World
AI Summary
- The Bank of Japan has enacted its first interest rate hike in 31 years, raising rates to 1% and signaling an end to its bond purchase reductions, a significant move in global monetary policy.
- SpaceX has made a substantial acquisition, purchasing AI coding firm Cursor for $60 billion amidst a heated race for advanced AI capabilities, underscoring the tech sector's rapid evolution.
- US housing starts experienced a sharp decline in May, reaching their lowest point since the COVID-19 pandemic, indicating a potential slowdown in the construction and real estate sectors.
- Yum Brands is divesting its Pizza Hut U.S. operations to private equity, signaling a strategic shift and an attempt to revitalize the struggling pizza chain.
- Dismal retail sales data from China has led to a drop in Chinese stocks and the yuan, highlighting economic challenges within the world's second-largest economy.
ZeroHedge
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Bank Of Japan Raises Rates To 1% For The First Time In 31 Years, Will Stop Reducing Bond Purchases
an hour ago
by Tyler Durden
Bank Of Japan Raises Rates To 1% For The First Time In 31 Years, Will Stop Reducing Bond Purchases As widely expected, the BoJ raised the policy rate by 25bp to "around 1%" (there was one dissent from newly appointed dovish board member Asada for a hold) taking the cost of borrowing to its highest level in 31 years as the country adjusts to sustained inflation. The 0.25% increase, which was widely expected, takes Japan to what analysts said was a critical milestone in the central bank’s effort of normalizing monetary policy after years of ultra-low interest rates and deflation.
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"They Will Hear From Our Lawyers": Elon To Sue German Broadcaster Over Claim He Told Belfast Protesters To 'Hunt Migrants'
2 hours ago
by Tyler Durden
"They Will Hear From Our Lawyers": Elon To Sue German Broadcaster Over Claim He Told Belfast Protesters To 'Hunt Migrants' Via Remix News , Tech trillionaire Elon Musk has said he will take legal action against German public broadcaster ZDF after it linked him to unrest in Belfast and accused him of helping instigate a "hunt" against migrants. The dispute followed the attempted beheading of a man in Northern Ireland by a Sudanese migrant, which prompted British right-wing activist Tommy Robinson to call for nationwide protests. Musk shared Robinson's post on X and added, "Only through repeated and loud protests
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China's DRAM Giant CXMT Gets Final Nod For Largest Mainland IPO Since 2022
2 hours ago
by Tyler Durden
China's DRAM Giant CXMT Gets Final Nod For Largest Mainland IPO Since 2022 Chengxin Memory Technology, China’s leading maker of DRAM (dynamic random-access memory) chips, has had its initial public offering approved by the country’s securities watchdog, clearing the way for the Chinese mainland’s biggest stock market listing since 2022. CXMT’s registration to go public on Shanghai’s Nasdaq-style Star Market became effective on June 12. The Hefei-based company is planning to raise CNY29.5 billion (USD4.4 billion) by issuing 10.6 billion shares, which would also make it the Star Market’s second-largest IPO. As the only Chinese integrated devices manufacturer that has
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Yum Unloads Pizza Hut Chain As Private Equity Takes On Turnaround Challenge
2 hours ago
by Tyler Durden
Yum Unloads Pizza Hut Chain As Private Equity Takes On Turnaround Challenge Yum! Brands agreed to sell its iconic Pizza Hut chain for $2.7 billion following a strategic review, separating the struggling pizza brand from its broader restaurant portfolio, which includes KFC, Taco Bell, and The Habit Burger Grill. LongRange Capital will acquire Pizza Hut's business outside China for $1.5 billion, while Yum China will buy the China business for $1.2 billion. Both transactions are expected to close in the third quarter. The Stamford, Connecticut-based private equity firm typically invests in middle-market businesses, usually with a longer-term, operationally focused approach.
