Andy Burnham, in his first week as Prime Minister, worked from Manchester and announced £1.5bn in spending commitments, including capping bus fares and tackling rough sleeping. Funding sources vary, with some policies unfunded, raising questions about future fiscal choices.
Wes Streeting, the new UK Defence Secretary, stated that increased defence spending is a top economic priority for Andy Burnham's government, aiming for 3.5% of GDP by 2035. He emphasized clarity for the arms industry and criticized Israel's conduct in Gaza.
Paramount Skydance's £80bn bid for Warner Brothers received conditional EU approval after commitments to end a film distribution joint venture. However, the deal faces significant challenges in the US, including a court-ordered pause and a preliminary injunction hearing, as well as potential intervention in the UK.
Meta's Content Seal, an invisible watermarking tech for AI images, is criticized for its limitations, late launch, and lack of integration compared to Google's SynthID and C2PA. The system only applies to new models, has detection limits, and its broader platform support is uncertain, raising questions about Meta's commitment to AI transparency.
The world's largest meat company, JBS, faces a legal challenge in the Netherlands by Greenpeace, demanding disclosure on how its $6bn global expansion, particularly in Nigeria, is compatible with climate, nature, and human rights responsibilities. This case could set a precedent for the agriculture sector.
Oracle's credit rating was downgraded by S&P, and its credit risk is at an 18-year high due to heavy AI infrastructure spending, rising debt, and competition from low-cost Chinese AI models like Moonshot AI's Kim-3, with OpenAI's contractual obligations posing a significant risk.
US military completed ninth night of strikes against Iran after three US service members died. Iran retaliated in Syria; Kuwait and Bahrain reported attacks. Rubio warned Iran's Strait of Hormuz leverage impacts global shipping and oil prices.
The NATO Summit revealed strains in the Europe-U.S. relationship, with President Trump expressing disappointment over lack of support regarding Iran. Meanwhile, SK Hynix plans a U.S. listing and Goldman Sachs secured $70 billion in retirement asset management deals.
China made its largest daily purchase of US soybeans since November, selling 472,000 tonnes. Analysts see this as a positive signal of Beijing's commitment to trade agreements made after the Trump-Xi summit, with further good faith expected in September.
President Trump departed a NATO summit in Turkey without new commitments for the Iran conflict, expressing dissatisfaction with the alliance's lack of support and delivering mixed messages on U.S. commitment to European defense.
US President Donald Trump's recent actions, including withdrawing from a peace deal with Iran and criticizing allies like Spain and Denmark, have sparked concerns about the erosion of the post-WWII international order. Allies are reportedly contemplating strategic autonomy due to perceived unpredictability in US foreign policy.
NATO leaders and partners convene in Ankara, Turkey, July 7-8, to assess progress on defense spending commitments made at the 2025 Hague summit and discuss future objectives amid ongoing conflicts.
NATO Secretary-General Mark Rutte expressed optimism that European allies and Canada are on track to equalize defense spending with the US, ahead of a key summit in Ankara. Allies are projected to invest an additional $258 billion in defense by 2026, with European nations investing around 4% of GDP.
US Senator Tom Cotton and allies are pushing legislation to permanently embed US-Israel security cooperation within the Pentagon, bypassing traditional foreign aid processes. This effort comes as US public opinion shifts against unconditional aid to Israel, aiming to make future policy changes more difficult despite evolving strategic interests and constitutional implications.
Productivity snacking, or breaking down goals into small, manageable chunks, can boost motivation and achievement. Inspired by exercise science, this approach helps overcome procrastination and enhances self-efficacy, proving effective in learning, creativity, and daily tasks.
Ukraine has launched its largest long-range drone campaign, targeting Russian oil refineries, fuel depots, and defense industries, reaching hundreds of kilometers inside Russia. This escalation follows G7 commitments to bolster Ukraine's air defenses and economic resilience.
Ukraine has launched its largest long-range drone campaign against Russian territory, targeting oil refineries, fuel depots, and defense industries. The offensive, following G7 commitments to bolster Ukraine's defenses, aims to disrupt Russia's war effort and increase economic costs.
Iran's Parliament Speaker warned of war if the US violates a memorandum of understanding (MoU), stating negotiations won't proceed until Washington fulfills commitments. Tehran views recent Persian Gulf events as a violation and will react. Technical talks in Doha focus on MoU implementation, not political negotiations.
Labour's defence investment plan aims to boost spending but faces significant funding shortfalls, risking UK's NATO commitments. Successors will struggle to meet targets due to budget constraints and international pressures.
The US expects a report from NATO allies on their commitment to increase defense spending to 5% of GDP, according to US Permanent Representative to NATO Matthew Whitaker. The report will be presented at the upcoming NATO summit in Ankara, Turkey.
Nato's secretary general, Mark Rutte, expressed confidence that the UK's future prime minister, Andy Burnham, will uphold the alliance's long-term defence spending commitments. Rutte believes increased defence expenditure can stimulate economic growth and create jobs, aligning with Burnham's views on public procurement. The UK's new defence investment plan is expected to detail steps towards the 3.5% of GDP target by 2035.
Senator Bill Cassidy (R-LA) accuses Health Secretary Robert F. Kennedy Jr. of violating commitments made during his confirmation process, particularly regarding an anti-vaccine agenda, and discusses his tumultuous relationship with the Trump administration.
Sanam Vakil of Chatham House states Gulf states remain reliant on the US for security but are uneasy with Washington's 'regime change-light strategy,' urging them to diversify defense relationships and manage diplomatic tracks amid an 'uncomfortable moment' with uncertain US policy and unpredictable Iran.
A truce in Iran has raised hopes for resuming business, but traders and investors are hesitant. The immediate focus is clearing backlogs of orders disrupted by previous blockades, not new long-term deals.
