Bloomberg

Phia, a shopping startup co-founded by Bill Gates’ daughter Phoebe and Sophia Kianni, is accused of using 'cookie stuffing' to claim commissions for sales it did not generate, according to a Bloomberg investigation. The practice allegedly allowed the company to receive credit for purchases it did not earn.

The DOJ will drop charges against a man accused of involvement in the BitClub crypto Ponzi scheme. A former contestant on 'The Apprentice' is among those urging the DOJ to dismiss the case.

BMW's car sales have declined following a 30% drop in China. The article references a BMW AG dealership in Shanghai.

Volkswagen AG plans to reduce its model lineup by up to 50%. The article includes a video and is attributed to photographer Patrick T. Fallon of Bloomberg.

Etisalat is set to sell its stake in Vodafone in a $6 billion deal. The transaction was highlighted at an event featuring an Etisalat booth, as noted by Bloomberg photographer Angel Garcia.

Strategists have differing opinions on the long-term trend of the yen following a speech by Satsuki Katayama. The article also notes Satsuki Katayama as the photographer and Aaron Schwartz/Bloomberg as the source.

Iran has dispatched five supertankers and one Suezmax vessel carrying 11 million barrels of crude oil amid escalating US-Iran tensions, with four vessels positioned in the Gulf of Oman and another transiting the Strait of Hormuz. The move follows US military strikes targeting civilian infrastructure in Iran, which killed 14 people and injured 78, according to the Iranian health ministry.

China is considering restricting foreign access to its top AI models, mirroring US efforts to limit access to frontier AI technologies. This could impact US businesses reliant on Chinese AI and challenge Beijing’s claims about its open-source models aiding lower-income countries. Mark Zuckerberg has pledged aggressive pricing for Meta’s premium AI to counter this narrative.

Forged Energy Solutions plans to redevelop offshore infrastructure to support Louisiana's digital economy, including data centers. U.S. mortgage rates rose to 6.49% for 30-year fixed loans, increasing borrowing costs. Meta released Muse Spark 1.1, an AI model for developers targeting coding and complex tasks.

Iran dispatched 11 million barrels of crude oil via five supertankers and one Suezmax vessel amid escalating US-Iran tensions. US military strikes targeting Iranian civilian infrastructure, including railway bridges, caused 14 deaths and 78 injuries, risking a blockade of Iranian ports and disrupting maritime traffic through the Strait of Hormuz. Oil prices rose nearly nine percent to $79 a barrel as a result.

Iran dispatched 11 million barrels of oil via five supertankers and one Suezmax vessel amid escalating US-Iran tensions, as US military strikes targeting civilian infrastructure and threats of a Strait of Hormuz blockade disrupted exports. The Trump administration revoked a waiver lifting oil sanctions, prompting Iran to warn of a 'crushing response' to further US intervention.

Oil prices fluctuated as traders evaluated Middle Eastern crude supply risks following two days of US military strikes against Iran. Vessel-tracking data indicated reduced transits through the Strait of Hormuz.

China's tech stack is outperforming its broader economy, as discussed by Bloomberg analysts Anna Edwards, Guy Johnson, and Paul Dobson on 'Bloomberg: The Opening Trade.'

SK Hynix, a South Korean memory chipmaker, has emerged as a top name in the stock market's hottest sector, driven by its role in the AI boom. The company is preparing for a US listing after overcoming past challenges.

Zhipu experienced a significant stock price surge following a $4 billion share sale. The event was reported by The China Show.

Copper prices increased as risk assets remained unaffected by additional US military actions against Iran. The article notes copper's rise despite ongoing tensions.

The US military conducted strikes on Iran for the second consecutive day, escalating violence that risks straining an already fragile ceasefire.

New Zealand's manufacturing sector has reached a 5-year high, with Anna Breman emphasizing the recovery.

Doncasters Group, a manufacturer of products for aerospace engines and industrial gas turbines, saw its shares rise 33% in its US debut after raising $1.06 billion through an upsized initial public offering and private placements. The IPO took place on the New York Stock Exchange.

Delta Air Lines is introducing a lower-cost business-class fare with fewer perks, the Federal Reserve's June meeting minutes revealed divided views on interest rates, and many employers are delaying expanded coverage for GLP-1 obesity drugs due to rising healthcare costs.

