Iran Begins Six-Day State Funeral for Former Supreme Leader Ali Khamenei
Iran opened a six-day state funeral for former Supreme Leader Ali Khamenei in Tehran, with thousands of mourners filling the Grand Mosalla mosque. Khamenei, who led Iran for 37 years, died at age 86 after an airstrike at the start of the war.Iran began a six-day funeral ceremony Saturday for former Supreme Leader Ayatollah Ali Khamenei, whose body is lying in state at Tehran's Grand Mosalla mosque until Monday before traveling across Iran and into Iraq. Thousands of mourners waited through the night to enter the grounds, with crowds filling the sprawling complex in central Tehran. Khamenei, who was 86, led the Islamic Republic for 37 years — the longest tenure of any supreme leader — before being killed in an airstrike at the outset of the war. The funeral's public display of unity masks what multiple sources describe as significant divisions within Iran's ruling circles. A notable absence at the proceedings — that of Ayatollah Mojtaba Khamenei — has raised questions inside Iranian political circles about who is effectively governing the country in the transitional period, and has allowed internal factional differences to surface more openly. The question of succession and the country's political direction remains unsettled, with no publicly confirmed process for naming a new supreme leader announced at this stage. The funeral processions are scheduled to continue across multiple Iranian cities before concluding.
Iran Seeks to Charge Transit Tolls for Strait of Hormuz Passage Amid U.S. Negotiations
Iran has indicated it intends to charge tolls for ships transiting the Strait of Hormuz, an unresolved issue in ongoing U.S.-Iran war negotiations with significant implications for global energy markets.Iran has stated it wants to impose a transit toll on commercial vessels passing through the Strait of Hormuz, one of the world's most critical maritime chokepoints through which a significant share of global oil and gas shipments flow. The demand represents a major unresolved issue in ongoing negotiations between U.S. and Iranian officials. The Strait of Hormuz connects the Persian Gulf to the Arabian Sea, and any disruption to or added cost on traffic through the strait would affect oil prices and shipping costs globally, with direct economic consequences for American consumers and markets. U.S. negotiators have not secured an agreement on the toll demand. Iran's control of the strait gives it continued leverage even as the broader conflict proceeds, and the toll proposal is one of several contested issues — alongside nuclear concerns and regional security arrangements — that remain open in diplomatic discussions. The outcome of these negotiations will have direct implications for energy prices and the pace of any broader resolution to the conflict.
U.S. Ambassador Confronts Iranian Diplomat at UN Security Council Over Gulf Drone Strikes
U.S. National Security Advisor Mike Waltz displayed photographs of drone and missile strike damage in Bahrain during a confrontational UN Security Council exchange with an Iranian diplomat following strikes on Bahrain and Kuwait.U.S. National Security Advisor Mike Waltz held up photographs of damage from drone and missile strikes in Bahrain during a tense exchange with Iranian diplomat Iravani at the UN Security Council, following strikes that targeted Bahrain and Kuwait. The public confrontation at the Security Council reflects ongoing tensions between Washington and Tehran in the context of the broader conflict, with U.S. officials attributing the Gulf strikes to Iran. The strikes on Bahrain and Kuwait — both countries with significant U.S. military presence — represent a geographic expansion of the conflict into Gulf state territory and raise concerns about regional escalation. The Security Council exchange did not produce any announced resolution or agreement.
Satellite Imagery Shows Continued Construction at Iran's Underground Nuclear Site
Satellite images indicate ongoing construction activity at a secret underground nuclear facility in Iran's Zagros Mountains. International Atomic Energy Agency inspectors have not been permitted to visit the site.Satellite imagery reviewed by experts shows continued construction activity at a facility known as Pickaxe Mountain, a secret underground nuclear site located in Iran's Zagros Mountains. Analysts describe the activity as a matter of deep concern, given the site's suspected purpose and the absence of international oversight. The International Atomic Energy Agency has not been granted access to inspect the location. The development comes as Iran's political leadership is in transition following the death of Supreme Leader Khamenei, and as negotiations between U.S. and Iranian officials on multiple fronts — including nuclear matters — remain unresolved. The continued work at an uninspected underground facility complicates efforts to assess the current state of Iran's nuclear program.
Keiko Fujimori Officially Declared Winner of Peru's Presidential Election
Peru's electoral authority officially declared Keiko Fujimori the winner of the presidential runoff election, nearly a month after voting took place. Fujimori defeated Roberto Sánchez by a narrow margin.Peru's electoral authorities have officially declared Keiko Fujimori the winner of the country's presidential runoff election, completing a certification process that took nearly a month following the vote. Fujimori defeated incumbent candidate Roberto Sánchez by a razor-thin margin. Fujimori, the daughter of former president Alberto Fujimori — who died while serving a prison sentence for human rights abuses — had previously run for the presidency twice without success. During the campaign, she pledged a firm approach to surging crime as a central policy priority. Her election as Peru's next president carries implications for U.S.-Peru trade relations and regional political dynamics in South America.
