Morning Briefing — July 11, 2026
Morning Briefing — July 11, 2026
World News
US demands Iran publicly declare Strait of Hormuz open to all shipping — The Trump administration says nuclear talks with Iran can only be restarted if Tehran publicly guarantees that the Strait of Hormuz will remain open and that Iranian forces will not fire on commercial ships transiting the chokepoint. The demand follows two days of renewed US-Iran strikes that shook a fragile ceasefire. Al Jazeera
One of Spain's deadliest wildfires kills at least 12 in Almeria — A wildfire tore through an expat community near Los Gallardos in Almeria province overnight, killing at least 12 people, injuring eight and leaving 23 missing, according to Andalusian authorities. Roughly 150 firefighters and 220 military emergency personnel are battling the blaze, which has consumed more than 3,200 hectares amid a heatwave gripping much of Europe. NPR
Congo Ebola outbreak still spreading largely undetected, WHO warns — Four out of every five new Ebola cases in parts of the Democratic Republic of Congo have no known link to existing patients, a senior WHO official said, warning the true scale of the outbreak may be two to four times larger than official data suggest. Government figures put the current toll at 1,792 confirmed cases and 625 deaths. Reuters
Trump grants Ukraine license to produce Patriot air defense systems — At the close of a NATO summit in Turkey, President Trump met Ukrainian President Volodymyr Zelenskyy and announced that Washington would grant Kyiv a license to manufacture Patriot air-defense systems. The move signals a shift toward providing Ukraine deeper industrial capacity as the war with Russia grinds on. NPR
Largest US housing affordability bill in decades becomes law without Trump's signature — The biggest housing affordability package in a generation has taken effect without a presidential signature after Trump refused to sign unless Congress first passed his sweeping voter ID bill. The legislation nonetheless became law under automatic enactment provisions. NPR
Ukraine drone campaign hits Russian oil tankers and refineries at 'industrial scale' — Ukraine launched drone attacks on 21 vessels and multiple Russian refineries over three days, intensifying long-range strikes on energy infrastructure. The offensive has caused fuel shortages inside Russia and prompted Moscow to ban diesel exports. Fox News
Ex-Typhoon Bavi disrupts flights as it barrels toward China's coast — Flights have been cancelled and coastal preparations stepped up as the weakened but still dangerous ex-super typhoon Bavi approaches China. Experts warn that the storm's energy has spread from its core to a broader cloud structure, potentially making it more destructive over a wider area. South China Morning Post
Business
Stablecoin issuer Circle wins US national trust bank charter — Circle Internet Group has received final approval from the Office of the Comptroller of the Currency to establish Circle National Trust, a national digital-currency trust bank that will support USDC and provide institutional custody services under a single federal charter. Circle shares surged as much as 16%, their biggest jump in two months. Bloomberg
SK Hynix closes 13% higher in blockbuster $26.5bn Nasdaq debut — SK Hynix ended its first US trading day up roughly 13% after climbing from a $149 offer price to $168, following a $26.5 billion American depositary share sale that was the biggest-ever first-time listing by a foreign company in the US. Demand was reportedly seven times oversubscribed as investors piled into the AI memory supply chain. Yahoo Finance
Rogers cuts 230 jobs and closes six radio stations across Canada — Rogers Sports & Media is eliminating 230 positions and shutting down six radio stations in Vancouver, Calgary, Halifax and Kitchener, with the company citing declining audience numbers and shrinking advertising revenue. About 80 of the job losses come directly from the station closures, drawing sharp criticism given Rogers' $4.35 billion buyout of Maple Leaf Sports & Entertainment. CBC News
Air Canada names Anko Van der Werff as new president and CEO — Air Canada has appointed Anko Van der Werff, a veteran airline executive, as its new president and chief executive. The change comes as the carrier has also halted or delayed several US flight routes amid high fuel costs tied to the ongoing Iran conflict. CBC News
Canada's trade surplus hits four-year high on jump in US exports — Statistics Canada data show the country's merchandise trade surplus reached its highest level in four years in May, propelled by a sharp increase in exports to the United States. The figures come as trade negotiator Rick Hoekstra says there has been 'no significant progress' after 14 months of talks with Washington. CBC News
