Daily Recap: Business — 14 July 2026

Markets got a sharp reminder today that the AI boom is creating both winners and strains across the global economy. China posted a stronger-than-expected 27% jump in June exports, driven by heavy demand for semiconductors, electronics and electric vehicles, while IBM moved in the opposite direction, tumbling after warning that customers are diverting spending away from software and toward scarce AI infrastructure like servers and memory. In Europe, the ECB took a longer view, naming 36 payment providers for a 2027 digital euro pilot as policymakers push to build a homegrown payments alternative. In Washington, new Fed Chair Kevin Warsh told Congress the central bank has “no tolerance” for entrenched inflation, reinforcing a hawkish tone for rates. And in one of the day’s most closely watched philanthropy stories, Warren Buffett ended donations to the Gates Foundation, redirecting Berkshire shares to four family charities.

Top Business stories

• Warren Buffett ends annual Berkshire gifts to Gates Foundation amid Epstein-related scrutiny (29 sources)
• China’s June exports rise 27% as AI demand boosts shipments (12 sources)
• IBM shares plunge after profit warning tied to customer shift toward AI infrastructure spending (10 sources)
• WGA sues to block Paramount Skydance’s bid to merge with Warner Bros. Discovery (6 sources)
• ECB selects 36 payment providers for 2027 digital euro pilot (6 sources)
• JPMorgan reports record second-quarter profit as stock trading and investment banking rise (5 sources)
• Oil prices rise on Middle East fighting; Asian stocks fall as AI shares dip (4 sources)
• Tower Semiconductor to invest $3 billion in Japan chip expansion with government grants (4 sources)

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