UNITED ARAB EMIRATES - The United Arab Emirates halted all trade with Iran “until further notice” on Wednesday after accusing Tehran of firing ballistic missiles toward the country. The UAE imposed the punitive measure after two incoming ballistic missiles splashed down in the Persian Gulf on Tuesday night — triggering nationwide warnings and forcing residents to flee for safety for the first time in weeks. The Emirati Foreign Ministry then announced that the UAE will suspend all trade and financial transactions with Iran “until further notice,” while remaining committed to “dialogue, cooperation, and regional integration.” The Iranian Foreign Ministry, however, denied that Iran had launched any such missiles toward the UAE, according to ministry spokesperson Esmail Baghaei. The UAE regularly came under intense fire from the Islamic Republic early in the conflict. The move further economically isolates Iran, which is already suffering under US sanctions and a blockade.

IRAN - Iran’s supreme leader is under mounting pressure over the war — as the regime’s grip on the Strait of Hormuz weakens, cash finally starts to get tight and top political leaders publicly urge the Islamists in charge to find a way out of the conflict. The latest phase of the conflict has seen more and more ships quietly slipping through Hormuz, with nearly 200 vessels sailing through the strait last week, according to data from the UK Maritime Trade Operations Center. The flow represents a 400% spike in the last two weeks, with maritime analysts Kpler noting that the traffic finding safe passage — aided by US Navy escorts — effectively means Iran has lost partial control of the strait. And while more ships and oil are getting out, Iran’s own oil exports have dropped to near zero, under the renewed American blockade on its ports and President Trump’s “economic D-Day” measures.

RUSSIA - Russia delivered a stark threat over Britain's decision to supply Ukraine with secret missile technology today. Moscow accused the UK of 'participating in this war' as Andy Burnham arrived in Kyiv for his first foreign visit. The Prime Minister announced that European defence firm MBDA has been given permission to share information on UK components for the long-range Scalp missile - the French version of the Storm Shadow. He insisted there would be no let-up in the UK's support for Ukraine against Vladimir Putin's aggression, branding Russia's threats to the UK 'outrageous'. But Kremlin spokesman Dmitry Peskov again upped the ante, saying: 'Britain is participating in this war. It is participating in this war on the side of the Kyiv regime."

USA - At $4.3 trillion, California would rank among the world’s five largest economies if it were an independent country. Its closest match on the map is the United Kingdom. Texas, meanwhile, has a $2.9 trillion economy, putting it closest to Russia. Both are major energy powerhouses, particularly in oil and gas. New York’s $2.5 trillion economy is roughly the same size as Canada’s GDP. Meanwhile, Florida’s $1.8 trillion economy is closest to Australia, the largest economy in Oceania. Together, these four states would each qualify for the Group of 20 (G20) if they were independent countries. Further down the list, Illinois has a $1.2 trillion GDP that is roughly the same size as Saudi Arabia’s, though its economy is far more diversified. Pennsylvania follows at $1.1 trillion, placing it closest to Switzerland. Overall, the US has a $30.8 trillion national GDP, roughly equal to the combined output of China, Germany, and Japan, the world’s next three largest economies.

UK - Iran shut down a British power plant for four days in an unprecedented cyber attack, The Telegraph can disclose. It is thought to be the first time that hackers affiliated to the Iranian regime have succeeded in closing down such a facility in the UK, and is believed to be the most successful cyber attack of its kind. The Telegraph understands that the incident took place at the same time as a series of attacks on US water infrastructure last month, which affected 12 states and caused concern in the White House. British officials refused to be drawn on which power plant had been affected, citing security concerns, but it is understood that the facility was disabled for four days while staff fought to bring it back online. It is understood that the plant affected was relatively small and that the outage had no impact on the UK’s wider power supply or energy generation.

IRAN - Iran has threatened to strike American businesses if Donald Trump launches his “economic D-Day” campaign to force Tehran to accept a deal to end the war. Mohsen Rezai, the head of Iran’s national security council, also warned allies of the US that they would be considered enemies, and their interests harmed, if they joined the US president’s financial warfare. Mr Trump said on Wednesday that Iran would face “economic warfare and isolation on an unprecedented scale”. On Saturday, Mr Rezai insisted that the Islamic Republic had additional leverage in the war, claiming that “we have not yet attacked any American economic interests”. He told Iranian state media: “So far, we have only targeted military bases, but if they want to impose economic sanctions on us, the US has oil and economic companies around Iran and elsewhere, and we will strike them.” If Mr Trump enacts his plan “our confrontation will be like an earthquake”, Mr Rezai added.

USA - Donald Trump is twisting the knife again in his war with Iran. Bombs and bullets may have been the US president’s first port of call, but now Trump wants to squeeze the life out of Tehran with another tactic: taking down its crippled economy. Trump said last week that he was about to launch an “economic D-Day” and “economic warfare... on an unprecedented scale” to end the conflict. “These maniacs are on the ropes and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide,” he said on his Truth Social site. But if Trump thinks unleashing US financial firepower will finally turn the tide of the six-month-old conflict, he is in for a rude awakening. Iran’s mullahs have suffered economic onslaughts before and analysts say Trump is deluded to think he can succeed where others have failed.

USA - As US debt rockets, the president and allies are scrambling to prevent a financial earthquake. Trump urged the American public not to worry about the bond markets’ jitters. Asked whether Americans should fret, the president said: “No, I don’t think so. Our country is doing so well despite interest rates.” He later advocated for Bessent by claiming he has “a very natural touch for the bonds”. But if Bessent’s gambit fails, the markets could take serious fright. That would send the cost of borrowing soaring – and not just in the US. “If the US catches a cold, all of you are going to get pneumonia,” says Joseph Brusuelas, the chief economist at accounting and consultancy firm RSM. Governments, including Britain’s, will be forced either to tighten their belts or to let inflation run riot. Mortgages will get more expensive. Investment in roads, schools and hospitals will have to shrink. Taxes will have to rise. Businesses will struggle, jobs will be lost, economies will falter. Trump’s gamble, with the world’s biggest debt stockpile, is that he can keep the party going. But in trying to take on the bond vigilantes, Trump and Bessent may inadvertently have started another unwinnable war.

USA - That $40 trillion figure is $136 trillion short! The actual total national debt is more than $176 trillion. At that level, each and every federal taxpayer is liable for $1.1 million in outstanding debt. How could every media outlet across the ideological spectrum get it so wrong? Because the Treasury Department's official figure for the national debt does NOT include future promised-but-unfunded Social Security, Medicare and other entitlement benefits, according to Truth in Accounting (TIA), the Chicago-based financial analysis non-profit. Based on official documents, here's how TIA broke out that $170 trillion:

• Unfunded Medicare Benefits — $74.5 trillion


• Unfunded Social Security Benefits — $54 trillion


• Publicly-held Debt — $30.3 trillion


• Pension and Retiree Health Care Liabilities — $15.5 trillion


• Other Liabilities — $2 trillion

USA - The US government has awarded Lockheed Martin a contract worth up to $58.62 billion to produce Patriot interceptor missiles amid increased demand for interceptors driven by US and allied air-defense requirements. The Lockheed award converts a previous one-year deal worth $4.7 ​billion awarded in April into a seven-year draft agreement, creating a multiyear procurement plan​ for the interceptors from fiscal 2026 through 2032. Lockheed Martin said the new funding will allow it to triple production of PAC-3 missile segment enhancement (MSE) interceptors by the end of 2030. Jim Taiclet, Lockheed Martin’s chairman, president, and CEO, said the company was moving quickly to expand manufacturing capacity.