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Last Week’s Headlines

Economy & World News

• China's Exports and Imports Surprise in June
  China’s exports beat expectations in June as businesses rushed to ship goods before a looming August tariff deadline. Meanwhile, imports rose for the first time this year, signaling some recovery in domestic demand.

• China’s Q2 GDP Growth Slows to 5.2%
  China’s economy grew 5.2% in the second quarter, down from earlier momentum, as U.S. trade tensions and weakening global demand cloud the outlook.

• India’s Inflation Drops to 6-Year Low
  India’s consumer inflation cooled to 2.1% in June, its lowest in over six years, creating room for potential rate cuts amid external pressures like Trump-era tariffs.

• Trump Threatens Russia with 100% Tariffs
  Donald Trump issued a 50-day ultimatum to Vladimir Putin, threatening 100% tariffs unless a peace deal is reached in Ukraine. The announcement came alongside a new U.S.-NATO weapons arrangement.

• Polymarket Probe Dropped by DOJ Under Trump
  The DOJ ended two investigations into crypto-betting platform Polymarket, a move seen as favorable for the crypto industry as Trump’s administration signals support for digital assets.

• Trump Tariffs Indonesia, Strikes Boeing Jet Deal
  Indonesia will face a 19% tariff on its exports to the U.S., but in return, the country agreed to purchase over $19 billion in American goods, including 50 Boeing jets, under a new trade deal brokered by Trump.

• Fed Chair Pick Kevin Warsh Signals Support for Rate Cuts
  Kevin Warsh, considered a top contender to succeed Jerome Powell as Fed Chair, has shifted his stance and now supports interest rate cuts—aligning with Trump’s push for looser monetary policy.

• Trump Eyes Drug Tariffs by August 1
  President Trump said tariffs on pharmaceuticals could begin as soon as August 1, with potential follow-on tariffs targeting semiconductors as part of a broader “reciprocal” trade strategy.

• USTR Launches Trade Probe Into Brazil
  The U.S. Trade Representative has opened a Section 301 investigation into Brazil, citing unfair trade practices including tariffs, corruption interference, and digital trade restrictions, just a week after Trump threatened a 50% tariff on the country.

• Inflation Rises to 2.7% in June
  U.S. inflation climbed to a 2.7% annual rate in June, in line with expectations. President Trump used the report to renew pressure on the Fed to cut interest rates.

• Trump Says Crypto Bills Now Have Support to Advance
  After initially failing in the House, Trump-backed crypto regulation bills now appear to have the votes to move forward, marking a potential legislative win for the digital asset industry.

• Trump Orders DOJ to Reverse Visa Crackdown on Indian Students
  President Trump directed the DOJ to reverse recent visa restrictions on Indian students, aiming to strengthen tech ties and appease India ahead of a potential trade deal.

• India and U.S. to Finalize Trade Deal
  India and the U.S. are nearing a $20 billion trade deal focused on agriculture, semiconductors, and EV supply chains. The agreement is expected to be signed by the end of July.

• U.S. Raises Tariffs on Dutch Electric Trucks
  The U.S. is increasing tariffs on electric trucks from the Netherlands by 35%, citing unfair subsidies and trade imbalances, further escalating transatlantic tensions.

• Trump Announces $4B in Tariffs on Argentina and Chile
  President Trump introduced $4 billion in new tariffs targeting lithium and agriculture products from Argentina and Chile, aiming to promote U.S. supply chains and punish currency manipulation.

• China Blocks Micron Chips from Military Use
  Beijing has barred Micron Technology’s chips from military procurement programs, escalating the chip war as the U.S. clamps down on China’s semiconductor access.

• AI Startups Surge in M&A as Talent Race Intensifies
  Big tech companies are accelerating acquisitions of AI startups in deals worth over $20 billion YTD, as competition for top engineering teams and proprietary models heats up.

• House Ends Funding for PBS, NPR Amid $9B Spending Cuts
  In a narrow 216-213 vote, the House eliminated federal funding for PBS and NPR after passing a $9 billion package of spending cuts driven by Elon Musk’s government efficiency task force. The move marks the end of five decades of public media support, as Trump pushes more DOGE (Department of Government Efficiency) bills through Congress.

Public Markets

•  Google Signs $3B Hydropower Deal
  Google signed a $3 billion U.S. hydropower agreement, the largest clean energy deal of its kind, as it ramps up renewable energy investments to support data centers and AI infrastructure.

• Apple to Invest $500M in MP Materials
  Apple will invest $500 million in rare earths producer MP Materials to secure a domestic supply chain for critical minerals used in electronics and EVs.

• Oracle Commits $3B to AI Cloud Expansion
  Oracle is investing $3 billion to grow its AI and cloud operations in Germany and the Netherlands, expanding its global data center footprint to meet surging demand.

• Amazon-Backed Anthropic Targets Finance Sector
  Anthropic, backed by Amazon, launched a financial services platform as part of its AI expansion, signaling a push into industry-specific solutions for banks and fintech firms.

• Nvidia to Resume AI Chip Sales to China
  In a sharp policy reversal, the U.S. will allow Nvidia to resume exports of its H20 AI chips to China after greenlighting specific licenses, easing prior restrictions related to national security.

• Samsung to Open $17B Texas Chip Plant in October
  Samsung will open its $17 billion chip fabrication plant in Texas this October, accelerating efforts to build a U.S.-based semiconductor supply chain.

• Meta’s OpenAI Rival ‘Aurora’ Launches Early
  Meta quietly launched its new AI model, Aurora, ahead of schedule. The model will compete with OpenAI’s GPT-5 and is being deployed to Meta’s business tools and ad platform.

Real Estate & Private Equity

•  White House to Allow 401(k)s to Invest in Private Equity
  The Trump administration is preparing an executive order that would enable 401(k) retirement accounts to allocate funds to private equity investments, potentially expanding retail investor access to alternative assets.

• Blackstone to Invest $25B in Pennsylvania Infrastructure
  Blackstone will invest over $25 billion into Pennsylvania’s digital and energy infrastructure, including data centers and natural gas facilities, with plans to catalyze an additional $60 billion in outside capital. The project is expected to support over 6,000 jobs annually during its 10-year buildout.

• Eli Lilly Plans $2B Weight-Loss Drug Plant in Indiana
  Eli Lilly is investing $2 billion in a new Indiana facility to ramp up production of its blockbuster weight-loss drug, Zepbound, amid explosive demand.

M&A, IPO’s, Bankruptcies

• Cognition Buys Windsurf After Google, OpenAI Drama
  Cognition acquired AI startup Windsurf after OpenAI’s $3B offer fell through and Google hired away key execs. The deal includes IP, product, and Windsurf’s entire 250-person team.

• Aquarian in Talks to Acquire Brighthouse Financial
  Aquarian Holdings is in exclusive talks to acquire Brighthouse, a major U.S. life insurer. The potential deal underscores growing private equity interest in the insurance space.

• Novo Nordisk Buys U.S. Biotech for $7.2B
  Novo Nordisk agreed to acquire biotech firm Inverso Therapeutics for $7.2 billion, boosting its metabolic disorder pipeline and deepening its U.S. market footprint.