🎤 The value of BTS's agency Hybe sank as much as $1.7 billion after members of the K-pop group said they'll focus on individual projects. But fans need not worry: “It’s not like we’re disbanding,” member Suga said. https://bloom.bg/3mM2ToY

🦑 Netflix is bringing “Squid Game” to life with a new reality competition series mimicking the ultra-popular Korean drama. Unlike the fictional show, however, players won’t be shot if they lose. https://bloom.bg/3MRBYTl

🤔 Bill Gates dismissed crypto projects such as NFTs as shams “based on the greater-fool theory.” https://bloom.bg/3OdcOzA

Here's the latest on the war in Ukraine:

⌨️ President Vladimir Putin began sending large numbers of weapons and troops to Belarus before the start of war, planning to benefit from the country’s 650-mile long border with Ukraine. But a group of hackers targeted Beularus’ railway system, disrupting crucial transportation lines for the invading army, causing trains to grind to a halt in several cities.
https://bloom.bg/3MXWYaW

🪖 The Biden administration will announce as soon as Wednesday $650 million in weapons and equipment for Ukraine, including for the first time vehicle-mounted Harpoon anti-ship missiles, says people familiar with the matter.
https://bloom.bg/3OkijML

⛽️ Russia further tightens its grip on European energy markets as it curbs gas shipments, while French President Emmanuel Macron insisted that western capitals keep a channel open to the Kremlin.
https://bloom.bg/3OiHJuw

Here's the latest on the war in Ukraine:

🤝 The leaders of Germany, France, Italy and Romania are in Kyiv for talks with President Volodymyr Zelenskiy in by far the highest-profile visit to the country since Russia invaded at the end of February.
https://bloom.bg/3xxQaep

📍 Germany plans identifying units that can be deployed to Lithuania at short notice and link up with German and allied troops already on the ground, as well as placing key equipment ahead of time. The approach would be an alternative to basing new troops more permanently in the most vulnerable NATO members.
https://bloom.bg/3aYct5v

🪖 President Joe Biden calls Ukraine President Volodymyr Zelenskiy and vows to provide an additional $1 billion in security assistance for the country as it seeks to stave off Russian forces in eastern battle zones.
https://bloom.bg/3OkijML

Hello, here’s what we’re following right now:

💧 As if inflation isn't bad enough, consumers are getting slammed by “drip pricing,” the sneaky extra fees that get tacked on at the last minute. It’s one way companies are getting creative in passing along rising costs to shoppers, writes Alexis Leondis for Bloomberg Opinion. https://bloom.bg/3mRZvci

💰 Elon Musk, SpaceX and Tesla were sued for $258 billion over claims they are part of a racketeering scheme to back the cryptocurrency Dogecoin. https://bloom.bg/3Qrqw3P

💹 And amateur traders in Asia are rushing to buy the Japanese yen as the currency freefalls. https://bloom.bg/39CPi09

Here's the latest on the war in Ukraine:

🇪🇺 The European Commission recommends that Ukraine be granted candidate status in a symbolic step on the long path to become member of the European Union, commission President Ursula von der Leyen says.
https://bloom.bg/3HwHlpP

⛽️ Enel sells its entire stake in its Russian unit, marking a dramatic reversal for the Italian utility which had been betting heavily on Russia before the invasion of Ukraine.
https://bloom.bg/3b18yVr

💾 The Kremlin says Vladimir Putin delayed a highly anticipated speech at the St. Petersburg International Economic Forum over a cyberattack that disrupted the system.
https://bloom.bg/3OpkoYa

₿ 💸 Bitcoin struggled to hold above the closely watched $20,000 level, extending a period of marked volatility that saw huge weekend swings. https://bloom.bg/3HFJCiO

🇭🇰 Hong Kong lawyers are the next target of Xi Jinping's national security law, with veteran attorneys leaving the city. https://bloom.bg/3tN5jYo

✈️ Many airlines struggled to see a future for the world's largest passenger plane during the pandemic. Now, the once-spurned superjumbos are enjoying an unlikely revival as travel roars back. https://bloom.bg/3HFQtbN

