Trump’s Primetime Claims, Chip Selloff Deepens, Burnham To Greenlight Drilling

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) President Donald Trump devoted a prime-time address to reviving unsubstantiated claims that the 2020 election was stolen and raising doubts about the security of the upcoming midterms, turning his attention to a years-long grievance at a perilous moment for his presidency.

(2) Trump's renewed focus on America's biggest geopolitical rival comes as divisions continue to deepen within his own Republican base over the US-Israel war with Iran.

(3) The US launched fresh strikes against Iran as hostilities across the Middle East continued to escalate and shipping traffic slumped in the critical Strait of Hormuz.

(4) Japanese memory chipmaker Kioxia Holdings Corp.’s market capitalization halved in just a month since becoming the nation’s most valuable company, on growing concerns the AI-driven rally in the sector has gone too far.

(5) Within days of taking office incoming Prime Minister Andy Burnham is preparing to announce new drilling for oil and gas in the North Sea as well as taking public control of Thames Water. Burnham approaches the gates of Downing Street along a path littered with short-tenured former leaders whose support quickly evaporated on contact with the realities of reviving the UK economy.

(6) Netflix forecast a second consecutive quarter of slowing sales growth, contributing to investor anxiety about the streaming giant’s future. The company projected revenue of $12.9 billion in the current quarter and earnings of 82 cents a share, both a little shy of analysts’ expectations.

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