Morning Briefing — July 13, 2026
Morning Briefing — July 13, 2026
World News
US and Iran exchange fresh strikes as Strait of Hormuz status disputed — U.S. forces conducted new strikes against Iran on Sunday in retaliation for an Iranian attack on a Cyprus-flagged container ship in the Strait of Hormuz, according to the Pentagon. Iran declared the waterway closed 'until further notice,' a claim denied by U.S. Central Command, which said its forces launched additional attacks to ensure freedom of navigation. CBS News
Ukraine's PM Svyrydenko steps down as Zelenskyy overhauls government — Ukrainian Prime Minister Yulia Svyrydenko resigned Sunday after less than a year in office as President Zelenskyy announced a broad government reshuffle described as a shift in political strategy. She is likely to be replaced by either Naftogaz CEO Sergii Koretskyi or former PM Denys Shmyhal, with winter energy resilience cited as a key driver. Japan Times / Bloomberg
Former Emir of Qatar Sheikh Hamad bin Khalifa Al Thani dies at 74 — Qatar's 'Father Emir' Sheikh Hamad bin Khalifa Al Thani, who ruled from 1995 to 2013, has died aged 74, the country's Amiri Diwan announced. He was widely regarded as the architect of the energy-rich Gulf state's global ambitions during his 18-year reign. Al Jazeera
Two dead, several injured in shooting at Toronto's Salsa on St. Clair festival — Two men were killed and multiple others injured on Saturday night when gunfire was exchanged between two individuals at the annual Salsa on St. Clair festival, which drew an estimated 13,000 attendees. Toronto police recovered two firearms and are working three crime scenes; the festival's final day was cancelled. CBC News
Sam Neill, 'Jurassic Park' actor, dies at 78 in Sydney — New Zealand actor Sam Neill, best known as Dr. Alan Grant in the Jurassic Park franchise and for his role in 'The Piano,' died Monday in Sydney at age 78. His family described his death as sudden and unexpected, noting he remained cancer free after successful treatment for blood cancer. CNN
Europe's 2026 heatwave death toll surpasses 10,000 as third wave hits UK — As of July 9, more than 10,440 excess deaths have been attributed to Europe's 2026 heatwave crisis, with Germany hardest hit at roughly 5,120 deaths, followed by France (2,025) and Belgium (1,747). A third heatwave hit the UK starting July 4, with heat-health alerts extended through July 12 and record numbers of days above 34°C. Wikipedia / Informed Clearly
Bangkok pub fire kills at least 27 — An intense fire that swept through a pub in Bangkok early Monday killed at least 27 people and injured nearly 20 others, according to Thai officials. The cause of the blaze is under investigation. UPI
Business
Oil jumps toward $79 as Iran-US strikes rattle Strait of Hormuz — Brent crude climbed toward $79 a barrel after gaining 5.4% last week as the US and Iran traded fresh strikes and offered contradictory statements about whether the Strait of Hormuz remains open. WTI traded near $74 as traders weighed the risk of prolonged disruption to Gulf shipping. Bloomberg
UK bonds lead European selloff as inflation fears return — UK gilts led a broader European bond selloff on Monday as renewed Middle East tensions and rising oil prices rekindled inflation worries. FTSE 100 traders are watching Hormuz developments, oil, and sterling as key drivers of the day's session. Bloomberg
SK Hynix slumps in Seoul after strong Nasdaq debut — SK Hynix shares fell more than 10% in Seoul on Monday, dragging the Kospi down nearly 9%, as investors booked profits following the memory chipmaker's 13% Nasdaq debut on Friday. The volatility reflects uncertainty about how the US-listed shares should be valued relative to the Korean stock as AI-linked semiconductor demand is reassessed. CNBC
Nippon Paint bids €7.5bn for Akzo Nobel decorative paints unit — Akzo Nobel shares rose 3.3% in early Monday trade after Nippon Paints offered to buy its Dutch-listed decorative paints business for €7.5 billion. The bid comes ahead of Nippon's second-quarter earnings on August 7. CNBC
Bank of Canada expected to hold rate at 2.25% on July 15 — Most analysts expect the Bank of Canada to hold its overnight rate at 2.25% at its July 15 announcement — the sixth consecutive hold since October 2025 — as it balances weak growth against inflation running at 3.2%. The decision comes amid ongoing US-Iran conflict, CUSMA tariff uncertainty, and elevated oil prices. Daily Hive
Goldman backs drone startup Helsing at $18 billion valuation — Goldman Sachs is backing European defence-tech startup Helsing in a funding round that values the drone maker at $18 billion, according to Bloomberg. The deal underscores continued investor appetite for defence AI amid ongoing conflicts in Ukraine and the Gulf. Bloomberg
