World’s largest wealth fund posts $30 billion loss after bond market turbulence
The fund has a current value of around $2.3 trillion.
Financial News
Trump asked FIFA to review Balogun’s World Cup game suspension: Reports
Folarin Balogun was surprisingly cleared by FIFA to play for the United States Men’s National Team in the World Cup against Belgium on Monday.
Iran talks on hold after fighting breaks out and Trump once again threatens annihilation
Iran says it targeted U.S. military facilities in Kuwait and Bahrain following U.S. strikes on targets in and around the Strait of Hormuz.
‘Regime change but in a velvet glove’: How Kevin Warsh has set out to remake the Fed
The first big announced changes point toward a quiet revolution, with task forces set up to rethink virtually everything done at the Fed.
U.S.-Iran accord hits early snag after Swiss talks fail to proceed as planned
Analysts reckon a lasting resolution to the Middle East conflict will take some time to materialize.
Trump and Iran’s President Pezeshkian sign memorandum aimed to end war
President Trump earlier said at the G7 summit that the memorandum of understanding with Iran “might not be the kind of document that I should be signing.”
Three Iranian tankers exit U.S. blockade for first time in months as shipowners eye Hormuz in ‘wary disbelief’
At least three Iranian tankers carrying nearly five million barrels of crude oil have exited the U.S. Navy blockade.
China economy weakens further in May as retail sales post first drop in over three years
China’s retail sales fell for the first time in more than three years in May, while urban investment contracted more than expected, adding to signs the economic slump deepened.
U.S. and Iran agree on peace deal to end the war, Trump and Pakistan say
The deal follows weeks of mixed messaging from both Washington and Tehran on the trajectory of the conflict.
Iraq and UAE race to establish alternative oil pipelines as exports through Hormuz dry up
Last week, the Iraqi cabinet approved plans to accelerate crude exports through the Kurdistan-Turkey pipeline network.