News

• Markets are experiencing a partial reversal of Monday's geopolitical relief trade following new challenges from Iran. • Recent data suggests a strengthened earnings outlook for capital-goods and industrial companies, though elevated input prices remain a concern. • This growth creates a policy dilemma for the Federal Reserve, as strong economic performance may prevent interest rate easing despite temporary drops in headline inflation.

Airline removes carry-on weight limit but will charge for bags that don’t fit under seat. Follow today’s news liveGet our breaking news email, free app or daily news podcastGood morning, and happy Wednesday. Nick Visser here bright and early. Here’s what’s on deck.Jetstar will make it more difficult for travellers to bring carry-on baggage onboard an aircraft. The company will remove its 7kg carry-on weight limits, but impose a size-based model that will allow customers to bring just one underseat bag. An overhead bag will now cost. Continue reading...

• President Donald Trump announced the launch of "major combat operations" against Iran on February 28, involving massive joint strikes conducted by the U.S. and Israel. • Simultaneously, U.S.-facilitated diplomatic talks between Lebanon and Israel commenced on Tuesday in Rome to address regional security threats. • State Department spokesman Tommy Pigott stated the goal of these negotiations is to ensure lasting security for Israel and restore Lebanese state authority in the south.

• A star-studded group of 29 players has been selected to compete in the upcoming MLS All-Star Game. • The event is scheduled to take place in Charlotte at the end of the month, showcasing the league's top talent. • This celebration of league stars occurs as North America prepares to host the World Cup, which begins in less than two weeks.

• Betting platforms Kalshi and Polymarket now allow users to wager on whether the FDA will approve treatments for lung, breast, pancreas, and blood cancers this year. • Kalshi intends to expand its offerings by allowing users to bet on the specific outcomes of clinical drug trials. • Simultaneously, the FDA has reiterated concerns regarding Replimune's lack of adequate data as the biotech company attempts for a third time to gain clearance for a controversial skin cancer drug.

• Italy has suspended free movement and border-free travel with Spain following a deadly crossing incident in Ceuta. • Analysts suggest the decision is driven by political motivations rather than practical security needs. • The move raises critical questions about the stability of the Schengen Area and whether the zone of free movement is currently in crisis.

• On August 4, 2026, Iran's Supreme Leader Khamenei reportedly issued a "final ultimatum" to President Pezeshkian. • The Supreme Leader has explicitly signaled his support for the commander of the Islamic Revolutionary Guard Corps (IRGC). • This development indicates a significant power struggle and tension between Iran's top religious leadership and its executive branch.