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• The Federal Reserve's rate-setting committee decided to keep its key interest rate unchanged during its most recent meeting. • Officials remain deeply divided on the future of U.S. inflation, debating whether it will stay elevated or cool down following the conclusion of the Iran war. • New data from the Federal Reserve Bank of New York shows consumer inflation expectations for one year ahead rose to 3.7%, the highest level in nearly three years.

• Major technology stocks are experiencing a deepening selloff, though the S&P 500 remains up approximately 73% year-to-date. • The current market volatility is characterized as a "round-trip" of gains from the past month rather than a full-scale market crash. • Investors are questioning whether upcoming AI-related earnings reports can justify the sky-high valuations and expectations currently priced into the sector.

• China is currently reviewing new restrictions on overseas access to its artificial intelligence models while accelerating the development of domestic inference semiconductors. • This shift threatens the current strategy of international firms, particularly Korean companies, who have relied on utilizing inexpensive Chinese AI services. • The move signals a strategic pivot toward technological sovereignty and tighter control over AI exports to protect national interests.

• US lawmakers are considering new restrictions to limit the adoption of Chinese-developed artificial intelligence models by American companies. • The House Committee on Homeland Security and the Select Committee on China launched a joint investigation in April to assess the risks of this tech integration. • As part of the probe, legislators have contacted firms such as Airbnb and Cursor to determine their level of exposure to Chinese-built AI systems.

• Asian stock markets declined as a deepening selloff in AI chips pressured regional indices, pushing South Korea's KOSPI close to a bear market. • While Chinese equities remained largely flat, Hong Kong’s Hang Seng and Singapore’s FTSE Straits Times bucked the trend, rising nearly 3% and 1% respectively. • Inflation data from Thailand, Taiwan, and the Philippines showed easing headline pressures, though firmer core inflation in the Philippines suggests a potential 25-basis-point rate hike on August 27.

• Chinese AI startup DeepSeek is developing its own proprietary AI chips to power its artificial intelligence systems, according to a report by Reuters. • The move comes as the company seeks to reduce reliance on external hardware providers to sustain its computational needs. • This development is significant as China faces ongoing U.S. export restrictions on high-end semiconductors, such as those from Nvidia.

• Chinese AI firm DeepSeek is developing its own proprietary AI chip specifically designed for inference, the process where trained models generate user responses. • This hardware push aligns with a major shift in financial strategy, as the company is seeking $7 billion in its first-ever outside funding round. • The upcoming investment round could value DeepSeek between $52 billion and $59 billion, marking a reversal of its previous policy of rejecting external capital.

Labour party chair says Reform UK leader must cooperate with authorities instead of trying to distract public with byelection• UK politics live – latest updatesThe revelation that a £5m gift to Nigel Farage by a cryptocurrency billionaire was reported to the National Crime Agency by bankers concerned it may have been laundered money, has been described as “astonishing and deeply serious”.Responding to the Guardian story, Anna Turley, the chair of the Labour party, also called on Farage to “come clean and cooperate” with the NCA. Continue reading...

• Chinese AI company DeepSeek is reportedly developing its own proprietary AI chips to reduce reliance on external hardware. • This move represents a major strategic shift for the firm, which is currently regarded as China's leading AI champion. • The development is critical as China faces ongoing U.S. export restrictions on high-end semiconductors, such as those from Nvidia.

• Chinese AI startup DeepSeek is developing its own proprietary AI chip specifically designed for AI inference, according to a Reuters report. • The initiative aims to reduce the company's strategic dependence on hardware provided by industry giants Nvidia and Huawei. • This move is significant as it highlights China's broader push for semiconductor self-sufficiency amidst ongoing global trade restrictions and chip shortages.

• Chinese AI firm DeepSeek is reportedly developing its own proprietary AI chips to reduce reliance on external hardware. • This move coincides with a shift in financial strategy, as the company is seeking its first outside capital through a funding round. • According to Reuters, DeepSeek aims to raise $7 billion, which would value the company between $52 billion and $59 billion.

• Chinese AI startup DeepSeek is reportedly developing its own proprietary AI chips, evidenced by a recent surge in the hiring of chip-design engineers. • The company is shifting its financial strategy by seeking a maiden funding round of US$7 billion, which could value the firm between US$52 billion and US$59 billion. • This move marks a significant departure from DeepSeek's yearslong policy of rejecting external investment to maintain independence.

• Chinese AI firm DeepSeek is reportedly developing its own proprietary AI chips to reduce reliance on external hardware. • This move follows the company's global success with two highly efficient AI models that gained significant attention in Silicon Valley and Washington. • To fund this expansion, DeepSeek is shifting its strategy to accept external capital, with a maiden funding round aiming to raise $7 billion.

• Netflix has entered a licensing agreement with major publishers, including Penske Media (Variety, THR, Vanity Fair), Condé Nast, Hearst Magazines, BuzzFeed Studios, People Inc., and Tastemade. • The deal brings a curated selection of video content focused on entertainment, lifestyle, food, travel, and celebrity news to the streaming platform. • This strategic move aims to "deepen fandom" by diversifying Netflix's content lineup with high-quality short-form and specialized programming.

