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Business
Chip stocks lead Big Tech rally
It’s the start of a critical week testing investor appetite in the AI boom.
View / The debate over AGOA is missing the point
Meta money grab is a plea to investors: Stick with us
The World at a Glance
Updated 7:32pm EDT
1
The US stock market soared as a reinvigorated AI trade drove up chip stocks, kicking off a week that will test appetite in the AI boom.
2FIFA rejected Belgium’s challenge of the decision to overturn US star striker Folarin Balogun’s one-match World Cup suspension.
3US President Donald Trump has changed his mind about the Russia-Ukraine war, Ukrainian President Volodymyr Zelenskyy said.
4Rahm Emanuel, a Democratic presidential hopeful, is expected to convey that ‘the era of absolute US support for Israel’s government is over.’
5Saudi Arabia slashed its main crude oil price for Asian customers, as the competition for buyers intensifies.
6A US judge granted Alibaba a legal reprieve that would allow the Chinese e-commerce giant to temporarily resume lobbying in the US.
Saudi Arabia slashes main crude oil price for Asian customers
Despite the discount, Asian buyers said Saudi supplies were still more expensive than those from other regional producers.
Democratic presidential hopeful questions absolute US support for Israel
Rahm Emanuel plans to say Israel should view US support as “expressly contingent” on several factors.
Alibaba wins US lobbying reprieve
It’s the latest development in a closely-watched case with implications for the US-China technological rivalry.
Trump boosts Dell stock with White House remarks
The US president encouraged Americans to “go out and buy a Dell computer.”
Trump uses semiquincentennial to bash communism
The president slammed communism as a “cancer” during his remarks on the National Mall on Saturday.
SpaceX No. 2 exec donates $320 million of stock to Trump Accounts
Gwynne Shotwell said her gift for the children’s investment accounts is focused on lower-income families in Texas.
Europe wary of US ahead of NATO summit
The transatlantic defense summit this week looks set to confirm the growing rift between Washington and Brussels.
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Politics
Democratic presidential hopeful questions absolute US support for Israel
Rahm Emanuel, an Israel supporter and critic of the Netanyahu government, plans to say Israel should view US support as “expressly contingent” on several factors.
Mike Blake/Reuters
The World of Work: State of the Global Workplace
On-the-record conversations will explore how AI, economic uncertainty, and shifting employee expectations are reshaping organizations, from talent shortages and workforce trust to AI adoption and organizational resilience.
Trump uses semiquincentennial to bash communism
The president slammed communism as a “cancer” during his remarks on the National Mall on Saturday.
Jonathan Ernst/Reuters
Progressives see polling, candidate momentum in Michigan
State Sen. Mallory McMorrow dropped her Senate bid, narrowing the Democratic primary for an open seat to Abdul El-Sayed and Rep. Haley Stevens, D-Mich.
White House marks Trump Accounts launch
More than six million kids had already signed up for Trump Accounts, enacted last year as part of the Republican tax bill, before they launched on July 4.
NATO heads into ‘deal-making’ summit
As NATO leaders head into this week’s annual summit, the alliance increasingly resembles a marketplace defined by defense spending and procurement as much as shared values, analysts said.
America celebrates a chaotic 250th birthday
President Donald Trump marked the 250th anniversary of the US by declaring that the country is “stronger than ever,” as celebrations unfolded amid heightened political tensions in Washington.
How Trump became the president of Washington, DC
The president’s obsession with the nation’s capital is growing as he reaches the limits of presidential power.
Republican committee chair criticizes Zimbabwe leader’s power grab
President Emmerson Mnangagwa is already facing pressure in Washington.
Democratic group offers Colorado primary postmortem
The Congressional Hispanic Caucus’ political arm is taking a victory lap after its preferred candidate, progressive Manny Rutinel, won a competitive Colorado primary this week.
Republicans plot to counter Democrat probes
The GOP could rely on the threat of parallel probes by the Trump administration to power the House minority’s congressional investigations.
Business
Trump boosts Dell stock with White House remarks
The US president encouraged Americans to “go out and buy a Dell computer.”
Evan Vucci/Reuters
Chip stocks lead Big Tech rally
It’s the start of a critical week testing investor appetite in the AI boom.
SpaceX No. 2 exec donates $320 million of stock to Trump Accounts
Gwynne Shotwell said her gift for the children’s investment accounts is focused on lower-income families in Texas.
India benefits from lack of AI stocks
India’s stock market has lagged behind the rest of the world largely due to its lack of big AI names. That’s now proving to be an advantage.
OPEC+ hikes output as prices fall
OPEC+ on Sunday agreed to increase crude production again, as more barrels flow through the Strait of Hormuz amid a US-Iran ceasefire.
Technology
Trump boosts Dell stock with White House remarks
The US president encouraged Americans to “go out and buy a Dell computer.”
Evan Vucci/Reuters
Alibaba wins US lobbying reprieve
It’s the latest development in a closely-watched case with implications for the countries’ technological rivalry.
Florence Lo/Reuters
Chip stocks lead Big Tech rally
It’s the start of a critical week testing investor appetite in the AI boom.
