US-Iran relations remain volatile following US strikes and renewed ceasefire talks, impacting global oil prices and leading to sanctions on crypto exchanges while China's crude imports eased supply strains.

• UK imposes sanctions on crypto exchange tied to billionaire Justin Sun — Financial Times -
• Iran’s Dream Deal: Economic Relief, No Trump Victory — Wall Street Journal -
• Iran accuses US of ‘flagrant’ ceasefire violations as back-channel talks continue — Financial Times -

• Global Oil Price Rises After U.S. Strikes in Iran Cloud Peace Deal — The New York Times Business -
• Iran starts to restore internet access after months-long blackout — Financial Times -
• US and Iran: the art of the possible — Financial Times -
• Israel steps up attacks on Hizbollah — Financial Times -
• US strikes Iranian missile sites as peace talks continue — Financial Times -
• U.S. Natural Gas Futures Gain in Early Trading — Wall Street Journal -
• Nine countries pull out of Ukraine ammunition coalition — Financial Times -
• Warsh’s complicated inheritance — Financial Times -
• Putin and Trump don’t have the cards — Financial Times -
• FirstFT: US strikes Iranian missile sites — Financial Times -
• China’s Crude Import Slowdown Eases Asia Supply Strain From Gulf Shock — Wall Street Journal -

BP's chairman was removed over conduct concerns, Dropbox's CEO is stepping down, and SpaceX's IPO filing raises questions about Elon Musk's governance, alongside JPMorgan and Mango executive changes.

• BP Removes Chairman After Concerns About Bullying Behavior — Wall Street Journal -
• FirstFT: ByteDance offers AI team special stock to combat poaching — Financial Times -
• Lawyer for Former JPMorgan Banker Resigns Ahead of First Court Appearance — Wall Street Journal -

• Dropbox Co-founder Houston to Step Down as CEO After 19 Years — Wall Street Journal -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -
• SpaceX IPO Filing Reveals Favorable Terms for Elon Musk — The New York Times Business -
• BP Ousts Chairman, Citing ‘Serious Concerns’ Over Conduct — The New York Times Business -
• Mango Founder’s Son Steps Down Amid Homicide Probe — Wall Street Journal -
• Mango heir Jonathan Andic stands down over probe into father’s fatal fall — Financial Times -
• SpaceX to drive a Cybertruck through corporate governance norms — Financial Times -
• Apple has an innovation gap. Will its new CEO fill it? — Financial Times -

ByteDance is offering special stock to retain AI talent, OpenRouter secured significant funding, the Vatican issued a warning on AI ethics, and ECB policymakers highlighted risks from private credit fueling the AI boom.

• FirstFT: ByteDance offers AI team special stock to combat poaching — Financial Times -
• OpenRouter, an Exchange for A.I. Models, Raises $113 Million — The New York Times Business -
• UK law firm Pinsent Masons reprimanded by court over AI error — Financial Times -

• Groupon to Cut Nearly a Quarter of Workforce in Restructuring — Wall Street Journal -
• The Vatican Takes on Silicon Valley With an A.I. Warning — The New York Times Business -
• ECB says private-credit fuelled AI boom poses risk to financial system — Financial Times -
• ByteDance offers AI team special stock to fend off poaching — Financial Times -
• AI and the brave new world of deals — Financial Times -
• The First Class of AI Natives Is Graduating. Offices Are Getting Ready. — Wall Street Journal -

ECB officials anticipate a June rate hike amid warnings of higher energy prices, deregulation boosted major US and UK banks, while real wages are shrinking and companies are gearing up for price increases.

• Opinion | Jeff Bezos Earned His Fortune — Wall Street Journal -
• G.D.P. Is a Flawed Measure of Prosperity. Alternatives Are On the Way. — The New York Times Business -
• Top ECB policymakers lay groundwork for June rate rise — Financial Times -

• Warsh’s complicated inheritance — Financial Times -
• Deregulation hands top US and UK banks $1.3tn — Financial Times -
• US car dealers face backlash over practices as prices surge — Financial Times -
• Fewer households should be exempt from energy bills, says regulator — Financial Times -
• FirstFT: US strikes Iranian missile sites — Financial Times -
• More takeaways from an S-1 for the ages — Financial Times -
• Stocks’ unshakeable optimism — Financial Times -
• Companies are gearing up for price increases — Financial Times -
• Real wages start to shrink in developed countries — Financial Times -
• India’s bizarre $500bn ‘commitment’ in trade deal with US — Financial Times -

NASA is adding rovers to its Moon base plan, American Airlines will offer Starlink internet, while Delta aims to improve operations after flight cancellations and Airbus supply snarls delayed Qantas flights.

