Morning Edition · Sunday, July 12, 2026
Markets
Iran Says It Struck 85 U.S. Military Sites in Bahrain and Kuwait in Direct Attack on American Forces
Iran's Revolutionary Guard claimed missile and drone strikes on U.S. bases, including the Fifth Fleet's headquarters in Bahrain, as it declared the Strait of Hormuz closed. Brent crude held near $76 a barrel, up about 5 percent on the week, with a fuller market reaction expected when trading opens Monday.
Markets
Gold Slips Toward $4,100 Even as the Gulf War Reignites
The energy-driven inflation scare has revived bets on Federal Reserve rate increases and firmed the dollar, weakening the metal's usual safe-haven demand.
Macro
China Forces Its Ratings Firms to Strip Inflated Triple-A Grades From Bonds
Regulators have triggered 28 downgrades this year, already more than triple last year's total, with property developers and local-government financing vehicles the main targets.
Geopolitics
Iran Tells Washington the Era of One-Sided Agreements Is Over
Tehran's lead negotiator warned the United States to honor its commitments or "pay the price," as Iran leaned on non-Western support to blunt pressure at the United Nations.
Geopolitics
Russia Says It Downed 349 Ukrainian Drones Overnight as Strikes Reach Deep Inside Its Territory
Regional officials reported one person killed and three wounded in Samara, with drones intercepted over Moscow, Tula and Kaluga.
Geopolitics
Fourteen Governments Mark a Decade Since the South China Sea Ruling China Still Rejects
Japan and its partners called the 2016 Hague award "final, legally binding and definitive," while Beijing again dismissed it as a political exercise.
Macro
The European Union Searches for Ways Around Its Own Budget Trap
Side agreements and special-purpose funds could let Brussels finance defense and shared debt without reopening its most contentious negotiations.
Tech
Brussels Prepares Fines for Big Technology Firms Over Consumer Protection Failures
The European Union's justice commissioner said the bloc will use enforcement to strengthen safeguards on social media platforms.
Geopolitics
Taiwan's Volunteer Force Grows by 5,000, but the Military's Problem Is Keeping Them
Lawmakers and analysts attribute the increase mainly to pay raises rather than to a shift in willingness to serve.
World
Typhoon Bavi Forces 2.4 Million From Their Homes in Eastern China
The second major storm to strike the country in a week grounded more than 2,800 flights and halted rail service.
World
India's Push to Blend More Ethanol Into Petrol Shifts Costs Onto Drivers
The move to a 20 percent ethanol blend reduces oil imports but is reigniting debate over mileage and engine wear.
Tech
A Warning on Quantum Computing Stocks: The Working Machine Is Still Years Away
An error-tolerant quantum computer remains distant even as investor enthusiasm lifts the sector's valuations.