Friday, August 7, 2026

World

US, Iran Near Deal to Reopen Strait of Hormuz

Trump says the Iran war cannot "go much longer" as the US, Iran, and Oman close in on a temporary agreement to reopen the Strait of Hormuz. Iran's parliamentary speaker Mohammad Ghalibaf has dismissed the diplomacy as a performance, while Trump insists a deal is imminent. The Strait carries roughly 20% of the world's oil supply, making its closure one of the most consequential economic pressure points on the planet.

MarketStrait of Hormuz traffic returns to normal by August 31?14%

Tech

New Mexico Orders Meta to Pay $567M Over Child Harms

A New Mexico judge has ordered Meta to pay $567 million for the mental health damage its platforms inflicted on children — the largest child safety ruling ever levelled against a social media company. The bulk of the money, $420 million, is earmarked for youth treatment services over the next five years. It is the second phase of a landmark trial; Meta already lost the first round in March.

Politics

Trump Signs New Executive Orders Targeting Birthright Citizenship

Trump signed two executive orders Thursday seeking to restrict birthright citizenship and ban "birth tourism," his second attempt after the Supreme Court struck down his first effort just over a month ago. The new orders take a narrower approach, expanding the definition of people whose US-born children are ineligible for citizenship. Whether they survive fresh legal challenges remains the immediate question.

Economy

US Secretly Sold Euros to Prop Up Yen, Blindsiding ECB

The US Treasury conducted a historic currency intervention — selling euros to support the yen — without notifying the European Central Bank beforehand. ECB President Christine Lagarde only learned of the move after the fact, in a call with Treasury Secretary Scott Bessent. The episode signals Washington is willing to act unilaterally in currency markets in ways that rattle its closest allies.

Tech

Google Shifts AI Power Back to Brin as Hassabis Steps Aside

Google co-founder Sergey Brin is reclaiming direct control over the company's AI strategy as DeepMind CEO Demis Hassabis steps back from a leadership role. The restructuring reflects a broader push at Google to move faster from scientific research to shipping AI products, with DeepMind's academic culture increasingly subordinated to commercial urgency. Hassabis, who won the Nobel Prize in Chemistry in 2024 for AlphaFold, remains at the company.