The US-Iran truce sparked frustration in Israel, potentially upending Prime Minister Benjamin Netanyahu’s reelection bid and fracturing the country’s ties with Washington. Israeli media condemned the deal Washington signed with Tehran as “a catastrophic capitulation” and “a betrayal.” With parliamentary elections due by October, Netanyahu’s party has scrapped plans to ...
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UK special election could reshape politicsUK special election could reshape politics
Roughly 70,000 voters in a mostly suburban part of northwest England will today determine the fate of the UK government. Andy Burnham, the Manchester mayor, is aiming to win a special election by appealing for grand national renewal — and promising to address frustrations over local traffic congestion. Burnham leads ...
Apple to raise prices as memory chip costs surgeApple to raise prices as memory chip costs surge
Apple said it would increase prices on some of its products in response to the surging cost of memory chips, which analysts predict could rise even further in coming months. The rapid rollout of AI infrastructure has sent demand for semiconductors soaring, with the cost of memory rising around 90% ...
Iran’s energy weapon workedIran’s energy weapon worked
Tim’s view The deal signed yesterday between Washington and Tehran to reopen the Strait of Hormuz proved Iran’s energy weapon was powerful enough to take on the world’s mightiest military and come out ahead. Earlier in the conflict, US President Donald Trump repeatedly stressed that the war could only end ...
Saudi-US mining company turns to IranSaudi-US mining company turns to Iran
A major US-Saudi mining investment program is shifting its focus to Iran’s reconstruction. During Trump’s visit to Riyadh last year, the US investment firm Burkhan World signed a $9 billion MOU with the Saudi mining firm Grand Mines, aimed at strengthening Saudi access to critical mineral supply chains. Originally, the ...
The Fed’s Warsh era starts with a flurry of change, but steady ratesThe Fed’s Warsh era starts with a flurry of change, but steady rates
The News New Federal Reserve Chair Kevin Warsh rolled out many new initiatives at the central bank on Wednesday, from balance sheet management to public communications — and a potential rebrand for more hawkish policy. “I am pleased to report that members of the FOMC are unambiguous and unanimous: This ...
Trump defends Iran deal after markets forced his handTrump defends Iran deal after markets forced his hand
US President Donald Trump defended the Iran deal that offers several concessions to Tehran, saying Wednesday he wanted to avoid an “economic catastrophe.” It was an admission that the markets forced his hand, with the war driving up inflation and energy costs. Terms in the US draft include reopening the ...
Global central banks grapple with warGlobal central banks grapple with war
Global central banks’ responses to the Iran war’s energy crisis reveal different underlying concerns. The US Fed held rates steady and hinted at future hikes; the ECB last week increased rates, as did Japan’s central bank on Tuesday, all of them trying to tamp down the Iran war-fueled inflation. While ...
EU eyes unified China approachEU eyes unified China approach
The EU is increasingly united on the need for a tough approach to China. Europe has long been nervous about cheap, state-subsidized Chinese goods undermining the continent’s manufacturing industries. Paris has led efforts to respond, calling for new tariffs and other measures, but Berlin has been more wary, since Chinese ...
Trump praises Modi as ‘angel,’ ‘killer’Trump praises Modi as ‘angel,’ ‘killer’
US President Donald Trump said he would visit India soon, an apparent effort to smooth over rocky relations with New Delhi. At their G7 meeting Wednesday, Trump praised Indian leader Narendra Modi as an “angel” but “total killer,” referencing the yearlong tough negotiations that are yet to produce a trade ...