Thursday, July 16, 2026

World

US strikes Iran for fourth consecutive day

US forces have hit Iran for four straight days, targeting the southern port city of Bushehr — home to Iran's only civilian nuclear plant — and firing missiles into an oil tanker attempting to breach the Strait of Hormuz blockade. Iran has declared any peace deal void, calling this an 'existential war,' while air raid sirens sounded in Bahrain and Kuwait. Trump's former defense secretary Mark Esper has warned publicly that bombing alone will not change Tehran's behavior.

MarketWill the US officially declare war on Iran by December 31, 2026?5%

Politics

Global opinion flips: China now viewed more favorably than US

A new Pew Research Center survey finds more people hold favorable views of China than the US in 25 of the countries polled — a remarkable reversal of a trend that held for years. The shift is driven significantly by friction between the Trump administration and traditional US allies, handing Beijing a soft-power windfall without Beijing having to do much at all. Xi Jinping also outpolls Trump on favorability in the same survey.

Politics

New York Times fights DOJ subpoenas over Air Force One reporting

The Justice Department subpoenaed NYT journalists who reported on security vulnerabilities in Qatar's gift of a new Air Force One to the US government, and the paper has now filed a motion to quash those subpoenas. The move sets up a major press-freedom showdown over whether the government can compel reporters to burn their sources. The reporters' original stories raised alarms about the plane's suitability for presidential use.

Climate

Canadian wildfires blanket US Northeast in orange smoke

Roughly 838 active wildfires across Canada — about 100 out of control in Ontario alone — have sent smoke streaming over 1,000 miles south, turning skies orange over Toronto and much of the US Northeast. Scientists studying last month's deadly West Africa floods separately confirmed that climate breakdown made those rains significantly more intense, displacing thousands who would otherwise have been safe. Both events underscore how climate-driven disasters are compressing from rare to routine.

MarketStrait of Hormuz traffic returns to normal by December 31?58%

Economy

South Korea raises interest rates for first time in three years

The Bank of Korea has hiked rates for the first time since 2023, a move that immediately sent South Korean stocks sliding. Governor Shin Hyun-song's debut policy decision targets a weakening won and the country's heavy exposure to energy import costs — a vulnerability sharpened by ongoing Middle East tensions. The rate rise signals that Asian central banks are now prioritizing currency defense over growth support.