Meta has introduced its first AI coding agent, Muse Code, as the company expands its push into developer tools and intensifies competition with OpenAI and Anthropic.

The preview release marks the latest product from Meta Superintelligence Labs, led by Alexandr Wang, who joined the company to accelerate its AI strategy. Muse Code is designed to automate software engineering tasks, from planning and writing code to testing and validating results.

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“You can install it with one command and then use it to take on complete software engineering tasks across a wide variety of use cases,” Wang said.

A New Revenue Opportunity

The launch comes as Meta looks to generate new revenue from AI while continuing to invest heavily in data centres and computing infrastructure. The company recently increased spending on AI, even as weaker guidance and lower free cash flow weighed on investor sentiment.

Muse Code joins a growing market for AI programming assistants that includes Anthropic’s Claude and OpenAI’s Codex. Like its rivals, the tool allows developers to build applications within a single interface while using AI agents to support different stages of software development.

The coding assistant runs on Meta’s latest Muse Spark 1.2 model, which was developed alongside Muse Code to improve programming performance. Although Wang did not disclose adoption figures, he said demand for the Muse Spark family has been “strong.”

Competing On Price

Rather than focusing solely on performance, Meta is positioning Muse Code as a lower-cost alternative to competing AI coding tools.

Developers can access the service through a pay-as-you-go model, alongside a lower-priced contributor tier for users who agree to share data that helps improve the underlying models. Meta is also introducing a zero-data-retention option for enterprise customers, allowing developers to use the platform without their data being stored for model training.

Muse Code will be available through Meta’s developer platform and via OpenRouter, which hosts AI models from multiple providers.

The launch highlights Meta’s broader strategy of expanding beyond consumer AI products into enterprise software, where demand for coding assistants is growing rapidly and competition among major AI companies continues to intensify.

Google is enjoying strong momentum in artificial intelligence, but the company’s growing commercial success is being accompanied by a noticeable loss of senior research talent.

The contrast has become increasingly visible. Alphabet recently reported robust growth in its AI business, driven by rising demand for Google Cloud and Gemini, while several high-profile researchers have chosen to leave the company. Among them is longtime Google scientist Jeff Dean, who is stepping down after nearly three decades to launch AI startup Discovery Loop.

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Growth Brings New Priorities

The departures reflect a broader shift inside Google as artificial intelligence becomes a core business rather than a purely research-driven effort.

Chief Executive Sundar Pichai recently said that 90% of Fortune 100 companies now use Gemini Enterprise, highlighting the company’s growing presence in the enterprise AI market. At the same time, analysts note that customers increasingly value reliable AI infrastructure and practical business applications over access to the most advanced frontier models.

That shift has strengthened Google’s cloud business, but it has also changed how resources are allocated across the company.

Competition Extends Beyond Models

Reports suggest that some researchers have become frustrated by limited access to computing resources and the growing complexity of Google’s AI organisation. As demand for infrastructure rises across DeepMind, Google Cloud and consumer products, competition for computing power has intensified.

Those pressures have made rival AI companies, including OpenAI and Anthropic, increasingly attractive destinations for researchers focused on cutting-edge model development.

Google, meanwhile, continues to invest heavily in data centres and AI chips, while maintaining that frontier research remains central to its long-term strategy.

The Next Test For Google

For investors, Google’s AI strategy now offers several engines of growth, from cloud infrastructure to enterprise software and consumer products.

The bigger question is whether the company can continue attracting and retaining the researchers behind its biggest breakthroughs while balancing the commercial demands of a rapidly expanding AI business. As artificial intelligence moves from the lab to the mainstream, managing that balance may prove just as important as building the next generation of models.

Cyprus is rolling out a €31 million reform to modernise its Social Welfare Services, with a focus on strengthening child protection, supporting vulnerable groups and improving the quality and speed of public services.

Speaking on Wednesday, Social Welfare Services Director Maria Kyratzi described the initiative as the first comprehensive overhaul of the country’s welfare system.

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“This reform is designed to improve the functioning of the Social Welfare Services while substantially upgrading Cyprus’ social protection system, with social cohesion, equal opportunities and a decent quality of life for all citizens at its core,” she said.

The project is being implemented under the THALIA 2021-2027 Cohesion Policy Programme and is co-financed by the European Union.

Stronger Child Protection And Local Support

The reform will modernise the organisation’s structures, procedures and intervention mechanisms to create a more efficient and people-centred welfare system.

