President Trump arrived in China today for his first summit with Xi Jinping in nearly a decade, with three towering issues on the table: Iran leverage, trade truce extension, and Taiwan arms sales. Back home, the FDA lost its commissioner after clashing over e-cigarette approvals, inflation surged to nearly 4 percent as energy costs spike, and the White House is now considering its own AI safety rules. Plus: criminal charges in the Francis Scott Key Bridge collapse, the UAE exits OPEC, and the…

President Trump arrives in China for the most consequential U.S.-China summit in nearly a decade, with 16 CEOs in tow and a new trade framework on the table. But his rejection of Iran's peace proposal is already pushing energy costs higher, with April inflation expected to approach 4 percent. The Federal Reserve held rates steady in its most divided vote since 1992, signaling no relief for years to come.

A Qatari liquefied natural gas tanker passed through the Strait of Hormuz for the first time since the Iran war began, but Trump rejected Tehran's ceasefire counter-proposal as unacceptable. In Hungary, voters delivered a landslide defeat to Viktor Orbán, with Péter Magyar's party winning 141 of 199 parliamentary seats. Plus Kevin Warsh heads toward Senate confirmation as Federal Reserve chair with plans to reshape the central bank's operations.

Gunfire erupted in the Strait of Hormuz as three U.S. Navy destroyers came under attack, testing a fragile ceasefire while diplomats negotiate over how long Iran's uranium enrichment must pause. The April jobs report came in nearly double expectations with warehousing surging ahead of tariff deadlines. Meanwhile, Russia and Ukraine's three-day ceasefire is underway with a prisoner exchange, and Gaza's peace framework is collapsing over Hamas's refusal to disarm.

Iran attacked three American destroyers in the Strait of Hormuz with missiles and drones; the U.S. struck back as nuclear talks stall over enrichment timelines. President Trump brokered a three-day Ukraine ceasefire that's already seeing violations on both sides. A landmark decade-long study found a common knee surgery may actually harm patients, and the UAE's surprise exit from OPEC signals a major shift in global energy politics.

Iran dismissed a U.S. peace proposal as an American wish-list while President Trump threatened military strikes, sending oil markets whipsawing. Jerome Powell held rates steady in the Fed's most divided vote in over 30 years and announced he'll stay on the board after stepping down as chair—a deliberate block on Trump's appointees. Plus court rulings against Trump's tariff authority, AI safety regulations coming back, and coral reefs crossing a climate tipping point.

The U.S. and Iran are negotiating a memorandum to formally end hostilities and begin nuclear talks, with stock markets surging and oil prices falling on the news. Russia threatened massive missile strikes on Kyiv ahead of Victory Day while Ukraine struck deep into Moscow. Plus the fallout from a Supreme Court voting rights ruling is reshaping congressional maps across the South, and a large study finds semaglutide linked to 45% lower depression rates.

The U.S. military operation escorting ships through the Strait of Hormuz lasted barely a day before President Trump announced a pause, though over 1,500 commercial vessels remain stranded and shots continue to be exchanged with Iranian forces. A legal battle in Colorado over AI regulation has drawn the first-ever federal intervention to challenge a state AI law, signaling how Washington may preempt state-level tech rules nationwide. Plus Kevin Warsh advances toward the Fed chair on a historic p…

Iran launched ballistic missiles and drones at UAE targets including a major oil facility, marking the first strike since the ceasefire began and pushing the region closer to open conflict. Oil prices surged and Treasury yields hit their highest level since July, with major banks now betting the Fed could raise rates instead of cutting them. Plus: Trump pushes sweeping election changes as courts block key provisions, the FDA fast-tracks three psychedelic medicines, and Amazon opens its logistic…

The U.S. military is launching "Project Freedom" to open shipping lanes through the Strait of Hormuz, but Iran's military says it will fire on any American forces that enter those waters. The Federal Reserve reported four dissents—the most in decades—with officials warning of stagflation as energy costs surge from the escalating Middle East crisis. Plus GameStop's audacious $56 billion unsolicited bid for eBay, a new Alzheimer's treatment, and the Met Gala's return with Beyoncé and Bezos contro…