Stellantis shipments climb 10% on North American growth — Stellantis reported a 10% increase in global vehicle shipments driven by stronger performance in North America, according to Bloomberg. The rebound offers a bright spot for the automaker amid broader industry pressure from tariffs and supply-chain disruptions. Bloomberg
Technology
DeepSeek develops its own inference chip to cut Nvidia dependence — Chinese AI startup DeepSeek is developing a custom inference chip designed for running trained AI models rather than training new ones, according to Reuters. The move signals a strategic shift toward custom AI infrastructure and reflects China's broader push to build a self-reliant AI stack amid US chip export restrictions. Reuters / Tech Startups
Amazon plans $25bn bond sale to fund AI infrastructure buildout — Amazon is reportedly seeking to raise at least $25 billion via a US dollar bond sale to finance its expanding AI infrastructure investments, according to Reuters. The financing comes as AWS faces heavy enterprise demand for AI compute and hyperscalers race to secure data-center capacity, chips and power. Reuters / Tech Startups
Google launches Applied AI Lab for African researchers in Accra — Google has launched the Google Africa Applied AI Lab, an Accra-based initiative giving African researchers and entrepreneurs early access to its AI technologies and direct guidance from Google engineers. The program aims to accelerate the development of AI tools tailored to African challenges. Medium / David Akpovi
EU begins mandatory driver-distraction detection in all new cars — Since July 7, all newly registered cars in the European Union must include a driver-distraction detection system that analyses gaze and head movements to detect inattention without recording footage. The rule marks a milestone in embedding AI into road-safety regulation across the bloc. Medium / David Akpovi
Anthropic in talks with Samsung on custom 2nm AI accelerator — Anthropic has begun preliminary discussions with Samsung Electronics to manufacture a custom AI accelerator, potentially using Samsung's 2nm process and advanced packaging, according to The Information. The effort is part of a broader trend of frontier AI labs pursuing vertical integration to reduce dependence on Nvidia. The Information / Tech Startups
Global semiconductor sales hit record $120.6bn in May, up 104% YoY — Global semiconductor sales reached a record $120.6 billion in May 2026, up 9.2% sequentially and 104.1% year-over-year — the 15th straight month of growth. The surge is being driven by AI infrastructure buildouts by hyperscalers, AI fabs and sovereign AI initiatives. Zacks / Yahoo Finance
Google loses final €4.1bn EU antitrust appeal over Android — Europe's top court upheld a €4.1 billion antitrust fine against Google, ruling that the company used Android's market power to entrench its Search and Chrome businesses on mobile devices. The decision closes years of litigation and reinforces EU willingness to police platform dominance. Semafor / Tech Startups
Renewable Energy
TCL Zhonghuan buys rival as China moves to reshape solar sector — Chinese solar giant TCL Zhonghuan is acquiring a domestic rival as Beijing pushes to consolidate an oversupplied solar manufacturing industry. The deal is part of a broader Chinese government effort to rationalize capacity and restore profitability across the world's dominant solar supply chain. Bloomberg
Renewables supplied record 58% of Germany's electricity in H1 2026 — Renewable energy provided a record 58% of Germany's electricity consumption in the first half of 2026, putting the country on track towards its 2030 clean-energy goals, according to a new report. The milestone underscores how wind and solar continue to displace fossil generation across Europe's largest economy. Carbon Pulse
Carbon Brief DeBriefed: COP31 president interview and EU electrification leak — Carbon Brief's weekly DeBriefed newsletter this week covers the deadly European heatwave, a leaked EU electrification target, and an interview with COP31 president Murat Kurum on the '35 by 35' target for electricity to supply 35% of final energy by 2035. Kurum argues the Gulf war has made electrification and renewables a top global security priority. Carbon Brief
IRENA: renewables avoided $480bn in fossil-fuel costs during 2025 boom — IRENA reports that the global renewable-energy boom avoided roughly $480 billion in fossil-fuel costs in 2025, positioning renewables not just as the cheapest new power source but as a 'geopolitical shock absorber' for energy security. The report reinforces the economic case for accelerated deployment amid Middle East volatility. Clean Energy Wire
