Bank of England rate-setter Catherine Mann said she is prepared to make an “activist” interest-rate hike if inflation expectations and other warning signs on prices do not improve later this year, according to Bloomberg.

Cisco has announced the launch of Cisco Nexus One, an open data center network architecture designed for AI workloads and new security threats, aimed at upgrading its long-evolving Application Centric Infrastructure (ACI) system. According to Odaily, Cisco said Nexus One will connect to its unified platform, Cisco Cloud Control, to improve architectural flexibility, openness, and scalability while maintaining backward compatibility with existing systems. Cisco added that Nexus One is not a single product but an architecture-level evolution similar to ACI. The company said the focus is shifting from early-stage innovation to standardization and interoperability across ecosystems to meet complex networking needs in the AI and machine learning era.

The Philadelphia Semiconductor Index extended its decline to 4%. According to Jin10, the index’s drop widened to 4%.

Shares of IQM fell in their first day of trading after the Finnish quantum computer maker went public in New York through a merger with a special purpose acquisition company, according to Bloomberg.

Kuaishou said it signed a capital increase agreement involving Beijing Keling and multiple investors, under which investors agreed to make cash capital injections totaling RMB 13,823.60 million (or $2,028.20 million), subject to conditions being met or waived. According to Jin10, Kuaishou said the agreement was signed after trading hours on July 2, 2026, by (i) Beijing Keling, an indirectly wholly owned subsidiary of the company that is expected to hold Kuaishou Group’s Keling AI-related assets and business after the restructuring is completed; (ii) 21 independent investors, Party A and Party B; (iii) Beijing Keling Group Company; (iv) LuckyLabs; and (v) Beijing Kuailingrui. Kuaishou said that, with Beijing Keling’s consent, additional investors may become parties to the agreement by signing a joinder agreement within 60 days from the signing date. It said the total amount of capital increase under the agreement must not exceed RMB 20,447.10 million. Kuaishou said that on the same day as the capital increase agreement, 15 additional investors each signed joinder agreements with Beijing Keling, becoming parties to the agreement and agreeing to inject a combined RMB 5,223.50 million in cash capital, subject to conditions being met or waived. Kuaishou said Beijing Keling may, within the subscription period and within the subscription cap, enter into further joinder agreements with new additional investors.

The US corporate bond market is appearing safer as more highly rated technology companies issue debt tied to the AI boom, according to Bloomberg. Some investors are warning that the improved credit profile could be misleading and may be masking underlying risks.

Market sources said Denmark’s central bank carried out foreign-exchange intervention last month. According to Jin10, the central bank bought 700 million Danish kroner through the intervention.

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