Daily Strategic Briefing

Trump threatens to back primary challenger to Sen. Tillis

Summary: The president escalated his confrontation with the North Carolina Republican after Tillis opposed his signature legislative package over Medicaid concerns., Description: President Donald Trump threatened Saturday night to support primary challengers against Sen. Thom Tillis after the North Carolina Republican voted against advancing the president's signature legislative package, escalating a confrontation that could reshape the 2026 Senate race in a key battleground state. Trump's threat came as Senate Republicans struggled to secure enough votes for the...

Canada orders Chinese surveillance giant Hikvision to cease operations

Summary: The government cited national security concerns following an intelligence review, while also banning departments from purchasing the company's products., Description: The Canadian government ordered Chinese surveillance camera manufacturer Hikvision to cease all operations in the country Friday, marking one of Ottawa's most forceful moves against a Chinese technology company over national security concerns. Industry Minister Melanie Joly announced the decision following a multi-step security review, saying the government determined that "Hikvision Canada...

HPE, Juniper settle with DOJ to clear $14B merger

Summary: Settlement requires HPE to divest wireless business and share Juniper's AI technology with competitors to address antitrust concerns., Description: Hewlett Packard Enterprise and Juniper Networks reached a settlement with the U.S. Department of Justice today that clears the path for HPE's $14 billion acquisition of the networking equipment maker, resolving a months-long antitrust battle that threatened to derail one of the tech industry's largest deals. The agreement, filed in federal court in California and subject to judicial approval,...

Senate Republicans push for weekend vote on sprawling domestic policy bill

Summary: Republicans released a 940-page bill extending Trump tax cuts and eliminating taxes on tips while facing opposition from their own members., Description: Senate Republicans released their 940-page revised domestic policy bill late Friday night and convened Saturday seeking votes to pass the sprawling legislation, which includes extensions to Trump's 2017 tax cuts, elimination of taxes on tips, $350 billion for national security initiatives, and significant changes to energy policy, all while racing to meet their self-imposed July 4 deadline.

Thousands in Budapest defy ban to march in Pride Parade

Summary: Mayor declares event a municipal celebration to bypass government prohibition, drawing support from over 70 EU lawmakers., Description: Tens of thousands of LGBTQ+ rights supporters are gathering in Budapest to defy a government ban on the annual Pride march, as Prime Minister Viktor Orbán's administration faces international criticism for legislation that prohibits such events under the guise of "child protection," with participants risking fines of up to €500 and organizers facing potential imprisonment of up to one year.

Musk renews criticism of Trump’s 'Big Beautiful Bill' ahead of key vote

Summary: The Tesla CEO called the 940-page legislation "utter madness" that would destroy jobs and harm America's strategic interests., Description: Elon Musk has intensified his criticism of President Donald Trump's "Big Beautiful Bill," calling the Senate version a measure that "will destroy millions of jobs in America and cause immense strategic harm to our country," as Republicans scramble to secure enough votes for the sprawling 940-page legislation that would extend Trump's 2017 tax cuts while implementing significant spending...

Trade war threatens America's 250th birthday fireworks

Summary: China produces 99% of US consumer fireworks, and tariff uncertainty has disrupted production ahead of the 2026 semiquincentennial celebration., Description: As Americans prepare for Independence Day celebrations this Saturday, the fireworks industry remains caught in the crossfire of the ongoing US-China trade war, with current tariffs of 35% threatening to dim future July 4th displays and potentially derail next year's historic 250th anniversary celebration. Despite a trade agreement reached between the US and China on June 11 that stabilized...

Thai PM faces massive protests after leaked Cambodia call

Summary: Thousands demanded Paetongtarn Shinawatra's resignation in Bangkok after a phone conversation with Cambodia's ex-leader sparked coalition crisis., Description: Thousands of protesters packed Bangkok's Victory Monument on Saturday, demanding Prime Minister Paetongtarn Shinawatra's resignation in the largest anti-government demonstration since her Pheu Thai Party took power in 2023. Police estimated the crowd at 6,000 by mid-afternoon, with expectations it would exceed 10,000 by evening. The rally represents a culmination of political turmoil sparked by...

G7 agrees to exempt US companies from global minimum tax

Summary: The deal shields American firms from the 15% rate while other countries remain bound by the international framework., Description: The Group of Seven nations have agreed to exempt US multinational corporations from a global minimum tax, effectively carving out American companies from an international framework designed to prevent corporate tax avoidance, according to an announcement Thursday by US Treasury Secretary Scott Bessent. The agreement shields US firms from the 15% global minimum corporate tax established under...

