Iran, the Strait of Hormuz, and Markets
Trump halts strikes on Iran at the last minute; Iran denies talks. President Trump cancelled a threatened attack on Iran over the weekend, citing progress in negotiations over the Strait of Hormuz. Iran said there are no current talks with the United States.
Trump promises new Iran talks; Tehran touts a Hormuz shipping deal with Oman. Trump said talks would resume Monday, while Iran highlighted a Strait of Hormuz shipping arrangement with Oman.
IRGC says it intercepted a drone over the Strait of Hormuz. Iran’s Revolutionary Guard Corps reported downing a drone over the strait.
Markets rally on de-escalation. U.S. equity futures rose early Monday after Trump called off the planned strikes, with the Dow up around 500 points and Brent crude falling more than 5%. Investors remained skeptical the calm would last.
Middle East
Israel escalates deadly attacks on Gaza, defying Trump’s peace plan. Israel escalated its Gaza offensive and pushed hardline demands, threatening the US-backed peace roadmap.
Israel extends emergency army mobilisation by two months.
Israel destroys West Bank wells serving Palestinian herders. Palestinian herders say the destruction of wells is intended to force them off the land: “They want to make us leave.”
How loyalty between Iran and Kuwait gave way to mistrust.
A new generation of Tunisians prepares for Ennahda’s return.
Europe & Migration
Spain grapples with the aftermath of the Ceuta migration surge. More than 60,000 migrants crossed into the Spanish enclave of Ceuta on July 30–31. In the Moroccan town of Fnideq, parents are gathering at the border fence waiting for news of their children, and Spain says it “expects solidarity” in handling the aftermath.
South-eastern Europe faces a heatwave energy crunch. Romania detonated Danube rock to increase water flow as the region braces for a heatwave-driven energy squeeze.
Russia, Ukraine & Asia
Russia blames Ukraine for a deadly Moscow restaurant bombing.
Ukraine strikes Russia’s biggest retailer again. Ukraine hit another warehouse belonging to Russian e-commerce giant Wildberries in a long-range drone attack.
Russia and North Korea build their first road connection. In Russia’s far east, the two countries are constructing their first road link, a project raising alarm in Ukraine.
Red Cross visits Aung San Suu Kyi. The ICRC visited Myanmar’s detained former leader after the military was pressed to prove she is alive; newly released photos show her appearing healthy in her first confirmed outside contact in 2.5 years.
Singapore bans Massive Attack for displaying a Palestinian flag. The British group was punished under Singapore’s racial-harmony policy, long criticized as stifling free speech.
Africa
Sudan army drone strike on a court session kills 35, rights group says. The army has not commented on claims that civilians died in the attack on a paramilitary-held village.
United States & UK Politics
Todd Blanche formally withdraws Trump’s “anti-weaponisation” fund plan. Two Republican senators sought a written guarantee that Trump would not revive the controversial proposal; Blanche said he reached a deal with senators after a standoff.
UK: Restore leader accuses Farage of “outright lying” over a pact offer. The Restore leader said his party “remains open” despite the dispute.
UK manufacturing growth picks up as Trump tariff chaos eases.
Business, Markets & Tech
Curium strikes a deal worth up to $8 billion for radiopharma peer Lantheus.
SpaceX’s first-ever earnings report draws attention — for the commentary, not the numbers. Investors are focused on Elon Musk’s remarks and the potential for added stock volatility.
Fed credibility in focus. BofA’s Mark Cabana said the Fed now has a credibility issue after last week’s rate decision, while Fed Chair Kevin Warsh is reportedly mulling changes to the frequency and timing of policy meetings.
DeepSeek’s latest model is by far the cheapest major model to run. Artificial Analysis found DeepSeek’s V4-Flash costs 3 cents per test run, versus $3.15 for Anthropic’s Claude Fable 5.
Congress spends nearly all of its AI budget on ChatGPT. House disbursement records show at least $100,580 spent on ChatGPT in a year, with Anthropic’s Claude a distant second at $13,160.
Silicon Valley’s China lobbying raises “mutual suspicion” concerns. The US tech industry’s increasingly hawkish stance toward China has alarmed observers who warn it could deepen mistrust between the two countries.
BitGo launches Link, connecting clients to Coinbase, Kraken, Crypto.com and more.
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