Hormuz fighting resumes as Warsh's Fed and Beijing's factories both run hot.
The US and Iran are fighting again, three days after the Hormuz deadline lapsed. The 14-point Islamabad memorandum, signed in June, declared the strait open and the war over; Trump called it "over" last week after accusing Tehran of violating terms it negotiated, and the US launched a third consecut…
Fed governor Christopher Waller warned rates may need to rise, not fall, if inflation stays hot. Speaking Monday as new chair Kevin Warsh prepared his first congressional testimony, Waller said policy sits at a "crossroads" and that another bad core-inflation print due this week would be treated "as…
China's exports hit a record $412bn in June, up 27% on the year. Chip and auto orders tied to the global AI boom drove the surge — monthly car exports topped 1 million for the first time, and factories shipped 32 billion integrated circuits — even as domestic retail sales stayed flat and fixed-asset…
Oil jumped to $87 a barrel as the battle for Hormuz resumed in earnest. Stocks and bonds took the hit directly, with traders pricing a fresh inflation shock just as Waller was warning the Fed not to be "lackadaisical." China, notably, cut its own crude imports this week specifically to dampen the pr…
Israeli strikes killed a 10-year-old boy and a 36-year-old man in Gaza on Monday. The deaths came amid what press accounts now routinely describe as ceasefire "violations" rather than isolated incidents — three Palestinians killed and 15 wounded across the strip in a single day this week, part of a …
Ukraine's drone forces destroyed 1,559 Russian targets in a single 24-hour span. The tally, released by Kyiv's Unmanned Systems Forces, included 15 vessels and 311 troops, part of an intensified campaign to sever Crimea's logistics and choke fuel flows to the front. Along the main line, 244 clashes …
House Republicans and the White House are quietly building a rule around Chinese AI, not American. A Washington Post AI brief reports the Trump administration and industry are discussing a capability framework for US open-source models pegged explicitly to what Chinese "Mythos-class" open models can…
Anwar Ibrahim is resisting calls for a snap election after his coalition's Johor defeat. "Give us time, we have the mandate," the Malaysian prime minister told lawmakers Tuesday, adding that voters "do not want us to engage in politics all the time, they want the economy to grow." The remark lands a…
Trump's administration is moving to "disable" the International Criminal Court after judges filed a complaint. The State Department is running what it calls a "whole-of-government" campaign against the tribunal, threatening allies who support its investigations — a widening of a pressure campaign ag…
ASML's China revenue collapsed from 36% to 19% of sales in a single quarter. The lithography maker's exposure to Chinese buyers nearly halved even as it raised its full-year revenue guidance to €36–40bn, evidence that US export controls are reshaping the chip supply chain faster than the company can…
China's exports are propping up an economy its own consumers won't. Retail sales are flat and fixed investment turned negative last month even as the trade surplus widens toward a second straight trillion-dollar year — a split economist Xu Tianchen frames as AI-chip exports and easier Middle East oi…
Congress is holding hearings on AI workforce policy just as its own capital-markets story outruns the jobs debate. Lawmakers convened an "AI-Ready America" session this week even as venture data show the money increasingly concentrated: Seattle-area startup funding fell 40% even as total US venture …
Puerto Ricans have gone weeks without reliable water after a pipeline rupture, and the government has never explained why. A June rupture in the 72-inch Superaqueduct pipeline in Bayamón triggered outages that have now stretched past 50 days on some San Juan streets, forcing the governor to deploy t…
A Silicon Valley start-up is hiring statehouse reporters to feed a language model, not readers. State Affairs has raised $70m, including from Peter Thiel's Founders Fund, to staff local beats decimated over the past decade — but the resulting stories are organized for corporate subscribers via AI, n…
Shein finally won Chinese regulatory approval for its Hong Kong listing, and the timing may cost it. The fast-fashion retailer is eyeing a roughly $40bn valuation, but global web traffic, app downloads, and US sales have stagnated or declined this year — a sector-wide slowdown also hitting Temu and …
Spain faces France in Dallas tonight for a place in the World Cup final. Kylian Mbappé arrives with eight goals and three assists, a Real Madrid World Cup scoring record; Marc Cucurella has played every minute for Spain and added two assists of his own. Kickoff is 9pm CEST, La1 and DAZN — a rare pur…
The Bank of Canada is expected to hold rates steady Wednesday for a sixth straight meeting. Economists surveyed by the Wall Street Journal say inflation remains too hot to cut while growth stays too tepid to raise, with Iran-driven energy prices and an unrenewed USMCA both clouding the outlook. Sepa…
Puerto Rico's fiscal oversight nears its decade mark amid pressure for structural follow-through, not another extension. The island's water crisis, running in parallel, has become the sharper test of whether post-PROMESA governance can deliver basic services — a National Guard water-distribution ope…
Employees are "job scrolling": browsing listings they won't apply to, just to feel reassured.