Tesla CEO Elon Musk said the U.S. automaker had signed a $16.5 billion deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant's loss-making contract manufacturing business.

Seoul

Samsung Electronics experienced a significant rise in its share price after announcing a $16.5 billion contract to supply semiconductors to Tesla. The deal, confirmed by Elon Musk, is expected to support Samsung's contract chip-making division, which has faced recent challenges and competition from rivals such as SK Hynix and TSMC.

A new Samsung facility in the US, possibly the delayed plant in Taylor, Texas, will be dedicated to producing these chips. The agreement comes at a crucial time for Samsung, as it aims to regain ground in the competitive AI chip market. Analysts also suggest the deal could benefit South Korea in ongoing trade negotiations with the US.

Samsung shares jump on news of $16.5 bln Tesla chips deal

Samsung Electronics shares jumped Monday on news of a big deal to make chips for Tesla. Elon Musk says his EV firm has signed a $16.5 billion contract for the supply of semiconductors. That should be a big boost for Samsung's loss-making contract chip-making business. Shares in the firm were up around 6% by early afternoon following the news. Musk said a new Samsung facility in the US would be dedicated to production of the chips. That could refer to a planned plant in Taylor, Texas, which has faced delays amid the South Korean firm's struggles to win and retain big customers. Musk said the plant was conveniently located near his house, and he would personally inspect it to help accelerate progress. It's all very timely for Samsung, which has dropped behind competitors in the race to supply AI chips. Local rival SK Hynix and Taiwan giant TSMC are both seen to have streaked ahead. That has weighed heavily on Samsung's profits and share price. Analysts say the deal could also be helpful for South Korea, as it battles to clinch a trade deal with the US. The country is seeking partnerships on chips and shipbuilding as part of talks to avert a potential 25% tariff.

Thailand and Cambodia have agreed to an immediate ceasefire after days of deadly clashes at the border, Malaysian Prime Minister Anwar Ibrahim said Monday following a meeting with Cambodian Prime Minister Hun Manet and Thai Acting Prime Minister Phumtham Wechayachai.

Kuala Lumpur

Thailand, Cambodia agree to ceasefire after deadly border clashes

Top U.S. and Chinese economic officials will resume talks in Stockholm to try to tackle longstanding economic disputes at the center of a trade war, aiming to extend a truce by three months and keeping high tariffs at bay.

Stockholm

Middle East Conflict

U.S.-China trade truce extension seen, may ease way for Trump-Xi meet

A train derailment in southern Germany killed at least three people and injured others. The cause is under investigation, with weather possibly a factor.

Riedlingen

German train derails, killing at least three people

Israel has agreed to limit fighting in parts of Gaza and would allow more aid into the region, but both moves are facing criticism for being too little too late.

Jerusalem

Israel announces daily pauses in Gaza fighting as aid trickles in

Abnormally high temperatures combined with heat and drought have fuelled destructive wildfires in parts of Europe, forcing thousands to be evacuated.

Athens

Heat fuels destructive wildfires in parts of Europe

Michigan officials say they will file terrorism charges and 11 charges of assault with intent to murder against the man who allegedly carried out a knife attack at a Walmart on Saturday. Lana Zak reports.

Garfield Township

Suspect in Michigan stabbing rampage to face terrorism charges

FAA investigators are in Denver after passengers and crew aboard an American Airlines flight were forced to evacuate when a tire blew during takeoff and the plane's rapid deceleration caused a brake fire, the airline said. Elise Preston reports.

Denver

Passengers evacuate burning plane in Denver

President Trump announced Sunday that the U.S. and European Union have come to a trade agreement after high-stakes meetings in Scotland. Weijia Jiang reports.

Edinburgh

Global Tariffs

Trump announces trade agreement with the European Union

Israel says it will now establish secure routes through the war zone in Gaza so aid convoys won't be shot at or looted. Elizabeth Palmer reports.

Tel Aviv-Yafo

Israel says it will establish secure routes for Gaza aid

U.S. President Donald Trump played golf Saturday at his course on Scotland's coast while protesters around the country took to the streets to decry his visit and accuse United Kingdom leaders of pandering to the American president.

Protesters in Scotland take to the streets to decry Trump's visit

Following four days of border clashes which have left over 30 people dead, the two sides have agreed to Malaysia acting as a mediator in the conflict.

Thailand, Cambodia to meet in Malaysia for ceasefire talks

Protesters gathered in front of the U.S. consulate in Edinburgh to oppose President Trump's visit to Scotland. Mr. Trump plans to host the U.K.'s Prime Minister Keir Starmer and the President of the European Union, Ursula von der Leyen, for trade talks at his personal properties.

