Firms

• Illinois health officials have reported 194 confirmed and probable cases of cyclosporiasis, a parasitic infection that causes severe diarrhea. • The outbreak has spread across more than half of U.S. states, typically transmitted through the consumption of contaminated food or water. • This surge in cases is significant as it indicates a widespread contamination event affecting multiple regions across the country.

• National Development Minister Chee Hong Tat announced increased support for construction technology firms that innovate and apply robotics and automation solutions. • To facilitate adoption, developers and contractors will be provided with a list of certified technology partners for JTC projects. • The initiative aims to bridge the gap between innovation and industry use by helping startups integrate proven solutions after successful testing.

• The Monetary Authority of Singapore (MAS) has identified significant gaps in the Anti-Money Laundering (AML) controls currently utilized by several cryptocurrency firms. • The regulator specifically flagged deficiencies in critical areas, including customer due diligence checks, transaction monitoring, and the management of token transfers. • This move highlights the urgency for digital asset providers to strengthen their compliance frameworks to prevent financial crimes and maintain the integrity of the Singaporean financial ecosystem.

• AGI has raised $70 million to acquire traditional insurance firms and transform them into AI-native operations. • In separate funding news, Emergent has reached "unicorn" status after securing $130 million in investment. • Sophos has launched Fusion, an AI-native defense system designed to unify various security tools for better protection.

• The CDC confirmed 843 cases of Cyclospora across 31 states as of July 9, 2026, while a separate, larger outbreak in Michigan has surpassed 1,562 reports. • Health officials have not yet identified a specific food source responsible for the infections, though the outbreak persists through the summer season. • This situation is critical as it requires urgent medical attention for severe dehydration and specific antibiotic treatment, such as trimethoprim-sulfamethoxazole.

• Vermilion Cliffs Ventures, a U.S.-based venture firm founded by solo GP Ashley Smith, has successfully raised $25 million for its second fund. • The firm focuses on investing in technical founders who are developing AI infrastructure, cybersecurity, and developer tools. • This funding allows the firm to expand its portfolio with plans to back at least 25 early-stage startups.

Oliver Blume tells staff restructuring proposal includes ‘controversial decisions’ but he has broad supportBusiness live – latest updatesThe chief executive of Volkswagen has confirmed plans to cut 50,000 more jobs despite the carmaker’s supervisory board rejecting his plan to shut four factories in Germany.Oliver Blume told staff on Monday that proposals for a sprawling restructuring was “the most comprehensive realignment in the company’s history” and revolved around “12 initiatives, approximately 150 pages and 45 individual resolutions” for change. Continue reading...