Ukraine Conducts Sustained Strike Campaign Targeting Russian Military Infrastructure in Crimea
Ukraine has carried out a sustained series of strikes in Crimea aimed at degrading Russian air defense systems, severing supply routes, and damaging the peninsula's energy grid and fuel reserves.Ukraine has been conducting an ongoing military campaign targeting Russian-controlled Crimea, with strikes focused on disabling air defense installations, cutting supply lines into the peninsula, and damaging energy infrastructure including fuel reserves. The campaign represents a strategic effort to reduce Russia's ability to project air power from Crimea and to complicate logistical support for Russian forces operating in southern Ukraine. Crimea, which Russia annexed in 2014, has served as a major hub for Russian military operations since the full-scale invasion began. Disrupting its infrastructure has been a consistent Ukrainian objective. The strikes have intensified as the broader conflict continues, with Ukraine using a combination of aerial and naval drone systems. The sustained nature of the campaign signals a deliberate strategic posture rather than isolated incidents.
Russia Recruiting African Mercenaries to Offset Heavy Casualties in Ukraine War
Russia has turned to recruiting soldiers from African countries to sustain its military operations in Ukraine, as its total estimated casualties approach 1.5 million, including an estimated half million killed.Russia has been actively recruiting mercenary soldiers from African countries to serve on the front lines of its war against Ukraine, as the country's military has struggled to replenish its forces following what independent analysts estimate at approximately 1.5 million total casualties, including an estimated 500,000 killed since the war began. The recruits are being drawn in by promises of pay or other incentives, according to reporting, and are being deployed to active combat positions. The use of African recruits reflects the scale of Russia's personnel losses and its difficulty sustaining a volunteer domestic fighting force. For American policymakers and NATO allies, the practice extends the war's global footprint and raises questions about Russia's long-term capacity to sustain the conflict.
Multiple States File Lawsuit Against Federal Medicaid Work Requirements
A coalition of states has sued the Trump administration over new federal Medicaid work requirements, arguing the rules exceed congressional authorization and deviate from guidance previously provided to states.A group of states has filed a federal lawsuit challenging new Medicaid work requirements implemented by the Trump administration. The lawsuit contends that the federal rules go beyond what Congress authorized when it enacted Medicaid legislation, and that they break from guidance the federal government had previously communicated to states planning their Medicaid programs. Medicaid work requirements mandate that certain enrollees demonstrate employment, job training, or community service participation as a condition of receiving coverage. The rules have been a contested policy area across multiple administrations, with prior attempts to implement them blocked by courts. The outcome of the lawsuit will affect Medicaid coverage for millions of Americans, particularly low-income adults in states that expanded Medicaid under the Affordable Care Act.
'Trump Accounts' Children's Savings Program Launches, Backed by Major Wall Street Firms
A new federally authorized children's savings program named Trump accounts, established by congressional Republicans, launched Saturday, allowing American parents to invest on behalf of children through funds managed by major Wall Street firms.A new savings vehicle called Trump accounts became available Saturday, authorized by congressional Republicans as part of recent legislation. The accounts allow American parents to invest money for their children in funds managed by major Wall Street financial firms. All accounts opened for eligible children are set to receive an initial contribution under the program's terms. The accounts are designed as long-term investment vehicles, functioning similarly to existing tax-advantaged savings structures. The program represents a new option for families saving for their children's futures, though critics and supporters have offered differing views on the program's structure, the role of Wall Street managers, and the long-term implications for participating families. Details on contribution limits, tax treatment, and withdrawal rules were outlined in the authorizing legislation.
U.S. Government Lifts Restrictions on Anthropic's Most Powerful AI Models
The U.S. government has lifted restrictions it had placed on Anthropic's most advanced artificial intelligence models, allowing the company to bring those systems back online and resolving a dispute with the Trump administration.The U.S. government has ended restrictions it had imposed on Anthropic, the AI company, allowing the firm to restore access to its most powerful AI models. The restrictions had represented the federal government's most significant attempt to control access to frontier AI systems, and their removal marks a de-escalation of a standoff between Anthropic and the Trump administration. Anthropic, one of the leading developers of large language model AI systems, had been operating under constraints that limited deployment of its most capable technology. The episode highlighted the emerging tension between government oversight of advanced AI and the commercial interests of AI developers, a dynamic that policymakers and the industry are continuing to navigate. No new regulatory framework was announced alongside the lifting of the restrictions.
Markets have trended modestly higher over the past week.
Analysis Finds Nearly One Million Investors Lost $3.8 Billion on Trump-Branded Cryptocurrency
A cryptocurrency analytics firm found that approximately one million retail investors collectively lost $3.8 billion on the Trump-branded memecoin, while a smaller group of sophisticated traders fared significantly better.A report from a cryptocurrency analytics firm found that close to one million people who purchased the Trump memecoin — a digital token branded around the U.S. president — lost money on their investment, with total retail losses reaching approximately $3.8 billion. The analysis found that outcomes were highly uneven: most ordinary retail investors lost money, while a smaller group of more sophisticated traders recorded gains. The memecoin was launched ahead of the presidential inauguration and generated significant early trading volume. The findings raise questions about the nature of the financial instrument, its promotion, and the concentration of gains among a small number of market participants. No regulatory action has been announced in connection with the report's findings.
