03 World

Starting this Sunday, the EU’s new AI Act begins to take effect, which includes key provisions empowering the EU to regulate AI models and apply fines to companies that fall out of compliance. The law also gives the EU investigatory powers to penalize non-cooperating companies and individuals.

The Act itself presents a challenge to AI geopolitical realities of power as nations and associations like the EU attempt to use domestic laws to affect foreign AI powers. For instance, the fines countries give to foreign companies doing business in their territory due to non-compliance with their AI rules could become weapons of war in the AI geopolitical reality of power.

EU to begin enforcing AI Act from Sunday with hefty fines for rule breakers – Firstpost news.google.com
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The European Union will begin enforcing key provisions of its AI Act from Sunday, empowering regulators to oversee AI models and fine companies that violate the bloc’s rules.

The European Union will take a major step in regulating artificial intelligence from Sunday, when authorities gain the power to enforce key provisions of the bloc’s landmark AI Act. The move allows regulators to oversee advanced AI systems, order corrective measures and impose significant financial penalties on companies that fail to comply with the law.

The AI Act, adopted by the European Union in 2024, is being rolled out in phases and follows a risk-based framework.

Under the legislation, AI systems considered to pose greater risks to people’s rights or health face stricter obligations designed to safeguard individuals.

The law also prohibits the use of AI for predictive policing, emotion recognition systems in workplaces or schools, and technologies that manipulate human behaviour.

 

The Department of Treasury is using its Exchange Stabilization Fund to buy Japanese Yen in the hopes of propping up the dangerously weak currency. This hasn’t happened in 30 years. The U.S. is not using U.S. dollars; it is using Euros.

This action follows a recent previous Treasury intervention to help a weakening Argentinian currency. That deal resulted in the loan being paid back in full (at profit). These interventions signal a shift in Treasury policy from two plus decades of international currency passivity to aggressive interventionism.

U.S. Treasury sells euros, not dollars, to help lift yen. Economists warn it could backfire fortune.com
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The U.S. is stepping in to help boost Japan’s yen for the first time in nearly three decades after the currency hit a 40-year low, but the intervention has an unusual feature: instead of selling dollars to buy yen, the New York Fed reportedly sold euros to fund the purchase.

The coordinated move on Friday lifted the yen to 157 to the dollar and marked the first time the U.S. and Japan jointly bought the currency since 1998 during the Asian financial crisis. In 2011, the U.S., alongside the G7,  weakened the yen after the Fukushima disaster caused the yen to be too strong, threatening Japan’s export-reliant economy.

Japan is estimated to have spent $52.8 billion. The exact amount from the U.S. is unknown, though a photo of Treasury Secretary Scott Bessent’s notepad suggests a range between $5 billion to $10 billion.

The Australian government is considering legislation that appears to give Australia jurisdiction over all social media companies worldwide that run afoul of their national laws. The legislation would grant Australia the power to retrieve any data from any person or company affiliated with a social media company.

X protested the bill, claiming it would “compel any person outside Australia to provide information and documents merely because they are affiliated with a company.” X claimed the bill gave no “due regard to procedural fairness, privacy, the broader impacts on online services, and Australia’s digital economy.” Elon Musk called it a “backdoor way to control access to the internet by all Australians.”

Australian Government Moves to Censor Americans with Global Free Speech Crackdown slaynews.com
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Elon Musk’s X is sounding the alarm over a sweeping new Australian censorship proposal that could allow government regulators to demand documents and personal information from people outside the country, including Americans.

In a formal submission to the Australian Senate, X warned that the legislation would dramatically expand the power of Australia’s eSafety Commissioner and reach far beyond the nation’s borders.

Under the proposal, a person would not need to live in Australia or operate an Australian company to be targeted.

They would only need to be considered “affiliated” with an online platform.

How to Stop China from Freeriding on American AI warontherocks.com
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The release of the Chinese open-weight AI model Kimi K3 has compressed a year’s worth of unresolved AI policy debate into a single news cycle. On July 21, Treasury Secretary Scott Bessent threatened sanctions against Chinese labs found to have built their models on “theft,” reporting that the government is “finding watermarks of our U.S. large language models on many of the Chinese models.” The following day, White House science advisor Michael Kratsios clarified that the Chinese AI lab behind K3, Moonshot AI, had built a sophisticated platform to copy Anthropic’s Fable model while evading detection.

