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Our Expert Voices conversation on what comes next in Iran vs. Saudi Arabia.

Saudi Arabia has succession well in hand. Iran, on the other hand, has designated no successor to the Supreme Leader and is riven by deep political divisions united only in the belief that the perpetuity of their rule is contingent on exporting the Islamic Revolution.

Lacking his predecessor Ayatollah Khomeini's charisma and stature, Iran's Ayatollah Khamenei consolidated his rule by placing loyal supporters of the Islamic Revolution in all branches of government and granting the Revolutionary Guard unprecedented economic and political power. These transformations yielded a sectarian-driven expansionist and interventionist foreign policy, the continuity of which vouchsafes the legitimacy of any Supreme Leader.

The bottom line: Saudi Arabia has already had its succession and is forging ahead with needed reforms. With no clear successor, Iran's factions will vie with one another to escalate sectarian policies abroad in order to build revolutionary credentials for the next Supreme Leader at home.

Other voices in the conversation:

Go deeper

Erica Pandey, author of @Work
2 hours ago - Economy & Business

What's really going on with the labor market

Source: YCharts

The labor market is showing some signs of improvement: Jobless claims fell to 730,000 — a dramatic drop from 841,000 the previous week. And the latest jobs report showed a pandemic-era low unemployment rate of 6.3%

But, but, but: That's not the full story, experts say.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Markets see rare convergence milestone

Expand chart
Data: YCharts; Chart: Axios Visuals

A milestone was reached in the markets Thursday: The yield on the 10-year Treasury note rose to match the dividend yield on the S&P 500

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3 hours ago - Economy & Business

First look: Business puts muscle behind Biden

Business Roundtable, the voice of America's top CEOs, today launched "Move the Needle," a campaign to support President Biden in rolling out COVID vaccines, increasing vaccine uptake and encouraging masks.

What they're saying: "Masks and vaccines are working. Now is the time to keep at it, overcome pandemic fatigue, and double down on the measures that will end this public health and economic crisis, said Business Roundtable president and CEO Josh Bolten.