The U.S. military launched several waves of strikes against Iranian radar sites and ground control stations in response to a downed Apache helicopter. While The Wall Street Journal focuses on the military retaliation and subsequent drone attacks on U.S. forces, Reuters reports that the escalation has caused oil prices to rise amid heightened geopolitical risk.
Republican Steve Hilton and Democrat Xavier Becerra have secured the top two spots in the California gubernatorial primary. The New York Times reports that Hilton, endorsed by Donald Trump, will face Becerra in the November general election. The results follow an expensive primary campaign and a slow ballot counting process.
The Republican-controlled House passed a $70 billion bill to fund ICE and Border Patrol through the end of President Trump's term. Republicans used the reconciliation process to bypass Democratic opposition following fatal shootings by federal agents in Minneapolis. While the NYT highlighted internal GOP tensions over the legislation, Reuters noted the bill follows a period of partial government shutdown.
The Pentagon has added approximately two dozen Chinese companies, including Alibaba, Baidu, and BYD, to a list of entities aiding Beijing's military. While the Wall Street Journal highlights the expansion into consumer sectors like robotics and pharmaceuticals, AP notes the list grew to 188 entities and focuses on the companies' affiliations with Chinese ministries. The Chinese embassy and the affected companies have all denied the allegations of military involvement.
The Wall Street Journal reports that recent Iranian ballistic-missile salvos aimed at Israel demonstrate Tehran's new appetite for regional power projection. This escalation follows Israeli airstrikes in Beirut and suggests Iran is leveraging military threats to influence U.S. diplomatic efforts. While Iran shows increased assertiveness, analysts note the regime remains economically vulnerable and unable to match Israel's strategic strike capabilities.
SpaceX executives aim to launch orbital AI computing infrastructure demonstrations by late 2027, according to sources at recent investor presentations. The company is currently pitching a $75 billion fundraising effort for its upcoming IPO on the Nasdaq. The orbital computing strategy relies on the Starship rocket to reduce hardware transport costs.
U.S. District Judge Brian Cogan granted preliminary approval to a revised settlement between Visa, Mastercard, and merchants regarding swipe fee antitrust allegations. The agreement reduces interchange fees for five years and ends the Honor All Cards rule. While the card networks welcomed the decision, Reuters reports that several retail trade groups and Walmart objected to the terms.