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Case against Ismael Zambada García, who helped co-found and lead the violent Sinaloa cartel, unfolded in New YorkThe Mexican drug kingpin, Ismael Zambada García, known as “El Mayo”, was sentenced in a US federal court on Monday to life in prison, after a plea deal last year in which he admitted ⁠to shipping vast amounts of cocaine and other substances as leader of the violent Sinaloa cartel.Zambada is 76 and one of the most high-profile Mexican ⁠drug traffickers to be sentenced in a US court since his fellow Sinaloa leader Joaquín “El Chapo” Guzmán ​was sentenced to life in prison in ‌2019. The case unfolded in federal court in Brooklyn, New York. Continue reading...

• Federal officers arrested Gabriel Hurtado-Cariaco, a Venezuelan delivery driver, in Nebraska last summer, subsequently labeling him a "criminal illegal alien" and a "known Tren de Aragua terrorist." • Government officials alleged that Hurtado-Cariaco violently assaulted an agent by choking her and slamming her head into the ground during the encounter. • New video evidence has emerged that contradicts the federal government's account of the arrest and the severity of the alleged violence.

• Federal health agencies, including the Administration for Strategic Preparedness and Response (ASPR), are requesting significant funding increases to better prepare for future pandemics and public health emergencies. • Concurrent health concerns include a challenging Cyclospora parasite outbreak, with over 1,200 cases reported in Michigan and additional cases in Florida and Georgia. • The situation is complicated by the fact that surveillance of the parasite has been optional for a year, hindering efforts to identify the source of the outbreak.

• Investment expert Gaurang Shah has identified Indian Bank, State Bank of India (SBI), ICICI Bank, and Federal Bank as his preferred banking stocks for long-term investment. • Within the public sector banking segment, Shah specifically highlighted Indian Bank Ltd and State Bank of India Ltd as top picks. • These recommendations serve as a guide for investors seeking stability and growth within the Indian financial sector over a prolonged horizon.

• Major U.S. indices declined, with the Nasdaq falling 1.68%, the S&P 500 dropping 0.81%, and the Dow Jones slipping 0.09% as semiconductor and tech stocks tumbled. • Market volatility was driven by a poor earnings forecast from Netflix and rising geopolitical tensions following a speech by Donald Trump regarding Iran. • Brent crude oil surged over 3% to $86.91 per barrel, fueling inflation concerns, while Bitcoin climbed above $63,309.06 and precious metals attempted a recovery.

• The White House hosted a closed-door briefing for election denial activists, organized by Cleta Mitchell and requiring attendees to sign nondisclosure agreements. • The session featured materials reportedly recycled from conservative media, serving as a precursor to a primetime speech by Donald Trump. • Lauren Groh-Wargo of Fair Fight Action warned that the Election Integrity Network is linking debunked 2020 claims to potential government actions.

• The Federal Reserve's internal watchdog issued a warning on Thursday regarding the central bank's vulnerability to insider threats. • The report highlights that sensitive economic information is being actively targeted by foreign adversaries seeking an advantage. • This security gap is critical because the leak of non-public economic data could destabilize financial markets and undermine U.S. monetary policy.

• A Federal Reserve inspector general's report revealed that the central bank failed to protect critical economic data from "foreign adversaries." • A senior advisor named Rogers allegedly leaked interest rate decisions to Chinese state actors via email and hand-delivery between 2017 and his 2021 retirement. • The report also highlighted a 2018 breach where confidential brief books containing sensitive forecasts and economic analyses were shared with unauthorized outsiders.

• Senators Elizabeth Warren and Ron Wyden are urging the Treasury Department and IRS to stop implementing a presidential immunity order after a federal judge ruled the order illegal. • The move follows a separate December 2025 push by Senator Warren and Representative Chris Deluzio for the Trump administration to limit defense company stock buybacks. • These actions aim to ensure government agencies adhere to judicial rulings and prioritize research and development spending over corporate stock manipulation.

• Investors are focusing on a dense economic calendar for July 16, 2026, featuring the momentum of the current earnings season and upcoming US retail sales data. • Market volatility is expected as Federal Reserve officials provide commentary following the latest Producer Price Index (PPI) data to signal future monetary policy. • Geopolitical tensions are rising due to reports that Donald Trump plans to expand military actions within the Middle East.

President says he had to choose ‘one side or the other’ after breakdown of relations between ministry and military leadersEurope live – latest updatesUkraine’s president, Volodymyr Zelenskyy, has defended his decision to dismiss the country’s popular defence minister, Mykhailo Fedorov, and confirmed reports that relations had broken down between the ministry and the country’s top army leadership.Speaking at a press conference in Kyiv with the British prime minister, Keir Starmer, Zelenskyy said there had been a “challenging dialogue” between Fedorov – widely seen as a reformist and moderniser – and the military’s commander in chief, Col Gen Oleksandr Syrskyi. Continue reading...

Roger Rogoff’s was selected by panel of judges for top prosecutor job after interim US attorney’s term endedUS politics live – latest updatesDonald Trump fired the new top federal prosecutor in Seattle on Wednesday less than an hour after the attorney was unanimously appointed by the federal judges in the district, highlighting tensions between the courts and the president over the powerful positions.Roger Rogoff, a former judge and veteran state and federal prosecutor, was sworn in as US attorney before 8am at the US courthouse in downtown Seattle. In a phone interview, he said he then went to the US attorney’s office and asked to meet with Charles Neil Floyd, whose 120-day interim term in the position ended in February. Continue reading...

