Looms

• Former President Trump met with Israeli Prime Minister Benjamin Netanyahu to discuss regional stability and joint diplomatic efforts. • The meeting occurs as the U.S. and Iran attempt to negotiate a deal to reopen the Strait of Hormuz, which Iran has controlled since the war began on February 28. • This diplomacy follows a recent lull in hostilities that had previously expanded to include Saudi Arabia and Houthi rebels in Yemen.

• European markets are experiencing declines, with Germany’s DAX slipping by 42 basis points and France’s CAC 40 dropping by 85 basis points. • The downturn is driven by investor anticipation of an upcoming policy decision from the European Central Bank (ECB) and varied reactions to corporate earnings reports. • Economic predictions are further complicated by ongoing geopolitical tensions and fluctuating oil prices, adding volatility to the indices.

Anthony Albanese will cast ‘practical’ policies as the key to countering the anxiety and frustration in AustraliaGet our breaking news email, free app or daily news podcastStudents in 10 fields including physiotherapy, speech pathology and clinical psychology will receive financial assistance to complete mandatory placements under a major expansion of the federal government’s paid work experience program.The prime minister, Anthony Albanese, will make the announcement in a speech to open the Labor national conference on Thursday, which will cast “practical” policies as the key to combating the anxiety and frustration gripping the electorate. Continue reading...

• Barcelona has signed midfielder El Maimouni from the Belgian club Sporting Charleroi. • The player, a dual citizen of Morocco and Belgium, is praised for his composure and forward passing, drawing comparisons to Sergio Busquets. • El Maimouni will first develop within Barcelona's renowned La Masia academy to prepare for a future transition into the first team.

British domestic holidays are being pushed to their highest levels since CovidThe start of the peak summer season is set to bring millions of drivers on to British roads, with concerns of traffic chaos as the port of Dover faces its biggest test yet of new EU border controls.The semi-functioning entry-exit system (EES) is credited, along with the heatwaves and fears about flights after the war in Iran, with helping push British domestic holidays to its highest levels since Covid halted international travel. Continue reading...

• Wall Street enters a peak period of the second-quarter earnings season, featuring reports from major financial institutions including Morgan Stanley, Bank of New York Mellon, Regions Financial, and Fifth Third Bancorp. • Technology and AI sectors will be under scrutiny as industry heavyweights ASML, Taiwan Semiconductor Manufacturing Co. (TSMC), and Netflix release their financial results between Wednesday and Thursday. • Beyond corporate earnings, investors are focused on a "packed economic calendar" to analyze critical inflation data that may influence market trends.

Nearly 17,000 injured and thousands more listed as missing amid calls by president Delcy Rodríguez and UN for financial helpThe death toll in Venezuela’s devastating twin earthquakes has passed 4,300, the government said on Saturday.At least 4,333 people were killed and 16,740 injured in the back-to-back quakes on 24 June that flattened entire districts in the coastal state of La Guaira, the Venezuelan parliament chief, Jorge Rodríguez, wrote on Telegram. Thousands more people are listed as missing. Continue reading...

• The U.S. Men's National Team (USMNT) is preparing for a critical last-16 World Cup match in Seattle this Monday. • This home-soil appearance occurs amidst record-setting audiences and a significantly increased cultural resonance for soccer in the U.S. compared to the 2002 run. • A victory could fundamentally transform the trajectory of American soccer, while a loss would be viewed as a major missed opportunity for the sport's growth.

• Meta Platforms (NASDAQ: META) is seeking to monetize its significant investments in artificial intelligence by targeting new cloud-based revenue streams. • While these initiatives offer growth potential, investors are concerned about a potential margin trade-off due to the high costs of AI infrastructure. • This shift is critical as Wall Street evaluates whether Meta's massive spending bill will translate into sustainable profitability.

• Asian stock markets declined following a significant selloff of semiconductor shares on Wall Street. • Key indices saw sharp drops, including South Korea’s KOSPI, which sank 4.8%, and Japan’s Nikkei, which fell 1.4%, while the MSCI Asia-Pacific index dipped 1.2%. • Hong Kong's Hang Seng index provided a rare exception to the trend, recording a gain of 0.9%.

