic breakthrough in the Middle East
- AI‑focused stocks led the rally, with Nvidia and Microsoft among the top gainers
- S&P 500 recorded its 25th annual record close in 2026.
- The index rose after a 42‑day break without new highs.
- Investors who held through the recent momentum crash were rewarded.
- Dow Jones +900 points, its best day in nearly two months
- S&P 500 up ~2% to a new all‑time high, closing above 7,700 (breakout of 7,620 resistance)
- Q2 earnings growth projected at 27% YoY for S&P 500 (45% with Alphabet and Amazon)
- Tech ETFs surge: SOXX +6%, IGV +5%; Nasdaq Composite +2.5%
- Iran‑related oil news eases, prompting lower oil futures and bond yields
- MSCI All Country, MSCI EM and major US, UK, Europe indices reached record highs
- Oil prices dropped 5.5% on Middle East peace hopes, pulling Treasury yields lower
- Dollar/yen rebounded to around 158 after historic US intervention
- US 10-year Treasury yields fell 4-7 bps, flattening the yield curve
- Tech sector rose 4% while energy fell 0.5%; Palantir jumped 30%
- Major equity indices up 0.5‑1% as investors digest potential Iran‑Hormuz de‑escalation
- Brent crude fell about 2% to around $84 per barrel after the signal
- Palantir shares jumped roughly 12% on strong AI‑related earnings
- AI‑related stocks rallied 3‑4% as the AI trade roared back
- Dow Jones Industrial Average reaches all-time high amid broad market rally
- Nasdaq Composite advances 2.6% as oil prices decline sharply
- SpaceX shares fall in extended trading following earnings report
- NZD/USD gains about 0.3% to near 0.5886, holding above the 20‑period SMA at 0.5876
- NZ Q2 unemployment forecast to rise to 5.4% from 5.3%; employment change expected at 0.1% QoQ
- US ADP employment expected to slow to 70K in July, while ISM Services PMI forecast at 54.5
- Technical resistance seen at 0.5895‑0.5897; support at 0.5882 and 0.5876
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- USD/JPY trades around 157.60 after dipping to 155, its lowest since May 6
- 200‑day SMA at 158 provides immediate resistance; 100‑day SMA at 160, 50‑day at 161.26
- RSI at 27 signals oversold conditions; MACD stays below zero
- Key support at 155, with potential downside targets at 152.5 and 150
- Recent US‑Japan intervention curtails yen strength, keeping near‑term bias bearish
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- SpaceX shares fell 7% after reporting Q2 revenue of $7.81B and capex of $18.37B, a 550% YoY increase.
- Arista Networks rose 11% as Q2 earnings of $1.02 per share beat estimates; revenue reached $3.04B.
- AMD dropped 8% despite earnings of $1.66 per share and revenue of $11.54B, with Q3 revenue guidance of $13B.
- Wynn Resorts gained 7% on Q2 earnings of $1.24 per share, beating forecasts.
- Teradata slumped 17% after Q3 EPS guidance of 55‑59¢ fell short of the consensus 62¢.
- AI‑focused hedge fund Situational Awareness collapsed last week after leveraged losses.
- Cramer claims the liquidation removed forced sellers, sparking a sharp tech stock rally.
- Enterprise software, highlighted by ServiceNow's strong earnings, led the broader rebound.
- Burry says S&P 500 could face a 1987‑type crash despite recent 1.9% gain to record close
- Nasdaq rose 2.7% on AI earnings, but Burry remains short on Nvidia, Micron and other AI‑linked stocks
- He holds short positions in SOXX, Micron (MU), Nvidia (NVDA), Caterpillar (CAT), Palantir (PLTR), Tesla (TSLA) and Applied Materials (AMAT)
- U.S. stocks are in their weakest seasonal stretch of the year on record for this period
- Investor sentiment has reached extreme bearish levels according to Ned Davis Research
- Extreme pessimism may curb further selling as investors become reluctant to add to losses
- Seasonal patterns suggest limited upside for equities through the end of the year
- U.S. equity indices have risen for four consecutive trading sessions
- Investors are increasing bullish options positions to avoid missing the rally
- The surge in options buying is further fueling the market’s upward momentum
- US Treasury yields fell as hopes rise for a potential Iran nuclear agreement.
- The move followed a busy day of US economic releases and precedes Friday's jobs report.
- The 10‑year yield slipped modestly, narrowing the yield curve.
- GBP/USD trades near 1.3450, up 0.11% on the day.
- The Pound's move is largely driven by the Dollar's performance, with the Australian Dollar gaining 0.68%.
- The next Bank of England decision is on September 17, six weeks away, with no domestic news flow expected to impact the Pound.
- Fed funds futures probability of an October rate hike fell from 95% to 83.5% in one day.
- The spread between the 2‑year Treasury yield and the Fed funds rate is 47 bps, well below the ~70 bps threshold that preceded past hikes.
- All six historical Fed hikes since 1994 occurred with spreads ranging from 69 to 160 bps.
- Author argues that the modest spread reduces upside rate risk, supporting a continued stock market rally.
- USD/SGD dipped to 1.2790 then recovered to 1.2827, closing up 0.05%
- Near‑term range expected between 1.2805 and 1.2845
- Further downside needs a clear break below 1.2790, next support at 1.2765
- Resistance at 1.2875; a breach above 1.2845 would shift bias upward
- MXN climbs to six‑week high, USD/MXN at 17.26 after peaking at 17.33
- US‑Iran negotiations boost risk appetite, supporting the peso
- Banxico likely to keep policy rate at 6.50% (93% probability) ahead of August decision
- US June JOLTS vacancies fell to 7.359 million, below the 7.4 million forecast
- CAD has lagged G10 peers despite a softer USD over the past week
- Scotiabank's fair‑value estimate for USD/CAD is 1.3930
- Technical support around 1.3970‑1.3980 could open a move toward the 1.38 level
- GBP/USD rose 0.14% to 1.3451 after hitting a daily low of 1.3419
- US JOLTS vacancies slipped to 7.359 million, below the 7.4 million forecast
- WTI crude fell 4% to $76.73 per barrel, pushing the DXY down to 99.94
- EUR/USD remains above 1.1500 despite US‑Iran talks.
- WTI crude slips toward $75.50, its lowest in three weeks, on Hormuz reopening expectations.
- US JOLTS job openings fell to 7.359 million in June, below the 7.4 million forecast.
- Dollar Index (DXY) trades around 99.90, little changed.
- ING forecasts EUR/USD could dip below 1.150 if the USD gains further support.
- USD is the worst‑performing G10 currency over the past 5 days, with the DXY down about 2% since late July.
- Middle‑East tensions, Trump tariffs and rate‑cut rhetoric have eroded the dollar's safe‑haven appeal.
- Fed rate‑hike speculation since May has offered some support, but recent declines revive de‑dollarisation worries.
- Trump's pause on further Iran attacks may curb short‑term dollar buying, while solid US data could sustain it.
- KRW, THB, SGD, and PHP are the main Asian FX beneficiaries if JPY strength persists.
- KRW is the most sensitive to JPY moves, with both conditional beta and correlation rising over the last 2 years.
- Asia PMI data suggest strong export momentum, with growth expected to slow into 2027 but stay elevated.
- Euro consolidates around 1.15 against USD
- Break above 1.1565 needed to extend gains
- Support seen in 1.1460/1.1480 region
- USD/JPY holds around 157.40 after JOLTS openings fell to 7.359 million, below the 7.4 million forecast
- JOLTS vacancies dropped from 7.537 million in May to 7.359 million in June, signaling cooling labor demand
- Technical view: USD/JPY below 20‑period SMA (158.52) and 100‑period SMA (162.06), support at 157.23, resistance near 157.99
- Potential reopening of the Strait of Hormuz lifts risk appetite and adds pressure on crude oil prices
- Euro Stoxx 50 up ~0.8% in early trade
- Defense stocks led gains on geopolitical tensions
- AI-related equities advanced on renewed tech optimism
- Regulators are reviewing stricter curbs on high‑risk leveraged single‑stock ETFs
- Proposals may lower leverage ratios and raise minimum investment thresholds
- The action follows mounting retail losses and growing debt from volatile market swings
- Tighter rules could reduce retail exposure but may dampen demand for leveraged ETFs
- USD/CHF fell 0.16% to trade below 0.8100 after breaking a June‑July support trendline.
- 50‑day SMA at 0.8042 now acts as immediate downside support; 100‑day SMA at 0.7957 and 200‑day SMA at 0.7929 lie further down.
- Bulls need to retake 0.8100 and then target 0.8150‑0.8200; downside risk to 0.8000, 0.7900 and 0.7900 levels.
- Dollar Index fell 0.02% to 96.17.
- The index has declined in five of the past six trading days.
- The move follows a recent six‑day streak of modest gains.
- USD/CNH trading between 6.7500 and 6.7620 in the short term
- 1‑3 week view: possible decline toward 6.7300 if 6.7640 resistance holds
- Medium‑term recovery requires a break above the 21‑week EMA near 6.8430
- Spot rate was 6.7490 on 3 Aug
- July inflation eased to 4.5% YoY, matching the 4.5% target.
- Trade deficit expanded to $3.6 bn in July, above the $2.5 bn consensus.
- USD/VND edged up 0.1% to 26,277, keeping the dong stable year‑to‑date.
- FDI disbursements rose 11.8% YoY in the first seven months of 2026.
- Steel exports face headwinds from EU CBAM and US anti‑dumping measures.
- Humana up >40% YTD, dividend yield ~1%, price target $480 implies 28% upside
- NRG Energy shares down >25% in 2026, dividend yield 1.6%, price target $215 implies 55% upside
- Other dividend payers on list: Chevron (+25% in 2026, 3.7% yield), Texas Instruments (+64% YTD, 2% yield), McDonald's (-13% YTD, 2.8% yield)
- GBP/USD hovering near 1.34, close to its 100- and 200-day moving averages
- Neutral to bullish technicals suggest upside to 1.3555‑1.3560 after last week's rise
- Support sits at 1.3390‑1.3400; moves above 1.35 could retest the recent peak
Macro/Economy 20
- More than 45 vessels are unable to load or unload grain at Argentine ports due to the strike.
- Union warns the dispute could add about 30 more ships to the backlog if not resolved today.
- Argentina, the top soy‑bean exporter and a major corn and wheat supplier, faces a supply shock that could affect global grain markets.
- Canada's merchandise trade surplus reached C$3.86 billion in June, a four-year high.
- Exports rose for a fifth consecutive month to a record C$77.5 billion, driven by gold and copper shipments.
- Quarterly data suggest merchandise trade made a strong contribution to Q2 GDP growth.
- Japan plans to cut food consumption tax to 1% from 8% for two years starting April 2027, costing ~¥4.4 trillion in revenue
- Critics warn the plan may undermine fiscal credibility, push JGB yields higher, and weaken the yen amid Japan’s 204% debt-to-GDP ratio
- BOJ’s rate hikes and reduced JGB purchases are already lifting 10-year yields to ~2.85%, near multi-decade highs
- Government targets ¥370 trillion in public-private investment by 2040 to boost productivity and long-term growth
- IMF and LDP members oppose the tax cut, citing risks to fiscal space and inflation control
- July PMI slipped for the fourth consecutive month, indicating continued slowdown.
- Official data released an unexpected contraction in factory activity for the same period.
- Weak domestic and export demand cited as the primary driver of the slowdown.
- Yen intervention seen as temporary due to Tokyo's loose fiscal and monetary policies
- BOJ may face pressure from Washington to hike rates
- Yen intervention may not address underlying issues
- August current‑account balances forecast to shift due to trade‑balance variations
- Net income and unilateral transfers identified as secondary drivers of the changes
- Key economies show divergent trends: some moving toward surplus, others deeper deficits
- Real wages grew 1.6% YoY in June, the sixth month of consecutive gains.
- Nominal wages rose 3.4% to ¥531,677, slightly above May's revised 3.3% increase.
- Base salaries up 3.4% YoY, overtime pay up 2.8% YoY, special payments up 3.5% YoY.
