American investment bank and financial services company
Warsh has moved to reduce forward guidance and may cut meetings, aiming to give the Fed more flexibility as markets react to his new approach while inflation remains above target.
Au Kam San, a former Macao lawmaker, remains in custody under a national security law as authorities withhold full details. Reports describe a closed trial process, restrictions on legal counsel and family contact, and concerns about due process. The case mirrors Beijing’s broader security emphasis in the Chinese-ruled SAR.
Hampden Bank and peers report solid first-half results, driven by deposits growth, wealth management, and trading activity. Banks also announce share buybacks and higher dividends as costs and provisions temper gains. The sector remains buoyant amid higher interest rates and robust markets.
The government has released June employment data showing payrolls rising by 57,000, far below forecasts, while the unemployment rate edges down to 4.2%. The labor force participation rate has fallen, highlighting a shift in the job market as fewer people are seeking work. Revisions to May and April data point to a softer hiring pace than previously thought.
A wave of commentary and policy proposals surrounding UK Prime Minister-in-waiting Andy Burnham is pushing for a radical economic and housing strategy. The debate centers on restoring aid targets, reforming tax, and expanding social housing, while markets monitor mortgage pricing and fiscal discipline.
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.
El Niño has strengthened and is forecast to reach the strongest category by fall, bringing droughts, heavy rains, heat waves, and shifts in hurricane activity. Forecasts indicate the event will influence global weather patterns this fall and winter, with warnings of significant regional impacts.
The US has carried out repeated air and naval strikes across Iran to degrade Tehran's ability to threaten shipping in the Strait of Hormuz. Iran has responded with missile and drone attacks on US bases and Gulf allies, and the IRGC has warned civilians near US forces to stay away; the exchanges have closed much of the strait and pushed oil prices higher.
El Niño has strengthened, with forecasters warning it will be among the strongest on record. Regions across Africa, South Asia, and the Americas face droughts, floods, and rising food prices as climate impacts intensify. Aid groups warn that vulnerable communities and smallholder farmers will bear the brunt as aid budgets tighten.
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.
Publishers led by The New York Times have filed a sanctions motion accusing OpenAI of hiding searchable training datasets and millions of de‑identified ChatGPT logs that could show whether the company reproduced copyrighted journalism in its outputs. Depositions have revealed OpenAI held large log samples and internal regurgitation-detection tools; plaintiffs say the sample provided to courts was unusable.
SBI Funds Management has drawn bid interest worth 2.97 trillion rupees for its IPO, oversubscribing by 41.6 times. The firm, a SBI-Amundi joint venture, has raised up to 116.9 billion rupees and aims to be India’s leading fund manager. The market response underscores continued liquidity for large public offerings despite a softer year for listings.
ASEAN foreign ministers are in Manila for high-level talks armed with a focus on Myanmar. The meeting also touches on regional energy, border tensions, and economic concerns as international players participate. The discussions follow a prior in-person engagement in Bangkok and come amid Myanmar’s ongoing conflict and Indonesia’s currency volatility.
Memory-chip stocks have surged on AI demand but face a sharp pullback as investors reassess valuations and the U.S. listing gap for SK Hynix widens, with analysts expecting volatility to persist into the next quarter.
Alphabet and peers are expanding AI data-center investments, driving up memory-chip prices and electricity costs while free cash flow turns negative for the quarter. Revenue remains strong as AI demand grows, but capital expenditure is set to rise into 2027.
European regulators are preparing a package to deregulate and potentially cut capital backstops for banks, aiming to create pan-European lenders capable of competing with U.S. giants. The plan includes cutting Pillar 2 leverage add-ons, reducing capital buffers, easing reporting, and outlining a common deposit-insurance framework. The move follows similar U.S. and U.K. deregulation signals and is seen as a test of Europe’s capacity to finance large-scale strategic investments.
The Strait of Hormuz remains a focal point as the U.S. indicates it will reinstate a blockade around Iran’s shipping, proposing a 20% toll on all cargo. Markets react as oil prices jump and analysts assess supply-chain implications amid a strained ceasefire.
