The US-Iran conflict has escalated with renewed strikes, effectively ending a June truce. Experts warn of a potential "forever war" focused on the Strait of Hormuz, as diplomatic efforts falter and both sides prioritize pressure over compromise, threatening global oil and gas supplies.
Federal prosecutors charged 12 individuals in an alleged cargo theft conspiracy that diverted over $2 million worth of Nike shoes from the company's Memphis logistics center between July 2021 and June 2024. Nike employees allegedly used unauthorized UPS labels to redirect shipments to resellers.
Oil prices surged to $100 per barrel following renewed US and Iranian attacks in the Gulf and Houthi rebel strikes on Saudi oil tankers in the Red Sea. This escalation threatens key shipping routes like Bab el-Mandeb, potentially doubling the blow to global energy markets after the Strait of Hormuz crisis and leading to higher consumer fuel costs worldwide.
Insurance costs for ships crossing the Strait of Hormuz and Bab al-Mandeb have risen sharply as war-related disruption reduces traffic and raises attack risk. S&P Global says premiums in Hormuz have climbed to 7.5%-10% of hull value.
Shanghai, home to the world's largest container port, has released a five-year plan to enhance its shipping services sector, leveraging AI and automation. The strategy aims to expand value-added industries like financing, insurance, and legal services, intensifying competition with hubs such as Hong Kong, Singapore, and London.
China's durian imports increased by 47% year-on-year in the first half of 2026, reaching 1.07 million tonnes, as Southeast Asian exporters, particularly Thailand, Malaysia, and Vietnam, offloaded a fruit glut that led to a price drop.
Centenarian performance artist Ken Turner, ahead of a new exhibition in Penzance, reflects on his rebellious life and career. He discusses his journey from creating immersive inflatable sculptures in the 1960s to driving a tank over a Tesla last year, consistently challenging art conventions and the establishment with socially conscious work.
EU countries reached a deal on their 12th sanctions package against Russia, resolving a dispute over Russian gas shipments to third countries with a limited exemption for existing contracts. The bloc also agreed to freeze its price cap on Russian crude oil for 12 months.
US President Trump threatened to bomb Iranian infrastructure if attacks on Red Sea shipping continue, escalating tensions. This coincides with Houthi rebel attacks in the Red Sea and mixed Q2 earnings from major tech firms like Alphabet, Tesla, and IBM.
Russian Foreign Ministry Spokeswoman Maria Zakharova stated that escalating tensions in the Persian Gulf, marked by exchanges of strikes, pose a risk of shipping disruptions in the Strait of Hormuz and the Red Sea, complicating regional mediation efforts.
The EU is reportedly preparing to allow Greek shipping company Dynagas to continue transporting Russian LNG to third countries for 12 months, capping volumes at 2025 levels, as part of its 21st sanctions package, following opposition from Greece and other member states seeking exemptions.
Iran's IRGC representative Hossein Mohebi warned shipping companies that the southern routes through the Strait of Hormuz are mined, advising against passage due to the ongoing escalation in the US-Iranian conflict that began on July 8.
Global trade surged 12.5% to $13.7 trillion in H1 2026, with services up 10.5%, UNCTAD reported. This growth largely reflects higher prices due to shipping disruptions in the Strait of Hormuz and fuel supply chain concerns, rather than increased trade volumes.
US President Donald Trump threatened to destroy Iranian infrastructure, including bridges or power plants in or near Tehran, for any attack on ships in the Strait of Hormuz, amid escalating US strikes on Iran and the strait's closure impacting global oil trade.
Oil prices surged after President Trump threatened to bomb Iranian sites if ships in Hormuz are targeted, while Secretary of State Rubio stated Iran is not serious about a diplomatic resolution to the escalating conflict.
Iran warns of 'eye for an eye' retaliation against US threats to target infrastructure, as MAGA support for Trump's Iran war drops to 37%. Regional tensions escalate with Houthi threats in the Red Sea and Israeli spy chief's visit to Washington.
Greece faces new challenges balancing support for Ukraine with protecting its economy, encountering EU sanctions hurdles over Russian LNG shipping and security concerns after a Ukrainian drone incident. The country is providing aid and reconstruction support but remains cautious due to potential Russian hybrid warfare.
US President Donald Trump threatened to destroy an Iranian bridge or power plant for every attack on a vessel in the Strait of Hormuz, escalating Washington's response after 11 nights of US airstrikes on Iran.
A US Navy-led maritime security group warned that Iran-backed Houthis in Yemen have completed preparations to attack Red Sea shipping, particularly near Bab el-Mandeb. The EU naval mission advised vessels linked to Israeli, US, or Saudi interests to avoid the area, while Iran has also increased attacks on tankers in the Strait of Hormuz.
British sculptor Ray Exworth, who died in 2015, created a vast, unseen body of work over six decades, hidden in sheds on his Cornish smallholding. Photographer Jem Southam's new book, "Ray's Sheds," offers the first public access to these intricate, salvaged-material sculptures, aiming to establish Exworth's legacy in 20th-century British art.
Norway's state oil company Equinor reported nearly doubled profits of $11.5bn in Q2, exceeding predictions, driven by increased oil and gas production and soaring prices due to the war against Iran and a blockade in the Strait of Hormuz.
Japan is developing a project to map alternative shipping routes around Malaysian states, providing data on depths and hazards, to avoid the Strait of Malacca due to rising geopolitical tensions. This initiative aims to secure Japan's crucial trade, especially energy imports from Gulf states, following US attacks on Iran.
O diretor e roteirista Ricardo Spencer foi encontrado morto em seu apartamento em São Paulo na segunda-feira. A família, que acredita em morte por causas naturais, agradeceu as homenagens e destacou a paixão do artista pela arte. Colegas o encontraram após ele faltar a uma reunião.
Google faces delays with its Gemini 3.5 AI model, impacting its market position, while Chinese startup Moonshot releases a free, open-weight model, intensifying US-China AI competition. Simultaneously, Silicon Valley workers are taking collective action, including lawsuits and petitions, to protect their jobs from AI automation amidst the industry boom.
