Ends

• The Sensex and Nifty indices declined from their daily highs, with the Nifty ending the session below the 24,650 mark. • The market downturn was triggered by Donald Trump's warning of a "very strong strike" if the Strait of Hormuz is not reopened promptly. • This geopolitical tension created volatility, erasing early gains as investors reacted to potential instability in a critical global shipping lane.

• The Indian stock market ended higher on August 5, with the Sensex rising 152 points and the Nifty 50 closing above 24,620. • Gains were driven by the Reserve Bank of India's (RBI) decision to keep the repo rate unchanged, alongside an improved FY27 growth outlook and lowered inflation projections. • Strong performance in the auto, realty, and metal sectors helped offset market concerns regarding geopolitical tensions and rising crude oil prices.

• The S&P 500 (SPX) extended its current rally to reach a new record high of 7,758. • Market analyst Scott Redler noted that equities are maintaining a constructive stance, signaling continued strength in the upward trend. • This milestone reflects strong investor confidence and positive momentum within the broader equity markets.

• Thailand is nearing removal from the U.S. Treasury's currency monitoring list, a move expected to reduce trade tensions and increase economic flexibility. • In sports, the national volleyball team secured the SEA V Cup title by defeating host nation Vietnam in straight sets. • The Thai football team has seized control of Group B in the ASEAN Championship following a victory over Malaysia.

• The Indian stock market ended the session in the green, with the Sensex closing 150 points higher while the Nifty50 remained flat. • Investors balanced market mechanics against expectations for the Reserve Bank of India's upcoming policy decisions, while monitoring crude oil prices and the rupee. • Analysts noted that recent fluctuations are likely due to adjustments in the revised settlement framework rather than a decline in economic fundamentals.

Lahore police official says all personnel were responsible for preventing and reporting wrongdoing at stationThe alleged rape of a 20-year-old woman with intellectual disabilities in a police station in Lahore, Pakistan has prompted authorities to suspend all 78 police officers and staff at the precinct, in one of the country’s biggest-ever disciplinary actions against its police force.The woman alleges that an assistant sub-inspector apprehended her, took her to Ghaziabad police station, and raped her in a room on the second floor. The woman’s family said she disappeared on the street, before returning home in tears and stating that she had been sexually assaulted at the station. Continue reading...

• In August 2026, the startup landscape is being shaped by a surge in AI integration, embedded finance, and revenue-first growth strategies. • AI startups are gaining significant traction by automating repetitive tasks and enabling smaller teams to develop complex software products. • High interest is specifically concentrated in sectors including cybersecurity, healthcare, business software, developer tools, and data services.

Tory leader praises Joshua Bonehill-Paine’s ‘contrition’ but says she has higher thresholds for MP candidatesKemi Badenoch has defended her party’s decision to allow a former neo-Nazi who was jailed for subjecting a prominent Labour politician to antisemitic abuse to stand as a councillor.Badenoch said her party was not giving Joshua Bonehill-Paine, who is standing for election in Somerset, a “national platform”. Continue reading...

Jake Richard acknowledges ‘unimaginable pain’ of Harper’s family but says government faces an ‘unenviable position’Good morning and welcome to the UK politics blog.Ministers continue to defend the release of PC Andrew Harper’s killers as part of the government’s early prisoner release scheme, despite a potential legal challenge from the Police Federation.Well, look, we understand that people are angry. The Harper family are, of course, angry. The police are angry too.We’re angry that we’re in this situation where we face the unenviable position of having to make sure that we have a sustainable prison system, which is so vital to a functioning law and order system in our country, but also that we do right by victims as far as possible.Because without a functioning prison system, it means it’s difficult for police to make arrests, it’s difficult for our courts to try cases, and it could mean to the collapse of law and order in this country.We cannot be in that situation, so that is the challenge that we face as government ministers and the prime minister faces ultimately.I feel sick to my stomach, if I’m really honest with you. I’ve had a gut wrenching feeling in my stomach the past couple of weeks with this, and it doesn’t go away.And arguably, I would say that many of my members across Thames Valley also have this gut wrenching feeling, even at the prospect of these two killers being released in the space of weeks, potentially.Ministers will scrap the requirement for companies to prove their green and progressive values before they are awarded government contracts, and instead ask firms to prove they will help young people back into work.Women should not feel pressurised into experiencing an “ideal birth”, the new health secretary, Yvette Cooper, has said, promising a root-and-branch reform of standards after several damning maternity scandals.An official investigation has been launched into charities in England and Wales donating funds to illegal Israeli settlements in Palestine.Andy Burnham has inherited a Labour membership that is sceptical about increased welfare spending, supportive of higher defence spending, and ranks the climate crisis as one of the country’s biggest challenges, according to new polling.BP’s chief executive has urged Andy Burnham to make use of the UK’s oil and gas resources even as the oil company prepares to sell its North Sea business after 60 years in the ageing basin.The Conservative party leader, Kemi Badenoch, has defended the selection of a former neo-Nazi activist as a candidate for a local election in Somerset despite him being jailed in 2016 after he was convicted of racially aggravated harassment of the former Labour MP Luciana Berger.Pupils in Scotland’s schools received their exam results this morning, with exam pass rates at all levels having risen this year, including a record number of National 5 passes. Continue reading...

