Gets

• A U.S. class action lawsuit has been filed against memory giants Samsung, SK Hynix, and Micron, alleging they colluded to manipulate DRAM prices. • Plaintiffs claim the companies intentionally cut production of legacy DDR3 and DDR4 products under the pretext of transitioning to High Bandwidth Memory (HBM), causing prices to surge by 700% over four years. • The price spike reportedly forced Apple to increase the retail costs of its Mac and iPad product lines to offset higher component expenses.

US commerce department accuses state of ‘environmental terrorism’ and plans to evaluate its coastal agencyThe Trump administration plans to evaluate the performance of the California Coastal Commission, in the latest escalation of a dispute between the state’s Democratic leaders and the federal government over energy production.Per federal law, the National Oceanic and Atmospheric Administration (Noaa) is required to conduct reviews of federally approved coastal management programs, which take into consideration “the extent to which the State of California has implemented and enforced the program approved by the [commerce] Secretary”. Continue reading...

• U.S. Navy and Air Force fighter jets conducted strikes on 10 Iranian military targets located in and near the Strait of Hormuz. • The operation, shared via video by U.S. Central Command (Centcom) on Sunday, was launched in response to an Iranian drone attack on the vessel M/T Kiku. • These strikes signal a "vigilant, lethal, and ready" posture from the U.S. military to deter further aggression in a strategically volatile maritime region.

• 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.

• Financial analysts have updated their outlooks on key AI-related companies, notably hiking price targets for Micron Technology due to strong demand for AI memory. • Market experts are expressing caution regarding the current valuation of SpaceX, suggesting potential risks associated with its high pricing. • These shifts reflect a broader trend of analysts recalibrating expectations as AI infrastructure growth accelerates while private space valuations face scrutiny.

Strikes come after retaliatory attacks on Friday following a drone strike on cargo ship in strait of HormuzThe US has struck multiple targets in Iran after strikes on Friday that were in response to a drone strike on a cargo ship a day earlier in the strait of Hormuz, US Central Command (Centcom) has confirmed.Centcom said its strikes on Saturday were in “direct response to continued Iranian aggression against commercial shipping”. The US strikes targeted “Iranian military surveillance infrastructure, communication systems, air defense sites, drone storage facilities, and minelayer capabilities”, Centcom said in a statement. Continue reading...

• Fifth Third Bancorp (FITB) saw its modeled fair value price target increase slightly to US$58.18, up from the previous estimate of US$57.42. • The adjustment follows recent analyst discussions with company management and key takeaways from industry conferences. • This recalibration reflects a shifting analyst perspective on the bank's ability to manage expense controls and credit trends relative to previous concerns.

Strike was in response to drone attack a day earlier on a commercial vessel The US military ⁠conducted strikes ⁠against Iran ​on Friday, ⁠Central Command said in ⁠a statement, ​adding ‌that ‌US aircraft ‌struck Iranian missile and drone storage locations and ‌coastal radar sites ​after Tehran’s attack on a ⁠commercial ship ​in the ​strait ​of ​Hormuz.The US strike was in response to a drone attack a day earlier on a cargo ship in the strait, a provocation that President Donald Trump said violated the ceasefire. Continue reading...

• Major Hollywood studios and stars, including Issa Rae, are pivoting toward "microdramas," a mobile-first storytelling format characterized by extremely short, vertical episodes. • This shift occurs as the industry seeks new growth opportunities following the intense competition of the traditional streaming wars. • The trend highlights a strategic move to capture audiences accustomed to short-form content on platforms like TikTok and Reels.

• Hollywood celebrities and major media companies are entering the "microdrama" market, a rapidly growing entertainment format featuring vertically shot, mobile-first serialized storytelling. • These productions consist of short-form episodes typically running between one and three minutes, specifically designed for smartphone consumption. • The shift reflects a strategic move by creators to capture audiences who are increasingly moving away from traditional screens toward mobile-centric content.

• European Union regulators are moving to designate Amazon Web Services (AWS) and Microsoft Azure as "gatekeepers" under the Digital Markets Act (DMA). • This regulatory shift targets the dominance of these cloud units to prevent unfair competition and ensure a more open market for AI and cloud services. • The move comes amid significant pushback from the tech industry, which argues that the cloud market remains highly competitive.

• The European Union is targeting Amazon Web Services (AWS) and Microsoft Azure under the Digital Markets Act (DMA) to increase regulatory oversight. • This move comes as cloud infrastructure becomes an essential foundation for the rapid development and deployment of artificial intelligence. • The action aims to prevent market dominance and ensure fair competition among digital business models and infrastructure providers.

