Bloomberg Wall Street Week: Critical Thinking
This week, how will the United States' involvement in the Iran-Israel war affect markets and hopes for cooperation in the Middle East? And, an interview with the Director of the Congressional Budget Office on the agency's role in predicting the fiscal impact of the "Big Beautiful Bill." Plus, will President Trump's "Gold Card" attract foreign investment to the US? Later, how Zohran Mamdani's success in the New York City mayoral primary election tells the story of the shift within the Democratic party and what it means for business in the city.
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Yahoo
25 minutes ago
- Yahoo
Iran holds state funeral for top brass slain in war with Israel
Iran will hold a state funeral service Saturday for around 60 people, including its military commanders, killed in its war with Israel, after Tehran's top diplomat condemned Donald Trump's comments on supreme leader Ali Khamenei as "unacceptable". The United States had carried out strikes on three Iranian nuclear sites last weekend, joining its ally Israel's bombardments of Iran's nuclear programme in the 12-day conflict launched on June 13. Both Israel and Iran claimed victory in the war that ended with a ceasefire, with Iranian leader Khamenei downplaying the US strikes as having done "nothing significant". In a tirade on his Truth Social platform, Trump blasted Tehran Friday for claiming to have won the war. He also claimed to have known "EXACTLY where he (Khamenei) was sheltered, and would not let Israel, or the U.S. Armed Forces... terminate his life". "I SAVED HIM FROM A VERY UGLY AND IGNOMINIOUS DEATH, and he does not have to say, 'THANK YOU, PRESIDENT TRUMP!'" the US leader said. Trump added he had been working in recent days on the possible removal of sanctions against Iran, one of Tehran's main demands. "But no, instead I get hit with a statement of anger, hatred, and disgust, and immediately dropped all work on sanction relief, and more," Trump said. Hitting back at Trump Saturday, Iranian Foreign Minister Abbas Araghchi condemned the Republican president's comments on Khamenei. "If President Trump is genuine about wanting a deal, he should put aside the disrespectful and unacceptable tone towards Iran's Supreme Leader, Grand Ayatollah Khamenei," Araghchi posted on social media platform X. "The Great and Powerful Iranian People, who showed the world that the Israeli regime had NO CHOICE but to RUN to 'Daddy' to avoid being flattened by our Missiles, do not take kindly to Threats and Insults." The Israeli strikes on Iran killed at least 627 civilians, Tehran's health ministry said. Iran's attacks on Israel killed 28 people, according to Israeli figures. - 'Historic' state funeral - The state funeral proceedings in Tehran for 60 nuclear scientists and military commanders killed in Israeli strikes are set to begin at 8:00 am (0430 GMT) at Enghelab Square. It will be followed by a funeral procession to Azadi Square, about 11 kilometres (seven miles) across the sprawling metropolis. Mohsen Mahmoudi, head of Tehran's Islamic Development Coordination Council, vowed it would be a "historic day for Islamic Iran and the revolution". Among the dead is Mohammad Bagheri, a major general in Iran's Revolutionary Guards and the second-in-command of the armed forces after the Iranian leader. He will be buried alongside his wife and daughter, a journalist for a local media outlet, all killed in an Israeli attack. Nuclear scientist Mohammad Mehdi Tehranchi, also killed in the attacks, will be buried with his wife. Revolutionary Guards commander Hossein Salami, who was killed on the first day of the war, will also be laid to rest after Saturday's ceremony -- which will also honour at least 30 other top commanders. Of the 60 people who are to be laid to rest after the ceremony, four are children. - 'Imminent threat' - During his first term in office, Trump pulled out in 2018 of a landmark nuclear deal -- negotiated by former US president Barack Obama. The deal that Trump had abandoned aimed to make it practically impossible for Iran to build an atomic bomb, while at the same time allowing it to pursue a civil nuclear programme. Iran, which insists its nuclear programme is only for civilian purposes, stepped up its activities after Trump withdrew from the agreement. After the US strikes, Trump said negotiations for a new deal were set to begin next week. But Tehran denied a resumption, with