Targets

• A U.S. class action lawsuit has been filed against memory giants Samsung, SK Hynix, and Micron, alleging they colluded to manipulate DRAM prices. • Plaintiffs claim the companies intentionally cut production of legacy DDR3 and DDR4 products under the pretext of transitioning to High Bandwidth Memory (HBM), causing prices to surge by 700% over four years. • The price spike reportedly forced Apple to increase the retail costs of its Mac and iPad product lines to offset higher component expenses.

US commerce department accuses state of ‘environmental terrorism’ and plans to evaluate its coastal agencyThe Trump administration plans to evaluate the performance of the California Coastal Commission, in the latest escalation of a dispute between the state’s Democratic leaders and the federal government over energy production.Per federal law, the National Oceanic and Atmospheric Administration (Noaa) is required to conduct reviews of federally approved coastal management programs, which take into consideration “the extent to which the State of California has implemented and enforced the program approved by the [commerce] Secretary”. Continue reading...

• U.S. Navy and Air Force fighter jets conducted strikes on 10 Iranian military targets located in and near the Strait of Hormuz. • The operation, shared via video by U.S. Central Command (Centcom) on Sunday, was launched in response to an Iranian drone attack on the vessel M/T Kiku. • These strikes signal a "vigilant, lethal, and ready" posture from the U.S. military to deter further aggression in a strategically volatile maritime region.

• Intercontinental Exchange (ICE), the owner of the NYSE, is currently trading significantly below optimistic analyst price targets. • Zacks has assigned the company a Rank 3 "Hold" rating, citing a balance between favorable growth estimates and valuation compression. • The company is facing slower-than-expected growth and integration benefits following its acquisition of Black Knight.

• Financial analysts have updated their outlooks on key AI-related companies, notably hiking price targets for Micron Technology due to strong demand for AI memory. • Market experts are expressing caution regarding the current valuation of SpaceX, suggesting potential risks associated with its high pricing. • These shifts reflect a broader trend of analysts recalibrating expectations as AI infrastructure growth accelerates while private space valuations face scrutiny.

Strikes come after retaliatory attacks on Friday following a drone strike on cargo ship in strait of HormuzThe US has struck multiple targets in Iran after strikes on Friday that were in response to a drone strike on a cargo ship a day earlier in the strait of Hormuz, US Central Command (Centcom) has confirmed.Centcom said its strikes on Saturday were in “direct response to continued Iranian aggression against commercial shipping”. The US strikes targeted “Iranian military surveillance infrastructure, communication systems, air defense sites, drone storage facilities, and minelayer capabilities”, Centcom said in a statement. Continue reading...

Strike was in response to drone attack a day earlier on a commercial vessel The US military ⁠conducted strikes ⁠against Iran ​on Friday, ⁠Central Command said in ⁠a statement, ​adding ‌that ‌US aircraft ‌struck Iranian missile and drone storage locations and ‌coastal radar sites ​after Tehran’s attack on a ⁠commercial ship ​in the ​strait ​of ​Hormuz.The US strike was in response to a drone attack a day earlier on a cargo ship in the strait, a provocation that President Donald Trump said violated the ceasefire. Continue reading...

• The European Union is targeting Amazon Web Services (AWS) and Microsoft Azure under the Digital Markets Act (DMA) to increase regulatory oversight. • This move comes as cloud infrastructure becomes an essential foundation for the rapid development and deployment of artificial intelligence. • The action aims to prevent market dominance and ensure fair competition among digital business models and infrastructure providers.

• European Union regulators are moving to designate Amazon Web Services (AWS) and Microsoft Azure as "gatekeepers" under the Digital Markets Act (DMA). • This regulatory shift targets the dominance of these cloud units to prevent unfair competition and ensure a more open market for AI and cloud services. • The move comes amid significant pushback from the tech industry, which argues that the cloud market remains highly competitive.

• GlobalFoundries is expanding its Singapore operations to serve as a primary hub for "physical AI" hardware, focusing on robotics, autonomous systems, and AI-driven infrastructure. • The chipmaker is increasing its investment in manufacturing capacity and developing next-generation semiconductor technologies to support these emerging fields. • This strategic shift aims to capture the growing demand for specialized chips that bridge the gap between digital AI and physical machinery.

• This week's international news highlights a series of diplomatic and military developments, including US-Iran talks aimed at ending their conflict and a sudden diplomatic dispute between Ukraine and Poland. • Ukraine has intensified its military operations by increasing strikes on Russian-occupied Crimea to destabilize Russian control in the region. • In political shifts, the report notes the resignation of Keir Starmer in the UK, alongside updates on the progress of the Fifa World Cup in the US.

Mayor of Manchester is coming under pressure from some to ditch net zero targets but this could be highly damaging on many levelsUK politics live – latest updatesBritain’s net zero economy is booming. The sector is worth £100bn a year to the UK, has outpaced other sectors, and supports higher-paying jobs than the average.For a union leader to suggest that the man who has overseen this impressive record – the energy secretary, Ed Miliband – would be a “noose around the neck” of job creation, as Unite’s Sharon Graham has done, might seem extraordinary. Continue reading...

