Intergovernmental forum of seven leading economies
The UN General Assembly has adopted a non-binding resolution encouraging governments, schools and tech firms to use the Equal Earth projection rather than the Mercator map. The vote passed 164–1 with six abstentions; the United States voted against. Several countries have since raised concerns about how the new projection depicts disputed territories.
Commercial traffic has resumed through the Strait of Hormuz since a US–Iran memorandum, but volumes have stayed far below prewar levels. Ship trackers report partial recoveries, 'dark' sailings with transponders off, continued use of routes close to Iran and Oman, and large backlogs as insurers and shippers wait for demining and clear rules.
Gasoline costs have fallen below the $4 threshold as the Strait of Hormuz reopens under a U.S.–Iran accord. Prices remain volatile and relief is slow to reach all regions; flows are still normalizing and broader inflation remains a concern.
Taiwan and the United States continue to push for stronger defense cooperation as Washington’s arms-sale process remains under review. Taiwan is increasing defense spending and seeking timely deliveries while urging readiness for potential cross-strait tensions. Beijing maintains pressure but the United States signals ongoing support within its legal framework.
North Korea has pledged to expand its nuclear and conventional capabilities, with Kim Jong Un stating a stronger offensive posture and ongoing tests of new weapons. Seoul signals a major drone buildup and allied drills amid regional security concerns.
The public debate over Donald Trump’s health has intensified as new reporting details reveal how health concerns are shaping the administration’s handling of power and secrecy. Reporters describe a presidency marked by cautious messaging on health while decision-making appears more opaque than ever.
Anthropic's Mythos model has identified vulnerabilities in highly secure U.S. government systems during tests run with U.S. intelligence agencies under Project Glasswing. Officials say findings show rapid detection, not immediate exploitation; collaboration aims to shore up cybersecurity as tensions with the administration grow.
A Reuters/Ipsos poll shows Americans are skeptical about lasting peace with Iran even as a deal opens shipping lanes. Trump’s popularity on Iran-related issues has slipped, and gas prices remain elevated. The Reuters/Ipsos poll covers 1,262 U.S. adults and highlights bipartisan concerns ahead of midterms.
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.
Ten years after Brexit, Europe has moved on while the UK contends with its legacy. EU states see Britain as an ex-partner navigating a changed landscape; the UK faces ongoing questions about economic model, immigration rules, and future ties. Readers are guided through how this shift shapes politics and daily life.
The Guardian, The Japan Times, AP News, and others report Beijing’s export controls on dual-use items target Japanese firms as Tokyo expands its defense posture. Detentions of Japanese nationals in China over alleged rare-earths-related export violations are intensifying the diplomatic row. The moves come after Japanese comments on Taiwan and potential military action raised Beijing’s alarm.
The Guardian reports that Ireland has begun its rotating EU presidency with a ceremony at Dublin Castle attended by Ukraine’s Volodymyr Zelenskiy and top EU figures. Leaders discuss Ukraine’s EU bid on a merit-based timeline and budget priorities, with emphasis on ending the war and shaping the next EU budget.
The Kremlin has made a show of defiance while Ukrainian strikes disrupt Russian fuel networks. Putin has admitted the strikes are painful, but demands a peace framework anchored in the Istanbul accords and expanded territorial goals. Moscow is doubling down even as fuel shortages bite. Follow developments as Western allies recalibrate support.
The US Department of Commerce has lifted export controls on Anthropic's Claude Fable 5 and Mythos 5, and Anthropic has begun restoring access. Mythos 5 has been cleared for a vetted group of US organisations; Fable 5 — redesigned with stronger safeguards — is being redeployed more broadly after testing and coordination with government officials.
The Defence Investment Plan has been refreshed to prioritise frontline equipment, drones and autonomous tech. Dan Jarvis has secured additional funding, while resignations over funding highlighted political tensions. The plan aims to modernise the UK’s armed forces and deter evolving threats, with a focus on the High North and underwater infrastructure.
Putin has acknowledged that Ukrainian strikes have caused fuel shortages and queues at petrol stations, while insisting the shortage is not yet critical. He vows to boost air defences and ensure fuel supplies as Ukraine expands long‑range attacks on Russia’s energy infrastructure. The remarks follow a spike in refinery and fuel facility strikes and growing public discontent.
