Daily Strategic Briefing

Intel swings the axe again as it looks to lose 5,000 staff

Our sources tell us mostly back office staff were let go, and that the mood in the office is very pessimistic Intel has filed documents that reveal plans to fire around 5,000 staff, mostly in California and Oregon.…

Trump tax law keeps Bill Gates' nuclear datacenter dreams alive

The Microsoft cofounder breathed that sigh of relief in a Cipher News interview - just before it folded Despite Trump's budget bill slashing many mature clean-energy tax credits, Bill Gates is less worried, since new nuclear incentives, including those his TerraPower venture will leverage, survived intact.…

Ukrainian hackers claim to have destroyed major Russian drone maker's entire network

'Deeply penetrated' Gaskar 'to the very tonsils of demilitarization' Ukrainian hackers claim to have taken out the IT infrastructure at Russia's Gaskar Integration plant, one of the largest suppliers of drones for its army, and also destroyed massive amounts of technical data related to drone production. …

Operation Eastwood shutters 100+ servers used to DDoS websites supporting Ukraine

Two Russian suspects in cuffs, seven warrants out International cops shut down more than 100 servers belonging to the pro-Russian NoName057(16) network this week as part of the Europol-led Operation Eastwood.…

Ex-OpenAI engineer pulls the curtain back on a chaotic hot mess

'Everything breaks when you scale that quickly' Thank heavens for former OpenAI engineers inspired to blog about their time at the famously secretive firm, for without them we would have no idea what a wild mess it is in there. …

India eyes global quantum computer push — and QpiAI is its chosen vehicle

Summary:

QpiAI, an Indian startup that integrates AI and quantum computing for enterprise use cases, has raised $32 million in a new funding round co-led by the Indian government.

Scale AI lays off 14% of staff, largely in data-labeling business

Summary:

Scale AI is cutting 14% of the company just weeks after Meta invested $14.3 billion in the startup and hired away its CEO.

OpenAI and Anthropic researchers decry ‘reckless’ safety culture at Elon Musk’s xAI

Summary:

The criticisms follow weeks of scandals at xAI that have overshadowed the company’s technological advances.

Nvidia’s resumption of H20 chip sales related to rare-earth element trade talks

Summary:

U.S. Commerce Secretary said Nvidia’s plans to start selling its H20 chips are tied to ongoing trade discussions with China regarding REEs.

xAI is hiring an engineer to make anime girls

Summary:

The company is hiring for the role of “Fullstack Engineer – Waifus,” or, creating AI-powered anime girls for people to fall in love with.

Lo! Foods nears Rs 100 Cr ARR, fuels next phase with $3.5M funding to drive Protein Chef

Lo! Foods will use funding to scale Protein Chef by expanding warehousing, strengthening backend tech, launching offline pilots, and building its brand.

Kettleborough VC launches Rs 80 Cr fund II

Kettleborough VC has already raised Rs 35 crore for Fund II and aims to invest in about 10 startups.

Former OpenAI CTO Mira Murati’s Thinking Machines Lab raises $2B at $12B valuation

The firm will roll out its first product, featuring a significant open-source component, which will be useful for researchers and startups in the coming months as they develop custom models and understand frontier AI systems.

AI analytics firm Fractal raises $172M ahead of IPO: Report

The transaction saw long‑time backer Apax Partners offload a 6% stake to a consortium of 22 institutional investors. Among the buyers were funds advised by Trust Investment Advisors, White Oak Capital Management, Gaja Capital and Neo Asset Management.

Arteria secures Rs 100 Cr in Series B from ICICI Venture to expand supply chain SaaS platform

Founded in 2010, Arteria offers digital solutions for managing upstream and downstream enterprise supply chains, with embedded financing options aimed at improving capital flow for suppliers and distributors.

