Flagship

Billionaires are backing Trump

US billionaires are coming out in support of Donald Trump’s presidential bid after his attempted assassination. In addition to Elon Musk’s $45 million monthly pledge, prominent venture capitalists Marc Andreessen and Ben Horowitz intend to donate to PACs supporting Trump, they said Tuesday. The Financial Times reported that the co-founder of Palantir as well as cryptocurrency tycoons Cameron and Tyler Winklevoss are making contributions, the latest sign of Silicon Valley’s rightward tilt in recent years. But Trump’s selection of JD Vance as his running mate threatens to alienate wealthy Wall Street donors, Semafor reported: The Ohio senator is a fan of steep tariffs and robust antitrust enforcement.

Trump VP pick is hawkish on China

JD Vance labeled China “the biggest threat” to the US soon after Donald Trump picked him to be his running mate. In an interview, Vance, who has been a vocal Ukraine aid skeptic, said Kyiv has “completely distracted” Washington from the threat of China. Vance supports Trump’s push for tougher tariffs on Chinese imports and opposes electric vehicles, introducing a bill to scrap federal tax credits for EVs that he claimed “offshore” American jobs to China. But such a move could allow China to widen its already-vast lead on EVs and renewables, Semafor’s Tim McDonnell wrote.

Chinese firms make Saudi solar push

Two Chinese solar panel firms plan to build $3 billion worth of new solar farms in Saudi Arabia, Bloomberg reported, highlighting Beijing’s dominance in the Middle East’s energy transition. The move also reflects China’s desire to avoid the West’s punitive trade barriers, instead looking to the Gulf as its main export hub for cheap green technology. The massive investment boosts Riyadh’s efforts to diversify its economy away from oil and become a clean power player. Chinese electric vehicle makers are also eyeing the Middle East, with luxury manufacturers expanding the fastest. Customers there favor high-end vehicles, a contrast from other markets, where Chinese firms are pushing ultra-cheap EV models.

Saudi gets major IMF growth cut

The global economy is on track for modest growth in the next two years, but momentum in the fight against inflation is slowing, the International Monetary Fund said Tuesday. In its updated economic forecast, the IMF left its 2024 growth prediction unchanged at 3.2% and slightly raised its 2025 outlook. Compared to its projections in April, the IMF significantly raised its growth estimates for China on the back of strong first-quarter exports and consumption, while slightly reducing the US’ amid signs of cooling. Saudi Arabia, meanwhile, saw the biggest downgrade in its growth projections among large economies: Riyadh’s GDP is now expected to rise just 1.7% this year, thanks to oil production cuts and the high costs of ambitious projects aimed at reinventing its non-oil economy.

Bangladesh student protests turn deadly

At least five people were killed and dozens injured during massive student protests in Bangladesh opposing quotas for government jobs. High youth unemployment has made the public sector more desirable, but more than half of those jobs are reserved for various groups, including 30% for family members of freedom fighters from the 1971 War of Independence. The weekslong protests — the biggest challenge to Prime Minister Sheikh Hasina’s government since she won a fourth term this year — intensified after she used the term “razakar” to label those opposing the quotas: The word refers to people who collaborated with the Pakistani army during the 1971 war. “This questionable dichotomy is what lit the fuse, leading to students exploding with renewed vigour,” a Bangladeshi journalist wrote.

Senator guilty in foreign agent case

Democratic lawmaker Bob Menendez became the first US senator to be convicted of acting as a foreign agent. He was found guilty of corruption Tuesday for a yearslong bribery scheme that saw him receive lavish gifts, including gold bars, a luxury sports car, and hundreds of thousands of dollars, in exchange for advancing the interests of Egypt and Qatar in his home state of New Jersey. Democratic lawmakers immediately called on Menendez to resign, but he may refuse to do so until after his appeal. While the extent of the corruption is “unprecedented” in US history, an expert on foreign lobbying wrote, these schemes may “go far beyond Menendez — [and] we’re only just now learning about them.”

How games control reality

Games have shaped human behavior for centuries, and dating apps are part of the latest evolution in that phenomenon, the author of a new book about games argued. An ancient Hindu hymn compared a game of dice to a drug, and the world’s first casino in Venice bankrupted the ruling class, Kelly Clancy wrote in Scientific American. She equated dating apps, advertising algorithms, and social media feeds to modern-day gamemakers since, at their core, they all employ a set of rules and a scoring system, and are used to achieve arbitrary goals. “Games designed by corporations permeate our lives, even as the rules of those games remain mostly hidden to us,” she wrote.

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Dehumidifying tech cuts AC energy use

New dehumidifying technologies could massively reduce the energy used for air conditioning. About 10% of the world’s energy goes on cooling things down, and that will only rise as the world warms. But in humid conditions cooling is more difficult, and much of that energy goes to stripping moisture out of the air. Two US firms developed ways of making dehumidifying up to 90% more efficient, using moisture-loving materials as desiccants, or drying devices, WIRED reported. Other companies are working on ways to reduce the cost and emissions associated with air conditioning: One uses off-peak electricity from renewable sources to freeze water in insulated capsules at the top of large buildings, which is then thawed during hot periods to cool the structure below.

‘Sky island’ reveals unique species

A remote Mozambique rainforest that has yielded dozens of new species will be turned into a protected area. Mabu is a “sky island” — an isolated mountain cut off from similar habitats by lowlands, where species evolve in isolation, like on real islands. Unknown to the outside world until 2004, scientists have since found at least 25 unique species, including snakes, chameleons, and catfish, as well as one of Africa’s rarest birds clinging on in its highest ridges. Despite being the largest single block of rainforest in southern Africa, Mabu was protected by its remoteness and by civil war keeping outsiders away. The Mozambique government has pledged to protect 30% of the country’s land by 2030, with Mabu a key part.

World’s rarest whale found in New Zealand

The world’s rarest whale is thought to have washed up on a New Zealand beach. The spade-toothed whale has never been seen alive: It is known to live in the southern Pacific, but its lifestyle, habitat, and numbers are unknown — probably because, like its relative the Cuvier’s beaked whale, it dives deep and surfaces rarely. The 15-foot specimen was found in Otago on New Zealand’s South Island and researchers will work with local Maoris, who consider whales sacred, on how to examine it. “This is going to lead to some amazing science and world-first information,” said Hannah Hendriks, marine technical adviser for the Department of Conservation in New Zealand.

July 17:

• The European Parliament holds a debate on continued support for Ukraine.
• Emmy Awards nominations are announced.
• Donald Trump’s VP pick, Sen. JD Vance, is set to speak at the Republican National Convention.

Mongolia’s Olympic attire has won over the internet. The opening ceremony outfits by Ulaanbaatar-based fashion label Michel&Amazonka feature embroidered vests and pleated robes inspired by traditional Mongolian garments. The outfits, which also include ceremonial earrings and embroidered bags for the female athletes, were unveiled in glossy photos that resembled a couture fashion campaign. The designers said they wanted to “express the essence of Mongolian tradition and culture” in a “contemporary light.” The landlocked East Asian country is sending more than 30 athletes to the Olympics in Paris this month.

• ‘CEOs are shocked’ that JD Vance is Trump’s running mate.
• Donald Trump may be the luckiest man in the world.
• Italy reconsiders nuclear energy 35 years after shutting down last reactor.