• Asian chip stocks experienced a decline, with major companies including Samsung Electronics, SK Hynix, Advantest Corp, Tokyo Electron, and TSMC all seeing their shares slump. • Investors are currently awaiting the release of the U.S. employment report, which is expected to significantly influence global market movements. • The Trump administration is reportedly planning to introduce voluntary standards for advanced artificial intelligence models as early as next week.

• Asian markets declined on Friday, with the MSCI Asia-Pacific index (excluding Japan) falling 1.2% and Japan's Nikkei dropping 1.4%. • South Korea's KOSPI experienced a significant 4.8% plunge, continuing a downward trend following a massive 68% surge in Q2 driven by AI memory chip demand. • Hong Kong's Hang Seng index provided a rare bright spot, bucking the regional trend with a 0.9% gain.

Many seabirds are starving to death as a marine heat wave lingers off California and fish seek deeper, cooler watersWithin minutes of walking on a San Diego beach, marine ornithologist Tammy Russell found the feathered carcasses – one after another.Some were mixed in with washed up kelp. Others were under rocks. Continue reading...

• A "SaaSpocalypse" is emerging as many software-as-a-service (SaaS) stocks continue to struggle despite a broader surge in the AI-driven tech trade. • While the overall market has seen a historic quarter, specific software companies are facing stagnant growth and valuation pressures. • This trend highlights a growing divergence between high-flying AI infrastructure plays and the application-layer software companies trying to integrate AI.

The LNP’s unapologetic moves on crime, transgender healthcare and police-led suppression of protests are a throwback to days many thought had come and goneGet our breaking news email, free app or daily news podcastA sign stopped Aunty Sandra King in her tracks. The elder of the Yagara, Quandamooka and Bundjalung people, now in her 70s, spoke at a protest last month against plans to build an Olympic stadium in the heart of Brisbane’s Victoria Park.In the crowd a man held aloft a homemade placard with the words “I Preferred Joh”. Continue reading...

• Bitcoin miners transitioning to AI and high-performance computing are facing a near-term funding gap of approximately $50 billion. • According to a June 2026 analysis by VanEck, long-term capital expenditure requirements for this infrastructure buildout are expected to reach roughly $221 billion. • To address this shortfall, investors are shifting strategies toward crypto-native protocols and REIT-style financing models to fund the necessary hardware and facilities.

Reform leader claims ‘anti-whiteness is institutionalised’ in UK as polls suggest Labour have lead in MakerfieldUK politics live – latest updatesNigel Farage said he would ban foreign nationals from social housing and then deport them if they could not find private sector homes, in a hardening of anti-immigration rhetoric before the Makerfield byelection.It comes as two new polls in Makerfield suggests Farage’s Reform UK continues to leak potentially crucial support to its far-right rival Restore Britain, which is led by the former Reform MP Rupert Lowe. Continue reading...

Price of dairy product has risen fivefold after users of GLP-1 medications advised to increase protein consumptionThe growing popularity of weight-loss drugs has fuelled global demand for whey protein, sparking concerns among industry experts over a potential shortage.The price of whey has risen fivefold to record levels as companies race to secure supplies amid a boom driven by growing use of GLP-1 drugs, such as Mounjaro, which often require higher protein intake to preserve muscle mass. Continue reading...

• Pope Leo XIV shared his soccer preferences during a tour of Spain and the Canary Islands, noting he would have likely supported Peru over the U.S. in the World Cup. • The Pope clarified that Peru did not qualify for the current tournament, removing the conflict of interest regarding his former missionary work in the country. • Regarding the "El Clásico" rivalry, the Pope stated he is "for all teams," while noting that Prevost supports Real Madrid.

• SK Hynix has joined Asia’s "trillion-dollar company club," joining Samsung Electronics and Taiwan’s TSMC as market valuations soar. • The surge is driven by the global AI boom, which has pushed South Korea’s Kospi stock market to record highs. • Experts warn of potential "short-circuits," citing the risks of boom-bust cycles and the South Korean economy's heavy reliance on just two major chipmakers.

