Takeaways

• The Apple TV horror-comedy series "Widow’s Bay" won 14 awards at the 2026 Emmys on Monday night. • The show took home top honors for best comedy, lead actor, writing, directing, and both supporting actor and actress. • This sweep establishes the haunted island series as the dominant force in the current television comedy market.

• Leaders from Brazil, Russia, India, and China met for the annual BRICS summit to negotiate trade wins and discuss the conflict in the Middle East. • The summit featured a high-level meeting between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping, marking their most significant engagement since February. • The group issued a joint declaration calling for "maximum restraint" in the Middle East to project an image of growing global diplomatic influence.

• The 11-nation BRICS bloc concluded its 2026 summit without condemning the US-Israel war on Iran. • India worked behind the scenes to secure a final declaration by mediating between the UAE and Iran, who are on opposite sides of the conflict. • The lack of a strong stance on the war highlights deep strategic divisions and clashing interests among the members of the non-Western grouping.

• Member states of the Shanghai Cooperation Organisation (SCO) convened for a summit in Bishkek, where they condemned sanctions and attacks targeting Iran. • The group asserted their "inalienable right" to develop, produce, and utilize atomic energy for peaceful purposes, arguing that restrictive measures are contrary to international law. • Representing 43% of the global population and 23% of the world economy, the SCO's stance signals a collective push for equitable and non-discriminatory international cooperation in nuclear research.

• Federal Reserve Chairman Kevin Warsh delivered his first keynote address at the annual Jackson Hole retreat in Wyoming on Friday. • Warsh emphasized that price stability remains the central bank's core focus and will be the primary driver for near-term decision-making. • Despite strains in the housing and agriculture sectors, Warsh expressed confidence in the overall resilience and strengthening of the U.S. economy.

• Tuesday's primary elections in Florida saw a progressive candidate secure an upset victory for the Democratic Senate nomination. • Republican Rep. Byron Donalds, endorsed by Donald Trump, won his party's nomination to become Florida's first Black governor. • These results highlight a continuing ideological divide within the Democratic party and the enduring influence of Trump over Republican nominations.

Elections in Florida, Alaska and Wyoming provide a sense of how voters are feeling ahead of November’s midtermsPrimaries in Florida, Alaska and Wyoming held on Tuesday provided the latest view into how voters are feeling ahead of November’s US midterm elections.One candidate aligned with the Democratic Socialists of America (DSA) netted an extraordinary win while another was defeated handily. Donald Trump’s handpicked candidates received a mixed reception from voters. In Alaska, voters chose their fighters for one of the year’s marquee US Senate races, and in Florida, extremism remained alive and well among Republicans. Continue reading...

• India's Parliament Monsoon Session officially concluded on Thursday, with both the Lok Sabha and Rajya Sabha adjourned sine die. • The session was characterized by a mix of legislative business and frequent disruptions caused by opposition protests over political flashpoints and the Jantar Mantar protests. • The final day of proceedings was notably brief, particularly in the Lok Sabha, marking the end of several weeks of contentious debate.

• Voters in six states, including Wisconsin and Minnesota, cast ballots in primary elections this Tuesday ahead of the November midterms. • The results underscore deep internal conflicts within both the Democratic and Republican parties as they prepare for the general election. • In Minnesota, the competitive Democratic U.S. Senate race served as a critical litmus test regarding the party's resolve to oppose Donald Trump's immigration policies.

• Republican voters in Michigan selected Rep. John James as their nominee for governor during Tuesday's elections. • James secured the nomination with the endorsement of Donald Trump, overcoming businessman Perry Johnson, who spent over $30 million on his own campaign. • The results are critical for the broader political landscape as Democrats seek to maximize wins to regain control of the U.S. Senate.

• Progressive candidate Abdul El-Sayed won a highly contested Democratic Senate primary in Michigan, defeating an incumbent Representative. • The election results in Michigan signal a growing voter appetite for a new political direction and a shift toward progressive leadership within the party. • Concurrent House primaries across Michigan, Kansas, and Missouri yielded mixed results, highlighting ongoing ideological battles within the Democratic party.

• The Federal Reserve decided to hold interest rates steady during its most recent meeting, though officials remain divided on the best strategy to combat inflation. • Fed officials emphasized that the decision was not "inertial," asserting that they are actively discussing policy and strategy to stabilize the economy. • Key tools under consideration for controlling inflation include adjusting interest rates, managing the balance sheet, and influencing overall financial conditions and credit availability.

• The FOMC voted to keep interest rates steady during its July meeting, although three members advocated for a rate hike. • Fed Chair Kevin Warsh and other members evaluated several economic pressures, including stubborn inflation, job market patterns, and the impact of the Iran War. • Warsh reaffirmed the central bank's commitment to its 2% inflation goal and the dual mandate of maintaining low inflation alongside a healthy labor market.

• Alphabet reported second-quarter earnings on Wednesday, beating revenue expectations despite the company's stock price declining following the announcement. • The stock dip is primarily attributed to investor concerns over a projected increase in capital expenditures (capex) heading into 2026. • This spending surge is driven by the company's aggressive investments in AI infrastructure to remain competitive in the evolving search and cloud markets.