Social Welfare Services currently manage more than 40 programmes and employ over 500 professionals. According to the Deputy Ministry of Social Welfare, rising demand and increasingly complex cases, particularly those involving children under state guardianship, have made the overhaul necessary.

A key measure is the creation of multidisciplinary teams at central and district level to improve the management of complex cases and strengthen cooperation between public agencies. The reform will also introduce escort and mentoring services, together with additional specialist support for vulnerable children.

Since May 2026, the Deputy Ministry has been working with the ministries of education, justice and health on a national child protection strategy and action plan, due to be completed by the end of 2029.

Digital Upgrade

Following a successful pilot phase, the Neighbourhood Social Worker programme will be expanded nationwide in cooperation with municipalities and community clusters, bringing services closer to local communities and strengthening early intervention.

The reform also includes the introduction of a new digital information system to improve efficiency and modernise the delivery of social welfare services.

Industrial producer prices in Cyprus increased by 0.3% in June, according to Eurostat, extending the upward trend after a sharp 3.2% rise in May. Prices had also increased by 0.3% in April following a 0.6% decline in March.

The broader European picture was more subdued. Producer prices fell by 0.3% across the euro area and by 0.2% in the European Union compared with May, reversing the monthly gains recorded in both regions a month earlier.

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Energy Prices Weigh On Monthly Performance

The decline across the euro area was largely driven by energy prices, which dropped 1.5% month on month, while EU energy prices fell by 1.4%.

Excluding energy, industrial producer prices rose by 0.2% in both the euro area and the EU. Intermediate goods posted a 0.3% increase, while capital goods and durable consumer goods also recorded modest gains. Prices for non-durable consumer goods were broadly unchanged in the euro area and edged down by 0.1% across the EU.

Annual Growth Remains Strong

Compared with June 2025, industrial producer prices rose by 4.6% in the euro area and 4.7% across the EU.

Energy remained the main driver, with annual increases of 8.8% in the euro area and 10% across the EU. Intermediate goods also recorded strong gains, rising 6.1% and 5.7%, respectively, while prices excluding energy increased by 3% in the euro area and 2.9% across the bloc.

Bulgaria Records The Largest Increase

Among EU member states, Slovakia recorded the strongest monthly increase in producer prices at 1.1%, followed by Romania at 1.0% and Estonia at 0.9%. The steepest monthly declines were reported in Lithuania (-1.7%), Ireland (-1.5%), and Bulgaria and Greece (both -1.3%).

On an annual basis, Bulgaria posted the largest increase at 18.2%, ahead of Romania (14.3%) and Ireland (11.4%). Luxembourg was the only member state to record an annual decline, with producer prices falling by 3.2%.

Disney is partnering with TikTok to bring fan-created videos directly into the Disney+ app, as streaming platforms increasingly compete with social media for audience attention.

The initiative will launch as a pilot programme in the United States over the coming months before expanding to additional markets.

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Under the agreement, TikTok videos featuring Disney, Pixar, Marvel, Star Wars and other franchises will appear in “Verts,” Disney+’s short-form video feed introduced earlier this year. The partnership expands the platform’s library of short-form content while giving fan creators greater visibility within Disney’s streaming ecosystem.

Creators Become Part Of Disney’s Strategy

The collaboration also marks the launch of the Disney Creator Ambassador Program, which will give selected TikTok creators access to Disney’s content library, exclusive events, rewards and career opportunities.

The move reflects Disney’s growing focus on the creator economy after earlier plans to expand short-form content through a three-year licensing agreement with OpenAI. That initiative, which included a reported $1 billion investment tied to Sora, was abandoned after OpenAI shut down the video-generation platform in March.

Other streaming services, including Tubi and Peacock, have also partnered with TikTok creators to develop original content, highlighting a broader shift toward integrating social media talent into streaming platforms.

Strong Streaming Results

The announcement coincides with Disney’s third-quarter earnings. The company reported that operating income from its subscription video-on-demand business more than doubled to $712 million, up from $329 million a year earlier.

Disney also announced a restructuring of its operations, moving its consumer products business from the Experiences division to Studios.

French infrastructure investment firm Meridiam has acquired a majority stake in the Great Sea Interconnector, taking over control of the project from Greece’s Independent Power Transmission Operator (Admie).