• NASA’s Moon Base Plan Adds Two Rovers for Its Astronauts — The New York Times Business -
• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• SpaceX IPO Filing Reveals Favorable Terms for Elon Musk — The New York Times Business -

• American Airlines to Offer Starlink Internet on Flights — Wall Street Journal -
• Delta’s Flight Cancellations Have Mounted, and It’s Staffing Up to Improve — Wall Street Journal -
• How Delta Steered Around Airline Industry Chaos — The New York Times Business -
• Airbus Supply Snarls Push Back Qantas’s Plans for Nonstop Flights to London, New York — Wall Street Journal -
• SpaceX to drive a Cybertruck through corporate governance norms — Financial Times -
• Major European airlines exposed to €1.5bn-plus in carbon costs, analysis shows — Financial Times -

Ferrari unveiled its first electric car, Luce, sparking debate over its design, AutoZone reported slowing sales growth due to cool weather, and US car dealers face backlash over practices amid surging prices.

• Launch of Ferrari’s $640,000 EV Erupts Into a Storm About Its Looks — Wall Street Journal -
• AutoZone Says Cool Weather Led to Slowing Sales Growth — Wall Street Journal -
• Ferrari Unveils Luce, Its First Fully Electric Car — The New York Times Business -

• Xiaomi’s Profit Buckles as Memory Prices Soar — Wall Street Journal -
• Ford’s convenient comp comp — Financial Times -
• US car dealers face backlash over practices as prices surge — Financial Times -
• Ferrari Launches $640,000, Jony Ive-Designed, Glass-Clad Electric Speedster — Wall Street Journal -

UK and Europe shattered heat records in May, Reform UK leaders clashed over immigration, while Tony Blair criticized Labour's leftwing policies and EU capitals spoke out on Chinese trade retaliation.

• Tony Blair criticises Labour’s Andy Burnham for leftwing ‘delusion’ — Financial Times -
• UK and Europe shatter heat records in ‘mind-boggling’ May — Financial Times -
• Senior Reform UK figures clash over immigration plans — Financial Times -

• Fewer households should be exempt from energy bills, says regulator — Financial Times -
• European and UK temperatures swing by as much as 15C as ‘whiplash’ hits — Financial Times -
• Why major EU capitals are speaking out on Chinese trade retaliation — Financial Times -
• Leaving ECHR would jeopardise UK national security, say centrist Tories — Financial Times -
• Three ways a new Labour leader could change the politics of growth — Financial Times -
• UK could join €4bn EU start-up fund this year, top official says — Financial Times -
• How the EU’s plan to turbocharge Italy’s economy fell flat — Financial Times -
• Top European wind turbine maker calls ‘non-western’ rivals a security threat — Financial Times -
• Spain entices immigrants to remote villages — Financial Times -
• There are more important things to consider when moving countries than tax — Financial Times -
• Bond Street’s loss is Sloane Street’s gain in London’s luxury retail landscape — Financial Times -

Eli Lilly plans to acquire three vaccine developers for up to $4 billion, renewing focus on infectious disease prevention, as autism clinics face scrutiny over Medicaid billing practices.

• Short Naps, Long Hours: How Autism Clinics Squeeze Medicaid Dollars Out of Preschoolers — The New York Times Business -
• Eli Lilly to Buy 3 Vaccine Developers — The New York Times Business -
• Lilly Agrees to Buy Trio of Vaccine Developers — Wall Street Journal -

Peacock's 'Love Island' emerged as a streaming hit, Polymarket and Kalshi faced a Spanish ban over gambling laws, and a mother is fighting a massive data center development near her home.

• How ‘Love Island’ Became the Streaming Hit Peacock Needed — Wall Street Journal -
• Polymarket, Kalshi Face Spanish Ban — Wall Street Journal -
• Opinion | Notable & Quotable: Justice Brennan’s Tenure — Wall Street Journal -

• You Can’t Stop This Data Center, a Mom Was Told. She Won’t Quit. — The New York Times Business -
• Opinion | The Return of State-Backed Media — Wall Street Journal -
• Venture Fund Launches $200 Million Bet on U.S. Maritime Revival — Wall Street Journal -
• Turning Neets into engineers — Financial Times -
• Kingfisher Like-for-Like Sales Fall Despite Tool Business Boost — Wall Street Journal -
• America’s most exciting jazz scene is in Chicago — Financial Times -
• ‘Epstein class’ becomes a populist battle cry in US politics — Financial Times -
• The bumbling cop accused of linking South Africa’s mob with the state — Financial Times -