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Moonshot AI has released Kimi K3, a 2.8-trillion-parameter open-weight model that has overtaken several leading U.S. systems on blind coding benchmarks and ranked competitively on broader tests. The model is scheduled to publish its weights on July 27. The launch is jolting tech markets, raising questions about pricing, open models and U.S.–China AI competition.
Dimon has said the next JPMorgan CEO must possess broad, flexible thinking, deep brain power and emotional intelligence, and he believes the bank already has a strong bench ready to take over when needed. He emphasizes experience across the company and the ability to lead with empathy and strategic judgment.
Andy Burnham is poised to become Britain’s next prime minister following Keir Starmer’s departure. The transition comes after a rapid leadership handover and a flurry of policy moves designed to shape Labour’s early tenure. Burnham’s rise follows a decade of climb through Labour's ranks and a successful return to Parliament.
The UK has sealed a 5.2 billion-pound services trade deal with Switzerland, scrapping roaming charges and putting a 90-day services mobility provision on a permanent footing. E-gates will speed border checks for UK travellers, while pharmaceutical protections are maintained. The agreement is described as a landmark for UK services and follows a string of deals with key partners.
The National Energy System Operator has issued multiple margin notices as Europe’s heatwave pushes demand higher and generation lower. Independent investigations are underway into whistleblower claims about record-keeping and decision making, while ministers stress grid resilience.
Independent reports Octopus Energy urges the next UK prime minister to overhaul the electricity market. It says reform could save households up to £114 annually and reduce bills by billions across the economy by 2050, though it warns reform would take two years.
EasyJet has agreed in principle to a 6.90 per‑share offer from Castlelake, valuing the carrier at about £5.5 billion, with the board saying terms are at a value they would be minded to recommend if a formal bid is tabled. Apollo Global Management has emerged as a rival bidder, widening Europe’s airline M&A contest. Regulators remain a hurdle.
Labour leader Andy Burnham has announced his plan for a new prime ministerial team, outlining who may fill key roles such as chancellor and foreign secretary. Reports indicate Shabana Mahmood is favored for the Treasury and Ed Miliband could take a back seat amid a shifting cabinet dynamic as Burnham prepares to take office.
Netflix is expanding its strategy to boost engagement by exploring always-on live channels, launching publisher deals for short-form video, and considering free-tier content as it intensifies competition with YouTube, Disney, and others. Analysts expect continued emphasis on ad-supported revenue and content diversification.
GDP has risen by 0.1% in May, driven by services though production and construction slipped. The upside comes amid ongoing Middle East tensions and ahead of a new prime minister taking office, with analysts noting fragile momentum and potential inflation risks.
U.S. President Donald Trump has offered to help end the Russia-Ukraine war in a nearly 90-minute call with Vladimir Putin and has agreed with Volodymyr Zelenskyy to continue negotiations at next week’s NATO summit in Ankara. Ukraine has struck oil and naval facilities near St. Petersburg, and Russia has responded with heavy missile and drone strikes on Kyiv.
E. Jean Carroll has received more than $5.62 million that a 2023 jury awarded after finding Donald Trump liable for sexual abuse and defamation. The funds had sat in court escrow while Trump exhausted appeals and sought last-minute delays; the Supreme Court recently declined to hear his appeal, allowing a judge to order the disbursement.
SK Hynix has raised $26.5bn by selling 177.9m American depositary receipts at $149 each, in the largest-ever US share sale by a foreign company. Its ADRs have begun trading on Nasdaq under temporary ticker SKHYV and will convert to SKHY; the company is using proceeds to expand fabs, packaging and EUV capacity as AI-driven memory demand surges.
The Strait of Hormuz could see a formal system to charge ships for passage as countries near the waterway explore governance changes after a war that disrupted oil flows. Oman is signaling flexibility on fees while stressing any scheme will align with international law, and Washington remains opposed to tolls.
OnePlus has announced it will stop launching new phones in Europe and North America and will focus new device rollouts on India and China. The company has said existing phones will keep receiving software support, but OxygenOS will be replaced globally by Oppos ColorOS with the Android 17 update.
SpaceX COO Gwynne Shotwell has donated a portion of SpaceX stock to the Trump Accounts for more than 2 million U.S. children, with emphasis on those in lower-income areas near central Texas. The move follows earlier pledges from Michael and Susan Dell and other tech giants, as the program seeds $1,000 per child and enables future retirement-style accounts. Officials say donations accelerate the accounts’ rollout.
