East Asian republic on the Korean Peninsula
Beijing-based Moonshot AI has released Kimi K3, a 2.8‑trillion‑parameter open‑weight model that has outperformed several leading U.S. systems on blind coding benchmarks and ranked competitively on broader tests. The firm is preparing a Hong Kong IPO notification and wrapping a fresh funding round that could value it above $30 billion.
The Hudson prize highlights a slate of new voices, including Madeline Cash and Han Jiyoung, with conversations about writing during upheaval, open marriages, and the healing power of storytelling.
Pew Research Center finds more countries hold favorable views of China than the US in 25 of 36 countries surveyed, marking the first time China has surpassed the US in long-running global opinion tracking. The period surveyed includes February to May, during tensions around Iran, Trump policies and related global events.
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.
Micron has reported blockbuster fiscal third-quarter results — $41.46bn revenue and $28.24bn net income — and has forecast roughly $50bn for the current quarter. The results have pushed Micron above a $1tn market value, restarted buying in memory stocks and have sharpened concerns that soaring AI data‑centre demand is forcing consumer electronics makers, including Apple, to prepare price increases.
Markets are stabilising after a stretch of high activity in tech options, with traders shifting focus as implied volatility cools. Small caps are leading potential next moves, while global equities reflect a policy-led, carry-friendly regime.
Taiwan faces intensified pressure as China expands coast guard patrols and maritime activities near its east coast. Western capitals warn that regional stability is at risk, while Taiwan conducts drills to test rapid deployment amid ongoing defence modernization and new drone capabilities being debated in Taipei.
South Korea has accelerated its semiconductor push, pledging hundreds of trillions of won in memory fabs and AI data centers. President Lee Jae-myung frames the plan as national survival, aiming to double memory capacity within five years. Samsung and SK Hynix pledge multi‑trillion investments, with broader plans to build new fabs and hubs in the southwest.
North Korea has demonstrated combat systems on the Kang Kon destroyer, including a strategic cruise missile, main gun and electronic-warfare tests. Kim Jong Un has ordered completion of trials and active deployment within two months, as Pyongyang presses to expand a nuclear-armed navy after the Choe Hyon’s debut.
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 Malacca and Hormuz are central to global energy and trade routes. Recent reporting shows Malacca’s traffic exceeds Hormuz and underscores China’s reliance on open sea lanes while Iran asserts control over straits, raising tensions and questions about future transit costs and routes.
England faces Mexico in the World Cup last-16 at the Azteca Stadium. Security has been stepped up amid noise outside England’s hotel and concerns about crowds, with authorities preparing for potential disruptions. Kick-off remains at 6pm local time, with officials emphasizing safety and orderly conduct.
Co-host Mexico has advanced to the Round of 16 at World Cup 2026 after a 2-0 win over Ecuador, triggering huge public celebrations in Mexico City. At least two deaths have been confirmed due to crowd crush and asphyxiation near Paseo de la Reforma, prompting security tightenings and traffic controls. Authorities urge responsible celebrations as fans watch from designated areas.
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.
The United States has declined to renew the US-Mexico-Canada Agreement in its current form and has begun annual reviews instead. Washington has said it will continue talks with Mexico and Canada to address trade deficits and "shortcomings." The pact remains in force and will expire in 2036 unless countries agree changes.
Indirect talks mediated by Qatar and Pakistan are pressing to implement the Islamabad Memorandum and to restart shipping through the Strait of Hormuz. Officials say progress is being made, with a monitoring channel set to report violations, and discussions on how part of Iran’s frozen assets could be used to purchase needed goods.
Fans across the US report cancelled or nonexistent World Cup tickets bought on StubHub. Lawsuits have been filed alleging false sales practices; authorities are probing ticket deliveries, while FIFA and StubHub point to the event organizer’s infrastructure.
South Korea’s government has faced international scrutiny over its handling of Coupang’s data breach and regulatory actions. A House Judiciary Committee report accuses Seoul of using coercive tactics against a U.S.-based company, while Seoul defends its domestic-law actions and emphasizes consumer protection. The dispute is shaping U.S.-Korea economic ties amid lobbying activity.
UBS reports 2025 global wealth rose 10.8%, fueled by stock markets and tech gains. The number of millionaires surged worldwide, led by the United States; median wealth fell in many markets, widening the rich-poor gap. Australia saw a rise in millionaires, though median wealth declined. The report highlights how assets and housing influence millionaire status and global inequality.
Health authorities have reported at least 1,759 confirmed Ebola cases and about 600 deaths in the Democratic Republic of Congo since mid-May, driven by the rare Bundibugyo strain. The World Health Organization has enrolled the first patient in a trial testing MBP134 and remdesivir; treatment centres are strained and insecurity and funding shortfalls are hindering response.
The impeachment trial of Philippine Vice President Sara Duterte has begun in Manila. Police have deployed around the Senate as pro- and anti-Duterte demonstrators gather. Duterte denies wrongdoing and has appeared via counsel, with the outcome potentially barring her from future office and shaping the 2028 race.