• GlobalFoundries is expanding its Singapore operations to serve as a primary hub for "physical AI" hardware, focusing on robotics, autonomous systems, and AI-driven infrastructure. • The chipmaker is increasing its investment in manufacturing capacity and developing next-generation semiconductor technologies to support these emerging fields. • This strategic shift aims to capture the growing demand for specialized chips that bridge the gap between digital AI and physical machinery.

• This week's international news highlights a series of diplomatic and military developments, including US-Iran talks aimed at ending their conflict and a sudden diplomatic dispute between Ukraine and Poland. • Ukraine has intensified its military operations by increasing strikes on Russian-occupied Crimea to destabilize Russian control in the region. • In political shifts, the report notes the resignation of Keir Starmer in the UK, alongside updates on the progress of the Fifa World Cup in the US.

Mayor of Manchester is coming under pressure from some to ditch net zero targets but this could be highly damaging on many levelsUK politics live – latest updatesBritain’s net zero economy is booming. The sector is worth £100bn a year to the UK, has outpaced other sectors, and supports higher-paying jobs than the average.For a union leader to suggest that the man who has overseen this impressive record – the energy secretary, Ed Miliband – would be a “noose around the neck” of job creation, as Unite’s Sharon Graham has done, might seem extraordinary. Continue reading...

Sadiq Khan said procurement rules had been broken but allows police another 12 months to operate pilot in LondonThe Metropolitan police has been granted a 12-month extension to a pilot project with the spy tech firm Palantir while the force carries out a procurement process.The development comes weeks after the mayor of London, Sadiq Khan, blocked a £50m deal between the Met and the US company to automate intelligence analysis in criminal investigations. Continue reading...

• Santander has expanded artificial intelligence access to its entire global workforce of 185,000 employees. • The bank forecasts that the integration of AI will generate more than €1 billion in business value between 2026 and 2028. • This strategic move highlights the financial sector's increasing reliance on AI to drive operational efficiency and revenue growth.

• AWS launched two new security services, Continuum and Context, on June 17 to address the failure of AI agents in production environments. • These tools respond to critical security lapses, specifically citing an incident where Claude Mythos triggered the first U.S. government export control. • The architecture extends DevOps Agent capabilities into the deployment pipeline, allowing Release Management to identify breaking changes during the code generation process.

Energy secretary expected to argue that UK clean economy is booming as private sector pledges over £100bn of investmentEd Miliband is to say that the UK must stick to net zero targets to deliver jobs and growth, as speculation surrounds the energy secretary’s role under a new prime minister.He will make the speech as data shows more than £100bn in green investment has been pledged by private sector companies in this parliament. Continue reading...

Weekly toll cap in NSW to fall from $60 to $50 for one year. Follow today’s news liveGet our breaking news email, free app or daily news podcastThe New South Wales government will lower the weekly road toll cap from $60 to $50 for one year as part of cost of living measures handed down today in the 2026-27 state budget.In advance of today’s budget, the Minns government has announced that the threshold for the cap, under which drivers can claim back from the government after they spend $60 per vehicle, will be lowered to $50 for the 12 months from July 6, a saving of $10 a week for motorists who already claim toll relief. Tolls on multiple roads managed by private operator Transurban will rise on July 1, leaving them on average more than 4% higher since July 2025. Continue reading...

• Senior Congress leader Pawan Khera criticized the BJP on Monday following "Operation Tiger," a move led by ally Eknath Shinde to further weaken Uddhav Thackeray's camp. • Khera likened the current political maneuvering to "Operation Lotus" and described the actions as "dacoity" aimed at destabilizing opposition forces. • The conflict highlights the ongoing volatility within Maharashtra's political landscape and the BJP's broader strategy for a "Congress-mukt Bharat."

• Netflix has cancelled the new sci-fi drama series created by the founders of *Stranger Things* after only one season. • The unnamed project joins a growing list of shows axed by the streaming platform following their initial run. • The creators previously expressed caution regarding cliffhangers, citing a similar experience with *The Dark Crystal: Age of Resistance*, which was also cancelled after one season.

• Pop artists Olivia Rodrigo, Olivia Dean, and Lola Young are gaining significant popularity and prestigious awards by prioritizing a "relatable" and authentic musical style. • This shift toward perceived authenticity is sparking a broader conversation about how these artists are influencing the current landscape of pop music. • The trend matters as it challenges traditional, highly polished pop standards, attracting millions of fans who connect with more raw and honest storytelling.

• Afghanistan has launched strikes against targets located within Pakistan, significantly escalating cross-border tensions between the two nations. • The attacks represent a direct threat to the fragile ceasefire currently in place, marking a volatile shift in diplomatic relations. • This escalation highlights the ongoing instability and security challenges persisting in the region under the current administration.

