Here’s the latest business news as of June 29, 2026:Markets & Geopolitics
- Stock futures are rising amid a fragile U.S.-Iran truce that halted renewed hostilities. Oil prices edged higher but remain on edge due to the uncertain situation. Asian stocks were mixed, with tech weakness in Japan and South Korea. cnbc.com
- U.S. major indices closed slightly lower on Friday (S&P 500 -0.05%, Dow -0.09%, Nasdaq -0.24%), pressured by tech and chip stocks, though healthcare/biotech showed strength. nytimes.com
Tech, Chips & AI
- South Korea unveiled a massive ~$880 billion–$1 trillion investment plan in chips and AI (involving Samsung and SK Hynix), aiming to compete with Taiwan, China, and Japan. bbc.com
- Apple raised prices on iPads and MacBooks due to surging memory chip costs (linked to AI demand, sometimes called “RAMageddon”). Shares dipped on the news; iPhones could be next. foxbusiness.com
- Baidu’s AI chip arm Kunlunxin is reportedly targeting a $50 billion Hong Kong IPO; shares jumped ~7%. cnbc.com
- Micron is on track to become one of the most profitable U.S. companies (behind only Nvidia and Google). marketwatch.com
Other Key Headlines
- China widened export curbs on Japan, targeting drone makers, nuclear firms, and defense entities. cnbc.com
- Dell shareholders approved moving its legal headquarters from Delaware to Texas. foxbusiness.com
- Medication recalls: Nearly 1 million bottles of heart/kidney and blood pressure meds flagged by FDA over potential foreign substances. foxbusiness.com
- Los Angeles delayed a $30 minimum wage for hotel workers until after the Olympics due to layoff concerns. foxbusiness.com
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