Makers

• Southeast Asian filmmakers are seeing a surge in global interest and success driven by the widespread adoption of streaming platforms. • Local creators, such as those in Indonesia, are producing targeted content like dramas centered on infidelity to capture regional audiences. • This trend matters as it provides a scalable pathway for non-Western cinema to reach international viewers and compete with global blockbusters.

Data by one test-maker shows a positivity drop, but rate could be influenced by number of people taking testSign up for the Breaking News US newsletter emailThe maker of a popular laboratory test said the cyclosporiasis outbreak in the US may be slowing. An outbreak of infections from the single-celled parasite has grown to more than 18,000 suspected and confirmed cases in late July, the nation’s largest on record.The midwest has been hit particularly hard in the outbreak, where public health officials have linked infections in nine states to iceberg lettuce from Taylor Farms’ Mexico operations. The Centers for Disease Control and Prevention (CDC) said people in at least nine states appear to have connected cases. Continue reading...

• Asian chipmakers and AI-related stocks experienced a significant surge following positive momentum from Wall Street tech shares and month-end buying activity. • Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chipmaker, saw its shares rally by 10%. • Electronics giant Hon Hai Precision Industry also recorded a substantial gain, with its stock price surging 9.2%.

• New Federal Reserve chair Kevin Warsh is facing immediate internal conflict after three policymakers dissented against the central bank's decision to keep interest rates unchanged. • This level of early opposition is historically rare, contrasting with the smoother transitions experienced by previous Fed leaders such as Janet Yellen and Jerome Powell. • The dissent highlights a growing divide within the Fed regarding the appropriate pace of monetary policy and interest rate adjustments.

Industry wants mandate forcing manufacturers to sell increasing share of electric cars each year to be easedCarmakers are delaying final decisions to invest in UK factories until electric car sales rules are relaxed, according to the head of the British car industry’s lobby group.The chief executive of the Society of Motor Manufacturers and Traders (SMMT), Mike Hawes, said those with existing UK operations were considering building new models, but had held back so far. Continue reading...

Transport for London claims polluting diesel vehicles had been able to enter clean air zone without having to payTransport for London is pursuing a potential £1bn legal action against car manufacturers over vehicles that it argues should not have been allowed to drive freely in the capital’s clean-air zone.The high court heard that TfL was making allegations of “fraud and negligence” against manufacturers including Stellantis, Jaguar Land Rover, BMW and Nissan over their vehicles’ levels of diesel emissions. Continue reading...

• South Korea's benchmark Kospi index experienced its sharpest decline since early March, plummeting 732.09 points or 10.84% to close at 6,023.66. • The significant market drop was primarily driven by a slump in the performance of chipmakers, which are critical drivers of the South Korean economy. • This volatility highlights the sensitivity of the regional tech sector to global market shifts and investor sentiment regarding semiconductor demand.

• US stock indices showed mixed results, with the Dow Jones Industrial Average rising +0.738% while the Nasdaq 100 fell -1.12% and the S&P 500 remained nearly flat at +0.05%. • The Nasdaq's decline was driven by a rout in chipmakers and AI-infrastructure stocks due to concerns over AI spending and increased competition from China. • Market sentiment was further pressured by an unexpected decline in US consumer confidence for July.

• Lawmakers are increasingly focusing on artificial intelligence to build credibility with voters and strengthen their standing within their respective political parties. • Rep. Greg Casar, chair of the Congressional Progressive Caucus, asserts that AI policy will become a "decisive issue" by the 2028 presidential election. • This trend highlights a strategic shift where mastery of high-profile technological issues is used as a tool for political advancement and stardom.

• Asian stock markets experienced a broad decline, highlighted by South Korea's Kospi index plunging nearly 11% due to heavy selling of chipmaking stocks. • Other major indices fell, including Tokyo’s Nikkei 225, which dropped 4% to 62,364.92, and Taiwan's Taiex, which skidded 4.7% as TSMC shares fell 3%. • The sell-off is driven by growing investor fears that the current boom in artificial intelligence may be a bubble, leading to a correction in semiconductor valuations.

• Asian stocks fell sharply on Tuesday, led by a widespread sell-off in semiconductor shares due to growing skepticism regarding the financial returns on AI spending. • South Korea's KOSPI index was heavily dragged down by double-digit drops in chip giants SK Hynix and Samsung, while Japan's Nikkei 225 hit a two-month low. • Mainland Chinese equities also ended lower, though the Hang Seng Index managed modest gains supported by robust IPO activity and strong capital inflows.

• Tech CEOs and AI industry leaders are urging lawmakers to support open-weight AI models to ensure fair market competition and reduce overall costs. • Proponents argue that open-weight models allow a global community of researchers to identify vulnerabilities and develop critical safeguards more effectively than closed systems. • The argument is highlighted by a recent incident where Hugging Face reportedly used an open-source Chinese AI model to defend against a hack by OpenAI models due to restrictions on closed-source cybersecurity tools.

Europe and US risk being outpaced on innovation, as happened in the car industry, warns Pascal SoriotAstraZeneca must operate at “Chinese speed” to ensure it doesn’t suffer the fate of the western automotive industry by losing out to more innovative rivals, the drug company’s boss has said.The FTSE 100 company is watching the rise of China’s pharmaceutical industry closely and collaborating to take drugs to global markets, but its chief executive, Pascal Soriot, said the US and European pharmaceutical sector must focus on increasing the speed of innovation. Continue reading...