Bloomberg and The Guardian collate evidence suggesting a close, controversial link between the Trump family’s crypto ventures and private financier Justin Sun, prompting lawsuits and calls for more transparency.
Menlo Ventures has backed Anthropic since 2023, turning a $4.1 billion pre-money valuation into a potential multi-billion-dollar windfall as Anthropic prepares to go public. The investment has reshaped Menlo, contributing to a new $3 billion fund and elevating Anthropic as a major challenger to OpenAI in AI safety and capability.
The US and Iran have exchanged fresh strikes this weekend and on Monday, reversing a recent interim ceasefire and re‑opening doubt over control of the Strait of Hormuz. President Donald Trump has declared the ceasefire "over," ordered further strikes and revoked a temporary oil waiver. Oil has jumped into the high $70s–$80s and global markets have fallen.
Ukrainian drone strikes and Russia’s wartime economy are pushing Russia toward a prolonged strain. Inflation, higher taxes, and heavy military spending have tightened civilian life, with analysts predicting years of economic hardship ahead.
Banks and asset managers are shifting funding as borrowers chase capital for AI-related growth. Bloomberg reports a $3.25 billion loan facility led by JPMorgan for QTS Realty Trust, with a parallel pivot away from a planned $1 billion bond sale. Other Bloomberg notes show new funds targeting market dislocations.
The government has proposed ending the affordable housing quotas for new developments of 10 to 49 homes to jumpstart housebuilding. The National Housing Federation warns this could cost up to 32,000 affordable homes over 10 years, hitting rural England hardest. Ministers say the aim is to simplify the process and speed up housing delivery.
Indian markets show strong demand for public offerings while foreign investors pivot toward Indian government bonds in anticipation of potential index inclusion and tax reforms.
The Gordie Howe International Bridge has moved toward opening after Canada funds a toll-profit sharing plan and the two countries sign an agreement. The delay has been tied to U.S. politics and a donor with interests in the neighboring Ambassador Bridge. Commercial traffic is expected before Aug. 1, with a ribbon-cutting date to be set by authorities.
Iraq is pushing to deepen economic ties with the United States, signing oil and energy deals while aiming to increase oil production and secure IMF backing. Baghdad seeks to disarm Iran-aligned militias and to bolster state control over weapons as U.S. and Iranian pressures intensify. The talks center on shifting from crisis management to a strategic economic partnership.
New York City open primaries face opposition from Mayor Mamdani as activists push for a system that could widen voter participation. The debate centers on whether the closed primaries strengthen incumbents or expose voters to broader choice.
Matt Gutman reveals he nearly fell for an advanced bank scam after a caller posed as fraud protection, detailing how he followed instructions to withdraw cash. The incident underscores the sophistication of modern phone scams and the vulnerability even seasoned journalists feel.
The High Court has ruled that most testing strategies do not amount to prohibited defeat devices, narrowing a long-running lawsuit over NOx-emitting diesel cars. Mercedes-Benz faces one upheld allegation, which was removed from 2015. The ruling binds other manufacturers; a broader trial continues.
A sprawling heat dome has kept tens of millions under extreme heat alerts from the Midwest to the East Coast. Overnight temperatures are staying well above normal, heightening health risks and straining power grids. El Niño is intensifying the heat, and cooling centers, water, and hydration remain critical.
A Bloomberg analysis finds that AI may help offset the impact of an aging population on the labor force, though the net effect on growth is unclear. Earlier studies suggest tech may raise output per worker as the workforce shrinks.
The government has extended work permits for hundreds of thousands of immigrants with Temporary Protected Status from Haiti and six other countries, delaying expirations set to begin this week.
Ukraine’s president has announced a cabinet change and indicates a broader political strategy shift. Svyrydenko is stepping down, with potential replacements including Koretskyi or Shmyhal. The leadership change follows a wave of reforms and external pressure as Kyiv reorients its political approach and diplomacy.
Enterprises are shifting budgeting to value over token costs as AI costs rise. Leaders argue for metrics based on useful work and task-level economics, with pilots testing open-weight and sovereign models.