IBM has reported a revenue of $17.2 billion for Q2, up 1% and below estimates, with infrastructure revenue down 7%. CEO Arvind Krishna says the shortfall reflects clients reprioritizing capex toward servers, storage, and memory ahead of price increases, while the company continues to invest in quantum and AI initiatives.
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.
Israel and its allies are under renewed pressure as mediation efforts on southern Lebanon and southern Syria are tested by ongoing clashes, shifting security zones, and new calls for withdrawal. The broader Middle East crisis is escalating with US-led diplomacy pushing for a staged redeployment while maintaining security arrangements.
Kathryn Ruemmler has testified before the House Oversight Committee, acknowledging a long relationship with Jeffrey Epstein and saying he used her to legitimize his standing. She has stepped down from Goldman Sachs but remains as senior adviser. Lawmakers are pursuing further depositions and documents as part of a broad probe into Epstein’s network.
Andy Burnham has been installed as prime minister and has promised immediate measures to give households "breathing room" on the cost of living. He has begun selecting a cabinet, signalled support for new North Sea drilling, and faces immediate fiscal and defence funding gaps that his first autumn Budget must fill.
The United States has has backed plans to rehabilitate the Iraq–Syria crude oil pipeline as a priority infrastructure project linking Iraqi production with Mediterranean export markets. Deals with US firms aim to create alternative routes to the Strait of Hormuz, with initial capacity of about 2 million barrels per day once completed.
Beijing-based Moonshot AI has released Kimi K3, a 2.8‑trillion‑parameter open‑weight model that has outperformed leading U.S. systems on blind coding benchmarks, is priced substantially below comparable U.S. offerings, and is scheduled to publish its model weights on July 27 so developers can download, modify and self‑host the model.
US-backed deals have Iraq seeking long-term investment, with Chevron-backed pipelines and parallel routes to reduce Hormuz dependence. Analysts say regional pipelines could carry a large share of oil by 2028; the question remains when they’ll be viable.
Iraq has signed 48 agreements with American firms, spanning energy, healthcare and technology, as Prime Minister Ali al-Zaidi travels to the United States. The deals include oil and electricity cooperation with ExxonMobil, KBR, GE Vernova, Shell and Halliburton, plus a pipeline project with Syria to bypass the Strait of Hormuz. Starlink will bring satellite services.
Oil benchmarks have fallen sharply after US President Donald Trump has said he called off planned strikes on Iran and reported that talks to reopen the Strait of Hormuz will begin. Brent has dropped from above $100 to about $83 and US crude has fallen below $80, while markets and bond yields are reacting to lower geopolitical risk premiums.
Moonshot AI has released Kimi K3, a 2.8-trillion-parameter open-weight model that rivals top US systems in some tasks. Demand has overwhelmed capacity, leading to pauses on new subscriptions as the firm adds capacity for existing users and splits memberships to tailor compute usage.
Renewed US–Iran strikes and a US naval blockade have pushed oil above $90 a barrel and cut tanker traffic through the Strait of Hormuz. Shipping, insurance and refining costs have surged faster than crude, lifting diesel and jet-fuel premiums and pushing US pump prices toward $4 a gallon; analysts warn sustained disruption will force further price rises.
Ocado has sealed a deal to build a large customer fulfilment centre for a fast-growing European national retailer. The automated site, due to go live in 2028, features Ocado’s robotics and new technology. The agreement follows a recent downturn in Ocado’s stock amid broader market weakness and signals rising demand for its automation solutions.
Kalshi has launched the Midterms Hub, a live-prediction hub that aggregates odds, polling data, fundraising figures, and analysis for U.S. elections. The platform emphasizes real-time market insights alongside traditional polls, with most visitors not placing trades.
Prime Minister Burnham has set out a cost‑of‑living agenda, unveiling measures to ease households’ bills and launch a Northern Downing Street outpost. The plan includes VAT relief on energy, a bus fare cap, and funding to end rough sleeping, with details on funding and timelines updated as the government navigates fiscal constraints.
Brent crude has fallen about 8–9% to below $88–$92 a barrel after prices briefly topped $100 last week. The drop follows pauses in US–Iran strikes and reports that both sides have halted attacks to allow diplomacy. Markets remain volatile because shipping through the Strait of Hormuz and the Red Sea is still disrupted and analysts warn supply risks and inflationary pressure persist.
