Topic: #politics
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ERG: Military-backed intruders resume illegal cobalt extraction at Metalkol
Eurasian Resources Group says soldiers and armed cooperatives have resumed illegal mining at its Metalkol cobalt operation in Congo's Kolwezi region, threatening to slash the mine's operational life and jeopardizing billions in future revenue amid enforcement gaps in the DRC's mining sector.
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RBA's Sarah Hunter signals willingness to slow economy to tame inflation
The Reserve Bank of Australia's Assistant Governor for Economics warned that containing inflation within the 2-3% target band may require deliberately weakening economic growth and accepting higher unemployment, echoing the painful 1990s recession.
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Bank of America: Fed rate hikes add $50B to annual T-bill costs
Bank of America estimates that Federal Reserve rate hikes could add roughly $50 billion in annual interest costs on outstanding Treasury bills, highlighting the fiscal strain from the government's reliance on short-term borrowing.
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Bank of Japan to raise rates to 1.25% in September, adviser projects
An economic adviser to Prime Minister Sanae Takaichi projects the Bank of Japan will raise its policy rate to 1.25% in September, marking Japan's highest level in decades amid yen weakness and inflation concerns.
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US disables Iranian shadow-fleet tankers after IRGC missile attacks
US Central Command disabled three Iranian shadow-fleet tankers on September 5, 2026, in direct retaliation for Islamic Revolutionary Guard Corps missile attacks on Navy vessels, marking an escalation in regional tensions and potential disruption to global oil markets.
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NFL warns prediction markets to remove contracts ahead of 2026 season
The NFL sent a warning letter to prediction market platforms in early September 2026, demanding removal of event contracts it considers threats to game integrity, targeting platforms like Kalshi and Polymarket with four specific categories of banned contracts.
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Barclays warns investors to trim risk ahead of volatile September 2026
Barclays advised equity investors to reduce portfolio risk heading into fall 2026, citing historical September weakness, midterm election volatility, and anticipated blockbuster AI IPOs that could strain capital markets.
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Trump raises tariffs on Chinese goods to 20%, reigniting trade tensions
President Trump has pushed cumulative tariffs on Chinese imports to 20%, marking another escalation in trade policy after a brief November 2025 truce. The move follows a Supreme Court ruling in February that struck down emergency tariff powers, while Chinese exporters continue rerouting shipments to dodge duties.
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Indonesian Government Bonds Attract Foreign Inflows for First Time Since Pre-Pandemic
Foreign investors returned to Indonesian government bonds at the fastest pace since before COVID-19, with roughly $9 billion in inflows through mid-2026, reversing years of capital outflows driven by higher interest rates and improving market conditions.
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Senators Moreno and Lummis Back Credit Card Competition Act Against Visa, Mastercard
Senators Bernie Moreno and Cynthia Lummis cosponsored the Credit Card Competition Act in early August, legislation reintroduced in January 2026 with bipartisan backing that aims to reduce Visa and Mastercard's pricing power by requiring large banks to enable competing payment networks.
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Treasury Secretary Bessent urges Fed rate cuts as core inflation cools to 2.6%
US Treasury Secretary Scott Bessent says core inflation is cooling and the Federal Reserve should cut rates to sustain economic growth. Core CPI dropped to 2.6% in June, down from 2.9% in May, with service inflation also easing.
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Senate races to pass CLARITY Act before August recess amid GOP opposition
The CLARITY Act, which would regulate stablecoins and digital asset platforms, enters its final week before the Senate's August recess with a 30% passage probability. Republican and Democratic objections threaten to derail the bill by Friday.
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Senate passes bipartisan bill for 100% tariffs on Russian energy
A bipartisan group of US senators agreed on legislation that would authorize tariffs as high as 100% on major purchasers of Russian oil and gas, while extending sanctions against Iran through 2031. The bill also aims to close loopholes in Russia's shadow fleet and delayed progress on crypto regulation.
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OpenAI establishes Dublin as EU headquarters, plans 400-person EMEA hub
OpenAI designated Dublin its official European Union headquarters and committed to hiring up to 400 employees over three years as part of an aggressive continental expansion, supported by roughly €105 million in Irish investment.
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CLARITY Act passage odds fall to 30% as Senate faces July 30 deadline
Galaxy Digital cut its estimate for CLARITY Act passage to 30% from 50%, saying the Senate must strike a deal by July 30 to allow floor proceedings before August recess. Republicans control 53 seats but need 60 votes to overcome a filibuster.
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China's retail sales fall 0.6% in May as Q2 GDP slows to 4.3%
China's retail sales contracted 0.6% year-over-year in May 2026, marking the first decline since December 2022, while second-quarter GDP growth slowed to 4.3%, the weakest pace in over three years. The deceleration signals broad economic weakness with potential ripple effects across global risk assets.
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OKX Appoints Andrew Cuomo to Board Amid Crypto Regulatory Push
OKX named former New York Governor Andrew Cuomo to its board this month, formalizing a two-year advisory relationship as the exchange and its partners build infrastructure for tokenized assets and institutional derivatives amid rapid market growth.
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US Treasury Recovered $4B in Fraudulent Payments in FY2024
The US Treasury recovered and prevented over $4 billion in fraudulent or improper disbursements in fiscal year 2024, a sixfold jump from $652.7 million the prior year, driven by AI screening and pre-payment verification tools.
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Russian airstrike kills five on cargo ship at Odesa port, escalating Black Sea risk
A Russian airstrike struck a Togolese-flagged cargo ship unloading fertilizers at Odesa port on July 13, killing five people including three foreign crew members and injuring ten. The attack intensifies threats to global wheat and fertilizer supply chains already disrupted by recurring strikes on Ukrainian port infrastructure.
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US national debt hits $39 trillion amid Treasury market weakness
The US national debt reached roughly $39 trillion by mid-2026, with annualized net interest costs crossing $1 trillion. Rising Treasury yields and weaker auction demand signal structural stress, though stablecoins may provide new demand for short-term securities.
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Iran strikes US bases in Kuwait, Jordan; crypto markets spike
Iran's Islamic Revolutionary Guard Corps claimed responsibility for missile and drone strikes on US military installations in Kuwait and Jordan on July 16, marking a major escalation in the Gulf conflict that began in February 2026 and has previously wiped billions from crypto valuations.
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US deficit hits $1.37 trillion in fiscal 2026 amid spending surge
The US federal government collected $4.15 trillion but spent $5.52 trillion through nine months of fiscal 2026, creating a $1.37 trillion deficit. Revenue grew 4% year-over-year, yet spending outpaced it, pressuring Treasury yields and potentially weakening the dollar.
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White House posts 129-to-1 deregulation ratio, revokes Biden digital asset rules
The Spring 2025 Unified Agenda revealed 646 finalized deregulatory actions versus 5 new regulatory ones, a 129-to-1 ratio that far exceeds the administration's stated 10-to-1 target. The push includes revoking Biden's digital asset framework and establishing a pro-innovation working group.
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Anduril CEO warns defense tech sector faces valuation bubble risk
Anduril Industries CEO Brian Schimpf warned that defense tech firms are raising capital at unsustainable multiples, with some commanding 50 to 100 times forward revenue, threatening future public market exits and investor returns.