SpaceX is in talks to raise funds and sell insider shares in a deal that could value the company at around $400 billion, according to sources familiar with the matter. This would mark the highest valuation ever for a privately held U.S. company, surpassing its previous $350 billion valuation from a December share buyback, and putting it on par with major private firms like ByteDance and OpenAI.

The high valuation is driven by the rapid growth of SpaceX’s Starlink satellite internet business, which reportedly generates more than half of the company’s annual revenue, as well as ongoing progress with its Starship rocket program. Despite recent setbacks, including a major test stand explosion in Texas in June, the company remains a leader in rocket launches. SpaceX, officially known as Space Exploration Technologies Corp., did not respond to requests for comment.

The funding plan reportedly includes a primary round where a limited number of new shares would be sold to investors. At the same time, the company plans a secondary offering of shares held by employees and early investors, with pricing tied to the primary round. Sources noted that these plans could change based on buyer and seller interest, as seen in past buybacks. Meanwhile, Elon Musk, the world’s richest person and SpaceX CEO, is once again publicly clashing with U.S. President Joe Biden over policy issues and has hinted at creating a new political party, further straining his former ties with the White House.
Disclaimer: This image is taken from Bloomberg.

Five Israeli soldiers were killed overnight in northern Gaza, according to the Israeli military on Tuesday. Additionally, two soldiers sustained serious injuries. At the same time, health authorities in Gaza reported that Israeli airstrikes at two separate sites resulted in the deaths of 18 people. Israeli media outlets reported that the soldiers were on patrol when explosive devices were detonated, and militants opened fire on reinforcements attempting to retrieve the casualties.

This escalation in violence comes as Israel and Hamas are reviewing a U.S.-supported ceasefire plan aimed at halting the 21-month-long conflict. The recent fatalities follow a deadly incident about two weeks ago, when seven Israeli soldiers were killed after a Palestinian attacker planted an explosive on their armored vehicle—marking one of the deadliest days for Israel in recent months.

Health workers at Nasser Hospital said one airstrike hit tents housing displaced civilians in Khan Younis, southern Gaza, killing four people. Another strike in the same area claimed four more lives, including a family of four—parents and their two children. In central Gaza, an Israeli airstrike targeted a group of people, killing 10 and injuring 72 others, according to Awda Hospital in Nuseirat.
Disclaimer: This image is taken from PTI.

On Monday, July 7, an Australian woman, Erin Patterson, was convicted of murdering three elderly relatives of her estranged husband by serving them a meal poisoned with deadly mushrooms. She was also found guilty of attempting to murder a fourth person, in a high-profile case that has captured national attention.

Patterson, aged 50, faced charges for the deaths of her mother-in-law Gail Patterson, father-in-law Donald Patterson, and Gail’s sister, Heather Wilkinson. She was also accused of trying to kill Heather’s husband, Ian Wilkinson. The four victims had gathered at Patterson’s home in Leongatha, a small town located about 135 kilometers southeast of Melbourne, where she served them individual portions of Beef Wellington later found to contain death cap mushrooms.

Despite pleading not guilty and claiming the poisonings were accidental, Patterson was convicted on all four counts after a jury reached its verdict. Sentencing is yet to be scheduled, but she faces a maximum sentence of life in prison. The trial, held in Morwell at Patterson’s request, lasted ten weeks and drew significant international attention. Courtroom 4 at the Latrobe Valley Magistrates’ Court was packed with local and foreign media, and national broadcaster ABC’s daily coverage of the case became one of Australia’s most-followed podcasts. Several documentary productions about the case are also underway.

According to lead prosecutor Nanette Rogers, Patterson carried out a complex plan involving multiple layers of deception to execute the murders. She allegedly faked a cancer diagnosis to persuade her guests to attend the meal, served them food laced with poison while eating a separate, safe portion herself, and later pretended to be ill to divert suspicion. When police began investigating, she attempted to cover up her actions by destroying evidence and misleading authorities.

During the trial, Patterson testified as the sole witness in her defense, represented by a legal team led by prominent Melbourne barrister Colin Mandy. Over eight days on the stand, including five under cross-examination, she spoke about her long struggle with weight issues, low self-esteem, and an eating disorder. She claimed the false cancer story was not intended to lure her relatives but was a misguided attempt to seek their support in telling her children she was planning weight-loss surgery.

Patterson also explained that she didn’t fall seriously ill like her guests because she had secretly eaten a cake brought by her mother-in-law and later purged due to binge eating. The jury, consisting of seven men and five women, began deliberations on June 30 and reached a decision after a week. Justice Beale acknowledged the trial’s emotional toll and complexity by exempting the jurors from future jury duty for the next 15 years.
Disclaimer: This image is taken from Reuters.

