Oil jumped as the US and Iran exchanged fresh strikes , with the sides offering conflicting statements on whether the Strait of Hormuz remains open to shipping. Brent rose above $78 a barrel after gaining 5.4% last week, while West Texas Intermediate traded near $74 and European natural gas added as much as 2.7%. Iran said the strait would now be closed “until further notice” — a statement denied ...
Oil jumped as the US and Iran exchanged fresh strikes , with the sides offering conflicting statements on whether the Strait of Hormuz remains open to shipping. Brent rose above $78 a barrel after gaining 5.4% last week, while West Texas Intermediate traded near $74 and European natural gas added as much as 2.7%. Iran said the strait would now be closed “until further notice” — a statement denied by US Central Command, which said that its forces started more attacks to ensure freedom of navigation through the waterway. The uncertainty is reinserting a war premium into crude prices, which had erased gains after an interim peace deal between the sides offered the prospect of more supply from the Persian Gulf. The flare-up risks derailing efforts to rebuild depleted global oil inventories later this year, the International Energy Agency said on Friday — a reminder of what’s at stake for the global economy if the conflict continues. There was almost no traffic through the strait — which normally carries about a fifth of global crude and liquefied natural gas supply — on Sunday, with only two oil products tankers seen approaching the chokepoint. Even so, the Joint Maritime Information Center said the southern shipping lane coordinated by Oman remains available . The latest escalation also dimmed prospects for diplomacy. Iran’s Parliament Speaker and top negotiator Mohammad Bagher Ghalibaf declared the “ era of one-sided deals is OVER ,” while Tehran insisted Washington must first honor prior commitments on Hormuz transits and the normalization of its oil exports before talks can resume. US President Donald Trump, meanwhile, declared the ceasefire “ OVER ” but said the US remained willing to continue negotiations. To get Bloomberg’s Energy Daily newsletter in your inbox, click here . Brent for September settlement rose 3.6% to $ 78.78 a barrel at 6:10 a.m. in Singapore. WTI for August delivery climbed 3.6% to $ 74.01 a barrel.
Jeffrey H. Kupor, a senior managing director of Invesco Ltd. (NYSE:IVZ) , executed a non-discretionary disposition of 26,002 shares on July 2, 2026, according to an SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average sale price ($27.01); post-transaction value based on July 02, 2026 market close ($27.01). Invesco Ltd. is a global asset management firm operating from its Atla...
Jeffrey H. Kupor, a senior managing director of Invesco Ltd. (NYSE:IVZ) , executed a non-discretionary disposition of 26,002 shares on July 2, 2026, according to an SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average sale price ($27.01); post-transaction value based on July 02, 2026 market close ($27.01). Invesco Ltd. is a global asset management firm operating from its Atlanta headquarters. The company has established a diversified financial services platform spanning multiple asset classes and distribution channels, positioning itself as a significant player in the competitive asset management industry. With TTM revenue of $6.6 billion, Invesco leverages scale and product breadth to compete across institutional and retail segments. Continue reading
Wu Shicun is the founding president of China’s National Institute for South China Sea Studies and chairman of the Huayang Centre for Maritime Cooperation and Ocean Governance. In this interview, the first in a series about the South China Sea dispute, he discusses ways Beijing can respond to rival claimants. This interview first appeared in SCMP Plus. For other interviews in the Open Questions ser...
Wu Shicun is the founding president of China’s National Institute for South China Sea Studies and chairman of the Huayang Centre for Maritime Cooperation and Ocean Governance. In this interview, the first in a series about the South China Sea dispute, he discusses ways Beijing can respond to rival claimants. This interview first appeared in SCMP Plus. For other interviews in the Open Questions series, click here. With Manila intensifying its “transparency” campaign, how does China view the...
Good afternoon from Los Angeles, where summer has officially arrived. Netflix will report financial results on Thursday, which should be interesting given all the hubbub over the last week. Matt Belloni and I broke down entertainment’s winners and losers of the year so far on The Town . And thanks to The Today Show for having me on to discuss AI and Hollywood. Five things you need to know Microsof...