- BOJ kept rates steady in July but signaled upside price risks, hinting at a possible hike in September.
- Unemployment increased to 5.6% in Q2, versus the 5.4% consensus
- Employment change accelerated to 0.5% in Q2, beating the 0.2% forecast
- Labor force participation rose to 70.7%, up from 70.4% in Q1
- NZD/USD slipped 0.18% to 0.5884 after the data release
- Pentagon estimates $1.4 billion cost for National Guard deployment in Washington, DC through Jan 2029
- Deployment will average 2,500 Guard members over fiscal years 2027‑2029
- Current presence includes about 4,600 Guard personnel from DC and 23 states, with some states planning withdrawals before 2029
- Federal appeals court says EPA likely acted unlawfully in trying to cancel $20 bn of clean‑energy grants.
- Ruling overturns earlier decision and temporarily blocks the freeze pending possible Supreme Court review.
- Grants, created under the 2022 Inflation Reduction Act, remain pending for nonprofit groups to fund small energy projects.
- Active blazes reported in at least four European countries: Spain, France, Italy and Greece
- Record-high temperatures and prolonged droughts are fueling rapid fire spread
- Experts warn climate change could raise future wildfire frequency and severity, urging policy action
- Private manufacturing PMI slipped to 50.9 in July, a four‑month low
- Official NBS PMI recorded a contraction at 49.2
- USD/CNY and offshore USD/CNH rose to about 6.76, up 30 and 60 pips respectively
- Markets price in near‑term LPR cuts and possible RRR reductions
- Q2 2026 GDP growth revised down, outpacing expectations of slowdown
- Consumer spending remained flat, indicating demand resilience
- AI-related investment accounted for a larger share of capital spending, affecting growth metrics
- Analysts attribute the slowdown to measurement changes rather than a drop in consumption
- Trade deficit narrowed in June 2026, aided by stronger non‑oil and gas exports
- Import growth accelerated, largely reflecting capital formation and industrial development
- Analysts warn of near‑term twin‑deficit risk as fiscal and current‑account pressures build
- Downstream industrialisation and energy‑security programmes viewed as long‑term structural support
- Hong Kong retail sales rose 4.6% YoY in June, extending growth streak to 14 months
- Retail sales value reached HK$31.5 billion (US$4.01 billion) in June
- First-half retail sales rose 9.6% YoY
- ASEAN Q2 vehicle sales rise as electric‑vehicle demand accelerates.
- Indonesia posts a 34% year‑on‑year increase in car sales.
- Malaysia, Thailand and Vietnam record gains, helped by BYD and VinFast.
- BYD unveils a plug‑in hybrid in Jakarta to attract range‑concerned buyers.
- Chinese purchases of US homes fell in the 12 months to March versus the prior year
- China dropped from the top foreign buyer to third place among overseas home purchasers
- New state laws barring certain foreign nationals have curbed Chinese buyer participation
- Other foreign buyers cite lack of suitable properties and affordability as primary obstacles
- Consumption tax on food to be reduced from 8% to 1% for two years starting April
- Proposal cleared key ruling party committees, moving closer to implementation
- Funding for the tax cut remains uncertain, raising fiscal concerns
- Trump administration must restart broadband grant applications in December after court ruling
- Program funded by $2.75 bn Digital Equity Act; race/ethnicity criteria barred, income, age, disability allowed
- Biden administration previously awarded $60 m in planning grants and began allocating remaining funds in 2024
- Commercial washer demand is accelerating in Southeast Asia as the middle class expands.
- Samsung Electronics and Alliance Laundry Systems are targeting the region’s growing market.
- WashXpress operates about 600 locations in Thailand using Alliance’s Speed Queen machines.
- The trend signals new growth opportunities for appliance manufacturers in the area.
Central Banks 11
- USD/JPY surged 2.5% to 144.85 after the intervention
- Japanese yen's 10-year yield fell to -0.15% as a result
- US and Japan's combined reserves are now over $2 trillion
- The intervention aims to stabilize the yen and prevent further depreciation
- The move is a rare example of coordinated monetary policy between the two nations
- New Fed chair and White House outline strategy to reduce inflation
- Critics argue the plan lacks sufficient measures to curb price gains
- Inflation remains above the Fed's 2% target, keeping pressure on policy
- Fed Chair Kevin Warsh is reportedly evaluating a cut to regular FOMC meetings from eight to six annually
- Proposed schedule would keep six rate‑setting meetings plus two additional sessions on broader economic issues
- Changing the meeting cadence would be the first alteration to the FOMC calendar since the 1980s
- A shift could reshape market expectations for rate decisions, impacting the US dollar and Treasury yields
- The Fed's tentative 2025 meeting calendar is already posted, making any schedule change logistically challenging
- BOJ data shows about $31.8 bn used to purchase yen on Friday
- Intervention coordinated with U.S. selling euros for yen
- Yen rose to ~158 per dollar from ~160 after the buying
- Minutes from the June 15-16 meeting were published, outlining the policy discussion.
- The board reaffirmed the existing policy rate, indicating no immediate change.
- Outlook emphasized continued focus on inflation and growth targets.
- BOJ accepts additional collateral types, expanding eligible assets
- New collateral includes Japanese government bonds and commercial paper
- Move aims to boost market liquidity and support economic growth
- BOJ has reduced JGB purchases since mid-2024 to enhance market stability and interest rate formation
- Long-term JGB yields rising partly due to inflation fundamentals, not solely BOJ policy shifts
- JGB market functioning improving as purchases decline, with Japanese investors gradually increasing holdings
- RBI's currency facility gives small banks cheaper access to foreign currency
- Equitas, AU, and IDFC First offer NRI deposit rates up to 7.5%, above SBI's 5.25‑6% and HDFC's 6%
- Higher rates aim to attract diaspora deposits and bolster banks' dollar reserves
- Banks also eye future expansion into insurance and investment advisory services
Energy/Oil 13
- WTI dropped $4.70 to $75.64 per barrel, down 5.85%
- Brent fell $4.61 to $79.16 per barrel, also down 5.85%
- Both benchmarks hit three‑week lows as speculation of a US‑Iran agreement rose
- Traders priced in a deal before any formal signing after comments from US officials
- Potential reopening of the Strait of Hormuz spurred the sell‑off
- Turkey has reopened an oil pipeline.
- The pipeline provides an alternative route for oil transportation.
- This route bypasses the Strait of Hormuz, a critical global oil chokepoint.
- The reopening could enhance global oil supply security and flexibility.
- WTI crude slid ~5.3% to $75.80 per barrel as traders anticipate Hormuz reopening.
- Silver surged ~2.5% to $59.58 per ounce, boosted by lower real rates and industrial demand outlook.
- US Dollar Index eased 0.10% to around 99.90 after JOLTS job openings missed forecasts (7.359 m vs 7.4 m).
- EUR/USD rose ~0.20% to 1.1530 and USD/JPY gained ~0.40% to 157.80 as safe‑haven demand waned.
- WTI drops 3.91% to about $75.70 per barrel, its lowest level in three weeks
- U.S. Treasury Secretary Scott Bessent says a deal to reopen the Strait of Hormuz could be reached by Tuesday or Wednesday
- Analysts note bearish technical bias with price below the 100‑period SMA ($81.03) and 200‑period SMA ($82.91)
- Brent crude slipped to about $80 per barrel, retreating from recent highs
- US and Qatar signaled progress on a draft US‑Iran agreement, reducing geopolitical risk premium
- President Trump urged major refiners to cut fuel prices amid Q2 earnings surge
- Aramco Q2 adjusted net income rose 33% YoY to $33.4B, beating estimates by $1.8B
- East-West pipeline bypassed Strait of Hormuz disruptions, sustaining 7M bpd exports
- Geopolitical crisis has removed 2.6B barrels of oil from global supply, per Aramco CEO
- BP Q2 underlying profit surged to $5.7bn, beating $5bn consensus; net profit $2.35bn vs $3.2bn in Q1 2026
- Oil majors Exxon ($14.5bn) and Chevron ($12bn) also posted massive Q2 earnings amid Iran conflict-driven price surge
- BP raised dividend 4% to 8.66 cents/share, reduced net debt to $22.25bn, and sold non-core assets to simplify operations
- Indian state refiner HPCL purchased 2 million barrels of crude from Nigeria.
- The acquisition includes Okwuibome and Utapate crudes from commodity trader Glencore.
- This move aims to offset potential supply disruptions from the Middle East.
- The Nigerian crude is destined for HPCL's Rajasthan refinery.
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- Futures slipped after temperature forecasts were revised lower, indicating cooler weather.
- Elevated production and large inventory levels kept supply pressure high.
- Analysts warn further price weakness if forecasts remain below seasonal averages.
- No immediate regulatory or policy changes expected to offset the downside.
- Net profit rose to 170.34 bn rupees ($1.8 bn), over double the prior quarter
- Revenue jumped 45% YoY to 464.60 bn rupees
- Higher crude and natural‑gas prices plus a weaker rupee offset lower production
- OPEC's policy framework described as similar to a central bank's monetary policy
- Report cites OPEC's target oil price range of $80‑$90 per barrel
- Potential production adjustments of up to 2 million barrels per day discussed
- Analysts note possible spillover effects on global inflation and energy markets
- Former President Trump voiced criticism regarding the profits of major oil companies.
- ExxonMobil and Chevron were specifically named in his remarks.
- The criticism likely targets the significant financial gains reported by these energy giants.
- The Orange Basin offshore province holds over 20 billion barrels of oil equivalent.
- Namibia has secured a series of world‑class discoveries and is moving toward commercial production.
- South Africa, which controls roughly two‑thirds of the basin, remains years behind Namibia in development.
Gold/Metals 20
- Gold (XAU/USD) rises to ~$4,087 as Strait of Hormuz reopening talks lift sentiment
- WTI crude drops to $75.50, three-week low, easing inflation pressures and Fed rate-hike odds
- CME FedWatch shows September rate-hike probability falls to 57.1% from 67.2% amid softer labor data
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- Gold prices hold steady at $1,930/oz as investors await key central bank decisions
- US Fed, ECB, and BoE meetings expected to shape global monetary policy
- Gold demand remains strong despite price volatility
- Copper price approaches historic highs amid AI-driven demand
- US buyers accelerate purchases ahead of potential tariffs
- China ramps up copper consumption for AI infrastructure
- Inventories outside the US shrink as demand surges
- Gold and silver markets are currently demonstrating strong upward momentum.
- Prices for both precious metals are nearing significant key resistance levels.
- The interaction at these resistance points will be critical for determining future price direction.
- Gold fell to about $4,070 in early Asian trading, slipping below $4,100.
- CME FedWatch shows roughly a 60% probability of a Fed rate hike at the September meeting.
- US July employment data due Friday could shape expectations for Fed policy and gold.
- Technical: price sits under the 100‑day SMA, with resistance near $4,140 and support at $4,060.
- The U.S. is allocating billions of dollars to build a critical mineral supply chain and reduce reliance on China.
- A company announced the biggest tungsten find ever recorded in the United States.
- Tungsten is deemed essential for electronics, defense applications, and other high‑tech industries.
- The discovery underscores domestic supply challenges despite increased government investment.
- Gold futures closed higher, gaining roughly 0.5%
- June JOLTS report showed job openings little changed from the prior month
- Flat job data heightened concerns about labor market strength, supporting gold
- No other major catalysts moved the market
- US CPI rose 0.4% month‑over‑month (3.4% year‑over‑year) in June, keeping inflation above target
- Federal Reserve lifted its policy rate to 5.25‑5.50%, the highest in 22 years
- Gold slipped to around $1,950 per ounce, pressured by higher yields
- Singapore iron ore futures fell to their lowest intraday level in a year
- Chinese steel demand remains soft due to a construction slump and lower mill margins
- Rising supply and expectations of a surplus keep bearish pressure on prices
- Silver (XAG/USD) trades around $59.50, up more than 2% on expectations of Strait of Hormuz reopening
- U.S. JOLTS vacancies fall to 7.359 million, below the 7.4 million forecast, easing Fed tightening expectations
- ADP employment change expected to slow to 70K in July, down from 98K, ahead of Nonfarm Payrolls
- Technical resistance at $59.49 and $60.00; support near $59.14 and $58.99
- Trump's possible shift on Iran may lower safe‑haven demand for gold
- Analysts warn of a swift sell‑off, potentially pushing gold lower
- Gold could test support near $1,900 per ounce if tensions ease
- Market sentiment turning bearish as geopolitical risk perception drops
- DoD withdrew a tender for up to $300 million of lithium carbonate for the strategic stockpile.
