Exchange

• The ASEAN Film Festival is currently showcasing a diverse selection of cinematic works from across Southeast Asia to audiences in Hong Kong. • The event features directors such as Jill Leung Lai-yin (Hong Kong), Adnan Al Rajeev (Bangladesh), Whammy Alcazaren (Philippines), and Ananth Subramaniam (Malaysia). • By highlighting regional beauty and cultural identity, the festival aims to foster cross-regional appreciation and cultural exchange, particularly among younger viewers.

• US groups have spent over $14 billion acquiring European asset managers this year, marking the highest level of investment since records began in 1995. • According to Dealogic data, these acquisitions are driven by a need for greater scale and expanded capabilities to combat shrinking margins. • The trend is fueled by increasing regulatory costs, fee pressures, and evolving client demands for more diverse investment options.

• Hong Kong Exchanges and Clearing (HKEX) reported record first-half 2026 results, with profits increasing 24% to HK$10.6 billion. • Growth was primarily driven by record trading volumes and a surge in IPO activity, specifically among technology and AI-focused companies. • A total of 87 listings were completed during this period, successfully raising HK$212.4 billion in capital.

PM was in contact with unknown person pretending to be senior White House aide Susie Wiles, it is understoodAndy Burnham exchanged messages with someone impersonating Donald Trump’s chief of staff, the Guardian understands.The prime minister was in contact with an unknown individual pretending to be the senior White House aide Susie Wiles before concerns were raised about the incident. No messages of significance were sent and the suspicious activity was quickly reported to the appropriate authorities, it is understood. Continue reading...

• The S&P 500 and Nasdaq finished higher on August 12th after the New York Stock Exchange reacted to new inflation data. • Market gains were driven by the July Consumer Price Index (CPI) report, which confirmed a slowdown in inflation. • This cooling of price increases is critical as investors look for signals that the Federal Reserve may shift its monetary policy.

• The London Stock Exchange (LSE) has reported a significant increase in trading volumes driven by strong corporate quarterly earnings. • Positive investor sentiment and favorable economic indicators are fueling cautious optimism across multiple market sectors. • A growing pipeline of upcoming IPOs from various industries suggests sustained momentum and broader market activity.

• Pakistan has requested a $10 billion exchange stabilisation facility from the United States to bolster its foreign exchange reserves and support the rupee. • The move follows a period of IMF-backed reforms that stabilized the economy but imposed high political costs through increased taxes and spending restraints. • Fitch Ratings noted in April that these reforms and rebuilt buffers have improved Pakistan's funding capacity and provided a cushion against shocks from Middle East conflicts.

• Pakistan has reportedly requested a $10 billion exchange stabilisation facility from the United States to bolster its dwindling foreign exchange reserves. • Finance Minister Muhammad Aurangzeb discussed the request and Pakistan's economic vulnerabilities during a meeting with US Treasury Secretary Scott Bessent in Washington on Tuesday. • The facility is intended to ease severe pressure on the national economy and provide a critical financial buffer against regional geopolitical instability.

In Brussels EU ambassadors will be trying to work out the details of the 21st sanctions package for RussiaEuropean Commission president Ursula von der Leyen is in Kyiv today with plans to announce “new initiatives to integrate our defence industries,” a day after both European and Ukrainian armies were involved in the Bastille Day parade in Paris.“It’s a special moment. Ukraine has built a strong military momentum. The tide is turning,” she said. Continue reading...

