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• Recent Supreme Court rulings, including the case of Slaughter, have shifted the legal standing of independent institutions by upholding the "unitary executive theory." • This theory grants the U.S. President exclusive authority over the entire executive branch, effectively overruling a 1935 precedent that allowed agencies like the FTC to function as quasi-legislative and quasi-judicial bodies. • The shift matters because it undermines the independence of regulatory agencies, potentially making their leadership more susceptible to direct presidential control.

• The Dow Jones Industrial Average plummeted more than 1,100 points and long-term U.S. bond yields surged after the Federal Reserve decided to keep interest rates unchanged. • Internal division was revealed within the Federal Open Market Committee (FOMC), as three of the 12 members had preferred a quarter-point rate hike during the meeting. • Fed official Kevin Warsh suggested that while forward guidance is crucial during financial crises, the approach should be revisited during more stable economic periods.

• Federal Reserve Chair Warsh announced on Wednesday that the central bank will leave its key interest rate unchanged despite persistent inflation and rising energy prices linked to the Iran war. • Appointed by President Donald Trump, Warsh is implementing a strategy of providing fewer signals to financial markets regarding the Fed's future interest rate intentions. • This shift toward reticence is cited as a contributing factor to rising bond yields, with the 10-year Treasury yield climbing from 4.50% in mid-June to 4.64% prior to the decision.

• The Federal Reserve decided to keep interest rates unchanged, despite three members voting in favor of an increase. • New Fed Chairman Kevin M. Warsh vowed to combat persistent inflation, though he did not specify if future rate hikes would be the primary tool. • Warsh defended the central bank's current strategy, asserting that the Fed is not sitting idly and is actively managing its policy approach.

• The Federal Reserve decided to keep its key benchmark interest rate unchanged at approximately 3.6% during its meeting on Wednesday. • The rate-setting committee reached this 9-3 decision following two days of deliberations, marking the fifth consecutive meeting without a rate change. • This decision comes despite ongoing challenges with persistently high inflation and a surge in energy prices triggered by the Iran war.

Government-backed investigation finds risks are normalised amid ‘a narrowing of the public conversation’ Journalists are self-censoring their reporting on rightwing protests, Donald Trump’s administration and trans issues because of growing concerns about their personal safety, with newsrooms accused of “normalising” the risks they face.Hundreds of journalists from across the UK have anonymously disclosed increasing nervousness over their security. Some have reported avoiding or altering coverage on certain topics due to intimidation, leading to self-censorship and “a narrowing of the public conversation”. Continue reading...

• The European Central Bank (ECB) announced on Thursday that it will keep its key interest rates unchanged following its July policy meeting. • Specific rates remain at 2.4% for main refinancing operations, 2.65% for the marginal lending facility, and 2.25% for the deposit facility. • This decision aligns with market expectations as the ECB continues to manage inflation and economic stability across the eurozone.

• Students across India are currently protesting to demand comprehensive reforms to the national examination system, specifically regarding NEET. • This current unrest follows a historical pattern of 11 major protest movements that have fundamentally transformed India's public policy and democratic discourse. • A key historical example cited is the Nav Nirman movement in Gujarat, which led to Chief Minister Patel's resignation in February 1974 and the subsequent imposition of President’s Rule.

• The article examines the historical impact of landmark hunger strikes in India, ranging from the revolutionary actions of Bhagat Singh to the contemporary protests of Sonam Wangchuk. • It analyzes how these acts of self-sacrifice have been used as political tools to drive social reforms and influence national public movements. • These events are highlighted as pivotal moments that changed the course of Indian history by challenging authority and demanding systemic change.

• The Nasdaq Composite and S&P 500 rose at the start of a busy earnings week, rebounding from a previous week of declines led by technology shares. • Chip stocks drove the recovery, helping the broader market recover losses despite ongoing volatility in the tech sector. • Oil prices remained stable despite expanded fighting between the U.S. and Iran, as Iranian officials indicated they are pursuing diplomatic solutions.

• The Narendra Modi government will attempt to pass the flagship Women's Reservation Bill during the upcoming Parliament Monsoon Session starting Monday. • This effort follows a significant setback during the Budget Session earlier this year, which marked the government's first floor defeat in Parliament since 2014. • The bill is closely linked to delimitation, making it a critical legislative priority for the administration to secure gender-based representation.

• Sonam Wangchuk initiated a hunger strike to support the CJP protest, shifting the movement from online mobilization to a high-visibility national campaign. • Wangchuk's involvement provided the protest with significant moral authority, drawing widespread attention to the group's core grievances. • The movement faces a critical juncture as the government has not yet conceded to the protesters' principal demands despite the increased public pressure.

• The Nifty and Sensex indices ended the trading session largely unchanged, reflecting a mixed market sentiment driven by weak global cues. • Mid-cap stocks saw declines, with the Nifty MidCap 150 falling nearly 0.5%, led by significant drops in ITC Hotels (5.5%) and HDFC AMC (4.5%). • Market stability was noted in the rupee and India VIX, while MSCI adjustments for RBL Bank and Torrent Pharma were implemented at the close.

Royal commission into antisemitism and social cohesion hears of response of universities to incidents on campus Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe interim vice-chancellor of the University of Melbourne (UoM) says pro-Palestine sit-ins on campus led to the institution “quite sharply” changing its protest policies and that further restrictions could arise.Prof Glyn Davis appeared before the royal commission into antisemitism and social cohesion on Wednesday, which is examining the lived experiences of Jewish students and academics, including the response of universities. Continue reading...

