Hormuz Talks, A Trade War of Words, Ceuta's Aftermath

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

On today's podcast:

(1) Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz, according to a joint statement carried by the Oman News Agency, as the two sides press ahead with long-running talks over navigation through the key waterway.

(2) The Trump administration is discussing additional trade penalties against Canada after Prime Minister Mark Carney unveiled dollar-for-dollar retaliation to new tariffs imposed by the US on Saturday.

(3) Treasury Secretary Scott Bessent’s surprise plan to tamp down US borrowing costs by expanding bond buybacks may have sparked fierce debate about its ultimate effectiveness, but key market metrics and positioning show that it’s having an impact.

(4) Nvidia will deliver its quarterly earnings report on Wednesday, updating investors on the state of the AI industry’s massive data center expansion — and the company’s efforts to remain at the center of that frenzy.

(5) Meta and state attorneys general have discussed a possible mid-trial settlement of a blockbuster case accusing the company of deliberately designing Facebook and Instagram to addict teens, people familiar with the matter said.

(6) The images of thousands of people swimming into the Spanish territory of Ceuta from Morocco at the end of July were seen around the world. As politicians trade barbs in cities far away, Ceuta is still grappling with the real-life consequences of that day.

Podcast Conversation: Dolly Parton, the effervescent and glamorous “Queen of Country” who emerged from extreme poverty in rural Tennessee to become one of America’s most distinguished songwriters and wealthiest self-made women, has died. She was 80.

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