Bloomberg

Microsoft's top sales executive is planning to take a two-month sabbatical as the company plans a wave of layoffs targeting his organization. Read here: https://bloom.bg/4nHz6My 📷: David Paul Morris/Bloomberg

Singapore is doubling down on disease testing as the rest of the world pulls back. Read here: https://bloom.bg/3TiL5SM

Elon Musk once again threatened to ramp up his political spending, this time targeting nearly every sitting Republican in Congress who has signaled support for President Donald Trump’s multi-trillion dollar tax bill. Read more here: https://bloom.bg/46jz1YX

Over the past couple of years, European and American luxury brands have faced falling sales in China—one of their key growth markets for decades—as mainland consumers grapple with an economy devastated by a collapse in real estate prices. In that same period, upstart domestic jewelry brand Laopu Gold has prospered with a growing range of gold rings, necklaces, bracelets and more aimed at the aspirations of a bruised middle class. Read more here: https://bloom.bg/4keHQ9J 📷: Lam Yik/Bloomberg

The Iran-Israel war highlighted a critical flaw in shipping's satellite-based systems that makes the industry hauling 80% of global trade vulnerable to mass-jamming. Read The Big Take: https://bloom.bg/4lw0ISI 📷: Clare Louise Jackson/Shutterstock

Australia creates more unicorns per dollar invested than any other nation but its startups lag far behind the US and China in funding raised. Read more here: http://bloom.bg/46hxEtS

A 30-year old Chinese fund manager is trouncing peers this year with a portfolio stocked with Gen Z-favored names like Pop Mart, betting that new-age shopping trends can help his fund overcome the country’s economic sluggishness. Read more here: https://bloom.bg/4esLZWw

India’s political leadership didn’t permit strikes on Pakistani military bases at the start of hostilities between the two countries in May, allowing Islamabad to shoot down its fighter jets, according to a military official. Read more here: https://bloom.bg/3ZVBdlH 📷: Narinder Nanu/AFP via Getty Images

President Donald Trump said he has identified a buyer for the US operations of the TikTok social media app, but he won’t provide details for two weeks. Read more here: https://bloom.bg/3TOIwYI

The dollar dipped amid an increase of bets on US interest-rate cuts on growing expectations the next Federal Reserve chairman is likely to ease monetary policy earlier than currently anticipated. Read more here: https://bloom.bg/4nqfYma

The story of how one Chinese owner of a toy factory responded to Trump's tariff whiplash illustrates how China remains central to global supply chains. Read more here: https://bloom.bg/4noOayw 📷: Qilai Shen/Bloomberg

NEW: China's $1.3 trillion fund giant once bailed out Morgan Stanley. Now it's being increasingly shut out of the US as the world's two largest economies decouple. Read The Big Take: https://bloom.bg/3TH5Ash

An obesity drug from China helped patients lose a lot of weight in a late-stage clinical trial, making it a prospective new challenger to blockbusters from Novo Nordisk and Eli Lilly. Read more here: https://bloom.bg/4llYYLR

🎙 China’s relationship with Iran, its trade negotiations with the US and America’s strike on Iran have all put China in a difficult position. On today’s Big Take Asia, host Oanh Ha is joined by John Liu, who oversees China coverage from Beijing, to discuss what’s at stake for China in Iran. https://link.podtrac.com/jxfy2rhy

Scientists have discovered 20 previously unknown viruses in bats from China’s Yunnan province, including two closely related to the deadly Nipah and Hendra viruses, raising fresh concerns about the risk of animal pathogens infecting people. Read more here: https://bloom.bg/40mOnIr 📷: DBenitostock/Moment RF

American airstrikes had only a limited impact on Iran’s nuclear program, according to early US intelligence findings, as the United Nations watchdog urged fresh inspection of the sites. Read more here: https://bloom.bg/3T7XSat

Exclusive reporting and analysis by Bloomberg reveal how a weakened Tehran can still inflict pain as it plans its retaliation. Read The Big Take here: https://bloom.bg/4ncW6CH 📷: Morteza/NurPhoto/Getty Images

The US State Department issued a “Worldwide Caution” alert for American citizens, flagging the potential of travel disruptions and demonstrations following the US strikes on Iranian nuclear facilities. Read more here: https://bloom.bg/44dOlnk

Two supertankers both capable of hauling about 2 million barrels of crude U-turned in the Strait of Hormuz after US airstrikes on Iran raised the risk of a response that will ensnare commercial shipping in the region. Read more here: https://bloom.bg/4kT5w4E

🚨 Here's what we know so far: * US jets hit Iran’s three key nuclear sites * Trump warns US to go after other targets if peace doesn’t come * Iran’s state TV says personnel from the sites had been evacuated Follow our live blog: https://bloom.bg/3T2lqxy