**Trump's threat to hit Iran ‘extremely hard’ escalated tensions, impacting oil prices and global energy supplies, leading to fuel surcharges by Amazon and JetBlue, causing mortgage rates to climb, and seeing South Korean defense exports showcase strength** as rival nations seek to counter US pressure.
The Trump administration unveiled new tariffs on branded drugs and metals, with Attorney General Pam Bondi ousted, the President affirming military over social spending priorities, and his media-bashing cited in court rulings, while a US-UK 'special relationship' and the lifting of sanctions on Venezuela's new leader also made news.
**M&S demanded urgent action on UK shoplifting, Hershey's promised real chocolate after consumer backlash, SpaceX planned a significant IPO, and Tesla's sales rose due to high gas prices but still missed expectations, while Air France-KLM bid for TAP, Saks Global secured a bankruptcy exit deal, and Bed Bath & Beyond acquired The Container Store**.
OpenAI acquired the tech talk show TBPN in a move beyond "side-quests", Microsoft launched a new mid-class AI model, while AI's societal threats like job losses and inequality were debated, and Europe pushed for a gentler internet for children amidst the revival of fashion-tech wearables.
Blue Owl faced massive redemption requests highlighting private credit woes, **hackers stole $280 million from crypto exchange Drift, the ECB's emergency pandemic stimulus unwound, and the US Treasury called regulators to discuss private credit risks, while Italy fined Revolut for misleading trading adverts, and India's central bank tightened rules to prevent rupee shorting**.
Labour leader Starmer faced political challenges and EU relations pressure, a fighter jet project with Italy and Japan saw its first contract, while Ian Cheshire was a favourite for Ofcom chair, and concerns arose about UK house prices surviving economic shocks and Thames Water fines being waived.