Tehran says latest US attacks have ‘rendered futile’ diplomatic efforts of last few months. Plus, hit song in Australia prompts speculation about use of AIGood morning.The US military has launched a fresh wave of attacks against Iran amid the escalating standoff over the strait of Hormuz.What has Iran said about the latest hostilities? Iran condemned the latest wave of attacks, its foreign ministry saying they had “rendered futile all efforts of the past few months to reduce tension and establish peace in the west Asian region”. The ministry added: “The US regime has also caused the return of insecurity in the strait of Hormuz and disruption of international commercial shipping.”Is the strait open? Iran said on Sunday that passage through the waterway was not possible because of what it called recent illegal US military movements in the region. The US said its forces were positioned to safeguard freedom of navigation, and reiterated guidance that, despite a severe security threat, an “expanded” southern route near Oman coastline was available for two-way traffic.How will Graham be replaced in the senate? South Carolina’s governor, Henry McMaster, will appoint a new senator to serve out the remainder of Graham’s term, which ends on 3 January. Whoever is appointed will likely have a leg up in a special primary election on August 11 to get on the November ballot. The candidate would still run against the Democratic nominee Annie Andrews, a pediatrician who gained significant support in the red state, but who still faces an uphill challenge. Continue reading...

Tehran says vessel using unapproved route in strait was struck, drawing strikes from US forces to ‘degrade Iran’s ability to attack civilian mariners’Iran’s ⁠Islamic Revolutionary Guard Corps said on Sunday it had closed the strait of Hormuz after a vessel travelled on an unapproved route and was struck, warning that any retaliation over the incident would be met with a “severe response”.“A vessel that had jeopardised maritime security by switching off its systems was struck and ⁠brought to a halt,” the navy of Iran’s ⁠Islamic Revolutionary Guard Corps (IRGC) said in ​a statement, without giving any details about the ship. Continue reading...

• The United States launched new airstrikes against Iran following Iranian attacks on ships in the Strait of Hormuz. • Tehran responded to the U.S. military action by targeting various Gulf countries, further intensifying regional instability. • President Donald Trump stated that the Iranian provocations signaled the end of a fragile ceasefire, prompting the U.S. to threaten escalation.

US president rings bell from White House and showcases initiative that gives children a $1,000 investment accountDonald Trump rung the bell of the New York Stock Exchange (NYSE) from the White House to mark the first trading day for Trump accounts, a government initiative that provides children with a $1,000 investment account.The US president hosted leaders from the NYSE and the Nasdaq stock exchange at the Oval Office for a press conference Monday morning. It is the first joint opening of the exchanges, and the first time the bell had been rung at the White House. Continue reading...

• The UK stock market opened with gains, with the FTSE 100 edging up 0.07% to 10,485.84 points, while the FTSE 250 and FTSE All-Share also traded in positive territory. • Market growth was primarily driven by strong performance in banking and mining stocks, alongside increased corporate merger and acquisition activity. • Investors are currently balancing these gains against economic headwinds, including the Bank of England's 3.75% interest rate stance and fluctuating commodity prices.

• The US and Iran have agreed to "stand down" following a series of mutual strikes over the weekend that threatened to escalate regional tensions. • Both nations had accused each other of violating an existing ceasefire agreement, leading to the exchange of military attacks. • This de-escalation is critical to preventing a full-scale war in the Middle East and stabilizing volatile diplomatic relations.

• Intercontinental Exchange (ICE), the owner of the NYSE, is currently trading significantly below optimistic analyst price targets. • Zacks has assigned the company a Rank 3 "Hold" rating, citing a balance between favorable growth estimates and valuation compression. • The company is facing slower-than-expected growth and integration benefits following its acquisition of Black Knight.

• The United States launched a new round of military strikes against Iranian targets following an attack on a commercial tanker in the Strait of Hormuz. • Regional tensions escalated rapidly, leading Kuwait to intercept missiles and Bahrain to sound emergency sirens. • These exchanges highlight the volatile security situation in the Persian Gulf and the risk of wider conflict between the two nations.

Gambling business, which also owns Betfair, to focus on New York in latest high-profile blow to UK stock marketBusiness live – latest updatesThe gambling group that owns Paddy Power and Betfair is to scrap its listing on the London Stock Exchange, in yet another blow for the UK’s shrinking stock market.Flutter Entertainment, the world’s largest online betting company, told investors that it will cancel its London shares on 3 August, blaming low levels of trading in the stock and high costs. Continue reading...