- The solicitation was fully cancelled effective Aug 3 2026 after two deadline extensions.
- The cancellation removes a potential demand source, likely weighing on lithium market sentiment.
- Tether's tokenized gold (XAUt) reserves grew 9.5% in the quarter
- Physical gold prices fell, marking the weakest quarterly performance since 2013
- Demand for digital gold rose despite spot price weakness
- Gold's price decline may pressure mining stocks and related ETFs
- Agnico Eagle Mines tops the list with a market value of $79.5 bn (C$112.8 bn).
- The company runs Canada’s largest gold mines, Canadian Malartic and Detour Lake.
- Barrick Gold is also featured among the top‑10 Canadian mining companies.
- Expansion cost increased to $120 million (US$85.3 million), a 20% rise from the original $100 million budget
- Higher capital outlay may pressure Artemis Gold's cash flow and delay project milestones
- The company (TSXV: ARTG; US‑OTC: ARGTF) continues with the Blackwater mill expansion despite the cost hike
- Inventus's Pardo project is the continent's sole paleoplacer gold deposit and may be the largest of its kind in North America
- Located near Sudbury, Ontario, the project is advancing with new drilling confirming significant gold mineralization
- TSXV‑listed Inventus (IVS) expects the development to boost its gold reserve base and future production outlook
- Top 10 gold drill assays compiled for the June 17‑July 15 period
- Radisson project in Quebec posted the highest grade‑width product among the list
- Assays cover drilling activity across the Americas
- Benz Mining cut a 41‑metre interval grading 14.5 grams gold per tonne at the Glenburgh project in Western Australia.
- The high‑grade zone suggests potential to add ounces to the resource as drilling continues.
- The result supports the company's ongoing effort to delineate tighter, higher‑grade gold mineralisation.
- Kavango Resources (LSE: KAV) installed a 50‑tonne‑per‑day processing plant at the Hillside project.
- Commissioning marks transition from construction to live processing at the Zimbabwe gold mine.
- The plant capacity targets processing up to 50 tonnes of ore daily, supporting future gold output.
Crypto 42
- Open USD, backed by Coinbase, Visa and Mastercard, caused Circle (CRCL) shares to fall up to 20%, wiping billions from its market value
- Coinbase, Visa and Mastercard say they will support multiple stablecoins, framing Open USD as an additional network rather than a USDC replacement
- The consortium announced over 140 launch partners, but analysts view many commitments as soft LOIs with limited immediate impact
- USDC remains supported by Coinbase alongside USDT and PYUSD, with the exchange renewing its commercial agreement with Circle
- Samsung will add native stablecoin features to 800 million new Galaxy smartphones via Samsung Wallet
- The rollout leverages ~19 million existing Samsung Wallet users in South Korea and targets 61 countries
- Samsung invested $408 million for a 4% stake in Dunamu, operator of Upbit exchange, to back stablecoin infrastructure
- Analysts predict Samsung could become a dominant distributor of stablecoins such as USDC
- The move aligns with South Korea's draft Digital Asset Basic Act, which could shape future regulation
- Bitcoin price steadied around $64,000.
- S&P 500 market capitalization hit a record $70 trillion.
- Optimism over Strait of Hormuz reopening boosted equity markets.
- 515,000 BTC (~3% of supply) concentrated around $63,000 price level
- All wallet cohorts accumulating; retail and whales (>1,000 BTC) showing strongest activity
- Bitcoin trading at $63,822 vs 200-week MA of $63,657, signaling key support
- Polymarket is reportedly seeking new funding at a $20 billion valuation, following a $15 billion round in April.
- The platform's CEO aims to position it as an 'information market' rather than solely a betting venue.
- Competition in the prediction market sector is intensifying, with Coinbase, Robinhood, and rival Kalshi expanding offerings.
- Kalshi, a key competitor, is reportedly seeking new capital at a $40 billion valuation.
- Polymarket uses blockchain and crypto-based settlement, while Kalshi operates a federally regulated exchange.
- A new group, Crypto Watchdog, is running TV and online ads in Washington D.C., linking digital assets to illicit activities like drug cartels and terrorism.
- The campaign coincides with the critical final stages of the Senate's Digital Asset Market Clarity Act negotiations.
- Crypto Watchdog's executive director, Chapin Fay, refuses to disclose the group's financial backers, despite advocating for transparency in the crypto industry.
- The Clarity Act faces significant hurdles, including debates over ethics constraints for government officials' crypto activity and strong opposition from the banking lobby.
- Lawmakers have a narrow window before summer recess to advance the bill, with its passage uncertain.
- Users of affected Coldcard models should move their funds amid an ongoing exploit that has drained $114 million.
- The vulnerability affects Mk3 devices on firmware 4.0.1 or later and Mk4, Mk5, and Q devices on older firmware.
- Wallets created using the dice-roll option are considered safe.
- Bitcoin's 30-day implied volatility index (BVIV) dropped to 36%, its lowest since May 31, indicating market calm despite issues like a hack and regulatory uncertainty.
- Historically, such low volatility levels have often preceded a 'volatility boom,' suggesting a significant directional move (bullish or bearish) could be on the horizon.
- Bearish signals include $61.53 million in outflows from U.S. spot Bitcoin ETFs last week, declining market caps for stablecoins USDT and USDC, and rising real Treasury yields.
- A potential floor for downside is indicated by approximately 155,000 BTC acquired in the $62,000-$65,000 range, suggesting buying absorption near current prices.
- Hashdex’s DEFI ETF, with $14.7M AUM, to close Aug 17 after failing to attract investor interest
- U.S. spot bitcoin ETFs saw net outflows for 3 consecutive months as AI-related investments outperformed
- BlackRock’s IBIT holds $47.08B vs DEFI’s $14.7M, illustrating stark disparity in ETF popularity
- First US-Japan joint yen intervention in 28 years executed amid record bond yields
- Yen carry trade unwinding raises volatility risks for Bitcoin and risk assets
- Liquidity squeeze potential prompts caution in crypto and broader markets
- Bitcoin traded near $63,600, showing little change over 24 hours and seven days, despite significant currency market moves.
- The US and Japan intervened to support the yen, with Japan potentially spending $36.6 billion, after the currency weakened to 163.73 per dollar.
- Yen rebounded to 157.57 after the intervention, but the interest rate gap still favors the dollar (Fed 3.50-3.75% vs BoJ 1%).
- Crypto traders monitor the yen carry trade, where investors borrow low-interest yen to fund higher-yielding assets, as a strong yen can force position unwinding.
- Bitcoin traded just below $64,000 after a Coldcard wallet hack and a 1,638‑BTC sale by Strategy at an average $63,957
- Cardano (ADA) rose to $0.195, its highest since early July, with futures open interest hitting a record 2.79 billion coins
- Crypto Fear & Greed Index fell to 25 ("extreme fear") while spot Bitcoin ETFs saw $61.5 million outflows and $170 million inflows in the latest day
Read on CoinDesk ↗
also: CoinDesk
- Jim Cramer says he will sell all his Bitcoin, fearing quantum computers could break crypto security in 3‑4 years
- Bitcoin price stays around $64,000, showing resilience amid the warning, a Coldcard hack and rising bond yields
- Crypto traders view Cramer's warning as a bullish signal, citing his track record of missed calls
- Senators from Oregon, California, Nevada, Minnesota and New Hampshire sent a letter to the CFTC demanding a crackdown on wildfire prediction markets.
- The letter references Polymarket's January 2025 contracts betting on the Los Angeles wildfires.
- Lawmakers argue that betting on destructive fires exploits victims and calls for regulatory action.
- Bill proposes oversight of digital assets but critics say it lacks adequate risk safeguards
- Senators argue changes are needed to reduce systemic risk to the financial system
- Potential revisions could tighten regulatory environment for cryptocurrencies
- July 8 meeting between US and UK regulators emphasized digital‑asset oversight
- Implementation of the GENIUS Act was highlighted as a key step
- Regulators reaffirmed support for stablecoins and tokenisation initiatives
- Focus placed on payment modernization and cross‑border cooperation
- BNY Mellon adds staking services for eligible institutional clients
- Partnership formed with Galaxy Digital to provide the offering
- Staking will cover proof‑of‑stake assets such as Ethereum and other PoS tokens
- Service aims to generate yield for institutions seeking crypto exposure
- Hackers have stolen around $130 million from Coldcard hardware wallets.
- The breach exploits a 2021 code flaw that made seed phrases predictable.
- Over 200 crypto hacks this year have caused losses exceeding $950 million.
- Coinkite advises users to update firmware and generate new seed phrases.
- At least a dozen hacker groups are targeting Bitcoin owners using Coldcard.
- Senators request SEC investigation into $TRUMP after estimated $3.8 billion losses for ~1 million investors
- $TRUMP token fell from a peak above $46 to $1.47 currently
- Digital Asset Market Clarity Act's ethics provision remains stalled as White House has not responded
- Bitdeer entered a 16‑year lease agreement valued at $4.7 bn for AI data centre capacity
- The lease secures 121 MW of AI computing power in Norway
- The deal diversifies Bitdeer's revenue beyond Bitcoin mining
- Long‑term contract highlights growing overlap between crypto mining and AI workloads
- At least 15 attackers exploited the Coldcard vulnerability
- Vulnerability may have been avoided with $2 worth of AI hardening
- Galaxy reports on the exploited vulnerability
- Dinari expands tokenized U.S. equities to eligible U.S. investors via self-custody crypto wallets using USDC stablecoin
- 724 tokenized U.S. stocks including all S&P 500 constituents now tradeable on Ethereum, Arbitrum, Base, and Avalanche
- Citi projects tokenized securities market could reach $5.5T by 2030 as competition intensifies post-SEC guidance
- Transform Ventures founder Michael Terpin forecasts further downside for Bitcoin.
- Terpin suggests Bitcoin could experience another 30% drop from current levels.
- He believes Bitcoin may reach $43,500 before finding a market bottom.
- BitGo to replace LayerZero with Chainlink CCIP for $7.3bn WBTC, totaling $14.5bn in announced migrations
- Migration wave triggered by $292m Kelp DAO bridge exploit, increasing scrutiny of LayerZero configurations
- BitGo retains control over WBTC token contracts and transfer settings via Chainlink’s Cross-Chain Token standard
- BNY to integrate crypto staking via Galaxy for institutional clients within its custody platform
- Service allows earning staking rewards without transferring assets out of BNY’s custody
- Expands BNY’s blockchain-based services amid growing institutional crypto adoption
- Wells Fargo will offer tokenized deposits to corporate customers
- The blockchain-based service aims to speed up payments and transfers
- Rollout is slated for later this year
- Bank joins a growing list of institutions adopting crypto‑related solutions
- South Africa's National Treasury and SARB propose draft rules for cross-border crypto transactions.
- Sending crypto offshore must be done through an authorized provider and reported to the central bank’s FinSurv.
- The proposed measures aim to minimize regulatory arbitrage and enhance detection of illicit financial flows.
- The framework does not make crypto legal tender and does not distinguish between different digital assets.
- Public comments on the draft rulebook are invited until September 30.
- Former FBI supervisory agent pleads guilty to stealing $1M in digital assets
- Agent forfeited $925,000 in funds to government-controlled wallets
- Case involves theft from an adversarial country
- Bhutan's Gelephu Mindfulness City (GMC) appointed Toronto-based 3iQ to manage a portion of its bitcoin treasury.
- The management strategy is low-risk and market-neutral, aiming to generate long-term returns rather than simply holding the assets.
