Good Afternoon. In today’s to-do section, there’s a game where you can spend Bill Gates’ money on things from a big mac to the Mona Lisa, all the way to an NBA team and see how much is left over. Now all you have to do to earn that kind of money IRL is invent the next Microsoft. Easy right?

—Rosie, Wyatt, Evan & Conor

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Presented By CompareAccounts™

The News: Banks are rolling out record-high bonuses—often $300 or more—to lure new checking account customers this summer. Whether you’re eyeing a big name or a digital upstart, several banks are sweetening the deal for anyone willing to switch. Most offers just require setting up direct deposit or meeting a few simple requirements.

Why It Matters: With inflation squeezing wallets and rates all over the map, a $300+ checking bonus might be the easiest “side hustle” around—no gig work required. But not all offers are created equal: terms and perks vary, and some bonuses won’t last long. If you’re ready to cash in, compare the top checking account bonuses available now.
Source: compareaccounts.com

1. EU and U.S. Strike Tariff Deal, Avoiding Trade War

The News: The U.S. and European Union have reached a preliminary agreement that averts a major trade war, setting most tariffs at 15% for European goods but granting exemptions for key products like aircraft, chemicals, and some agricultural items. In exchange, the EU will buy $750 billion in American energy and invest $600 billion in the U.S. over three years. While the pact is seen as “the least bad outcome” by European leaders, some sectors like automakers and wine face significant new costs.

Why It Matters: The deal offers relief by preventing an all-out trade conflict, providing stability for businesses on both sides of the Atlantic. However, it also cements higher tariffs as the new normal likely trimming EU economic growth and hitting industries dependent on U.S. exports. Analysts say the pact gives companies more certainty to plan but leaves the EU in a weaker position, setting 15% as the new baseline for major U.S. trading partners going forward.
Source: wsj.com

2. Browsers Get Smarter: Chrome and Edge Add AI Tools

The News: Google and Microsoft both rolled out major AI-powered features for their browsers this week, marking a new phase in the battle for your desktop. Google Chrome’s new “Store Reviews” tool uses AI to instantly summarize online shop reviews from trusted sites like Trustpilot and Google Shopping, helping users spot sketchy retailers and make faster, safer shopping decisions, all from a popup in the address bar.

Meanwhile, Microsoft Edge launched “Copilot Mode,” an AI-powered assistant that can analyze and summarize content across multiple tabs, respond to voice commands, and even automate real-world tasks like booking hotels and making dinner reservations. The Copilot can be toggled on or off and offers users a single search/chat box for a more streamlined, AI-first browsing experience.

Why It Matters: Chrome’s Store Reviews aims to protect shoppers from fraud and save time, while Edge’s Copilot is a productivity booster that can actually get things done for you online. Both moves show tech giants are betting that built-in AI assistants will become essential for safer, smarter browsing. As Chrome and Edge roll out these tools, expect more automation and convenience but also new debates around AI accuracy and privacy.
Source: techcrunch.com

3. PayPal Launches Crypto Checkout With Near-Instant Settlement

The News: PayPal has rolled out a new crypto payment service allowing customers to connect wallets like Coinbase and MetaMask directly at checkout. Shoppers can pay with major cryptocurrencies, which are instantly converted to U.S. dollars or PayPal’s PYUSD stablecoin for merchants—offering “near-instant settlement” and removing price volatility risk. Merchants pay a promotional 0.99% fee (rising to 1.5% next year), still below average U.S. credit card rates. Merchants can also earn 4% rewards on PYUSD balances.

Why It Matters: Look for Coinbase / Paypal stock moves and Visa / Mastercard to start feeling the pressure. This move positions PayPal at the forefront of global digital payments, giving merchants access to a $3 trillion crypto market and over 650 million crypto users. The integration aims to reduce cross-border payment costs and friction, unify global wallets, and speed settlement times for international sales. It could make PayPal a key bridge between crypto and mainstream commerce, but adoption will depend on regulation (it’s not yet approved for New York) and how merchants and shoppers respond to the new model.
Source: fortune.com

4. Citi Launches Strata Elite Card, Taking Aim at AmEx and Chase

The News: Citigroup has launched the new Strata Elite Card, a $595-per-year premium credit card designed to challenge high-end competitors like AmEx Platinum and Chase Sapphire Reserve. The card features hefty travel and lifestyle credits, up to $1,500 value, including a $300 hotel credit, $200 “splurge” credit, $200 Blacklane chauffeur credit, airport lounge access, and Priority Pass Select membership. Cardholders also earn up to 12x points on hotels and travel booked through Citi, and Citi just added American Airlines as a 1:1 transfer partner.

