BBC World
Elon Musk becomes world's first trillionaire as SpaceX soars in stock market debut
Elon Musk has become the world's first trillionaire, with his net worth hitting $1.11 trillion following SpaceX's blockbuster Nasdaq debut at a $2.2 trillion valuation. The listing marks a historic milestone for the private space industry, cementing SpaceX as one of the most valuable companies on earth. The achievement cements Musk's unprecedented dominance over global wealth, widening the gap between him and every other billionaire on the planet.
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Deal to end fighting would lead to Hormuz reopening, Iran says
A ceasefire deal between the US and Iran is nearing finalization, with Pakistan serving as a key mediator in the negotiations. Iran has signaled that an agreement would trigger the reopening of the Strait of Hormuz, the critical chokepoint through which roughly a fifth of the world's oil supply flows. The development offers markets their first concrete signal that the standoff threatening global energy supplies may be approaching its end.
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EU agrees launch of accession process for Ukraine and Moldova
Hungary's reversal clears the path for Ukraine and Moldova to formally begin EU accession negotiations, marking a significant diplomatic breakthrough after months of deadlock. The decision signals a renewed commitment from the bloc to expand eastward despite the ongoing war on Ukrainian soil. For Kyiv, it represents a concrete step toward the Western integration it has sought since Russia's full-scale invasion began.
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SCMP
US downs Iranian drones in Strait of Hormuz despite peace deal progress
The US military shot down multiple Iranian drones targeting commercial vessels in the Strait of Hormuz, one of the world's most critical shipping lanes, even as diplomatic sources from both sides signaled a peace agreement was within reach. The incident underscores the volatile gap between backroom negotiations and on-the-ground reality, with armed provocations continuing despite a fragile April truce brokered by Pakistan. For global markets and energy supply chains, the attack serves as a stark reminder that instability in the region remains a live threat regardless of diplomatic momentum.
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SCMP
Can America sustain a war with China? New reports raise questions
The U.S. military's technological edge over China may count for little if it cannot keep forces fueled, supplied, and connected during a conflict. Two new reports expose significant vulnerabilities in American power projection capabilities — from logistics networks to satellite communications — just as strategic competition with Beijing reaches a critical inflection point. As the nation marks its 250th year, the findings suggest Washington's defense debate needs to shift from hardware to the unglamorous but decisive question of sustainability.
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