Federal Reserve holds interest rates steady for fourth time this year

• The Pentagon has renamed the Indo-Pacific Command shortly before the G7 Summit, sparking concerns regarding the stability of India-US relations and future trade ties. • Pentagon officials claim the renaming is a primarily administrative move designed to restore historical military traditions rather than a strategic shift.

• President Zelenskyy has expressed concerns that peace negotiations between the United States and Russia could exclude Ukraine, potentially leading to a resolution that ignores Kyiv's interests. • The Ukrainian government is specifically seeking firm security guarantees to prevent future aggression and ensure long-term stability.

• Diplomats and analysts are questioning the continued relevance of the G7 ahead of its annual summit in Évian-les-Bains, suggesting the forum has lost influence in the era of Donald Trump. • Critics, including Bloomberg’s Europe editor Flavia Krause-Jackson, note that the G7 was excluded from U.S.-Israeli war planning regarding Iran.

• Leaders from Brazil, India, and Kenya met with G7 representatives in Evian to discuss international cooperation and development. • The G7 is utilizing these meetings to present a new narrative on development aid as a strategic move to counter China's expanding economic influence.

• The United States is increasingly utilizing economic power and tariffs as geopolitical weapons to achieve strategic goals that traditional diplomacy cannot. • This shift reflects a broader global trend where powerful economies frame strategic power moves as adherence to universal principles or humanitarian missions.

• UN Spokesperson Stéphane Dujarric reported on Tuesday that violence and exchanges of fire in Lebanon have significantly decreased compared to the previous weekend. • In the Gaza Strip, OCHA warned that critical shortages of fuel, engine oil, and spare parts are severely hindering water production, wastewater treatment, and waste management.

Exclusive: Allies of Labour’s Makerfield candidate concerned rapid collapse of Starmer government would increase instability Andy Burnham’s campaign has been forced to talk ministers out of resigning as early as this weekend to avoid Keir Starmer’s government descending into chaos amid fallout from the Makerfield byelection, the Guardian can reveal.As they prepare for a potential change of leader in the event he beats Reform on Thursday, Burnham’s team is increasingly concerned a rapid collapse of Starmer’s administration would mean further instability for the country. Continue reading...

Details of 14-point MOU revealed as senior US officials claim ‘major win’ despite significant concessions to TehranMiddle East crisis – live updatesThe Trump administration has released the text of its 14-point agreement with Iran, claiming it delivered a “major win” for the United States – even as it made significant political and financial concessions to Iran to reopen the strait of Hormuz and prevent a “worldwide depression”.In extraordinary remarks on Wednesday, Donald Trump went from threatening Iran with a new wave of attacks to suggesting that Iran had basic rights to enrich uranium for civilian use, that he would not pressure Tehran to abandon its ballistic missiles program and that the US was “going to have to give back” billions of dollars in frozen Iranian assets. Continue reading...

Jane and Alan Kelvey know what happened when their small holiday yacht met a warship in the Channel – but Moscow tells a different story“We actually had right of way,” said Jane Kelvey, a little crossly, though keeping it civil. “But we weren’t going to argue with a warship.”The dramatic stand-off in the Channel on Tuesday morning between Admiral Grigorovich, a 125-metre (409ft) battle-hardened Russian frigate, and Bright Future, a 12-metre (40ft) pleasure yacht owned and helmed by Jane, 69 and her husband Alan, 71, has rather caught the nation’s imagination. Continue reading...

Don Berthiaume, Trump nominee for inspector general at justice department, pressed by senators amid confirmationDonald Trump’s nominee to serve as a top independent watchdog at the Department of Justice has refused to call the January 6 insurrection an “attack” during questioning by US senators.Don Berthiaume, a career justice department employee who has been serving as inspector general at the agency, faced senators as part of his confirmation process to take up the role permanently on Wednesday. Continue reading...

No formal warning issued to captains or ship owners, but industry body says they are exercising greater vigilanceBritish officials believe Russia will try to retaliate for the Royal Marines’ seizure of the oil tanker Smyrtos, prompting UK ship owners to exercise greater vigilance until tensions with Moscow ease.Military sources said the UK had considered possible responses to a seizure of the vessel carrying Russian crude worth $40m (£30m) to India, and anticipate that the Kremlin will want to hit back. Continue reading...

Lawmakers cite rushed timeline and public input despite pressure to redraw districts after supreme court opinionGeorgia Republicans declined to redraw the state’s congressional map during a special session, citing a rushed timeline and incomplete understanding of the ramifications of a recent US supreme court decision that effectively gutted a major section of the Voting Rights Act.“We believe that it’s important to do things the Georgia way, responsibly, transparently, and with ample opportunity for public input,” said Jon Burns, the Georgia house speaker. Continue reading...