Newsom signs $321B budget scaling back immigrant healthcare

Summary: The California governor's budget scales back Medi-Cal for undocumented immigrants, freezing enrollment and adding premiums to save $5 billion., Description: California Governor Gavin Newsom has signed a $321 billion state budget that scales back healthcare coverage for undocumented immigrants, including an enrollment freeze beginning in 2026, $30 monthly premiums for adults starting in 2027, and elimination of full dental coverage, marking a significant retreat from his previous progressive healthcare policies.

Authors call on publishers to limit their use of AI

Summary:

An open letter from authors including Lauren Groff, Lev Grossman, R.F. Kuang, Dennis Lehane, and Geoffrey Maguire calls on book publishers to pledge to limit their use of AI tools, for example by committing to only hire human audiobook narrators.

Meta reportedly hires four more researchers from OpenAI

Summary:

Looks like Meta isn’t done poaching talent from OpenAI.

Anthropic’s Claude AI became a terrible business owner in experiment that got ‘weird’

Summary:

Researchers at Anthropic and AI safety company Andon Labs gave an instance of Claude Sonnet 3.7 an office vending machine to run. And hilarity ensued.

Congress might block state AI laws for a decade. Here’s what it means.

Summary:

A federal proposal that would ban states and local governments from regulating AI for 10 years could soon be signed into law, as Sen. Ted Cruz (R-TX) and other lawmakers work to secure its inclusion into a GOP megabill ahead of a key July 4 deadline. Here’s what’s at stake.

As job losses loom, Anthropic launches program to track AI’s economic fallout

Summary:

As warnings mount about AI’s potential to displace millions of jobs, Anthropic on Friday launched a its Economic Futures Program, new initiative to support research and policy development that addresses AI’s economic impacts.

Agricultural Commodities Updates: Oat Surges by 5.75%

Country: Commodity, Description: Top commodity gainers are Oat (5.75%), Cocoa (3.28%) and Rubber (2.13%). Biggest losers are Orange Juice (-4.85%), Cotton (-2.86%) and Canola (-1.94%).

Metals Commodities Updates: Platinum Falls by 4.68%

Country: Commodity, Description: Top commodity losers are Platinum (-4.68%), Silver (-1.88%) and Gold (-1.65%). Gains are led by Iron Ore CNY (2.36%) and Lithium Carbonate (0.91%).

Energy Commodities Updates: Natural gas Soars by 6.24%

Country: Commodity, Description: Top commodity gainers are Natural gas (6.24%) and Uranium (0.70%). Biggest losers are Heating Oil (-3.51%), Gasoline (-1.15%), Methanol (-0.94%), Brent Crude Oil (-0.50%) and Crude Oil WTI (-0.26%).

FX Updates: South Korean Won Depreciates by 0.47%

Country: Currency, Description: Top currency losers are South Korean Won (-0.47%), Turkish Lira (-0.37%), Australian Dollar (-0.30%) and British Pound (-0.10%). Gains are led by Swiss Franc (0.35%), Mexican Peso (0.34%), Swedish Krona (0.30%), Euro (0.20%), Dollar Index (0.13%) and Japanese Yen (0.04%).

Ibovespa Posts Marginal Weekly Losses

Country: Brazil, Description: The Ibovespa edged down 0.2% to close at 136,866 on Friday to close the week 0.2% lower as a resurgence of fiscal uncertainty, elevated domestic discount rates and firmer US yields combined to dampen appetite for Brazilian equities. The abrupt congressional repeal of the IOF surcharge, originally designed to bolster revenue, has reignited discussions over necessary primary-spending cuts and undermined confidence in near-term fiscal consolidation. Meanwhile, while Brazil’s labor market remains resilient with unemployment at 6.2% in the three months through May (better than the 6.4% consensus), sectoral performance was mixed: Petrobras underperformed, slipping about 1% on concerns over higher funding costs and regulatory headwinds, while heavyweight names such as Ambev, WEG and Rede D’Or each fell between 1% and 1.5%, reflecting broad-based caution across consumer staples, industrials and healthcare.

