Ukraine President Zelenskyy fired General Oleksandr Syrskyi as commander-in-chief and appointed Mykhailo Drapatyi as the new army chief following days of protests demanding his removal.
The U.S. and Iran have been striking each other for more than a week after a ceasefire deal collapsed over control of the Strait of Hormuz, with Pakistan asked to mediate again.
Defense Secretary Pete Hegseth testified the ongoing war with Iran has cost $37.5 billion so far.
World
President Volodymyr Zelenskyy fired Gen. Oleksandr Syrskyi as commander-in-chief of Ukraine's armed forces following days of protests demanding his removal.
The U.S. and Iran have resumed striking each other for more than a week, ever since the collapse of a ceasefire deal over control of the Strait of Hormuz.
Iran-backed Houthis say they will blockade a waterway on the Red Sea.
Business
AMD announced a blockbuster deal to sell Anthropic tens of billions in AI servers with a potential investment up to five billion dollars, marking the largest direct challenge to Nvidia's AI chip dominance.
Airbus shares rose as much as seven percent after announcing a five billion euro three-year share buyback and raising full-year 2029 adjusted EBIT guidance to between twelve and thirteen billion euros.
Amazon shares fell one percent after the company cut jobs in its artificial intelligence group, confirming additional layoffs beyond the sixteen thousand corporate workers announced in January.
Technology
The United States and China are preparing formal talks on artificial intelligence in September focused on military uses of AI, cyberattacks, and access to advanced models.
A Chinese optical transceiver manufacturer plans an IPO that would rank among Asia's largest technology listings, with quarterly revenue up 192% year-over-year.
Samsung is relocating its U.S. headquarters to Texas as companies redirect capital toward AI chips, data centers, and infrastructure while reducing spending in slower-growing businesses.
Science
Scientists revived vancomycin, a powerful antibiotic that some bacteria had learned to resist, by pairing it with a small molecule called pghi-4.
Researchers are applying evolutionary theory to cancer by changing treatments before tumors develop resistance, with mathematical models suggesting rapid switches between therapies could improve cure rates.
A protein called SORLA may act as a defense against toxic tau tangles involved in Alzheimer's disease, with mice having extra SORLA showing less tau accumulation and brain atrophy.
Economy
June inflation fell sharply with CPI dropping 0.4% month-over-month and rising 3.5% annually as gasoline and energy costs declined.
Federal Reserve Chair Kevin Warsh delivered his first semi-annual testimony before Congress this week, likely discussing the sticky inflation and labor market conditions policymakers are monitoring.
The Federal Open Market Committee meets July 28-29 and is expected to leave rates unchanged while preserving the option to tighten further if inflation proves persistent.
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