Extreme heat is becoming a new economic challenge for producers of Parmigiano-Reggiano—one of the most recognizable symbols of Italian exports. In Emilia-Romagna, where the famous cheese is produced, farmers and processors are forced to increase spending on cooling livestock and storing products in an effort to preserve the quality of a cheese with a history spanning more than 800 years.
Iran has threatened to extend restrictions to other strategic maritime routes used for global energy shipments amid a new round of tensions with the United States. The Islamic Revolutionary Guard Corps (IRGC) stated that Tehran is prepared to threaten “all export corridors that benefit the United States and its allies” if pressure on the country continues.
The Swiss group Richemont, which owns the Cartier jewelry house, began the new fiscal year with results that exceeded analysts’ forecasts. The main driver of growth was steady demand for Cartier jewelry in North and South America, as well as in the Asia-Pacific region.
Liang Wenfeng, founder of the Chinese company DeepSeek, has become the world’s richest entrepreneur among the founders of companies specializing in the development of artificial intelligence models. Following a new round of funding, DeepSeek’s valuation rose to $50 billion, and its founder’s net worth increased to $36 billion, according to Bloomberg, citing the Bloomberg Billionaires Index.
Bulgaria has decided to withdraw from the “coalition of the willing”—an international group of countries advocating for continued support for Ukraine. Bulgarian Prime Minister Rumen Radev made this announcement on July 14.
The European Commission has recommended suspending a 2 million euro grant awarded to the Venice Biennale following the organizers’ decision to reinstate the Russian national pavilion in the program. This was reported by European media outlets, citing a statement by European Commission Executive Vice President Henna Virkkunen.
U.S. President Donald Trump stated that Washington may take over security operations in the Strait of Hormuz and expects to receive financial compensation for doing so.
A petition has appeared online calling for the Argentine national team to be barred from participating in the 2026 World Cup. The initiative is posted on the “Argentina Out” website, which is not affiliated with FIFA, the tournament organizers, or any national soccer associations.
Unusual national dishes are increasingly becoming a tool for promoting regions, helping to shape tourism brands and attract travelers. Foods that some consider exotic, while others view as part of everyday culture, are becoming a key element of the experience economy.
A French court has issued a temporary injunction against the online retailer Shein, prohibiting it from selling products in European Union countries that feature an image that may infringe on Lacoste’s well-known crocodile trademark.
Turkish President Recep Tayyip Erdoğan presented participants at the NATO summit in Ankara with an unusual parting gift—personalized Gümüşay revolvers with a set of .357 Magnum-caliber rounds. According to Reuters, it was this diplomatic souvenir that prompted many leaders to ask questions about the rules governing the import, storage, and registration of firearms.
German clothing manufacturer Hugo Boss has recommended that shareholders reject a mandatory tender offer made by the British company Frasers Group after the latter increased its stake in the company. The company stated that the proposed price does not reflect the fair value of the business or its long-term potential.
Levi Strauss & Co. raised its revenue forecast for fiscal year 2026, anticipating growth in demand for higher-priced jeans and an expansion of its presence in the premium segment of the mass-market apparel industry. However, the company’s positive outlook failed to fully convince investors: following the release of its earnings report, the manufacturer’s stock fell by about 5% in after-hours trading.
For the first time in more than a century, the U.S. Mint is issuing an unusually shaped gold coin that is also legal tender. The new coin, called the “Liberty Bell,” commemorates the 250th anniversary of U.S. independence and will go on sale on July 16.
Meta has unveiled Muse Image, a new AI-powered image generator; however, the technology’s launch has already drawn criticism due to the potential use of Instagram users’ photos without their explicit consent.
Cybercriminals have begun to make more active use of a new social engineering tactic: they disguise phishing links as the familiar “Unsubscribe” button. Users who try to get rid of unwanted emails risk handing over their personal data to cybercriminals instead of unsubscribing from advertisements.
Chinese authorities are considering restricting foreign users’ access to cutting-edge Chinese artificial intelligence models. This issue has been discussed over the past month during meetings between representatives of the Ministry of Commerce of the People’s Republic of China and the country’s largest technology companies.
An initiative raising questions about the independence of FIFA’s decision-making process is gaining support in the European Parliament. A group of lawmakers circulated a letter among their colleagues calling for an investigation into the circumstances under which the automatic suspension of U.S. national team forward Folarin Balogun was lifted after he was sent off during the World Cup.
The Paris Administrative Court of Appeal ruled in favor of the French tax authorities, ordering LVMH CEO Bernard Arnault and his wife to pay approximately €22.5 million in additional taxes, social security contributions, and penalties. The decision will be appealed to the French Council of State.
In France, authorities are investigating the theft of about 20 exhibits from the Lalique Museum in the town of Vincennes-sur-Moder (Basse-Rhône department). The value of the stolen items, according to preliminary estimates, could reach 4 million euros. The incident has once again raised the issue of the vulnerability of small museums to organized crime.