The memory-chip rally has cooled as investors question lofty valuations. SK Hynix’s U.S. ADR debut has sparked profit-taking, with analysts noting a valuation gap between U.S. and Korean listings. Industry-wide weakness follows South Korea’s new rules aimed at cooling speculation in AI-name stocks.
A widespread outbreak of cyclosporiasis linked to leafy greens is expanding across the United States. Michigan reports thousands of cases as authorities investigate a potential link to Taco Bell and other produce sources. Health officials warn the outbreak is likely to continue through August; precautions include thoroughly washing produce or cooking it.
The CPI has fallen 0.4% in June, bringing the 12‑month inflation rate to 3.5%. Energy costs led the decline, with gasoline down nearly 10% for the month, while food prices rose modestly. Core inflation remains sticky, and analysts warn a renewed oil rally could push prices higher again.
China’s coal sector faces renewed scrutiny after a deadly May blast and new disclosures show a top Shanxi Mine Safety Administration official is suspected of serious violations of discipline and law. The province’s ongoing inspections are shaping the sector’s reform path.
TSMC has pledged an additional $100 billion for Arizona as part of a broader push, taking total U.S. chipmaking investments to $265 billion. The company has raised its annual revenue forecast after record profits driven by AI demand, and plans to accelerate production of advanced 3-nanometer chips across the U.S., Japan and Taiwan.
Governor Kathy Hochul has signed an executive order pausing state permits for new "hyperscale" data centers using 50 megawatts or more for up to one year. The order directs regulators to produce a Generic Environmental Impact Statement covering energy, water, air and community benefits, and it signals potential changes to tax breaks and grid-costing for large AI facilities.
The Covid inquiry has found a “vast” waste of taxpayers’ money in PPE procurement during the pandemic, with almost two-thirds of the £14.9bn spent wasted. It criticises the VIP lane for favoured contracts and highlights inadequate stockpiles and planning.
Lucid Motors has denied bankruptcy or going-private reports. It says liquidity remains strong enough to fund operations into 2027, with AlixPartners reviewing the business to improve execution and focus on the Gravity SUV. The firm has undergone leadership and workforce changes amid ongoing restructuring.
Bloomberg and CNBC report that states have filed lawsuits aiming to block the Warner Bros. Discovery and Paramount merger on antitrust grounds. Courts may grant temporary relief; the timeline is unsettled as regulators review concessions worldwide.
China has reported 4.3% year-on-year GDP growth in the second quarter, below the 4.5%–5.0% official target and economists’ expectations. Retail sales rose 1% in June, while industrial output climbed 5.3%, but fixed-asset investment contracted. Analysts say policymakers are likely to rely on exports and stimulus to bolster demand amid a property slump and subdued domestic spending.
OpenAI is developing a screen-free, home AI companion that can control smart devices and access ChatGPT capabilities. The device is described as a personality-driven helper, designed to learn the owner over time. Bloomberg notes potential clashes with Apple’s trade secrets amid ongoing hardware discussions.
Water levels on Europe’s major rivers have fallen to near-record lows, squeezing river cruise traffic in Hungary and raising transport costs for industries along the Rhine. Officials warn levels may rise next week, but the current crunch underscores broader climate-linked volatility.
Electricity prices in Europe swing daily as solar output peaks around midday and demand rises in the evening, creating a pronounced “duck curve.” Germany shows sharp price increases at night; France faces historically high demand driven by heat. The pattern is shaping market behavior this summer.
OpenAI has launched Codex Micro, a $230 mini keyboard designed for Codex users, with a joystick, dial and status keys. Co-designed with Work Louder, it previews a broader hardware strategy amid Apple’s lawsuit over alleged stolen secrets. Bloomberg has reported on a forthcoming, screenless smart speaker from OpenAI, expected in 2027.
Anthropic is preparing an IPO as soon as October, with meetings between investors and executives underway ahead of a formal roadshow. The private valuation remains colossal, and the firm is building its investor relations team to explain its growth and AI safety aims to the market.
China advocates international cooperation in AI at the World Artificial Intelligence Conference, forming WAICO with 29 nations to shape global governance. Beijing stresses a people-centered, inclusive AI future while expanding domestic AI capacity and energy-led infrastructure to power data centers.
Netflix has reported improved earnings for the June quarter and is forecasting solid near-term revenue growth. The company is targeting ad-supported revenue this year and is shifting engagement reporting to once a year from 2027, as it leans into live events and new content formats to sustain growth.