• Former Fed official Kevin Warsh suggested that interest rate increases may be necessary to combat stubborn inflation. • The Federal Reserve faces a dilemma between providing consumer relief from high costs and maintaining low rates to support the stock market. • This potential shift in monetary policy validates investor fears that the Fed may prioritize inflation control over market stability.

• The Federal Reserve Board of Governors has established five new task forces dedicated to analyzing and improving the conduct of monetary policy. • Key focus areas include refining policy communications during uncertainty, evaluating the costs and benefits of the current balance sheet regime, and enhancing the timeliness of economic data. • These initiatives matter as they aim to strengthen the quality of real economic signals and institutional frameworks that inform critical policy judgments.

• Federal Reserve Chair Kevin Warsh testified at his first congressional hearing on Tuesday, advocating for a "sea change" in the central bank's economic strategy. • Warsh detailed plans to overhaul the Federal Reserve's current approach to managing inflation and broader economic stability. • This shift signals a potential departure from previous monetary policies, aiming to modernize how the Fed responds to evolving financial pressures.

• Fed Chairman Kevin M. Warsh testified before Congress on Tuesday regarding the economic threats posed by rising energy prices. • The testimony follows new data showing the Consumer Price Index slowed to an annual inflation rate of 3.5 percent in June. • Warsh advocated for a shift toward private-sector data and new technologies to gain a real-time understanding of the economy.

• Asian stock markets declined on Tuesday due to escalating tensions between the United States and Iran, which pushed oil prices toward one-month highs. • The surge in energy costs has sparked fresh inflation concerns and reduced investor expectations for lower global interest rates. • Market participants are maintaining a cautious stance as they await the release of critical U.S. consumer inflation data.

• Federal Reserve Chairman Kevin Warsh is conducting a comprehensive review of the central bank's interest rate policy and balance sheet management. • The review specifically focuses on the "ample-reserves" regime and the Fed's current bond holdings to determine if adjustments are necessary. • Warsh noted that a complete return to pre-crisis policies is unlikely, signaling a permanent shift in how the Fed manages its financial tools.

• Federal Reserve Chairman Warsh appeared before the U.S. House Committee on Financial Services to deliver the semiannual Monetary Policy Report. • The testimony serves as a formal requirement under the Federal Reserve Act, ensuring transparency between the central bank and Congress. • This appearance allows the Federal Reserve to outline its current economic outlook and justify its strategic decisions regarding interest rates and monetary stability.

• Federal Reserve Governor Christopher Waller stated that another high inflation reading would serve as a "signal" regarding the central bank's future policy direction. • Waller highlighted that the U.S. labor market remains resilient, citing persistently strong job reports and a stable unemployment rate. • These comments matter as the Fed balances the need to curb inflation without triggering a significant economic downturn or spike in unemployment.

• A federal court dismissed a lawsuit filed against the IRS by plaintiffs associated with Donald Trump, ruling that the parties "acted in bad faith." • The judge described the legal action as a "sham lawsuit" designed to fleece taxpayers rather than address legitimate legal grievances. • The case centered on challenges to OMB rules regarding federal funding, which critics argued could destabilize nonprofits and allow political pressure over $1 trillion in annual funding.

Previously withheld material concerns fatal shootings of Renée Good and Alex Pretti during immigration crackdownPreviously withheld evidence regarding the fatal shootings of Renée Good and Alex Pretti is now in the hands of Minnesota prosecutors, helping the state gain clarity on the deaths that occurred earlier this year during protests against a federal immigration crackdown.“Through the cooperation of our federal partners, we have obtained hard drives of previously withheld evidence in the killings of Renée Good and Alex Pretti, and the shooting of Julio Sosa-Celis,” the Hennepin county attorney, Mary Moriarty, said in a video statement posted on social media. Continue reading...

• The United States is scheduled to release its June Consumer Price Index (CPI) data this Tuesday, serving as a pivotal macroeconomic event for global markets. • The report follows a notable increase in inflation during May and comes amid volatility in oil prices and geopolitical tensions in the Middle East. • This data is critical because it will influence the Federal Reserve's upcoming policy assessments and potential expectations for interest rate cuts.

• The Supreme Court issued a decision on June 29 in Trump v. Slaughter, which notably overruled the precedent set by Humphrey's Executor. • This ruling reshapes the level of presidential control over federal agencies, potentially making agency leadership more susceptible to removal. • The decision matters for employers as it suggests that federal agency guidance and enforcement priorities may become more volatile and subject to change.

• Barisan Nasional (BN) secured a two-thirds majority in the 16th Johor state election, winning 48 out of 56 available seats. • The remaining seats were won by Pakatan Harapan (PH), while the Prime Minister urged PH candidates to continue serving the public despite the result. • The victory is significant as the Prime Minister reaffirmed the federal government's commitment to strengthening Johor's development agenda and the well-being of its residents.

• Social activist Voon Shiak Ni stated on July 12 that the results of the Johor state election serve as a critical "wake-up call" for the Pakatan Harapan (PH)-led federal government. • Voon argues that the voting patterns in Johor demonstrate a clear lack of satisfaction among the electorate regarding the current direction of the federal administration. • The outcome is significant as it highlights a growing disconnect between the federal government's policies and the expectations of voters in key states.

• A bipartisan group of House lawmakers is urging federal agencies to coordinate efforts to protect election integrity against threats posed by artificial intelligence. • The lawmakers are specifically concerned about AI-driven misinformation, such as chatbots providing voters with inaccurate information during the election cycle. • AI companies have acknowledged the limitations of voluntary safeguards in addressing political bias and are focusing on neutrality-by-design and citation transparency.