• Linying Studio, a moviemaking complex founded in 2024 in Hangzhou, China, is leveraging AI to capitalize on the country's booming "microdrama" market. • The studio previously operated up to 10 film crews simultaneously to produce short-form content designed for rapid consumption. • This shift toward AI-driven production reflects a broader industry trend where creators chase "two minutes of fame" through high-volume, low-cost digital storytelling.

Exclusive: Ro Khanna says ‘reindustrialization’ effort would provide grants, loans and investments to smaller businessesDemocrats in the US Congress have laid out plans for what they say would be the “boldest” bid to revitalize the country’s industrial heartlands since the second world war – using revenue raised by tariffs on China.A bill introduced this week would create a new bank to strengthen domestic manufacturing, provided with up to $15bn in funds each year. Continue reading...

BMW, Ford, Nissan and Toyota, plus parts maker Bosch, wrote joint letter to ministers in AprilMajor carmakers privately lobbied the UK government to revoke a ban on new petrol and diesel cars after 2035, according to documents that reveal for the first time the efforts to overturn a key decarbonisation policy.BMW, Ford, Nissan and Toyota, plus the parts maker Bosch, wrote a joint letter to ministers in April calling for an “open technology approach” including petrol and diesel cars after 2035, when the government had said new cars must produce zero carbon emissions. Continue reading...

• Asian stock markets rallied on Wednesday, with South Korea’s Kospi surging over 5% to a high of 7,164 and Japan's Nikkei 225 gaining 1.95% to reach 67,524.22. • The surge was driven by a rebound in semiconductor stocks, led by industry giants Samsung, SK Hynix, and Kioxia. • This recovery follows a period of volatility and a significant selloff in artificial intelligence-related stocks.

• The KOSPI index rebounded following a global technology selloff that previously impacted AI-linked chipmakers. • The recovery comes after investors questioned the sustainability of high valuations, despite strong earnings reports from Taiwan Semiconductor Manufacturing Co. • Morgan Stanley analysts suggest the recent correction was deep but did not reach bear market levels, indicating the KOSPI may be nearing its bottom.

• Chinese regulators are reportedly tightening controls on the export of artificial intelligence technology following the cancellation of Meta's $2 billion acquisition of AI firm Manus. • Domestic AI startups and semiconductor companies have been warned to prevent cutting-edge technologies, critical training data, and top technical talent from being acquired by Western entities. • This move signals a strategic shift by Beijing to protect national security and maintain a competitive edge in the global AI race by restricting the outflow of intellectual property.

• The S&P 500 and Nasdaq Composite rebounded on Tuesday morning, rising 0.3% and 0.5% respectively, while the Dow Jones Industrial Average dipped 0.2%. • Market gains were primarily driven by a recovery in chipmaker stocks as investors shifted focus toward upcoming big tech earnings reports. • This volatility reflects a broader tension in the market as traders balance semiconductor growth against macroeconomic uncertainty.

• Supreme Court justices appeared before lawmakers on Capitol Hill for a hearing focused on enhancing judicial security, marking their first such testimony since 2019. • The rare appearance highlights growing concerns over threats against judges and their families, necessitating a review of current protection protocols. • This move matters as it signals a critical need for legislative action and increased funding to safeguard the judiciary from political violence and harassment.

• Taiwan networking equipment makers reported record-high monthly revenues for June 2026, with several companies also achieving new quarterly and first-half records. • The growth was primarily driven by increased demand for AI data center expansions, high-speed switches, and broadband network upgrades. • These results highlight the critical role of Taiwanese manufacturers in supporting the global infrastructure needed for AI and Low Earth Orbit (LEO) satellite connectivity.

• The Supreme Court ruled that the president possesses the authority to fire a commissioner of the Federal Trade Commission, overriding protections previously established by the authorizing statute. • The author criticizes Chief Justice Roberts for using "bad history" and inconsistent precedents to reshape the federal bureaucracy to fit a specific view of executive power. • This decision is framed as a violation of republican principles, with the author arguing that such policy shifts should be achieved through elections and legislative action rather than judicial decrees.

• On August 2, 2026, the European Union's landmark AI law will fully enter into force, granting the Commission the authority to fine developers of powerful AI models. • Providers of models classified as having "systemic risk" must adhere to strict mandates, including rigorous stress-testing, security maintenance, and the mitigation of risks to public health and safety. • These regulations shift the AI Act from a set of deadlines to an enforceable legal framework, ensuring that the most influential AI systems are monitored for societal and security impacts.

• Big Tech companies are investing heavily in artificial intelligence infrastructure, leading to significant revenue growth for semiconductor chipmakers. • Apollo chief economist Torsten Sløk has raised concerns regarding the timeline for these massive investments to translate into actual cash returns. • The situation highlights a growing tension on Wall Street between the current spending boom and the uncertainty of the long-term financial payoff.

• 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.

Bipartisan group warns HHS that older adults and people with disabilities risk being pressured to end their livesLawmakers urged the Health and Human Services (HHS) secretary, Robert F Kennedy Jr, on Thursday to establish strict hospice reporting rules to prevent discrimination and coercion in medically assisted suicide.The bipartisan group of members of Congress warned that older adults, people with disabilities, or those with disaffected caregivers face a particular risk of being pressured to end their lives. Continue reading...

• European lawmakers are moving forward with the "Chat Control" bill, which allows Big Tech companies to scan personal texts, emails, and social media messages. • The measure aims to identify and combat the spread of child abuse material online, despite a majority of lawmakers previously voting against the proposal. • This development is significant as it bypasses legislative opposition and raises critical concerns regarding the privacy and encryption of citizens' personal communications.