President Trump hijacked NATO's summit within hours of touching down in Turkey, threatening allies and declaring the Iran ceasefire "over" as Washington and Tehran lurched toward renewed war.
The big picture: The carefully choreographed Ankara summit unraveled into the Trump show, with the agenda quickly overtaken by the president's grudge against allies who sat out the Iran war.
The AI boom is creating a new class of shock-resistant economies.
Why it matters: Countries making the chips, servers and infrastructure behind AI are ducking the worst of the energy crises, tariffs and geopolitical turmoil.
For decades, economists looked at income, geography and natural resources to explain which countries pulled ahead.
UniCredit of Italy has increased its stake in German lender Commerzbank to 47.6% of outstanding shares and 49.65% of voting shares, after securing 17.6% via a tender offer.
Why it matters: This gives UniCredit de facto control of Commerzbank's shareholder meetings, ahead of what would be Europe's biggest bank merger in nearly two decades.
South Korea's other massive memory chipmaker, SK Hynix, plans to sell $28 billion in stock in the U.S. later this week, even as waves of volatility batter the chip shares.
Why it matters: The offering will be a major test of whether investors are still gaga for memory chip stocks.
SK Hynix's offering comes just a month after the market absorbed the enormous SpaceX IPO.
The U.K. published, after some delay,its Defence Investment Plan. It's a thoroughly Ukrainian document.
The big picture: The Russia-Ukraine war — now in its fifth year, with casualties surpassing 1.5 million people — has radically changed how conflicts are thought through, stockpiled for and fought.
Every country is taking notes.
And reporters around the world are asking the same question of generals and admirals: What lessons have you learned?
China this week test-fireda submarine-launched ballistic missile, a rare move.
Why it matters: The test delivered a dummy warhead deep into the Pacific Ocean, according to state media, allowing Beijing to flex its muscles and gauge international reaction.
Criticism quickly poured in from Australia, Japan and the U.S.
Some countries were reportedly warned of the launch ahead of time.
President Trump on Wednesday declared the ceasefire with Iran over and that while negotiations can continue, they are a "waste of time."
Why it matters: Three weeks after the U.S. and Iran signed a peace deal that Trump described as "unconditional surrender," both sides are launching fresh attacks and any sense of calm in the region has evaporated almost entirely.
