Axios

Look out below: The yen is hovering near its weakest level in almost 40 years, reflecting an increasingly lopsided global economy, where capital keeps flowing to the U.S.

Why it matters: The yen is being squeezed by both long-term and short-term forces.

The White House and the Israeli Prime Minister's Office are discussing a potential Oval Office meeting between President Trump and Prime Minister Benjamin Netanyahu next week, but no meeting has been set yet, a White House official and an Israeli source familiar with the issue told Axios.

Why it matters: Trump is considering resuming major combat operations in Iran that would likely include a joint military campaign with Israel similar to the launch of Operation Epic Fury on Feb. 28. A meeting with Netanyahu could be significant for Trump's decision-making and for coordination between the countries.

China has poured billions of dollars into the stock market in recent days to snuff out a tech-led selloff, as it seeks to shore up confidence in the domestic economy.

Why it matters: It's a reminder that despite its prowess as an exporter of goods — and increasingly, AI technology — China remains dependent on exports for growth.

LONDON — The U.K. is betting big on drones and robo-wingmen, assigning a growing number of existing and in-development machines to spying, jamming and bombing roles.

Why it matters: The maturation of artificial intelligence and autonomy has sparked a global sprint to build and deploy hybrid fleets no matter the domain.

OpenAI and Anthropic compete fiercely for customers. But in Washington, the two leading AI labs are aligning on one issue: warning policymakers about the risks of powerful Chinese open-weight AI models.

Why it matters: That shared position pits the top U.S. AI labs against researchers, startups and open-model advocates who argue broad access to AI is essential for competition and scientific progress.

Sunday's FIFA World Cup final drew more than 62.8 million viewers in the U.S., making it the most-watched World Cup final and soccer telecast in American history.

Why it matters: The record audience underscores soccer's growing popularity in the U.S. and is likely to boost the value of future media rights.

President Trump is invoking an unused provision of the 1930 Smoot-Hawley Tariff Act to impose additional tariffs on Canada over alleged discrimination against U.S. exports.

Why it matters: As the Supreme Court limits Trump's ability to wield tariffs and a temporary tariff stopgap expires, the president is turning to a rarely used tariff authority.

President Trump said Tuesday that the U.S. military will bomb Iran's Pickaxe Mountain, a deep underground site that the U.S. and Israel suspect could be used for nuclear activity.

Why it matters: Trump's remarks, at the top of his meeting with the president of Lebanon at the White House, signaled that he is not interested in a ceasefire at the moment and is moving towards escalating the strikes on Iran.

LONDON — Canada has joined the Global Combat Air Program as an observer, aligning with the British, Italians and Japanese on a potential sixth-generation stealthy warplane.

Why it matters: Canada could be moving away from the American arsenal, as it suggested in its first-ever defense-industrial strategy. Or it could be seeking the insights and prestige that come with such a sophisticated — but still in-the-works — aircraft.

Three months into the Iran war, bond market traders are tuning out President Trump's posts on his personal social media site, Truth Social, analysts say.

Why it matters: Researchers from JPMorgan show that for the most part, his social media posts are noise, with very little ability to move the market.