A newly passed tax-cut and spending bill backed by President Donald Trump has temporarily steered the U.S. away from the risk of defaulting on its debt, but experts warn it significantly worsens the country’s long-term fiscal outlook. The bill, approved by House Republicans on July 3, extends Trump's 2017 tax cuts, increases funding for border security and the military, and implements major reductions to Medicare and Medicaid. While it raises the federal borrowing limit by $5 trillion—pushing the cap above the projected $36.1 trillion debt ceiling and avoiding a potential default—it also adds trillions to the national debt. Trump is expected to sign it into law.

This move postpones the "X-date," when the Treasury would no longer be able to fulfill its financial obligations, previously expected around late August or early September. However, fiscal analysts say the bill adds $3.4 trillion in debt over the next decade, straining the U.S. bond market and threatening the nation's financial stability. Analysts like Mike Medeiros from Wellington Management noted that the bill exacerbates long-term concerns about rising deficits, ballooning debt, and inflationary pressure. Investment firm BlackRock also cautioned that foreign interest in U.S. debt is fading, raising fears that demand for the government’s weekly $500 billion in bond issuance could decline—driving up borrowing costs.

According to the Congressional Budget Office, the legislation reduces tax revenue by $4.5 trillion, cuts federal spending by $1.2 trillion, and may cause 10.9 million people to lose federal health insurance coverage over the next ten years. Despite these warnings, the bill contains provisions that stimulate economic growth—such as full deductions for equipment and R&D investments—which could boost corporate earnings and short-term GDP by up to 0.5% next year. Yet many investors are wary that the added debt could eventually dampen this growth.

Some financial experts, including Ellen Hazen from F.L. Putnam, predict the bill may lift equity markets but drive up long-term Treasury yields, reducing the appeal of fixed-income investments. The recent uptick in 10-year Treasury yields suggests growing investor anxiety over fiscal sustainability. Andrew Brenner from National Alliance Capital Markets warned that bond vigilantes—investors who penalize poor fiscal policy by selling off government bonds—are returning, pressuring lawmakers to take deficit reduction more seriously.

While the bill removes the immediate threat of a U.S. debt default by raising the borrowing limit, it has only offered short-term relief. Treasury bill yields due in August had already shown signs of market stress before the bill's passage. Now, analysts expect those yields to settle slightly with the risk of a default diminished. Overall, market response to the bill has been restrained. Investors had already anticipated wider deficits following Trump's reelection, and attention has shifted to concerns over economic performance and interest rate policies. The S&P 500 hit a record high on Wednesday, fueled by tech stock gains and progress on trade deals. However, a surprisingly strong jobs report later cooled expectations of near-term Federal Reserve rate cuts. Robert Pavlik of Dakota Wealth noted that corporate earnings and Fed policy remain the primary market drivers—not the debt bill itself.
Disclaimer: This image is taken from Reuters.

U.S. President Donald Trump officially signed his key tax and spending bill into law during a grand Independence Day event at the White House, which included a stealth bomber flyover. Hairianto Diman and Susan Ng spoke with Carl Weinberg, Chief Economist and Managing Director at High Frequency Economics, to explore the bill’s specifics and its potential effects.
Disclaimer: This Podcast is taken from CNA.

U.S. President Donald Trump is anticipated to announce his choice soon for Jerome Powell’s successor as Federal Reserve Chair, even though Powell’s current term runs until May 2026. Hairianto Diman talks about potential candidates with Chris Weston, Head of Research at Pepperstone.

Disclaimer: This Podcast is taken from CNA.

A ceasefire between Israel and Iran seems to be holding, despite some early breaches from both sides. However, a preliminary U.S. intelligence report suggests that recent American strikes on Iranian nuclear sites may have only delayed Tehran’s nuclear program by a few months. This raises questions about the likelihood of further violations and how U.S. President Donald Trump might respond. Andrea Heng and Hairianto Diman speak with Professor Lawrence Rubin from the Sam Nunn School of International Affairs at the Georgia Institute of Technology to explore the situation.
Disclaimer: This Podcast is taken from CNA.

Following the recent acquisition of an international firm, the company has appointed a key team member to lead the training of the incoming staff. The focus now shifts to ensuring a smooth transition, with a strong emphasis on cultural sensitivity, clear communication, and inclusive onboarding practices. The initiative aims to bridge operational and cultural gaps, helping new employees integrate seamlessly into the existing corporate environment.
Disclaimer: This podcast is taken from CNA.