• The BSE Sensex fell 210 points and the NSE Nifty dropped 159 points on Tuesday, ending a four-session winning streak for Indian benchmark equity indices. • The decline occurred as investors reacted to new market implementations and shifted their positions following a period of consistent gains. • This downturn signals a potential shift in investor sentiment and a pause in the recent bullish momentum of the domestic stock market.

• The U.S. Department of Justice (DOJ) has deployed monitors to polling sites in Michigan to oversee the election process. • While FBI poll monitoring is a standard practice, U.S. lawmakers are raising alarms that the move could be politically motivated. • The controversy stems from former President Donald Trump's persistent, unsubstantiated claims of widespread election fraud in previous cycles.

• The U.S. Justice Department deployed election monitors to four Michigan cities on Tuesday to oversee a critical primary election. • The primary is essential for determining the November candidates for an open U.S. Senate seat, which is expected to be one of the most competitive races of the 2026 midterms. • This move ensures federal oversight of voting processes to maintain integrity and accessibility during a high-stakes electoral cycle.

• Italy has suspended free movement and border-free travel with Spain following a deadly crossing incident in Ceuta. • Analysts suggest the decision is driven by political motivations rather than practical security needs. • The move raises critical questions about the stability of the Schengen Area and whether the zone of free movement is currently in crisis.

• Spain successfully returned approximately 70,000 of the 72,000 migrants who illegally entered Ceuta last week back to Morocco. • Spanish Interior Minister Juan Ignacio Grande-Marlaska defended the operation, stating that the Schengen zone remained secure despite criticism from some European governments. • EU officials, including Danish Immigration Minister Morten Bødskov, commended Spain's "swift response" while emphasizing the critical need for stricter EU border controls.

• Ariana Grande has announced she will "step back from visibility" following the conclusion of her Eternal Sunshine tour to distance herself from ongoing public scrutiny. • As part of this hiatus, the three-time Grammy winner is dropping out of the musical production "Sunday in the Park With George." • This decision follows a period of high professional success, including her role as Glinda in the 2024 "Wicked" movie, which earned her an Academy Award nomination for best supporting actress.

• Spanish Prime Minister Pedro Sanchez is facing intense criticism from EU leaders following a surge of migrants arriving in Ceuta, a Spanish territory in North Africa. • Sanchez defended his migration policies by citing Spain's previous solidarity, specifically noting the intake of migrants from Belarus in 2021 and those arriving at Lampedusa in 2023. • The tension highlights a broader political shift as right-wing parties across the EU gain power by promising stricter crackdowns on migration.

Energy company’s $5.73bn quarterly profits come after Shell posted second highest quarterly earnings on recordBusiness live – latest updatesBP has reported its highest quarterly profits since the first year of Russia’s war on Ukraine because of rising oil and gas prices caused by the Middle East crisis.The oil company’s quarterly profits more than doubled to $5.73bn (£4.27bn) in the three months to the end of June, up $2.5bn from the quarter before, as the ongoing conflict in the Middle East continued to disrupt energy exports from the Gulf. Continue reading...

• The Australian Securities Exchange (ASX) extended its gains following a positive rally on Wall Street. • Economist Louise Southall from Xero noted surprising Australian Bureau of Statistics (ABS) data showing discretionary spending grew at a faster rate than spending on essential items. • The market activity coincides with a drop in global oil prices, contributing to the shifting financial landscape.

