British weekly on economics, politics and culture
Millions of Ethiopians are voting in the 7th General Election as NEBE oversees more than 52,000 polling stations. The vote is viewed as a defining moment for the country’s democratic institutions, with digital registration and expanded media space marking a modernization of the process.
At the Group of 7 summit, Donald Trump has denied U.S. investment in a proposed $300 billion Iran reconstruction fund and has criticized past deals with Tehran. Officials say the agreement would reopen Hormuz, lift oil export restrictions temporarily, and push nuclear talks into a 60-day phase. Other leaders warn of broader financial relief being extended to Iran.
European heat waves persist with record-setting temperatures across multiple countries. Authorities warn of health risks, power strains, and disruptions to travel and schooling. Forecasters expect a gradual cooldown starting Friday, as the continent faces a second consecutive heat dome driven by high pressure.
Pride events across the US and Europe proceed as leaders push back on transgender rights and DEI policies. In New York and San Francisco, parades highlight activism over corporate spectacle, with hospitals facing pressure over gender-affirming care and organizers weighing participation amid federal subpoenas.
Trump has announced a midterm national convention in Dallas for September 9–10, a break from tradition. The event aims to energize GOP voters ahead of the 2026 midterms, with attention on Texas races such as Paxton vs. Talarico as Democrats seek to counter Trump’s influence. Democrats considered but did not pursue a similar convention.
Tesla has reported weak Q2 profits and heavy capital spending on AI, robotaxis and humanoid robots, turning free cash flow negative and sending its shares sharply lower. SpaceX has fallen since its IPO and heavy short interest is piling up. Investors are demanding clearer timelines for robotaxi, Optimus and Tesla–SpaceX collaboration as capital needs rise.
A wave of AI coverage shows leaders warn momentum is unstoppable while calling for cross‑industry safety checks. Musk predicts rapid gains and a future of abundance; others push for collaboration and stronger safeguards as deployment accelerates.