Read Sunday ☕️

Last Week’s Headlines

Economy & World News

• Eurozone Inflation Hits ECB Target
  Inflation in the eurozone reached the ECB’s 2% target in June, meeting forecasts. Services inflation rose to 3.3%.

• Senate Strips AI Clause From Trump Tax Bill
  In a 99-1 vote, the Senate removed a clause from Trump’s tax bill that would’ve blocked states from regulating AI, signaling rare bipartisan consensus.

  • Trump’s $3.3 Trillion Tax Bill Clears Senate
    The U.S. Senate passed Trump’s $3.3 trillion tax and spending bill by a 51-50 vote, securing a major legislative win for Republicans.

• Canada Rescinds Digital Services Tax
  Canada scrapped its 3% digital tax after Trump halted U.S.-Canada trade talks. It was set to hit tech firms Monday.

• EU Backs Trump Tariff Deal With Conditions
  The EU accepted Trump’s 10% universal tariff proposal, but demanded carve-outs for sectors like semiconductors and pharma.

• U.S. Adds 272K Jobs in June, Unemployment Rises to 4.1%
  Strong job gains beat expectations, but unemployment inched up, keeping the Fed in wait-and-see mode.

• Hamas Accepts Cease-Fire Deal
  Hamas has agreed to a proposed 60-day Gaza cease-fire plan, with U.S. assurances on ongoing talks to end the war. The deal includes hostage release mechanisms and is aimed at halting airstrikes and humanitarian crises.

• EU-US Trade Talks on Auto Tariffs
  European carmakers are negotiating with the Trump administration to secure tariff relief in exchange for boosting U.S. investments. Discussions remain ongoing as technical negotiations continue.

• OPEC+ Considers Bigger Oil Boost
  OPEC+ may accelerate oil production increases beyond expectations, eyeing over 500,000 barrels/day as Saudi Arabia looks to reclaim global market share. Trump welcomes lower oil prices to ease inflation.

• Fed Holds Rates, Expects Just One Cut in 2025
  The Fed held steady and slashed its rate cut forecast for 2025 from three to one.

Public Markets

• Musk Takes Over Tesla Sales in U.S. and Europe
  Elon Musk will personally lead Tesla’s sales in the U.S. and Europe following the departure of longtime executive Omead Afshar.

• Tariff truce set to expire on July 9

  A 90-day suspension on reciprocal tariffs under Trump’s “Liberation Day” moniker is expiring July 9. Markets are eyeing whether new tariffs will be imposed or extended or eased via trade deals

• Apple Considers OpenAI or Anthropic for Siri
  Apple is weighing OpenAI or Anthropic to power Siri, marking a major shift away from its in-house AI development.

• AI Chip Crackdown Expands
  The U.S. plans to block AI chip exports to Malaysia and Thailand to prevent backdoor shipments to China. The draft Commerce Dept. rule targets Nvidia shipments and builds on ongoing semiconductor restrictions.

Real Estate & Private Equity

• Blackstone Exits Top Ryde City Mall (Sydney)

  The firm sold its stake in Top Ryde City shopping centre to IPGeneration and MA Financial, marking the end of a 12-year transformation investment totaling roughly A$466 million. The sale, yielding ~7%, underscores stabilization in shopping-center valuations post-pandemic

• Hilco Global to Partner with Orix & Launch Direct Lending Unit

  Hilco Global will sell 70% of its business to Orix in a $1 billion valuation deal and use the capital to expand its private markets lending, especially asset-backed finance. The firm, active in real estate and distressed asset lending, is evolving into a more traditional private credit manager

• KKR Outbids Advent for Spectris (£4.7B Takeover)

  KKR has raised its offer to £4.7 billion (including debt) for Spectris, beating Advent’s £4.4 billion proposal—an almost 96% premium over pre-offer share price. The deal reflects continued interest in UK industrial-tech assets from global PE players

• Blackstone Eyes Full Takeover of UK Warehouse REIT

  Blackstone is re-evaluating its approach after Warehouse REIT (WHRW) accepted a rival bid from Tritax Big Box REIT (£485 million vs. Blackstone’s £470 million). With its prior “no increase” stance now void, a bidding showdown may be imminent — signaling intensifying competition in U.K. warehouse logistics.

M&A, IPO’s, Bankruptcies

•  AbbVie to Acquire Capstan for $2.1B
  AbbVie is buying Capstan for up to $2.1 billion to enhance its immunology pipeline with advanced cell therapy capabilities.

• Figma Files for NYSE IPO
  Design software company Figma has filed to go public on the NYSE under the ticker ‘FIG’, after canceling its deal with Adobe last year.

• Home Depot to Acquire GMS for $4.3B
  Home Depot is acquiring building materials distributor GMS for $4.3 billion through its SRS unit.