Sources say the Trump administration will provide $17.5 billion to finance Westinghouse Electric equipment orders for large nuclear reactors. The funds will be allocated to seven unnamed utilities that have signed DOE loan intent letters. The administration views large reactors as critical power for data centers and economic growth and issued an executive order last year aiming for 10 large conventional reactors under construction in the US by 2030. Large conventional reactor builds have largely

UK preliminary June services PMI fell to 48.7 from 49.3, the weakest reading since January 2023 and below all economists in the REUTERS SURVEY, which had forecast a rise to 50.1. The survey showed sharp declines in employment and new business, with the new business index at its lowest since January 2021. The release came a day after Prime Minister Starmer announced his resignation, underscoring the difficult economic backdrop for incoming PM Andy Burnham, assuming no other Labour MPs challenge his bid for the premiership.

China has officially begun construction of a national AI application pilot base for industrial software in Jinan, Shandong. The facility will provide unified simulation workshops, a shared compute pool and industrial datasets to test AI software under real operating conditions. The base will focus on three categories—R&D design, production control and business management—has cataloged more than 100 industrial application scenarios and signed cooperation agreements with over 20 companies. Its stated goal is to bridge industrial AI from laboratory proof-of-concept to factory deployment.