The EU and the UK have moved to finalise agricultural, trade and youth-m mobility terms. Talks face a deadline as Brussels seeks fee concessions for EU students and London pressures for broader economic concessions. A new prime minister is expected to be named, with governance and Brexit red lines in play.
Anthropic is launching an internal drug-discovery program to develop AI tools for life sciences, focusing on neglected diseases. The effort aims to create drug-discovery capabilities in-house and partner with industry, while navigating the costly regulatory path and uncertain clinical development timelines.
The EU has introduced a 3-euro duty on small packages and tightened steel import rules to curb a flood of low-value online orders and protect European producers. The move follows years of rising Chinese exports and a broader push to safeguard EU industry and consumers. The changes include tariff-free quotas, out-of-quota duties, and transparency requirements for origin tracing.
Tensions escalate between Washington and Riyadh after Saudi Arabia blocks U.S. use of its bases and airspace for Project Freedom, prompting a rethink of the U.S. Gulf military footprint even as officials insist the partnership remains strong.
President Donald Trump has publicly taunted Italian Prime Minister Giorgia Meloni over a G7 photo, posting a meme that said "Restraining order needed" and repeating that she "begged" for a picture. European leaders have rallied to Meloni, and Washington is reviewing U.S. force posture in Europe after allies refused base access for strikes on Iran.
OpenAI has proposed that the U.S. government take roughly a 5% stake in the company and has discussed a plan for other leading AI firms to give similar stakes to a government-backed vehicle. The talks have taken place with Trump administration officials and would likely require congressional approval. (Updated Wed, 08 Jul 2026 07:15:26 +0100)
EU trade chiefs push to rebalance trade with China as talks with Beijing seek tangible results by autumn. Europe faces a €360 billion deficit as climate, industry and tech sectors depend on China, even as leaders vow to defend strategic industries.
Burnham is poised to become prime minister, with a plan to shake up the political and economic landscape. He faces questions on housing, cost of living, and long-term strategy, while the economy awaits a new chancellor choice and clear fiscal plan.
President Donald Trump has overridden the NATO agenda at a summit in Ankara by pressing allies to boost defence spending, threatening trade with Spain, and floating withdrawal of US troops from Europe. He has also signalled he will lift sanctions on Turkey and is considering selling F‑35 jets and engines to Ankara, prompting Israeli and European alarm.
The Royal College of Paediatrics and Child Health warns that child health outcomes across 12 indicators have worsened or stalled in England. The report highlights persistent inequality, with deprivation and ethnicity shaping outcomes. Officials urge explicit targets, better data and long-term investment to improve child health and reduce disparities.
The Strait of Hormuz remains a flashpoint as US and Iranian forces resume strikes after a fragile ceasefire. Tehran is asserting control over shipping routes, while Washington threatens broader action to safeguard navigation and energy supplies.
The UK has sanctioned individuals and entities linked to networks financing Sudan's war economy, targeting RSF and SAF-linked actors and key mining operations. The move aims to curb illicit gold flows that fund fighting, with officials warning of mass harm to civilians as El Obeid faces fresh peril.
Ukraine has seen ongoing international backing amid Russia's invasion, with leaders pledging new aid and steps to bolster Kyiv's defenses. Drones and missile strikes continue, hitting targets across Ukraine and Russia, while regional summits and high-level visits underscore a coordinated response to the conflict.
The OECD has forecast the UK’s GDP will slow to 0.9% in 2026, down from 1.4% last year, citing energy costs and geopolitics. It stresses the need for reforms to boost productivity and address regional disparities, as energy prices remain a risk to growth.
The government has taken British Steel into public ownership to protect steel production in the UK, secure thousands of jobs, and safeguard national infrastructure. Parliament has enacted new powers allowing state intervention, with ministers aiming to stabilise the plant, back communities, and modernise the sector toward green steelmaking.
The Real Rates Reform Alliance has launched a plan to replace the current business rates system with a two-tier approach that taxes online sales at 2% and lowers rates for bricks-and-mortar firms. The proposal would raise overall revenue while delivering relief to traditional retailers and high streets, as UK leaders debate a broader reform of business taxation.
Independent sources report Octopus Energy is pressing the incoming UK prime minister to reform the electricity market. The company says reform could save households up to £114 a year and cut billions in costs by 2050, with further savings if levies are moved to general taxation. Reform also faces a two-year timeline and potential gains for wind, batteries and interconnectors.