• Santander has expanded artificial intelligence access to its entire global workforce of 185,000 employees. • The bank forecasts that the integration of AI will generate more than €1 billion in business value between 2026 and 2028. • This strategic move highlights the financial sector's increasing reliance on AI to drive operational efficiency and revenue growth.

Energy secretary expected to argue that UK clean economy is booming as private sector pledges over £100bn of investmentEd Miliband is to say that the UK must stick to net zero targets to deliver jobs and growth, as speculation surrounds the energy secretary’s role under a new prime minister.He will make the speech as data shows more than £100bn in green investment has been pledged by private sector companies in this parliament. Continue reading...

• Senior Congress leader Pawan Khera criticized the BJP on Monday following "Operation Tiger," a move led by ally Eknath Shinde to further weaken Uddhav Thackeray's camp. • Khera likened the current political maneuvering to "Operation Lotus" and described the actions as "dacoity" aimed at destabilizing opposition forces. • The conflict highlights the ongoing volatility within Maharashtra's political landscape and the BJP's broader strategy for a "Congress-mukt Bharat."

• Afghanistan has launched strikes against targets located within Pakistan, significantly escalating cross-border tensions between the two nations. • The attacks represent a direct threat to the fragile ceasefire currently in place, marking a volatile shift in diplomatic relations. • This escalation highlights the ongoing instability and security challenges persisting in the region under the current administration.

IDF claims continuing strikes come after Iran-backed group repeatedly violated ceasefire; JD Vance cancels trip as US-Iran talks set for Friday cancelledUS-Iran talks in Switzerland abruptly called offJD Vance tells Iran deal critics in Israel: Trump is your only ally left in the worldWelcome to our continuing live coverage of events in the Middle East.Israel’s military says it is attacking Hezbollah in several areas across southern Lebanon and has been striking throughout Thursday night.Vance lashed out at Israeli critics of the Iran deal, saying Donald Trump was Israel’s only ally left in the world, in a sharp rebuke that referenced the billions in defence aid ⁠the country receives from America. Trump “is the only head of state in the entire world ‌who is sympathetic to the nation of Israel at this ‌moment in time”, Vance told reporters.Trump said the ​US expected “a ⁠complete ceasefire on all fronts, including ⁠Lebanon, Hezbollah ​and Israel”, adding in a social media post: “We ‌encourage everyone ‌in the ‌Middle East Region to maintain their commitment to allowing our negotiations ‌to beautifully unfold.”Iran’s supreme leader said he approved the deal with the US despite having a “different view”, without elaborating. Ayatollah Mojtaba Khamenei said in message read on state television: “In principle, I had a different view [about the memorandum of understanding], but I issued my permission due to the commitment that the honourable [Iranian] president, as the chairman of the Supreme National Security Council, gave me on behalf of himself and other members to protect the rights of the Iranian nation and the resistance front.”In Khamenei’s message on Thursday – his first reaction to the Iran-US deal – he claimed Trump had “used all kinds of levers” to secure the deal “out of desperation”. The US president has claimed the agreement is a victory for Washington and averts a “worldwide depression”.Iran announced plans to introduce a system of maritime fees in the strait of Hormuz after the 60-day period of negotiation triggered by the signing of the memorandum of understanding with the US. Tehran, claiming a historic victory over the US, said the strait was under its control and a European plan for a naval mission to escort ships though the vital waterway would not be welcome, reports Patrick Wintour.Vance said the 60-day period in which to reach a final agreement with Iran started on Thursday. That would set a deadline for the final agreement between Iran and the US as 17 August.US Central Command ended its blockade in the Hormuz strait, it announced on social media. The US naval blockade of the strait had been in effect since 13 April, with control of the waterway being a key point of conflict in the war. Marine Traffic data showed that at least seven ships had crossed the strait on Thursday.The US would restart military action and ⁠reimpose a ⁠blockade ​against Iran if it did not fulfil its commitments ⁠under the signed agreement, US defence secretary Pete Hegseth said at a meeting with Nato defence ministers in Brussels.Khamenei said in his message that he received assurances from Pezeshkian about the deal and that it would not be accepted “if the American side wants to make excessive demands”. “It is obvious that the face-to-face negotiations that will be held in the future will not mean accepting the enemy’s point of view,” he added.Pakistan’s foreign ministry said the agreement’s signing ceremony in Switzerland, which was due to take place on Friday, was cancelled as it is understood that the memorandum of understanding between the US and Iran has already been signed remotely.EU foreign policy chief Kaja Kallas said she was representing the bloc’s position on the Middle East, after Israel announced it was severing diplomatic relations over allegations she had compared the country to apartheid South Africa. Continue reading...

Charging industry and electric vehicle manufacturers say measure could cost jobs and harm UK automotive sectorThe UK government’s plans to further weaken electric car targets have provoked a furious backlash from the charging industry and the electric car brand Polestar, which would lose out from the changes.The Labour government is expected to dilute rules known as the zero emission vehicle (ZEV) mandate. Government sources have said it will reduce a target for pure electric cars from 80% of all sales by 2030 to 50%. Continue reading...