Industry has been vocal about its own views, with Nvidia’s Jensen Huang declaring that American companies should “absolutely” use Chinese models that outcompete American counterparts on price. In the Washington Post, investor Bill Gurley argued that treating open models as a danger to be licensed and contained runs afoul of the free-market principles that have long powered American innovation.

Javier Milei Just Proposed a Great Idea. Every Government Should Follow His Lead. – PJ Media pjmedia.com
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Javier Milei has done great things for Argentina — and honestly, the entire region — and will continue to do so, but I have to admit that his latest proposal left me weak in the knees. He’s calling it the grillete fiscal or the “fiscal shackle,” and it’s part of a larger reform of the Central Bank’s charter that he’s sending to the country’s Congress, possibly for a mid-to-late-August vote.

Uncertainty on Iranians’ minds as Trump fluctuates on war and talk | US-Israel war on Iran News www.aljazeera.com
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Tehran, Iran – For months now, US President Donald Trump has been making nearly daily proclamations about the war on Iran – from threats of extensive bombing to claims of renewed negotiations. But Faezeh, a financial firm employee in Iran’s capital, says she has long stopped paying attention.

“His words certainly impact our lives, but I try to escape this toxic environment of uncertainty by focusing on what I can control and protecting myself and my loved ones,” the 27-year-old told Al Jazeera.

She is not the only one to do so.

As the war approaches its six-month mark, a number of Iranians are opting against chasing the non-stop headlines in an effort to protect their mental health. This week, as the threat of large-scale US military action once again loomed large, the level of expectation and concern among Iranians appeared to be much lower than on April 7, when the US president warned that “a whole civilisation will die tonight”, only to announce a ceasefire shortly afterwards.

“The US used to have presidents who talked less and did more,” asserted Roham, a colleague of Faezeh at the financial company in central Tehran. “But now with the role of social media and other outlets in which Mr Trump is well-versed, he talks more and doesn’t have to do as much,” he told Al Jazeera.

US-Iran war, Why Saudi Arabia Is Urging Trump To Step Back From Iran War, US-saudi arabia relation, donald Trump-Mohammed bin Salman www.ndtv.com
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Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) has asked US President Donald Trump to avoid launching more attacks on Iran, according to US officials. The latest episode of US-Israeli strikes on Tehran has led to fresh challenges for Crown Prince Mohammed bin Salman’s major economic plan, Vision 2030.

During a phone call on Saturday, MBS expressed concern over Trump’s plan for possible strikes on Iranian targets. The American President is considering attacks on Iran’s energy facilities after Iran’s missile strike on a US military base in Jordan and disruptions to ships passing through the Strait of Hormuz, according to Axios.

Abdullah bin Farah al-Shaya, a retired brigadier general, told Newsweek, “The Kingdom’s Vision 2030 is not merely an economic plan, but a comprehensive national project to build a diversified and sustainable economy and strengthen the Kingdom’s position as a global hub for investment, energy, logistics, tourism, and innovation.”

Rhine falls to record low levels as drought strains Europe’s rivers www.bbc.co.uk
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Renewed heatwave conditions are due to continue for at least another week, pushing temperatures above 40C in many central and southern European countries.

Germany’s Low Water Information System (NIWIS) said that 44% of the Rhine measuring stations and 78% of those on the Danube had recorded extremely low water levels at the end of July.

The Rhine – which starts in the Swiss Alps and empties in the North Sea – is one of Europe’s busiest waterways. Decreasing water levels have sparked concerns about the economic fallout of having to limit navigation and shipping.

On Friday, the navigable water depth at the chokepoint of Kaub near Koblenz hit the 2018 record low of 25cm, before recovering slightly on Monday.

Japan, US confirm joint yen-buying intervention, signal more action www.channelnewsasia.com
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Japan has been struggling to curb a relentless drop in the yen that pushes up import prices and stokes broader inflation, hitting households’ wallets and Prime Minister Sanae Takaichi’s public approval ratings.

Tokyo’s solo intervention conducted between late April and early May caused only a brief yen rebound. The BOJ’s June rate hike to a 31-year high of 1 per cent also gave the struggling currency little lasting boost.

Friday’s joint intervention followed Tokyo’s solo intervention worth up to US$58.97 billion in New York markets a day earlier.

In a sign of further Japan-US coordination, Bessent said the United States would consider increasing in coming months the size of the Federal Reserve’s repurchase facility providing temporary dollar liquidity, calling the tool an “important backstop”.

