Monday

• The KOSPI index plummeted nearly 9% on the 13th, falling below the 7,000 mark in a session dubbed "Another Black Monday." • The crash was primarily driven by a massive sell-off in semiconductor giants Samsung Electronics and SK hynix, with the latter recording its biggest drop in history. • Market volatility is attributed to fears of a semiconductor "peak-out" due to slowing AI investment and escalating geopolitical tensions between the U.S. and Iran.

• National Bank Financial analyst Maxim Sytchev reports a significant divergence in the Industrial Products sector as the market prepares for second-quarter earnings. • Sytchev notes that the "long-AI trade" has heavily boosted construction, machinery, and distribution stocks. • This trend has created a "zero-sum dynamic," where gains in AI-related industrial names have come at the expense of traditional asset-light consulting business models.

• South Korea's benchmark Kospi index plummeted nearly 9% on Monday, marking the steepest market sell-off the country has experienced in several months. • The crash was primarily driven by a sharp retreat in semiconductor shares and heightened investor panic stemming from mounting geopolitical tensions. • This "Black Monday" event highlights the extreme vulnerability of the Korean economy to global chip demand and regional instability.

In today’s newsletter: Andy Beckett takes your questions – and mine – about where UK politics is at and where it’s headed, from leadership churn and policy choices to electoral reform and moreGood morning. This week, we anticipate the arrival of Britain’s seventh prime minister in the space of a decade. Barring a sequence of events too freakish to contemplate this early in the day, Andy Burnham will be declared Labour leader on Friday and invited to form a new government thereafter.Sceptical as I am about doomy predictions on Britain’s chronic ungovernability, I wanted to speak to somebody who could offer some deeper context. Step forward Guardian columnist Andy Beckett, who also writes vivid modern histories about the country’s defining political ideas, and step forward you – First Edition readers – who responded when I asked what contemporary liabilities we should be talking about.Middle East | The US military has launched a new wave of attacks against Iran amid the escalating standoff over the strait of Hormuz, with Tehran saying the latest strikes had “rendered futile” all the diplomatic efforts of the past few months.UK news | Senior police figures and politicians have warned against speculation during the murder investigation into Ann Widdecombe’s death, after detectives said there was “nothing to suggest” political motivation.US politics | Senator Lindsey Graham, a key Trump ally in Washington, died this weekend after a short illness, his office announced.Far right | Elon Musk’s family foundation took Tommy Robinson to Russia, according to the billionaire X owner’s father. Lib Dem leader Ed Davey said on Sunday the news was a sign Britain “must do more to defend its democracy”.UK politics | Reform UK would have held just 15% of the donations it received last year if a proposed £100,000 cap on political donations had been in force, according to analysis shared with the Guardian.Monday | Green MP Hannah Spencer presents her Maximum Workplace Temperature Bill to the Commons, which would establish an independent body to recommend safe working temperatures.Tuesday | MPs debate capping political donations as they seek to strengthen a new law on party funding.Wednesday | Sir Keir Starmer will face his final PMQs. Continue reading...

• The Sensex and Nifty surged over 1% on Friday, driven by strong TCS earnings, positive global cues, and a decrease in market volatility. • Investors are closely monitoring Q1 corporate earnings and key technical levels to determine the short-term direction of Dalal Street. • This momentum is critical as market participants weigh the impact of India VIX levels and global economic developments on domestic stock action.

• Market experts are analyzing whether the Nifty will cross the 24,300 mark on Monday, July 13, amid supportive domestic fundamentals. • Immediate resistance is identified in the 24,400-24,600 zone, with a potential breakout potentially leading the index toward the 25,000 level. • While market breadth is improving, Ravi Singh of Master Capital warns that volatility may persist due to crude oil fluctuations and the resurfacing crisis in West Asia.

• The WHO announced the first patient has entered a randomized platform trial in the Democratic Republic of the Congo to test the monoclonal antibody MBP134 and remdesivir against the Bundibugyo virus. • This clinical trial aims to determine if these antiviral therapies, used alone or in combination, can improve survival rates as Ebola-related cases and deaths continue to rise. • Separately, rising health affordability crises and medical system frustrations are driving increased public and political demand for government intervention regarding drug prices and insurance premiums.

• Major U.S. stock indexes ended Monday, July 6, 2026, higher following a holiday-shortened week. • The Dow Jones Industrial Average achieved a historic milestone, crossing the 53,000 mark for the first time to set both intraday and closing records. • The market surge was primarily driven by a rebound in shares tied to artificial intelligence (AI) technology.

• Norway achieved a historic milestone by defeating Brazil in the World Cup round of 16. • Chinese car brands have reached a record 13.7% market share in Norway, the highest percentage of any European nation. • The Norwegian government plans to further reduce the cost of public transport throughout the current year.

• The ASX 200 index opened higher on Monday, gaining ground despite mixed corporate news and futures suggesting a weaker start. • Market growth is being driven by stabilizing consumer sectors and easing expectations for further interest rate hikes. • Gains are tempered by softening corporate earnings forecasts and price declines in key commodities, including gold, copper, and oil.

