Bankruptcies Hit 13-Year High

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BUSINESS & ECONOMY

📉 U.S. Corporate Bankruptcies Exceed Pandemic Peak, Raising Economic Alarms

Corporate bankruptcies in the U.S. reached 75 in June, surpassing the pandemic-era peak of 74 in July 2020. This rise is driven by high interest rates, supply chain disruptions, and reduced consumer spending. With 356 filings year-to-date, it's the highest in 13 years. S&P Global stated, “Struggling companies continue to face significant challenges.”

📉 Inflation and Deficit Worse Under Trump Than Biden

A Wall Street Journal survey indicates that inflation, deficits, and interest rates would be higher under Trump compared to Biden. Out of 68 forecasters, 56% believe Trump's policies, particularly on trade and immigration, would drive inflation higher. Economists also predict a lower GDP growth and a slight increase in unemployment under Trump.

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WORLD

⚓️ China and Russia Begin Naval Drills After NATO's Criticism

 China and Russia began joint naval drills in Guangdong, China, days after NATO labeled Beijing a "decisive enabler" of Russia’s war in Ukraine to showcase naval capabilities in security threats, including anti-missile exercises, sea strikes, and air defense. This follows NATO's communiqué focusing on China-Russia ties. NATO stated, “China seeks security at others’ expense.”

🌍 Peak Global Population in 60 Years, Then Decline

Earth's population will peak around 10.3 billion in the mid-2080s before declining, according to a UN report. This drop, influenced by lower fertility rates in major countries like China, marks a significant change from earlier predictions. Li Junhua, UN Under-Secretary-General for Economic and Social Affairs stated, "The demographic landscape has evolved greatly in recent years." 

SCIENCE & TECH

📱 AT&T: Hackers Accessed Call and Text Records of Nearly All Customers

AT&T revealed that hackers accessed call and text records of nearly all its cellular customers from May 1 to October 31, 2022. The hackers exploited a third-party cloud platform but did not obtain the content of calls or texts. AT&T is cooperating with law enforcement and assures, "At this time, we do not believe that the data is publicly available.”

🍏 Apple Approves First PC Emulator for iPhone & iPad

Apple plans to release UTM SE, the first PC emulator for iPhone and iPad, on the App Store allowing users to run older versions of Windows, macOS, and more on their devices. It will be available for download from the App Store or AltStore PAL in the EU. UTM SE supports VGA and terminal modes, and it can emulate x86, PPC, and RISC-V architectures.  

SPORTS & ENTERTAINMENT

🌟 Shannen Doherty, '90210' & 'Charmed' Star, Dies at 53

Shannen Doherty, beloved star of "Beverly Hills, 90210" and "Charmed," passed away at 53 after a prolonged battle with breast cancer, which metastasized to her brain. Doherty first gained fame in the 1990s, becoming a household name. Co-star Jason Priestley stated, "She was a force of nature, and I will miss her."

🎾 Alcaraz Crushes Djokovic in Wimbledon Final

Carlos Alcaraz triumphed over Novak Djokovic in the Wimbledon final, winning 6-2, 6-2, 7-6. The victory, marked by Alcaraz's powerful serve and tactical superiority, was Djokovic's first straight-sets defeat at Wimbledon since 2013. Alcaraz's win secures his second Wimbledon title and fourth Grand Slam, completing a French Open-Wimbledon double this year. Alcaraz stated, "I’m really happy to be in this situation."

🏆 Spain Clinches Euro 2024, Defeats England 2-1 in Dramatic Final

Spain clinched their fourth European Championship, beating England 2-1 in a thrilling Euro 2024 final in Berlin. Nico Williams opened the scoring for Spain, while Cole Palmer equalized for England. Mikel Oyarzabal's late goal secured the victory. King Charles III praised England's effort, stating, "Hold your heads high your success is a great achievement that brings the pride of a nation." 

🏈 Former Ravens Super Bowl Star Jacoby Jones Dies at 40

Former NFL wide receiver Jacoby Jones, famed for his 108-yard Super Bowl kickoff return, died at 40. He played for the Texans, Ravens, Chargers, and Steelers from 2007 to 2015. The Texans announced his death without disclosing the cause. Former teammate J.J. Watt said, "He was one of the most fun-loving teammates and people I’ve ever been around."

OTHER NEWS

🔒 Gunman's Rooftop Identified as Security Risk Before Trump Rally

The Secret Service identified the rooftop where a gunman shot at former President Trump as a security risk days before the Butler, Pennsylvania rally. Despite this, it wasn't secured. The gunman fired during Trump's speech, injuring Trump and two others. A former agent said, "Someone should have been on the roof or securing the building."

🔒 No Security Changes for GOP Convention After Trump Rally Shooting

Following a shooting at a Trump rally, law enforcement confirmed no changes to the Republican National Convention's security plan. Wisconsin's governor called for stricter gun laws, but officials believe the 18-month plan is adequate. The FBI reports no threats while, Secret Service coordinator Audrey Gibson-Cicchino stated, "There have been no changes to our current operational security plans.”

THIS DAY THAT YEAR

On July 15, 2006, cofounders Jack Dorsey, Evan Williams, and Biz Stone publicly launched their microblogging website, Twitter. The platform quickly gained immense popularity, amassing over 300 million users worldwide within a decade.

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