• ASEAN foreign ministers convened in Manila on July 21 to begin a four-day series of diplomatic talks scheduled to conclude on July 24. • The 59th ASEAN Foreign Ministers’ Meeting focuses on critical regional security issues, including tensions in the South China Sea and the ongoing conflict in Myanmar. • These discussions are vital for maintaining regional stability as the 10 member states navigate the escalating geopolitical rivalry between the United States and China.

• The opening day of India's Parliament Monsoon Session on Monday ended in multiple adjournments due to intense clashes between the government and opposition. • Opposition members demanded urgent discussions regarding the alleged NEET-UG paper leak and the suspected embezzlement of donations intended for the Ayodhya Ram Temple. • Outside Parliament, police used tear gas and lathi-charges to stop a crowd of students and protesters, organized by the Cockroach Janta Party (CJP), from breaching security barricades.

• President Trump delivered a national address on Thursday evening, characterizing the current state of U.S. election security as "indefensible." • During the speech, Trump advocated for the passage of the Save America Act to implement changes to the voting process. • Despite the claims of insecurity, the address provided no new evidence or specific proof to support the allegations of widespread vulnerabilities.

• Federal Reserve Chair Kevin Warsh testified at his first congressional hearing, calling for a "regime change in policy" to improve the central bank's approach. • Warsh explicitly stated that under his leadership, the Fed will no longer be in the "bailout business," contrasting his stance with the $700 billion package used during the 2008 crisis. • The Chair emphasized that "mission accomplished" has not been reached and expressed a need for better data to inform future decision-making.

• Supreme Court Justices Elena Kagan and Amy Coney Barrett visited Capitol Hill to meet with two congressional committees regarding security requests and other judicial matters. • Justice Barrett highlighted the constitutional complexities of establishing an enforcement mechanism for the Court, citing its unique position within the judicial branch of government. • The visit underscores the ongoing tension and dialogue between the judiciary and the legislative branch over oversight and the implementation of legal mandates.

• Major banks reported strong revenue growth driven by equities trading, with Goldman Sachs highlighting a significant surge in investment banking activity. • CEO David Solomon announced that Goldman Sachs' deals backlog has reached its highest level in five years, signaling strong potential for future revenue. • The firm is leveraging its reputation as a premier C-suite advisor to expand business into trading, financing, risk management, and wealth management.

• The Supreme Court concluded its 2025–2026 term with a primary focus on the scope and limits of executive power. • In the *Slaughter* case, the Court affirmed broad presidential control over most "independent" federal agencies. • Conversely, in *Cook*, Chief Justice Roberts ruled against Donald Trump's attempt to fire a Federal Reserve official, citing a need for judicial checks to prevent arbitrary removals.

• President Donald Trump delivered a speech commemorating the 250th anniversary of the signing of the Declaration of Independence, highlighting American military victories and the settling of the West. • The address blended historical tributes with current campaign priorities, including his advocacy for new election legislation and his ongoing criticism of communism. • Trump claimed his first-term military rebuilding efforts were designed to enable the removal of Venezuelan President Nicolas Maduro and the destruction of Iran's military.

• The Supreme Court concluded a divisive term that significantly expanded the executive powers of President Donald Trump. • In a key 6-3 ruling, the court decided that federal courts lack the authority to review the president's decisions regarding the termination of temporary humanitarian protections for individuals from Haiti and Syria. • This shift is critical as it removes judicial oversight from several important administrative decisions, effectively shielding presidential actions from legal challenges.

• The Supreme Court concluded a divisive term marked by several rulings that expanded the executive power of President Donald Trump. • In a 6-3 majority decision, the court ruled that federal courts lack the authority to review the president's decisions regarding the termination of temporary humanitarian protections for people from Haiti and Syria. • This outcome is significant as it effectively removes judicial oversight from specific presidential actions, limiting the ability of courts to challenge executive mandates.

US president raked in more than $1bn from crypto – an industry he has sought to deregulate – and a total $2.2bn last year, documents revealAlarm bells over conflict of interest as filing shows Trump raked in $2bn in 2025Donald Trump’s money-making ventures enriched him by more than $2bn last year, according to newly released financial disclosures.The revenue was supercharged by the Trump family’s crypto projects, with the documents showing the US president made more than $1bn (£0.76bn) from crypto – an industry he has sought to deregulate. Continue reading...

• The Supreme Court concluded a transformative term marked by a mix of rejected Trump-era initiatives and significant, long-sought conservative victories. • In a landmark Monday decision, the Court overturned a 90-year precedent, stripping protections from federal regulators and allowing them to be removed more easily by political leadership. • The conservative majority also narrowed the scope of the Voting Rights Act, potentially enabling Republicans in the South to redraw congressional maps and dismantle majority-Black districts.

• An investigation by AP and “FRONTLINE” reveals that technology from major U.S. companies is fueling the industrialization and globalization of fraud. • Analysis by security nonprofit C4ADS shows that OpenAI’s ChatGPT and Google’s Gemini are primary tools used by scammers to automate replies and create credible fake personas. • These AI tools allow fraud operations to scale rapidly by enabling scammers to work across dozens of languages and track employee performance.

• The government has proposed the "Distressed Asset Management Act, 2026," a draft law designed to formalize a recovery market for bad loans. • The legislation would allow private firms to purchase non-performing loans from banks, seize mortgaged assets, and take over indebted companies. • This move aims to strengthen the overall financial system by providing a structured mechanism to clear bad debts from bank balance sheets.