Brussels taps ETS cash for €2.5bn clean energy push in poorer EU states — The European Commission is directing €2.5 billion from Emissions Trading System revenues to support clean energy investment in lower-income EU member states. The funding aims to help poorer regions accelerate their energy transitions and reduce reliance on volatile fossil imports. Carbon Pulse
UK allocates $47m for peatland restoration in England — The UK government has allocated $47 million to support peatland recovery in England as part of a broader effort to restore 280,000 hectares of degraded peat by 2050. Restored peatlands are a key nature-based tool for carbon sequestration and flood mitigation. Carbon Pulse
Quebec targets 77% renewables in energy mix by 2050 — Quebec has published a new long-term energy strategy aiming to increase the share of renewables in its energy mix to nearly 77% by 2050, up from around 48% today. The plan leverages the province's existing hydro base to electrify transport, buildings and heavy industry. Carbon Pulse
Solar to become world's largest power source by 2032, BNEF says — Solar is the fastest-growing power source worldwide, accounting for 75% of new demand growth last year, and BloombergNEF expects it to produce more electricity than any other source by 2032. However, a supply glut and trade barriers have caused global panel production to fall for the first time in two decades. Bloomberg
Soil Science
FAO Food Price Index edges down in June amid mixed commodity trends — The FAO Food Price Index averaged 130.3 points in June 2026, down 0.3% from May but still 2.2% above a year earlier, as declines in cereals, sugar and dairy outweighed rises in vegetable oils and meat. Wheat fell 4.4% on favourable Black Sea harvest prospects, while meat reached a fresh record on higher poultry quotations. FAO
UK Centre for Dynamic Soils launched as farmer-led research initiative — The UK's Centre for Dynamic Soils has launched as an independent, farmer-led initiative to transform how soil science is conducted and applied across the food and farming sectors. It aims to bridge cutting-edge soil research with on-farm practice and accelerate the shift to nature-positive agriculture. Agroforestry Partners
Barclays survey finds 80% of UK farmers adopting regenerative practices — New Barclays research reports that 80% of surveyed UK farmers have already adopted or plan to adopt regenerative farming practices such as reduced tillage, cover cropping and diversified rotations. The findings suggest regenerative agriculture is entering the British mainstream, driven by environmental awareness and economic incentives. Agroforestry Partners
USDA rule opens carbon-intensity market for regenerative biofuel feedstocks — The USDA has finalized its Production of Regenerative Agricultural Biofuel Feedstocks rule, giving growers a standardized method to quantify the environmental benefits of conservation practices. A companion Feedstock Carbon Intensity Calculator allows farmers to monetize soil-carbon benefits in low-carbon fuel markets. Agroforestry Partners
Ohio no-till events focus on soil health and cutting input costs — Farm Progress reports that Ohio's no-till and soil-health field events this month are focused on cutting input costs while building soil biology, as growers hunt for margin relief amid weak commodity prices. Sessions cover cover-crop termination, reduced tillage and nutrient efficiency strategies. Farm Progress
US farmers hit by hail losses, sulfur and nitrogen deficiencies mid-season — Agronomist Ken Ferrie says an unusual combination of severe hail, 88 mph winds and excessive rainfall has devastated corn acres across parts of the Midwest, while saturated fields are causing widespread sulfur and nitrogen deficiencies. Delayed herbicide applications and rising weed pressure now threaten remaining yield potential. AgWeb
Trump suspends phosphate fertilizer duties to shore up US farm supply — President Trump has signed a proclamation temporarily suspending countervailing duties on certain phosphate fertilizer imports from Morocco to ensure adequate supply for American farmers. USDA estimates the move could reduce fertilizer prices by about 22%, saving US farmers an estimated $1.82 billion annually across 97 million planted acres. USDA / Pro Farmer
Nature Conservancy launches Expanding Agroforestry Project for US farms — The Nature Conservancy has launched the Expanding Agroforestry Project to help US farmers integrate trees into their operations, diversify revenue and improve soil health. The initiative aims to scale agroforestry systems that combine crops, livestock and trees to build long-term farm resilience. Agroforestry Partners