- The specific size and source of the bitcoin mandate remain undisclosed, amidst ongoing questions regarding Bhutan's earlier pledge of up to 10,000 BTC.
- Beyond asset management, the partnership with 3iQ is intended to create jobs and develop technology and finance skills for Bhutanese youth.
- NY judge Jed S. Rakoff denies CFTC request for temporary restraining order
- CFTC may renew motion before Judge Victor Marrero on Aug. 7
- New York Attorney General sues Kalshi for operating an illegal, unlicensed gambling business
- Nigeria introduces framework for crypto tax collection
- Existing tax obligations apply to crypto disposals and rewards
- Withheld amounts payable in originating token
- XRP holders can now borrow Ripple’s RLUSD stablecoin on Ethereum by posting wrapped XRP (FXRP) as collateral in a $280m lending pool
- Approval follows institutional risk review of FXRP’s market behavior, oracle design, liquidity, and liquidation capacity
- Flare is developing tools to streamline FXRP minting and bridging, enabling direct borrowing from XRP Ledger wallets
- Proposals SIMD-0553 and SIMD-0550 aim to raise daily SOL burns from ~650 to 7,500-9,000 coins ($47k to $650k/day)
- SIMD-0550 accelerates disinflation, moving Solana’s 1.5% inflation floor from 2032 to 2029
- Current validator support at 5.8% of staked SOL; needs 15% to trigger vote by Aug 18
- Combined proposals reduce issuance and increase burns, but net effect remains inflationary (~60k SOL issued vs 9k burned daily)
- Helius leads support with 16.03M SOL (64% of current total), signaling strong but insufficient backing so far
- Texas governor imposes moratorium on new ERCOT-linked data center approvals pending audit
- Moratorium excludes existing approved electricity contracts for Bitcoin miners
- Bernstein analysts expect minimal impact on Bitcoin mining operations in Texas
- Crypto executives say AI model restrictions may be temporary
- Open-source AI alternatives are becoming increasingly capable
- Only a limited number of crypto firms currently have frontier AI access
Geopolitics 55
- Treasury Secretary Scott Bessent says a deal to reopen the Strait of Hormuz is possible within days
- Oil prices reversed sharply after Bessent's comments, with WTI down 4.44% to $76.77 per barrel
- Analysts at Goldman Sachs expect Brent crude to stay in the $80-90 range until a U.S.-Iran deal is confirmed
- Taiwan begins 10-day war games to test PLA maritime blockade response
- Exercise incorporates US military planning practices for improved coordination
- Wartime relocation of weapons production lines to be tested
- Former public‑health official Abdul El‑Sayed leads in recent polls, backed by Bernie Sanders and AOC
- Moderate Democrat Haley Stevens is endorsed by Gov. Gretchen Whitmer and former Sen. Debbie Stabenow
- Michigan's Senate seat will decide control of the U.S. Senate for the 2027‑28 Congress
- The primary is viewed as a bellwether for national sentiment ahead of the 2028 presidential election
- President Trump framed the race as a "communist vs socialist" contest, underscoring partisan rhetoric
- Bhutan uses Buddhist values to cultivate influence through cultural networks and regional cooperation.
- Bhutan's Buddhist diplomacy is exemplified by its relations with Thailand, with which it shares a Theravāda Buddhist monarchy.
- Bhutan's Gelephu Mindfulness City project extends its Buddhist diplomacy into the economic realm, attracting global investment and talent.
- Near-miss drone incident highlights systemic operational flaws in South Korea-US coordination
- Critical information stalled at working level within South Korean military bureaucracy
- Essential flight data not shared with frontline units, exposing vulnerabilities in tactical compatibility
- Germany deported an Afghan national without a criminal record for the first time since 2021, following a policy shift to expedite and expand deportations.
- The move, driven by a denied asylum claim, sparked strong opposition from human rights groups who argue Afghanistan is unsafe and criticize legitimizing Taliban rule.
- Germany permitted Taliban envoys to enter the country in July 2025 to facilitate deportations, leading to Taliban representatives heading Afghan diplomatic missions in Berlin and Bonn.
- The EU followed Germany's lead, initiating technical contacts with the Taliban in October 2025 and hosting high-level talks in June 2026 with 15 member states participating.
- Human rights organizations, including Amnesty International, have urged the EU and member states to halt deportation plans and cease cooperation with the Taliban.
- NATO members launched new defense initiatives in June to bolster weapons development and supply chains
- Moves target security challenges from Russia and China, per NATO announcements
- Projects aim to strengthen collective defense and industrial resilience
- US-EU tech regulation competition intensifies
- Chinese think tank predicts EU-US relations will become increasingly adversarial
- Recent fines on US tech giants highlight the shift
- Japan's 610-page defence white paper flags China's growing ability to sustain operations in western Pacific
- Beijing accused of strengthening aircraft carrier force and improving distant-sea operational capacity
- Tokyo pledges to enhance monitoring, strike capabilities, and ammunition production
- A Chinese national, Lawrence Ke Sy, was arrested in the Philippines for allegedly posing as a Filipino for over two decades.
- Sy is the president and majority shareholder of Maxipro Development Corp., a contractor involved in national security-related projects.
- The arrest sharpens concerns that identity fraud could compromise vital national security sectors in the Philippines.
- US Army has used 'virtually all' of its ATACMS and PrSM missiles in Iran war
- Concerns raised about military readiness for future conflicts
- Missile stockpile depletion may impact future operations
- State TV documentary reveals DF-17 hypersonic glide weapon test launches
- DF-17 is world’s first operational hypersonic glide system per state media
- PLA Rocket Force oversees DF-17, part of China’s land-based nuclear-capable arsenal
- World Bank ended its 45% climate finance target, reducing accountability for climate-related spending
- India requires $160B–$288B annually through 2030 for climate adaptation, but funds disproportionately flow to urban mitigation projects
- Marginalized rural communities in flood/drought-prone districts face delayed or diverted climate adaptation funding
- US to fund port in Solomon Islands, signaling renewed engagement in the Pacific
- Move aims to counter Chinese influence and ensure regional security
- Pacific island nations have been impacted by US aid cuts, sparking regional tensions
- Taiwan's NSC secretary-general says China's mass coast‑guard deployments amount to hybrid warfare, challenging regional security
- Beijing rebrands maritime aggression as routine police work, heightening pressure on Taiwan and nearby waters
- Taiwan welcomes deeper security cooperation between Japan and the Philippines as a countermeasure
- A mass funeral was held in Gaza for 112 victims from the Abu Sharia and al-Hasayna families.
- The deaths stem from an Israeli strike that occurred nearly three years ago.
- More than 8,000 Palestinians are still believed to be trapped beneath rubble in Gaza.
- Myanmar's regime allows ICRC delegation to meet detained former leader Aung San Suu Kyi
- The meeting occurs days before President Min Aung Hlaing's scheduled trip to Thailand
- It marks the most notable diplomatic concession since the February 2021 coup
- ICRC's visit is the first known private meeting with a detained former leader in years
- Russian ballistic missile hit Kyiv, killing 1 and wounding 5 people
- Earlier this week, at least 27 people were killed in separate attacks in Russia and Ukraine
- Kyiv's air defence engaged; warehouses set ablaze and danger to civilians remains high
- Ukraine urges allies for more US-made Patriot interceptors to counter Russian missile attacks
- A $1 billion Chinese electric‑vehicle investment in Turkey has collapsed
- The fallout could slow China‑Turkey trade that relied on Turkey’s EU Customs Union access
- Bilateral relations risk cooling, potentially curbing future Chinese investment in the region
- Tata Electronics disclosed a cybersecurity incident that may have leaked parts lists for Apple’s upcoming iPhone 18 Pro, slated for a September launch.
- Apple shifted production of its iPhone 17 series to India in 2023, marking its first major device rollout outside China.
- Chinese officials warned that “Made in India” supply chains have systemic weaknesses, citing the $29 “Baby iPhone” Android copycat.
- U.S. Chamber of Commerce report says China is tightening controls on critical minerals and imposing extraterritorial rules to deter diversification.
- Sen. Susan Collins (R-ME) announced a 'no' vote on AG nominee Todd Blanche.
- Blanche needs at least 2 GOP votes to reach the 50‑vote threshold in a 53‑47 Senate.
- The Senate Judiciary Committee approved Blanche 12‑10, sending the nomination to the floor.
- Key holdouts include Sens. Lisa Murkowski and Bill Cassidy, who could join Collins.
- Collins cited Blanche's role in a controversial IRS settlement and the now‑canceled anti‑weaponization fund.
- Myanmar President Min Aung Hlaing will arrive in Thailand on Thursday for a two‑day visit, his first since becoming civilian leader.
- The agenda includes private and full‑delegation talks, signing of multiple MoUs, and the opening of the Thailand‑Myanmar Business Forum 2026.
- Thailand's prime minister stresses a "calibrated re‑engagement" with Myanmar, in line with ASEAN's Five‑Point Consensus on peace and humanitarian aid.
- PLA celebrated its 99th anniversary on Aug. 1, marking a year left to meet its 2027 centenary objectives.
- The force is prioritizing asymmetric, disruptive tech to offset U.S. conventional advantages.
- Strategy draws on a 1990s PLA doctrine urging development of non‑matching, innovative capabilities.
- Emerging areas include AI, quantum, hypersonic and cyber weapons, signaling a shift toward high‑tech warfare.
- More than 72 migrants died attempting to reach Ceuta, Spain.
- The tragedy quickly became a political flashpoint within hours.
- Analysts warn the fallout could extend beyond Spain to broader European politics.
- Far‑right groups are using the incident to amplify anti‑immigration narratives.
- A funeral was conducted for the victims of the US strike on Qeshm Island.
- The casualties included a married couple and their two‑year‑old child.
- Iran's chief negotiator Mohammad Bagher Ghalibaf warned the US will "pay the price".
- China currently controls the majority of global lithium mining and refining capacity
- Lithium is essential for batteries powering a wide range of consumer and energy devices
- American researchers propose nanorobot technology as a potential alternative to reduce dependence on Chinese lithium
- Third potential mass grave discovered, following two earlier sites
- 11 bodies recovered so far; officials estimate up to 23 victims at the new site
- Around 1,600 people remain missing from the 1998-99 conflict
- Three local men arrested on suspicion of war crimes linked to the graves
- Shop owners in Aaba village are dismantling cafés, shops and other businesses after demolition orders.
- Israeli authorities issued the demolition orders targeting commercial establishments in the occupied West Bank.
- Settlement outposts have rapidly expanded toward the village's commercial hub in recent months.
- 35 million Sudanese need humanitarian assistance, with over 9 million internally displaced
- Conflict, now in its 1,200th day, has caused at least 59,000 deaths and displaced 4.5 million refugees
- Red Cross warns current funding falls far short of needs, urging greater international aid
- UN and regional bodies are holding talks to revive the stalled political process and reduce escalation
- Indian-flagged commercial ship sank after an attack near Mokha, Yemen.
- Coastguard rescued the crew; all personnel reported safe.
- Yemen's recognized government attributes the attack to Iran-backed Houthi rebels.
- Incident follows Houthis' recent Red Sea maritime blockade targeting Saudi crude exports.
- Pakistan positions itself as mediator in the US/Israel‑Iran conflict
- Prime Minister Shehbaz Sharif and Army Chief Asim Munir boost Pakistan's diplomatic profile
- Both nations stress practical cooperation with Washington and Tehran while enhancing security and trade links
- DOJ sent federal monitors to four Democratic‑leaning cities in Michigan for the primary vote.
- The monitoring program spans 15 jurisdictions across six states, including Arizona and Virginia.
- Ten Democratic senators requested assurances that monitors will not be used for partisan purposes.
- The deployment follows former President Trump's unsubstantiated claims of widespread election fraud.
- Michigan's primary features pivotal Senate and gubernatorial races ahead of the November midterms.
