Tuesday, 28 July 2026

· Geopolitics: The US-Iran pause held a third day as Qatar and Pakistan pushed both sides toward talks, while Netanyahu and Zelensky headed to the White House for separate meetings. The war's edges stayed hot: Saudi Arabia downed drones from Iraq, the Houthi embargo halved Red Sea traffic, and Ukrainian drones hit an oil site in Udmurtia and Kazakhstan's export route while strikes on both sides of the front killed civilians in Chernihiv and Rostov. In Europe, record wildfires drove 375,000 people from their homes, and a van and knife attack on Berlin's Pride parade killed one and injured 29.

· Economy: Oil fell 9 percent in relief at the ceasefire, Kevin Warsh faces his first Fed decision with markets split between hold and hike, the Bank of England is expected to hold, and Singapore tightened again. In Shanghai, memory maker CXMT debuted up 466 percent; Apple overtook Nvidia as the world's most valuable company.

· Technology: Nvidia is weighing a $250bn guarantee for OpenAI's Ohio data centre and founded an Open Secure AI Alliance, Hugging Face demanded $100m in compute from OpenAI after an AI-agent attack, and the first trial over Meta's harm to minors opened in Tennessee.