Axios

Andy Burnham is the U.K.'s seventh prime minister in a decade, inheriting an economy constrained by weak growth, high debt and years of political turmoil.

Why it matters: Burnham is promising to remake Britain's economy just as growth has stalled, inflation remains elevated and public finances are stretched.

WASHINGTON – America's next chapter hinges on how it navigates global conflict while sustaining confidence at home, speakers said at Axios House D.C.

Why it matters: As the nation commemorates 250 years of independence, questions about U.S. leadership abroad, public optimism and economic growth are becoming increasingly intertwined.

Axios' Mike Allen, Nathan Bomey, Hans Nichols and Courtenay Brown hosted conversations with Sen. Bill Hagerty (R-Tenn.), Gallup global managing partner Joe Daly, Washington Commanders president Mark Clouse and Rep. Madeleine Dean (D-Pa.). The July 15 event was sponsored by Bank of America.

What they're saying: The Iran conflict won't be a "forever war," Hagerty said.

• "The Iranian regime is in shambles right now," he said.

Yes, but: Dean said she believes Israeli Prime Minister Benjamin Netanyahu convinced President Trump "to go to this reckless war of choice in Iran."

• She also said she does not trust Netanyahu and thinks he's "lied to our faces" about targeting strategies and casualties in the Gaza war.

Despite global tensions, the "American spirit is alive," Daly said, referring to recent findings from the Milken Center for Advancing the American Dream-Gallup American Dream Study.

• "The vast majority [78%] of Americans think that they themselves will achieve the American dream, and they think that it is a worthy thing to strive for," Daly said.

By the numbers: One industry that's experiencing huge economic growth is sports. NFL team valuations have been skyrocketing, with the Seattle Seahawks reportedly being acquired for $9.6 billion.

Zoom in: Clouse said soaring NFL team valuations are sustainable, pointing to the audience demand – 23 of the 25 most-watched telecast programs in 2025 were NFL games.

Content from the sponsor's segment:

In a sponsored conversation, Bank of America chair and CEO Brian Moynihan said consumer spending increased roughly 6% in the second quarter compared to last year, leading him to predict that the economy will grow by at least 2% this year.

• "Affordability is a real issue," he said. However, he added, "what people are doing is still spending money, and that's good for the U.S. economy in the broadest context."

Go deeper: Watch the full event.

Even the "cheap seats" at most World Cup games were expensive, with last-minute prices reaching thousands of dollars for some matches.

The big picture: Get-in prices ranged from just over $300 for a group-stage match in Atlanta to nearly $7,500 for Sunday's final in East Rutherford, N.J.

The boom that powered semiconductor stocks to record-setting heights just last month is now sputtering.

Why it matters: Chipmakers are the picks and shovels of the AI gold rush, and they are now looking shaky.

• A recent selloff, combined with new stress over competition from Chinese open-source AI models, is raising concerns over the durability of the AI trade more broadly.

Just when Republicans thought they'd caught a break on gas prices, the collapse of President Trump's Iran deal is derailing their best chance to change the inflation story before the midterms.

Why it matters: Falling gas prices are one of the most tangible ways to ease voter anger over inflation. Renewed combat — and the threat of escalation — has prices shooting back up.

Two U.S. service members were killed and more wounded in an Iranian ballistic missile attack on an airbase in Jordan on Saturday, military officials said.

The big picture: This is the first time U.S. troops have been killed since the fighting resumed two weeks ago. The incident raises the number of U.S. service members killed in the war to 16.

Iran's Supreme Leader Mojtaba Khamenei on Saturday issued a belligerent statement accusing President Trump of violating the U.S.-Iran agreement and pledging a strong response by Iran and its proxies if the fighting continues to escalate.

Why it matters: Khamenei's statement came as renewed hostilities between the U.S. and Iran reached an eighth consecutive day. Both sides are heightening their attacks and expanding the scope of their targets.

Live shopping is projected to more than triple in the U.S. by the end of the decade as retailers, creators and streaming platforms embrace the format.

Why it matters: After years of failed attempts to replicate China's livestream shopping boom, the U.S. market is finally gaining momentum.

China's latest AI breakthrough is forcing Silicon Valley to confront a terrifying possibility: Building the world's smartest models may no longer be enough to win.

Why it matters: Chinese labs like Moonshot AI are cornering the market for cheap, customizable intelligence, threatening to turn America's prestige models into expensive niche products.

The latest NATO summit, held in Turkey this month, may be most remembered not for politicking and posturing, but for sideline dealmaking.

The big picture: The Ankara get-together concluded with more than $50 billion in new procurements on the books, according to the alliance's readout, as well as a handful of agreements to expand weapons production across borders.

• "One thing is clear: The money is there, and much more is coming. But this cash must be put to work," NATO boss Mark Rutte said at a defense-industrial-base forum that coincided with the summit.