Good afternoon from Los Angeles, where summer has officially arrived. Netflix will report financial results on Thursday, which should be interesting given all the hubbub over the last week. Matt Belloni and I broke down entertainment’s winners and losers of the year so far on The Town . And thanks to The Today Show for having me on to discuss AI and Hollywood. Five things you need to know Microsoft’s Xbox cut 3,200 jobs , or about 20% of its staff. The company spent almost $80 billion on deals to boost its Netflix-like subscription service. That strategy has been a failure . This FIFA World Cup is setting TV records . Two recent World Cup matches are the most-watched non-NFL US sporting events since the 1994 Winter Olympics . Meta unveiled a new AI image generator within Instagram. Hollywood talent giant CAA and labor unions criticized Meta because the model would let people use public photos on Instagram to create new AI images without the consent of the people in the photo. That’s a potential nightmare for celebrities. Meta later “paused” the feature. The TV rights for the next two FIFA World Cups are on the market . They could fetch as much as $2 billion per tournament — four times the fees for the current event. Parents’ attachment to screens and smartphones can have negative, long-lasting effects on their children. The Netflix engagement question Last week’s newsletter about Netflix’s second season audience drop off generated a tremendous amount of attention online, prompting other outlets to write about Netflix’s “second-season slump.” Social media was littered with people offering their explanation for why so many popular shows have shed viewers between seasons. Producers, rivals and even Netflix employees all had questions about not just the specific piece but the state of the TV industry in general. One reporter asked if this means that the TV model as we know it is broken because of shortened attention spans. Everything involving Netflix right now tends to...
Manuel Alba, a Director at Astera Labs, Inc. (NASDAQ:ALAB) , executed a sale of 8,491 shares of common stock on July 1, 2026, according to an SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average sale price ($458.38); post-transaction value based on July 1, 2026 market close ($430.86). Astera Labs is a semiconductor connectivity specialist founded in 2017 that has achieved sig...
Manuel Alba, a Director at Astera Labs, Inc. (NASDAQ:ALAB) , executed a sale of 8,491 shares of common stock on July 1, 2026, according to an SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average sale price ($458.38); post-transaction value based on July 1, 2026 market close ($430.86). Astera Labs is a semiconductor connectivity specialist founded in 2017 that has achieved significant scale with $1.0 billion in TTM revenue and a market capitalization of $69.7 billion. The company's Intelligent Connectivity Platform addresses critical infrastructure bottlenecks in cloud and AI deployments, positioning it at the intersection of two of the highest-growth technology markets. With a lean operational footprint of 440 employees and TTM net income of $267.6 million, Astera Labs demonstrates strong operational leverage and profitability in a capital-intensive industry. Continue reading
Harlan S. Robins, the chief scientific officer of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) , sold 386,240 shares of common stock at $22.01 per share on July 2, 2026, according to an SEC Form 4 filing . Adaptive Biotechnologies is a commercial-stage biotechnology company investing heavily in research and development, as evidenced by its TTM net loss of $49.7 million. The company's competi...
Harlan S. Robins, the chief scientific officer of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) , sold 386,240 shares of common stock at $22.01 per share on July 2, 2026, according to an SEC Form 4 filing . Adaptive Biotechnologies is a commercial-stage biotechnology company investing heavily in research and development, as evidenced by its TTM net loss of $49.7 million. The company's competitive advantage lies in its proprietary immunosequencing platform, which provides unparalleled insights into immune system composition and function, positioning it as a critical infrastructure provider for the emerging field of immune medicine and personalized therapeutics. Robins, the brother of CEO Chad Robins, let go of more than 386,000 shares under a plan he set in March, and while that's a solid chunk, he still holds more than a million shares worth around $21.6 million. Of course, a founding family's selling is worth tracking as a pattern, but a preset sale that leaves this much on the table reads more as diversification. Meanwhile, Adaptive’s business is finally turning the corner. Adaptive has pivoted hard toward its MRD diagnostics engine, where its clonoSEQ cancer test helpd drive first-quarter revenue up 35% to $70.9 million and volume up 41%. The net loss narrowed to $20 million, and management raised full-year MRD guidance to $260 million to $270 million. Management credited stronger-than-expected clinical volume for the bump. Ultimately, this seems like a real growth story with a widening path to profitability. Unless family selling really accelerates, it doesn’t seem like this type of transaction should warrant too much attention. Continue reading
Good morning . The status of the Strait of Hormuz is uncertain as strikes continue. The US is eyeing Australia’s pension system for inspiration. And Disney delivers another live-action dud. Listen to the day’s top stories . US forces struck Iran again, after Tehran launched retaliatory attacks on at least five Arab nations. The Strait of Hormuz is “open to all vessels,” the US declared, even thoug...
