World News

Family offices amass $3.8 billion SpaceX bet in boost for Elon Musk

More than a dozen family offices held a total of at least $3.8 billion in the company officially known as Space Exploration Technologies Corp. through the first half of 2026, filings show.

Xi Jinping ties predecessor's legacy to his own agenda as risks grow

Jinping invoked the legacy of his predecessor Jiang Zemin to advance his own economic and global policy agenda, warning of "high winds and rough waters"

Iran threatens to go on offensive in Hormuz if diplomacy with US fails

There was no ​immediate response to those comments from Washington, but US Prez Donald Trump said in a phone interview with Fox News on Monday that Iran "should put up the white flag of surrender"

Ferrari's controversial first EV auctions for record $40 million

The model was designed with LoveFrom, the studio founded by Jony Ive, Apple Inc.'s former design chief and a key figure behind the iPhone and iMac.

US Prez Donald Trump says Iran should surrender, threatens to bomb Oman

An interim deal agreed to in June declared an "immediate and permanent termination ‌of military operations on all fronts", ​but quickly unraveled, with Trump ​saying it was "over" on July 7

Iran works with Oman to finalise Hormuz agreement to manage shipping

The 60-day negotiating period to find a peace deal between the US and Iran was expiring, with no word of an extension and both sides seemingly as far apart as they were at the start.

US Supreme Court again rebuffs Trump in $5 million E Jean Carroll case

Trump denied Carroll's claims and asserted that she lied both in 2019 and again in 2022, while he was out of office

Russia receives Indian gasoline shipment amid domestic fuel shortages

Deputy Prime Minister Alexander Novak said in July that Russia would begin importing oil products to help stabilise the domestic market

Saudi Aramco offers crude oil outside Hormuz to some Asian refiners

In a rare ​move, Aramco is in ​talks with buyers to supply Arab Medium and Arab Heavy crude ​via ship-to-ship (STS) transfers off Fujairah in the UAE, the sources said.

Houthis say they attacked Saudi Arabia's vessels off Yemen's Mocha

Mocha is a Red Sea port near the Bab el-Mandeb Strait, a strategic chokepoint connecting the Red Sea with the Gulf of Aden and an important international shipping route

Why AI stocks could crash even if AI succeeds: ECB explains the risk

The ECB said AI can boost productivity and profits, but rising economy-wide risks could still trigger a stock correction, with a US tech sell-off potentially spreading to European markets

UK PM Burnham exchanged messages with impersonator posing as Trump's aide

Andy Burnham communicated with someone posing as White House chief of staff Susie Wiles, an incident on which Downing Street has declined to comment

China starts first regular container service through Arctic: Why it matters

The service, officially called the China-Europe Arctic Express and branded by the Chinese carrier as the 'Ice Silk Road', will sail along Russia's Northern Sea Route

60-day deadline for Iran peace deal is expiring. Here's where things stand

Talks, such as they are, have focused on reopening the Strait of Hormuz and lifting a US blockade on Iran, both of which were supposed to have happened under the interim deal

2 killed as Russian strike hits ArcelorMittal steel plant in Ukraine

According to Russian state-run newspaper Rossiya Gazeta, the strike on Sunday hit key energy and blast furnace production facilities at the plant in Kryvyi Rih

US envoy Gor to outline roadmap for deeper India-US trade, strategic ties

The US Ambassador to India will deliver a special address at the IACC National Convention 2026 in Mumbai, with technology, investment, supply chains and economic cooperation on the agenda

Meta faces landmark US trial over child safety on Facebook, Instagram

US states are seeking extensive financial damages that could, in theory, total as much as $1.4 trillion, plus changes to how the company operates Facebook and Instagram

Nestle looks to develop new products to serve users of weight-loss drugs

The rapid adoption of drugs made by Novo Nordisk and Eli Lilly has fuelled investor concerns that appetite-suppressing medicines could permanently reduce demand for packaged foods, snacks and beverage

South Korea plans underwater data centre as AI boom strains land and power

Ulsan is developing a seabed data centre that could house 100,000 servers, using seawater for cooling as South Korea faces mounting constraints on land, power and grid capacity

Jain Global expands staff, office space in Asia ahead of Millennium tie-up

With the agreement pending completion next month, Jain Global is continuing to woo Asia-based portfolio managers with promises of a different structure