Nila Spaces Rises 27% as FY25 Revenue Jumps 50%

Nila Spaces FY 2025 EPS rises to ₹0.37 from ₹0.34; revenue up 50% YoY to ₹1.36b. Profit margin declines to 11% (vs 15% FY 2024) due to higher expenses; shares up 27% weekly. Source: Simply Wall Street

NOCIL Cuts Dividend to ₹2; Yield at 1%

NOCIL's dividend cut to ₹2.0, yielding 1.0% of stock price, above industry average. EPS forecast to grow 107.6%; payout ratio may drop to 17%, but weak cash flows raise concerns. Source: Simply Wall Street

Bhagyanagar India's ROE Trails Industry at 6.8%; Debt Ratio Raises Concerns

Bhagyanagar India Ltd's ROE stands at 6.8%, below the industry average of 13%. High debt-to-equity ratio of 1.33 limits excitement despite ROE boost from leverage. Source: Simply Wall Street

Sportking India Gains 12%; Insiders Hold 28% Stake

Private firms hold 52% of Sportking India shares, gaining 12% last week; insiders hold 28% stake. Top 3 shareholders control 56%, influencing management; institutional investors show limited interest. Source: Simply Wall Street

Dixon Tech JV with Chinese Firms May Face Govt Scrutiny

Dixon Technologies forms JV with Chinese firms, raising scrutiny concerns. Speculations arise about potential government scrutiny over the partnership. Source: ScoutQuest

Canada Imposes Limits on Steel Imports, Exempting U.S. and Mexico

Country: Canada, Description: Canada unveiled new measures to support its steel industry amid 50% U.S. tariffs, including limits on foreign-made steel imports — excluding the U.S. and Mexico — before triggering steep duties. Prime Minister Mark Carney said the government will also review trade agreements and ongoing talks with the Trump administration. Additionally, Ottawa will impose a 25% tariff by the end of July on imports from non-U.S. countries containing steel melted and poured in China. “The trade actions of the United States are transforming global market dynamics and supply chains,” Carney said, warning Canada will be among the hardest hit. He noted the country has a "disproportionately open import market" and that foreign steel makes up about two-thirds of Canada’s consumption, which spans infrastructure, autos, shipbuilding, and manufacturing.

Singapore Stocks Hit New Peak

Country: Singapore, Description: Equities in Singapore rose 14 points, or 0.4%, to a fresh record high of 4,147 around noon on Thursday, extending gains for a ninth straight session. The Straits Times Index (STI) tracked an upbeat session on Wall Street overnight, after President Donald Trump denied plans to fire Fed Chair Jerome Powell. Strong export data also lifted sentiment, as Singapore’s non-oil domestic exports surged 13% year-on-year in June 2025, rebounding sharply from May and far exceeding expectations, marking the strongest growth in 11 months. Traders now await June inflation data due next week, after May inflation eased to its lowest level since February 2021, fueling hopes for a third round of monetary policy easing this year. Industrial services, communication, and non-energy minerals sectors were the main drivers of the index. Among the top performers were DFI Retail Group Holdings (4.3%), Singapore Telecommunications (2.5%), Setrium (1.4%), and Hongkong Land Holdings (1.0%).

Australia’s 10-Year Bond Yield Falls After Jobs Report

Country: Australia, Description: Australia’s 10-year government bond yield dropped to around 4.35% as fresh labor market data strengthened the case for a rate cut next month. Australia’s jobless rate rose to 4.3% in June, the highest since November 2021 and exceeding forecasts for an unchanged 4.1%. In addition, employment increased by 2,000, well below expectations of a 20,000 gain, following a revised 1,100 fall in the prior month. The data showed the first clear sign of weakness in what has been a notably resilient labor market, prompting traders to fully price in a rate cut in August. Markets are also anticipating another cut to follow, with better-than-even odds of a third. Today’s report is crucial for the Reserve Bank of Australia, as the strength of the labor market—and concerns it could reignite inflation—has been a key reason for its cautious approach to policy easing. The second-quarter CPI report, due at the end of July, is now seen as the next major indicator that could shape the RBA’s policy outlook.

