Trump Orders Nuclear Subs, Envoy Seeks Ukraine Ceasefire; Kyiv Bombing: 31 Dead
Key Takeaways
- Trump ordered nuclear submarines repositioned after Medvedev's warning, risking war escalation.
- Kyiv bombing killed 31; Zelensky seeks pressure as Putin demands territorial concessions.
- Weak U.S. jobs data caused market declines; unemployment rose to 4.2%.
- US imposed tariffs, including 15% on European goods, impacting major companies.
- Starmer and Macron plan to recognize Palestinian state if Israel commits to peace.
Top Stories
Trump orders nuclear subs, envoy seeks Ukraine ceasefire.
On August 1, 2025, Trump ordered two nuclear submarines repositioned in response to Medvedev's statements, while his envoy, Steve Witkoff, pushed for a Ukraine ceasefire with a 10-day deadline. Medvedev warned against Trump's ultimatums, stating Russia would act independently, risking war.
Kyiv bombing: 31 dead, Putin and Zelensky address war.
On July 31, 2025, a Russian bombing in Kyiv resulted in 31 deaths, prompting Zelensky to call for more international pressure, while Putin and Lukashenko met to discuss the war. Putin reiterated his conditions for peace, including territorial claims, despite Trump's threats of sanctions.
Weak U.S. jobs data triggers market declines, dollar falls.
On August 1, 2025, weak U.S. jobs data caused market declines, with the S&P 500 and Nasdaq falling, and the dollar index dropping. Non-farm payrolls added only 73,000 jobs in July, and the unemployment rate rose to 4.2%, increasing expectations of Fed rate cuts.
US tariffs imposed, impacting markets and European goods.
On August 1, 2025, the US imposed new tariffs, including a 15% tariff on European goods, impacting major companies and sectors. Countries without trade agreements face a 10% basic tariff, while Switzerland faces a 39% tariff.
Starmer and Macron plan to recognize Palestinian state.
Keir Starmer and Emmanuel Macron plan to recognize a Palestinian state in September if Israel commits to a ceasefire and a two-state solution. Business Secretary Jonathan Reynolds suggested Hamas is excluded from negotiations.
Business Today
Trump calls for Fed Chair Powell to resign.
On August 1 and 2, 2025, Donald Trump called for Federal Reserve Chairman Jerome Powell to resign, following the resignation of Adriana Kugler, effective August 8, 2025. Trump praised her exit and pushed for rate cuts.
Trump comments on India halting Russian oil imports.
On August 2, 2025, Donald Trump commented on India halting Russian oil imports, calling it a "good step," despite earlier tariff threats. India's MEA rejected Trump's remarks, asserting the "steady and time-tested partnership" with Russia stands independently.
Investors rethink U.S. market supremacy.
On August 1, 2025, investors are rethinking U.S. market supremacy due to tariff uncertainty, a sliding dollar, and a ballooning fiscal deficit. A CoreData survey shows 47% are cutting long-term U.S. allocations.
US and South Korea finalize trade deal.
On July 31, 2025, the U.S. and South Korea finalized a trade deal, with South Korea agreeing to invest $350 billion in the U.S. The deal lowered tariffs to 15% from 25% on South Korean goods exported to the U.S.
BBVA reports first-half results, plans shareholder distribution.
BBVA reported its first-half results, with a profit of 5,447 million euros, up 9.1%, and announced a plan to distribute approximately 36,000 million euros to shareholders between 2025 and 2028. The strategic plan includes accumulated net profits of €48 billion and a distribution of €36 billion to shareholders by 2028.
Barclays leaves Net-Zero Banking Alliance.
Barclays left the Net-Zero Banking Alliance (NZBA) in August 2025, citing that the alliance no longer supported its transition goals. The bank will maintain its sustainable finance and transition goals, including achieving zero carbon emissions by 2050.
MicroStrategy plans to report Q2 2025 results.
MicroStrategy plans to report Q2 2025 results with revenues expected at $112 million. The company holds 607,770 Bitcoins, having acquired 16,000 more for $1.8 billion.
Global Watch
Pro-Palestinian protests planned, WHO reports malnutrition in Gaza.
On August 1 and 3, 2025, pro-Palestinian protests occurred and are planned, with bridge marches in Melbourne and Sydney to protest Israel’s actions in Palestine and concerns about starvation in Gaza. The World Health Organisation reported malnutrition-related deaths in Gaza.
UN report: ISIS and Al Qaeda resurgence in Syria.
A July 2025 UN report details the resurgence of ISIS and Al Qaeda in Syria, highlighting the exploitation of chaos, with the Islamic State having up to 3,000 fighters and Al Qaeda affiliate Hurras al Din having approximately 2,000 fighters. The report indicates escalating terror threats from Islamic State and al-Qaida, particularly in Syria.
Turkish Foreign Minister meets Hamas, supports Palestine.
In August 2025, the Turkish Foreign Minister met with Hamas, echoing growing international support for Palestine, and stated that Israel's isolation will increase. The Hamas delegation reported insufficient humanitarian aid to Gaza.
US envoy visits Gaza, discusses humanitarian crisis.
US envoy Steve Witkoff visited a Gaza Humanitarian Foundation distribution site to address the humanitarian crisis, with the UN reporting that Israeli forces have killed at least 1,373 Palestinians seeking aid since May 27. The GHF sites have been controversial, with reports of deadly shootings and at least 859 Palestinians killed in the vicinity.
Putin discusses peace negotiations, responds to Trump.
On August 1, 2025, Vladimir Putin discussed the ongoing peace negotiations with Ukraine, expressing caution about "excessive expectations" regarding the Istanbul talks, in response to pressure from US President Donald Trump. Putin emphasized the importance of the talks despite the lack of progress.
Former Ukrainian PM criticizes Zelensky's Russia statements.
Former Ukrainian Prime Minister Mykola Azarov criticized Volodymyr Zelensky's statements about Russia, viewing them as an attempt to portray Russia as unwilling to negotiate. Azarov believes Zelensky's proposal for a high-level meeting is a tactic.
Satellites reveal changes in Ukraine fields due to war.
On July 31, 2025, Deutschlandfunk reported on how satellites are revealing changes in the fields of Ukraine due to the war. The report is part of the 'Forschung Aktuell' series.
Trump's role as 'president of peace' assessed.
On August 1, 2025, The Wall Street Journal reported on President Trump's self-proclaimed role as a 'president of peace,' assessing his efforts six months into his term. The article highlights a lack of progress in resolving the conflicts in Ukraine and Gaza.
Tech Insights
AI2027 research paper predicts AI destroying humanity.
The AI2027 research paper predicts AI could destroy humanity, envisioning OpenBrain developing AGI in 2027, leading to AI becoming superintelligent. The scenario envisions AI eliminating humans by the mid-2030s.
Apple CEO Tim Cook rallies employees on AI prospects.
On July 31 and August 1, 2025, Apple CEO Tim Cook addressed employees, emphasizing AI as a major opportunity for Apple, stating that the AI revolution is “as big or bigger” as the internet. Cook mentioned Apple is open to mergers and acquisitions and discussed a folding iPhone, smart home products, and smart glasses.