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Trump criticises UK’s North Sea oil taxation as excessive. US President Donald Trump has criticised the UK for high taxes on North Sea oil, calling it a “TREASURE CHEST” for the country. He urged for incentives to attract drillers, highlighting potential financial gains and reduced energy costs.
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US M&A rebounded this week with bank tie-ups, rail megadeals, and a media merger finalised. Five standout transactions revealed strategic integration, regulatory shifts, and consolidation pressures.
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AI giants are beating estimates while airlines and food brands struggle. The second-quarter earnings season has revealed a sharp divergence, with firms like Alphabet and IBM reaping AI gains, while consumer-facing businesses report weakening demand and rising costs.
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EU and US near trade deal with 15% tariffs. The European Union and the United States are finalising a trade agreement imposing 15% tariffs on most EU exports. Exemptions for aircraft and medical devices are under consideration, but key industries remain affected.
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AstraZeneca plans a $50 billion US investment by 2030. The investment aims to boost AstraZeneca’s US manufacturing and research presence, helping achieve $80 billion in annual sales by 2030. This move aligns with US political pressure for domestic pharmaceutical production.
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Japan and the U.S. struck a surprise tariff accord today. The agreement trims incoming U.S. auto duties on Japanese vehicles to 15 %, down from a planned 25 % escalation, in exchange for a promised US $550 bn investment package aimed at bolstering U.S. supply chains.
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Chevron’s $55bn Hess close led this week’s US dealflow. A surge of high-value US transactions defined the week, from Chevron’s landmark offshore energy win to Walgreens’ historic exit from public markets and a string of debt-financed acquisitions spanning healthcare, energy, and real estate.
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The US Congress has passed its first federal crypto law. The Genius Act introduces national licensing and strict stablecoin rules. Bitcoin inflows have surged as the legislation triggers a rapid response from global regulators. Industry leaders call this a watershed moment for digital assets and the financial system.
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Trump Media has filed two AI-related trademarks for Truth Social. The move comes as major tech and media platforms accelerate AI branding amid rising regulatory scrutiny and litigation over digital innovation.
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Trump threatens tariffs on countries supporting BRICS policies. The warning was issued as BRICS leaders convened in Rio to discuss reforming global financial institutions and reducing reliance on the US dollar.