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Evergreen Marine director Zhang Guohua is suspected of purchasing over 90,000 shares of Evergreen Marine before major information disclosure, generating profits exceeding 2.1 billion NT dollars. The Taipei District Prosecutors Office conducted searches and questioned 9 individuals including Zhang Guohua, his brother Zhang Guozheng, and long-time Evergreen executive Ke Liqing as defendants, investigating violations of the Securities Exchange Act.
Taiwan's Food and Drug Administration updated statistics showing the carcinogenic oil scandal from Chung Lien Oil has expanded to affect 360 businesses, including general restaurants. The Ministry of Education's investigation found that 165 schools across four counties have used the contaminated oil. The FDA received notification on June 30 that Chung Lien Oil's soybean salad oil contained excessive levels of benzopyrene, a Class 1 carcinogen, affecting approximately 1,300 metric tons of oil.
South Korean memory chipmaker SK Hynix will debut on the Nasdaq stock exchange on July 10, issuing approximately $29 billion in American Depositary Receipts (ADRs). This offering is set to establish a record for the largest IPO by a foreign company in the United States, marking a significant milestone in the company's international capital market expansion.
Iran's state television reported that the body of deceased Supreme Leader Khamenei arrived in the Shiite holy city of Qom this evening. Funeral and farewell ceremonies are scheduled for tomorrow. The event has drawn significant public attention, reflecting important developments in Iran's political situation.
US President Trump stated he expects to host Chinese President Xi Jinping at the White House around September 24. The visit timing aligns with the UN General Assembly high-level meetings in late September and would mark the second face-to-face meeting between the two leaders since their May summit in Beijing. Trump mentioned the arrangement while discussing plans for a larger White House banquet hall.
🏛 Politics
Taiwan's Food and Drug Administration updated statistics showing the carcinogenic oil scandal from Chung Lien Oil has expanded to affect 360 businesses, including general restaurants. The Ministry of Education's investigation found that 165 schools across four counties have used the contaminated oil. The FDA received notification on June 30 that Chung Lien Oil's soybean salad oil contained excessive levels of benzopyrene, a Class 1 carcinogen, affecting approximately 1,300 metric tons of oil.
Strong Typhoon Bawei was located approximately 2,440 kilometers southeast of Eluanbi at 8 PM yesterday, moving northwest toward Taiwan at 32 kilometers per hour. The Central Weather Administration forecasts issuing a sea warning Thursday morning and a land warning from Thursday night to Friday dawn. Meteorologists predict Bawei will approach Taiwan with intensity between upper-level moderate and lower-level strong typhoon strength, with low landfall probability but over 80% impact risk for northern regions including Taipei, New Taipei, Keelung, Taoyuan, and Yilan.
China launched a free seven-day, six-night AI short video production program in Beijing and Tianjin targeting Taiwanese youth aged 18-40, particularly first-time visitors to China. Taiwan officials criticized the initiative as a united front tactic aimed at recruiting and training Taiwan influencers, warning young people to be cautious of potential political manipulation.
Zhonglian Oil detected excessive levels of benzopyrene, a carcinogenic substance, in soybean salad oil, with approximately 1,300 tonnes of contaminated products distributed. Taichung District Prosecutors' Office launched a special investigation focusing on three directions: tracing pollution sources and clarifying the company's criminal liability. The company was ordered to cease operations on July 1st, with Taichung Health Bureau not ruling out a third factory inspection.
Shoji Akio, a senior media figure and executive director of an Indo-Pacific strategy think tank, was punched by a 33-year-old Chinese national surnamed Liao in a hotel lobby in Taichung after giving a lecture. Police established a task force to track the suspect and successfully intercepted him at Taichung International Airport as he attempted to board a flight to Busan, South Korea. Liao was referred to the Taichung District Prosecutors Office on assault charges, with police requesting his detention to clarify the motive.
China's Taiwan Compatriots Association recently held its 23rd Taiwan Youth Summer Camp in Wuhan, Hubei, inviting over 300 young Taiwanese participants. The event took place following the implementation of China's Ethnic Unity Promotion Law in July. Officials have criticized the camp as an attempt to promote cross-strait unification consciousness among Taiwanese youth.
