• ArcBest to Consolidate Brands, Cut About 2% of Workforce — Wall Street Journal - 21:26
• Chevron Will Explore a Pipeline Bypassing the Strait of Hormuz — Wall Street Journal - 21:26
• US chip and memory stocks slide in fresh bout of Wall Street tumult — Financial Times - 21:14
• Strait of Hormuz Tanker Traffic Erodes Further as Oil Prices Rise — The New York Times Business - 21:09
• Bird Strike Might Have Led to Hudson River Helicopter Crash, Investigators Say — Wall Street Journal - 21:07
• Auto & Transport Roundup: Market Talk — Wall Street Journal - 21:07
• Blanche to meet Epstein’s victims after senator’s confirmation ultimatum — Financial Times - 21:06
• Basic Materials Roundup: Market Talk — Wall Street Journal - 21:03
• Netflix Revenue and Profit Increase, but the Company Expects Growth to Slow — Wall Street Journal - 21:02
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal - 21:01

The ongoing Iran war is significantly impacting global oil supplies and prices, with renewed Strait of Hormuz blockades and rising diesel costs, while US tariffs on Brazil further strain international trade relations, and drone boat manufacturers expand in response to the conflict.

• Maker of Drone Boats Used in Iran War to Open New Texas Shipyard — The New York Times Business -
• Ukraine’s outgoing defence minister attacks Zelenskyy as thousands protest against firing — Financial Times -
• Strait of Hormuz Tanker Traffic Erodes Further as Oil Prices Rise — The New York Times Business -

• Diesel Prices Hit $5 a Gallon Again, Up 33% Since Start of Iran War — The New York Times Business -
• IMF warns Burnham he cannot afford to boost public spending — Financial Times -
• US targets Brazil with tariffs as relations deteriorate — Financial Times -
• Trump administration slaps 25% tariff on Brazil as ties deteriorate — Financial Times -
• Hormuz closure threatens renewed oil supply crunch — Financial Times -
• TotalEnergies Expects Earnings Boost From War-Fueled Price Rally — Wall Street Journal -
• Merz and Macron to reset ties after fighter jet project collapse — Financial Times -
• Trump Administration to Impose New Tariffs on Brazil — The New York Times Business -
• The US rapprochement with Venezuela’s most feared man — Financial Times -
• Panama officials visit Beijing in push to end shipping row — Financial Times -
• Renewed Hormuz tensions raise chances of a pricey winter — Financial Times -
• Wanted drug trafficker puts Sierra Leone’s development aid at risk — Financial Times -
• US hits tanker heading for Kharg Island under renewed Iran blockade — Financial Times -
• US will not win Iran war from the air, Trump’s ex-defence chief warns — Financial Times -

Google faces EU orders to open Android to AI rivals, as Anthropic moves toward an IPO and a new Chinese AI startup emerges, while Twitter marks its 20th anniversary and Europe seeks technological sovereignty amid a debate on the role of humanities in the age of AI.

• Twitter Turns 20: Two Decades of Memes, Movements and Hot Takes — The New York Times Business -
• We need humanities more than ever in the age of AI — Financial Times -
• Google Ordered to Give A.I. Rivals More Access on Android Smartphones — The New York Times Business -

• Google Ordered to Give A.I. Rivals More Access on Android Smartphones — The New York Times Business -
• The Quest for ‘Technological Sovereignty’ in Europe (and Why It’s So Hard) — The New York Times Business -
• Anthropic Inches Toward a Mega-I.P.O. — The New York Times Business -
• Chinese AI start-up Moonshot to launch model challenging Anthropic’s lead — Financial Times -
• VPN use in UK doubles as people circumvent porn laws — Financial Times -
• India Is Moving Fast to Build A.I. Data Centers. A Coastal City May Pay the Price. — The New York Times Business -
• IBM’s profit warning shows tech valuations are all in the timing — Financial Times -

**TSMC pledges a massive $100 billion additional investment in US chip manufacturing, Uber acquires Delivery Hero for $14.8 billion, and several major companies like GE Aerospace, UnitedHealth, and Abbott Laboratories report strong earnings, showcasing a period of significant corporate growth and strategic M&A**.