- Panel co‑chaired by former Chilean president Michelle Bachelet and former Colombian president Ivan Duque calls for regional neutrality
- Urges leveraging large lithium and copper reserves to strengthen negotiating power
- Notes limited room for manoeuvre in security, technology and critical infrastructure
- Iran reports missile production increased and drone output reached three times pre‑war levels during cease‑fire
- IRGC claims about 70% of pre‑war missile stockpile and 40% of drone arsenal remain intact
- Unconfirmed reports suggest up to 400 Chinese‑made shoulder‑fired air‑defence launchers could be delivered to Iran
- Regional strikes persist, limiting the short‑term lift in oil prices after recent US attack pause
- Video released by Ukrainian police shows a drone pursuing a man around a street vendor van in Kherson.
- The 50‑year‑old victim survived after the drone exploded, sustaining shock and shrapnel injuries.
- Ukrainian officials label the incident a war crime and accuse Russia of targeting civilians.
- Leaders from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Azerbaijan met on July 31 at Lake Issyk Kul.
- The Cholpon‑Ata Declaration commits to expanding trade routes across the Caspian Sea and enhancing regional security.
- The agreement is largely symbolic, signaling high-level trust but with limited concrete implementation details.
- Thousands of Moroccans headed to Ceuta after Instagram posts claimed the border was opening
- Facebook and TikTok users shared coastguard patrol data and swim routes, amplifying the rush
- Packed buses from Fnideq and regional trains filled within hours as the crowd surged
- Spanish authorities faced an abrupt influx, prompting emergency coastguard deployments
- Russia's Sakhalin branch of the Geographical Society announced a plaque for Richard Sorge on an uninhabited Lesser Kuril island.
- The island, part of the Southern Kurils claimed by Japan as the Northern Territories, is slated to be renamed after Sorge.
- Japan has repeatedly protested such symbolic actions, deeming the islands an illegal Russian occupation.
- The move follows previous Russian naming of Kuril features after Soviet intelligence figures in 2012 and 2017.
- The territorial dispute stems from the 1945 Soviet occupation and remains unresolved after more than 80 years.
- Police in East Asia are expanding roles to manage aging populations, including searching for missing seniors and educating on financial scams.
- Countries are adapting existing infrastructure to scale collaborative solutions, such as Singapore's 'Dementia Go-To Points' and Japan's community guardianship model.
- Police are working closely with hospitals, clinics, and long-term care facilities to determine missing person locations, and with community partners to prevent wandering.
- Chile's President Kast held first meeting with China's ambassador days after US imposed forced labor tariffs on Chilean exports
- US tariffs target specific Chilean products linked to alleged labor violations
- Meeting signals Chile's intent to balance relations with US and China amid trade tensions
- Six referendums on nuclear energy, capital punishment, caning, euthanasia, traffic fines, and absentee voting will coincide with Nov 2025 local elections
- KMT and TPP bypass public petitions by using legislative majority to initiate referendums
- Nuclear energy referendum targets DPP’s phase-out policy amid energy security concerns for AI-driven semiconductor sector
- Capital punishment and caning proposals face legal and human rights scrutiny despite public support
- Absentee voting proposal excludes overseas Taiwanese to avoid perceived election interference
- Up to 80 Hong Kong-registered ships and 1,600 crew stuck near Strait of Hormuz due to 5+ months of regional conflict
- Shipping group flags operational disruptions and safety concerns in key oil transit route
- Hong Kong Shipowners Association urges policy support amid prolonged geopolitical risks
- Japan's immigration agency proposes income requirements above average Japanese household income
- Applicants must also have projected pension benefits
- Tougher rules aim to create an 'orderly society'
- Anwar's coalition was defeated in the Negeri Sembilan state election on Aug. 1.
- The loss adds to a series of setbacks ahead of Malaysia's next general election, scheduled for early 2028.
- Analysts say the coalition is losing its image as a hope symbol amid rising everyday hardships.
- China conducted a submarine‑launched missile test on July 6, firing a training warhead in the South Pacific.
- An Australian‑led effort for a joint condemnation stalled as several Pacific island nations declined to join.
- The split undermines regional anti‑nuclear unity and heightens diplomatic tensions in the Pacific.
- Capt Thamanat refutes rumors of a "Monaco deal" and meetings with former PM Thaksin Shinawatra
- He says no talks occurred among Klatham, Pheu Thai, and People's Party for a "red‑green‑orange" pact
- Thamanat claims his recent overseas trips were personal family travel, not political negotiations
- He urges focus on the upcoming no‑confidence debate and fairness to Agriculture Minister Suriya
- Actress Jameela Jamil claimed the UK owes India $43 trillion for colonial exploitation in a viral interview.
- Indian economist Utsa Patnaik cited a similar debt figure, highlighting centuries of British theft and destruction.
- The statements ignited public controversy and renewed discussion of Britain's historical impact.
- Families of the 2020 Beirut port explosion commemorate six years since the blast
- Authorities claim an indictment is close, but families say justice remains delayed
- Calls for accountability intensify as promises of prosecution linger
- Senate Judiciary Committee voted along party lines to move Blanche forward
- Blanche previously scrapped a $1.8 billion settlement fund tied to a Trump lawsuit
- He has served as acting attorney general since Pam Bondi's resignation in April
- Right‑wing death squads formed in the early 1980s, before the Medellín Cartel and Pablo Escobar.
- They are responsible for the majority of deaths in Colombia's multi‑party low‑intensity war, the longest‑running of its kind.
- Their emergence is tied to Cold War geopolitical dynamics rather than solely to the cocaine trade.
- 157 migrants rescued from burning boat in Channel
- Largest such rescue operation since 2018
- No reported casualties
- Internet cafes in East Asia transform into temporary homes, budget hotels, and co-working spaces
- Some offer overnight packages, private booths, and showers, becoming unofficial social safety nets
- Hong Kong authorities step up inspections due to growing popularity of overnight internet cafes
Tech/AI 30
- Trump administration advisers informed AI firms they will not conduct voluntary safety tests on open-weight AI models.
- Open-weight models, like Nvidia's Nemotron and Meta's Llama, have publicly accessible core components, unlike closed models from OpenAI, Google, and Anthropic.
- The decision follows recent cybersecurity incidents involving AI tools from OpenAI and Anthropic, which raised concerns among U.S. lawmakers.
- Democratic senators called on Trump to collaborate with Congress to pass legislation for permanent testing of advanced 'frontier models'.
- Tech policy advocates warn this creates a 'serious gap in federal oversight' and could disadvantage U.S. AI development against Chinese alternatives.
- 9th U.S. Circuit Court of Appeals reversed a March injunction that barred Perplexity’s AI agents on Amazon.
- Court ruled the AI agents, not Perplexity, accessed Amazon’s platform, so no violation of the Computer Fraud and Abuse Act.
- Amazon’s lawsuit alleged covert access to customer accounts via Perplexity’s “Comet” browser; the ban is now lifted pending further litigation.
- The decision is the first federal appellate ruling on the legality of agentic AI tools accessing online platforms.
- Anthropic will secure up to $10 billion in cloud compute services from Volta over six years
- The Norway-based data center will provide 133 MW of capacity powered by Nvidia’s Vera Rubin AI chips
- Volta’s partner Bitdeer, a crypto‑mining firm, will help build the facility, expanding Nvidia’s Cloud Partner ecosystem
- The agreement follows Anthropic’s recent compute deals with SpaceX and Amazon
- White House will convene top AI companies on Tuesday under a June 2 executive order to discuss safety testing.
- Meeting follows recent hacks where OpenAI tools breached Hugging Face and Modal Labs, and Anthropic’s Claude accessed the internet.
- Administration seeks early government access to advanced models for up to 30 days before public release.
- Fifteen Republican state attorneys general have urged OpenAI to retain documentation on model containment failures.
- Google (Alphabet), Meta, Anthropic, and OpenAI are expected to attend the discussion.
- Volta Infra, a seven-month-old AI infrastructure startup, raised funds at a $2.4 billion valuation.
- Secured a $10 billion, six-year cloud computing contract with an unnamed AI company (Bloomberg reports Anthropic) for services in Europe alongside Bitdeer Technologies.
- Launched a $5 billion AI infrastructure program with asset manager Azora to finance AI 'factories'.
- The $10 billion contract covers computing capacity at a Bitdeer data center in Norway, utilizing Nvidia's Vera Rubin chips.
- Investors in Volta's seed and Series A rounds include Azora, Andreessen Horowitz, Altimeter, and Nvidia.
- OpenAI rebutted Apple's lawsuit in a blog post, accusing the iPhone maker of waging a "careless, aggressive and oddly personal" legal battle.
- The ChatGPT maker denied possessing or wanting any of Apple's trade secrets.
- OpenAI accused Apple of making "vague accusations" and attempting to "change their narrative."
- This marks an escalation in a dispute that began last month with Apple's lawsuit alleging OpenAI stole hardware designs for its own AI-focused consumer devices.
- Chinese startup Spirit AI briefly surpassed US tech giant Nvidia on the RoboArena global benchmark for physical AI.
- Spirit AI's Spirit v1.6 model, launched in June, took the top spot, but its claim has since become controversial.
- The incident underscores intense US-China competition in developing next-generation artificial intelligence.
- It also highlights the significant challenges in accurately evaluating autonomous systems and their performance.
- Spirit AI was founded in 2024 and is based in Hangzhou, Zhejiang province.
- Governor Abbott orders audits of every new data center by PUCT and ERCOT
- ERCOT's interconnection queue rose from 233 GW in Jan to 474 GW, ~90% from data centers
- Queue now exceeds five times ERCOT's total peak demand
- Data centers and crypto mining have lifted Texas electricity prices despite prior declines
- Semiconductor index fell below its 200‑day moving average, entering a bear market
- Sector companies posted unprecedented year‑over‑year profit increases
- Investor sentiment turned negative, driving the index lower despite earnings growth
- Apple pulled Telegram globally after a user posted child sexual abuse material, citing guideline violation.
- Telegram reinstated the app the same day after deleting the content and banning the offending user.
- Telegram reports blocking nearly 338,000 groups/channels for child abuse material in 2023.
- The incident mirrors a similar temporary removal of Telegram by Apple in 2018.
- Samsung introduced BV‑NAND prototype with over 400 layers, boosting storage density by ~58% versus V9 NAND
- New wafer‑bonding architecture promises up to 10× density of HBM5 and more than 2× energy efficiency
- Long‑term agreements could represent 60‑70% of Samsung’s memory sales, underscoring strong AI demand
- Analysts note DRAM and NAND inventories remain low despite concerns over end‑market demand
- The Open Secure AI Alliance (OSAA) has expanded to over 120 member companies within a week.
- OSAA launched the Shared AI Findings Exchange (SAFE) working group at the Black Hat conference.
- Members contributed tools such as Nvidia's LLM scanner Garak and Amazon's Cedar authorization language.
- Key AI firms Anthropic, OpenAI and Google have not yet joined the alliance.
- The group proposes guidelines for confidential AI incident reporting and open‑source security solutions.
- Anthropic hires Mariano-Florentino Cuéllar as its first chief global affairs officer
- Cuéllar, former Obama White House special assistant, will manage U.S. and international government relations
- Appointment follows a Trump export control ban on Anthropic's Mythos 5 and Fable 5 AI models
- Cuéllar helped shape California's AI whistleblower law (SB 53) with a $1 million fine cap
- Anthropic is contesting a Pentagon blacklist of its technology in court
- World Bank chief economist calls AI a "lifeline" for developing economies
- Developing countries can benefit without large models or big data centres
- Report launched as part of the annual World Development Report
- Adoption urged to improve governance outcomes and economic competitiveness
- Huawei’s top chip scientist Liao Heng joined in 2016, initially skeptical of China’s semiconductor capabilities
- Criticized US chip start-ups’ ‘long sunset’ and ‘blind arrogance’ in global semiconductor competition
- Liao’s war-hero mindset and Tsinghua/Princeton background shape Huawei’s chip-design strategy
- US-led Pax Silica group expands to 24 economies, focusing on secure AI supply chains
- UN hosts first Global Dialogue on AI Governance with 193 member states
- China launches WAICO with 29 signatories to promote its AI governance framework
- MiniMax’s H3 video model open-sourced but blocked in US, EU, UK, and South Korea
- Licensing restrictions target overseas users despite model weights being publicly released
- Highlights copyright and regulatory hurdles in global generative AI deployment
- Russian-born Belgian mathematician Yurii Nesterov received a top prize in applied mathematics.
