World News
Gold climbs as weaker dollar, easing inflation lift bullion prices
The dollar fell 0.8% as the yen strengthened, while traders remained on alert for possible intervention by Japanese authorities to prop up the battered currency
 "Gold climbs as weaker dollar, easing inflation lift bullion prices")
Iran war widens as Egypt port drone strike sparks Suez route fears
No group has claimed responsibility, the cabinet said, adding that authorities were taking measures to protect Egypt's national security
 "Iran war widens as Egypt port drone strike sparks Suez route fears")
US grants Amazon's Zoox first approval for steering-wheel-free robotaxis
US regulators have allowed Amazon-owned Zoox to commercially deploy up to 2,500 steering-wheel-free robotaxis annually, subject to state approvals and added safety oversight
 "US grants Amazon's Zoox first approval for steering-wheel-free robotaxis")
Meta's AI splurge lays bare its compute conundrum, cash flow shrinks by 91%
Pressed by analysts for details on Meta's plans, Zuckerberg framed compute as a scarce strategic asset that the company should keep and build around, rather than simply sell for short-term profit
 "Meta's AI splurge lays bare its compute conundrum, cash flow shrinks by 91%")
Microsoft Azure revenue tops $100 bn as cloud growth hits 4-year high
Chief Financial Officer Amy Hood said she expected growth in the cloud unit to accelerate further in the current quarter, to about 45 per cent.
 "Microsoft Azure revenue tops $100 bn as cloud growth hits 4-year high")
Samsung chip profit jumps 250-fold, signs long-term AI supply deals
The company's net profit for the quarter ended June 30 climbed to 71.27 trillion won ($49.2 billion).
 "Samsung chip profit jumps 250-fold, signs long-term AI supply deals")
Federal Reserve's 'hawkish hold' muddies path for stocks and bonds
The Fed's decision to hold rates while signalling a hawkish stance has heightened uncertainty, leaving investors to navigate volatile stock and bond markets without clear forward guidance
 "Federal Reserve's 'hawkish hold' muddies path for stocks and bonds")
Fed leaves rates unchanged; three policymakers dissent in favour of a hike
Warsh, who took over as Fed chair in May, has said he has "no tolerance" for inflation that has remained above the central bank's 2 per cent target for more than five years
 "Fed leaves rates unchanged; three policymakers dissent in favour of a hike")
Social dialogue key as AI reshapes labour markets in Asia-Pacific: ILO
ILO specialist says stronger industrial relations and worker participation are essential to ensure AI-driven change improves jobs without widening inequality
 "Social dialogue key as AI reshapes labour markets in Asia-Pacific: ILO")
Iran claims to destroy three US F-35 jets, damage three more in Jordan
Iran claims it destroyed US F-35 fighter jets at Jordan's Al-Azraq Air Base after American strikes on Qeshm Island, as tensions between Tehran and Washington escalate
 "Iran claims to destroy three US F-35 jets, damage three more in Jordan")
US GDP grows less-than-expected at 1.5% despite strong consumer spending
US economic growth slowed to 1.5% in the second quarter as weaker net exports offset robust consumer spending and strong AI-led business investment
 "US GDP grows less-than-expected at 1.5% despite strong consumer spending")
SpaceX tightens supply chain rules, excludes Chinese nationals, components
SpaceX is carrying out detailed supplier audits and asking partners worldwide not to deploy Chinese nationals at factories making products for the company
 "SpaceX tightens supply chain rules, excludes Chinese nationals, components")
Hope dwindles for rescue in Japan as earthquake death toll rises to 23
Nearly 23,000 homes were still without electricity and more than 10,000 people were staying in the roughly 400 shelters, where power sources were being added to provide air conditioning
 "Hope dwindles for rescue in Japan as earthquake death toll rises to 23")
How Warner's streaming gamble sent Christopher Nolan into Universal's arms
Warner Bros' 2021 streaming strategy ended its long partnership with Christopher Nolan. Universal offered a cinema-first approach, leading to the success of Oppenheimer and The Odyssey
 "How Warner's streaming gamble sent Christopher Nolan into Universal's arms")
Jordanian air defences intercept, shoot down 5 missiles launched from Iran
The interceptions come after the US military said it had completed 'a heavy wave of strikes against Iran,' conducted in response to an earlier Iranian missile attack on a US base in Jordan
 "Jordanian air defences intercept, shoot down 5 missiles launched from Iran")
Italian family clashes over Del Vecchio's $46 billion Ray-Ban empire
A governance crisis at EssilorLuxottica deepens as heirs of founder Leonardo Del Vecchio struggle to manage the fortune he built before his death
 "Italian family clashes over Del Vecchio's $46 billion Ray-Ban empire")
EU AI Act: What changes as new transparency rules take effect from August 2
The European Union's AI transparency rules become applicable from August 2, bringing mandatory disclosures for certain AI-generated content and significant penalties for violations
 "EU AI Act: What changes as new transparency rules take effect from August 2")
US Senators warn Apple not to buy chips from blacklisted Chinese firms
Bipartisan lawmakers warn Apple against sourcing memory chips from CXMT and YMTC, citing national security concerns over reliance on Chinese suppliers
 "US Senators warn Apple not to buy chips from blacklisted Chinese firms")
Salman Rushdie stabbing case: US national convicted on charges of terrorism
On August 12, 2022, Hadi Matar attempted to murder Rushdie in an effort to carry out a fatwa calling for his execution because of the novel "Satanic Verses", published in 1988
 "Salman Rushdie stabbing case: US national convicted on charges of terrorism")
Asian stocks choppy after rout, Fed leaves markets uncertain on rates
Asian chipmakers have been the centre of attention this week after a deep selloff in South Korean stocks that wiped more than $2 trillion from the country's equity market rocked markets
 "Asian stocks choppy after rout, Fed leaves markets uncertain on rates")