Vice-president says he expects war to end in a week or few months with ‘a deal that is good for US economically’. Plus, get ready for start of Fifa men’s World CupGood morning.US forces have launched strikes against Iran in response to the downing of an Apache helicopter near the strait of Hormuz a day earlier, and Iran has retaliated by hitting American airbases in the Middle East. The exchange of fire came as the US vice-president, JD Vance, was vague on the possible timeframe for ending the Iran war, saying it could conclude in a week or a few months.What did Vance actually say? “Right now, I feel that we are in a position to get a deal that is good for the United States economically and that really does deal with the Iranian nuclear program. Not just now, not just while Donald Trump is president, but for the long term, to where my kids can say when they’re adults: ‘Iran is not going to have a nuclear weapon.’”Who is Steve Hilton? Since arriving in the US 14 years ago, he has had stints as an entrepreneur, a policy analyst and a Fox News host after years of working in the background of Conservative party politics in Britain.Who has been supporting him? Hilton has assembled a broad coalition spanning working-class voters, Latino small-business owners, religious conservatives and Silicon Valley tech tycoons. He has managed to turn his British accent into an asset, priding himself on being a legal immigrant as opposed to the undocumented kind derided by the Republican establishment. Continue reading...

Rolling coverage of the latest economic and financial newsAsian stocks have fallen sharply after Iran and the US exchanged their biggest round of fire since a ceasefire was agreed in April.The US launched strikes against Iran after Donald Trump blamed Tehran for downing a US army helicopter near the strait of Hormuz.On the former, Brent briefly fell below $90 for the first time since April 17th yesterday before partially rebounding after Trump vowed retaliation following Iran shooting down a US helicopter. On the latter, the Philly Semiconductor Index fell by as much as -8.62% intra-day before recovering to -1.93% by the close.Reflation is expected to continue in the near term due to the lasting impact of the war in Iran on imported energy costs, and of course the fading drag from from negative carry-over effect from last year, which most people forget.While oil and gas futures markets are no longer pricing in a further escalation in the Middle East, uncertainty surrounding the peace talks and the effective reopening of the strait of Hormuz appears likely to linger in the near term. Despite the acceleration in the annual rate, monthly momentum slowed noticeably, to just 0.5% m/m from 1.7% a month ago.9am BST: Deadline data for the CMA and Ofcom to report back to government on the Telegraph/Mail deal1.30pm BST: US inflation for May, forecast to rise to 4.2%2.15pm BST: Treasury Committee hearing on student loans Continue reading...

Despite Donald Trump’s calls for calm, Israeli military says it struck military targets in central and western Iran in response to attacks by TehranIsrael strikes Iran despite Trump plea as Middle East crisis threatens to escalateHello and welcome to our live coverage of the crisis in the Middle East.Israel launched airstrikes early on Monday targeting central and western Iran in response to missile fire from Tehran, attacks that threatened to drag the wider Middle East back into a regional war.Iran’s attacks appeared to be in retaliation for Israel strikes on Beirut’s Dahiyeh southern suburb area targeting Hezbollah infrastructure despite the truce agreement with Lebanon. Two people were killed and 20 wounded in Beirut, the Lebanon health ministry said.A missile was launched from Yemen towards Israeli territory, the Israeli military said, adding its aerial defence systems were operating to intercept the threat. Israel’s rescue services say there were no reports of casualties or impacts.Oil prices jumped more than 3% after Iran’s strikes, with the price of Brent crude – the international benchmark – rising 3.29% to $96.15 a barrel in early trading on Monday.Iran’s missile barrage was the the first since a fragile ceasefire took effect in early April. Iran’s parliament speaker, Mohammad-Bagher Ghalibaf, said US bases and assets in the region were now “legitimate targets”.The strait of Hormuz will be opened but under new conditions to be set by Iran and Oman, including a transit fee, Iran’s ambassador to Moscow, Kazem Jalali, told the Russian newspaper Izvestia – a position Trump strongly opposes.Trump said Netanyahu would have no choice but to accept whatever deal the US negotiated with Iran because “I call the shots”, the Financial Times reported. “He won’t have any choice,” Trump said. “I call the shots. I call all the shots. He [Netanyahu] doesn’t call the shots.” Continue reading...

