The world in a glance.

Trump warns US will soon hit Iran ‘hard’ again

President’s remarks come after countries exchange fire following downing of American helicopter

How pandemic car shortages are still making new and used cars expensive

Pandemic-era shortages are still pushing up used car prices, and automakers learned lessons from that time that stands to keep supply tight

Trump baffles Wall Street with top dealmaker praise for Citi

A morning social media post from the president congratulates bank on a ranking it does not hold

SpaceX is launching a historic IPO — but its biggest risk has nothing to do with rockets

Elon Musk admits he “cannot predict” when his massive venture will make money, even as Starlink revenue tops $11 billion.

Social Security is on track to pay only 78% of benefits starting in 2032 if Congress doesn’t act

The trust funds backing Social Security face increased pressure, partly due to last year’s One Big Beautiful Bill Act.

My elderly mother and I own a home together. Will Medicaid force its sale?

“My sister thinks Medicaid will take the house my mom and I own together.”

These ‘nerds’ earned millions betting on space years before the SpaceX IPO made it cool

Everyday investors — like a Star Trek fan, an accountant and an engineer — buy satellite imagery, track planes and visit rocket-launch sites

How exploding investor euphoria and leveraged ETFs turned one stock-market bull cautious

A Barclays strategist explains why it’s time to turn cautious on U.S. stocks, and what it will take for him to turn bullish again.

Here are all the red flags in the SpaceX IPO

You have to give Elon Musk credit for his vision — and chutzpah.

US inflation jumped to 4.2% in May amid Middle East energy shock

Figure marks new three-year high

Social Security could face an automatic 22% cut in 2032. These 4 moves will protect your retirement.

The countdown to insolvency is accelerating — and the rules of retirement planning just broke.

Iran says 20,000 people left without water after US hits reservoir tanks

Washington says its jets targeted air defence and radar sites after Iranian forces downed American helicopter

Nike has just had its stock downgraded one day before the World Cup starts

RBC Capital Markets reduced its 12-month price target from $70 to $50.

What happened to the great rebirth of American manufacturing?

Skills shortages, shifting tariffs and complex permitting processes are major barriers

Buyer swoops in for actress Dakota Johnson’s $6 million midcentury modern gem in L.A.

“Fifty Shades of Grey” actress Dakota Johnson’s “extraordinary” midcentury modern Los Angeles retreat is already under offer—mere days after the on-screen star put the property on…

The SpaceX IPO could lead to 8% of America’s current-account deficit being refinanced in a single day

A remarkable back-of-the-envelope calculation from a currency strategist shows just how big SpaceX’s initial public offering could reverberate in global markets.

ECB moved to rein in Revolut’s ‘self-guided missiles’ in Europe

Europe’s most valuable fintech was ordered to address ‘deficiencies’ in oversight with staff encouraged to rapidly launch new financial products

US stock market to stop shrinking for first time in 23 years

Market debuts of SpaceX, Anthropic and OpenAI plus slowing buybacks could remove vital support for equities, investors warn

Wall Street’s IPO boom threatens era of shrinking US stock supply

Market debuts of SpaceX, Anthropic and OpenAI plus slowing buybacks could remove vital support for equities, investors warn

Why the world must agree to regulate AI

A technological disarmament pact between the US and China would make everyone feel more secure

Simon Kuper’s World Cup: Who will win?

Football tournament’s structure favours randomness but history suggests a western European winner

Top Goldman executive opposed David Solomon’s backing of Kathy Ruemmler

Russell Horwitz, one of few executives to raise the taboo subject, is leaving the bank

Can Germany make its trains run on time?

The country’s railway renewal is the first test of whether Europe’s largest economy can reverse years of decline

Germany’s €100bn bid to make the trains run on time

The country’s railway renewal is the first test of whether Europe’s largest economy can reverse years of decline

How SpaceX’s IPO ambitions ride on Starship’s path to Mars

Musk’s largest rocket must prove it can routinely fly before the company can deliver on its biggest promises

Chinese investors turn to digital bets for exposure to US tech IPOs

Manoeuvres highlight the lengths traders are willing to go to get exposure to hot western investments despite risks

US and Iran exchange strikes after downing of American helicopter

Tehran says it targeted American military facilities in Jordan and Bahrain following latest barrage

