USA - Stock markets are plunging around the world. Cryptocurrencies are in freefall. And millions of private investors are beginning to panic. I fear we are witnessing the beginnings of a global crash as the boom in artificial intelligence (AI) stocks turns to bust. The boss of Google warned only yesterday, if that happens, ‘no company is going to be immune’. It would almost certainly trigger a broader, bigger sell-off that would shake business and consumer confidence, cut investment and spending and potentially cause a global recession. It would also ravage the retirement hopes of millions of British savers whose pensions are increasingly tied to the fortunes of just a handful of the US tech companies that have come to dominate stock markets in recent years. The so-called ‘Magnificent 7’ – Nvidia, Apple, Microsoft, Google’s Alphabet, Amazon, Facebook-owner Meta and Tesla – now make up around a third of the benchmark S&P 500 index. It means when they sneeze – as they are doing now - everyone catches a cold.

USA - Washington's Mount Rainier has suddenly awoken and is buzzing with almost nonstop activity for days, stoking fears that an eruption could come soon. The mountain is one of America's most dangerous volcanoes, towering over millions of people in major cities such as Seattle, Tacoma, and Yakima in Washington, and Oregon's most populous city of Portland. It doesn't mean Mount Rainier is going to erupt at any moment, but it is a warning sign that volcanic activity could eventually build towards a critical level. Geologists will be watching for key signs of this volcanic tremor escalating, including its severity increasing in the coming days, actual earthquakes starting inside the volcano, and the ground at Mount Rainier beginning to swell. Volcano watchers on social media spotted the fresh readings from PNSN, noting that vibrations under the mountain went from normal to chaotic in a matter of hours. Mount Rainier has already experienced massive swarms of earthquakes earlier this year, sparking fears of an imminent volcanic explosion.

UK - Ultraprocessed foods (UPFs) have led to a “pandemic of chronic disease” such as cancer and diabetes, global experts have warned. Writing in The Lancet, 43 scientists and researchers argued that UPFs are “displacing” fresh foods and meals, as food firms “put profit above all else”. They have called for governments around the world to start treating food manufacturers like the tobacco industry, and introduce measures such as taxing UPFs and banning adverts. The term UPF is used to refer to mass-produced foods with multiple ingredients and additives, which could not be created in a home kitchen, and which make up more than half the typical British diet. Examples include processed meats, mass-produced bread, fizzy drinks and some breakfast cereals. Diets high in UPF have been linked to an increased risk of 32 different diseases, including diabetes, cancer, heart disease and depression.

USA - The most fearsome ship on the seven seas is the USS Gerald R Ford, the American Navy’s flagship aircraft carrier. This lethal jewel in Uncle Sam’s crown displaces an astonishing 100,000 tonnes, boasts two nuclear reactors, has a combat range of over 1,000 miles and can withstand an explosion equivalent to a 3.9 magnitude earthquake. Partly, it was the presence of this behemoth in the eastern Mediterranean in 2023 that deterred Iran and Hezbollah from joining the Hamas-led assault on Israel after October 7, preventing the region from collapsing into a haphazard, all-out war. That was how the Biden administration used its biggest stick. But this is the era of Donald Trump and on Sunday, the USS Ford moved into view off the coast of Venezuela – the economy of which is more than 280 times smaller than that of the United States – joining some 10,000 troops and dozens of warships, submarines and fighter jets in the biggest American military mobilisation since the Iraq War.

USA - The boss of Google's parent firm, Alphabet, has warned that no company would be immune if the artificial intelligence (AI) bubble bursts. Sundar Pichai told the BBC that while the level of investment in AI had been an 'extraordinary moment', there was some 'irrationality' in the ongoing boom. Asked whether Google would be immune to the impact of the AI bubble bursting, Pichai said the business could weather the potential storm, but issued a warning. He said: 'I think no company is going to be immune, including us.' The warning came as stock markets lurched lower once again with the FTSE 100 falling 115 points or 1.2 per cent in early trading on Tuesday. The International Monetary Fund and Bank of England have both warned of the risk of an AI bubble in recent weeks.

USA - Bitcoin has seen its gains for the year wiped out as concerns [mount] that the artificial intelligence (AI) bubble is about to burst. The value of the world’s most popular cryptocurrency tumbled below $93,000, down from its all-time high of more than $126,000 just six weeks ago. Its fall was described as an ‘ominous signal’ for wider markets, after a chaotic period over the past week, when a Wall Street sell-off was followed by a sharp plunge in the FTSE 100 on Friday. Investors are anxious over warning signs that a surge in AI stocks that has propelled US markets to a series of highs could prove overdone. Chip maker Nvidia, which reports financial results tomorrow, has been the biggest beneficiary of the bull run, making it the world’s most valuable company. Yesterday, however, it emerged that tech billionaire Peter Thiel had sold his entire stake in Nvidia, worth an estimated $100 million (£76 million). It follows the decision by Japanese investing giant Softbank to dump its £4.4 billion holding in the chipmaker...

EUROPE - Donald Trump’s administration is growing increasingly frustrated over trade with the European Union, as talks are set to continue next week. Jamieson Greer, the US trade representative, has warned the bloc that trade remains a “flashpoint”, as other officals claim they are “slow” to cut tariffs. Mr Trump’s top negotiator said that the EU’s levies on American exports are still extremely high after the deal that the US President struck with European Commission president Ursula von der Leyen earlier this year. “Trade has always been a flashpoint,” Mr Greer told the Financial Times. "They have many regulations and non-tariff barriers that block our exports and reduce our effective market access over there, while we historically have had very broad access for them... It’s quite unbalanced.”

UK - New technology requires data centres whose energy needs are likely to increase emissions. The Government is a big fan of AI data centres. So much so that a year ago, it designated them as critical national infrastructure. Preliminary analysis for the Government found that UK data centre capacity could rise from around 2 gigawatts (GW) today to as much as 6.3 GW by 2030, but even that may not be enough to meet demand.

GERMANY - Once upon a time, the economies of Germany and France were considered the financial rocks upon which the eurozone’s stability rested. They were the glue that prevented the European project from unravelling amid the profligacy of their cousins in the South. No more. The Chancellor may be quietly reassured that Britain is not the only European powerhouse struggling to retain its status as a safe haven.

GERMANY - The Islamisation of Germany is on full view in the city of Hanau, birthplace of the Brothers Grimm who gave the world their fairy tales of Rotkäppchen – Little Red Riding Hood – Rapunzel, Hänsel und Gretel and many more. Dominating the streets leading off from the square are endless kebab shops, fast-food takeaways, restaurants and grocery shops, most of them displaying signs that food is “halal” and thereby compliant with Islamic dietary laws. As a veteran of Iraq and Afghanistan, I couldn’t help but be struck by all of this – along with all the Arabic spoken and the As-Salaam-Alaikum greetings – especially the presence of the Afghan Starway restaurant and the Kabul Central supermarket.