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Chinese Stocks, Yuan Drop After Dismal Data Dump: Worst Retail Sales Since COVID
2 hours ago
by Tyler Durden
Chinese Stocks, Yuan Drop After Dismal Data Dump: Worst Retail Sales Since COVID China’s consumer spending and investment slumped in May to levels unseen since the pandemic , exposing risks for an increasingly two-speed economy, as Bloomberg's Chang Shu and Eric Zhu noted: "The supply side remains robust , driven by faster-than-expected expansion in exports and AI tech sectors. The demand side has faltered , with consumption and private non-tech investment plummeting." Here's the details: Industrial Production Industrial production (IP) growth rose modestly to 4.5% yoy from 4.1% yoy thanks to stronger-than-expected exports , although automobile output growth remained weak
The Guardian
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South African jazz pianist Abdullah Ibrahim dies aged 91
a day ago
by Benjamin Lee
Jazz, South Africa, Africa, Music, CultureThe accomplished musician, who recorded over 70 albums in his career, died peacefully in Germany after a short illness The South African jazz composer and pianist Abdullah Ibrahim has died at the age of 91. His family announced his death in a statement released on Monday. Continue reading...
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Violent attacks on schools, pupils and staff around the world up by 40%, says study
a day ago
by Sarah Johnson
Global development, Children, Education, Conflict and arms, Society, International law, Human rights, Schools, Lebanon, Special educational needs, World news, Middle East and north Africa, Geneva conventions, Law, Nigeria, Africa, Myanmar, Cameroon, Yemen, Colombia, HaitiCases reported in 83 countries, with at least 10,600 students and staff killed, injured, abducted or arrested, GCPEA says Attacks on education globally have surged by 40% with more than 8,556 recorded incidents and 10,600 students and staff killed, injured, abducted, arrested or otherwise harmed in 2024 and 2025, according to new research. Attacks were reported in 83 countries, with the highest incidences recorded in Colombia, the Democratic Republic of the Congo, Ethiopia, Haiti, Palestine and Ukraine. Continue reading...
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London council seizes social housing flat rented by Sierra Leone first lady
5 days ago
by Sundus Abdi
Social housing, Housing, Communities, Society, London, UK news, Local government, Sierra Leone, AfricaFatima Jabbe-Bio kept tenancy in Southwark despite living for much of year at presidential lodge in Freetown A social housing flat rented by Sierra Leone’s first lady has been seized by a London council. Southwark council confirmed it had repossessed the two-bedroom home in Walworth previously occupied by Fatima Jabbe-Bio, whose tenancy was reported by the Times last year. Continue reading...
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Trump targeting immigrants from countries hit most by climate shocks
6 days ago
by Oliver Milman
US immigration, Climate crisis, Refugees, Trump administration, Donald Trump, Fossil fuels, Hurricanes, Extreme heat, Flooding, Drought, Wildfires, Extreme weather, Pollution, Environment, United Nations, Chad, Niger, Sudan, Somalia, Sierra Leone, Honduras, Syria, Haiti, Africa, Americas, Caribbean, Middle East and north Africa, US politics, US news, World newsA Guardian analysis reveals how most of 39 countries facing US entry restrictions are most vulnerable environmentally ‘Every day it’s more barriers’: how the US is shutting out climate refugees Donald Trump ’s immigration crackdown is largely targeting people from the countries most vulnerable to displacement from climate-driven disasters, a Guardian analysis shows. As the Trump administration pushes policies to boost planet-heating fossil fuels , millions of people are being forced to flee their homelands due to storms, floods and droughts worsened by the climate crisis . Continue reading...
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Global brands ‘likely’ using mineral that funds rebels accused of atrocities in DRC, investigation finds
6 days ago
by Mark Townsend
Global development, Conflict and arms, Mining, Technology, Democratic Republic of the Congo, Rwanda, Africa, Amazon, Sony, Microsoft, Nvidia, World news, Business, Human rightsAmazon and Sony among firms that may have sourced coltan, used in phones, from supply chains controlled by the M23 rebels, says Global Witness Leading global brands including Amazon, Ericsson and Sony are “likely” to have sourced minerals linked to a militia accused of widespread sexual violence, summary executions and torture, a new investigation claims. The companies allegedly, but unknowingly, acquired coltan smuggled from mines in the Democratic Republic of the Congo (DRC) that are occupied by the M23 militia , which has committed myriad atrocities in eastern DRC. Continue reading...
South China Morning Post
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EU bows to Trump pressure on tariffs but warns of future chaos
2 hours ago
by Reuters
The European Parliament approved on Tuesday cutting duties on many US goods imports to fulfil the European Union’s side of a trade deal struck last year, and avert a new round of tariff conflict between the world’s largest trading partners. US President Donald Trump struck a framework deal with the European Union at his Turnberry golf course in Scotland last July under which the EU agreed to remove import duties on US industrial goods in return for tariffs of 15 per cent on most EU...