The deal places Meridiam, which manages infrastructure assets worth around €19.9 billion, at the helm of the project linking the electricity grids of Cyprus, Greece and Israel. Former Cypriot Energy Minister George Papanastasiou welcomed the move, saying the involvement of a financially strong investor could improve the project’s prospects and support efforts by Cyprus and Greece to secure financing from the European Investment Bank.

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“It is very good news. This is a fund which is viable joining a project which was looking for financiers,” Papanastasiou said.

Fresh Momentum For A Delayed Project

Admie took over the project in October 2023 after replacing Cyprus-based EuroAsia Interconnector Ltd. Progress has been slower than expected, although Nexans completed an underwater cable trial earlier this year.

The European Commission has backed the interconnector as a strategic project that would end Cyprus’ energy isolation, strengthen grid stability and help lower electricity prices. Brussels has already allocated €658 million in grant funding.

Funding Challenges Persist

Despite that support, the project has faced financial and political setbacks. Cyprus withheld previously agreed annual €25 million payments to Admie, citing limited progress and disagreements over the financing model.

The European Public Prosecutor’s Office is also investigating the allocation of EU grants following allegations that a politically exposed person influenced the funding process. Greek Foreign Minister Giorgos Gerapetritis has denied any wrongdoing.

Meridiam’s entry as the controlling shareholder is expected to strengthen investor confidence as the project seeks additional financing and moves toward implementation.

The University of Cyprus is creating three temporary parking areas on its campus, adding 890 spaces in an effort to address a longstanding parking shortage affecting students’ daily routines.

New Parking Areas To Ease Campus Congestion

Parking has been one of the university’s main day-to-day challenges for years, with students often arriving well in advance to secure a space. Poorly organised parking areas have also contributed to traffic congestion during peak hours and, in some cases, damage to vehicles.

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According to Philenews, the project will cover three locations across the campus. One parking area will be created between the Library and the Senate building, another between Teaching Space 2 (ΧΩΔ 2) and the Sports Centre, while the third will be located east of the Sports Centre entrance, near the sports facilities. The latter has not previously been accessible to students and will now be adapted for parking.

Work To Be Completed By September

The €250,000 project, funded through the university’s budget, will include compacted gravel surfacing to create smoother and more functional parking areas, as well as drainage works designed to reduce mud, dust and uneven ground.

Two of the three parking areas are expected to be completed before the start of the new academic year, with the remaining site scheduled for completion by the end of September.

Although the spaces are intended as a temporary solution, they are expected to remain in use for at least two years, as any future redevelopment of the sites would require a planning process of similar length.

Permanent Parking Plans Also Underway

In the longer term, the university may repurpose the sites for new buildings or green and recreational spaces. It said future construction work is not expected to significantly affect student parking, as projects will not be carried out simultaneously across all three locations.

The university is also moving forward with plans to create 110 permanent parking spaces, with a tender expected to be issued in September. In addition, the existing 140 parking spaces are set to be reinforced, covered and equipped with solar panels.

Robinhood is preparing to launch a publicly traded fund that will allow retail investors to gain exposure to startups backed by Y Combinator, one of Silicon Valley’s best-known startup accelerators.

Fund Targets Y Combinator Companies

Robinhood Venture Fund II (RVII) is expected to begin trading on August 13 at an opening price of $25 per share. According to Reuters, the fund aims to raise up to $200 million, which will be used to acquire shares in startups founded by current and former Y Combinator participants, provided those companies agree to sell their equity.

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Although anyone will be able to buy shares in the fund, investors will not own stakes in the startups directly. Instead, they will hold shares in the fund itself, which can be traded publicly, while returns will depend on the fund’s overall performance.

Fee Structure Mirrors Venture Capital

RVII will follow the traditional venture capital fee model, paying a management fee and carried interest to another Robinhood-owned entity.

The company said the management fee and other charges will total just over 4% of net returns, while the Robinhood unit will also receive 20% carried interest if the fund generates profits through successful startup exits.

Unlike most venture capital funds, which typically distribute profits and wind down after about 10 years, RVII does not appear to have a fixed end date or a commitment to regular cash distributions. Instead, investors may primarily benefit through increases in the fund’s share price.

Previous Fund Shows Both Upside And Risk

Robinhood Venture Fund I, which invests in private companies including Databricks, Mercor and OpenAI, has generally traded above its IPO price of $21. However, its performance has also highlighted the risks. After climbing above $56 per share in May, the fund has since fallen to around $28.