This proposed federal budget cut could eliminate job training for 42,000 vulnerable seniors

A job-training program for low-income older adults is set to lose funding under President Donald Trump’s proposed budget for 2027 — just as more stringent work requirements for…

Super Micro stock plunges as $7 billion equity raise overshadows booming backlog

Super Micro looks to raise equity as it faces staggering AI demand but also an intense cash burn

Steve Hilton advances to general election for California governor

David Cameron’s former adviser to face Democrat Xavier Becerra on November ballot

This stock-market strategy has cheap exposure to AI and points to an advantage for closed-end funds

The fund is diversified and has been an excellent performer, highlighting the advantages of a closed-end structure.

Micron and other memory makers are driving a ‘supercycle’ for this corner of the chip sector

Chip-equipment companies are getting unprecedented visibility into companies’ supply plans, a UBS analyst says.

AST SpaceMobile’s stock experiences rocky trading as SpaceX plans to launch its satellites into orbit

The company is developing a space-based broadband cellular network that could rival Elon Musk’s Starlink.

As LIV Golf faces a Saudi funding cliff, CEO says to take PIF 'at their word'

PIF is set to stop funding the golf league after the 2026 season, though LIV's Scott O'Neil could not guarantee that the final four tournaments will take place.

US launches strikes on Iran after downing of American helicopter

Washington says attack is ‘proportional response to unjustified Iranian aggression’

GM follows Ford by making a big energy bet — this time with an unconventional approach

GM plans to revamp its energy business and place a big bet on sodium-ion batteries just as shares of rival Ford got a boost from a similar move a few weeks ago.

Angst over SpaceX IPO adds to dive in tech stocks

Technology stocks tumbled on Tuesday, extending a swoon that began in early June, as investors anxiously await the historic SpaceX IPO later this week and retreat from hot parts…

GM eyes new battery chemistry to grow AI data center, energy storage business

GM is expanding efforts to capitalize on the expected growth of energy storage and data centers and the development of next-generation sodium-ion batteries.

Apollo hunts for Japanese life insurer to boost growth

US asset manager may face regulatory hurdles amid preference for domestic players

Taiwan’s opposition leader tells US and China not to use her country as ‘pawn’

KMT chair calls for more dialogue between Taipei and Beijing in FT interview ahead of her visit to Washington

Tech stocks dive as Friday’s incoming SpaceX IPO creates ‘bad psychology’

Technology stocks tumbled on Tuesday, extending a swoon that began in early June, as investors anxiously await the historic SpaceX IPO later this week and retreat from hot parts…

A powerful inflation storm is brewing — and your portfolio isn’t ready

Looming El Niño shock threatens to drive up global commodity prices. These investments can help protect your purchasing power.

Adobe needs a new CEO to make bold AI moves, and its choice could be revealed on Thursday

Given all the doubts around Adobe, it’s perhaps surprising that the company will likely go with an internal candidate to replace outgoing CEO Shantanu Narayen.

Pope Leo meets Trump foe Bad Bunny

Puerto Rican rapper has become a symbol of cultural resistance to US president

Sales of million-dollar homes suggest inflation is spurring the wealthy to buy now

Inflation is pulling rich buyers and struggling renters in different directions in housing market.

Novo and Lilly are competing to win the GLP-1 pill market as they prepare for Medicare coverage

Novo Nordisk and Eli Lilly bring their longtime rivalry to GLP-1 pills and prepare to make their pitch to seniors with Medicare.

As SpaceX IPO anticipation heats up, what 2026’s biggest IPOs say about investor demand

Investors are paying close attention to huge IPOs expected this year, with questions about how they may perform amid enthusiasm for AI.

Trump vows to ‘respond’ after Iran ‘shot down’ a US helicopter

American president said Tehran downed Apache aircraft over Strait of Hormuz amid fragile ceasefire

Rivian is betting on its R2 EV to turn the automaker into a household name like Tesla

The R2 SUV is meant to transform Rivian from a niche EV manufacturer that sells luxury vehicles into a more mainstream brand like U.S. EV leader Tesla.

Washington is quietly changing the rules for this vital American industry — and the timing couldn’t be worse

Congress and the White House are moving to micromanage railroads — putting a main artery of the U.S. economy at risk.