Good morning . The status of the Strait of Hormuz is uncertain as strikes continue. The US is eyeing Australia’s pension system for inspiration. And Disney delivers another live-action dud. Listen to the day’s top stories . US forces struck Iran again, after Tehran launched retaliatory attacks on at least five Arab nations. The Strait of Hormuz is “open to all vessels,” the US declared, even though the Islamic Republic insisted it was closed “until further notice.” Traffic in the key waterway was almost non-existent Sunday, with the security threat remaining “severe,” the multinational Joint Maritime Information Center said. Apple sued OpenAI for trade secret theft, accusing the artificial intelligence startup and its hardware chief of engaging in a coordinated campaign to steal information about upcoming products. Read how former Apple engineer Chang Liu’s “LOL” moment set the stage for the iPhone maker’s legal challenge. Taiwan Semiconductor Manufacturing Co. is slated to release monthly sales figures for June, after postponing its Friday report due to Typhoon Bavi . Funds are rotating beyond AI winners in emerging markets, where TSMC, Samsung Electronics and SK Hynix — worth a combined $4.4 trillion — are driving an outsized share of returns. Korea’s World-Beating Stocks Are Now Trading Cheaper Than Ever Read more In political news, Xi Jinping said China’s commitment to its friendship with North Korea, support for Kim Jong Un’s leadership and determination to safeguard the two countries’ common interests “will not change,” Xinhua News Agency reported. Beijing also renewed its rejection of the South China Sea arbitration ruling after a statement marking the 10th anniversary of the decision. Malaysia’s former ruling party Barisan Nasional swept Johor’s state elections , winning 48 of 56 seats. Prime Minister Anwar Ibrahim’s coalition shed seats amid waning ethnic Chinese support and faces another tough battle in Negeri Sembilan on Aug. 1. Deep Dive: Super Strategy ...
Jacek_Sopotnicki/iStock Editorial via Getty Images Paramount Global ( PSKY ) is considering whether to shift more of its operations and spending outside California if state regulators move to block its proposed $110 billion acquisition of Warner Bros. Discovery ( WBD ), Semafor reported Sunday, citing people familiar with internal discussions. Advisers and allies of Paramount CEO David Ellison hav...
Jacek_Sopotnicki/iStock Editorial via Getty Images Paramount Global ( PSKY ) is considering whether to shift more of its operations and spending outside California if state regulators move to block its proposed $110 billion acquisition of Warner Bros. Discovery ( WBD ), Semafor reported Sunday, citing people familiar with internal discussions. Advisers and allies of Paramount CEO David Ellison have urged the company to evaluate relocating its headquarters and redirecting portions of its planned $30 billion annual content spending if California Attorney General Rob Bonta files a lawsuit to stop the merger. No decision has been made, and the discussions may be partly aimed at increasing pressure on regulators. The regulatory review is a key risk for shareholders and bondholders because the merger is intended to create one of the world's largest media and entertainment companies. A prolonged legal battle could delay expected cost savings, strategic benefits and balance-sheet improvements, while also increasing uncertainty around future investment plans, employment and production spending. The outcome could influence valuations across the media sector as companies pursue scale to compete with streaming giants and technology platforms. Paramount ( PSKY ) has been lobbying California officials to support the transaction, offering commitments related to film production, theatrical releases and continued operation of major studio facilities in the state. The company has argued that the merger would help sustain jobs and investment at a time when film and television production has increasingly shifted to other states and countries. Paramount ( PSKY ) executives have grown frustrated by what they view as limited engagement from state officials. The company believes the combined business would generate significant economic activity in California through content production and employment. While Ellison is said to be reluctant to leave California, the company has options to expa...
Fidji Simo stepped down from her full-time role as OpenAI‘s president of applications on Thursday, transitioning to a part-time advisory position after her chronic illness recovery proved longer than she had anticipated. In her X post, Simo wrote that she...
Fidji Simo stepped down from her full-time role as OpenAI‘s president of applications on Thursday, transitioning to a part-time advisory position after her chronic illness recovery proved longer than she had anticipated. In her X post, Simo wrote that she...