Governments

• Jailed activist Joshua Wong admitted to instigating sanctions against the Beijing and Hong Kong governments by urging foreign firms to stop investing in mainland China and providing technology to local police. • Wong, the former secretary general of Demosisto, is already serving a four-year and eight-month sentence for conspiring to subvert state power via an unofficial legislative primary in July 2020. • Prosecutors allege that Wong and founding chairman Agnes Chow plotted to seek foreign intervention in Hong Kong affairs as early as 2016 to achieve city self-determination.

• The National League of Cities has partnered with CyberAlliance to provide local governments with an AI-powered platform for cybersecurity risk assessments and guidance. • This initiative comes as cybersecurity incidents among municipalities surged by 42% in 2025, leading state CIOs to express concern over the safety of critical public-sector data. • Local leaders have emphasized that the MS-ISAC program is critical to their operations and are actively advocating for the restoration of federal funding.

• Long-term U.S. Treasury yields surged to their highest levels since 2007 on Tuesday, triggering a significant bond market sell-off. • In response to the volatility, the Treasury Secretary doubled the government's buyback of debt to stabilize the market. • This "bond market quake" is viewed as negative for governments, businesses, and consumers due to the potential for higher borrowing costs.

• Long-term U.S. Treasury yields surged to their highest levels since 2007 on Tuesday, triggering a significant bond market sell-off. • In response to the volatility, the Treasury Secretary doubled the government's buyback of debt to stabilize the market. • This "bond market quake" is expected to increase borrowing costs for governments, businesses, and consumers, potentially slowing economic growth.

• European governments in Berlin and Rome initially attempted to block cross-border bank mergers, specifically targeting UniCredit's efforts to acquire Commerzbank. • The European Commission issued a 56-page preliminary opinion arguing that national security justifications were insufficient and breached EU rules on the free movement of capital. • In response to regulatory pressure, Italy rewrote its laws for January 2026 to subordinate "Golden Power" reviews to prior decisions made by the ECB and the Commission.

• Central European governments are implementing emergency measures as the Danube River reaches record-low water levels. • The crisis is driven by soaring temperatures and a persistent heatwave currently affecting the European continent. • These low water levels threaten critical shipping lanes and regional logistics, potentially disrupting trade and transport.

Shares in Rolls-Royce jump by 5.5% after it lifts earnings guidance, while BAE Systems also upgrades profit forecastsBusiness live – latest updatesRolls-Royce and BAE Systems are expecting higher profits as governments around the world boost their defence spending.Both companies lifted their earnings guidance on Thursday morning, citing commitments from governments to increase investment in defence systems. Continue reading...