Taiwan's National Security Bureau Director Tsai Ming-yen warned that China's new "Ethnic Unity Progress Promotion Law" effective July 1st will implement comprehensive, systematic surveillance of foreign visitors and domestic residents. The law's vague definition of "undermining ethnic unity" grants Chinese authorities broad interpretive discretion. Officials urge Taiwanese travelers to exercise caution regarding personal safety in China.
French President Emmanuel Macron arrived in Syria today, becoming the first EU head of state to visit the country since former President Bashar al-Assad was overthrown in 2024. The visit marks international diplomatic engagement with Syria's new leadership and reflects France's strategic positioning in Middle Eastern affairs.
Iran's state television reported that the body of deceased Supreme Leader Khamenei arrived in the Shiite holy city of Qom this evening. Funeral and farewell ceremonies are scheduled for tomorrow. The event has drawn significant public attention, reflecting important developments in Iran's political situation.
US President Trump stated he expects to host Chinese President Xi Jinping at the White House around September 24. The visit timing aligns with the UN General Assembly high-level meetings in late September and would mark the second face-to-face meeting between the two leaders since their May summit in Beijing. Trump mentioned the arrangement while discussing plans for a larger White House banquet hall.
💰 Finance
International crude oil prices fell to a five-month low today as Saudi Arabia made a rare downward adjustment to Arab Light crude prices, signaling oversupply in global markets. West Texas Intermediate crude futures on the New York Mercantile Exchange declined 0.2% to $68 per barrel. The move reflects ample global oil supplies and may exert further pressure on energy markets.
International crude oil prices declined on Monday, with Brent crude falling to $71.99 per barrel and WTI dropping to $68.55 per barrel. Saudi Arabia significantly reduced official crude prices, OPEC+ decided to increase production in August, and Hormuz Strait exports gradually resumed. Market concerns about increased supply pressured oil prices back to pre-Iran conflict levels.
Evergreen Marine director Zhang Guohua is suspected of purchasing over 90,000 shares of Evergreen Marine before major information disclosure, generating profits exceeding 2.1 billion NT dollars. The Taipei District Prosecutors Office conducted searches and questioned 9 individuals including Zhang Guohua, his brother Zhang Guozheng, and long-time Evergreen executive Ke Liqing as defendants, investigating violations of the Securities Exchange Act.
Taiwan's Food and Drug Administration (FDA) convened four major oil manufacturers—Uni-President, Chung Lien Oil, Taiwan Sugar, and Chang Hui—to discuss improvement measures following the Chung Lien oil contamination incident. FDA Director Chiang Chih-kang mandated that manufacturers conduct batch-by-batch testing of soybean raw materials for benzo(a)pyrene, a Group 1 carcinogen, to strengthen oil product safety oversight.
Samsung Electronics released preliminary financial results today, with quarterly profits expected to reach 18 times the level from the same period last year. The company's annual earnings may exceed the cumulative profits of its semiconductor division over the past 40 years, potentially serving as a key indicator for future US stock market trends.
Shipping giant Maersk will resume partial shipping operations through the Suez Canal and Red Sea via a joint venture partnership with Hapag-Lloyd. The announcement caused both shipping companies' stock prices to decline due to concerns that falling freight rates could compress profit margins. Analysts view this as preparation for full route resumption before year-end.
South Korean memory chipmaker SK Hynix will debut on the Nasdaq stock exchange on July 10, issuing approximately $29 billion in American Depositary Receipts (ADRs). This offering is set to establish a record for the largest IPO by a foreign company in the United States, marking a significant milestone in the company's international capital market expansion.
The US Trade Representative's Office held a three-day public hearing starting on the 7th to discuss imposing additional tariffs of 10% to 12.5% on imported goods from 60 countries and economies under Section 301 of the 1974 Trade Act, targeting products related to forced labor practices.
Taiwan's Taipei District Prosecutors Office is investigating Chang Kuo-hua, a director of Evergreen Marine, for alleged insider trading related to Evergreen Marine's 2023 sale of EVA Airways shares. Chang was ordered to post 120 million New Taiwan Dollars bail and is prohibited from leaving Taiwan by land or sea.
