Real-time News

Iranian Foreign Ministry Spokesperson Baghae: We strongly condemn the terrorist attack in southwestern Pakistan that resulted in the deaths and injuries of several Pakistani citizens. On behalf of Iran, I extend my deepest condolences and sincere sympathies to the families of the victims, the people of Pakistan, and the government of Pakistan.

According to the New York Times, Qatar is negotiating with the United States and Iran to ease tensions.

On July 10th, it was reported that Beatrice Patin, a senior executive at the fashion group Inditex, has resigned after more than 40 years with the company, including 25 years at the helm of its flagship brand, Zara's women's wear business. Inditex announced on Friday that Patin, who has served on the Inditex management board since 2021, will be succeeded by Alfredo Ferro, the current director of Zara's Basic collection. Inditex is currently transitioning to higher-priced, more upscale apparel and is actively pursuing exclusive collaborations with fashion designers and photographers. Recent examples include Zara's collaboration with designer John Galliano and a collection launched in partnership with pop singer Bad Bunny. While Zara has consistently driven Inditex's bold fashion strategy, its growth has slowed in recent years.

French presidential palace: NATO Secretary General Rutte and Ukrainian President Zelensky will attend a meeting of the Ukrainian "Volunteer Union" in France on Monday.

On July 10th, JPMorgan Chase stated that Volkswagen may further reduce production capacity in Europe to ensure the company achieves its financial targets, but this could be completed in the coming years, possibly into 2029-2030. The company outlined its strategic plan aimed at enhancing the group's overall competitiveness, improving its cost structure, and achieving more efficient use of capital. Analysts Jose M. Asumendi and Piyush Singla wrote, "We look forward to discussions with management during the upcoming second-quarter results to gain further insight into any potential measures regarding the European manufacturing footprint." The bank maintains a neutral rating on Volkswagen shares with a target price of €110.

On July 10th, Jiumaojiu (09922.HK) announced that in the second quarter of 2026, the operating performance of the Group's main brands remained robust. Among them, Tai Er's same-store sales in mainland China continued to maintain double-digit year-on-year growth, further improving compared to the first quarter, demonstrating the brand's enhanced resilience. During the period, the Fresh Living model stores continued to outperform the overall performance, continuously driving the improvement of Tai Er's operating performance in mainland China. As of June 30, 2026, Tai Er had launched 340 Fresh Living model stores in mainland China, covering 92 core cities nationwide. Furthermore, the new generation 6.0 Fresh Living model store was officially launched in Guangzhou in early July 2026, further optimizing the product structure and continuously upgrading store design and customer experience, with initial operating data showing positive results. The Group believes that with the continuous iteration and upgrading of the Fresh Living model and the gradual completion of adjustments to the remaining stores, Tai Er's operational resilience in mainland China will continue to be evident in the second half of the year.

The European Council has approved Hungary's new Recovery and Resilience Plan (RRP). The EU states that this new plan will allow for €10 billion in funding to Hungary, including approximately €6.5 billion in grants and €3.5 billion in loans.

Citizens: Lowered its price target for Meta Platforms (META.O) from $825 to $800.

On July 10th, Andrew Hitz, Global Head of Fixed Income Research at Morgan Stanley, stated that the bank is closely monitoring three major obstacles that could cause a summer setback for the stock market; historically, summer is typically the strongest season for stock market performance. The first major risk is a resurgence of the conflict with Iran. Hitz stated, "The US Strategic Petroleum Reserve has fallen to a historic low, and if the conflict escalates again, this could weaken its ability to withstand shocks." The second major risk is a Federal Reserve interest rate hike. Hitz pointed out that the expectation that the Fed will keep interest rates unchanged until the end of the year is one of the key pillars supporting the current stock market bull run. "The risk is that this assumption may be wrong, and that mistake could soon become apparent. Of course, there is the view that if the Fed is concerned about inflation, it should not delay its actions." The third is a weakening outlook for AI capital expenditures. Hitz said, "The risk is that second-quarter earnings reports may show a more cautious approach to spending, perhaps due to the recent poor performance of some companies that have heavily invested in AI. Given the current high correlation between growth and earnings prospects and AI, and investors' strong preference for AI-related stocks, this situation poses a risk."

The UK government stated that this designation, which involves cloud services, aims to minimize the impact of cloud service disruptions.

On July 10th, Q Technology (01478.HK) announced that, in June 2026, the sales volume of the company and its joint venture, Q India, for its main products was as follows: Mobile phone camera modules: 39.715 million units, a decrease of 12.0% month-on-month and an increase of 21.6% year-on-year; among which, camera modules with less than 32 megapixels: 25.006 million units, a decrease of 9.8% month-on-month and an increase of 56.0% year-on-year; Camera modules with 32 megapixels and above: 14.709 million units, a decrease of 15.5% month-on-month and a decrease of 11.5% year-on-year. Other camera modules and LiDAR: 1.785 million units, a decrease of 23.9% month-on-month and an increase of 5.0% year-on-year. The total sales volume of camera modules and LiDAR: 41.5 million units, a decrease of 12.6% month-on-month and an increase of 20.8% year-on-year. Biometric modules: 11.961 million units, a decrease of 13.4% month-on-month and a decrease of 13.9% year-on-year. From January to June 2026, a total of 239 million mobile phone camera modules were produced, along with 12.314 million camera modules and LiDAR modules in other fields, and 86.948 million biometric modules. In June, QTech of India produced 10.08 million camera modules, a 6.3% increase month-over-month and a 261.0% increase year-over-year; and 1.28 million biometric modules, a 25.3% decrease month-over-month and a 36.6% decrease year-over-year.

Sources revealed that Philippine Airlines will order 15 Boeing (BA.N) 787-10s and 9 Airbus A350-1000 jets.

July 10th - According to the Wall Street Journal, the European Union is escalating its investigation into Meta, alleging it failed to adequately protect users from the addictive designs of Instagram and Facebook, and the company could face hefty fines. The European Commission released preliminary findings on Friday, concluding that Meta violated the EU's landmark Digital Services Act, which requires the world's largest online platforms to assess and mitigate risks. If the findings are confirmed, each of Meta's platforms could face fines of up to 6% of its global revenue.

Meta Platforms (META.O): Teen Accounts automatically protect teenagers and give control to parents.

European Commission: Meta Platforms (META.O) failed to adequately assess the risks to users' mental and physical health posed by its addictive design.

The European Commission stated that the allegations target Meta Platforms (META.O) features such as infinite scrolling, autoplay, push notifications, and personalized recommendation systems.

Meta Platforms (META.O): Disagrees with the EU’s allegations, which fail to accurately account for the important measures the company has taken to protect youth.

European Commission: Meta Platforms (META.O)’s current mitigation measures have failed to effectively address the risks associated with addictive features.