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The Latest Breaking News from Iran

Pete Hegseth Faces 'Brutal' Congressional Grill Over Unauthorised, $1.5 Trillion Budget 'Disastrous' Iran War

On Tuesday, Pete Hegseth returned to Congress to discuss Ukraine, Iran and Donald Trump's $1.5 trillion Pentagon budget request.

International Business Times UK

Even Dictatorships Don't Fight Wars This Way

The American public never got a satisfying explanation for why Trump attacked Iran in the first place.

Reason

How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system

For the first time since the Second World War, excluding the COVID-19 pandemic, public debt in the United States has surpassed the entire economy’s GDP. As of late March, debt held by the public reached US$31.27 trillion, just ahead of the GDP of US$31.22 trillion.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

Bulletin PM briefing: Labour split as Starmer fights for his future and Iran’s nuclear threat

In case you missed it – here are five of today’s top stories

The Independent UK

'The shock is coming and no one has any answer': Uday Kotak warns Indians to prepare for the worst days after PM Modi’s austerity call

Business tycoon Uday Kotak warns that the real economic pain from the Iran war is yet to hit Indian consumers, with soaring energy prices poised to trigger a major financial shock.

The Economic Times

Crude Oil Prices Rally on Doubts Over US-Iran Ceasefire

June WTI crude oil (CLM26 ) today is up +3.95 (+4.03%), and June RBOB gasoline (RBM26 ) is up +0.1110 (+3.08%). Crude oil and gasoline prices are moving sharply higher today after President Trump cast doubt over the ceasefire with Iran, which could lead to the escalation of hostilities that...

Barchart

Why Pakistan backstabs the US, and always gets away with it

For decades, the US grappled with Pakistan's dual role as a terror war ally and a supporter of militant groups. Despite accusations of sheltering terrorists and recent reports of allowing Iranian aircraft access, the US maintained ties due to Pakistan's strategic location, nuclear arsenal, and intelligence cooperation, fearing a destabilized…

The Economic Times

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Operation Epic Furious is a video game inspired by Donald Trump's Iran War

Satirical art meets retro gaming.

Creative Bloq

Stephen Colbert on Trump’s 22ft gold statue at his golf club: ‘recreational idolatry’

The host reacted to the president’s ‘very simple’ Iran peace plan, his AI Mother’s Day images and the US transportation secretary’s new reality show

The Guardian - US

Iranian FM Araghchi to visit India for BRICS summit to bolster ties

Iran's Foreign Minister Seyed Abbas Araghchi will visit India for the upcoming BRICS summit. This high-level participation signifies strengthening ties between Iran and India. The meeting in New Delhi is crucial for multilateral cooperation. Araghchi will engage in bilateral discussions with other ministers, including India's Foreign Minister. This visit builds…

The Economic Times

Why did the US stock market crash today? Dow Jones, S&P 500 and Nasdaq sink deep into red as Iran tensions and soaring oil prices fuel fresh inflation fears across Wall Street

US stock market crash today shocked Wall Street after US CPI inflation jumped to 3.8%, the highest level in three years. The Dow Jones fell more than 307 points to 49,396.89, while the S&P 500 declined 0.63% to 7,366.24. The Nasdaq Composite dropped nearly 1%. Tech stocks lost momentum. Nvidia,…

The Economic Times

'A miserable number': Iran war and AI spending drove inflation to a 3-year high

KPMG's Diane Swonk says the Iran war is in your groceries, AI is in your electricity bill, and the Fed has no easy way out.

Fortune

Sensing an edge, Iran 'ready to gamble' it can outlast Trump

Iran's leadership is betting it can outlast an under-pressure Donald Trump in its peace negotiations with Washington, but its defiance risks renewed military confrontation and further stoking domestic tensions, analysts say.in Tehran that Trump and Israel could no longer wield the threat of military action to pressure the leadership.

The Economic Times

UK Employment Forecast 2026: 163,000 Jobs Threatened as Iran Conflict Disrupts Supply Chains

A new forecast warns the UK could lose 163,000 jobs in 2026 as higher energy costs and supply chain disruption hit manufacturing, construction and consumer spending across key regions.

International Business Times UK

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Barchart

Dollar Rallies on Crude Oil Strength as Hot US CPI Report

The dollar index (DXY00 ) today is up by +0.45%. The dollar is climbing today on renewed concerns that the US-Iran ceasefire may break down after President Trump said the current ceasefire was on "life support." Today's +3% surge in crude oil prices also boosts inflation expectations and may prompt...

The Times of India

'Overplayed its hand before': Iran bets Trump will blink first - will the gamble work?

Iran is betting it can outlast President Trump's term in high-stakes negotiations, employing brinkmanship and economic pain tolerance. Analysts warn this strategy, centered on weaponizing the Strait of Hormuz, risks escalating into renewed war if Iran overplays its hand.

International Business Times

Oil Rises As Hope For Iran Deal Continue To Fizzle

Oil rose again on Tuesday as hopes for a deal to end the war in Iran continue to fizzle.

Euronews

Iran war pushes US inflation to 3.8% as petrol prices surge

US consumer prices rose 3.8% in April as the Iran war drove petrol costs up 28% in a year, with real wages falling for the first time in three years, according to government data.

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The Economic Times

Investors say they want Trump and Xi to stay out of AI's way

The tables have turned. There's little China is eager to discuss with Trump," said Yang Tingwu, vice general manager of Tongheng Investment, adding that Trump's unresolved war with Iran has weakened his hand

International Business Times UK

Trump Takes Billionaire Powerhouse to China — Delegation's Combined Wealth Exceeds GDP of Most Nations

Trump heads to Beijing with 16 CEOs including Elon Musk and Tim Cook. Their £639bn ($868bn) combined fortune surpasses Sweden's entire GDP

The Independent UK

Iran threatens to accelerate nuclear weapon program as cost of war rises to $29 billion

IN FULL

Reason

The War Comes for Your Wallet: Inflation Hits 3.8%, Highest Level in 3 Years

Prices are now rising faster than wages, just like during much of the Biden years. The war in Iran is largely to blame.

Euronews

Qatar warns Iran against weaponising Hormuz to 'blackmail' Gulf countries

Qatar warned Tehran on Tuesday against using the Strait of Hormuz as a "weapon" to hold Gulf states to ransom, as Doha and Ankara backed ongoing mediation efforts to end the Iran war and restore access to the vital waterway.

The Economic Times

US stocks today: US stocks fall as hot CPI, Iran tensions weigh on sentiment

Wall Street edged lower as hotter-than-expected U.S. inflation and persistent Middle East tensions dampened sentiment. With CPI at a three-year high, markets now see the Federal Reserve holding rates steady for longer, even as earnings strength offers some support.

The Economic Times

Why is BTC falling? Will Bitcoin price go up today as crypto market loses $23 billion amid Iran tensions and oil fears?

The crypto market lost nearly $23 billion in value within hours as Bitcoin price slipped below $81,000 and investor fear returned across global markets. The total crypto market cap dropped to $2.67 trillion while Bitcoin failed to break above a major resistance zone near $83,600. That rejection changed market sentiment…

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