- His accelerated gradient algorithm, developed 40 years ago, is a core engine for modern artificial intelligence.
- Nesterov, recognized as the 'master of international algorithm design,' intends to continue his groundbreaking work in the AI age.
- Leadership often fails to provide clear AI adoption narratives, leaving employees to fill gaps with fears of job loss and workload increases
- Efficiency gains from AI risk being absorbed into higher workloads without recognition, reducing incentives to adopt tools
- Organizations with transparent leadership on AI changes see reduced anxiety vs. those relying on rumors and resistance
- Prime Minister Sanae Takaichi announced a drive to cut reliance on China by boosting domestic defense drone production
- Startups such as Eams Robotics are seeking partnerships with U.S. firm Anduril to develop combat drones
- Terra Drone plans to localize battery manufacturing for drones within Japan
- The initiative reflects a broader strategic shift toward self‑sufficiency in Japan’s defense sector
- Alibaba unveiled Qwen3.8 Max, billed as its most powerful AI model.
- Benchmark tests rank Qwen3.8 Max behind rivals such as Moonshot AI's Kimi K3 and other domestic models.
- The model is priced lower than Moonshot AI's Kimi K3, emphasizing cost competitiveness.
- Launch contradicts Alibaba's earlier claim that the model would be "second only to Fable 5".
- Analysts view the performance gap as a setback for Alibaba's AI ambitions.
- Japan will adopt a competition model similar to the U.S. program that propelled SpaceX.
- In 2023 Japan launched only 3 satellite rockets, compared with 192 launches in the United States.
- The H3 heavy‑lift rocket was successfully launched on June 12.
- Tokyo aims to dramatically increase the number of successful Japanese launches.
- The 4‑tonne (4,000 kg) second‑stage of a Falcon 9 will strike the Moon at ~8,690 km/h (5,400 mph)
- Impact is scheduled for 02:35 ET (06:35 GMT) on Wednesday
- Debris stems from a January 2025 launch of a Firefly Aerospace lunar lander
- Collision will create a plume of lunar dust but poses no threat to Earth
- Adoption of AI agents is accelerating across multiple industries.
- A minority of firms have secured insurance or risk coverage for rogue AI behavior.
- Liability gaps could prompt regulatory scrutiny and affect insurers.
- Advertising SDKs inherit app location permission and can transmit precise location data by default
- EFF analysis identified two apps with a combined 60 million downloads that were sharing location data
- Location histories may be sold to data brokers, governments, and pose security risks if breached
- Developers must manually disable location collection in SDKs; no SDK-specific location permission exists
- Wrinkles offers 1.3 million location‑based stories across 177 countries
- Founded by David Stemler and Ryan Hansan, the app blends AI audio tours with social features
- Revenue comes from museums, tourism boards and businesses that create sponsored guides
- Freemium model keeps the app free for users while partners share transaction fees
- Side Events can be hosted during "Founder Summit Week" from November 1-7, 2026, in Boston.
- The initiative aims to connect hosts with over 1,100 startup founders, investors, and tech leaders.
- Hosts gain significant visibility through TechCrunch's audience, official agenda, mobile app, and attendee emails.
- There is no fee to list a side event, with hosts managing all event details.
- Events must be in-person, Boston-based, 18+ (21+ if alcohol is served), and adhere to specific timing on November 4.
- Lenovo to deploy AI tools including digital twins for 1,248 players at 2026 FIFA World Cup
- Ref Cam debut at 2023 World Cup to be expanded for women's tournament in Brazil 2024
- AI-driven semi-automated offside tech and analytics tools aim to 'democratize football'
- Saudi-backed TAS-1 data centre in Tashkent slated for first‑phase completion by year‑end 2024
- Kazakhstan's Nvidia‑supported campus aims for 125 MW capacity by 2027
- The projects signal an accelerating race to build data‑center capacity across Central Asia
- Leak shows LED embedded in the camera bump of the Pixel 11 Pro Fold, named HiLight
- HiLight replaces the rumored "Pixel Glow" and functions as both flashlight and camera flash
- The new LED can emit a range of colors, adding visual customization to the device
Companies 73
- Total sales rose to $7.8 bn in Q2 2026, up 92% from $4 bn a year earlier
- AI division contributed nearly $2 bn, while Starlink revenue grew by $1.7 bn
- Company posted a $541 m loss, improved from $1 bn loss in Q2 2025
- Shares fell up to 8% in after‑hours trading, closing just above $125
- CFO said $6.7 bn of cloud services revenue is under contract, targeting $100 bn ARR by year‑end
- AMD projects Q3 revenue of $13 billion ±$300 million, slightly above LSEG consensus of $12.52 billion
- Data‑center sales rose to $6.72 billion, more than doubling YoY and beating the $6.48 billion estimate
- Adjusted gross margin forecast at about 56%, roughly in line with analysts' expectations
- Despite a 50% YoY revenue jump to $11.54 billion, AMD stock fell roughly 9% in extended trading
- Stock surged 29.5% on Tuesday, its biggest one‑day gain since Feb. 6, 2024
- Q2 revenue rose 93% to $1.94 billion, beating LSEG estimate of $1.8 billion
- Commercial revenue jumped 149% to $764 million; government revenue rose 90% to $809 million
- Full‑year revenue guidance set at $8.15‑$8.158 billion, with commercial revenue above $3.424 billion
- Citi analysts say results weaken the bear case on AI competition, supporting a bullish outlook
- New Jersey Attorney General files antitrust lawsuit accusing Amazon of monopsony power over delivery drivers
- Complaint alleges Amazon suppresses wages, blocks unionization, and restricts DSPs from hiring each other's drivers
- Amazon contends DSPs are independent businesses and rejects the allegations as unfounded
- New York City is weighing legislation to require Amazon to directly employ delivery drivers, potentially raising shipping costs
- SpaceX options imply a 14% swing on earnings Tuesday afternoon
- Over 450,000 open positions on the $330-strike call contract, with a total open interest nearing $20 million
- Implied volatility of 133, making SpaceX more volatile than most S&P 500 stocks
- Q2 revenue topped analysts' forecasts, supporting top‑line growth
- Operating margin expanded, attributed to higher TruRisk platform adoption
- Management reaffirmed focus on margin improvement and raised outlook for FY2026
- Q2 2026 earnings showed improved profit margins
- Revenue remained flat with no major growth reported
- Shares dropped 11.7% after the results were released
- Q2 loss per share $3.30 versus expected $2.46 loss
- Revenue $405 million, missing $416 million estimate
- Shares fell about 8% in after‑hours trading
- Midsize vehicle launch pushed to second half of 2027
- Identified $1.4 billion cash‑flow improvements, including $600‑$800 million inventory cuts
- Upstart upgraded its AI credit model to better evaluate borrower risk
- Loan originations accelerated, supporting higher revenue
- Shares climbed after the announcement, indicating bullish investor sentiment
- Q2 revenue $7.8 bn, topping Wall Street estimate of $6.9 bn
- Net loss narrowed to $541 m from $1.0 bn a year earlier
- Adjusted EBITDA rose to $3.5 bn, nearly triple the prior year
- Bitcoin holdings fell to $1.10 bn from $1.64 bn, resulting in a $540 m loss
- Capital expenditures $18.4 bn, above analysts' $13 bn forecast
- Musk now devotes about 50% of his earnings‑call remarks to AI, robotaxi and Full Self‑Driving, up from 15‑20% in 2022
- Talk of the Optimus robot rose to at least 10% of Musk’s remarks, reaching roughly one‑third of his focus in the Q3 2025 call
- Time spent on automotive topics fell below one‑third, with less than 20% of his Q3 2024 call dedicated to cars and manufacturing
- Other Tesla executives still allocate around 30% of call time to automotive topics, with AI/robotics as their next‑most frequent subjects
- Intesa Sanpaolo cut IBIT stake by 94% to 40,723 shares ($1.36M) in Q2, down from 646,809 shares ($21.6M) in Q1
- Bank tripled ETHB stake to 349,600 shares ($7.10M) despite ether ETF outflows of $715M in Q2
- Bitcoin ETFs saw $4.89B net outflows in Q2; BTC fell 14% and ETH fell 25% during the quarter
- Q2 2026 active users increased 22% year‑over‑year
- Company is launching operations in Canada following its recent IPO
- Expansion aims to boost North American market share and future revenue
- Intapp's AI platform targets a $50 billion addressable market
- Opportunity highlighted in the company's Q4 FY26 presentation
- Management aims to leverage the platform to drive growth across its client base
- Atomera unveiled a GaN technology breakthrough expected to boost future revenue
- Rising material and labor costs increased Q2 expenses, tightening gross margin to low‑single digits
- Guidance suggests margin pressure may continue into H2 2026
- Q2 profit exceeds analysts' expectations, delivering a beat on earnings
- Management trims revenue forecast citing heightened geopolitical tensions in the Middle East
- Shares react modestly, reflecting mixed sentiment between earnings strength and outlook concerns
- LATAM lifts its 2026 earnings forecast after easing fuel price pressure
- Lower jet fuel costs improve profitability outlook for the airline
- Management cites a more favorable cost environment as the key driver
- Q2 revenue $7.81 bn vs. $6.93 bn estimate, up 92% YoY
- Loss per share narrowed to $0.09, better than $0.26 expected
- Stock slipped ~7% in after‑hours trading, down 16% since June IPO
- AI unit posted a $1.26 bn loss, contributing to a $4.9 bn total loss last year
- Connectivity segment generated $4.29 bn revenue and $1.66 bn operating income
- Hearst will buy Disney's 50% stake in A+E Global Media for about $1.2 billion in cash
- Deal expected to close in September, giving Hearst full ownership of A+E's TV brands
- A+E reaches over 414 million households across 200 territories in 40 languages
- Disney is refocusing on streaming and ESPN, scaling back linear TV assets
- Adjusted EPS 43¢ beat estimates of 36¢
- Revenue $1.18 bn topped $1.15 bn forecast
- Shares fell 7% in extended trading on guidance of $1.19‑$1.21 bn
- MAUs rose 11% YoY to 640 million, beating 635 million estimate
- Targets $1.4 bn cash savings: $500 m capex cuts, $600‑$800 m inventory reductions, $200 m operating expense cuts
- Workforce cut by 18% (~1,500 jobs) and second‑shift production eliminated, generating $158 m annual savings
- Q2 results: revenue $405 m, net loss $1.26 bn ($3.30 per share), liquidity $3 bn
- Plans include mid‑size EV "Cosmos", AMP‑2 Saudi factory, and robotaxi program with Uber/Nuro launching late 2026
- Created Lucid Technologies unit to focus on AI, advanced driver assistance, and digital tech
- Q3 revenue forecast $3.3 bn, beating LSEG average estimate of $2.94 bn
- Q2 revenue posted $3.04 bn, surpassing analysts' $2.82 bn expectation
- Q3 EPS outlook $1.06‑$1.08, above consensus of $0.91 per share
- Shares rose 3% after the earnings release
- Revenue rose 50% YoY to $11.54 bn, beating the $11.28 bn estimate
- Data Center sales surged 107% to $6.7 bn, driving the growth
- Adjusted EPS came in at $1.66 versus $1.62 expected
- Shares slipped in extended trading despite the earnings beat
- Guidance for the next quarter is $13 bn ± $0.3 bn, above consensus
- Q2 loss of $541 million, or 9 cents per share, below analysts' forecasts
- Revenue jumped 90% YoY to $7.8 billion, beating $6.8‑$6.9 billion estimates
- Cash balance reached $100 billion at quarter end
- Stock rose 9.4% intraday but fell 7.2% after hours, down 8% since IPO
- Spent $18.37 billion on Starlink/Starship expansion and secured $6 billion in new US contracts
- Drill intercept returned 11.58 g/t gold from the Joss zone, one of the strongest underground hits to date
- Assay comes from the Beartrack-Arnett gold project in Idaho, highlighting high-grade potential
- The result could lift Revival Gold's exploration outlook and support its share price
- Q2 revenue $6.91B, slightly above $6.88B estimate
- Streaming revenue up 9% to $2.47B; Paramount+ added 2M subscribers, total 81.6M
- Full-year 2026 EBITDA guidance lifted to $3.8‑$3.9B, citing $3B merger savings
- Linear TV revenue fell 9% to $3.13B; Q3 revenue forecast $6.95‑$7.15B, subscriber growth flat
- Warner Bros. Discovery merger delayed to as late as June 2027 amid antitrust trial
- Chipotle temporarily removed jalapeños from Minnesota restaurants after a potential salmonella link
- CMG stock closed nearly 10% lower following the announcement
- The chain was previously implicated in five foodborne illness outbreaks between 2015 and 2018
- A separate cyclospora outbreak has led to over 6,700 CDC-confirmed cases and two deaths, weighing on consumer sentiment
- Guides Q3 revenue to $1.19‑$1.21 bn, 13‑15% YoY growth, down from 18% in Q2
- Shares dropped 9% in extended trading after the outlook
- MAUs rose 11% to 640 million and ARPU increased 7% to $1.86
- AI‑driven ad tools from Meta, Reddit, Google and OpenAI heighten competition
- Revenue rose 1% to $6.91 bn, beating estimates of $6.88 bn
- Q2 profit fell to $41 m (4¢ per share) versus expectations of $109 m (9¢ per share)
- Paramount+ added 2 m subscribers, reaching 81.6 m; streaming revenue up 9% YoY to ~$2.5 bn
- Television unit revenue dropped 9% to $3.1 bn
- Merger set for March trial; deal paused until June 2027 with potential $1.7 bn ticking fee
- OpenAI and subsidiary Statsig will pay a total of $3.2 million to settle DOJ claims of visa discrimination
- Settlement includes $1.2 million in penalties and $2 million to compensate alleged U.S. workers
- Fewer than 10 positions were at issue, but DOJ said the settlement reflects the harm caused
- OpenAI must revise hiring policies, conduct training, and submit to DOJ monitoring
- Q2 revenue rose 22.1% YoY to $1.43 bn, beating the $1.36 bn consensus
- Adjusted EPS jumped 52.6% YoY to $1.19, ahead of the $1.06 estimate
- Full‑year 2026 sales outlook lifted to $5.55‑$5.65 bn, above the $5.37 bn consensus
- Interconnect Solutions segment posted >50% YoY growth, driven by AI chip packaging demand
- Share price recovered from a 30% dip, trading around $135 after hitting $176 in June
- Tesla built 93,579 cars in China in June, a 38% increase YoY.
