After threatening on Saturday to strike Iran’s power plants within 48 hours unless the Islamic Republic reopened the Strait of Hormuz, US President Donald Trump said on Monday morning he would postpone the attacks for at least five days after he held “productive conversations” with Tehran. But Iran denied that there was any direct communication – a US source reportedly told Axios said the talks took place via Turkish, Egyptian, and Pakistani intermediaries. Whether Trump’s announcement tangibly changes the course of the war is one thing – Tehran still may not allow boats to peacefully pass through the Strait of Hormuz. In the short term, however, Trump’s comments prompted oil prices to fall 10% and US stocks to jump more than 2%. Some financial analysts speculated that calming these markets was the real aim of Trump’s announcement.
Eight states are urging a US judge to block a $3.5 billion merger between local television station owners Nexstar and Tegna. Their concern? The deal would put 80% of US TV households under their control. On Thursday, the Federal Communications Commission announced it had waived a rule that prohibits television station owners from reaching more than 39% of households. California, Colorado, Illinois, Oregon, New York, North Carolina, Connecticut, and Virginia are trying to stop the deal because they fear it will allows the companies to wield unprecedented broadcasting power. FCC Chair Brandon Carr contends that this gives local news channels the power to rival major national broadcasters like Comcast-owned NBC and the Walt Disney Company’s ABC.
Between the groundedflights, shutairports in the Middle East, and the spiking cost of jet fuel, the airline industry is suffering as a result of the Iran war. More than $50 billion has been wiped off the value of the world’s largest airline carriers. Europe and Africa are especially affected, with each continent getting 40% and 70% of its jet fuel, respectively, via the Strait of Hormuz. Meanwhile, the United States is experiencing air travel issues of its own. Security lines are snaking around airports across the country, as Transportation Security Administration employees go unpaid due to a DHS funding shutdown. Trumpsaid he will deploy ICE officials to fill the gaps at security turnstiles.
Is AI advancing faster than our ability to regulate it? At the 2026 US-Canada Summit in Toronto, hosted by Eurasia Group and RBC, Ian Bremmer says the biggest issue with AI is not the technology itself, but the lack of governance keeping pace with its rapid development and rollout.
The interim agreement to end the war, signed by both sides on Wednesday, appears to tilt toward Iran. But the regime remains vulnerable.
On June 14, the US and Iran announced a deal to end the war. A signing ceremony is set for Friday. The terms include an immediate ceasefire on all fronts. With both sides spinning the deal as a victory, there are plenty of ways for this to go wrong.
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