New York Times: Secret new assessments say Iran has operational access to 30 of its 33 missile sites along the Strait of Hormuz, suggesting that its military remains far stronger than President Trump has asserted…
Pentagon Puts War at $29 Billion as Hegseth Is Mum on Funding Request
The estimate from the Defense Department’s top budget official was $4 billion higher than two weeks ago. Secretary Pete Hegseth declined to say when the administration would request extra money for the Iran conflict…
Israel is worried that Trump will strike a ‘bad deal’ with Iran, leaving war objectives unmet
“The primary concern is that Trump will grow tired of talks and cut a deal – any deal – with last-minute concessions,” one Israeli source said. While US officials have reassured Israel that the issue of Iran’s stockpile of highly enriched uranium will be addressed, the source said the apparent exclusion of ballistic missiles and Tehran’s proxy network from the talks “is a big deal.”…
Trump says he does not need China’s help to end Iran war, Tehran tightens grip on Hormuz
“I don’t think we need any help with Iran. We’ll win it one way or the other, peacefully or otherwise,” he told reporters…
Saudi Arabia launched covert attacks on Iran as regional war widened, sources say
The Saudi attacks, not previously reported, mark the first time that the kingdom is known to have directly carried out military action on Iranian soil and show it is becoming much bolder in defending itself against its main regional rival…
Battle Over the Strait of Hormuz Leaves Safe Passage a Gamble
Vessels are traveling without transmitting critical information meant to keep the waters safe, maritime intelligence experts say…
The New Route Around Hormuz Involves a Massive Convoy of Trucks
Shipping companies including MSC and Maersk are trucking goods across the Arabian peninsula. The mobilization can’t replace the capacity of shipping or compete on cost, nor can it avert shortages of jet fuel and other energy products. Still, it has become a shock absorber in some key markets, sustaining trade and helping contain global inflation…
Trump Says Americans’ Economic Pain Is Not a Consideration for the Iran War
Asked whether Americans’ financial situation was motivating him to make a deal, President Trump said bluntly, “Not even a little bit.”…
US inflation jumps to 3.8% as Trump’s Iran war sends petrol prices soaring
Tuesday’s figure was above Wall Street expectations and marks the first time in three years inflation has outstripped wage growth…
An uncomfortable place for households — and the Fed
“Even if they want to support the labor market and support growth, it’s hard to justify (a rate cut) when core inflation is pushing up on 3% and threatening to climb above it,”…
Prices for these grocery items have spiked highest since the war began
Relentlessly climbing energy costs, coupled with tariffs and ongoing agricultural and farming issues, mean grocery bills are rising quickly and might continue for months. Costs spiked especially for a few key staples of Americans’ diets, including fresh produce and beef…
UAE’s secret attack on Iran risks drawing Gulf states into the war
The news is likely to make the UAE an even clearer target for Iran if the ceasefire is abandoned and the US and Iran restart the conflict. Donald Trump said on Monday the ceasefire was hanging by a thread due to Iran’s failure to make the concessions he is seeking over its nuclear programme…
How war hit the Gulf dealmaking machine
Bankers had been on pace for $1bn in deal fees for the first time in almost 20 years. Now, everything is on ice…
Wall Street Is Getting More Anxious About Long-Term Inflation
Driven largely by the war-fueled surge in oil prices, the rise in inflation expectations worries investors because of the challenges it poses for the Fed’s interest-rate policy and major indexes’ latest run to records…
Prices at the Pump Are Wiping Out Wage Gains
Americans are dealing with a math problem. While hourly wages rose a seasonally adjusted 3.6% on the year through April, the pace has mostly slowed over the past four years as hiring cooled from a postpandemic hot streak. Meanwhile, inflation was 3.8% year over year, pushed up by surging fuel costs. After seasonal adjustment and rounding, the Labor Department said this leads to a 0.3% decline in inflation-adjusted hourly wages, also known as real hourly earnings…
Earthquake Shakes Tehran, a City With Already Frayed Nerves
Iranian media said a moderate quake had shaken the capital around midnight local time…