Page 8 - World News

Asian shares decline as AI stocks tumble; South Korea's Kospi down 6.6%

Benchmarks in Japan and South Korea fell sharply as AI-related and semiconductor stocks came under pressure, overshadowing softer oil prices despite renewed US-Iran tensions

Gulf nations race to build oil routes beyond Hormuz amid Iran conflict

As tensions with Iran expose the risks of the Strait of Hormuz, Gulf nations are investing in new pipelines and ports to secure oil exports and reduce dependence on the key waterway

China, Xi seen more favourably than US, Trump in many nations: Survey

Pew Research Center survey across 36 countries finds China is viewed more favourably than the US in 25 countries, while Xi Jinping enjoys higher favourability than Donald Trump in 22

US Mint begins producing $1 Trump coin that will be available in fall

Treasury says the commemorative $1 coin, featuring a gold finish rather than solid gold, will be released this fall to mark the 250th anniversary of the United States

Trump admin 'screwed up' communications around Epstein files, says Vance

Vice President says former Attorney General Pam Bondi overstated what the Justice Department possessed, but denies there was any malicious intent

More than half of House Democrats vote to cut Israel aid in growing split

Amendment to eliminate $3.3 billion in US military aid fails 104-314, but shows growing divisions within the Democratic Party over Israel's war in Gaza

NYT files motion to quash DOJ subpoenas over Air Force One coverage

NYT says subpoenas issued to journalists over reporting on Qatar-gifted Air Force One violate constitutional protections and seek to punish its reporting

Iran rules out US talks, says focus remains on defence amid conflict

Foreign Ministry spokesperson Esmaeil Baghaei says Tehran will not resume negotiations while the US continues military operations and alleged violations of the June 17 memorandum

IEA chief warns prolonged Hormuz disruption could hit global economy

IEA chief Fatih Birol says markets are gripped by uncertainty as attacks in and around the Strait of Hormuz threaten oil, gas and fertiliser shipments

Iranian attacks target Bahrain, Kuwait as US launches more strikes on Iran

US airstrikes and Iran's attacks on Bahrain and Kuwait have shattered the interim truce, raising fears of a broader regional conflict and renewed threats to shipping through the Strait of Hormuz

SpaceX shares briefly fall below $135 IPO price as post-listing rally fades

Stock closed at $135.27, marginally above its offer price after a fourth straight day of declines, reflecting cooling investor enthusiasm

Fed's Warsh says he has repeatedly told Donald Trump he is independent

Federal Reserve Chairman Kevin Warsh said President Donald Trump has not tried to influence monetary policy and reaffirmed his commitment to the central bank's independence

Bollore joins race to acquire Lionsgate Studios amid media consolidation

Lionsgate Studios is exploring a potential sale, with France's Bollore Group and Banijay among companies weighing takeover bids amid media consolidation

Fed's Warsh says AI-driven price pressures may not prove inflationary

Fed Chair Kevin Warsh said AI-driven price increases may not be inflationary, arguing higher investment could boost productivity and wages over time

Pak seeks country's top Islamic seminary guidance on crypto assets

Pakistan's crypto regulator has sought an Islamic ruling distinguishing speculative cryptocurrencies from asset-backed digital tokens to support wider adoption

Thames Water warns funds may run out as Andy Burnham weighs next move

Thames Water warns it could run out of cash by November unless creditors inject fresh funds, with its future hinging on incoming UK PM Andy Burnham's stance

US launches fresh strikes on Iran as escalation threatens shipping

The US launched fresh strikes on Iranian military sites as Tehran threatened wider energy disruptions, escalating tensions over the Strait of Hormuz

China's GDP growth slows sharply in second quarter, misses target

China's Q2 GDP growth slows to 4.3% as weak domestic demand and property woes outweigh strong exports driven by AI chips and electric vehicles

China-backed Pakistan copper mine warns of shutdown amid Balochistan unrest

The warning highlights how rising insurgent attacks in Balochistan are threatening Pakistan's copper exports and billions of dollars in Chinese investments

Apple sues OpenAI over 'trade secrets': What the dispute is about

Apple claims OpenAI targeted engineers working on Apple's hardware programmes and encouraged them to share confidential information after they joined the AI company