The Gulf states are accelerating pipeline projects to bypass Hormuz as Iran blocks the Strait, while existing routes face strain. Several major lines are nearing completion, with Fujairah and Yanbu expanding capacity; Iraq and Turkey explore alternative export routes. Analysts warn the shift could alter global oil flows and prices.
Barclays’ former chief Jes Staley has testified before the House Oversight Committee as questions mount over his long-standing ties to Jeffrey Epstein. Regulators had previously banned him for mischaracterizing those ties, and new disclosures are raising questions about how Barclays and JPMorgan Chase handled information on Epstein’s relationship with Staley.
China pushes back on claims of “China Shock 2.0,” arguing the issue is untenable and viewing recent trends as an opportunity, while preparing to meet U.S. tariffs and EU protections.
Trump Media & Technology Group has launched Truth API, a paid, licensed data feed offering real-time Truth Social posts to traders. The service targets high-frequency firms and could reach up to $100,000 a month, prompting questions about market integrity as lawmakers and regulators weigh potential insider trading risks. The RESPONDING outlets note Trump’s stake and platform influence while officials call for SEC review.
Grab reports strong Q2 results and lifts full-year outlook as AI-driven efficiency boosts margins; Grab is accelerating in Southeast Asia while pursuing Taiwan expansion. Rolls-Royce posts higher semi-annual profit guidance on defense demand and data-centre power growth, with AI-influenced efficiency lifting margins.
Savers now have more choice as multiple banks and platforms offer fixed and easy-access accounts above 4% in August 2026, with several products including six-month bonuses. Readers should compare bonuses, terms and ladder strategies to protect value against inflation.
Big Tech’s AI investments are swelling capital expenditure and pressuring free cash flow. Alphabet, Meta and others are spending heavily on data centers and memory chips, while investors weigh the implications for profitability and future growth.
Senior FIFA adviser Carlos Cordeiro has resigned, arguing that FIFA’s plan to sell up to 20% of a new entity that would run World Cups and other events is a bad deal for football. The resignation comes amid backlash from UEFA, Concacaf and the AFC, who say the process lacks transparency and could reshape football’s future.
Japan and the United States have carried out a coordinated yen‑buying intervention after the currency fell to four‑decade lows near ¥163. Officials have said the joint action has pushed the yen toward ¥156–157, warned they will not hesitate to act again, and signalled support for faster Bank of Japan rate rises as markets watch Treasury yields and the yen‑funded carry trade.
OpenAI’s CEO has said the best opportunities come from going against the crowd, learned from mentors at Y Combinator and Silicon Valley. He recalls the push to secure compute after GPT-4 and the lesson that genuine breakthroughs emerge when founders pursue unpopular bets.
Six of Europe’s largest oil majors report combined Q2 profits around $22.7 billion; Aramco posts about $33.4 billion in net income. The war-driven supply disruption has kept oil prices high, with downstream costs rising for consumers. A potential easing of tensions could unlock shipped oil, but uncertainty remains.
SpaceX has reported quarterly results with strong revenue but ongoing losses, highlighting a heavy $18bn capex focus on AI infrastructure. Investors are watching for returns as Starlink remains the profit engine while the AI division remains loss-making and the public market faces a volatile response as lock-up expirations loom.
JPMorgan Chase Chief Executive Jamie Dimon has warned that market leverage remains elevated, with hidden borrowing amplifying potential disruptions as analysts scrutinise leveraged ETFs and AI-driven bets. The remarks come amid recent stress at Situational Awareness and regulatory moves in Korea.
A flurry of reports shows Leopold Aschenbrenner’s Situational Awareness faced a rapid margin-driven unwind after leveraging AI bets, with Citadel stepping in to buy much of the public book. The fund’s assets have fallen from peak to about $10 billion as investors reassess risk and the AI thesis.
Trump Media & Technology Group has launched Truth API, a real-time data feed giving institutional traders near-instant access to posts from Truth Social’s top accounts, including the president’s. The service is aimed at high-frequency traders, with pricing reported around the six-figure monthly range, potentially reaching up to seven figures depending on coverage. Regulators are weighing potential conflicts of interest and market manipulation concerns as traders gain a momentary edge.