Tesla's stock plunged 13.5% after its Q2 earnings missed analyst expectations, revealing lower-than-anticipated profitability and negative free cash flow due to heavy investments in Robotaxi and Optimus, impacting the broader "Magnificent Seven" tech stocks.
Donald Trump's foreign policy approach to allies in the Middle East and Europe is likened to a protection racket, demanding financial compensation for US security. He proposed a 20% toll on Hormuz shipping and pressured NATO allies to increase defense spending and buy US weapons, framing security as a billable service rather than a collective good.
Alphabet reported double-digit revenue growth and beat Wall Street's Q2 expectations, marking its 12th consecutive quarter of gains. The tech giant increased its capital expenditure forecast to $200bn, driven by massive AI investments, while facing intense competition from rivals like OpenAI and Anthropic.
Tesla has pushed back volume production targets for its Cybercab, Semi, Megapack 3, and Optimus robot to beyond 2026, citing manufacturing challenges and battery production needs. This comes as the company reported increased revenue but a 5% drop in net income due to heavy investment in new products.
An independent public inquiry into the Australia-UK-US Aukus pact highlights substantial concerns regarding its $368bn cost, the suitability of nuclear submarines, and the lack of parliamentary debate, urging greater transparency and scrutiny of the nation's largest defense expenditure.
India's consumption patterns have dramatically shifted from basic needs to experiences and lifestyle choices, now driving nearly 60% of the country's GDP. While this boom is visible across urban and rural areas, fueled by rising incomes and aspirations, it also raises concerns about increasing household debt and financial insecurity, particularly among younger generations who prioritize immediate gratification over long-term savings.
India's debt-to-GDP ratio provisionally moderated to 58.2% in FY26, down from 58.5% in the previous year, Parliament was informed. Interest payments have declined post-Covid, and effective capital expenditure for FY27 is projected to exceed fresh debt receipts, indicating a focus on asset creation and improved fiscal health.
Over 20 Chinese PCB companies, including Victory Giant Technology and WUS Printed Circuit, have announced significant capacity expansion plans in the first half of the year, committing hundreds of millions of dollars. This growth phase is primarily driven by the increasing demand for high-end boards used in AI servers.
Telstra, powering 25m mobile services, experienced a major outage blamed on a time-keeping server issue. The Australian government dismissed foreign interference speculation and launched an investigation. Services have largely returned to normal.
The National Anti-Corruption Commission (Nacc) inspector, Gail Furness, has dropped two investigations into former commissioner Paul Brereton due to his resignation and the belief that systemic issues have been addressed. Significant public funds had already been spent, and further expenditure could not be justified.
Two investigations into former National Anti-Corruption Commissioner Paul Brereton will be discontinued by Nacc inspector Gail Furness, who cited Brereton's resignation and satisfactory resolution of systemic issues as reasons for ending the probes, saving significant public funds.
A Special Investigation Team (SIT) is auditing over Rs 124 crore spent by the Ram Temple Trust on major events, including the Jan 2024 consecration ceremony and Nov 2025 flag-hoisting. The probe scrutinizes financial records to ensure funds were utilized per Trust procedures.
Germany's draft budget for 2027 allocates 20% of federal spending to defense, aiming to meet NATO targets and respond to security concerns. Chancellor Merz defends the rearmament drive against criticism, while Finance Minister Klingbeil acknowledges domestic policy challenges.
Iranians criticize the state's lavish funeral for Ali Khamenei, citing resource allocation amidst economic hardship and budget constraints. Critics question spending on public services, security, and logistics while households struggle with rising costs.
Russia's Baragozza Systems unveiled an AR training system in St. Petersburg for mobile fire teams, enhancing tactical preparedness against UAVs by simulating real-time threats without ammunition, boosting combat readiness.
The Australian Electoral Commission (AEC) has queried One Nation over $800,000 of its $6.01m public funding claim for the last election, leading to the withdrawal of 143 expense items. The AEC is investigating potential breaches of electoral funding laws.
US consumer spending increased by 0.3% in May, defying rising inflation. Prices rose 4.1% year-on-year, the fastest in over three years, yet consumers continued to spend, potentially pressuring the Federal Reserve on interest rates.
The Federal Reserve's preferred inflation gauge, the core PCE price index, rose 3.4% annually, its highest since October 2023, while the all-items PCE hit 4.1%, highest since April 2023. This reinforces the Fed's hawkish stance, despite stronger-than-expected consumer spending and income growth.
Queensland's Treasurer David Janetzki aims to prevent a credit rating downgrade despite a budget deficit and projected borrowings exceeding $200bn in three years. The budget forecasts a surplus in 2029-30, after years of deficits, boosted by higher coal royalties.
India is negotiating with the World Bank and ADB for approximately $2.5 billion in loans to fund urban infrastructure and job creation. This comes amid a wider budget gap due to increased subsidies for oil prices affected by Middle East conflict.
An RJD MP has sent a legal notice to the Ram Mandir Trust demanding details on donations and expenditures, amid allegations of financial irregularities. The Trust denies wrongdoing, while opposition leaders call for an investigation.
A CAG report reveals subsidies now form over 13.5% of expenditure in Karnataka, MP, Tamil Nadu, and Punjab. State subsidies have tripled to Rs 4.4 lakh crore in FY25, with energy and agriculture being the largest components.
Australia's Prime Minister Anthony Albanese indicated the government may extend the temporary fuel excise cut to ease motorist costs, influenced by the Middle East conflict and a new peace deal between the US and Iran. The cut, initially set to end June 30, is being re-evaluated.
Australian PM Anthony Albanese indicated openness to extending the temporary fuel excise cut, citing ongoing Middle East conflict impacts. A peace deal between the US and Iran to reopen the Strait of Hormuz was welcomed, but normal oil trade is expected to take months.