India benefits from lack of AI stocks
India’s stock market has lagged behind the rest of the world largely due to its lack of big AI names. That’s now proving to be an advantage.
Apptronik turns robot simulations into reality
The company will share findings with Google DeepMind and integrate data into Gemini robots.
US death rate hits record low
A collapse of drug overdose deaths was the main driver.
Energy
Saudi Arabia slashes main crude oil price for Asian customers
Despite the discount, Asian buyers said Saudi supplies were still more expensive than those from other regional producers.
Ali Jarekji/Reuters
US heat wave strains grid
A heat wave gripping the US this week is putting pressure on an already-strained energy grid.
Jordan Tovin/Reuters
Russia faces growing fuel shortage
President Vladimir Putin acknowledged this week that Ukrainian drone attacks on Russian refineries had triggered fuel shortages, but downplayed the severity of a crisis.
Alexander Ermochenko/Reuters
Gulf
Saudi Arabia slashes main crude oil price for Asian customers
Despite the discount, Asian buyers said Saudi supplies were still more expensive than those from other regional producers.
Ali Jarekji/Reuters
Qatar and Saudi Arabia delegations attend funeral of Ayatollah Khamenei
The display of diplomatic protocol drew criticism after Iranian organizers appeared to taunt the visiting delegations.
UAE’s non-oil economy reaches lowest point in seven years
The UAE’s non-oil economy is experiencing its worst period since the COVID-19 pandemic.
Dubai presses on with megabuilds
The emirate approved an 18 billion-dirham ($4.9 billion) spending plan for new measures aimed at improving the attractiveness of the city.
Saudi sales offsets Gulf property slowdown for DarGlobal
The London-listed luxury developer has seen a pause in some markets during the war, but demand in Saudi Arabia is driving growth.
China
Alibaba wins US lobbying reprieve
It’s the latest development in a closely-watched case with implications for the countries’ technological rivalry.
Florence Lo/Reuters
Regional powers protest as China tests long-range missile
Beijing insisted the test was not directed at any particular country, but the move drew rebukes from Japan, Australia and New Zealand.
Maxim Shemetov/Reuters
Beijing releases jailed pastor
The leader of a prominent Chinese underground church was released from prison and traveled to the US after President Donald Trump raised his case directly.
Jin in 2018. Thomas Peter/Reuters
Africa
East African animators break onto global stage
The Addis-Ababa-based studio behind ‘Sunday Morning’ took home two awards.
@behagerlij/Instagram
Dangote eyes expansion into Tanzania
The Nigerian billionaire held talks with Tanzania’s president last week, and formal talks to finalize a deal are to be held soon.
Temilade Adelaja/Reuters
Economists warn Africa faces prolonged crunch
A US-Iran ceasefire is unlikely to ease short-term conditions in a region badly impacted by the war.
DRC to extend fuel subsidy cuts for mining compan
The government said it was “rationalizing” fuel support by targeting sectors able to absorb market prices.
Lawsuits threaten Nigerian opposition challenge to Tinubu
Opposition parties say the cases raise concerns about transparency and rule of law ahead of January 2027 elections.
The debate over AGOA is missing the point
The US needs to stop thinking of Africa as a collection of bilateral relationships and start building a continental trade and investment strategy.
Security
Zelenskyy says Trump has changed mind on war
The US president “wants to be where there’s success,” Zelenskyy told the Financial Times.
Jonathan Ernst/Reuters
Fearing Russian aggression, Eastern Europe prepares
Along Europe’s eastern flank, countries are stockpiling, fortifying, and preparing to go it alone in the face of Russian aggression.
Kuba Stezycki/Reuters
Moscow and Kyiv escalate air campaigns
Russia and Ukraine both launched strikes, vying for the upper hand ahead of a key NATO summit this week.
A Russian drone and missile attack in Kyiv yesterday. Oleksandr Ratushniak/Reuters.
Media
‘The View’ throttles back political candidate bookings following FCC inquiry
Since February, the ABC daytime talk show has cut its bookings of candidates for office.
Daniel Cole/Reuters
Daily Wire, under pressure, seeks strategic investors, targets IPO
The Daily Wire is in talks to take on at least $100 million in investment, with an eye on an initial public offering in a few years’ time.
OpenAI’s $100 billion ad bet
The tech giant rolled out new tools for creatives.
The Atlantic beefs up its video podcasts
One of America’s oldest magazines is investing in video after seeing notable growth in its audience.
David Droga on AI and the end of ‘mediocre’ human-made ads
As he sees it, the advertising industry is in the throes of a profound technological shift.
CEO Signal
How Allianz’s CEO prepares for the risk of ‘huge havoc’
Oliver Bäte says Europe can no longer afford all the options its citizens expect.
Courtesy of Allianz/Graph Massara/Semafor
The MSCI boss helping Elon Musk get closer to Mars
Henry Fernandez says the index provider has grown by playing soccer, not singles tennis.
Courtesy of MSCI/Graph Massara/Semafor
How Antonio Neri turned HPE into an unlikely AI stock
The veteran dealmaker says he’s ‘building the best networking business on the planet’.
Courtesy of HPE/Graph Massara/Semafor
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