UBS will begin testing everyday banking services for American employees in the coming months, marking a strategic push to capture wealthy US clients. The Swiss bank's move reflects growing competition in American private banking, where market share battles have intensified since Credit Suisse's collapse.

Meanwhile, Open AI has reportedly discussed offering the Trump administration a 5% stake, signaling potential government involvement in artificial intelligence development. This follows broader trends of tech companies navigating closer ties with Washington regulators.

Global dealmaking surged to $2.8tn in the first half of 2026, setting a record pace driven by mega-takeovers across sectors. The surge indicates sustained corporate confidence despite geopolitical tensions and economic uncertainty worldwide.

On the geopolitical front, Putin acknowledged Ukrainian drones are causing significant operational problems, as war fatigue spreads among Russian populations. The admission suggests battlefield challenges for Moscow as the conflict extends into Russian territory.