Oil prices have surged following strikes between Iran and the U.S. and Houthi missile attacks on Saudi Arabia, leading to decreased ship traffic in the Strait of Hormuz and strategic plans for new bypass routes, while the UAE's crude output has increased after leaving OPEC and the EU continues to purchase Russian gas despite geopolitical shifts.

• Oil Prices Surge After Iran and U.S. Trade Strikes — The New York Times Business -
• Oil surges past $80 on Trump threat to impose 20% Hormuz fee — Financial Times -
• Yemen’s Houthis fire missiles at Saudi Arabia — Financial Times -

• Strait of Hormuz Ship Traffic Falls to Lowest Point in a Month After Strikes — The New York Times Business -
• Will Oil Prices Rise as the US-Iran Truce Frays? The Answer Lies With China. — The New York Times Business -
• Fees for seas: a history of taxing waterways — Financial Times -
• UK uses new powers to ban Iran’s IRGC and Russian intelligence unit — Financial Times -
• U.A.E. Crude Output Surged in June After OPEC Exit — Wall Street Journal -
• Dubai plans new port to bypass Strait of Hormuz — Financial Times -
• US launches more strikes on Iran as ceasefire teeters — Financial Times -
• Frequent Oil Draws From U.S. Strategic Reserve Push Old System to Breaking Point — Wall Street Journal -
• EU buys record amount of gas from Russia’s flagship plant — Financial Times -

Concerns about AI threats to jobs are rising among economists and tech leaders, while **Meta invests $50 billion in a data center and Intel expands its Irish plant for AI chip demand, as Europe considers social media bans for children and companies increasingly adopt Chinese AI models to reduce costs, while the U.S. explores national buyers for quantum computing**.

• Trump Administration Is Snapping Up Stakes in Private Companies. Could A.I. Be Next? — The New York Times Business -
• US quantum computing needs a national buyer — Financial Times -
• Europe Takes Step Toward Possible Social Media Ban for Children — The New York Times Business -

• Nearly 200 Economists and Tech Leaders Warn of A.I. Threats — The New York Times Business -
• Meta Lifts Cost of Louisiana Data Center to $50 Billion — Wall Street Journal -
• Intel to invest €5bn in Irish plant as AI chip demand surges — Financial Times -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -
• EU moves towards social media ban for children — Financial Times -
• Why AI Might Actually Help Solve the Next Labor Crisis — Wall Street Journal -
• AI is not enough to arrest China’s decline — Financial Times -
• Companies turn to Chinese AI models to cut costs — Financial Times -
• Investors alarmed as Asian chipmakers take stranglehold on indices — Financial Times -

A major Hollywood merger between Paramount and Warner Bros. faces lawsuits from multiple states aiming to block the deal, while First Hawaiian merges with TriCo Bancshares, **Blackstone invests $5.34 billion in Williams power infrastructure, and Shell sells its Indian renewables business, as Nippon Paint bids $8.6 billion for AkzoNobel’s decorative-paints unit**.

• California, Other State AGs Sue to Block Paramount-Warner Megadeal — Wall Street Journal -
• Paramount-Warner Bros. Merger Is Challenged in Court by California and 11 Other States — The New York Times Business -
• Shell sells Indian wind and solar business for $1.8bn — Financial Times -

• Democratic states sue to block Paramount’s $110bn WBD acquisition — Financial Times -
• States Prepare Lawsuit to Block Paramount’s Merger With Warner Bros. — The New York Times Business -
• First Hawaiian to Merge With TriCo Bancshares in $2 Billion All-Stock Deal — Wall Street Journal -
• Williams Gets $5.34 Billion Investment from Blackstone-led Group — Wall Street Journal -
• Nippon Paint Makes $8.6 Billion Bid for AkzoNobel’s Decorative-Paints Unit — Wall Street Journal -

Federal Reserve officials warn of potential interest rate hikes if inflation remains high, while legal challenges surround former President Trump's IRS lawsuit and discussions about his administration's pursuit of equity stakes in private companies continue, and the UAW president faces a Justice Department investigation amid union infighting and debates on wealth distribution.