Men and Boys group of MPs addresses ‘crisis of masculinity’ and joins campaign for longer paternity leaveGovernment ministers have been urged to set targets to boost the number of male teachers in England, as backbench MPs seek to capitalise on turbulence in the Labour party to influence government policy.With the government in disarray after the shock resignation of the defence secretary this week, MPs are seizing the moment to embark on a battle of ideas, including tackling toxic masculinity, which they argue has played a role in violent anti-immigrant disturbances. Continue reading...

Keir Starmer ready to overrule Ed Miliband after warnings that manufacturers would be penalised and jobs put at riskThe UK government is poised to water down its 2030 targets for electric vehicle sales after intense lobbying by the car industry and unions.The government is preparing to consult on less ambitious targets for the transition to fully battery-powered electric cars over the rest of the decade after carmakers and unions warned that they would penalise manufacturers and put jobs at risk. Continue reading...

Trump claims strikes called off as deal is close, but Tehran denies agreement near, while legal experts question if US targets may be a war crime. Plus 20 years of Taylor Swift’s incredible influence on pop cultureGood morning. Yesterday, Donald Trump spent the day promising he was going to hit Iran harder than ever before, then announced – again – that the US and Iran were close to signing a deal. Iran’s foreign ministry dismissed the claim, and Tasnim, the semi-official Iranian news agency, wrote that “until a potential understanding is announced by Iran, any news from Trump on this matter should be dismissed”.The Iranian foreign ministry spokesperson, Esmail Baghaei, said large parts of the text under negotiation had been finalised but Iran would not compromise on its red lines. Two days of escalating attacks between the warring nations had threatened to collapse the fragile ceasefire.What is the issue around the US choice of targets in Iran? Military strikes on 10 June that damaged two water storage facilities in southern Iran may constitute a war crime, legal and military experts say. The attack on the Bemani district destroyed a key reservoir serving about 20,000 people, raising critical legal questions over whether the strike hit a valid military objective or unlawfully targeted a civilian object.Why is there a legal challenge to the method? The method has raised concerns for its apparent brutality. Eugene Smith, the first person to die by nitrogen hypoxia, thrashed and writhed on the gurney, according to witnesses. The last nitrogen execution, of Anthony Boyd, appeared to take more than 30 minutes as Boyd shuddered and gasped. Continue reading...

• A phase II trial published in Nature Medicine found that combining the drug apitegromab with tirzepatide (Zepbound) effectively preserves lean muscle mass, potentially mitigating the muscle loss known as "Ozempic butt." • Massachusetts General Hospital has established a novel vascular clinic specifically designed to provide critical care to homeless individuals to prevent amputations caused by peripheral artery disease. • KFF Health News is exploring the role of overlooked social connections as a potential preventative measure against suicide.

• The article identifies five top transfer targets for the upcoming summer window as clubs prepare for the 2026 World Cup. • Jarrod Bowen is highlighted as a potential replacement for Mohamed Salah at Liverpool to maintain offensive production after the star's departure. • Newcastle United is seeking a replacement for Anthony Gordon, while Manchester United is expected to target established Premier League talent.

• The European Union has proposed a new sovereignty package designed to reduce its strategic dependence on non-EU suppliers for critical technologies, including semiconductors, AI, and cloud computing. • Key measures include the creation of Experience and Acceleration Centres to coordinate AI adoption across member states and the implementation of a framework to assess cloud and AI sovereignty. • The initiative emphasizes the "Open Source Strategy," which aims to increase the availability of European-made alternatives for cybersecurity, internet technologies, and data-centre projects.

• Qatar has formally condemned Iranian attacks on civilian targets in Bahrain and Kuwait, labeling the actions a "grave violation" of national sovereignty. • The State asserts that these strikes breach the 1949 Geneva Conventions and international humanitarian law, specifically the principles prohibiting indiscriminate attacks on civilians. • This diplomatic response highlights the regional instability caused by unprovoked aggression and the urgent need to protect non-combatants from the consequences of armed conflict.

IPO could raise up to $75bn, giving SpaceX market value of $1.77tn as it sets up Musk for extraordinary wealthElon Musk’s SpaceX is looking to raise $75bn (£55bn) from its blockbuster stock market listing next week as the rocket company aims for the largest initial public offering ever.If the stock market launch – primed for 12 June – goes as planned, founder Musk, the world’s wealthiest person, could make history as the first trillionaire. Continue reading...

• The European Commission proposed new laws on Wednesday aimed at strengthening domestic cloud, AI, and semiconductor industries to reduce dependence on U.S. Big Tech. • This strategic "made-in-Europe" drive comes despite criticism from the U.S. government regarding the European Union's ongoing regulatory crackdowns on American technology firms. • The initiative matters as the EU seeks technological sovereignty and aims to foster a competitive internal market against giants like Microsoft, Google, Amazon, Meta, and Apple.

• The interagency Development Budget Coordination Committee (DBCC) has revised its macroeconomic growth targets to account for the economic impact of the war in the Middle East. • This follows a previous downward revision in December triggered by a slump in growth linked to a massive flood control project scandal. • The adjustment reflects the government's need to align fiscal expectations with volatile geopolitical conditions and internal governance issues.