The United States will slap 25 percent tariffs on some Brazilian goods starting July 22 following a yearlong investigation under the Trade Act of 1974. The probe concluded that Brazil engaged in unfair trade practices. Brazilian President Luiz Inácio Lula da Silva condemned the move, saying it was politically motivated to favour his rival for upcoming elections, Flavio Bolsonaro. Also in this edition, we look at the Japanese firm trying to bring back 1980's style corporate culture.

Official data released on Wednesday shows China's GDP grew 4.3 percent in the second quarter, compared to a year prior. The last time quarterly growth was that weak was in late 2022, when China was feeling the impact of the Covid-19 pandemic. Slow consumer demand, despite a surge in exports, helps explain the slowdown. Also in this edition, Gibraltar's business community breathes a sigh of relief as the physical border between the British overseas territory and Spain is removed.

Ukrainian drone strikes have brought shipping in the Sea of Azov to a near standstill, disrupting a corridor that carries up to a quarter of Russia's wheat exports and sending tremors through global grain and oil markets. They have also knocked out a significant share of Russia's refining capacity, prompting Moscow to ban diesel exports until the end of July and further unsettling global oil markets. In Russian-occupied Crimea, petrol prices have reached a record high.

Crude oil prices surge as renewed US-Iran strikes fuel market fears. In France, real-estate agents say property buyers are changing priorities as heatwaves become more frequent. And Cuba suffers another nationwide blackout amid the impact of US sanctions.

As the World Cup quarterfinals get under way, the race to number one between Nike and Adidas heats up. India and Australia sign a new uranium deal. And, OpenAI rolls out its newest model GPT-5.6 Sol to the general public.

Italy's second biggest bank, Unicredit, is closing in on a takeover of Germany's second biggest bank Commerzbank after saying it secured 47.6% of the lender's shares on Wednesday. The move is facing widespread opposition in Germany, notably from the federal government, which has a 12% stake in the company. Also, new "freedom fuel" filling stations are appearing across the United States, offering cheaper petrol and receiving strong backing from the White House.

The US Treasury Department has announced it will no longer allow Iranian oil sales to be conducted in US dollars on global markets after several tankers were hit by projectiles while attempting to cross the Strait of Hormuz. The move has left more than 60 million barrels of Iranian crude stranded at sea without any clear buyers. Also in this edition, we go inside a Chinese air conditioning factory racing to meet soaring European demand as heatwaves drive up sales.

South Korean chipmaker Samsung Electronics posted record quarterly profits Tuesday thanks to the global AI infrastructure buildout coupled with a memory chip shortage. Also in this edition, oil futures rise as tensions reignite in the Hormuz Strait and Canada commits to its biggest-ever defence contract. Finally, Cuba experiences its third nationwide blackout of the year as its fuel reserves dwindle.

A handful of OPEC+ countries have agreed to increase their output targets from August, but the cartel is fighting for its survival after the UAE's departure. Also, A French company is using the River Seine to cool down Paris's buildings. Finally, Sky says it's buying ITV's broadcast channels and streaming service for £1.6bn.

The earthquakes that hit Venezuela in late June have devastated seaside towns where tourism has been a vital economic lifeline for an already struggling population. Also, tanker traffic picks up through the Strait of Hormuz, and Europe seeks to convince the US that it's boosting defence spending.