Swift launches blockchain payments consortium with 17 global banks — Global financial messaging network Swift has launched a blockchain consortium alongside 17 major banks including Citi and HSBC to build 24/7 payments infrastructure and better compete in the stablecoin race. The move landed on the same day Circle received its US trust bank charter. CNBC
FAO Food Price Index edges down in June as commodity trends diverge — The FAO Food Price Index averaged 130.3 points in June 2026, down 0.3% from May but still 2.2% higher than a year earlier, as lower cereal, sugar and dairy quotations outweighed rising vegetable oil and meat prices. Wheat prices fell 4.4% on strong harvest progress in the Black Sea region, while meat prices edged up to a fresh record high. FAO
Technology
Apple sues OpenAI alleging systematic trade secret theft — Apple has filed suit against OpenAI in a Northern California federal court, alleging that the AI lab and its hardware chief Tang Tan orchestrated a coordinated campaign to steal Apple trade secrets to build competing consumer hardware. The complaint accuses OpenAI of coaching departing Apple engineers, soliciting confidential components at job interviews and misusing proprietary metal-finishing techniques. CNBC
EU accuses Meta of breaching Digital Services Act with 'addictive' design — The European Commission has issued preliminary findings that Facebook and Instagram breach the Digital Services Act through features such as infinite scroll, autoplay, push notifications and highly personalized recommendations that keep users, especially minors, hooked. Meta must overhaul the features or face fines of up to 6% of its global annual revenue. TechCrunch
OpenAI executive Fidji Simo steps back due to chronic illness — OpenAI executive Fidji Simo is stepping down from her operational role due to a chronic illness and will transition to an advisory position. The change comes as OpenAI faces mounting legal pressure, including Apple's new trade-secrets lawsuit, ahead of a widely anticipated IPO. CNBC
Anthropic appoints former Fed Chair Ben Bernanke to independent trust — AI lab Anthropic has named former US Federal Reserve Chair Ben Bernanke to its independent trust, a governance body designed to oversee the company's mission and safety priorities. The appointment underscores efforts to bring seasoned public-policy figures into AI oversight. CNBC
SK Hynix Nasdaq listing spotlights AI memory shortages lasting to 2030 — SK Hynix's US debut highlights an ongoing HBM supply squeeze, with the company controlling more than half the global market for high-bandwidth memory used in Nvidia's H100, H200 and Blackwell GPUs. Analysts warn the memory shortage could persist into 2030 because new fabrication capacity takes years to build. Yahoo Finance
Apple complaint claims former engineer took laptop, downloaded confidential documents — The Apple lawsuit alleges that Chang Liu, a former senior systems electrical engineer who joined OpenAI in 2026, failed to return an Apple-issued laptop and used it to download confidential documents about unreleased products. Apple says he also shared confidential information with other Apple staff applying for OpenAI jobs. TechCrunch
Renewable Energy
COP31 president-designate Kurum unveils '35 by 35' electrification target — COP31 president-designate Murat Kurum told Carbon Brief that a new target for 35% of the world's final energy to come from electricity by 2035 is grounded in IEA and IRENA modelling of what is needed to keep the 1.5C Paris goal in reach. He argued that the latest Gulf war makes energy diversification and electrification a top global priority to shield consumers from volatile fossil fuel prices. Carbon Brief
Renewables cover record 58% of Germany's electricity in first half of 2026 — Preliminary figures from BDEW and ZSW show that wind, solar and biomass supplied 58% of Germany's electricity consumption from January to June 2026, up three percentage points on the year and a record for the first six months. Onshore wind generation rose 7% and offshore wind surged 28%, while solar PV climbed 4% and hydropower fell 8% on low rainfall. Clean Energy Wire
IRENA: renewables avoided $480bn in fossil-fuel costs in 2025 — IRENA says the ongoing renewables build-out avoided some USD 480 billion in fossil-fuel costs in 2025, arguing that clean power is now both the cheapest new source of electricity and a prime 'geopolitical shock absorber' for energy security. The findings come as European countries scramble to adapt after a record June heatwave. Clean Energy Wire