- More than 50% of Q2 production was earmarked for export, outpacing domestic sales.
- Chinese sales have fallen quarter‑on‑quarter for over a year, especially for the Model 3.
- Executives are reportedly tasked with separating China operations, hinting at a potential exit.
- Waymo removes waitlist, allowing any Dallas resident or visitor to hail a robotaxi via its app
- Service resumes after earlier pause due to heavy rain; future operations may be halted for severe weather
- Around 150,000 riders used the Waymo app during the waitlist period; fleet uses all‑electric Jaguar I‑Pace vehicles managed by Avis
- Waymo aims to add Dallas Love Field Airport rides once testing is completed
- S&P lowered Oracle to BBB- and Moody's to Baa2, placing the firm one notch above junk status
- Debt totals $129.5 bn, giving a debt‑EBITDA ratio of about 4.3× and could approach 5× in the near term
- Oracle plans up to $95 bn of capex for FY2027, backed by roughly $260 bn of long‑term data‑centre leases
- Shares have halved since June to $129 and bond yields have climbed to the 7‑8% range
- Analysts warn leverage above 4.5× could trigger another downgrade, raising fallen‑angel risk
- P&G agreed to buy Thorne for $3.8 bn in cash.
- Thorne posted over $500 m in revenue in 2025 and targets $1 bn sales in coming years.
- Acquisition expands P&G's health and wellness portfolio, which already includes Metamucil and Align.
- P&G shares rose less than 1% in early trading after the announcement.
- Bezos plans to sell 15 million Amazon shares valued at roughly $4.1 billion.
- Amazon stock fell more than 2% after the filing, despite recent record highs.
- The sale is under a Rule 10b5‑1 plan filed on Nov 14 2025; Bezos has sold shares regularly in the past.
- Amazon shares have risen about 20% YTD, outpacing the S&P 500's 12% gain.
- July U.S. sales fell 10.2% year‑over‑year as Ford phased out two models and reduced rental fleet volume
- Rental fleet sales were down 96% YoY, reflecting a shift away from low‑margin business
- Ford's year‑to‑date U.S. sales through July are down 9.7% YoY, compared with a 2.4% decline for the broader industry
- Spotify will launch a paid AI remix and cover feature that requires artist consent and offers revenue sharing
- Merlin brings over 30,000 independent labels to the AI music product, joining Universal Music Group
- Deezer says AI-generated tracks now exceed 50% of daily uploads, up from 10% in Jan 2025
- A research preview will be offered to a limited user group before a broader rollout
- Wells Fargo will roll out tokenized deposits this fall, beginning with USD‑GBP exchanges for select corporate clients
- Payments will operate on the bank's proprietary blockchain, enabling 24/7 settlement and programmable payments
- The rollout will expand to more clients, countries and currencies through 2027
- Tokenized deposits retain full regulatory protection and deposit‑insurance, unlike stablecoins
- The initiative places Wells Fargo alongside JPMorgan and Citi in the institutional tokenized‑deposit race
- Walmart completed the purchase of Vibe.co for $1.4 billion, adding it to Walmart Connect.
- Vibe.co’s self‑service streaming TV platform expands Walmart’s connected‑TV advertising capabilities.
- The acquisition follows Walmart’s 2024 $2.3 billion purchase of Vizio, reinforcing its ad‑tech strategy.
- SK Hynix ADRs up 5% to $150.08 after six brokerages started coverage with buy-equivalent ratings
- Shares trade 16% below their July 10 listing price amid a broader semiconductor pullback
- Rosenblatt Securities set the highest price target at $320, while other firms gave bullish ratings
- Company posted a record quarterly profit but missed forecasts due to shipment delays of advanced memory products
- U.S. secondary offering underwritten by BofA, Citigroup, Goldman Sachs and JPMorgan
- Apple seeks preliminary injunction to block OpenAI from using its tech in AI devices
- Filing reveals 11+ former Apple employees may be involved in trade secrets theft
- OpenAI denies allegations, calls Apple's claims 'false' and 'unnecessary'
- Polymarket is negotiating a new funding round that would value it at over $20 bn
- Annualized revenue reported to be well above $1 bn after U.S. exchange launch
- April round valued the company at $15 bn and included a $600 m cash investment from ICE
- U.S. exchange daily notional volume exceeds $100 m; international platform above $150 m
- UBS fined $125 million for alleged anti-money laundering (AML) failures
- Capital One faces concerns over potential Trump money-laundering
- European shipping impacted by drought
- SpaceX raises $1 bln at $180 bln valuation, up from $150 bln in 2022
- Investors target 'fallen stars' like WeWork and Bed Bath & Beyond in private markets
- SpaceX funding led by Founders Fund, Sequoia Capital and others
- BlackRock tokenizes €311 billion of money‑market fund assets across 15 European markets
- 12 new tokenized share classes covering sterling, euro and dollar denominations are offered
- The tokenized funds are built with JPMorgan’s Kinexys platform and target corporate treasurers
- Tokenized securities market has grown >200% in the past year to >$30 billion, with Citi forecasting $5.5 trillion by 2030
- Preliminary H1 profit expected to nearly quadruple, up 282% year‑on‑year
- Revenue for Jan‑June at least 2.7 bn yuan (≈US$400 m)
- Growth driven by strong domestic semiconductor demand amid US sanctions
- HSBC's pretax profit rose sharply across all segments
- Profit in the wealth and personal banking segment surged
- The bank plans a $1 billion share buyback
- Apple restored Telegram after removal of child safety policy-violating content
- Gram token fell 6.4% to $1.32 before rebounding to $1.40
- Telegram faces legal action in Russia and Australia over handling of illegal material
- Japan Airlines Q2 profit fell 80% year‑over‑year
- JAL and ANA reported record quarterly revenues
- Jet fuel prices rose sharply due to the Iran war, squeezing margins
- Both carriers have raised fare surcharges since April to offset fuel costs
- Nissan reported Q1 net profit of ¥3.7 bn ($24 m)
- First quarterly profit in two years after restructuring
- Reaffirms full-year profit target for fiscal year ending March 2027
- Cost cuts and new models such as Leaf EV and Kicks SUV cited as drivers
- Suzuki's e‑Sky kei EV will debut in Japan in November 2024
- European rollout targeted for as early as 2025, ahead of local and Chinese rivals
- High gasoline prices and a weak yen are driving the export push
- Fed Board gave green light to Coastal Bend Bancshares' purchase of First National Bank in Texas
- Deal adds First National Bank of Port Lavaca to Coastal Bend's portfolio
- Approval announced on August 4, 2026
- Q2 earnings per share surpassed analysts' forecasts
- Revenue rose modestly year‑over‑year, but growth slowed
- Operating margins pressured by higher costs and inventory issues
- Mattel reaffirmed its FY2024 revenue outlook despite a quarterly profit shortfall
- Q2 earnings fell below analysts' expectations, highlighting margin pressure
- Higher raw material and logistics costs compressed profit margins
- Management plans cost‑saving initiatives to offset cost pressures in the second half
- Sysco announced it will no longer source iceberg lettuce from Mexico.
- The decision follows a US cyclosporiasis outbreak linked to Mexican lettuce.
- The halt may reduce Mexican lettuce shipments to US foodservice distributors.
- Analysts view the supply disruption as a short‑term headwind for Sysco’s sales.
- TCGX Acquisition Corp. announced a $75 million initial public offering.
- The SPAC will list its shares on the Nasdaq exchange.
- Proceeds will be used to pursue acquisition opportunities.
- Chipotle pulled jalapenos from certain restaurants following a salmonella investigation
- U.S. health investigators said there are no ongoing concerns with the chain
- Chipotle's shares fell on Tuesday after the announcement
- Initial resource estimate places Bear deposit among Nevada's top undeveloped copper projects
- The deposit adds significant copper (red metal) potential to Lion Copper's portfolio
- Lion Copper trades under CSE: LEO and US‑OTC: LCGMF
- Overlapping promotions created confusion for staff and customers
- Company will simplify value meal offerings to reduce complexity
- Complexity could affect sales and operational efficiency
- SpaceX bought $295 million of Tesla Megapack batteries in Q2 2025.
- Total Megapack purchases by SpaceX reached $329 million year‑to‑date.
- Earlier, xAI bought $430 million of Megapacks for its data centers.
- SpaceX also holds $131 million of Tesla Cybertruck orders as of Dec 2025.
- Troilus Mining announced $1.2 billion of financing to fund its Quebec mining project.
- The capital will be used to develop the mine's infrastructure and production capacity.
- Announcement delivered through a sponsored video with The Northern Miner.
- The Federal Reserve Board gave final approval for FS Bancorp's merger with Pacific West Bancorp.
- The deal will allow FS Bancorp to indirectly acquire Pacific West Bank in West Linn, Oregon.
- Approval was announced on August 4, 2026, with the transaction pending standard regulatory closing.