Evergreen Marine director Chang Kuo-hua is suspected of insider trading, allegedly purchasing Evergreen Marine shares sold by his younger brother Chang Kuo-cheng before the company announced its plan to divest Evergreen Air shares. The transaction generated alleged profits exceeding NT$2.1 billion. Chang Kuo-cheng, who intended to use proceeds from selling marine shares to purchase airline shares but failed, was ordered to post NT$10 million bail with restrictions on leaving Taiwan and changing residence. Chang Kuo-hua remains under investigation.
💻 Technology
ByteDance's short-form video platform TikTok initiated an unannounced global layoff on July 1st, with employees in Singapore, Malaysia, Indonesia, and Dublin, Ireland receiving termination notices on the same day. Singapore headquarters emerged as a major layoff hub, with some small teams facing near-total workforce reductions. The sudden action without prior warning caused chaos in multiple offices. The company has not yet disclosed the total number of affected employees worldwide.
Wafer, an inference optimization company, released benchmark data showing AMD MI355X achieves half the cost of Nvidia B200 when running the open-source GLM 5.2 model. The MI355X achieved 2,626 tokens per second in aggregate throughput and 213 tokens per second in single-stream throughput. These results indicate AMD is narrowing the gap with Nvidia in the AI inference market and challenging the long-standing competitive advantage of the CUDA ecosystem.
Micron Technology and Ford Motor Company announced on the 6th a long-term strategic cooperation agreement (SCA) to strengthen the supply of memory and storage solutions supporting Ford's next-generation vehicle production. Following the announcement, both companies' stock prices rose during early trading on the US market.
AI company Anthropic plans to purchase at least 1.4 million kilowatts of data center capacity from Australia, significantly exceeding previous demand estimates. The construction cost for this infrastructure is projected to reach $15 billion, reflecting Anthropic's substantial computing resource requirements for AI model development and operations.
Memory chip shortages caused by AI demand surge are pushing up production costs. Samsung's next-generation Galaxy Z8 foldable phone series will see price increases, with the entry-level Flip8 priced at approximately 1.68 million Korean won (USD 1,100) in South Korea, representing a 13.3% increase from the previous generation. Similar price hikes are expected in Europe. Samsung is scheduled to unveil the Z8 series this month.
🎬 Entertainment
Norway pulled off a stunning upset against five-time World Cup champion Brazil with a 2-1 victory in the Round of 16, advancing to the quarterfinals and achieving their best tournament result. Forward Erling Haaland scored twice in the second half, bringing his tournament total to 7 goals, tied for the top of the scoring chart with Messi and Mbappé. Brazil's streak of eight consecutive quarterfinal appearances came to an end.
Portugal was eliminated from the 2026 FIFA World Cup in the Round of 16 after losing 0-1 to Spain. Legendary footballer Cristiano Ronaldo played the full 90 minutes but could not turn the tide. After the match, Ronaldo tearfully bid farewell to fans, concluding his career spanning six World Cup tournaments. This match marked the final chapter of the football icon's World Cup journey.
In a World Cup Round of 16 match, Spain defeated Portugal 1-0 to advance to the quarterfinals. Substitute Mikel Merino scored the decisive goal in the 90+1st minute of injury time. The match featured a generational clash between 41-year-old Cristiano Ronaldo and 18-year-old Lamine Yamal. Spain's solid defensive performance secured their progression to the next round.
In the 2026 World Cup knockout stage, US forward Folarin Balogun received a red card and suspension. US President Trump subsequently called FIFA President Gianni Infantino requesting a review of the decision, resulting in the suspension being temporarily suspended, sparking controversy. Trump confirmed he requested FIFA review the decision but emphasized he only asked for reconsideration without direct pressure.
🌏 International
Evergreen Marine director Zhang Guohua is suspected of purchasing over 90,000 shares of Evergreen Marine before major information disclosure, generating profits exceeding 2.1 billion NT dollars. The Taipei District Prosecutors Office conducted searches and questioned 9 individuals including Zhang Guohua, his brother Zhang Guozheng, and long-time Evergreen executive Ke Liqing as defendants, investigating violations of the Securities Exchange Act.
Taiwan's Food and Drug Administration updated statistics showing the carcinogenic oil scandal from Chung Lien Oil has expanded to affect 360 businesses, including general restaurants. The Ministry of Education's investigation found that 165 schools across four counties have used the contaminated oil. The FDA received notification on June 30 that Chung Lien Oil's soybean salad oil contained excessive levels of benzopyrene, a Class 1 carcinogen, affecting approximately 1,300 metric tons of oil.
