Latest news for 24 July 2026

UNITED NATIONS

Auditions for next boss.

Germany’s Annalena Baerbock moderated the first public town hall debate for UN secretary-general candidates in New York last night, ahead of an initial secret straw poll due in the all-powerful UN Security Council next week. The matchup included a sixth new candidate, Guyana’s Carolyn Rodrigues-Birkett (ambassador to the UN). (UN Web TV)

Comment: There’s been little coverage outside UN-watchers for two reasons: first, the candidates know this type of debate is really just a public legitimacy exercise, so they give the kinds of rehearsed, non-controversial answers that also make for dull TV. The other reason is that (absent any major gaffe) their answers don’t really matter — the next UN boss will realistically be decided via the usual horse-trading among the Security Council’s permanent five (US, UK, France, Russia, China). There are no guarantees, but our initial take remains unchanged: the favourite is still Rafael Grossi (Argentine diplomat running the UN nuclear watchdog), but he’s made enough enemies that Costa Rica’s Rebeca Grynspan (ex-veep) could come through the middle as the least-hated alternative. Talk of FIFA’s Infantino becoming a candidate seems more a meme at this stage.

UNITED STATES

Rebuilding the tariff wall.

President Trump has announced new 10%+ tariffs on 60 countries, including allies like Japan and Korea, key players like Europe and India, plus swing powers like Nigeria and Indonesia. (FT $)

Comment: These tariffs cite ‘forced labour’ concerns, not so much because Switzerland or Australia just got busted, but because that’s how s301 of the Trade Act empowers US presidents to impose tariffs in lieu of IEEPA’s ‘economic emergency’ basis rejected by a US court. The notice cites alleged labour breaches higher up the supply chain to widen the legislature’s net, and thereby help Trump rebuild his tariff wall against China’s oversupply. But tactics aside, a better strategy might be corralling partners then negotiating with Beijing as a bloc (like the TPP aimed to do), rather than tariffing them one-by-one while Beijing plays the stable and sympathetic bystander.

SOUTH KOREA

Diplomat data hacked.

It turns out unknown hackers just spent 10 months inside South Korea’s online diplomatic training system, yoinking the personal data of past and present Korean diplomats. (TOI)Comment: Mapping a diplomatic corps is classic intelligence work, so it’s hard to see how hacker-happy North Korea hasn’t played a role here. Also, show your HR department this story next time they pester you about completing that mandatory online training haha.

EUROPEAN UNION

Fine, have it your way.

Brussels has handed down a giant $1B fine to Google, accusing it of favouring its own apps in anticompetitive behaviour. (EuroNews)Comment: The most interesting part of this fine is maybe not the size but the tool, being Google’s first fine under Europe’s new Digital Markets Act. Interestingly, Brussels has paired the fine with some conciliatory rhetoric (praising Google’s constructive vibes), perhaps hoping Trump doesn’t again weigh in and threaten another broader trade war of attrition.

UKRAINE

The palace intrigue continues.

After firing his defence minister (Fedorov) to placate his top commander (Syrskyi), then firing Syrskyi to placate citizens angry over his firing of Fedorov, it turns out the young, popular, and tech-savvy Fedorov is now refusing President Zelensky’s offer to return in another capacity! Fedorov’s preferred defence minister job is now with a former top spy (Khmara). (BBC)Comment: It’s unclear what happens next, but Fedorov’s public profile only seems to rise each day this remains unresolved. Ditto the claims that President Zelensky’s real weakness, for all his wartime strengths, has always been managing the homefront politics.

PHILIPPINES

ASEAN family photo.

US Secretary of State Marco Rubio has used this week’s ASEAN foreign ministerial in Manila to reassure Southeast Asian allies that DC isn’t walking away from the region while it tries to stabilise ties with Beijing. (Reuters)Comment: Manila (a US ally) needs that kind of explicit reaffirmation, but the broader ASEAN regional bloc will be more sceptical after years of shifting US strategy, from Obama’s “pivot” to Trump’s “constructive relationship of strategic stability” — a term coined by China, which reacted to Rubio’s ASEAN cameo by again water-cannoning Philippine sailors.

ANGOLA

Russians charged.

A local court has convicted two Russians of espionage, finding they used cash and other means to stir up anti-government and anti-West protests, plus even intervene in next year’s elections. One told the court he was merely a businessman in town to establish a Russian cultural centre. (BBC)Comment: Angola, a major oil producer, is a key prize for East-West competition in Africa, but the current president (Lourenço) has been quietly moving Angola out of Moscow’s Cold War-era orbit. No doubt the Kremlin sees this as a strategic loss, hence the attempted ✌️cultural centre✌️.

BRAZIL

Winners from the war?

Brazil’s oil output just reached an all-time high of 4.5 million barrels per day in June, a 19% increase (YoY). (Oilprice.com)

Comment: As we flagged earlier this year, Brazil is one of several energy-producers enjoying a price bump from the Hormuz energy squeeze.