Deadly Europe heat drives thousands of excess deaths, wildfires spread — Western Europe recorded its hottest June ever at 3C above average, and analyses suggest the June heatwave killed more than 2,700 people in France and over 5,000 in Germany. Wildfires in southern France forced 10,000 people to evacuate while an ongoing US heatwave has killed at least 30 people. Carbon Brief
Quebec targets 77% renewables in energy mix by 2050 — Quebec has published a long-term energy strategy that aims to raise the share of renewables in its energy mix to nearly 77% by 2050, from around 48% today. The plan leans heavily on further electrification and expanded hydro, wind and solar capacity. Carbon Pulse
UK allocates $47 million to peatland restoration — The UK government has allocated $47 million to support peatland recovery in England as part of a broader effort to restore 280,000 hectares by 2050. Restored peatlands are seen as an important nature-based carbon store and buffer against climate-driven flooding. Carbon Pulse
Brussels taps EU ETS revenues for €2.5bn clean-energy push in poorer states — The European Commission is directing €2.5 billion of EU Emissions Trading System auction revenues into a clean-energy support package targeted at lower-income member states. The funds are aimed at accelerating renewable deployment and grid upgrades in the bloc's less-wealthy regions. Carbon Pulse
Soil Science
OECD-FAO Agricultural Outlook sees production up 13% by 2035, emissions rising slower — The new OECD-FAO Agricultural Outlook 2026-2035 projects global agricultural production expanding 13% over the next decade, driven mainly by productivity gains and intensification concentrated in Asia, sub-Saharan Africa and Latin America. Direct agricultural greenhouse gas emissions are expected to grow 6-6.5%, considerably slower than output, while the 2026 Middle East conflict is projected to constrain fertiliser use and cereal production in low-income countries. OECD
FAO launches digital tool combining soil, climate and landscape data for farmers — The FAO has released a new digital tool that fuses soil, climate and landscape data to help farmers improve yields, strengthen resilience and make smarter management decisions. The launch is part of the agency's broader push around 'smart farming' after its June global conference in Rome. FAO
UK Centre for Dynamic Soils launches to bridge research and on-farm practice — The UK's Centre for Dynamic Soils has been launched as an independent, farmer-led initiative to transform how soil science is conducted and applied across the food and farming sectors. Its goal is to bridge cutting-edge research with practical field use and accelerate the shift to nature-positive agriculture. Agroforestry Partners
Barclays survey: 80% of UK farmers adopt or plan to adopt regenerative practices — New Barclays research finds that 80% of surveyed UK farmers have adopted or plan to adopt regenerative farming practices such as cover cropping and reduced tillage. The results signal that regenerative agriculture is moving into the British mainstream, driven by both environmental concerns and economic incentives. Agroforestry Partners
Trump declares emergency to suspend duties on Moroccan phosphate fertilizer — President Trump has declared an emergency and suspended certain import duties on phosphate fertilizer from Morocco to help ensure adequate supply for US farmers. The move is aimed at protecting food production amid concerns over fertilizer availability tied to the ongoing Gulf conflict. Agroforestry Partners
USDA finalises regenerative biofuel feedstocks rule and carbon intensity calculator — The USDA has finalised its Production of Regenerative Agricultural Biofuel Feedstocks rule, giving producers a standardised method to quantify the environmental benefits of conservation practices. An accompanying Feedstock Carbon Intensity Calculator lets growers measure the carbon value of practices used to grow biofuel crops, potentially unlocking new renewable-fuel revenue streams. Agroforestry Partners
Groundswell showcases regenerative innovations for soil health and profit — The opening day of the UK's Groundswell festival highlighted regenerative innovations including RNAi biological pesticides, integrated pest management strategies and profitable pulse rotations aimed at improving resilience, soil health and farm profitability. The event underlined how regenerative approaches are increasingly framed around measurable business outcomes. Farmers Guardian
FAO confirms 615 modular grain storage units delivered to Ukrainian frontline farms — The FAO has completed the distribution of 615 modular storage units to small- and medium-scale farmers across seven frontline oblasts in Ukraine ahead of the 2026 season. Backed by Canada and Japan, the initiative expands access to safe grain storage and is part of a broader 2026-2028 Emergency and Early Recovery Response Plan. FAO