XRP network activity surged, with the number of active addresses rising 654.71% from 47,180 to 356,070. Such a sharp jump typically points to a rapid increase in network participation. Historically, spikes of this magnitude have often been accompanied by heightened price volatility.

US Treasury Secretary Scott Bessent said Washington is expanding secondary sanctions that could pressure entities and countries that continue doing business with Iran. Markets largely shrugged off the announcement, and oil prices fell more than $2 a barrel. Brent settled at $US92.17 a barrel and US West Texas Intermediate ended at $US85.01.

Billionaire heirs to Brown-Forman, the company behind Jack Daniel’s, have erupted into a public family dispute as an unsolicited $15 billion cash offer from rival Sazerac looms. Brothers W.L. Lyons Brown III and Stuart Brown accused the board of “rewarding failure,” saying the stock slid from the mid-$70s per share to the mid-$20s per share over the past three years, wiping out billions in family wealth. The company also cut 12% of its workforce last year and shut its Louisville cooperage. The Wall Street Journal reported the brothers circulated their claims in a July 10 letter to more than 130 relatives.

Broadcom shares fell as bond investors priced in higher risk. The yield on its 5.15% bonds due in 2031 has risen about 14 basis points so far in August, while its five-year credit default swap spread widened 28 basis points, reflecting concerns about its ability to repay debt. The move comes as the company discusses an AI financing package worth more than $60 billion after it previously supported most of a $35 billion debt package.

Taiwanese prosecutors have indicted nine people over the illegal export of high-end AI servers to mainland China, including staff from Nvidia and Super Micro. Prosecutors said the servers carried B300 graphics processing units that are banned from sale to China, with some shipments routed via Indonesia, Japan and Hong Kong. The case comes as U.S.-China controls on AI chip exports continue to tighten, underscoring compliance risks for companies operating in the supply chain.

Canadian Natural Resources (CNQ) reported record second-quarter production of 1.7 million barrels of oil equivalent per day, up about 18% from a year earlier. Adjusted net income from operations rose to $4.6 billion, or $2.20 per share, more than doubling year over year, while adjusted funds flow jumped 110% to $6.9 billion. The company has grown its dividend at an annualized rate of about 20% over the past 26 years and currently offers a 3.5% forward dividend yield. After deploying $4.4 billion of capital in the first half, CNQ raised its full-year capital spending guidance to $7.6 billion.

A shortage of clean electricity in Canada could put up to $220 billion in potential capital investment at risk, as demand from mines, factories and data centres rises. Against that backdrop, Capital Power reported second-quarter adjusted funds from operations of $328 million and raised its quarterly dividend by 2%, extending its streak of annual increases to 13 years. The company has also secured Meta as a long-term customer, underscoring the value of contracted clean and dispatchable power when supply is tight.

Nvidia plans to raise prices by more than 15% on several AI servers to offset higher costs for components such as memory. The company reported $81.6 billion in revenue last quarter, up 85% year over year, including $75.2 billion from its Data Center business, which rose 92%. Non-GAAP gross margin was 75%, and Nvidia guided fiscal second-quarter revenue to roughly $91 billion while maintaining a 75% non-GAAP gross margin.