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The Latest Breaking News from Axios

Trump admin agrees to temporarily freeze 'slush fund' for allies

WASHINGTON (UNITED STATES) - The Justice Department said Monday it will abide by a court order temporarily freezing a $1.8 billion compensation package that critics have denounced as a "slush fund" for President Donald Trump's political allies.

Bangkok Post

Microsoft’s own data suggests AI is more expensive than hiring humans, as a mystery firm burns USD 500 million on Claude in one month

Microsoft data shows AI costs surpass payroll, with a $500 million Claude fiasco proving how expensive automation can get.

Windows Central

Nvidia Unveils Open World Model For Robots, Autonomous Vehicles

Nvidia introduced Cosmos 3, an open world model designed to help robots, autonomous vehicles and other physical systems better understand, simulate and navigate real-world environments.

International Business Times

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Could Vibe Coding Put Your Retirement Portfolio at Risk?

With more financial pros potentially turning to AI "agents", your private tax data — and nest egg — might be resting on a foundation of unverified code.

Kiplinger

Trump Seeks Tweaks To US-Iran Ceasefire Pact Draft

The draft memorandum of understanding has provided for a pledge from Iran not to pursue a nuclear weapon, but specific concessions have not been woven in.

International Business Times

Iran-US war latest: Israel captures 900-year-old castle in deepest incursion into Lebanon in 26 years

Senior Iranian official accuses Donald Trump of 'betraying diplomacy for third time'

The Independent UK

Trump says Iran has agreed there will be ‘no nuclear weapons’ as deal draws closer

President Trump indicated a peace deal with Iran is nearing completion, emphasizing that any agreement must guarantee no nuclear weapons. While military action remains an option, he expressed hope for a satisfactory deal that could immediately reopen strategic straits. Trump stated negotiations are progressing slowly but surely, with the US…

The Economic Times

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Trump Admin Renames Iran's $300 Billion Reparations Demand an 'Investment Fund' to Avoid a Political Firestorm at Home

A draft US-Iran agreement reportedly includes a £224 billion ($300 billion) investment fund for Iran's reconstruction, with officials avoiding the term 'reparations.' The deal has not yet been signed by President Trump.

International Business Times UK

Man Reads 'Leaked' AutoZone Memo. Then He Stocks Up: 'I Have 30 Cases On Hand'

"They had a meeting about this..."

Motor1

CEOs Lose Confidence In Economy As Head Winds Drag On: Report

CEO confidence fell sharply in the second quarter, dropping 12 points to 47, according to a survey from The Conference Board and The Business Council.

International Business Times

Americans Are Spending Faster Than They Earn As Savings Rate Falls, Figures Show

Consumer spending rose in April even as disposable personal income fell, suggesting many Americans are no longer spending from strength but from savings.

International Business Times

Mystery company accidentally blew $500 million on Claude AI in a single month — failed to put usage limit on licenses for employees

A new report cites an AI consultant claiming a client accidentally spent $500,000,000 on Claude in a single month.

Tom’s Hardware

'Very close': JD Vance says US nears agreement on Strait of Hormuz, Iran nuclear setback

US Vice President JD Vance said Washington is "very close" to achieving a broader strategic agreement in West Asia, asserting that recent US actions will reopen the Strait of Hormuz, weaken Iran's conventional military capabilities, and position the United States to significantly delay Tehran's nuclear programme.

The Economic Times

US-Iran truce deal awaits Trump as strikes test ceasefire

US and Iranian negotiators edged toward a deal to extend their fragile ceasefire for 60 days, but the potential breakthrough was still hanging on President Donald Trump'on Thursday. Late on Thursday, US Vice President JD Vance told reporters that Trump was not yet ready to approve it, even though negotiations…

The Economic Times

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Barchart

S&P 500 and Nasdaq 100 Post Record Highs on US-Iran Truce Reports

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed up +0.58%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +0.05%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.84%. June E-mini S&P futures (ESM26 ) rose +0.59%, and June E-mini Nasdaq futures...

Bangkok Post

US, Iran agree deal but need Trump approval: sources

WASHINGTON (UNITED STATES) - US and Iranian negotiators have agreed on a framework for a 60-day ceasefire extension deal but it still needs President Donald Trump's approval, US sources told AFP on Thursday.

Barchart

Dollar Slides on Weak US Economic News and US-Iran Peace Hopes

The dollar index (DXY00 ) on Thursday fell from a 7-week high and finished down -0.18%. The dollar gave up early gains and turned lower today on weaker-than-expected US economic news that is dovish for Fed policy. Weekly jobless claims rose more than expected, Apr capital goods new orders nondefense...

The Independent UK

Military has spent months building up ships and personnel in Caribbean and is ready for invasion of Cuba: report

President Trump and his advisers have reportedly gamed out scenarios where the U.S. military attacks Cuba, but an invasion plan is not currently underway

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Barchart

Crude Oil Prices Rise as US-Iran Peace Deal Not Yet Realized

July WTI crude oil (CLN26 ) on Thursday closed up +0.22 (+0.25%), and July RBOB gasoline (RBN26 ) closed up +0.0339 (+1.11%). Crude oil and gasoline prices recovered from early losses on Thursday and settled higher after US forces struck Iranian military targets for the second time this week and...

France 24

US, Iran engage in tit-for-tat attacks

Iran and the US engaged in tit-for-tat clashes this Thursday. Tehran said it fired on an American army base in the region, while the US claimed it had struck Iran’s Bandar Abbas port. Later in the day, Axios reported that Washington and Tehran had reached an agreement to extend their…

The Economic Times

Why are oil prices down today, and will Brent and US WTI crude futures continue to drop or rise again? Ceasefire report and US stockpile data impact crude market

Why are oil prices down today, and will Brent and US WTI crude futures continue to drop or rise again? Oil prices moved lower after reports claimed the United States and Iran reached a ceasefire extension agreement. Brent crude and US WTI crude futures also reacted to lower-than-expected US crude…

Barchart

Crude Oil Prices Supported as Strait of Hormuz Remains Closed

July WTI crude oil (CLN26 ) today is up +0.37 (+0.42%), and July RBOB gasoline (RBN26 ) is up +0.0168 (+0.55%). Crude oil and gasoline prices recovered from early losses and moved higher today after US forces struck Iranian military targets for the second time this week and Kuwait said...

The Times of India

Gulf of suspicion: US and Iran said to be nearing deal even as missiles fly

Amidst escalating tensions and attacks in the Strait of Hormuz, the US and Iran are reportedly nearing a diplomatic breakthrough. A draft Memorandum of Understanding could extend a fragile ceasefire, opening a 60-day window for talks on Iran's nuclear program in exchange for economic relief.

Barchart

Stocks Rebound Amid News of a US-Iran Deal

The S&P 500 Index ($SPX ) (SPY ) today is up +0.44%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.01%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.62%. June E-mini S&P futures (ESM26 ) are up +0.33%, and June E-mini Nasdaq futures...

The Economic Times

West Asia War: US-Iran draft 60 day-truce extension, all eyes on Trump nod, says US official; Tehran denies claims

A fragile ceasefire between the United States and Iran is reportedly extended for 60 days. Formal talks on Tehran's nuclear program are set to begin. The proposed deal aims to restore shipping through the Strait of Hormuz. Iran commits to not pursuing nuclear weapons. Discussions will cover uranium stockpiles and…

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