Bank Overdraft Fee Revenue Rising After Congress Eliminated Federal Cap
Bank revenue from overdraft fees is increasing following Congress's repeal last year of a federal rule that capped how much banks could charge customers who overdraw their accounts.Banks are collecting increasing revenue from overdraft fees following Congress's elimination last year of a federal rule that had capped those charges. The rule, which had been finalized by the Consumer Financial Protection Bureau, limited overdraft fees to a set dollar amount per transaction. With the cap removed, banks have returned to setting their own fee levels, and aggregate industry revenue from overdrafts has risen as a result. Overdraft fees are charged when a customer spends more than is available in their account and the bank covers the shortfall. Consumer advocates have long argued these fees fall disproportionately on lower-income account holders who maintain smaller balances. The policy reversal is relevant to any American with a checking account, particularly those who occasionally overdraw.
Extreme Heat Disrupts Fourth of July Events Across Eastern United States
An intense heat event affecting more than 165 million Americans brought temperatures at or above 38°C (100°F) across large parts of the country during the Fourth of July weekend, forcing cancellations of public celebrations from Washington D.C. to Philadelphia and straining energy infrastructure.A major heat event enveloped much of the eastern United States during the Fourth of July holiday weekend, exposing more than 165 million people to dangerous heat and humidity. Temperatures reached or exceeded 38 degrees Celsius — 100 degrees Fahrenheit — across a broad region, with conditions expected to persist for several days. The heat forced communities in Washington D.C., Philadelphia, and other cities to cancel or significantly alter planned Independence Day celebrations. Energy grid operators reported strain as demand for air conditioning surged. Health authorities issued warnings about heat-related illness risk, particularly for elderly residents, outdoor workers, and people without access to cooling. Separately, European health authorities have issued alerts as a heat event affects that continent as well. Climate scientists have attributed the increasing frequency and severity of such heat events to long-term warming trends.
Research Finds Fentanyl Tolerance Among Regular Users Has Outpaced Standard Addiction Treatments
New research shows that regular fentanyl users have developed tolerance levels so high that standard medications used to treat opioid addiction are no longer effective for many patients, complicating treatment efforts.New research conducted in Los Angeles has found that tolerance to fentanyl among people who use the drug regularly has reached levels that render previously standard addiction treatments inadequate for a significant portion of patients. Fentanyl, a synthetic opioid far more potent than heroin or prescription painkillers, has become the dominant drug in the U.S. opioid crisis, and its potency means that regular users develop tolerance rapidly. The research indicates that medication-assisted treatments — the current clinical standard for opioid use disorder — are failing to achieve the expected effect in many patients whose tolerance has grown to levels not previously encountered in clinical practice. The findings have significant implications for public health policy and for the medical community's approach to treating opioid addiction, as clinicians and researchers work to identify what alternative or enhanced treatment protocols might be effective for this population.
AI Researcher Yann LeCun Launches AMI Labs with Over $1 Billion in Funding
Yann LeCun, who departed Meta in 2025, has founded a Paris-based AI startup called AMI Labs, raising over $1 billion from investors including Nvidia and Bezos, with a focus on developing AI systems capable of physical-world reasoning beyond large language models.Yann LeCun, one of the most prominent figures in artificial intelligence research and a former chief AI scientist at Meta, has launched a new startup called AMI Labs, based in Paris, with backing of more than one billion dollars. Investors include Nvidia and Jeff Bezos. LeCun, who left Meta in 2025, has been a prominent public critic of large language models — the technology underlying systems like ChatGPT — arguing they are insufficient for achieving more general forms of intelligence. AMI Labs is focused on building AI systems that can reason about and interact with the physical world in ways that current language-based models cannot. The company's substantial early funding and LeCun's standing in the research community make it a significant new entrant in an already highly competitive field.
A security guard was rescued alive after spending eight days trapped in a collapsed shopping center following last week's earthquakes in Venezuela. Hundreds of deaths have been confirmed, and overwhelmed local services are conducting victim identification at makeshift morgues.A security guard identified as Hernán Alberto Gil Flores was pulled from the rubble of a collapsed shopping center in La Guaira, Venezuela, eight days after earthquakes struck the country, in a rescue that drew widespread attention. Video of his emergence showed him being carried through crowds. The broader disaster has resulted in hundreds of confirmed deaths, a figure still being compiled as recovery efforts continue. Local emergency services have been overwhelmed by the scale of casualties, with bodies placed outside or in temporary tent structures for families to attempt identification. The earthquakes have strained Venezuela's already limited infrastructure and emergency response capacity. The scale of the disaster and its death toll give it direct significance as a humanitarian crisis in a country with existing ties to U.S. policy concerns in Latin America.