• Stock futures remained relatively flat as investors balanced geopolitical instability in the Middle East with anticipation of the upcoming Federal Reserve meeting minutes. • Market caution increased following the U.S. launch of a "series of powerful strikes" against Iran on Tuesday evening, which subsequently impacted oil prices. • Analysis from Parker suggests that technology will be the primary driver of growth, accounting for nearly 60% of S&P 500 earnings expansion over the next two years.

• The Biden administration has focused on adapting U.S. power to navigate a dangerous global landscape, though this strategy is facing internal criticism. • Progressives, as noted by Duss in a conversation with Ezra Klein, support the shift away from neoliberal economics but oppose the administration's heavy emphasis on competing with China. • These critics argue that the U.S. should instead collaborate with China on global initiatives, such as establishing a global minimum wage.

• The Supreme Court's approach to transgender rights has shifted from the 2020 ruling authored by Justice Neil Gorsuch, which established that federal anti-discrimination laws protect transgender workers. • In the more recent case of United States v. Skrmetti involving Tennessee, Chief Justice John Roberts emphasized that debates over medical treatments for transgender individuals are complex scientific and policy issues. • This shift matters because the Court is now deferring these specific policy questions to elected representatives and the democratic process rather than establishing broad federal mandates.

• POLITICO consulted 11 historians to analyze whether Donald Trump's political influence has permanently altered the trajectory of American democracy. • The experts highlighted a critical decline in public confidence regarding the integrity of elections, the judiciary, and local government institutions. • This shift is significant because democratic stability relies on active civic engagement and the fundamental belief that citizen participation is effective.

Family search for answers on social media after their furry friend returned home with an unusual makeoverWilbur the cat is usually a rather elegant grey, black and white creature so his human family were, to say the least, a little taken aback when she arrived back home bright blue.Concern that Wilbur might have been the target of an unkind paint attack turned to relief when it turned out that she had gatecrashed a neighbour’s gender reveal party and rolled around in blue dye. Continue reading...

• The Supreme Court issued a 6-3 ideological ruling that strikes down long-standing restrictions on the amount of money political parties can spend on campaigns. • This decision fundamentally alters American campaign finance law by removing previous caps on party expenditures. • The ruling matters because it significantly increases the financial influence of political parties, potentially shifting the landscape of future elections.

Grace Riglar fights back tears giving evidenceCusack called Sheffield United omission a ‘personal attack’The girlfriend of the late Sheffield United player Maddy Cusack has told an inquest that Cusack’s former manager Jonathan Morgan called her a “psycho” and that her eating habits changed after he allegedly made a comment referencing her weight.Grace Riglar, who played for Sheffield United for one season alongside Cusack, fought back tears multiple times during an emotional and lengthy evidence session at Chesterfield coroner’s court on Tuesday. At one stage she had to take a break while being cross-examined by lawyers representing Sheffield United. Continue reading...

• New Federal Reserve Chair Kevin Warsh presided over his first FOMC meeting, where the committee unanimously decided to keep interest rates unchanged at 3.5%-3.75%. • The decision comes as inflation has reached 4.2%, prompting Warsh to issue a clear pledge to prioritize price stability over political pressure for rate cuts. • Despite inflation concerns, the U.S. economy shows strength with the S&P 500 hitting record highs, strong jobs reports, and continued investment in artificial intelligence.

• Gulf Arab nations are fundamentally reshaping their defense strategies, economies, and trade routes following three months of intense regional conflict. • The shift is driven by concerns that an emerging diplomatic deal between the U.S. and Iran may leave these countries vulnerable to Iranian influence. • To mitigate risks, these states are diversifying their security partnerships and altering long-term economic planning to reduce reliance on single-power protections.

• The Trump administration has reportedly requested that OpenAI limit the launch of its next model, GPT-5.6, to government-approved partners. • This move follows President Trump's recent decision to scrap a previous executive order that established a voluntary framework for reviewing advanced AI models. • The shift suggests a transition toward a more consistent, government-led process for evaluating the most capable AI systems before they are released to the general public.

• Following the Supreme Court's June 24, 2022, ruling in Dobbs v. Jackson Women's Health Organization, Roe v. Wade was overturned, ending the federal constitutional right to abortion. • This decision triggered the immediate implementation of a "confusing patchwork" of varying state laws, with some states banning the procedure and others protecting it. • The shift matters as it fundamentally changes healthcare access across the U.S., moving the authority to regulate or prohibit abortion from the federal government to individual states.

• UK borrowing costs experienced the fastest decline in Europe on Wednesday following news that inflation unexpectedly remained steady at 2%. • Market indicators suggest the Bank of England is unlikely to raise interest rates until November, pushing back previous expectations of a September increase. • Suren Thiru of ICAEW notes that softer May data makes an interest rate hold during Thursday's meeting highly probable.

Do the concessions undermine the original objective of helping young Australians buy their own home? NoGet our breaking news email, free app or daily news podcastThe noise, negative headlines and internet memes that have surrounded Labor’s capital gains tax changes since their budget night unveiling made a backdown feel like an inevitability.It wasn’t a question of if concessions would be offered but rather when and, most importantly, how much they might undermine the original purpose. Continue reading...

• Eurostat reports that the severe material and social deprivation rate for EU youth (aged 15-29) remained unchanged at 5.8% in 2025, matching the 2024 figure. • This rate is slightly lower than the 6.3% deprivation rate observed across the total EU population. • Significant regional disparities exist, with Romania (15.1%), Greece (14.7%), and Bulgaria (14.0%) recording the highest shares of deprived youth.