The Federal Reserve held rates steady under new Chair Kevin Warsh and sharply cut expectations for future cuts, now projecting only one quarter-point reduction for the rest of 2026 as inflation remains elevated. The Justice Department approved Paramount's $110 billion acquisition of Warner Bros. Discovery with no concessions, though state attorneys general and foreign regulators could still block the deal. Plus Anthropic escalates its standoff with the government, Apple pays Google $1 billion a…

Pakistan confirmed a finalized peace deal text between Washington and Tehran exists, but the nuclear question remains completely deadlocked as both sides continue striking each other. The U.S. government ordered AI company Anthropic to pull its most powerful model offline for the first time. Plus Section 702 surveillance authority lapses, researchers unveil a vaccine targeting the entire fentanyl class, and South Korea's ex-president gets 30 years for allegedly engineering a crisis to justify m…

President Trump announced a "great settlement" to end the Iran war with signing possible this weekend, but Tehran immediately disputed the claim. The European Central Bank raised interest rates for the first time since 2023, citing Middle East conflict as the main driver of eurozone inflation. SpaceX's record $1.75 trillion IPO began trading on Nasdaq, plus breakthroughs in HIV treatment and a major review questioning opioids for acute pain.

The U.S. launched a second consecutive night of strikes on Iranian air defense systems near the Strait of Hormuz, while Iran rejected a 15-point peace plan and demanded Lebanon be included in any ceasefire deal. May consumer prices rose 4.2 percent year-over-year, the fastest pace since early 2023, driven largely by surging energy costs from the conflict. SpaceX priced its IPO at a record $1.75 trillion valuation, and Congress passed the Secure America Act on immigration enforcement.

An Iranian Shahed drone struck a U.S. Apache helicopter near the Strait of Hormuz, triggering rapid escalation with U.S. strikes on Iranian defense sites and Iranian attacks on military bases in three countries. The two-month ceasefire is now in serious jeopardy. Meanwhile, CEO confidence fell back into contraction territory and more executives plan layoffs than hires for the first time ever, contradicting last week's strong jobs report.

Iran and Israel agreed to stop mutual attacks after Sunday's escalation, with Trump personally intervening to push toward a ceasefire—but Israel struck Lebanon within an hour of Iran's announcement, exposing a core sticking point. The conflict is already reshaping global economics: airlines slashed profit forecasts by 44% due to surging fuel costs. A new data report shows the world recorded its highest number of state-involved conflicts since 1946, with nearly 245,000 killed in organized violen…

Iran launched direct missile strikes at Israel for the first time since the April ceasefire, escalating the conflict to its 100th day and sending oil prices above $93 a barrel. Apple is rebuilding Siri as a Google Gemini-powered chatbot and letting users choose their own AI models—a major shift for the closed-ecosystem company. Also: federal workers lose job protections under a new executive order, the Senate passes $70 billion for border enforcement, and researchers find GLP-1 drugs may cut br…

Inflation climbed to nearly 4 percent in April, the highest since May 2023, while Americans' personal savings rate hit a 65-year low outside the pandemic era. DeepSeek, the Chinese AI lab known for bootstrapping, is now raising $7 billion in its first external funding round to compete in the AI arms race. The National Science Foundation is dismantling a critical ocean monitoring network tracking Atlantic currents despite Congress funding it twice.

Nonfarm payrolls more than doubled forecasts in May with 172,000 new jobs, though long-term unemployment is rising sharply. Iran's ceasefire negotiations with the U.S. hit a deadlock over a $24 billion asset release demand, with threats to expand military operations across the Indian Ocean and Mediterranean. The Senate passed its $70 billion immigration enforcement bill after an 18-hour marathon vote, and Google launched an autonomous AI agent that works in the background without keeping your d…

Israel and Lebanon agreed to a ceasefire framework, but Hezbollah immediately rejected it, saying it demands full Israeli withdrawal first. The deal unraveled further as Iran's Revolutionary Guard struck Kuwait's airport and a U.S. base in Bahrain with missiles and drones. Meanwhile, Anthropic filed to go public with a nearly trillion-dollar valuation, setting up a race with OpenAI for the first frontier AI IPO.