Labour MP writes to chair amid concerns building societies are overusing quick votes and failing to add members to boardsNationwide is under pressure to address “emerging governance issues” across the building society sector, amid concerns bosses are bundling voting options and failing to allocate board seats for members.The Stockport Labour MP Navendu Mishra has sent a formal letter to the chair of Nationwide, Kevin Parry, outlining growing unease over the way executives, including at Nationwide, have been engaging with members who ultimately own their building societies. A letter raising similar concerns was sent to the chancellor, Rachel Reeves, in recent weeks. Continue reading...

Voters in northern Brisbane electorate go to polls after sudden death of former independent MP Jimmy SullivanGet our breaking news email, free app or daily news podcastA byelection in the Brisbane seat of Stafford is expected to swing towards the sitting LNP Queensland government in a result experts say would likely be fatal to former premier Steven Miles’ leadership of the Labor party.Voters in the northern Brisbane electorate of Stafford have gone to the polls after the sudden death of former independent MP Jimmy Sullivan in April. Continue reading...

State can meet fuel demand for next six weeks with its current supply, its energy commission vice-chair said. Plus, alleged Jeffrey Epstein suicide note unsealed by federal judgeGood morning.Gas prices have risen above $6 in California – but there is yet more uncertainty on the horizon after the last oil tanker from the Middle East arrived in the state this week.What do we know about progress on a deal? Axios reported on Wednesday that Washington and Tehran were close to agreeing on a memorandum of understanding to end the war. Officials in Pakistan told the Guardian that an initial framework could possibly be agreed within 48 hours – but that nothing was certain and talks remained “difficult”.Head to our liveblog for the latest. Continue reading...

With gas more than $6 in state, delivery of some 2m barrels is last planned shipment to pass through strait of HormuzMiddle East crisis – live updatesThe average price of a gallon of gas in California already stands at more than $6, but more uncertainty looms as the last oil tanker headed from the Middle East arrived in the Golden state this week.The Los Angeles Times reported on Sunday that the New Corolla, which left the Middle East for California before the war broke out, is delivering some 2m barrels of crude oil from Iraq to Long Beach. It was the last planned shipment to pass through the strait of Hormuz. Continue reading...

Kremlin tightens security ahead of Russia’s biggest national celebration on 9 May amid fears of Ukrainian drone strikesRussia shut down airports and temporarily cut mobile internet access for many users in Moscow on Tuesday, as it tightened security ahead of the 9 May Victory Day parade marking the defeat of Nazi Germany.The parade – Russia’s foremost national celebration – has already been scaled back and will proceed without heavy military hardware for the first time in nearly two decades, amid fears of long-range Ukrainian drone strikes. Continue reading...

Anthony Odiong is accused of sexually abusing three spiritually vulnerable female congregants in WacoPlans are under way for the Roman Catholic archdiocese of New Orleans to remove a priest’s name from a chapel he helped build outside the city as a criminal trial looms in Texas for the clergyman on criminal charges that he sexually abused three spiritually vulnerable female congregants there, the Guardian has learned.Anthony Odiong had reportedly raised $600,000 to build and then open Our Lady of Guadalupe Healing Chapel in Luling, Louisiana, in 2020, while he was the pastor at an adjacent church, years before authorities criminally charged him in Texas, where he had also previously ministered. His name has since appeared on various inscriptions outside the chapel and on the structure itself even as the criminal case against him has progressed toward trial. Continue reading...

Donald Trump says US ready to renew attacks but Iran appears unwilling to bend to US president’s threatsIntense efforts were under way on Tuesday to bring Iran and the US together in Pakistan for a new round of talks, a day before the end of the two-week ceasefire that has paused the conflict in the Middle East.Donald Trump said on Tuesday he is ready to renew attacks against Iran if progress is not made at any talks, with the US military “raring to go”. Continue reading...

Ministers also asked to alter compensation rights and suspend emissions trading scheme amid Middle East warAirlines are lobbying the UK government to relax environmental and noise rules, modify passenger rights and cut taxes on flying, as they prepare for higher costs and a possible shortage of jet fuel because of the war in the Middle East.A list of policy requests submitted to ministers and the aviation regulator includes suspending the emissions trading scheme and relaxing limits on night flights, it has emerged. Continue reading...