China Stocks Mixed Amid Trade Developments

Country: China, Description: The Shanghai Composite inched down 0.1% to around 3,500 while the Shenzhen Component climbed 0.6% to 10,780 on Thursday, with mainland stocks showing mixed performance as investors continued to monitor ongoing global trade developments. In the latest update, President Trump announced plans to send a uniform tariff letter to over 150 smaller countries, setting a baseline rate for all, while major trading partners like the EU, Japan, and South Korea have already received individual tariff notices ahead of August 1. Meanwhile, Trump has softened his stance on China to secure a summit with Xi Jinping and a trade deal, shifting focus from tough rhetoric to quick purchase agreements amid ongoing trade concerns. Investors now await the People’s Bank of China’s latest loan prime rate decision later this week, with expectations for no change. Among notable movers, top gainers were BYD (1%), Zhongji (1.4%), and Beigene (3.2%), while financial stocks led losses.

Dollar Edges Higher

Country: United States, Description: The US dollar index edged up to 98.4 on Thursday, recovering slightly after a volatile previous session that ended lower amid renewed concerns over the Federal Reserve’s independence. Reports emerged overnight suggesting US President Donald Trump might fire Fed Chair Jerome Powell, though Trump later denied this, saying it was “highly unlikely.” On the data front, US producer prices were unexpectedly unchanged in June, supporting the case for Federal Reserve rate cuts later this year. Investors are now awaiting retail sales data, due later today, for further insight. In trade developments, Trump said on Wednesday that the US will probably stick to 25% tariff on imports from Japan and hinted at a potential new trade deal with India, following his announcement of an agreement with Indonesia on Tuesday.

Mexico City unveils plan to cap rent at inflation rates

Summary: Mayor Clara Brugada announced 14 measures to combat gentrification after violent protests against rising housing costs driven by foreign digital nomads., Description: Mexico City Mayor Clara Brugada on Wednesday unveiled a comprehensive plan to combat gentrification, announcing new regulations that will cap rent increases at inflation rates and establish a tenant rights ombudsman following violent protests earlier this month against rising housing costs. The initiative, dubbed "Bando 1, for a livable and affordable city with local identity and roots,"...

Trump pulls federal funds for California high-speed rail

Summary: Transportation Secretary cites project mismanagement and missed deadlines as costs balloon from $33 billion to over $100 billion., Description: The Trump administration has officially pulled approximately $4 billion in federal funding for California's high-speed rail project, with Transportation Secretary Sean Duffy citing project mismanagement and missed deadlines as justification for the decision, as reported by ABC News and the Los Angeles Times.

Australia's unemployment jumps to 4.3% in June

Summary: The jobless rate rose from 4.1% as full-time positions declined, increasing pressure on the central bank to cut interest rates., Description: Australia's unemployment rate jumped to 4.3 percent in June, the highest level since November 2021, as the labour market showed its first cracks after months of resilience amid economic headwinds. The Australian Bureau of Statistics reported the jobless rate rose from 4.1 percent in May, driven by a 34,000 increase in unemployed people. The deterioration adds pressure on the Reserve Bank of...

Couche-Tard abandons $47B bid for 7-Eleven owner

Summary: The Canadian convenience store operator accused Seven & i Holdings of refusing to engage in meaningful negotiations after nearly a year-long pursuit., Description: Canadian convenience store operator Alimentation Couche-Tard withdrew its $47 billion takeover bid for Japan's Seven & i Holdings on Wednesday, ending a nearly year-long pursuit to acquire the parent company of 7-Eleven after accusing the Japanese retailer of refusing to engage in meaningful negotiations. The Quebec-based company, which operates Circle K stores globally, cited "no sincere or...

Justice Department fires Maurene Comey, daughter of James Comey

Summary: Maurene Comey was terminated without explanation from the federal prosecutor's office where she handled high-profile cases including Sean "Diddy" Combs., Description: The Justice Department terminated Maurene Comey, a federal prosecutor in the Southern District of New York, on Wednesday, removing the daughter of former FBI director James Comey from her role handling high-profile cases including those involving Sean "Diddy" Combs and Jeffrey Epstein-related matters. No specific reason was provided for her dismissal from the U.S. attorney's office, according...