Why It Matters: The Strata Elite undercuts rivals on annual fees while ramping up premium perks and points, giving affluent travelers a fresh alternative as competition in the luxury card market intensifies. With Chase and AmEx both hiking fees and tweaking rewards, Citi’s new card could shake up wallet share, especially for users seeking maximum value from travel bookings and transfer partners. For Citi, it marks a strategic comeback after years on the sidelines and reasserts its presence in the battle for wealthy, rewards-driven customers. Get ready for reddit posts hailing this as the “AMEX Platinum Killer.” “Doubt it” says the guy who only flies Delta.
Source: apnews.com

5. Wall Street Bull Sees 11% More Upside for S&P 500 as Trade Fears Fade

The News: Oppenheimer’s John Stoltzfus raised his 2025 S&P 500 year-end target to a Street-high 7,100, citing progress on US trade deals, including the new EU tariff framework, as a key reason for his bullish call. Stoltzfus now sees an 11% rally ahead, projecting resilient corporate profits and strong earnings growth as tariff “hurdles” subside. Other strategists, like Citi’s Stuart Kaiser and Morgan Stanley’s Mike Wilson, are also turning more optimistic, pointing to better-than-expected Q2 results and a rebound in companies raising earnings guidance.

Why It Matters: This upbeat attitude could change this week as major companies are set to report earnings like Apple, Meta, Microsoft & Amazon. Wall Street’s strategists are betting that receding trade uncertainty and improving profit outlooks will keep the market’s winning streak alive. While some warn that valuations are stretched, strong earnings and fewer policy surprises could fuel another record year for stocks. With nearly half of S&P 500 companies raising forecasts, investor sentiment may stay bullish, unless new shocks emerge.
Source: finance.yahoo.com

1. Russia Halts Gasoline Exports to Stabilize Domestic Supply

The News: Russia has imposed a temporary ban on gasoline exports until August 31, 2025, requiring all oil producers to keep fuel at home to stabilize the domestic market during peak summer demand and secure supplies for agriculture. The ban, broader than previous measures, excludes exports only to the Eurasian Economic Union (EAEU) and a few partners. This follows recent supply disruptions from drone attacks, Western sanctions, and rising wholesale prices at home.

Why It Matters: The move tightens global gasoline supplies at a time of high demand, threatening to push up prices, especially in Europe, which imports Russian fuel. The ban highlights the continued fallout from sanctions and war-related disruptions, and may signal further volatility in global energy markets if Russia extends or repeats such measures. For Russian consumers, it’s an effort to avoid shortages and price spikes, but for global buyers, it’s one more uncertainty in an already turbulent energy market.
Source: bloomberg.com

2. India Resets Ties with Maldives, Offers $565M Credit Line

The News: Prime Minister Modi visited the Maldives as guest of honor for its 60th Independence Day, marking a diplomatic reset after months of frosty relations. Modi announced a $565 million credit line, India’s first rupee-denominated facility for the Maldives, aimed at supporting infrastructure across defense, healthcare, education, and housing. The two countries also launched free trade talks, agreed to lower Maldives’ annual debt repayments to India, and signed deals to expand digital payments and currency settlement.

Why It Matters: This visit signals a major strategic shift for both nations. After an “India Out” campaign and closer China ties under President Muizzu, the Maldives is now re-embracing India as its “closest and most trusted partner” amid severe debt pressures. The credit line and trade talks deepen economic ties, while India’s involvement counters China’s growing influence in the Indian Ocean. Get ready for a fresh wave of influencer Maldive campaigns.
Source: hindustanstimes.com

3. US-China Talks Resume as Hopes Rise for Trade Truce Extension

The News: The US and China have restarted trade negotiations in Sweden, with officials on both sides signaling optimism for a 90-day extension of their current tariff truce, which is set to expire August 12. The talks follow a flurry of recent trade deals between the US and other major partners, including the EU and Japan. US officials have also paused some technology export restrictions to keep discussions on track. While both sides still face steep tariffs on hundreds of billions in goods, sources say a renewed truce is likely, aiming to prevent another round of tariff hikes and broader trade disruption.

Why It Matters: With the world’s two largest economies still locked in a high-stakes trade standoff, even a temporary extension of the truce would help stabilize global markets and avoid a new round of tariff escalation. The talks signal a cautious thaw, but don’t expect a major breakthrough yet, core issues like technology exports remain unresolved. Still, keeping trade tensions in check is critical for businesses and supply chains worldwide, especially after months of shifting tariffs between the US, EU, and key Asian partners.
Source: bbc.com

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The ability to make quick, insightful, and sound judgments, especially in practical matters; sharpness of mind.

“Her business acumen helped the startup grow rapidly despite tough competition.”