South Korean memory chipmaker SK Hynix will debut on the Nasdaq stock exchange on July 10, issuing approximately $29 billion in American Depositary Receipts (ADRs). This offering is set to establish a record for the largest IPO by a foreign company in the United States, marking a significant milestone in the company's international capital market expansion.
Iran's state television reported that the body of deceased Supreme Leader Khamenei arrived in the Shiite holy city of Qom this evening. Funeral and farewell ceremonies are scheduled for tomorrow. The event has drawn significant public attention, reflecting important developments in Iran's political situation.
US President Trump stated he expects to host Chinese President Xi Jinping at the White House around September 24. The visit timing aligns with the UN General Assembly high-level meetings in late September and would mark the second face-to-face meeting between the two leaders since their May summit in Beijing. Trump mentioned the arrangement while discussing plans for a larger White House banquet hall.
Chancellor Friedrich Merz announced a historic military spending plan involving €800 billion in borrowing for defense modernization. This represents Germany's largest debt-financed expenditure since reunification, reflecting significant shifts in European security concerns. The initiative aims to strengthen Germany's military capabilities in response to evolving geopolitical challenges.
Massive crowds gathered in the streets of Tehran for the funeral procession of Iran's late supreme leader, Ayatollah Ali Khamenei. BBC correspondent Lyse Doucet reported from the scene, documenting the large-scale public ceremony organized by the Iranian government to mark the occasion.
Strong Typhoon Bawei was located approximately 2,440 kilometers southeast of Eluanbi at 8 PM yesterday, moving northwest toward Taiwan at 32 kilometers per hour. The Central Weather Administration forecasts issuing a sea warning Thursday morning and a land warning from Thursday night to Friday dawn. Meteorologists predict Bawei will approach Taiwan with intensity between upper-level moderate and lower-level strong typhoon strength, with low landfall probability but over 80% impact risk for northern regions including Taipei, New Taipei, Keelung, Taoyuan, and Yilan.
French President Emmanuel Macron arrived in Syria today, becoming the first EU head of state to visit the country since former President Bashar al-Assad was overthrown in 2024. The visit marks international diplomatic engagement with Syria's new leadership and reflects France's strategic positioning in Middle Eastern affairs.
The US Trade Representative's Office held a three-day public hearing starting on the 7th to discuss imposing additional tariffs of 10% to 12.5% on imported goods from 60 countries and economies under Section 301 of the 1974 Trade Act, targeting products related to forced labor practices.
Taiwan's Taipei District Prosecutors Office is investigating Chang Kuo-hua, a director of Evergreen Marine, for alleged insider trading related to Evergreen Marine's 2023 sale of EVA Airways shares. Chang was ordered to post 120 million New Taiwan Dollars bail and is prohibited from leaving Taiwan by land or sea.
International crude oil prices fell to a five-month low today as Saudi Arabia made a rare downward adjustment to Arab Light crude prices, signaling oversupply in global markets. West Texas Intermediate crude futures on the New York Mercantile Exchange declined 0.2% to $68 per barrel. The move reflects ample global oil supplies and may exert further pressure on energy markets.
China launched a free seven-day, six-night AI short video production program in Beijing and Tianjin targeting Taiwanese youth aged 18-40, particularly first-time visitors to China. Taiwan officials criticized the initiative as a united front tactic aimed at recruiting and training Taiwan influencers, warning young people to be cautious of potential political manipulation.
Taiwan's Food and Drug Administration (FDA) convened four major oil manufacturers—Uni-President, Chung Lien Oil, Taiwan Sugar, and Chang Hui—to discuss improvement measures following the Chung Lien oil contamination incident. FDA Director Chiang Chih-kang mandated that manufacturers conduct batch-by-batch testing of soybean raw materials for benzo(a)pyrene, a Group 1 carcinogen, to strengthen oil product safety oversight.
Zhonglian Oil detected excessive levels of benzopyrene, a carcinogenic substance, in soybean salad oil, with approximately 1,300 tonnes of contaminated products distributed. Taichung District Prosecutors' Office launched a special investigation focusing on three directions: tracing pollution sources and clarifying the company's criminal liability. The company was ordered to cease operations on July 1st, with Taichung Health Bureau not ruling out a third factory inspection.