Up to 150 WH Smith high street stores will close after the high court approved a significant restructure. The plan, which involves debt write-offs and rent cuts, aims to make TG Jones (formerly WH Smith) a more sustainable business, though it faced criticism for its speed and valuation.
Chipmakers like Micron and Intel saw their market caps triple in Q2 as investors diversified AI portfolios beyond Nvidia. This shift reflects a broader investment in semiconductor enablers and AI infrastructure.
AI demand is causing price increases in the semiconductor supply chain, extending beyond GPUs and memory chips to upstream materials and manufacturing inputs, creating new bottlenecks for global AI infrastructure. Japan's Murata Manufacturing will raise prices for AI server components by 10-40% from July.
Hong Kong's two major electricity suppliers will provide HK$80-90 million in rebates to eligible households between August and October. This initiative aims to ease financial pressure on residents due to increased energy prices, attributed to the US-Israel war on Iran.
Customer debt to energy suppliers in England, Wales, and Scotland has hit a new record of £4.79 billion, a 15% increase year-on-year, according to regulator Ofgem. Average arrears for those without repayment plans are significantly higher, as energy prices are set to rise again in July.
Chinese chip suppliers, including Huawei and Cambricon, along with domestic tech giants, are projected to capture nearly 80% of China's AI server market this year, further eroding the position of global rivals like Nvidia due to geopolitical tensions and Beijing's push for self-reliance.
TG Jones (formerly WH Smith) plans to restructure, leaving small suppliers, including Help for Heroes charity, with less than half of owed money, while 'exit contract' suppliers may see debts wiped out, with potential long-term profit shares.
The UAE is reportedly in preliminary discussions with India to acquire BrahMos supersonic cruise missiles and the Akashteer air-defence system. This move aligns with the UAE's strategy to diversify its military suppliers beyond Western partners and enhance its offensive and defensive capabilities amid regional threats.
India's US LPG imports are projected to exceed 1 million tonnes in June, a record high, due to Middle Eastern supply disruptions. This shift increases costs but ensures cooking fuel availability for households.
A U.S. official stated that China's new sanctions on American firms validate the assessment of Chinese suppliers being unreliable, defending Pentagon procurement restrictions aimed at securing U.S. military supply chains.
The European Commission plans to phase out Chinese-made power inverters in EU-funded energy projects due to cybersecurity concerns. However, EU officials and financial institutions worry about supply shortages, increased costs, and project delays, as European producers may not meet demand.
Two major Chinese MLCC suppliers, Chaozhou Three-Circle and Jiangsu Boqian New Materials, are pursuing Hong Kong listings to capitalize on surging global demand for MLCCs driven by AI infrastructure growth.
Ukrainian President Zelenskyy gave Belarus one week to remove Russian military equipment used in attacks on Ukraine, threatening to do so himself. He also highlighted Belarus's role in supplying Russia's oil refining industry and the Russian army. Meanwhile, EU leaders discussed diplomatic channels with Russia, and Poland's president threatened to revoke an honor for Zelenskyy over renaming a military unit.
G7 leaders agreed to boost cooperation on critical minerals, aiming to reduce dependence on China. Plans include coordinated stockpiling, increased recycling, and a new platform with IEA support to secure supplies for defense, AI, EVs, and renewables.
The Russia-Ukraine war, now exceeding WWI's duration, is fundamentally altering global order. It has triggered NATO expansion, a new arms race in Europe, and revolutionized drone warfare. Russia faces dependency on China, while North Korea and Iran benefit as arms suppliers. The conflict offers lessons for China, challenges India's balancing act, and highlights limits of US diplomatic efforts.
Huawei is considering deploying its new Ascend AI chips in its cloud and AI services across Latin America, according to Mark Chen, president of Huawei Cloud Latin America. This move could increase Chinese hardware presence in a region traditionally served by US suppliers.
Indian refiners have secured sufficient crude oil and LPG supplies to last through August and mid-July, respectively, by increasing purchases from suppliers like ADNOC and through spot tenders, amid ongoing Middle East energy supply disruptions.
President Vladimir Putin states Russia continues to supply uranium to the US market, highlighting the economic benefit despite political tensions.
EU Trade Chief Maroš Šefčovič calls for a 'diversification instrument' to reduce EU industry's dependency on single sources for critical supplies like chips and rare earths, citing the Energy Union model and upcoming discussions with China.
Prime Minister Mark Carney launched Canada's AI strategy, warning of risks from slow adoption and foreign influence. The plan aims to boost domestic capacity, reduce reliance on US tech giants, and improve AI literacy and business adoption.
Russian large companies are increasingly sourcing software, tech products, and components from SMEs, a trend discussed at SPIEF 2026. This shift aims to boost the SME sector's contribution to GDP, which lags behind its employment share.
Russian large companies are increasingly sourcing software, tech products, and components from SMEs, a trend discussed at SPIEF 2026. This shift aims to boost the SME sector's contribution to GDP, which is currently around 20%, significantly lower than in the US.
The EU is proposing new rules to ensure no foreign government or company has a 'kill switch' over vital tech services, aiming to reduce dependencies on the US and China in cloud computing, AI, and semiconductors. The move could increase tensions with the US.
The EU is proposing "technological sovereignty" measures to reduce reliance on US and Chinese tech suppliers in cloud computing, AI, and semiconductors. The plan aims to prevent foreign governments from accessing "kill switches" for vital services and requires risk assessments for foreign providers.