TSX Pressured by Renewed Tariff Threats

Country: Canada, Description: The S&P/TSX Composite Index fell 0.2% to below the 26,692 on Friday, trimming some of the weekly gains to 0.7% amid fresh tariff threats, commodity headwinds and domestic stagnation. President Trump’s decision to terminate all trade negotiations with Canada over its digital services tax—and his threat of looming retaliatory tariffs—has rattled exporters and injected fresh uncertainty into Canada’s trade-dependent sectors. At the same time, Statistics Canada’s data reveal back-to-back 0.1% GDP contractions in April and a likely repeat in May, underscoring how US levies and tariff uncertainty are weighing on manufacturing and wholesale trade. Major mining equities led the decline with Agnico Eagle, Wheaton Precious, and Barrick Gold tumbling between 2.8% and 5.3% amid a sharp decline in gold—now at a four-week low, as safe-haven demand wanes amid easing geopolitical tensions and clarity on the US–China trade accord.

S&P 500, Nasdaq Close at Record Highs on Trade Hopes

Country: United States, Description: US stocks closed at record highs on Friday driven by optimism over pending trade agreements and rising expectations for interest rate cuts, as investors looked past President Donald Trump’s comments about halting trade talks with Canada. The S&P 500 gained 0.5%, closing above its February peak, while the Nasdaq 100 also advanced 0.5% to a new high. The Dow Jones rose by 432 points. Earlier in the day, markets surged on encouraging news of trade progress with key partners, including a framework agreement with China. Although Trump’s unexpected remarks on Canada briefly dented sentiment, they failed to derail the broader rally. The market’s strong rebound from April lows has been driven by easing inflation pressures and resilient corporate earnings. Supporting the positive tone, data showed an uptick in consumer sentiment and only a slight rise in core PCE inflation. Shares of Nike jumped 13% after an upbeat earnings report, while Amazon climbed 0.5% following an analyst upgrade.

WTI Crude Posts Steep Weekly Drop Despite Friday Rebound

Country: Commodity, Description: WTI crude oil futures rose by 0.4% to settle at $65.5 per barrel on Friday, but posted their sharpest weekly declines in years as geopolitical risk premiums faded. The market had surged above USD 80 during the Iran-Israel conflict then easing after President Trump announced a ceasefire, soothing fears of supply disruptions from the region. Since then, Trump has sent mixed signals about his pressure campaign on Iran’s oil revenues, admitting US sanctions have done little to stop China’s purchases. Still, WTI crude fell 11% on the week, the steepest drop since March 2023. Market is refocusing on fundamentals, including upcoming OPEC+ decisions and signs of strengthening summer demand. Inventory data showing strong draws in distillates and signs of rising refinery activity also supported prices. Meanwhile, China’s Iranian crude imports hit a record high in June, further influencing global supply dynamics.

Paraguay GDP Growth Accelerates in Q1

Country: Paraguay, Description: Paraguay's GDP expanded 5.9% year-over-year in Q1 2025, up from 3.6% in the previous quarter. Growth was driven by strong performance in services (6% vs 4.8% in Q4), a rebound in utilities (8.3% vs -7.9%), continued expansion in construction (12.9% vs 13.6%), and manufacturing (6.6% vs 3.1%). Output in livestock, forestry, fishing, and mining surged 10.8% (vs 2.7%). Agriculture remained a drag, though its contraction eased (-3.4% vs -4.3%). From the expenditure side, domestic demand rose 9.3%, slightly below the 10.5% growth in Q4 2024.

Wall Street Pulls Back After Trump’s Trade Shift

Country: United States, Description: US stocks erased earlier gains on Friday after briefly hitting new record highs, as investor sentiment cooled following unexpected comments from President Donald Trump about terminating trade talks with Canada. The S&P 500 slipped 0.1% after touching a fresh peak, the Nasdaq lost 0.3% after also reaching a record, while the Dow Jones rose 252 points. Markets rallied earlier in the day on optimism over new trade agreements with several key partners, including a framework deal with China. However, Trump’s abrupt announcement regarding Canada unsettled investors, cutting into the session’s gains. Still, the broader market has made a strong recovery from April lows, driven by easing inflation concerns, solid corporate earnings. Economic data also supported the rebound, with consumer sentiment improving and core PCE inflation rising only slightly .Nike surged 13% following strong earnings, and Amazon rose 0.5% after receiving an upgrade.

[Weekly funding roundup June 21-27] A sharp rise in VC inflow

The last week of June witnessed almost a six-fold jump in venture capital money into Indian startups.

NRI-focused fintech Aspora closes $53M round to broaden reach

The fresh capital will support Aspora’s push into new markets, including the United States, Canada, Australia, and Singapore.