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Is Europe declining faster than Qing China? A Chinese-French debate
3 hours ago
by Alex Lo
Is the economic decline of Europe worse than the last decades of the Qing dynasty? That’s a question posed by Luis Vassy, director of Sciences Po, one of France’s premier universities. It has caused something of a stir in Europe and China. “The European Union has seen its share of the world economy fall from 30 per cent to 17 per cent between 2008 and 2025, a span of 17 years,” he wrote in Le Grand Continent, a European current affairs publication, last week. “China covered the same distance...
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Trump urges Russia to ‘make a deal’ with Ukraine after meeting Zelensky at G7 summit
4 hours ago
by Reuters
US President Donald Trump said on Tuesday that Russia should make a peace deal with Ukraine, adding that he would do what he could to end the war after a “very good” meeting between President Volodymyr Zelensky and Group of Seven leaders at a summit in France. Trump arrived at the G7 summit in the lakeside resort of Evian-les-Bains brandishing a preliminary deal to end the conflict with Iran and with a renewed focus on finishing the war in Ukraine. Trump cheered his meeting with Zelensky and...
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Swede who ‘ruthlessly’ prostituted wife to over 100 men jailed for 4½ years
5 hours ago
by Agence France-Presse
A Swedish court on Tuesday sentenced a 61-year-old man to four years and five months in prison for having “ruthlessly exploited” his wife to have sex with scores of men for payment. The man was convicted of “aggravated pimping” as well as attempted rape, assault and issuing threats, as well as a minor drug offence, the court said in a statement, noting the actions took place over three years. “The district court has found that the man was the one who initiated the woman’s entry into prostitution...
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Iran says US peace deal must include permanent Lebanon ceasefire
6 hours ago
by Agence France-Presse
Iran’s Foreign Minister Abbas Araghchi said on Tuesday that ending the war on all fronts, including in Lebanon, was “the most important” issue in the peace deal with the United States announced the day before. “The important point I want to emphasise here is that in our view, there are two parties to this memorandum – one side is America and Israel, and the other side is Iran and Hezbollah,” said Araghchi during a briefing with foreign diplomats broadcast on state television. “This is perhaps...
New York Times
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The Iran War Permanently Altered the Global Economy
7 hours ago
by Patricia Cohen
US and Israeli Attack on Iran (2026), Foreign Aid, Prices (Fares, Fees and Rates), Economic Conditions and Trends, Trump, Donald J, Iran, Middle EastThe global order has been altered, and economies are unlikely to simply pick up where they left off before the U.S. and Israel began bombing Iran.
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Iran Will Enter Nuclear Talks Feeling Emboldened
4 hours ago
by Yeganeh Torbati
International Relations, US and Israeli Attack on Iran (2026), Trump, Donald J, Khamenei, Mojtaba (1969- ), Netanyahu, Benjamin, Nuclear Weapons, Iran, Strait of HormuzDespite military setbacks during the war, Tehran is presenting a narrative of victory before negotiations with Washington.
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A Times Investigation Into Epstein’s Death, and Why Gas Prices Might Stay High
4 hours ago
by Tracy Mumford, Will Jarvis, Margaret Kadifa, Jake Lucas, Ian Stewart and Steve Eder
Prices (Fares, Fees and Rates), Oil (Petroleum) and Gasoline, US and Israeli Attack on Iran (2026), United States Politics and Government, Iran, Epstein, Jeffrey E (1953- )Plus, a counterclockwise mystery.
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Six Takeaways From the Times Investigation Into Epstein’s Death
7 hours ago
by Charles Homans, Steve Eder, Jan Ransom and Michael Rothfeld
Epstein, Jeffrey E (1953- ), Suicides and Suicide Attempts, Forensic Science, Metropolitan Correctional Center (Manhattan, NY)We considered every plausible theory of his death, both official and otherwise, seeking out the most persuasive arguments and evidence for each.
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Why the Iranian Team Is in a Tough Spot at the World Cup
an hour ago
by The New York Times
At its first game, the team drew spectators who weren’t coming for the soccer, but rather to protest the regime in Tehran.