The U.S. launched strikes against Iranian air defenses and radar sites following the downing of an American helicopter near the Strait of Hormuz. The Wall Street Journal reports President Trump intends to continue attacking Iran, while NPR notes that Iranian missiles targeted U.S. bases in Kuwait, Bahrain, and Jordan.
The New York Times reports that Trump administration officials held high-stakes meetings to manage fallout from the Epstein files and a Wall Street Journal report. Simultaneously, NPR reports that Bill Gates is testifying before Congress regarding his past relationship with Jeffrey Epstein as part of an ongoing investigation.
The Taiwanese military conducted live-fire exercises using U.S.-supplied HIMARS launchers facing the Taiwan Strait to simulate defending against an amphibious invasion. The Wall Street Journal notes the drill also signals Taiwan's commitment to U.S. support amid a pending arms package. NPR reports the exercise utilized reduced-range practice rockets to demonstrate mobile shoot-and-scoot capabilities.
A new analysis by Vertic indicates that a massive new facility in Yongbyon could increase North Korea's uranium enrichment capacity by 75 percent. The expansion includes a site with over 9,000 centrifuges and suggests Kim Jong Un intends to grow his nuclear arsenal. This development follows an increase in North Korea's estimated warhead count to 60.
The upcoming SpaceX market debut is seeing demand exceed supply by more than four times, according to Bloomberg. The New York Times reports the IPO could turn 4,400 current and former employees into millionaires. While Bloomberg focuses on the frenzy among retail investors, the New York Times highlights the generational wealth being created for staff.
U.S. inflation accelerated to an annual rate of 4.2% in May, the highest level in three years. The New York Times notes that the war in Iran creates risks of broader price pressures, while NPR highlights that soaring gasoline prices drove most of the monthly increase. Both outlets report that these persistent costs complicate prospects for Federal Reserve interest rate cuts.
The Trump administration has selected Oracle to provide a government-wide cloud HR platform to replace individual agency systems. According to Reuters, the Office of Personnel Management selected the company following testing and market research. The contract aims to modernize federal technology systems as part of broader government overhaul efforts.