Techfino raises Rs 65 Cr from Stellaris Venture Partners and Saison Capital

Techfino, a Bengaluru-based non-banking financial company (NBFC), has secured Rs 65 crore in funding from Stellaris Venture Partners and Saison Capital to ramp up its secured lending operations for underserved micro, small and medium enterprises (MSMEs) in India. The fresh capital will be used to

B2B maintenance services startup CLR Facility Services bags $15M from BII to expand workforce

With this capital infusion, CLR plans to more than double its workforce to 50,000 employees over the next five to seven years.

PharmEasy founders launch home improvement venture All Home, raise seed round at $120M valuation

PharmEasy founders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia have launched a one-stop shop for home improvement needs.

GoKwik secures $13 M in round led by RTP Global

Ecommerce enablement platform GoKwik has raised $13 million in a growth round to support its international expansion and AI-offerings.

Coralogix raises $115M in Series E funding at $1B valuation

Coralogix will allocate a substantial share of the capital to its operations in India, one of its three largest markets worldwide. The investment will be used to expand its presence, with a focus on BFSI, IT and telecom, logistics, and edtech sectors.

Oben Electric closes Rs 100 Cr Series A round with fresh capital infusion

The company said the funding will be used for Oben’s next growth phase—expanding to 150+ showrooms across 50+ cities by FY26 and ramping up production at its Bengaluru facility.

EV startup Okinawa receives a shot in the arm, raises Rs 60 Cr

The fundraise comes as the company looks to navigate funding troubles, thinning market share, and plunging revenues after being sent notices by the government for misusing subsidies given to EV-makers.

Mahaveer Finance bags Rs 200 Cr from Elevation Capital, BanyanTree, First Bridge

The company will use the funding to deepen its presence across South India, expand its technology infrastructure, and improve access to formal credit for small entrepreneurs currently reliant on informal moneylenders.

ICRA Cuts PV Growth Outlook to 1-4% for FY26; SUVs Lead Demand

ICRA trims PV growth outlook for FY26 to 1-4% amid EV supply concerns and geopolitical tensions. SUVs drive PV demand, while two-wheelers show stability with 6-9% FY26 growth aided by rural strength. Source: Hindustan Times

M&M Sets Record Dates for Bonus, Dividend & Split; Paras Defence, CONCOR Follow

M&M announces record dates for bonus, dividend, and stock split this week. Paras Defence and CONCOR record dates are also scheduled this week. Source: ScoutQuest

K.P.R. Mill Rises on High Volumes, Breaks Resistance

K.P.R. Mill Limited sees uptrend with rising volumes, crossing resistance levels. Source: ScoutQuest

NTPC Green Energy Launches 120 MW Solar Unit in Shajapur

NTPC Green Energy starts 120 MW solar operation, part of 220 MW Shajapur project. The project, commissioned on June 29, 2025, boosts NTPC's renewable portfolio. Source: ScoutQuest

Alembic Pharma Gets USFDA Nod for Cancer Drug in $29M Market

Alembic Pharma secures USFDA approval for Doxorubicin Hydrochloride Liposome Injection. The drug targets ovarian cancer, Kaposi's sarcoma, multiple myeloma; market size $29M. Source: ScoutQuest

Nuvoco Buys Vadraj Cement Assets for ₹952 Cr in NCLT-Approved Deal

Nuvoco acquires Vadraj Cement's Rs 952cr assets via NCLT-approved resolution plan. ED issued NOC, enabling restitution of Vadraj Cement ABG Cement's attached properties. Source: The Times of India

NHPC, IOCL Partner for Renewable Projects

NHPC and IOCL signed an MoU to jointly develop pumped storage and renewable projects. The collaboration aims to expand both companies' renewable energy portfolios in India and abroad. Source: The Economic Times

RailTel Hosts Shareholder Call, Key Updates Awaited

RailTel Corp of India Ltd held a shareholder/analyst call. Source: MarketScreener

DAM Capital Declares ₹1 Final Dividend for FY25

DAM Capital approves final dividend of INR 1/share for FY 2024-25. The dividend is on equity shares with a face value of INR 2 each. Source: MarketScreener India

76% of B30 MF Assets in Equity Funds: ICRA Analytics

Icra Analytics reports 76% of B30 mutual fund assets in equity funds. Hybrid schemes account for 9% of B30 mutual fund investments. Source: Business Standard