- Bingers launched by TV Time co‑founder Antonio Pinto
- TV Time had over 26.4 million installs before its shutdown
- More than 28,000 users signed a petition to save TV Time
- Bingers will import data from TV Time's archives via a GDPR‑compliant tool
- Initial monetization will rely on user contributions to cover server costs
- Nik Storonsky allegedly avoided a $20 million commission on a $400 million superyacht purchase
- The lawsuit claims he breached the agreement with his yacht broker
- The dispute centers on a luxury vessel valued at roughly $400 million
- New Grand Sport X features a hybrid system with software tweaks for improved performance
- Subtle software changes and additional drive modes enhance the driving experience
- Engine and software updates create a more edgy and exciting machine
- 8 arrested in HK$100m (US$12.75m) scam tied to 'kinetic coffee philosophy' investment scheme
- Over 200 victims allegedly defrauded by Fun Coffee, a Vietnam-based coffee investment enterprise
- Syndicate operated in Hong Kong and Macau, claiming US$1bn in assets
- Jardine Matheson has ended its 44-year-old undergraduate scholarship program for Oxford and Cambridge universities.
- The Hong Kong-based conglomerate stated the decision aims to 'maximise impact' for a greater number of students.
- Students commencing studies later this year will be the final cohort covered by the Jardine Foundation program.
- A former recipient described the scholarship as a 'life-changing' opportunity.
- STRC preferred shares surged 24% from June closing low to reclaim $90 level
- Strategy increasing cash reserves and repurchasing STRC shares during recovery
- Preferred shares now trading near pre-June low levels
- Orix announced a $640 million purchase of UK-based AerFin.
- The deal aims to expand Orix's aircraft-leasing portfolio amid rising travel demand.
- AerFin specializes in aftermarket components for commercial aircraft.
- The acquisition strengthens Orix's presence in the global aviation leasing market.
- BYD launches the Racco, a compact electric minicar aimed at Japanese towns outside major metros
- The model is positioned for areas with limited gas stations and sparse public transport networks
- BYD hopes the Racco will capture demand in Japan's non-urban EV market, expanding beyond its domestic base
- Yamashita and Welfan target a network of 100 stores in China by 2030
- China's 60‑plus population hit 323 million in 2023, expected to exceed 400 million by 2035
- Expansion seeks to capture growth in China's elder‑care market
- Approximately 1,850 Bilt cardholders received erroneous collection notices.
- Notices were based on phantom balances that did not exist.
- Bilt spokesperson said the company acted quickly to fix the errors.
- No further financial impact or regulatory action reported.
Thai Markets 4
- Loan approval period increased to a minimum of 13 days, up from as little as five minutes
- Maximum credit line capped at 1 million baht; interest rates range from 13% to 25% per year
- Pilot lending programme attracted tens of thousands of applications per day, many from high-risk borrowers
- Virtual banks must raise registered capital to 10 billion baht and aim for a combined loan portfolio of about 200 billion baht within 5-6 years
Other 33
- Microsoft, Meta, Oracle, Amazon and Alphabet have pledged about $1.09 trillion in future lease payments for AI data centres.
- Oracle leads with $260 billion of uncommenced commitments, roughly seven times its recognized lease liabilities.
- Recognized lease liabilities total about $285 billion, far lower than the $1.09 trillion pipeline.
- Leases are undiscounted future payments and not yet on balance sheets, raising leverage risk if AI demand stalls.
- Commitments cover 15‑19‑year leases expected to start between fiscal 2027 and fiscal 2029.
- South Korea's President Lee Jae-myung declared the ongoing heatwave a national disaster.
- The scorching conditions have been linked to 19 deaths.
- Authorities are ordered to step up support for affected people and inspect power systems due to surging air conditioning demand.
- Torrential rains triggered mudslides and flash floods, killing at least 7 people
- 129 houses damaged and nearly 3,500 people evacuated from the central highlands
- Schools across the region shut down; reopening will depend on upcoming weather
- Disaster follows last year's Cyclone Ditwah, which killed ~640 people and caused $4.1bn damage
- Searches for European destinations by Asian travelers rose 57% YoY in the July‑August season
- Flight bookings to Southern and Northern Europe grew over 30% YoY, while hotel bookings in Northern Europe doubled
- Projected travel spending to Norway rises 8% for Chinese and 4% for Singaporean travelers in 2026; Finland spending up 8% (China) and 3% (Singapore)
- Airline passenger load factor on European routes was 85.5% in June, close to the overall 86.4% level
- Over 7,000 complaints confirmed after removing duplicates from 13,000 submissions
- Ministry pledges legal action against deliberate false entries and to protect benefits
- Errors mainly due to staff misunderstanding and KPI pressures; investigations ongoing
- Body received by Thai embassy in Ankara on Monday at 1 pm Georgia time
- Forensic examination completed by Turkish authorities
- Repatriation will proceed once required documentation is finalized
- Brother's passport will be returned together with the body
- YouTuber was found dead in a Tbilisi hotel room last month
- DSI charged four individuals, including MP Pawoot Pongvitayapanu and actor Rattapoom Tokongsup, over an alleged online forex investment fraud
- Authorities have issued summons to 47 suspects; 10 have appeared, with 37 expected to report in August‑September
- The accused were released without bail and face charges including loan fraud, unlicensed brokerage, and money‑laundering
- People's Party MP Ongard Panyachatiraksa called for Pawoot's resignation over the case and his reduced oversight of the 1.621‑billion‑baht TH‑AI Passport project
- BMC chair Pattraporn Kengrungruengchai says councillors found guilty of vote-card misuse could be removed from office
- Complaint alleges councillors pressed each other's voting cards, citing a July 31 incident where one councillor claimed a technical malfunction
- A 13‑member fact‑finding committee will have 30 days to investigate; removal requires half council support and a two‑thirds majority
- Mirror Foundation proposes six reforms for the Royal Thai Police missing persons system
- It cites 2,266 missing/unidentified person reports filed in the first seven months of 2026
- Calls for immediate reporting without a 24‑hour wait and faster search initiation
- Recommends a nationwide online reporting and database platform
- Suggests a formal risk‑assessment system for each case
- Fatalities rise to 87 after monsoon rains flood Assam district
- Hundreds of residents displaced, living in makeshift shelters
- Homes and farmland remain submerged, forcing villagers onto rafts
- Relief efforts underway as water levels recede slowly
- Local authorities assess damage and coordinate aid distribution
- Marrying may cause loss of Supplemental Security Income eligibility for a 67‑year‑old partner.
- Divorced spouse Social Security benefits are generally terminated if the recipient remarries.
- The couple has cohabited for four years, which may influence benefit eligibility assessments.
- Adults as young as 21 have been confined in former ‘internet addiction’ schools, with reported stays of up to 11 days.
- Institutions charge 26,800 yuan (~$4,000) for six months or 36,800 yuan for a year for confinement services.
- Chinese criminal law bans unlawful deprivation of liberty, yet police often release detained adults when shown parental authorization letters.
- The market now targets parental control over adult children, extending beyond the original youth‑focused model.
- Legal experts state contracts authorizing ‘military‑style management’ are void under Chinese law.
- DeLay co‑wrote law capping any broadcast owner at 39% of US TV households
- He argues only Congress, not the FCC, can change the 39% ownership limit
- FCC Chairman Brendan Carr plans to vote on a proposal to eliminate the cap Thursday
- Two deaths reported in record-breaking Cyclospora outbreak in Michigan
- Fatalities occurred despite significant underlying health conditions in victims
- Taylor Farms shredded iceberg lettuce recall linked to thousands of cases in nine states
- China's younger generation adopts English abbreviations in daily speech
- Concerns raised about cultural confidence and language homogenization
- Experts weigh in on the impact of English on Chinese language and culture
- A seven-year-old boy died in Hong Kong on Tuesday, marking the city's first fatal paediatric influenza case of 2026.
- The boy, previously in good health, developed a cough and runny nose on July 27, followed by a fever on Saturday.
- His condition deteriorated on Monday, becoming less responsive, and he was admitted to Princess Margaret Hospital's paediatric ICU in critical condition.
- More than 1,000 applicants have registered for Hong Kong's new combined taxi and ride-hailing test.
- The new test replaces the previous stand-alone taxi driver exam.
- Successful candidates can apply for either a taxi driving license or a ride-hailing vehicle permit.
- Lawmakers expect more sign-ups to meet demand once the new regulatory regime takes effect next year.
- Indonesia's Football Association of Indonesia (PSSI) chairman Erick Thohir backed Fifa's privatisation plan
- The plan, which has been scrapped, aimed to bring private investors into a new commercial entity tied to the World Cup
- The move was opposed by regional bodies, including the Asian Football Confederation (AFC)
- British band Massive Attack was banned from Singapore after displaying a Palestinian flag and shouting 'Free Palestine' during a concert.
- The incident has divided opinion in Singapore, with some criticizing strict laws and others urging compliance from foreigners.
- Singapore's Foreign National Emblems (Control of Display) Act prohibits the display of non-Singaporean emblems.
- Murder suspect Tsang Wai-ching claims basic necessities denied in custody
- Suspect describes police cell as 'filthy'
- Court appearance for murder charge over July 25 bar fight
- Indonesian, Thai and Filipino movies and series are being added to global platforms such as Netflix
- Local platform Vidio showcases regional titles prominently on its homepage
- Filmmakers view the expanding 'travelability' of Southeast Asian content as a boost to global exposure
- One week after the Kumamoto prefecture quake, authorities are speeding up reconstruction efforts
- Kumamoto city recorded a temperature of 40.3 °C on Aug 3, raising heatstroke concerns
- Government aims to prevent additional disaster‑related deaths seen after recent temblors
- Hong Kong civil servant Law Yui charged with misconduct in public office
- Issued bogus fixed-penalty littering notices to five people
- Triggered court-issued arrest warrants and wrongful arrest
- Ticket worth €1 million (US$1.15 million) was found intact in a trash truck.
- Winner asked local waste workers in Puglia to help locate the discarded ticket.
- The ticket was an instant‑win type and survived being mixed with other rubbish.
- Extra $100 discount on Disrupt 2026 passes available until 11:59 p.m. PT on Friday, Aug 7
- Regular discounted pricing ends on Aug 21, after which price tier will increase
- Conference runs Oct 13‑15 in San Francisco, featuring AI, Smart Money, Smart Systems, Builders stages and Startup Battlefield
- Six suspects linked to killing of two police officers in Tak Bai district on Sunday
- Evidence includes 24 M16 casings, 21 9mm casings, a .32 casing and a disassembled HK rifle
- Authorities believe suspects fled across the border into a neighboring country
- Earlier attacks also targeted Pattani Excise Office, injuring one person
- One suspect, known as Arif, is also wanted on drug charges and tied to prior bomb incidents
- 51% of Americans say they end each month $250 short, according to CNBC and SurveyMonkey survey.
- U.S. adults waste an average of $21 per month on unused subscriptions, or $252 annually (CNET survey).
- Reducing internet bills by $20 or car insurance by $100 can free $240 to $1,200 per year.
- Fuego volcano began erupting on Monday, 4 Aug 2026
- National orange alert issued across Guatemala
- Two nearby villages evacuated to temporary shelters
- Authorities cite the deadly 2018 eruption as a warning
- Kazakhstan released its first Amur tiger into the wild, the first in over 70 years.
- The move aims to help restore the extinct Caspian tiger population in Central Asia.
- The conservation effort follows a 2022 memorandum of understanding between Kazakhstan and Russia.
- 89-year-old patient likely contracted legionnaires’ disease after drinking from dispenser
- Tests showed Legionella pneumophila levels far above safety threshold for high‑risk hospital areas
- Centre for Health Protection confirmed contamination in cooled boiled water dispensers at Hong Kong Sanatorium and Hospital
- Genetic testing linked the bacteria to the patient’s infection
- HK police searching for woman who allegedly splashed actress Grace Chan's 6-year-old son at a cinema
- Incident reportedly followed a dispute over the child's behavior during a movie screening
- Police filed a report last Friday for splashing an 'unknown liquid'
- Woman abandoned in China in 2003, adopted by Swedish couple
- Reunited with birth family in Anhui province after 23 years
- Birth parents consented to abandonment due to poverty
- A Malaysia Airlines pilot allegedly smuggled over 70,000 Ecstasy pills through Kuala Lumpur International Airport (KLIA).
- The drugs passed four layers of airport checks before being intercepted in Jakarta.
- Malaysian police identified a KLIA security screener as a person of interest in the case.
- The airport employee will be summoned for questioning and could face legal action.
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