Greenland remains part of Denmark "for now," Secretary of State Marco Rubio said during a Wednesday House hearing — a nod to President Trump's repeated threats to take over the allied island.
The big picture: Rubio's comment comes after Trumprenewed his favored jab at Canada as the "51st State." Those musings reflect the Trump administration's broader assertion of global power that's antagonized friends and foes alike.
The Iran war has divided the global outlook into two tracks:
A modest slowdown if the conflict ends soon or a severe hit, with some economies near recession, if it drags on and the disruption deepens.
Why it matters: Either path leaves the global economy worse off than before the war, with slower growth and hotter inflation. The scenarios determine the scale of the damage.
DeepSeek is raising around $7.4 billion at around a $52 billion valuation from investors like Tencent and CATL, according to Bloomberg.
Why it matters: This is a reminder that America's AI trinity faces viable competition from China, particularly as enterprise customers try to control token costs.
President Trump confirmed on Wednesday that he sharply criticizedIsraeli Prime Minister Benjamin Netanyahu over Lebanon during a tense call, as Axios first reported.
Why it matters: Trump's confirmation signals a widening dividebetween the two leaders, over both the fighting in Lebanon and the war with Iran.
The U.S., U.K. and Australia will together develop interchangeable sensors and weapons for their uncrewed underwater vessels.
Why it matters: It's the first "signature" undertaking for AUKUS Pillar II, the autonomy, cyber, electronic warfare and quantum side of the trilateral pact so often associated with submarines.
HSINCHU, TAIWAN — Taiwan's space agency wants to improve abilities to monitor Chinese maneuvers in space out of concern that acts of aggression could go undetected.
Why it matters: Space and satellites are essential to everyday life: financial markets, navigation, weather predictions, communication. They're also critical to military operations, enabling long-range strikes and surveillance.
But if a Chinese satellite "is doing some spooky things on our satellite, it's really hard for us to" actually observe it in time, a Taiwanese official told reporters during a tour of the Taiwan Space Agency's facilities and assembly line.
U.S. and Iranian forces exchanged strikes Tuesday as peace talks remained stalled and tensions escalated across the Middle East.
The big picture: The confrontation widened beyond direct exchanges, with U.S. forces intercepting Iranian missiles and drones and striking targets near the Strait of Hormuz.
Analysts are starting to wonder if the world needs less oil than they thought it did when the Iran war started.
Why it matters: Decades ago, a global oil shock triggered permanent changes to the structure of the global economy, and signs are now emerging that it's happening again.
This is the chart that White House economic officials want you to see: A closely watched industry survey suggests a long U.S. manufacturing slump is giving way to a factory rebound.
Why it matters: By this measure, the manufacturing recession is over. Activity across the sector expanded for a fifth straight month in May after spending much of the last two years in contraction territory.
