⚡ Today in History

On July 30, 1945, a Japanese submarine sank the USS Indianapolis days after it delivered parts for the atomic bombs later dropped on Japan, and no help arrived for four days. Today? Two wars that began separately, in Ukraine and the Middle East, are colliding on the same battlefield.

Top News

Fed holds rates, keeps hike option open 3.50%–3.75%

Facing inflation still above its 2% target, the Federal Reserve left its benchmark rate unchanged at 3.50% to 3.75% on Wednesday. Chairman Kevin Warsh told reporters the central bank has "no tolerance" for persistently high prices and signaled the door remains open to a hike later this year. Wall Street sold off as investors priced in tighter policy through the fall.

Trump hosts Zelensky, Netanyahu same day

With wars in Ukraine and Iran both reaching pivotal moments, President Trump held separate White House meetings Tuesday with Ukrainian President Volodymyr Zelensky and Israeli Prime Minister Benjamin Netanyahu. Zelensky pressed for continued weapons support against Russia, while Netanyahu focused on Iran, Lebanon, and expanding the Abraham Accords. Trump described his alignment with Netanyahu on Iran as "a little difference, but pretty close."

Ukraine strikes Iranian ship in the Caspian

Ukraine expanded its war against Russia into new territory over the weekend, striking an Iranian commercial vessel and a warship in the Caspian Sea. Kyiv says the ships carried military cargo tied to Iran, and that Russian intelligence has helped Tehran target US bases in the Middle East. Iran has vowed to retaliate, raising the risk that two separate wars now overlap.

Berlin attacker had prior ISIS conviction under 2 years

Days after ramming a van into Berlin's Pride celebration and stabbing bystanders, killing one person and injuring 29, the suspect was shot dead by police in the city's Spandau district. Prosecutors have since revealed the 21-year-old German citizen served under two years in prison for attempting to join ISIS. German officials are calling the attack an act of Islamist terror.

Taco Bell lettuce outbreak grows to 9 states 1,947 sick

Traced to a single supplier of iceberg lettuce from Mexico, a cyclospora outbreak tied to Taco Bell has expanded to 1,947 confirmed cases across nine states, up from five states two weeks ago. The CDC reports at least 98 hospitalizations and no deaths so far. Taylor Farms recalled all iceberg lettuce from the affected source on July 17, and Taco Bell says it has removed the product from its restaurants.

World

Andy Burnham becomes 7th UK PM in a decade 7th in 10 yrs

Facing a cost-of-living crisis and a surging challenge from Nigel Farage's Reform UK, former Manchester mayor Andy Burnham was sworn in this month as Britain's prime minister, replacing Keir Starmer. Burnham inherits a strained National Health Service and a divided Labour Party. Burnham has promised to place the cost of living "front and centre" of his government.

Berlin Pride attack kills one, injures 29

A van rammed into crowds near Berlin's largest LGBTQ+ event on a recent Saturday before the driver stabbed bystanders with a bladed weapon. German authorities are treating the attack as Islamist terrorism. European Commission President Ursula von der Leyen called Pride a symbol of "freedom, dignity, and equality" following the attack.

India's education minister quits after protests

After days of youth-led demonstrations dubbed the "Cockroach" protests over leaked exam papers, India's education minister resigned this week. The protests, centered at New Delhi's Jantar Mantar, reflect growing frustration among South Asia's young population over education and job prospects. Analysts say the unrest could add broader political pressure on the government.

Iran, Oman hold talks on Hormuz tensions

Deputy foreign ministers from Iran and Oman met in Tehran to discuss safe passage through the Strait of Hormuz, a chokepoint for global oil shipments. The talks follow nearly two weeks of US airstrikes on Iran and a fragile pause in hostilities. Iran's foreign ministry says diplomatic channels with Washington remain open despite the standoff.

Colombia's Trump-backed president takes office Aug. 7

After winning a razor-thin runoff in June by fewer than 251,000 votes, Trump-endorsed lawyer Abelardo de la Espriella is set to be sworn in as Colombia's president on August 7. De la Espriella has pledged a hardline, Bukele-style crackdown on crime, including new mega-prisons. His rival, Ivan Cepeda, conceded the race after initially challenging the count.

Politics

Warsh's hawkish tone frustrates Trump's rate wish 3.50%–3.75%

President Trump has repeatedly pushed for lower interest rates to ease borrowing costs, but Fed Chairman Kevin Warsh, Trump's own pick, struck a hawkish tone at Wednesday's press conference. Warsh emphasized "price stability" over rate cuts, a signal that dampened hopes for near-term relief. The two men remain publicly aligned, with Trump calling Warsh "a very good guy."