• TSMC Adds $100 Billion to Its U.S. Spending Plan — The New York Times Business -
• GE Aerospace Raises Outlook Despite Delivery Delays — Wall Street Journal -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -

• Abbott Laboratories Sales Rise on Diagnostics Growth — Wall Street Journal -
• UnitedHealth Results Handily Beat Wall Street Expectations — Wall Street Journal -
• Basic Materials Roundup: Market Talk — Wall Street Journal -
• U.S. Bancorp Quarterly Revenue Rises to Record — Wall Street Journal -
• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• Eli Lilly buys psychedelic biotech backed by Peter Thiel — Financial Times -
• Uber to Buy Delivery Hero in $14.8 Billion Deal — Wall Street Journal -
• TSMC to Invest a Further $100 Billion in U.S. After AI Fuels Surge in Earnings — Wall Street Journal -
• UBS tries to crack the American market at last — Financial Times -
• Publicis Raises Guidance on New Business Wins — Wall Street Journal -
• ABB to Buy U.K.’s Rotork for $5.6 Billion — Wall Street Journal -
• Uber agrees €13bn deal to acquire Delivery Hero — Financial Times -
• Telenor Cuts Guidance Following Challenging Quarter — Wall Street Journal -
• Will Stripe swipe PayPal? — Financial Times -
• Goldman settles for junior roles on trio of UK deals — Financial Times -
• India Inc goes on a foreign buying spree — Financial Times -

Under new leadership with Andy Burnham, the UK nationalizes British Steel and faces IMF warnings on public spending, while concerns about business access to Number 10 and parliamentary scrutiny of regulator appointments highlight an evolving political landscape.

• Varun Chandra to stay as Number 10 business adviser under Burnham — Financial Times -
• U.K. Nationalizes British Steel, Its Last Major Steel Mill — The New York Times Business -
• MPs refuse to endorse former Virgin Money chief to lead accounting regulator — Financial Times -

• Vibes, not results, will dictate Burnham’s true election timetable — Financial Times -
• Shabana Mahmood ticks almost every box — Financial Times -
• UK economy grew 0.1% in May — Financial Times -
• An unelucidating post about the UK’s mysterious ‘Other’ direct debits — Financial Times -
• Business worries about how to reach Burnham — Financial Times -
• What did Keir Starmer actually achieve? — Financial Times -
• Downing Street calls in private equity bosses amid London listing woes — Financial Times -
• Cambridge university looks to boost UK manufacturing with pioneering wind tunnel — Financial Times -

The White House faces pushback on politically reviewing federal grants, as consumers experience a temporary inflation respite allowing for increased spending, and the UAW grapples with political influence, alongside ongoing legal battles involving the Trump administration and The New York Times.

• White House Faces Stiff Pushback on Subjecting Grants to Political Review — The New York Times Business -
• Inflation Respite Gives More Consumers a Chance to Spend — The New York Times Business -
• Opinion | Politics Has Taken Over My Union — Wall Street Journal -

• FirstFT: The pros and cons of California’s wealth tax — Financial Times -
• Beige Book shows robust US economy, labour market picking up — Financial Times -
• US government looks at joining Trump lawsuit against BBC — Financial Times -
• Can Silicon Valley’s billionaires stop a California wealth tax? — Financial Times -
• Kalshi to Offer Contracts Predicting Flight Cancellations — Wall Street Journal -
• The New York Times Files Motion to Quash Trump Administration Subpoenas — Wall Street Journal -
• New York Times Files Motion to Quash Subpoenas of Its Journalists — The New York Times Business -
• Top Tax Official to Leave Trump Administration — The New York Times Business -

A parasitic outbreak puts the lettuce industry in a PR crisis, global wildfires intensify across Europe, and the business of sports adapts to a hotter planet, against a backdrop of South Korea's rate hike, China's economic slowdown, and EU efforts to prepare for a digital euro.

• Parasitic Outbreak Puts Big Lettuce in PR Crisis Mode — Wall Street Journal -
• How a Hotter Planet Is Changing the Business of Sports — Wall Street Journal -
• Wildfires burn record area in France as Europe’s risk intensifies — Financial Times -

• Italy’s parliament backs Meloni’s contentious electoral overhaul — Financial Times -
• US lawmakers urge Trump administration to ban Chinese memory chips — Financial Times -
• The digital euro gets ready for beta testing — Financial Times -
• South Korea stocks slump after first rate rise in 3 years — Financial Times -
• Takanomics vs Abenomics: the $2.3tn prizefight — Financial Times -
• Is China’s economic slowdown here to stay? — Financial Times -