Stake

• South Koreans are participating in high-stakes local elections that serve as a critical political test for President Lee. • The elections are being closely monitored as a measure of public sentiment and a referendum on the current administration's performance. • These results are expected to influence the political landscape and the strategic direction of the ruling party moving forward.

• President Lee Jae-myung addressed the prosecution on the 2nd, urging officials to apologize and withdraw when mistakes are made rather than operating under a delusion of infallibility. • Lee advocated for the introduction of mail and electronic voting to expand the voting rights of overseas Koreans, describing it as a basic citizen's right rather than a service. • He emphasized that while minority opinions should be respected, the National Assembly must not avoid the issue and should proceed based on majority opinion if agreements cannot be reached.

• Norges Bank disclosed a new stake in Wells Fargo in its latest 13F filing, according to a report published on May 30. • The filing adds to ongoing investor interest in large U.S. banks as markets assess credit conditions, capital returns and the outlook for financial stocks. • The move matters because institutional positioning can signal changing conviction around megabank valuations and earnings durability.

Former chancellor also tells Hay festival ‘good riddance’ to Tory MPs defecting to ReformSajid Javid said that supporting Liz Truss in the Conservative leadership contest that ultimately made her prime minister was his “biggest mistake in politics”.Speaking at the Hay festival in Wales while promoting his memoir, the former chancellor, who is no longer an MP, said there were friends in the Conservative party he remained in contact with. Continue reading...

• President Donald Trump held a White House Situation Room meeting on Friday as advisers pushed toward a “final determination” on Iran, according to live updates from U.S. outlets. • Trump said Iran must never obtain a nuclear weapon and publicly tied any deal to reopening the Strait of Hormuz immediately, while Vice President JD Vance said the U.S. and Iran were “very close.” • The outcome matters because it could shape U.S. military posture, sanctions policy, and regional energy flows, with oil-market and security implications beyond the Middle East.

The $26m deal involving media executive Bruce McWilliam signifies return to media business for mining billionaire after previous holdings in Fairfax and TenFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastGina Rinehart, Australia’s richest person, has bankrolled former Seven media executive Bruce McWilliam’s acquisition of an almost 10% stake in Southern Cross Media, which owns the Seven Network, the Triple M and Hit radio brands and West Australian Newspapers.While the unusual arrangement – worth about $26m – does not give Rinehart a direct stake in Southern Cross, she could take control of the shares if McWilliam breaches the terms of their deed, which was published on the ASX on Wednesday. Continue reading...

With a second investigation under way into his conduct, Paul Brereton tells estimates about concerns of workersGet our breaking news email, free app or daily news podcastAustralia’s federal anti-corruption body is filled with staff “terrified of making any mistake of fact or law”, the outgoing commissioner claims.Paul Brereton, the National Anti-Corruption Commissioner, also defended his actions and decisions as the watchdog’s first head explaining his resignation was due to “distractions”, including two ongoing investigations into his conduct. Continue reading...