Zelensky, Netanyahu attend Graham funeral with Trump

Before their separate meetings with President Trump, Ukrainian President Volodymyr Zelensky and Israeli Prime Minister Benjamin Netanyahu joined mourners honoring the late Senator Lindsey Graham at a ceremony in the Capitol Rotunda. Graham, a staunch supporter of both Ukraine and Israel, died earlier this month. Zelensky also met with senators on Capitol Hill to discuss Ukraine funding and sanctions legislation.

TPS holders may soon face deportation

The Trump administration is moving to end Temporary Protected Status for thousands of immigrants who have lived and worked legally in the US for years. Advocates warn the change could force deportations to countries still considered unsafe. The policy shift adds to a broader immigration crackdown that has defined the administration's second term.

West Virginia ex-senator ditches Democrats

A former West Virginia senator who spent his career as a Democrat has registered as an independent, saying he wants to create similar pathways for politicians in both parties. The move reflects a wider trend of elected officials distancing themselves from party labels amid voter frustration with gridlock. The switch came two years after he left office.

UK's Burnham vows broad-church Cabinet

New Prime Minister Andy Burnham has promised a Cabinet that reflects all factions of the Labour Party after replacing Keir Starmer this month. Burnham faces pressure from Reform UK, led by Nigel Farage, which currently tops national polls. Burnham has pledged to avoid mimicking Reform's platform, telling party officials Labour will win by being "authentically us."

Markets

Stocks fall as Fed signals no rush to cut 3.50%–3.75%

Major US indexes dropped Wednesday after the Federal Reserve held its benchmark rate steady and Chairman Kevin Warsh emphasized inflation risk over rate relief. Treasury yields climbed as traders pushed back expectations for a rate cut. The reaction extended a choppy week already weighed down by a global semiconductor sell-off.

Dow rose, S&P flat before Fed as Iran pause held +262 pts

Ahead of the Fed decision, the Dow Jones Industrial Average gained 262.83 points, or 0.51%, to close at 52,210.08 on Monday. The S&P 500 added just 0.02% to 7,413.18, while the Nasdaq Composite slipped 0.18% to 24,932.08. Oil prices fell after the US and Iran paused their military strikes and resumed talks.

Korea's Kospi plunges on chip fears -10%

Fears over AI-related "circular financing" deals between chipmakers triggered a rout in South Korea's Kospi index, which tumbled more than 10% this week. SK Hynix and Samsung Electronics, the country's top memory chipmakers, each fell more than 13%. The selloff spread to the US, dragging down Nvidia, Micron, and Advanced Micro Devices.

Gold holds near $4,100 as Middle East calms $4,100/oz

Gold prices steadied near $4,100 an ounce as easing tensions between the US and Iran pushed oil prices lower and eased inflation fears. The metal had dropped nearly 2% the prior week on hopes for a diplomatic resolution in the Middle East. Bitcoin traded near $65,000, moving largely in step with broader tech stocks.

Yum Brands faces investor questions on outbreak

Wolfe Research says Taco Bell has drawn the bulk of online criticism over the cyclospora outbreak tied to contaminated lettuce, accounting for roughly 20% of related social media conversation at its peak. Rival chains including Cava, Sweetgreen, and Chipotle have largely avoided similar scrutiny. Parent company Yum Brands had flagged foodborne illness as a risk factor in its most recent annual filing.

Entertainment

Emma Roberts marries Cody John in Idaho

Actress Emma Roberts married Cody John in a ceremony in Sun Valley, Idaho, on July 25. Roberts wore a two-piece black Monique Lhuillier dress for the reception that followed. Her aunt, Julia Roberts, was seen enjoying the Idaho trip with her daughter Hazel after the celebration.

Selena Gomez marks 34th birthday in Italy

Singer and actress Selena Gomez celebrated her 34th birthday with husband Benny Blanco during a vacation in Italy this week. Gomez wore a white lace dress from De La Vali for the occasion. The couple married last year after a long-rumored relationship.

Ryan Reynolds FaceTimes Blake Lively at Comic-Con

Actor Ryan Reynolds surprised fans at the 2026 San Diego Comic-Con by taking a FaceTime call from his wife, Blake Lively, and their 3-year-old son Olin while dressed as Deadpool. The moment quickly circulated on social media. Reynolds has played the character in multiple Marvel films.

D4vd murder case heads to trial

A Los Angeles judge ruled that singer D4vd, legally named David Anthony Burke, will stand trial in the murder case involving 15-year-old Celeste Rivas Hernandez. Her remains were found in the trunk of Burke's car in September 2025. Final text messages between the two were revealed during a July 27 preliminary hearing.

Netflix in talks for 'KPop Demon Hunters' tour

Netflix is negotiating with concert promoters to stage a live world tour based on the Oscar-winning animated film "KPop Demon Hunters," according to Bloomberg. The tour would feature songs from the movie, which won Best Animated Feature and Best Original Song at the 2026 Oscars. Promoters are aiming for arena shows in 2027 ahead of a planned sequel.