• The House Ethics Committee has recommended the censure of Representative Chuck Edwards following an investigation into "inappropriate conduct" toward female staffers. • The panel found that Edwards sent staffers "lavish" gifts, invited them to intimate vacations and dinners, and wrote notes expressing "effusive affection." • This recommendation marks a significant disciplinary step, as censure is a formal public condemnation by the House of Representatives for misconduct.

Republican congressman was investigated for untoward and inappropriate advances toward two female staffersThe US House of Representatives ethics committee on Monday recommended that Chuck Edwards, a Republican congressman, face censure after determining he “fostered a hostile work environment and engaged in sexual harassment” by giving gifts and lavishing attention on two young female staffers.The bipartisan panel began investigating the second-term North Carolina congressman earlier this year, after receiving complaints about his conduct. In their report, they determined Edwards broke House rules by singling out the two unidentified aides for special treatment that made them uncomfortable and harmed relations with other employees. Continue reading...

• Major tech giants Apple (AAPL), Microsoft (MSFT), and Amazon (AMZN) experienced a combined $1.3 trillion in market capitalization swings within a 48-hour window. • The volatility is attributed more to "situational awareness portfolio management" following sales rather than the companies' actual earnings reports. • This trend highlights the extreme sensitivity of the current market to AI-driven trades and rapid shifts in investor positioning.

• US stocks are expected to open firmer following President Trump's announcement over the weekend that he cancelled planned strikes on Iran. • The decision to halt military action came at the request of Tehran and other Middle East nations, contingent upon the rapid negotiation of a deal. • Brent crude oil prices dropped by 4.7% as geopolitical tensions eased, while the Japanese Yen extended gains amid threats of market intervention.

• European tech funding saw over 50 deals totaling more than €878 million, alongside 10 exits and M&A transactions during the past week. • Notable investments include Spain's Ratio receiving €400,000 to launch a Claude connector for real estate, Tripjoin securing €300,000, and Feending closing a €200,000 round. • Other key activity involved Italy's Solomei AI receiving investment from Salesforce and Denmark's Bikekey securing funding from TÖNNJES.

• Asian stock markets tumbled, with the KOSPI extending losses and the Shanghai Shenzhen CSI 300 and Shanghai Composite falling 0.6% and 0.5% respectively. • AI-related shares dragged down regional markets, though Hong Kong's Hang Seng rose 0.1% as Alibaba surged over 5% following the launch of a new flagship AI model. • Energy producers faced pressure from falling crude prices after President Donald Trump announced that negotiations regarding the Strait of Hormuz would begin on Monday.

• A resident of Neelum Valley, identified as Raja Ehsan, was killed by security forces during firing at protesters in Athmuqam Tehsil. • The incident occurred as the second phase of the disputed legislative assembly polls concluded amid widespread unrest and heightened regional tension. • This violence underscores the volatility surrounding the electoral process in PoJK, where security interventions have led to fatal clashes.

• A surge of new personal consumer electronics, smart home appliances, and electronic toys has recently entered regional markets across Asia. • In Malaysia, local hardware developers have launched new smart home management hubs priced at $120. • These breakthroughs in Southeast Asian hubs and East Asian mobile displays reflect a pragmatic, consumer-first approach that is establishing new global technology standards.

Fuel excise cut, which was imposed after outbreak of Iran conflict, ended at midnight on Monday. Follow today’s news liveLinkedIn dragged into news bargaining incentive legislation, despite lobbying from MicrosoftThe government has released new details of its news bargaining incentive legislation, with LinkedIn no longer exempt from the agreement – which will force platforms to pay for news content.We want digital platforms to do deals with a diverse range of media organisations and have shown good faith with both the platforms and media companies during the consultation process. Continue reading...

• Italy has suspended the EU Schengen free-travel pact with Spain, reinstating passport requirements for travelers moving between the two nations. • The decision follows a migrant crisis in Ceuta, though critics argue there is no evidence that the migrants involved intended to travel to Italy. • Opponents of Prime Minister Giorgia Meloni’s right-wing government claim the move is a symbolic gesture designed to appeal to a domestic political audience.