• Judge says Trump’s IRS lawsuit had no ‘basis in law or fact’ — Financial Times -
• How UAW’s Bold Leader Got Caught in New Wave of Union Infighting — Wall Street Journal -
• Trump Accounts Prompt Parents to Start Saving Early for Their Kids — The New York Times Business -

• The Fed’s Christopher Waller Warns of Higher Rates Soon if Inflation Stays High — The New York Times Business -
• Top Fed official warns ‘hot’ inflation could trigger rate rise — Financial Times -
• The deceptive promises of America’s democratic socialists — Financial Times -
• U.A.W. President Says He’s the Victim of ‘Bogus Allegations’ — The New York Times Business -
• My top five takeaways from the fall of Graham Platner — Financial Times -
• Should the US redistribute or pre-distribute wealth? — Financial Times -
• The Trump factor: will he help or hurt his party in the midterms? — Financial Times -
• Justice Department Investigating Allegation Against UAW President Shawn Fain — Wall Street Journal -

UK politics sees discussions on immigration policy and the Bank of England facing internal divisions, while Hungary's president is ousted and El Salvador's Bukele seeks a third term, with trade deals between the UK and Switzerland easing visa restrictions, Russia's intelligence operations in Japan uncovered, and Ukraine's drone campaigns intensifying.

• What will Burnham do on immigration? — Financial Times -
• How Putin Turned Japan Into a Den of Spies — The New York Times Business -
• El Salvador’s Bukele set to run for third term — Financial Times -

• Burnham will struggle to exorcise Labour’s historic weakness — Financial Times -
• Hungary’s MPs oust president in purge of Orbán loyalists — Financial Times -
• Netanyahu opponent leads polls ahead of Israeli elections — Financial Times -
• UK and Switzerland to loosen visa restrictions as part of services trade deal — Financial Times -
• China-proofing European cleantech is a tricky business — Financial Times -
• Trump’s plan for Europe is falling apart — Financial Times -
• Ukraine’s drone swarms test Moscow air defences — Financial Times -
• A bold, unpopular Budget could pay off — Financial Times -
• EU urged to follow its own rules and ban trade with Israeli settlements — Financial Times -
• Dimon pressed over whether he lobbied UK government on Epstein’s advice — Financial Times -
• Speeding up digital finance shift ‘could deliver £33bn boost’ to UK economy — Financial Times -
• Mastercard examines sale of UK payments subsidiary Vocalink — Financial Times -
• UK proposal on EU youth mobility scheme is ‘non-starter’, diplomats warn — Financial Times -
• Australians ‘going gangbusters’ on Chinese batteries in renewable energy shift — Financial Times -
• Burnham wants Britain to build council houses. Is there a catch? — Financial Times -
• Bank of England hit by internal divisions over shake-up — Financial Times -
• The path to a ‘one-and-done’ rate rise at the ECB — Financial Times -

Wall Street stocks are experiencing volatility due to geopolitical tensions in Iran and AI fears, with upcoming earnings season expected to deliver significant investment banking fees, while Asian chipmakers' dominance raises investor alarms, and **market talks cover basic materials, energy, utilities, and auto/transport sectors**.

• Basic Materials Roundup: Market Talk — Wall Street Journal -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -
• Auto & Transport Roundup: Market Talk — Wall Street Journal -

• Wall Street tech stocks fall after Asian chipmakers hammered — Financial Times -
• Wall Street’s Big Week for Earnings and Economic Data — The New York Times Business -
• FirstFT: Stocks tumble on Iran and AI fears — Financial Times -
• Wall Street set for biggest haul from investment banking fees in 4 years — Financial Times -
• Investors alarmed as Asian chipmakers take stranglehold on indices — Financial Times -
• Asia’s capital surplus favours the safest winners — Financial Times -
• Traders braced for won volatility after blockbuster SK Hynix listing — Financial Times -

Chipotle expands into Mexico as domestic sales slow, Brown-Forman's CEO is set to step down, Volkswagen considers cutting 50,000 jobs amid Chinese competition, and De Beers halts diamond production due to weak prices, while SpaceX plans its next Starship test flight and **Shein aims for a $40 billion valuation in its Hong Kong IPO**.

• Mexican food chain Chipotle takes its burritos and bowls to Mexico — Financial Times -
• CEO of Jack Daniel’s Maker Brown-Forman to Step Down — Wall Street Journal -
• US appeals court revives lawsuits linking painkiller Tylenol to autism — Financial Times -

• The One Thing Everyone in America Can Agree On? Costco — Wall Street Journal -
• Volkswagen Warns It May Need to Cut 50,000 More Jobs — Wall Street Journal -
• U.S. Electric Vehicle Sales are Down but E.V. Chargers are Booming — The New York Times Business -
• SpaceX Plans Starship Test Flight After Delay — Wall Street Journal -
• De Beers halts output at South African diamond mine as weak prices weigh on sale — Financial Times -
• Stellantis Shipments Rise on Strong Growth in North America — Wall Street Journal -
• Shein Targets Over $40 Billion Valuation After China Nod for IPO — Wall Street Journal -
• Jane Fraser’s ruthless remake of Citigroup — Financial Times -