Canada has selected ThyssenKrupp Marine Systems to build up to 12 conventionally powered submarines, with the contract potentially worth tens of billions of dollars. Prime Minister Carney has pledged higher defence spending and NATO interoperability as Ottawa seeks greater strategic autonomy ahead of the Ankara summit.
Luxshare Precision Industry plans to raise up to HK$24.3 billion in a Hong Kong share sale, pricing shares at HK$63.28, as it expands beyond Apple and strengthens its position in automotive electronics and data centers. The IPO follows a wave of Hong Kong listings this week and reflects a push to diversify revenue sources.
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.
The Seoul Central District Court has found former president Yoon Suk Yeol violated political funding laws by receiving free polling services and exerting undue influence over party nominations. He remains in detention and is appealing multiple convictions linked to martial law in 2024 and an insurrection case. The ruling is part of a broader wave of trials surrounding Yoon.
Senate Republicans have to adjust to the loss of Sen. Graham, altering committee leadership and urgency to fund diplomatic efforts, while a potential temporary successor awaits appointment under South Carolina law.
Leverage ETFs tracking Samsung and SK Hynix have tumbled since late May listings, while a new wave of anti-Elon funds seeks to exclude Musk-associated companies, including Tesla and SpaceX, from Nasdaq-100 and S&P 500 exposures.
Australia and India have signed an administrative agreement to export uranium for peaceful purposes, enabling longer-term supplies to help India expand its nuclear capacity. Details on volumes and timing remain undisclosed. The move is part of broader efforts to diversify trade and strengthen Indo-Pacific security ties during Narendra Modi’s visit to Australia.
A federal class-action suit in Washington state accuses Costco of selling Orgain Organic Protein Powder with undisclosed levels of lead, cadmium and arsenic. Plaintiffs say testing by third parties and Consumer Reports shows contamination, while Orgain asserts products are safe and compliant. The case builds on similar claims and ongoing scrutiny of protein powders.
A Chinese delegation led by Wang Yang is visiting Pyongyang to advance agreed cooperation with North Korea, including military and economic ties. The talks follow Xi Jinping’s June visit and aim to implement a blueprint for closer strategic relations. North Korea seeks Beijing’s backing while China hopes to maintain regional stability and influence.
Australian and Indian leaders have confirmed the Melbourne Renegades versus Perth Scorchers game in Chennai on December 12, marking the first Big Bash League match to be played outside Australia. The event is part of a broader Australia-India festival, with broadcast plans in place and discussions of expanding the league’s footprint.
North Korea has approved measures to bolster its nuclear forces and expand the General Reconnaissance and Intelligence Bureau, state media say. The moves come as Pyongyang portrays Seoul as a hostile state and views itself as an irreversible nuclear power. Analysts say the development could widen intelligence-gathering efforts and deepen tensions on the Korean peninsula.
Haeran Ryu has won the Evian Championship, completing a double major within three weeks after winning the Women’s PGA Championship. She finished 18-under through four rounds, with a memorable 60 in the third round and birdie on the final hole to seal the record. Brooke Henderson finished second, while Lottie Woad and Aki Iwai were among the challengers.
The IMF has revised its 2026 growth outlook to 3.0%, citing energy shocks from the Middle East but noting an AI investment boom that is offsetting some pain. The US is forecast to grow around 2.3%, Europe remains subdued, and oil markets show volatility as tensions persist in Hormuz. Inflation is expected to ease only slowly.
South Africa midfielder Jayden Adams has been found dead at a home in Cape Town's Schotsche Kloof neighbourhood. Police have opened an inquest and are investigating; authorities have not released a cause of death. Adams had played in South Africa's three World Cup group matches and had helped the nation reach the knockout stage for the first time.
A fire has ripped through the Rong Beer Na Ladprao pub in Bangkok’s Chatuchak district shortly before midnight on Sunday, killing 30 people and injuring dozens. Authorities have opened a negligence probe, are examining ceiling materials and blocked exits, and the Bangkok governor has ordered stepped-up safety inspections across venues.
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.
Banks have posted strong second-quarter earnings driven by robust investment banking fees and equity trading, led by Goldman Sachs, JPMorgan, Citi, Wells Fargo and Bank of America. The AI-backed activity has broadened beyond tech to infrastructure and lending, with SpaceX’s IPO and rising deal volumes underpinning a bullish backdrop for the sector.
Recent product reviews from Independent and New York Post detail skincare arrivals and retinoid-based routines. The articles highlight formulas, delivery formats, and user experiences, while underscoring the ongoing consumer demand for lightweight protection and targeted anti-aging solutions.
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.
SpaceX's stock has retraced after its historic IPO, sliding below the $135 IPO price and signaling cooling investor enthusiasm. The run-up saw a peak valuation above $2 trillion, but subsequent weeks have brought wild swings as analysts reassess fundamentals amid AI-spending concerns and macro uncertainty.
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 Bank of Japan is likely to raise its growth forecast for the year ending next March to reflect resilient demand, including from AI-driven global demand. The review also contemplates revising the downside risk assessment as confidence grows in avoiding a downturn.