Money transfers between Saudi Arabia and the UAE are being delayed or canceled, forcing businesses to route payments through third countries and individuals to carry cash. Strained relations stem from differing approaches to wars in Sudan and Yemen, relations with Israel, oil markets (UAE left OPEC in May), and competition for the region's primary business hub.

Zhipu, an AI firm, plans to sell $4 billion in shares following a 1,500% rally in its stock. The company's AI service, Z.ai, is available on smartphones.

High temperatures in the US are causing power demand to exceed forecasts, affecting areas from Chicago to New York City and New Orleans, leading to increased health risks. Nearly half the country is experiencing hot and humid conditions through the week.

Nvidia has become the world’s most valuable company and is currently cheaper than Hershey. Jensen Huang confirmed that three major memory chipmakers are certified to supply high-bandwidth products for Nvidia’s AI accelerators.

China is permitting significant exports of diesel and gasoline this month. The article references fuel storage tanks containing Jet A-1 aviation fuel.

Bonds show vulnerability to an Iran setback, as analysts Anna Edwards, Guy Johnson, and Paul Dobson discuss key themes on Bloomberg's 'The Opening Trade.'

Victor Rodríguez, Pemex CEO, was detained according to a report by El Universal. The article references a photograph by Alejandro Cegarra/Bloomberg.

Foreign investors are returning to India and China as both countries regain favor with global fund managers. India's easing energy prices and supportive monetary policies are attracting investors, while China's resilience during the Iran war and AI frenzy has created a niche as a volatility buffer. Concerns remain about China's slowing economy and India's weak monsoon.

Momenta, backed by General Motors, is set to debut in Hong Kong following a $752 million IPO. The event will take place at the Exchange Square Complex in Hong Kong.

The AI boom is driving demand for warehouse space as tech companies like Meta and Google lease facilities for data center operations, particularly in northern Virginia. Data center-related warehouse leasing in the mid-Atlantic region is projected to grow from 2.8 million square feet in 2024 to 14 million by 2030, boosting rents but facing challenges like power constraints and regulatory hurdles.

A former Tether investment chief is seeking to sell part of his stake in the stablecoin company, according to a Bloomberg report. The article does not specify the individual's name or the size of the stake being sold.

Iran struck two tankers in the Strait of Hormuz, testing a ceasefire that has reduced oil prices. Gulf countries, including Saudi Arabia, have increased oil shipments, but experts doubt the strait's oil flow will fully recover. China's demand and green energy transition are critical factors affecting future crude prices.

NATO is struggling to keep up with the evolving global arms race, as its technology and doctrine are deemed outdated. Analysts highlight the rise of drone-centered warfare, long-range missiles, and AI-guided systems, with countries spending $2 trillion on advanced military technologies including anti-satellite weapons.

Shares of SpaceX climbed on their first day of trading after a $75 billion IPO, making it one of the most valuable public companies. The IPO was listed at the Nasdaq MarketSite in New York.

Richard Heathcote, Tether’s CIO, is seeking buyers for part of his 1.26% stake in the firm, as reported by Bloomberg.

Foreign investors are purchasing Chile’s local-currency government debt at a record pace, with the Chilean 10-year government bond yielding 5.6% in June 2026, down from a year earlier. The Kast era began as Finance Minister Jorge Quiroz addressed economic developments.

The People's Bank of China (PBOC) has introduced new measures to strengthen Hong Kong's role as a yuan hub. The Exchange Square Complex in Hong Kong is highlighted in the article.

Saudi Arabia reduced its main crude oil price for Asian customers amid resumption of Hormuz flows and OPEC+'s output increase, but Asian buyers still find Saudi supplies pricier than regional alternatives. Analysts suggest the cut reflects Hormuz's normalization rather than a price war, with one consultant downplaying glut fears and predicting full supply recovery by 2027.

A former Tether CIO is reported to seek the sale of their stake in the stablecoin issuer. Tether has stated it has no plans to go public, contrasting with other crypto companies considering or postponing IPOs.

Hamilton Lane raised $3.8 billion for a fund targeting mid-market private equity investments. The firm's co-investment strategy focuses on smaller and mid-sized companies that typically avoid public offerings, which the firm's Co-CEO Erik Hirsch highlights as a source of significant private market returns.