The U.K. was once home to the developed world's worst inflation. Now, it's within striking distance of the central bank's 2% target.
Why it matters: It speaks to the different nature of inflation shocks on both sides of the Atlantic. Much of the rapid price increases in the U.K. resulted from soaring commodity costs after supplies from Russia were cut off — not strong demand, like in the U.S.
Nearly 44 million people are expected to travel over Memorial Day weekend this year, the busiest in almost 20 years,according to AAA.
The big picture: The number of Americans leaving home is projected to exceed pre-pandemic levels, meaning travelers will have to contend with traffic volumes they haven't seen in years.
The International Criminal Court's chief prosecutor requested arrest warrants for Israeli Prime Minister Benjamin Netanyahu and Hamas leaders this week for alleged war crimes and crimes against humanity during the Israel-Hamas war.
Why it matters: The warrants, if issued, would further isolate Israel and would be a significant international rebuke of Israel's military campaign in Gaza and Hamas' brutal Oct. 7 surprise attack on Israel.
Speaker Mike Johnson (R-La.) on Wednesday backed fellow lawmakers' call for the Defense Department to allow Ukraine to use U.S.-provided weapons on military targets within Russian territory
Why it matters: The Biden administration banned the use of U.S.-made weapons to strike inside Russia in an effort to keep the conflict from escalating, but some have criticized the embargo for restricting Ukraine's ability to effectively defense itself.
The U.K. will hold a general election on July 4, Prime Minister Rishi Sunak announced Wednesday, paving the way for the potential end to Conservative Party rule for the first time in 14 years.
Why it matters: Polls suggest the Conservatives are facing a potential extinction-level event after cycling through five prime ministers in the eight tumultuous years since the Brexit referendum.
Los Angeles-based investment firm Oaktree Capital Management says that it's become the new owner of Italian soccer club Inter Milan, after Chinese holding company Suning missed €395 million in loan repayments.
Why it matters: Inter Milan is among Italy's most popular and successful teams, and is sure to become a takeover target for those who view Oaktree as an accidental owner.
The United Nations stopped distributing food in Rafah because of insecurity in the southern Gaza city and a lack of supplies, the UN's agency for Palestinian refugees said Tuesday.
The big picture: People in parts of Gaza are already experiencing famine andthe entire population of the city is facing crisis levels of food insecurity or worse, according to a report from the UN's World Food Program.
Secretary of State Tony Blinken signaled the Biden administration would support bipartisan action in Congress against the prosecutor of the International Criminal Court (ICC) in response to its decision to seek arrest warrants against Israeli leaders.
Why it matters: Blinken's comments at a Senate Foreign Relations Committee hearing on Tuesday reflected the Biden administration's anger and frustration overthe prosecutor's decision.
The Israeli government on Tuesday reversed its decision to seize broadcasting equipment from the Associated Press.
Why it matters: The Israeli Ministry of Communications' decision earlier Tuesday to confiscate video and broadcasting equipment used by the AP for a live shot of northern Gaza is another point of tension between the Biden administration and the Netanyahu government.
U.S. lawmakers on Monday were unable to secure the release of five Americans arrested in Turks and Caicos on charges of illegally carrying ammunition to the tourist destination.
Why it matters: The charges carry a minimum 12-year prison sentence if convicted.
At least one person died and 71 more were injured after a Singapore Airlines flight encountered severe turbulence Monday night while flying from London to Singapore, according to multiplereports.
The big picture: Turbulence-related accidents are the most common type of incident involving air carriers, but deaths from turbulence are rare, according to the National Transportation Safety Board (NTSB).
Why it matters: Also called the axolote or ajolote, the amphibian was considered a god by the Aztecs and has long fascinated scientists in part because it is capable of regrowing limbs.
Latin American treats like Gansitos and Canelitas cookies are slowly growing their share of the U.S. snack market — and not just in Latino communities.
The big picture: The boom in these snacks comes as the purchasing power of Latino communities has been rising, and as the U.S. Hispanic population has soared in numbers and spread across the country.
Israeli officials seized broadcasting equipment belonging to the Associated Press on Tuesday, arguing it was used to provide images to Al Jazeera, whose Jerusalem bureau was shuttered earlier this month following the passage of a new foreign broadcast law.
Why it matters: Press advocates have warned that the law creates a dangerous precedent for censoring independent news outlets in the region amid the ongoing war with Hamas.
Slow decision making on the part of its allies has hindered Ukraine's ability to defend itself against Russia, Ukrainian President Volodymyr Zelensky said in an exclusive interview with Reuters on Monday.
Why it matters: Zelensky implored the U.S. and Ukraine's western supporters to become more involved in its defense by intercepting Russian missiles and other projectiles, which have have killed or injured hundreds of civilians in recent months.
A video reposted to former President Trump's Truth Social account on Monday discussing what would happen if he won the 2024 election referred to "a unified Reich."
Why it matters: Although Trump's campaign emphasized that this wasn't a campaign video and a staffer inadvertently reposted it without seeing the words, President Biden's campaign seized on it in a post to X, saying: "Trump posts a new ad foreshadowing a second Trump term that says he will create a 'UNIFIED REICH,' echoing Nazi Germany."
Pope Francis told CBS in an interview airing Monday night that the solution to record numbers of undocumented immigrants arriving at the U.S.-Mexico border was "to open the doors to migration."
Why it matters: President Biden has in response to the migrant crisis this year taken a tougher stance on the border, which Axios' Stef Kight notes has become one of Democrats' most vulnerable issues in the 2024 election cycle.