Experts say the critical reservoir system is careening toward a breaking point as the US west’s climate warms and driesLake Powell, US’s second-largest reservoir, threatens to plunge to unprecedentedly low levels this year after a historically bleak snowpack failed to raise its water level, scientists and water experts have said, adding renewed urgency to stalled talks over how to conserve a water source depended on by tens of millions of people in the US south-west.The 185-mile Colorado River reservoir currently stands at about 23% of its capacity, or roughly 5.6m acre-feet. Lake Powell fell below that level for a few months three years ago. But those 2023 levels were recorded in the winter, when the reservoir straddling the Utah-Arizona border hits its lowest ebb. Spring runoff carried the level back up to 9.6m acre-feet by June, according to data from the US Bureau of Reclamation. Continue reading...

Mernda school community in mourning after Nathan Fitzgerald, 27, dies in hospital Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastA Melbourne teacher who died following a horror head clash during an Australian football game has been remembered for the profound impact he left on his school community.Nathan Fitzgerald, 27, was taken to the Royal Melbourne hospital after he fell to the ground and hit his head on a covered cricket pitch during an Australian rules football game in Lalor in Melbourne’s north on Saturday. Continue reading...

• England defeated Mexico 3-2 in a World Cup classic to advance to the quarterfinals, where they are scheduled to face Norway. • Jude Bellingham scored twice and Harry Kane added a penalty to secure the win, while Raúl Jiménez scored for Mexico following a VAR-awarded penalty. • The match became a tense battle after England's Jarell Quansah received a red card, forcing the Three Lions to defend a slim lead for the final 30 minutes.

• Readers are discussing the importance of an outward-looking mentality for Japan, contrasting its historical openness during the Tang China era with current trends. • The Open Doors 2025 Report highlights a significant decline in global engagement, noting that only 13,814 Japanese students studied in the U.S. for 2024–2025. • This figure is starkly lower than those of other Asian nations, including India (363,019), China (265,919), and South Korea (42,293).

• Analysis suggests that current American partisan and regional divisions are among the most intense the nation has faced since the Civil War. • Author Levin argues that Donald Trump has intentionally fueled these divisions, though the core issue is the inability of either party to secure a lasting political advantage. • This political stalemate has effectively resulted in two "minority parties" dominating the landscape since the 2000 election.

• Factions within the Iranian regime are intensifying internal infighting, signaling a structural crisis and a system in irreversible decline. • The struggle is driven by growing public unrest, political paralysis, and mounting uncertainty regarding diplomacy, war, and future succession. • This instability undermines the traditional power balance where the Supreme Leader acted as the final arbiter to contain factional conflicts.

• Urumqi, the capital of the Xinjiang Uygur autonomous region, hosted the ninth China-Eurasia Expo from June 25 to June 29. • The event reached a record scale, featuring participation from 49 countries, regions, and international organizations, with 27 entities establishing dedicated pavilions. • Notable debuts included standalone exhibitions from the United Arab Emirates, South Korea, Russia, and Thailand, signaling an expansion of the expo's international "friend circle."

• Major Asian indices, including South Korea's KOSPI and Japan's Nikkei, declined as a global selloff in AI-related semiconductor chips intensified. • In contrast, Indonesia’s Jakarta Stock Exchange Composite Index climbed 1.8% and Nifty 50 Futures rose 0.4%, reflecting a mixed regional performance. • Positive economic indicators provided a buffer, with factory surveys showing resilient manufacturing activity across China, Japan, and Southeast Asia.

• Japanese Prime Minister Sanae Takaichi and Indian Prime Minister Narendra Modi met in New Delhi to strengthen economic and strategic ties. • The two leaders agreed to deepen cooperation across critical sectors, specifically focusing on energy, technology, and defense. • This partnership is strategically designed to reduce both nations' economic reliance on China and enhance regional security.

• Indian Prime Minister Narendra Modi and Japanese representative Takaichi are holding summit talks today to strengthen bilateral cooperation. • The discussions will focus on deepening strategic ties across critical sectors, specifically trade, investment, defence, and technology. • This summit matters as it allows both nations to review and enhance their economic and security partnerships in an evolving geopolitical landscape.

• The July 2026 DeepTech in Europe report identifies emerging trends in funding, talent acquisition, and the growth of regional innovation hubs. • While France, Germany, and the UK remain the dominant players, second-tier hubs in the Netherlands, Switzerland, Spain, and the Nordics are showing significant growth. • A critical challenge persists as late-stage funding remains overly dependent on non-European capital, highlighting a gap in domestic scaling capabilities.

• Asian markets traded lower on Thursday, with South Korea's Kospi and Japan's Nikkei 225 both experiencing declines. • The downturn was primarily driven by a deepening global selloff in technology and chip stocks following a weak trading session on Wall Street. • Investor sentiment was further impacted by softer oil prices, which indicated a reduction in global supply concerns.

• Professor C. Raj Kumar, Founding Vice Chancellor of O.P. Jindal Global University (JGU), and MP Dr. Shashi Tharoor addressed the Japanese parliament. • The event took place on the eve of Japanese Prime Minister Sanae Takaichi's official visit to India to strengthen bilateral relations. • This engagement serves to deepen academic and diplomatic ties between India and Japan, highlighting the role of higher education in international cooperation.

• The CDC's malaria testing branch faced severe budget or operational cuts in spring 2026, surpassing the reductions seen in the rabies lab. • These cuts threaten the ability to identify specific malaria species, which is critical for determining the correct medical treatment for patients. • Separately, a June 2026 trial indicated that daily probiotics may enhance antidepressant efficacy in seniors, while two other trials showed Paxlovid does not significantly reduce hospitalizations for vaccinated high-risk adults.