IDF claims continuing strikes come after Iran-backed group repeatedly violated ceasefire; JD Vance cancels trip as US-Iran talks set for Friday cancelledUS-Iran talks in Switzerland abruptly called offJD Vance tells Iran deal critics in Israel: Trump is your only ally left in the worldWelcome to our continuing live coverage of events in the Middle East.Israel’s military says it is attacking Hezbollah in several areas across southern Lebanon and has been striking throughout Thursday night.Vance lashed out at Israeli critics of the Iran deal, saying Donald Trump was Israel’s only ally left in the world, in a sharp rebuke that referenced the billions in defence aid ⁠the country receives from America. Trump “is the only head of state in the entire world ‌who is sympathetic to the nation of Israel at this ‌moment in time”, Vance told reporters.Trump said the ​US expected “a ⁠complete ceasefire on all fronts, including ⁠Lebanon, Hezbollah ​and Israel”, adding in a social media post: “We ‌encourage everyone ‌in the ‌Middle East Region to maintain their commitment to allowing our negotiations ‌to beautifully unfold.”Iran’s supreme leader said he approved the deal with the US despite having a “different view”, without elaborating. Ayatollah Mojtaba Khamenei said in message read on state television: “In principle, I had a different view [about the memorandum of understanding], but I issued my permission due to the commitment that the honourable [Iranian] president, as the chairman of the Supreme National Security Council, gave me on behalf of himself and other members to protect the rights of the Iranian nation and the resistance front.”In Khamenei’s message on Thursday – his first reaction to the Iran-US deal – he claimed Trump had “used all kinds of levers” to secure the deal “out of desperation”. The US president has claimed the agreement is a victory for Washington and averts a “worldwide depression”.Iran announced plans to introduce a system of maritime fees in the strait of Hormuz after the 60-day period of negotiation triggered by the signing of the memorandum of understanding with the US. Tehran, claiming a historic victory over the US, said the strait was under its control and a European plan for a naval mission to escort ships though the vital waterway would not be welcome, reports Patrick Wintour.Vance said the 60-day period in which to reach a final agreement with Iran started on Thursday. That would set a deadline for the final agreement between Iran and the US as 17 August.US Central Command ended its blockade in the Hormuz strait, it announced on social media. The US naval blockade of the strait had been in effect since 13 April, with control of the waterway being a key point of conflict in the war. Marine Traffic data showed that at least seven ships had crossed the strait on Thursday.The US would restart military action and ⁠reimpose a ⁠blockade ​against Iran if it did not fulfil its commitments ⁠under the signed agreement, US defence secretary Pete Hegseth said at a meeting with Nato defence ministers in Brussels.Khamenei said in his message that he received assurances from Pezeshkian about the deal and that it would not be accepted “if the American side wants to make excessive demands”. “It is obvious that the face-to-face negotiations that will be held in the future will not mean accepting the enemy’s point of view,” he added.Pakistan’s foreign ministry said the agreement’s signing ceremony in Switzerland, which was due to take place on Friday, was cancelled as it is understood that the memorandum of understanding between the US and Iran has already been signed remotely.EU foreign policy chief Kaja Kallas said she was representing the bloc’s position on the Middle East, after Israel announced it was severing diplomatic relations over allegations she had compared the country to apartheid South Africa. Continue reading...

• Harry Styles received a standing ovation after performing a "stunning" cover of a Simon & Garfunkel track during the Meltdown festival. • Accompanied by a full orchestra, Styles described the experience as an "incredibly special week" and a highlight of his career. • The performance was highly praised by critics, with The Independent awarding the show four stars and calling Styles a "charisma factory" and "consummate entertainer."

• Ireland has greenlit a new bill designed to establish the technical regulatory framework necessary for the supervision of the EU AI Act. • The legislation focuses specifically on oversight mechanisms and does not introduce any additional obligations beyond those already mandated by the EU. • This move is critical for ensuring that Ireland can legally enforce and monitor AI compliance as the broader European Union regulations take effect.

In this week’s newsletter: After Trump’s interventions over Greenland, there are many in Iceland who believe they would be stronger in the EU. But will its recent history of independence win out?• Don’t get This Is Europe delivered to your inbox? Sign up hereAs the UK marks the tenth anniversary of its fateful Brexit referendum next Tuesday, Iceland is fast approaching its moment of truth about the EU – albeit from the opposite direction.On 29 August, Icelanders will be asked whether or not to they want to come back to the table with Brussels for negotiations about joining the EU. Iceland originally applied in 2009 after the financial crash, but pulled out of talks in 2013 saying it couldn’t go any further without a referendum. Continue reading...