Iran Hormuz plan bans U.S., Israeli ships

The Iran draft plan to reopen the Strait of Hormuz reportedly prohibits vessels from ‘hostile’ states including the U.S. and Israel. A U.S. official tells CNBC that any temporary passages must be unimpeded for all. In tech news, Alphabet raises $25bn in debt to fund A.I. projects while Kansas City Federal Reserve Jeff Schmid asks whether the sector is becoming another ‘too big to fail.’ China sees exports rise almost 24 per cent in July on the back of strong demand for its chip components. Meanwhile, President Trump imposes a 15 per cent tariff on poly-silicone products to target semi-conductor and photovoltaic product supply chains. Investors await July’s U.S. jobs report later today. Economists expect a boost of up to 83,000 jobs due in part to the recent World Cup.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.