• Anti-immigrant slogans were discovered on trucks in Switzerland, raising concerns over rising xenophobia and social tension. • A new housing cooperative has introduced a special rent discount specifically for families to improve urban affordability. • The cooperative's management intends for this discounted rental model to serve as a blueprint for other housing developments across the country.

• Indian stock markets closed higher on Friday, with both the Sensex and Nifty 50 posting gains of more than 0.3%. • The surge was driven by easing tensions in the Middle East, a recovery in the IT sector, and positive momentum from the India-Japan Summit. • Market sentiment has been further bolstered by reduced expectations for US Federal Reserve rate hikes, signaling a more favorable global economic environment.

• ICML 2026 begins July 6 in Seoul, featuring a record-breaking 23,918 submissions, which is double the volume of the previous year. • A peer-review crisis emerged after watermark-based LLM detection identified 398 reviewers violating policies, resulting in 497 desk-rejections. • Agentic AI has become the dominant theme for workshop proposals, reflecting a major shift in the structural direction of AI development.

• Several Asian governments are taking direct interventionist roles in their economies, with South Korea's president meeting with top chipmakers to coordinate major long-term investment plans. • China is implementing measures to keep startup capital within its borders, while Vietnam has officially launched a carbon market by government decree. • Japan is integrating its security and trade strategies into a single unified approach to strengthen its regional standing.

• Authorities in eastern Libya released 10 Palestine solidarity activists on Monday, June 29, 2026, following their arrest in May. • The activists were members of the Global Sumud Convoy and were detained near Sirte while attempting to break the Israeli siege of the Gaza Strip. • The group's mission involved transporting critical humanitarian aid, including mobile homes and ambulances, to the besieged territory.

• M&M and Godrej Properties are positioned for potential breakouts following a bullish reversal in the Nifty Auto and Realty indices. • The trend is driven by strong short covering as Foreign Institutional Investors (FIIs) reduce their short positions, contrasting a broader market dip where Nifty 500 stocks fell below their 10-day SMA. • This shift is significant as it signals a recovery in specific sectors despite the general Friday plunge in the wider market.

• National Bank Financial analyst Vishal Shreedhar expects Aritzia Inc. (ATZ-T) to show "accelerating momentum" in its upcoming financial reports. • The analyst projects earnings per share of 87 cents for the first quarter of fiscal 2027, a significant increase from the 42 cents reported during the same period last year. • This projection is slightly lower than the broader Street forecast by one penny, but indicates strong growth for the fashion retailer.

• U.S. stock futures declined on Monday as investors reacted to a potential diplomatic breakthrough between the United States and Iran. • Mediators announced that officials from both nations have agreed to a 60-day roadmap aimed at securing a final peace deal. • The progress in negotiations led to a decrease in global oil prices, contributing to the volatility seen in financial markets.

In today’s newsletter: Our senior political correspondent talks about how the coming days and weeks may unfold for the Labour government, and how Keir Starmer ended up the most unpopular prime minister in memory• Don’t get First Edition delivered to your inbox? Sign up hereGood morning. Today’s the day, probably. Keir Starmer is expected to announce that he will step down as prime minister, after overwhelming pressure from Labour MPs to make way for Andy Burnham to become party leader.This follows the Manchester mayor’s emphatic victory in last Thursday’s Makerfield byelection, where he leveraged his popularity and the prevailing anti-Starmer mood to secure more votes than Reform and Restore combined, cementing his credentials as the man who can take on the hard right in the next general election.Middle East | High-stakes talks between the US and Iran are expected to continue for the rest of the week in Switzerland, after a tense start that saw Iranian negotiators walk out in protest at a stream of threats issued by Donald Trump on social media.Edinburgh | Police Scotland said a man was charged after a series of attacks in Edinburgh on Friday night that are being treated as potential anti-Muslim hate crimes. Counter-terrorism officers were brought in to investigate the attacks in which five people were injured.UK weather | The Met Office forecasts that extremely high temperatures could last from Monday until Thursday, leading to health concerns for elderly and vulnerable people.UK news | Police have named the driver killed in the Bedford train crash on Friday, as his family said they “are devastated by his loss”.Prisons | Pet ferrets kept as therapy animals at the UK’s largest children’s prison have been co-opted by managers to kill rats, resulting in a bloody incident and concerns over child and animal welfare.Tuesday | This day marks the 10 years since the UK voted to leave the EU. A Guardian report analysing the complex legacy of Brexit through boats, bankers and borders is a good place to consider the legacy of leaving the EU.Tuesday | Also this day, Peter Murrell, the ex-chief executive of the SNP, is likely to be sentenced to prison custody after pleading guilty to embezzling more than £400,000 from the party.Wednesday | Donna Ockenden will publish her review of Nottingham University Hospitals NHS Trust, Britain’s biggest maternity care scandal.Friday | Kings Charles will become the first head of state to reveal their personal tax bill, and will release other financial reports for the royal household. Continue reading...