Demonstrators protest Trump's visit to Scotland

The Israeli military said Saturday that it will resume aid airdrops into Gaza and open humanitarian corridors for United Nations convoys amid increased international pressure and accounts of starvation-related deaths in the territory.

Israel says airdrops of aid into Gaza will begin

Tens of thousands flee as border fighting between Cambodia and Thailand intensifies — with no ceasefire in sight.

Preah Vihear Province

Cambodia calls for ceasefire with Thailand

Typhoon Co-May has moved away from the Philippines but many low-lying areas are still severely flooded. Three storms dumped a months’ worth of rain in a span of a week on nearly the entire country.

Manila

At least 30 killed in Philippines typhoon

EU Commission President Ursula von der Leyen has said she will meet US President Donald Trump on Sunday in Scotland to "discuss transatlantic trade relations."

Glasgow

Ursula von der Leyen to meet Donald Trump to discuss trade

President Trump signed an executive order Thursday aimed at dramatically changing how the U.S. approaches homelessness.

Washington

Trump signs executive order changing U.S. approach to homelessness

Typhoon Co-May has left a trail of destruction across the Philippines, making landfall in the country's northwestern region. Torrential rains and strong winds have battered towns and cities, damaging homes, roads, and farmland. At least 25 people have been reported dead.

Pangasinan

Philippines hit hard by Typhoon Co-May, dozens killed

Israeli Prime Minister Benjamin Netanyahu and U.S. President Donald Trump appeared on Friday to abandon Gaza ceasefire negotiations with Palestinian militant group Hamas, a day after withdrawing their delegations from talks.

Netanyahu, Trump appear to abandon Gaza ceasefire negotiations

U.S. President Donald Trump is spending five days in Scotland visiting his luxury golf resorts. While the White House touts the economic impact, some locals say the developments have scarred the land and stirred controversy.

Trump visits Scotland to tour golf courses amid protests

The U.S. Department of Justice is set to meet with Ghislaine Maxwell, Jeffrey Epstein's convicted accomplice, amid mounting political pressure on President Donald Trump over his administration's handling of the Epstein case.

Ghislaine Maxwell to meet with U.S. Justice Dept. amid Epstein probe

Thailand and Cambodia exchanged heavy artillery fire for a second day on Friday (July 25) as their worst fighting in over a decade intensified and spread to new areas, despite international calls for a ceasefire.

Bangkok

Thailand, Cambodia exchange heavy artillery

France intends to recognise a Palestinian state in September at the UN General Assembly, President Emmanuel Macron said in hopes of bringing peace to the region, but the plan drew angry rebukes from Israel and the United States.

Macron says France will recognize Palestine as a state

Ukrainian President Volodymyr Zelensky has approved a draft bill to restore the independence of anti-corruption agencies, following nationwide protests and EU concerns over recent reforms that threatened their autonomy.

Ukraine Invasion

Zelensky approves anti-corruption bill after protests

Chinese and European Union leaders have met in Beijing for their first in-person summit since 2023, addressing a range of contentious issues amidst growing trade tensions. The talks, led by Chinese President Xi Jinping and EU officials Ursula von der Leyen and Antonio Costa, highlighted the complex nature of China-EU relations.

Beijing

China-EU summit ends in climate deal, talks strain over Ukraine

The United Kingdom and India have signed a trade agreement that will reduce tariffs on goods from textiles to whisky, cars and spices and allow more market access for businesses. British PM Keir Starmer hailed the agreement as a “landmark moment” for both countries.

London

UK, India sign free trade agreement during Modi visit

President Trump and Federal Reserve Chair Jerome Powell had a disagreement almost immediately as the two men set foot in the Fed's headquarters in Washington to survey an extensive renovation project on two of the reserve's buildings. Nancy Cordes has more.

Trump, Powell clash during tour of Federal Reserve renovations

Hulk Hogan, the legendary professional wrestler whose real name was Terry Bollea, died on Thursday at the age of 71, according to World Wrestling Entertainment.

Clearwater

Wrestling legend Hulk Hogan dead at the age of 71, WWE says

At least 12 were killed as a Thai-Cambodian border dispute escalated into deadly clashes on Thursday (July 24).

Surin

Thailand bombs Cambodian targets as border clash escalates

According to preliminary data, 43 passengers, including five children, and six crew members were on board.

Breakdown