A 10% drop in Asian equities since June, driven by a sharp KOSPI plunge, has cut the iShares South Korea ETF by 26% and rattled chip makers. The sell‑off raises doubts about AI‑fuelled demand for memory and high‑bandwidth chips, potentially choking the hardware supply chain that underpins the global AI boom.
The International Chamber of Commerce, working with UNOPS, UNCTAD and IMO, unveiled a time‑bound mechanism to register, de‑conflict and monitor vessel movements through the Strait of Hormuz, focusing first on fertiliser shipments. With traffic down over 95% and up to 45 million people at risk of acute food insecurity, the plan could unclog a chokepoint that’s crippling global energy and food markets.
Adjusted net income rose to $33.4 billion, a 33% jump from $25.2 billion a year earlier, beating Bloomberg estimates of $31.1 billion. The surge came as higher oil prices, driven by the US‑Iran conflict, lifted revenues, while Aramco kept exports steady via its East‑West pipeline that sidesteps the Strait of Hormuz.
The FAA issued an amended type certificate for Boeing’s 737‑7, the smallest and longest‑range member of the MAX family. The approval ends a decade‑long certification saga, lets Boeing ship the jet to Southwest and other carriers, and adds a 20% more fuel‑efficient, quieter option to its lineup.
BP reported underlying replacement‑cost profit of $5.7 bn in Q2 2026, a 144 % rise versus the prior quarter, driven by soaring oil prices. The surge lifts cash flow above $10 bn and strengthens the balance sheet, underscoring how the current energy shock is directly boosting shareholder returns.
Microsoft’s FY26 Q4 earnings beat expectations, reporting $90 billion in revenue (up 18%) and $35.8 billion net income (up 31%). The results, powered by Azure crossing $100 billion and 30 million paid Copilot seats, sparked a stock rally the longest in 26 years, wiping out the year‑to‑date decline.
SpaceX will post its Q2 2026 financials after market close on Aug 4, 2026, with a live audio webcast at 4:30 p.m. ET. Two days later, the lockup expires, freeing up to 911 million shares, about 12% of the company, for insider sale, putting immediate supply pressure on the stock.
The Fed’s 2 % inflation goal traces back to a casual 1988 TV interview in New Zealand, not academic research. Roger Ferguson Jr. explains how that off‑hand comment became the default benchmark for central banks worldwide, and why its relevance is under debate as inflation stays above target.
Amazon completed a $50 billion purchase of roughly a 5% stake in OpenAI after Microsoft lifted its exclusivity clause. The cash backs AWS with exclusive cloud capacity and Trainium hardware, yet Microsoft stays the primary distribution partner and holds a non‑exclusive license to OpenAI models through 2032.
Visa announced a $2.4 billion cash purchase of Israeli fraud‑detection startup BioCatch. The deal gives Visa access to BioCatch's behavioral‑biometrics platform, a tool banks are turning to as AI‑generated scams and account takeovers surge. It bolsters Visa’s fast‑growing value‑added services unit and underscores the industry’s race to shore up cyber defenses.
You’re caught up.
That was all 10 stories in the 4 August issue.