Saturday, August 15, 2026

World

Trump threatens to claim Strait of Hormuz as US territory

Trump declared he will "pretty soon" designate the Strait of Hormuz — through which roughly a fifth of the world's seaborne oil passes — as US territory, as ceasefire negotiations with Iran stall. The remark, made at a Long Island police academy on Friday, raises the stakes on a waterway that has sat at the centre of the US-Iran conflict. The White House has not clarified whether the threat represents actual policy.

MarketWill the U.S. invade Iran before 2027?17%

Economy

Jane Street suffers $15bn loss in July market chaos

Quantitative trading giant Jane Street recorded a $15 billion loss in July after a market meltdown tied to Situational Awareness — one of the largest single-month hits ever absorbed by a Wall Street firm. The firm has still posted substantial trading revenues overall in 2026, cushioning the blow. The loss underscores how concentrated and fragile large quant positions can become when volatility spikes.

Tech

Nvidia discloses $21bn stake in SpaceX

Nvidia has revealed a $21 billion equity stake in SpaceX, following Elon Musk's announcement of an exclusive arrangement to outfit SpaceX data centres with Nvidia hardware. The filing cements a deepening alliance between two of the most valuable private and public tech entities on the planet. It also raises fresh questions about the concentration of AI infrastructure power between Musk and Nvidia CEO Jensen Huang.

World

7.7 magnitude earthquake strikes off Indonesia's Flores coast

A powerful 7.7-magnitude earthquake hit Indonesia's Flores region early Saturday, triggering a tsunami warning that sent coastal residents fleeing. The quake struck at a depth of just 10 kilometres — shallow enough to amplify shaking — with its epicentre 68 kilometres north-northwest of the city of Ende. No immediate casualties were reported, but authorities were assessing damage across East Nusa Tenggara province.

Climate

UK PM announces £65m for farmers as wildfires rage

Prime Minister Andy Burnham unveiled £65 million in emergency funding to help drought-stricken British farmers after facing a backlash from Labour MPs for his slow response to an escalating climate crisis. The package covers water access improvements and funding for farm reservoirs, as 37 simultaneous wildfires burned across England and Wales, destroying at least 19 homes. Burnham framed the announcement as the start of a broader climate adaptation push.