leader Khamenei vowing Thursday never to yield to US pressure and insisting that Washington had been dealt a humiliating "slap". "The American president exaggerated events in unusual ways, and it turned out that he needed this exaggeration," Khamenei said, rejecting US claims Iran's nuclear programme had been set back by decades. Israel had claimed it had "thwarted Iran's nuclear project" during the 12-day war. But its foreign minister reiterated Friday the world was obliged to stop Tehran from developing an atomic bomb. "Israel acted at the last possible moment against an imminent threat against it, the region and the international community," Gideon Saar wrote on X. "The international community now has an obligation to prevent, through any effective means, the world's most extreme regime from obtaining the most dangerous weapon." bur-tc/dhc
Wall Street Journal
29 minutes ago
- Wall Street Journal
Taiwan Looks to New Sea-Drone Tech to Repel China
SUAO, Taiwan—Taiwan is accelerating efforts to develop a high-tech fleet of naval drones that military planners see as a potential game-changer in the island's ability to fend off a possible Chinese invasion. Drones are transforming warfare and spurring military strategists to rethink long-held assumptions about defense. Both Ukraine and Israel have used drones to devastating effect in recent weeks.
Fox News
an hour ago
- Fox News
Iran warns of 'real capabilities' if Trump doesn't drop 'disrespectful' tone toward supreme leader
Iranian Foreign Minister Abbas Araghchi warned President Donald Trump Friday to drop what he called a "disrespectful" tone toward Tehran's supreme leader or face serious consequences. In a blunt post on X, Araghchi said if Trump truly wants a deal with Iran, he must show respect instead of insulting Ayatollah Ali Khamenei. Araghchi wrote that Trump should "put aside the disrespectful and unacceptable tone" toward Khamenei and "stop hurting [Khamenei's] millions of heartfelt followers." Araghchi wrote, "The complexity and tenacity of Iranians is famously known in our magnificent carpets, woven through countless hours of hard work and patience. But as a people, our basic premise is very simple and straightforward: we know our worth, value our independence, and never allow anyone else to decide our destiny." Araghchi's most provocative line came as he mocked Israel's reliance on the U.S. during the recent military confrontation. "The Great and Powerful Iranian People, who showed the world that the Israeli regime had NO CHOICE but to RUN to 'Daddy' to avoid being flattened by our Missiles," he wrote, referring to U.S. intervention in striking Iranian nuclear sites. The jab was a pointed reference to the longstanding U.S. and Israeli alliance and a not-so-subtle attempt to portray Israel as weak and dependent. The post concluded with a clear threat. "If Illusions lead to worse mistakes, Iran will not hesitate to unveil its Real Capabilities, which will certainly END any Delusion about the Power of Iran. Good will begets good will, and respect begets respect." Araghchi's broadside comes just days after the war between Iran and Israel ended and less than a week after U.S. airstrikes ordered by Trump destroyed Iran's key nuclear sites of Fordow, Natanz and Isfahan. The 12-day conflict ended June 24 under a U.S.-brokered ceasefire, yet postwar tensions remain high. Khamenei declared that Tehran had beaten Israel and even dealt Washington a "slap" in the confrontation. Trump rejected Khamenei's victory claims as false and "foolish." He promptly froze any talk of sanctions relief for Iran in response and claimed he personally stopped Khamenei from being killed during the conflict, writing on Truth Social that he refused to let U.S. or Israeli forces "terminate" the ayatollah despite knowing his secret location. Araghchi also rejected President Trump's recent claim that new nuclear talks were imminent, telling reporters that "there are no negotiations underway" and that Tehran would make decisions "based on our national interests." According to Reuters, the foreign minister flatly denied any plans to meet with U.S. officials next week, contradicting Trump's earlier remarks suggesting diplomacy was back on track. "I wish the leadership of Iran would realize that you often get more with HONEY than you do with VINEGAR," wrote Trump on Truth Social. "PEACE!!!" The White House did not immediately respond to Fox News Digital's request for comment.