The White House has hosted industry leaders to discuss a voluntary framework reviewing cybersecurity across the AI sector. OpenAI, Google and Anthropic are involved as the administration finalizes how frontier models will be evaluated under a forthcoming framework.
NIESR warns inflation will stay higher for longer, squeezing public finances. New PM Burnham faces costly promises; borrowing is at capacity and funding will require tax reform or spending cuts. Inflation peaks at 3.8% in Feb 2027 before easing.
The US has imposed new 10%–12.5% tariffs on imports from 60 trading partners, saying they have not effectively enforced bans on goods produced with forced labour. The levies replace expiring temporary duties and include product exemptions, while trading partners from Brazil to Australia have criticised the move and markets have reacted with caution.
European wildfires have expanded across France, Spain and other parts of southern Europe as heatwaves intensify. Authorities report mass evacuations, tens of thousands of hectares burned, and mounting casualties among firefighters. The crisis is testing climate resilience and driving calls for stronger forest management and funding.
The latest U.S. inflation readings show persistence above the Fed’s 2% target while growth softens in Q2. Consumer spending remains resilient, but higher borrowing costs and energy prices complicate the outlook as policymakers weigh future moves.
The Bank of England has kept Bank Rate at 3.75% in a split MPC vote as rising energy prices linked to Middle East tensions threaten inflation. Six members vote to hold, three call for a hike to 4%. Inflation is expected to rise later this year before easing toward the target.
Mayors will keep a share of income tax and business rates from 2027-28, replacing central grants and empowering local areas to fund transport, housing and jobs. The reform is pitched as the biggest transfer of power in a generation, with details to be announced in the autumn budget as Burnham leads devolution push.
A coordinated U.S.-Japan intervention in late July has only temporarily strengthened the yen. The currency has given back roughly half the gains from the operation and is trading near ¥159–¥160 to the dollar as of mid-August. Analysts say the yield gap between U.S. and Japanese debt and Japan's domestic policy mix are keeping downward pressure on the yen.
Zelenskyy has warned that air-defence shortages could worsen as Russia launches a wave of ballistic missiles and drones. Ukraine is relying on allies for Patriot interceptors, with talks about domestic production and European partnerships intensifying. At least 17 people have been killed across Kyiv and surrounding areas, while drones have been largely shot down.
The Sudanese conflict persists as fighting between the army and RSF continues to upheave daily life. Civilians confront displacement, blocked routes, and humanitarian struggles, while international voices call for action.
Nvidia has enlisted six Wall Street firms to finance a $500 billion buildout of AI infrastructure, treating compute as a new asset class. The plan centers on financing data centers and GPU clusters for customers unable to pay upfront, with OpenAI-related projects and neoclouds in focus. Executives cite long-term value and revenue generation, while cautions focus on depreciation risk and China’s potential price competition.
Inflation has remained stubbornly high as energy prices stay elevated following the Iran conflict. Across the U.S. and UK alike, prices have moved little since last month, with energy and food costs continuing to weigh on households. Analysts say ongoing volatility will keep consumer costs under pressure in the near term.
The 60-day window for a comprehensive Iran-US peace deal has expired. Talks over reopening the Strait of Hormuz remain unsettled as both sides accuse the other of violations. Trump has publicly claimed a backchannel with Iran’s IRGC, while Iran and Oman pursue a route to restore shipping lanes.
The Pacific Fleet has fired Bastion coastal missiles from Etorofu, simulating an attack on enemy ships at about 300km. A submarine and a guided-missile cruiser took part, with exercises running from 4 August to 29 August and prompting protests from Japan over regional territorial disputes.
The UK has formalised support for Ukraine by sharing blueprints for long-range Scalp missiles, a French variant of the Storm Shadow. Kyiv is set to produce components domestically. Russia has warned of retaliation, while UK leaders press ahead with allied security cooperation and sanctions enforcement.
The UK has granted Ukraine access to declassified blueprints for British-made components used in the Scalp missile, the European-produced version of the Storm Shadow. Russia has warned of consequences and highlighted potential threats to UK bases in Europe as Kyiv deepens its defense production.
US forces have carried out strikes on Iranian rocket launchers on Larak Island after they detected efforts to deploy rockets with naval mines into the Strait of Hormuz. Iran has launched missile and drone attacks at US bases in Jordan and the UAE in response. Both sides are signalling readiness to hit back again while diplomatic and economic pressure continues.