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U.S. to stand by Philippines over suspected laser attack

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The U.S. says it will stand by the Philippines after a suspected Chinese laser attack on one of the nation’s Coast Guard ships in the South China Sea

 
The U.S. warns it will defend the Philippines, labelling China’s conduct both “provocative and unsafe”.

During a briefing, State Department spokesperson Ned Price says lasers disrupted the Philippines’ “lawful operations” in the South China Sea.

Adding, Beijing’s “dangerous operational behaviour directly threatens regional peace and stability.”

The crew of the ship was allegedly temporarily blinded by the laser devices as the vessel sailed around a submerged reef in the South China Sea.

It’s a region the U.S. says China has “no lawful maritime claims” over.

Price was also asked about China’s global surveillance program and the support the U.S. will provide to allies around the world.

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Markets watch RBA, tax talks, and Nvidia surge

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Investors are eyeing a possible rate cut from the Reserve Bank of Australia as inflation cools. In the US, Trump’s sweeping tax bill is dividing Congress ahead of the 2026 race. Nvidia gears up to report earnings next week, with markets hopeful the AI boom continues. Meanwhile, Bitcoin has hit fresh record highs, driven by ETF momentum and global demand.

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Trump’s “big beautiful bill” takes centre stage

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Donald Trump is back in Washington, rallying Republicans around his sweeping new budget plan—nicknamed the “One Big Beautiful Bill.” It promises to tackle inflation, border security, and government waste, while proposing a bold new Department of Government Efficiency—possibly led by Elon Musk. With U.S. debt over $36 trillion, Trump’s push comes at a tense economic moment. Supporters say it’s about fiscal discipline; critics say it’s far-fetched. As 2026 looms, the question remains—can Trump deliver real reform, or is this more political theatre?

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Tech, trade & tariffs reshape global economic landscape

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The global economy is undergoing rapid change — with breakthroughs in technology, shifts in trade policy, and renewed inflationary pressures all colliding.

In the U.S., the autonomous vehicle sector is accelerating after Waymo received key regulatory approval to expand its driverless services. The move could give Alphabet a competitive edge over rivals like GM’s Cruise, with the prospect of robotaxis generating real revenue on the horizon.

At the same time, fresh tariff threats are sparking alarm in the retail sector. Walmart has warned that new duties could trigger double-digit price hikes, putting pressure on consumers and potentially reshaping spending patterns, especially in electronics and apparel.

Meanwhile, the UK and EU have struck new trade agreements aimed at reducing red tape around food and emissions. The deals mark a step toward improved cooperation and could provide a modest economic boost for exporters.

With uncertainty still hanging over global markets, investors are once again turning to precious metals. Gold and silver are gaining attention as safe havens, with silver’s industrial use giving it added appeal in an uncertain climate.

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