Seven killed as drone hits packed Russian beach and tourists run for their lives www.mirror.co.uk
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Drone dive-bombs beach in southern Russia killing tourists

At least seven people have been killed, including three children, as a “downed” Ukrainian drone crashed and exploded onto sunbathers on a Russian beach.

Forty people were also injured, with 21 of them taken to hospital, as the unmanned device exploded in Arkhipo-Osipovka. The drone was seen dive-bombing onto tourists at the popular beach as temperatures reached 29C.

Beachgoers have claimed no warning sirens were heard before the incident as some sheltered under sun loungers.

Trump Brands Iran Leadership ‘Unbelievably Duplicitous’ and He’s Not Wrong – RedState redstate.com
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The entire situation with Iran is growing more complicated by the day; it seems. On Sunday, President Trump announced that direct hostilities against Iran would cease pending direct talks between Washington and Tehran. Now, on Monday, it seems the Iranians are only willing to speak through mediators, as they have been doing.

President Trump promptly labeled the Iranians “unbelievably duplicitous.” Well, yes; some of us have been saying that all along. When dealing with Iran, that’s something you can safely presume.

What to know about the Iran war today:

  • President Trump called Iran’s leadership “unbelievably duplicitous” Monday after Iran said hours earlier it had no plans to hold direct talks with Washington, despite the U.S. leader’s claim that negotiations would start today.
  • Mr. Trump said Sunday that a “deal is imminent, having to do with the Hormuz Strait and also, ultimately, the denuclearization of Iran,” after calling off strikes on Iran that he said would have been the “biggest attacks since World War II.”
  • Iran’s only negotiations are with Oman, an official said Monday. The two states have had “constructive discussions” over the past week on a new, temporary route through the Strait of Hormuz.

Palestinian activist tells Tommy Robinson he’s lucky security is stopping rioters from getting him as the crowd applauds www.louderwithcrowder.com
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To be clear up front, this is a thirty-second clip that’s gone viral from an over two-hour debate on whether the right has a right to be suspicious of Islam. And in those thirty seconds, a person arguing that the right should NOT be suspicious of Islam… gives the right a damn good reason to be suspicious of Islam. Whether or not it’s a chilling threat or a dingbat who had what she thought was a zinger she should have thought through more is open for interpretation.

Representing the religion of peace is Aisha Khan Aziz. She’s the co-president of a South Asian debating society in Oxford. One of the people she is addressing is Tommy Robinson, a man who need to introduction if you’ve been with us at the Louder with Crowder Dot Com website for any extended period of time.

Iran furiously hits back at Donald Trump claim with ‘US aggression’ warning | World | News www.express.co.uk
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Iran has furiously hit back at earlier claims from Donald Trump that new talks are imminent over the reopening of the Strait of Hormuz. Iran’s foreign Minister, Esmaeil Baghaei said the regime was merely holding talks with Oman in order to establish a temporary safe route through the Strait of Hormuz.

He stated that there were no plans either to receive a delegation or to send one. He also noted that an agreement with Oman, despite its location along the strategic waterway, would not by itself be sufficient to facilitate the waterway’s reopening. Earlier, Donald Trump asserted that talks with Iran were scheduled to take place that day and claimed that Washington and Tehran had reached an agreement to reopen the Strait of Hormuz, a vital shipping route that Iran has largely restricted since the outbreak of the conflict.

Speaking on board Air Force One on Sunday, he said Iran “knew the extent of the attack because they saw it forming”, adding: “We are talking to them in the form of a negotiation. It begins tomorrow afternoon.”

Iran pledges Hamas support as Trump promotes Gaza disarmament plan www.foxnews.com
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Iranian President Masoud Pezeshkian called Hamas’ newly elected leader to congratulate him and pledge Tehran’s continued support for the group’s cause, Hamas said Monday — as President Donald Trump promotes a landmark agreement intended to strip the terrorist organization of its weapons and power in Gaza.

Pezeshkian congratulated Khalil al-Hayya on his election as head of the group’s political bureau and told him Iran would continue supporting the Palestinian cause, according to a Hamas statement posted in Arabic, and reviewed by Fox News Digital.

“We are with you, and we support you in every action you take, despite the attacks we are facing,” Pezeshkian said, according to Hamas’ account of the call.

Canadian Government Begins Arresting Citizens at Home for Sharing Wrongthink Online slaynews.com
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Canadians are reportedly being arrested at their homes over social media posts written months or even years ago after Prime Minister Mark Carney’s government enacted a sweeping new “hate speech” law that dramatically expands the state’s power to prosecute online expression.