• Indian equities ended lower on Friday, snapping a five-session winning streak as the Sensex fell 607 points and the Nifty dropped below recent highs. • The market decline was primarily driven by heavy selling in the IT sector and weak global cues that weighed on investor sentiment. • Despite the dip, analysts remain cautiously optimistic, suggesting a "buy-on-dips" strategy due to easing volatility and expectations of an earnings recovery.

Overwhelming pressure from Labour MPs pushing Starmer towards decision to step downUK politics – live updatesKeir Starmer is expected to announce on Monday that he will step down as prime minister, after overwhelming pressure from Labour MPs to make way for Andy Burnham to become Labour leader.The prime minister and his allies had insisted for weeks that they would fight a leadership challenge from Burnham, or anyone else, before the Makerfield byelection in which Burnham secured a return to Westminster. Continue reading...

Sunday newspapers report that the prime minister is close to announcing when he’ll stand down and set out a timetable for departureGood morning and welcome to our live coverage of UK politics. The British prime minister, Keir Starmer, is expected to resign on Monday and is preparing to set out a timetable for an orderly departure from No 10, according to the Observer.The paper reports that Starmer, who has insisted he would fight any leadership challenge, now recognises his position is untenable after talking with cabinet ministers, party donors and trade union leaders over the last couple of days. Continue reading...

In today’s newsletter: A peace deal between the US and Iran has been announced, but what it contains, and what could happen next, remain unclearGood morning. A war which had no clear objectives and no obvious endgame, but unleashed havoc across the globe, looks to be on the brink of coming to a close. As he prepared to mark his 80th birthday with a cage fight on the historic White House lawn, Donald Trump announced via social media that “the Deal with the Islamic Republic of Iran is now complete”.The US president has been claiming a deal is close since very early on in the conflict, but this time his words have been backed up by Iranian officials and Pakistan, which has been acting as mediator. Iran’s deputy foreign minister Kazem Gharibabadi said the agreement puts an “immediate end” to the war, including the conflict in Lebanon. World leaders, including Keir Starmer, have welcomed the news.Russia | British armed forces intercepted and boarded a Russian shadow fleet oil tanker in the Channel in the early hours of Sunday, the first time the UK has led a naval capture since the start of the war in Ukraine.Ukraine | One of the country’s most significant religious sites, Dormition Cathedral in Kyiv, was set on fire after continuing Russian bombardment.Defence | The strategic defence review row drags on, after last week’s ministerial resignations. Culture secretary Lisa Nandy revealed her department is “actively involved” in identifying cash to divert to the Ministry of Defence.Nature | A tropical western reef heron usually found between west Africa and India has been spotted in north Wales, the first time the species has been sighted in Britain. Birdwatchers are thrilled; climate scientists less so.UK news | Tommy Robinson was detained at Heathrow on Saturday. The far-right activist, real name Stephen Yaxley-Lennon, was held under counter-terrorism laws after riots in Southampton.Today | Keir Starmer is expected to “outline” his plan to ban access to “high risk” social media apps for under-16s. Libby covered what that might look like last week.Tuesday | Chief of the defence staff Richard Knighton will appear in front of the Lords’ international relations and defence committee at 11am to discuss the beleaguered strategic defense review. One worth watching.Thursday | It’s make or break in Makerfield for Andy Burnham, as he looks to win the byelection … and then the keys to Number 10? There are also two byelections in Scotland, one of which the Guardian has called “pivotal” for the future of energy in the country. Continue reading...

• The Sensex and Nifty surged 2% in a sharp market rally, adding approximately Rs 10 lakh crore in total market value. • This growth was driven by a boost in investor sentiment following softer crude oil prices and easing geopolitical tensions between the US and Iran. • The rally was characterized by strong performance in broader markets, a decrease in volatility, and a shift toward bullish technical indicators.

• The global media landscape is seeing a surge in vertical video, with Beijing implementing stricter standards for microdramas as the format accelerates. • Asia is dominating Netflix's non-English Top 10, highlighted by a 200% increase in viewership from Indonesia. • In leadership news, Lino Cayetano has been appointed to lead the Philippines' PTV, while two YouTube-native directors are gaining traction in North America.

• Indian benchmark indices closed marginally lower on Friday following the Reserve Bank of India's (RBI) decision to maintain current interest rates. • Market sentiment was dampened by the RBI's updated economic outlook, which included raised inflation projections and lowered growth forecasts. • Continued selling by Foreign Institutional Investors (FIIs) and volatility in US and European markets are creating downward pressure on Dalal Street.

• Indian equity markets closed sharply lower on May 29, driven by broad-based selling, rising volatility, and MSCI-driven fund flows. • Technical indicators currently suggest a bearish bias for the markets, placing a critical focus on key support zones. • Investor sentiment for Monday's session will be heavily influenced by global cues, the current monsoon outlook, and overall market breadth.

• Starring Mohanlal and directed by Jeethu Joseph, 'Drishyam 3' has earned over ₹156 crore globally within its first five days of release. • Despite the strong overall performance, the film experienced a significant drop in box office collections on Monday. • The movie's success reflects the high anticipation surrounding the franchise within the South Indian film industry.