Cover Story
Issue 01CENTCOM said its July 13 mission targeted Iranian air defense, radar, missile, drone and small-boat assets across several coastal locations and issued notice that a naval blockade regime resumes July 14. Regional media citing the UAE Ministry of Defence said two tankers in Omani waters were hit by two Iranian cruise missiles, with one fatality and multiple injuries.
Spain’s Economy Ministry increased its 2026 growth forecast to 2.6% from 2.2% and said output should remain above 2% through 2029 in an updated macro framework required for the 2027 budget. June inflation was reported at 3.2%, with higher electricity and gas prices offset by lower motor fuel prices.
Bridgepoint said it will pay $759 million in cash and about 189 million new shares for the Florida-based business, with further payments tied to performance. The deal adds a real estate arm to Bridgepoint’s platform and would lift assets under management to about $117 billion, subject to approvals and fund consents.
The court is hearing Apple’s challenge to a 2025 ruling that set FRAND terms for an Optis portfolio of standard-essential 4G patents at $0.15 per device, producing a $502 million lump sum plus interest. The appeal also covers royalties on past sales and treatment of related foreign patent cases.
Virgin Media O2 said the consumer fixed market remained under competitive pressure in Q1 2026, with ARPU pressure and a £468.3 million adjusted free cash flow outflow. The planned £2 billion nexfibre acquisition of Substantial would add wholesale access commitments for Virgin Media O2 and remains subject to regulatory approvals.
Reuters reported on June 26 that Volkswagen is considering closing or winding down production at four German sites and raising planned job reductions to as many as 100,000, with the proposal due for discussion on July 9. Industry surveys show German suppliers are also cutting hiring and delaying investment amid weaker demand, tariffs and competition from Chinese automakers.
Reuters and industry groups said shipping through the Strait is unlikely to normalize immediately after any political reopening because mines still need to be located and cleared, routes and naval procedures coordinated, and insurers, charterers and shipowners satisfied on residual risk before regular oil transit resumes.
The companies said their international enterprise operations will be combined in a 50:50 venture expected to generate about $4 billion in annual revenue and serve more than 3,000 customers in over 180 countries. Closing is targeted for 2027 pending approvals, and BT will report its International division as a discontinued operation until completion.
Via Yuyuantantian, a CCTV-affiliated account, China said it could withstand a further worsening or even a freeze in EU trade ties if Brussels keeps tightening restrictions while treating talks as a formality. The signal came before a June 29 meeting as the EU pursues negotiations while preparing additional trade and supply-chain measures.
China’s commerce ministry said 20 Japanese entities were placed on an export control list, barring exports and third-country transfers of China-origin dual-use items, while another 20 were added to a watch list subject to stricter licensing and end-user checks. The measures took effect on June 29.
The program announced on June 29 includes two fabrication sites each for Samsung Electronics and SK Hynix in the southwest, plus 81 trillion won for a packaging cluster in Chungcheong. Company and government disclosures indicate site selection and infrastructure needs, including power, water and labor, are still being worked through.
A U.S. official said Washington and Tehran agreed to halt attacks and continue technical talks under a June 17 memorandum of understanding after several days of strikes following an incident in the Strait of Hormuz. Iran had not confirmed a final decision, and the report did not indicate Iranian official confirmation of the pause.
A U.S. official said Washington and Tehran agreed to stand down after recent exchanges, continue technical discussions under an interim memorandum, and aim for a June 30 meeting in Doha. The arrangement includes continued commercial transit through the Strait of Hormuz while negotiations proceed.
In its June 28 Annual Economic Report, the BIS said more frequent supply shocks could reaccelerate inflation, the AI capex surge could reverse, stretched valuations and fragile core bond-market liquidity leave markets exposed, and near-record public debt with greater non-bank intermediation could transmit sovereign stress faster and widen policy trade-offs.
The dispute followed a June 25 drone strike on the Singapore-flagged M/V Ever Lovely near Oman and subsequent U.S. strikes on Iranian missile, drone and coastal radar sites. Iran restated its role in managing Strait transit, while a U.S.-Gulf statement rejected tolls or control claims; oil prices fell as some Saudi loadings resumed.
Frankfurter Allgemeine Zeitung reported Porsche is considering shifting Cayenne manufacturing, including combustion, hybrid and electric versions, from Bratislava to Leipzig. Porsche said discussions with employee representatives are under way, and the works council confirmed talks remain open. Cayenne production moved fully to Bratislava in 2017.
Bloomberg reported QuidelOrtho was considering a sale of the business, with people familiar citing a valuation of about $1.5 billion to $2.0 billion. The process was described as preliminary, with no certainty of a transaction, and the asset could draw interest from both strategic acquirers and private equity buyers.
