Morning Edition · Wednesday, July 22, 2026
Macro
Yen Falls Past 163 Per Dollar to Its Weakest Since 1986 as Chip Rally Lifts Risk Assets
The gap between a cautious Bank of Japan and a firm Federal Reserve is pulling capital out of the yen even as optimism about semiconductors drives a second day of gains across equities and crypto.
Macro
Trump Sets Generic-Drug Tariffs Rising to 100 Percent in 2028 and 200 Percent a Year Later
A two-year exemption starting in August precedes steep tariffs designed to move production into the United States, with India, which supplies roughly half of American generics, the most exposed.
Geopolitics
US Strikes Iran for an 11th Night as Pentagon Puts the War's Cost at $37.5 Billion
Trump renewed his threat to strike the fortified nuclear site known as Pickaxe Mountain as Defense Secretary Pete Hegseth defended the spending before senators.
Crypto
Bitcoin Holds Near $66,300 as AI-Driven Risk Appetite Steadies Crypto
The largest cryptocurrency recovered from around $64,000 earlier in the week as a rise in semiconductor stocks and abundant global liquidity supported risk assets.
Markets
Foreign Carmakers Lose More Ground in China as EV Powerhouses Erode the Luxury Segment
Mercedes-Benz and Land Rover saw sales fall further last month as wealthy Chinese buyers shift away from expensive petrol vehicles toward domestic electric brands.
Geopolitics
US Plans Civilian Nuclear Pact With Saudi Arabia That Omits Enrichment Safeguards
The proposed agreement would leave out the terms that block uranium enrichment and grant intrusive United Nations inspections, drawing concern from arms-control advocates in Congress.
Tech
Samsung in Talks to Back France's Mistral as AI Funding Race Widens Beyond US Labs
The South Korean group could invest as much as €1 billion in a round valuing Mistral near €20 billion, while China's Moonshot AI accelerates its own fundraising ahead of a Hong Kong listing.
Geopolitics
Indonesia Restarts North Natuna Gas Project That Beijing Had Opposed
A long-stalled field in the South China Sea has resumed activity under a new operator, testing China's claims in waters it says overlap its own.
Geopolitics
Russia's Lavrov Meets Indian and Pakistani Counterparts at ASEAN Forum in Manila
A round of high-level diplomacy alongside the regional forum underscores Moscow's push to deepen ties across Asia despite Western sanctions.
Markets
Bandhan Bank Shares Fall 10 Percent as Cut to Profitability Guidance Overshadows Profit Jump
The Indian lender's lowered return outlook drove a downgrade even as first-quarter net profit rose 35 percent, while Bajaj Auto gained on strong results.
Macro
US Holds About $13 Billion of Venezuela's Oil Money With No Clear Account of Where It Goes
Washington has given diverging explanations of the fate of funds from the earthquake-hit country's oil sales, raising questions about how sanctioned revenue is controlled.
World
More Than 140 Dead or Missing After Migrant Boat Stranded Off Mauritania
A vessel carrying migrants and refugees toward Europe ran out of fuel, with 38 people rescued in what the United Nations (UN) called a series of tragic maritime incidents.