Robinhood has previously faced criticism over investment products linked to private companies. In 2025, it launched crypto tokens described as tokenised shares of OpenAI and SpaceX, prompting OpenAI to state that it was not involved and that the tokens did not represent ownership in the company.

Unlike those products, RVII will purchase actual shares in private companies, making it more comparable to a special purpose investment vehicle than to the tokenised assets launched in 2025.

Disney posted mixed quarterly results on Wednesday, far surpassing Wall Street expectations for earnings while slightly missing revenue estimates, with its parks and streaming businesses once again driving the company’s performance.

Parks Continue To Drive Growth

Revenue from Disney’s Experiences segment, which includes global theme parks and cruises, rose 10% year over year to $9.97 billion, despite macroeconomic uncertainty that continues to weigh on consumers.

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“Domestically we’re doing extremely well right now,” CFO Hugh Johnston told CNBC, noting that attendance at U.S. parks increased 3%, while per capita spending rose 4%. He also highlighted strong attendance at Walt Disney World in Orlando.

By comparison, Comcast’s NBCUniversal recently reported lower attendance at its Orlando theme parks, citing weaker consumer sentiment and higher travel costs.

Streaming Supports Results

Revenue from Disney’s streaming business, primarily Disney+ and Hulu, increased 11% to $5.53 billion, driven by subscriber growth, price increases and higher advertising revenue.

Overall revenue from the Entertainment segment, which also includes traditional television and theatrical releases, rose 6% to $11.35 billion, helped by the success of Toy Story 5, which has surpassed $1 billion at the global box office.

Disney no longer reports quarterly streaming subscriber numbers or a breakdown of revenue and operating income for its linear television networks.

Earnings Top Forecasts

For the fiscal third quarter ended June 27, Disney reported earnings per share of $2.06, above analysts’ expectations of $1.86, while revenue reached $25.25 billion, slightly below the expected $25.4 billion.

Overall revenue increased 7% year over year, while adjusted earnings rose to $2.06 per share from $1.61 a year earlier. Shares gained roughly 4% in premarket trading following the results.

Sports And Share Buybacks

Revenue from Disney’s Sports segment, led by ESPN, rose 4% to $4.5 billion, supported by subscription and affiliate fees as well as advertising revenue. Johnston said viewership for the NBA and NHL Finals more than doubled compared with last year.

Disney also raised its fiscal 2026 share repurchase target to at least $9 billion, up from $8 billion previously, following the sale of its 50% stake in A+E Global Media to Hearst.

Beginning in fiscal 2027, the company will move much of its consumer products business to the Entertainment division. Separately, Disney announced a global partnership with TikTok aimed at expanding Disney-related fan content across the platform.

Missile Attack Pushes Crude Higher

Oil prices moved higher on Wednesday after Yemen’s Iran-backed Houthi militants claimed responsibility for a missile strike on a Saudi Arabian tanker in the Red Sea. Brent crude, the international benchmark, rose 1% to $80.22 per barrel, while U.S. West Texas Intermediate futures gained 0.46% to $76.12. The Iranian-backed group said the tanker was hit near Yanbu, a major Saudi export port for crude oil.

Hormuz Talks Continue

The reported attack came as the U.S., Iran and Oman continued negotiations aimed at easing tensions in the Strait of Hormuz. According to Axios, the parties are discussing an interim arrangement under which inbound ships would pass through Iran’s territorial waters. At the same time, outbound vessels would travel through Oman’s waters in coordination with Tehran.

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President Donald Trump told Fox News on Tuesday evening that negotiations had continued throughout the day.

“It looks like things are very good,”

he said.

Treasury Secretary Scott Bessent also told CNBC on Tuesday that an agreement to reopen the strategic waterway could be reached this week.

Market Watches Regional Tensions

The U.S. and Iran signed a memorandum of understanding on June 17 to reopen the Strait of Hormuz, but the agreement quickly unraveled after fighting broke out over shipping routes through the waterway.

According to the report, Tehran targeted vessels sailing along Oman’s coast under U.S. military protection in an effort to force ships through its territorial waters. Washington responded with more than a dozen waves of airstrikes and reinstated its naval blockade on Iran.

Oil prices had fallen around 6% on Tuesday amid optimism that the strait could reopen. Crude has remained under pressure in recent days after Trump called off a planned attack on Iran earlier this week in favour of renewed negotiations.