The alarming reports were revealed by the Justice Centre for Constitutional Freedoms (JCCF).

The JCCF says it has begun hearing from Canadians who have been visited at home by government officials and charged over historical online posts following the implementation of Bill C-9, the “Combating Hate Act.”

Many of those arrested now potentially face years in prison for sharing wrongthink on social media, even if the posts were made before the law came into force.

Doctors Repair UK Baby’s Birth Defect Inside Womb In Groundbreaking Surgery, Infant Now Thriving www.ndtv.com
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A baby born with a potentially life-threatening birth defect is thriving after doctors successfully repaired the condition while he was still in his mother’s womb, marking a major milestone in foetal surgery. Theo, now five months old, became only the third baby in the world to undergo the experimental procedure as part of a first-of-its-kind clinical trial in the United States, BBC reported. The operation corrected complex gastroschisis, a condition in which the abdominal wall fails to develop properly, leaving the intestines outside the baby’s body.

Israel says it has serious concerns with Hamas disarmament deal abcnews.com
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TEL AVIV, Israel — Israel has shared “serious security concerns” with the White House regarding the proposed disarmament deal with Hamas, an Israeli official said as Israeli strikes overnight and into Sunday evening killed at least 17 people, including children, in Gaza.

The remarks by Doron Spielman, spokesperson for Israeli Prime Minister Benjamin Netanyahu’s office, were some of the first public comments since U.S. President Donald Trump announced the agreement.

Spielman told The Associated Press that Israel’s intelligence assessment is that Hamas remains committed to rebuilding its military rather than genuinely demilitarizing. He said the Israeli military would not withdraw from Gaza — where it controls more than 60% of the territory — before Hamas disarms.

Trump denounces Justice Department decision to drop Reflecting Pool charges | Donald Trump News www.aljazeera.com
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United States President Donald Trump has criticised his own Department of Justice after it decided to drop criminal charges against a former Olympic athlete for the alleged vandalism of the Lincoln Memorial Reflecting Pool in Washington, DC.

Trump voiced his opposition to the decision on Saturday, a day after US Attorney Jeanine Pirro announced she was dismissing the charges against 67-year-old competitive canoeist David Hearn.

Brazil’s Lula, 80, says he is ‘in great shape’ as he launches fourth term bid www.france24.com
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Brazilian President Luiz Inacio Lula da Silva, 80, said Sunday he was “in great shape” as he launched his candidacy for October elections, with pressure from President Donald Trump‘s administration looming over the campaign.

Lula, a leftist titan of Latin American politics who is loved and despised in near-equal measure in Brazil, highlighted what he called his stamina and good health as he addressed a convention of his Worker’s Party (PT) in Sao Paulo attended by around 3,000 people.

“I want to fight against old age. I don’t want to be shuffling along. That’s why I work out my legs. That’s why I work out my arms. That’s why I walk for an hour,” said the veteran leftist, adding he was far fitter than when he was first elected in 2002.

The former metalworker and union leader made a dramatic comeback when he returned to power three years ago after a stint in jail on corruption charges that were later annulled.

New York Times reveals Trump administration subpoena over North Korea story | Freedom of the Press News www.aljazeera.com
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The US Justice Department faces criticism for its increasing use of subpoenas in attempts to compel journalists to reveal their sources.

The New York Times has revealed that another journalist is facing a subpoena from the administration of United States President Donald Trump, this time about reporting conducted into a secret military operation in North Korea.

On Saturday, the newspaper — one of the most prominent in the country — identified freelance reporter Matthew Cole as the target of the subpoena.

UK PM Burnham vows to be ‘relentless’ on Channel migrant crossings | Migration www.aljazeera.com
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NewsFeed

UK Prime Minister Andy Burnham said his government will be “relentless” in tackling small boat crossings across the English Channel, saying crossings are down by 50% compared with the same period last year despite Britain recording its highest daily arrival figure of 2026 last week.

Brent falls below $82 per barrel, first time since July 13 – Business & Economy tass.com
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MOSCOW, August 3. /TASS/. The price of Brent crude futures contract with September delivery on the ICE exchange in London fell below $82 a barrel for the first time since July 13, according to trading data.

As of 1:00 Moscow time (10:00 p.m. GMT, August 2), Brent was down 6.74% at $82 a barrel.

By 1:10 Moscow time (10:10 p.m. GMT, August 2), Brent had pared losses to trade at $82.89 a barrel, down 5.73%.