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Trump says he has called off latest threats to strike Iran

DUBAI, United Arab Emirates (AP) – U.S. President Donald Trump said Thursday he has called off new military strikes on Iran, hours after threatening to escalate the war. The president said in a social media post that he made the move “based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved.”

US producer prices spike in May in largest yearly jump since 2022

WASHINGTON (AP) – U.S. producer prices climbed last month at the fastest pace since November 2022, fueled by a surge in energy prices after the start of the Iran war. The Labor Department reported Thursday that its producer price index – which captures inflation before it reaches consumers – jumped 6.5% from May 2025.

The Trump Report: The Latest Updates

President Donald Trump on Thursday said the U.S. would hit Iran “VERY HARD TONIGHT,” threatening in a social media post to “assume total control” of Iran’s oil and gas industries, including the key Kharg Island, in the “not too distant future.”

SpaceX soars 23% and makes Elon Musk the first trillionaire

NEW YORK (AP) – Shares of SpaceX soared 23% in their Wall Street debut on Friday, making the rocket maker’s CEO Elon Musk the first-ever trillionaire. The shares opened at $150 and kept rising, reaching $166.90 around 12:.20 p.m. ET. That price gave the company a market value of $2.18 trillion.

A look at the SpaceX IPO by the numbers

Elon Musk is all about big numbers – millions, billions, even trillions – and there are plenty of them associated with SpaceX and Musk’s plans to take the rocket maker public.

Europe's central bank raises rates to fight inflation from Iran war

FRANKFURT, Germany (AP) – The European Central Bank on Thursday became the first major central bank to raise interest rates in response to the Iran war as policymakers around the world including new U.S. Federal Reserve Chair Kevin Warsh wrestle with how to confront the inflation fed by sharply higher oil prices.

US and Iran are close to a deal to end their war, officials say

ISLAMABAD (AP) – The United States and Iran are close to signing an agreement aimed at ending their war, three regional officials told The Associated Press on Friday. A senior U.S. official said the tentative deal includes terms for removing and destroying nuclear material from Iran.

Keir Starmer says he's staying put after defense secretary's departure

LONDON (AP) – British Prime Minister Keir Starmer vowed Friday that he will fight to stay in office after the sudden resignation of his trusted defense minister left his shaky leadership weakened still further. Starmer has seen the departure of several junior and senior ministers in recent weeks.

Macron once had a knack for managing Trump. The G7 may test it

WASHINGTON (AP) – The relationship between U.S. President Donald Trump and French President Emmanuel Macron started simply enough, with a handshake, nearly a decade ago. But even then, there were signs of strain in their relationship – tensions that could be on full display during next week’s G7 summit in France.

WASHINGTON (AP) – President Donald Trump on Wednesday showed how he had learned to stop worrying about inflation and simply, in his own words, “love” it. Asked about the new report that the consumer price index in May had jumped 4.2% over the last year, the president took a surprisingly optimistic tack with the challenging news.