News
Strong winds pushed the eastern Washington fires through dry grass, timber and residential areas north of Spokane. The Old Trails Fire crossed the Spokane River and entered northwest neighborhoods only hours after it began. Flames damaged homes, businesses, vehicles, power equipment and other property across several communities. Infrared surveys identified possible damage to hundreds of additional buildings, though assessment teams had not confirmed those losses.
President Donald Trump said the United States would cancel a planned attack on Iran if negotiators reached a rapid agreement. He said the proposed deal must reopen the Strait of Hormuz and address Iran’s nuclear activities. Trump also said Israel supported efforts to complete the arrangement. His announcement halted preparations for another round of U.S. strikes. Officials had not released a signed agreement or detailed terms by Monday morning.
Business
Headline inflation across OECD economies eased to 4.2% in June 2026 from 4.6% in May, ending three straight monthly increases. The measure tracks annual changes in consumer prices across the group’s member countries. Inflation declined in 20 economies, increased in six and remained stable or broadly stable in 12. Nine OECD countries recorded inflation at or below 2%, including three where the rate stood below 1%.
Brent settled 5.3% lower at $79.36 a barrel, its first close below $80 since July 13. WTI settled 5.7% lower at $75.77. Both contracts reached their lowest closing levels in three weeks. The Tuesday losses extended Monday’s drop, when Brent fell 7% and WTI declined 5.1%.
Oil prices surged on July 29, pushing Brent crude above $90 a barrel as renewed Middle East fighting and tighter U.S. inventories lifted global benchmarks. Brent futures settled at $90.74, up $6.65, or 7.9%. West Texas Intermediate gained $5.20, or 6.6%, to $84.46. Both contracts posted their strongest daily advances in several weeks. The contracts had already gained more than 20% during July as regional supply disruptions affected energy markets.
UK solar capacity reached 22.8 gigawatts at the end of June 2026, with 2.076 million installations nationwide. Developers added 27,391 systems during June, contributing 132 megawatts. The capacity total covers rooftop arrays, commercial systems, and large solar farms, setting a baseline before new plug-in solar rules take effect.
Automotive
The decision brings total planned job eliminations across the company to approximately 9,000 positions, representing roughly 21 percent of its 42,066 workforce. Company leadership confirmed that Porsche to cut 5,000 more jobs under restructuring plan negotiations following months of talks between management and labor councils. The initiative aims to bolster operational efficiency as the vehicle producer confronts declining market share in Asia, elevated global tariffs, and sluggish demand for electric vehicles.
Technology
The valuation shift reflects broader recalibrations across international financial markets as institutional managers re-evaluate capital commitments tied to artificial intelligence infrastructure. While competing hyperscale computing enterprises including Alphabet and Tesla accelerated capital investments toward data centers, robotics, and autonomous transport networks, Apple maintained disciplined expenditure controls over consecutive fiscal quarters. Market participants increasingly view Apple’s disciplined spending approach as a operational buffer, allowing the firm to expand its proprietary Apple Intelligence software ecosystem without incurring high infrastructure depreciation costs.
SHANGHAI, CHINA / RankWire.AI / – United Nations Secretary-General António Guterres called for wider global participation…
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SEOUL, SOUTH KOREA / RankWire.AI / – Samsung Electronics plans to start operations at its first…