Here's the latest on the war in Ukraine:

🗣 EU foreign policy chief Josep Borrell slams Russia’s disruption of Ukrainian grain exports as a “real war crime,” saying it was the war -- not EU sanctions -- that are causing prices to soar.
https://bloom.bg/3OoDihE

🪖 Ukraine plans to tour an exhibition of destroyed Russian military vehicles across Europe, as it strives to maintain public attention on the conflict.
https://bloom.bg/3xHzLUO

🛑 Russia further tightens its grip on Europe’s natural gas supply, rejecting an offer from Ukraine to book more transit capacity with the aim of compensating for reduced flows through a key pipeline to Germany.
https://bloom.bg/3N0dvLC

🇺🇸 President Joe Biden said that a US recession is avoidable after a call with former Treasury Secretary Larry Summers. https://bloom.bg/3n0wbQW

🚙🚫 Teslas will be banned from entering a resort town in China that hosts the Communist Party’s summer retreats, according to a report. https://bloom.bg/39E0cD3

🛳 Hong Kong’s iconic Jumbo Floating Restaurant has capsized in the South China Sea. It was forced to shut down in the wake of the pandemic and was towed away last week. https://bloom.bg/3tODiQb

📉₿ Bitcoin resumed a fall on Wednesday amid concerns about a global recession, but still continues to hold above the key $20,000 level. https://bloom.bg/3tTe57g

🏘️ The world economy is facing yet another threat — the unraveling of a massive housing boom, as central banks globally increase interest rates. https://bloom.bg/3HL99XW

🌈 Hong Kong's LGBTQ rights activists fear the crackdown on social activism is threatening to undo progress for gay rights. https://bloom.bg/3tTnZWj

💸 Elon Musk says Tesla's new factories in Germany and Texas are "gigantic money furnaces" losing billions of dollars. https://bloom.bg/3nb2VqA

🇦🇫 The death toll from a powerful earthquake in Afghanistan topped 1,000 as officials warn the number could rise further. Taliban’s supreme leader, who almost never appears in public, pleaded with the international community for help. https://bloom.bg/3zZojqE

🏡 These are the most liveable places to be in a post-Covid world. https://bloom.bg/3OwnJEL

🇬🇧 UK Prime Minister Boris Johnson suffers a major blow as his Conservative Party lost a key Parliament seat in southwest England, raising fresh questions on his leadership. https://bloom.bg/3bpZcTm

🌍 China's quest for iron threatens one of the most biologically rich ecosystems in Africa, home to the planet's largest untapped iron-ore deposit. https://bloom.bg/3xTHTSb

🇭🇰 Six people who helped shape Hong Kong talk about how the city has changed under China and what the next 25 years hold for the financial hub. https://bloom.bg/3QD6tPU

Hello, here's what we're reading right now:

❌ Russia defaulted on its foreign debt for the first time in a century, the culmination of tough Western sanctions that shut down payment routes to overseas creditors. https://bloom.bg/3OqxcxM

🏛 A CBS News poll suggested that a majority of Americans disapprove of the Supreme Court’s decision overturning the constitutional right to an abortion. https://bloom.bg/3HRLzss

🏙 As Beijing increasingly calls the shots politically in Hong Kong, it’s also dominating key parts of its $344 billion economy. Here’s how that’s playing out everywhere from finance to retail to the city’s skyline. https://bloom.bg/3OF175z

Hello, here’s what we’re following:

🇺🇸 More than 40 people were found dead in a semitrailer parked in San Antonio, Texas, believed to be migrants and likely victims of heat stroke. https://bloom.bg/3nkNyfh

💸 Michael Burry warned that the Fed may reverse course, a tweet that deserves serious attention, writes Jared Dillian for Bloomberg Opinion. https://bloom.bg/3bxEiBM

🇭🇰 Many of Hong Kong's Gen Zs plan to leave sooner or later as they watch their city transform into something new and unfamiliar. https://bloom.bg/3A65bat

📣 A former White House aide testified that Donald Trump reached for the steering wheel and lunged at a Secret Service agent who tried to stop him from traveling to the Capitol to join the Jan. 6 insurrection. https://bloom.bg/3bC0rz6