• Hong Kong Exchanges and Clearing (HKEX) announced on May 7, 2026, the launch of its new AI‑enhanced market‑risk‑monitoring platform, which integrates real‑time connectivity‑pattern analysis and language‑model‑based compliance checks on trading messages. • The system, built with a Hong Kong‑based AI fintech partner, analyzes more than 4.8 million order‑book events per second and can automatically flag highly probable manipulative patterns such as quote spamming, wash‑trading, and quote‑stuffing. • HKEX expects the platform to reduce false‑positive alerts by 45% compared with legacy rule‑based systems, easing the workload of compliance officers and enabling faster response to live‑market anomalies.

• The United States is monitoring Iran's reply to a renewed peace proposal following mutual strikes, as reported by Fox News White House correspondent Aishah Hasnie. • President Trump pursues a diplomatic deal amid Middle East tensions, with former Iran special representative Brian Hook praising the administration's 'disciplined deterrence' strategy. • The developments signal potential de-escalation in the conflict, highlighting Trump's foreign policy focus on security and negotiation.

Donald Trump insists ceasefire remains intact after the most serious test yet. Plus, David Attenborough’s 100 most spectacular momentsGood morning.The US and Iran traded fire late on Thursday in the greatest test so far to their month-long ceasefire. Tehran accused Washington of breaching the truce by targeting two ships in the strait of Hormuz and attacking civilian areas, while the US said it struck in retaliation.Where were negotiations up to before the strikes? There were reports the two sides could be nearing an agreement to halt the war, with a one-page memorandum shared between Washington and Tehran, via Pakistan. Here is a rundown of the ins and outs over the past week.What happened to Trump’s “Project Freedom”? The US plan to guide tankers through the strait of Hormuz was ditched just days after it was launched, apparently because Saudi Arabia refused to let the US use its bases and airspace to carry out the operation.Follow our liveblog for the latest developments.How has the redistricting affected the sway of Black voters? Each now contains a third of the city’s Black voters, which means all nine of Tennessee’s congressional districts now lean Republican. Continue reading...

The US said it carried out strikes on Iranian military targets after an attack on three American destroyers in the strait of HormuzMorning, and welcome to the Guardian’s Middle East live blog.The US said it carried out strikes on Iranian military targets after an attack on three American destroyers in the strait of Hormuz, while Tehran accused Washington of striking first. The exchange of fire threatens to unravel a fragile ceasefire in effect since 8 April – but Donald Trump insisted the truce remains intact. Continue reading...

• The U.S. military and Iranian forces exchanged fire as the U.S. launched an operation to escort commercial ships through the Strait of Hormuz during a period described as a fragile ceasefire. • The incident underscores ongoing military tensions despite ceasefire arrangements, with both sides maintaining active military operations in the critical Middle Eastern waterway. • The escalating exchanges raise concerns about the stability of current de-escalation efforts between the two adversarial nations.

• Reports indicate Iran may be circumventing international sanctions through cryptocurrency exchanges, with Nobitex allegedly linked to figures close to Supreme Leader Ali Khamenei's circle acting as a key financial conduit for sanctioned entities and individuals. • Blockchain analysis suggests millions of dollars have moved through the platform despite Western restrictions, utilizing advanced obfuscation tactics to obscure transaction trails. • The alleged sanctions evasion exposes enforcement gaps as the Trump administration grapples with containing financial flows from Iran, raising questions about the effectiveness of existing economic pressure campaigns.

• Indian and Pakistani military forces have engaged in heavy artillery exchanges along the Line of Control in Kashmir, with reports of at least 18 soldiers killed and dozens wounded in the most serious escalation in six months. • Pakistan's military spokesperson claimed Indian forces initiated the bombardment Friday morning; India stated Pakistani positions fired first, creating conflicting narratives about the incident's origins. • The US has urged both nations to exercise restraint and resume diplomatic channels; UN Security Council members are monitoring the situation amid concerns about potential nuclear escalation.