Isaac Francis

Cybersecurity firm Kaspersky has identified a malware framework called OkoBot that targets cryptocurrency investors through fake GitHub apps and social engineering attacks.

Professional services firm KPMG penalised seven personnel with financial sanctions reaching as high as $180,000.

• The federal government created a centralised Office of AI within the Department of the Prime Minister and Cabinet to manage national artificial intelligence policies and fast-track approvals.
• The structural alignment follows a record $6 billion in March quarter tech equipment.
• Market operators face key structural headwinds, including data centre grid integration, domestic copyright protections, and community infrastructure pushback.

• PayPal Holdings (NASDAQ:PYPL) reportedly received a $60.50-per-share acquisition proposal from Stripe and Advent International, valuing the company above $53 billion.
• PayPal reported Q1 revenue of $8.35 billion and $464 billion in payment volume, while its shares gained 13.3% after the reported offer.
• The wider digital payments sector faces pressure from changing consumer habits, competition, cost controls, and companies investing in new payment infrastructure.

• Meta announced that production of an in-house artificial intelligence processor will commence in September to reduce third-party reliance.
• The business projects total computing infrastructure spending will reach $145 billion this year to support rapid hardware scaling.
• Traditional hardware suppliers face shifting market dynamics as dominant technology platforms actively diversify their global supply chains.

• US banking associations asked Congress to amend the CLARITY Act before it advances, focusing on clearer rules for digital asset yield products.
• The proposed changes aim to align crypto regulation with existing banking supervision as banks expand digital asset services.
• Regulatory uncertainty remains a key barrier for banks, crypto firms and decentralised finance platforms operating in the US.

• The International Monetary Fund downgraded Australia's 2026 economic growth forecast from 2% to 1.9% as persistent inflation continues to cool consumer demand.
• Major Australian entities face compressing profit margins and heightened loan provisions, exemplified by recent banking updates showing quarterly profit contractions.
• Analysts project the longest stretch of sub-2% economic growth in three decades, forcing corporations to heavily manage costs amid stagnant real wages.

• Coinbase Global (NASDAQ:COIN) is investigating an AI-generated notification that incorrectly reported the result of a FIFA World Cup match before kickoff.
• The incident comes as Coinbase expands prediction markets through Kalshi while increasing the use of artificial intelligence across customer-facing products.
• AI accuracy, regulatory oversight and user confidence remain major challenges as prediction markets become more widely adopted.

• President Donald Trump said the U.S. was reinstating a naval blockade on Iran after Tehran claimed it had closed the Strait of Hormuz.
• Oil prices rose as traders weighed disruption risk through a route that carried about 20 million barrels per day in 2024, equal to around 20% of global petroleum liquids consumption.
• The main sector issue is whether higher crude prices, tanker rates, and geopolitical risk premiums can offset supply, insurance, shipping, and demand risks.

Coca-Cola (NYSE:KO) suspended Fairlife’s U.S. production on July 16 after ransomware-related access to its production systems.