🇫🇮🇸🇪 Finland and Sweden are closer to joining NATO after Turkey dropped its opposition to their bids. https://bloom.bg/3yoxorD

📱Philippine news site Rappler, run by Nobel Laureate Maria Ressa, could face a possible shutdown as the SEC stood by its decision to revoke its license to operate. https://bloom.bg/3uaW18O

🇨🇳🇭🇰 Chinese President Xi Jinping is expected to arrive in Hong Kong today with his wife for the city’s 25th handover ceremony, his first trip outside the mainland in almost 900 days. https://bloom.bg/3ONDmru

💸 Didi stock investors lost over $60 billion in the China tech crackdown. Here's how it unfolded. https://bloom.bg/3OvOp8U

🍻 A beer made from recycled toilet water is winning admirers in Singapore. You may need to be quick if you want to taste it, with the first batch on tap already sold out. https://bloom.bg/3I0zMbg

Here's the latest on the war in Ukraine:

🇺🇸 The U.S. plans to announce another $800 million in defense assistance for Ukraine, President Joe Biden says at the NATO summit in Madrid.
https://bloom.bg/3QYFYER

🪖 Russia confirms troop withdrawal from a strategically important island in the Black Sea, after Ukraine said they were forced to leave by its missile and artillery strikes.
https://bloom.bg/3QYFYER

🤝 NATO agrees to the biggest upgrade of its military presence in Europe since the end of the Cold War, redrawing the continent’s security in response to Russia’s invasion of Ukraine.
https://bloom.bg/3AdjMAX

Hello 👋 Friday marks the 25th anniversary of Hong Kong’s handover from Britain to China. Here’s what you need to know:

💬 Chinese President Xi Jinping is set to swear in Hong Kong’s new leader, John Lee, in an event surrounded by a surge of propaganda. In a speech Thursday, Xi declared that the Asian financial hub had been “reborn” in the wake of a crackdown on the pro-democracy opposition. https://bloom.bg/3I5J7i6

👀 Follow along for the latest news and analysis in our live blog: https://bloom.bg/3R4uVtF

💰 Hong Kong’s billionaire factory is broken. Before the handover, two of the city's tycoons were among the world's top 10 richest; now no one from there makes the list. https://bloom.bg/3I4EVPs

Here's the latest on the war in Ukraine:

🇪🇺 The European Union will propose 1 billion euros in short-term financial relief for Kyiv’s urgent cash needs.
https://bloom.bg/3I7qnie

💵 Ukrainian officials are exploring the possibility of debt restructuring as the war-ravaged country’s funding options are at risk of running out, according to three people familiar with the discussions.
https://bloom.bg/3AjGpUu

📉 Japan’s Government Pension Investment Fund says that it’s been selling Russian assets since March following the invasion of Ukraine, marking down some values to almost zero in the process.
https://bloom.bg/3Ar4eJI

Hello, here's what we're following right now:

🛢 Global oil prices could reach a “stratospheric” $380 a barrel if sanctions prompt Russia to inflict retaliatory crude-output cuts, JPMorgan analysts warned. Separately, Jeff Bezos criticized a tweet from Joe Biden calling for oil executives to reduce gasoline prices. https://bloom.bg/3NOgBTy

📉 What might the next US recession look like? It may be moderate, but could also be quite long and painful. https://bloom.bg/3yCi5fa

😡 And here’s how Europe became the epicenter for this summer’s travel chaos: https://bloom.bg/3P2egp2

☎ China's Vice Premier Liu He and US Treasury Secretary Janet Yellen discussed sanctions and tariffs in a phone call following reports President Joe Biden may roll back some levies. https://bloom.bg/3Aqz3yg

⚖ Canadian officials were unable to attend the trial of a Chinese-Canadian tycoon who was seized at a luxury hotel in Hong Kong more than five years ago. https://bloom.bg/3IePVdk

🛢 The shippers still willing to transport Russian crude are reaping big rewards — as much as triple the amount prior to Putin's invasion of Ukraine. https://bloom.bg/3yGbbp2