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Google and Apple Clash With EU Over AI Assistants Across 5 Billion Active Smartphones
On 16 July 2026, the European Union increased its scrutiny of Google and Apple with proposed rules that could change how AI assistants operate on smartphones. The changes could affect more than 5 billion active devices worldwide and reshape competition between Gemini, Siri, and other AI assistants. The EU says the proposals will give consumers…
Tech Stock: SpaceX Shares Retreat to $126 by July 17 After Jumping 19% on IPO Debut
On 17 July 2026, SpaceX shares traded near $126, giving back a large part of the gains made after the company’s much-anticipated IPO. The stock had climbed 19% on its first day of trading and quickly became one of the market’s most closely watched listings. Since then, investor sentiment has shifted from tech stocks, and…
Gulf States Build Pipelines to Bypass Strait of Hormuz as Iran Blocks Oil Route
Gulf nations are building pipelines and ports to bypass the Strait of Hormuz after Iranian attacks disrupted oil exports. Saudi Arabia, UAE, and Iraq plan projects that could carry 14 million barrels per day by 2028.
Showa Holdings Faces Restructuring as Tokyo Court Approves Receivership on July 17
Showa Holdings (5103.T) enters restructuring after losing control of six subsidiaries and key corporate assets. Stock down 66% in one year. Tokyo court approves receivership petition July 17.
US Lets Hong Kong Emergency Expire but Keeps Trade Curbs in Place
US allows Hong Kong national emergency to expire, removing some sanctions but keeping trade restrictions. Executive Order 13936 remains in effect despite China’s claims of restored privileges.
Trump Halts Offshore Wind Projects on National Security Claims; States Sue Back
Trump administration halts offshore wind projects citing national security risks, spending $2.7 billion on lease buyouts. California and other states threaten lawsuits over the decision.
General Dynamics Wins $2B Canadian Armoured Vehicle Deal on July 16
Canada commits $2 billion to buy 190 armoured vehicles from General Dynamics Land Systems-Canada over four years, expanding the military fleet to 550 units and creating 6,000 jobs annually.
SpaceX Stock Crashes Below IPO Price as Rinehart’s A$700m Gain Evaporates
SpaceX shares dropped below their US$135 IPO price, erasing US$903 billion in value. Australian billionaire Gina Rinehart’s estimated A$700m profit from the June listing has been wiped out.
Trump Administration Weighs $100,000 Bond for Green Card Applicants
Trump administration considers requiring green card applicants to post $100,000 refundable bond. Proposal targets those deemed at risk of becoming public charges. Details remain unresolved.