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US, Saudi Arabia strike Iran-backed militias in Iraq

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U.S. and Saudi forces launched strikes on Iranian proxies in Iraq overnight, spiking energy prices and fueling fears of a wider war as the war with Iran hits the five-month mark. Saudi Arabia responded to a streak of drone strikes from Iran-backed militias that targeted its Aramco’s Abqaiq oil processing facility. It is the world’s…

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Bank of England holds interest rates despite Iran war inflation threat - as it happened

US news | The Guardian

16 minutes ago

Bank of England holds interest rates despite Iran war inflation threat - as it happened

Live, rolling coverage of business, economics and financial markets as three members of monetary policy committee vote to raise ratesThat German GDP reading has indeed contributed to the wider eurozone hitting expectations – and then some.The eurozone economy grew by 0.4% in the second quarter of 2026, according to the preliminary reading from Eurostat – defying the gloom caused by the US-Israeli war on Iran. Continue reading...

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Bloomberg Politics

46 minutes ago

Kevin Warsh Sparks Bond Rout After Fed Decision; US Strikes Iran Again | Daybreak Europe 7/30/2026

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, US 30-year treasury yields hit their highest since 2007 after the Federal Reserve held interest rates for the fifth straight meeting. The hold raised doubts about Chairman Kevin Warsh's commitment to tackling inflation. Samsung reported a 250-fold jump in profit at its semiconductor arm, easily beating expectations. Microsoft’s cloud unit grew at the fastest clip in four years. Today's guests: Jean-François Decaux, JCDecaux, Co-CEO; Ellie Henderson, Investec, Economist & Olivier Blum, Schneider Electric, CEO (Source: Bloomberg)

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Obama endorses Democratic Iowa state rep running for US Senate against Trump-backed House Republican

Latest Political News on Fox News

3 hours ago

Obama endorses Democratic Iowa state rep running for US Senate against Trump-backed House Republican

Former President Barack Obama endorsed Democratic Iowa state Rep. Josh Turek for U.S. Senate as the candidate runs against Trump-backed Republican U.S. Rep. Ashley Hinson.

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US Strikes Iran in Wake of Surprise Attack on American Forces

NBC News Politics

3 hours ago

US Strikes Iran in Wake of Surprise Attack on American Forces

The United States launched major strikes against Iran Thursday morning after President Donald Trump vowed to hit the regime “very hard” as retaliation for a surprise attack on American forces in the region earlier in the week. It comes as a new poll shows 72% of Americans disapprove of the president's handling of Iran. NBC’s Gabe Gutierrez reports for TODAY.

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DSA leadership plans for a 2028 nationwide general strike: A ‘perfect storm’ for organizing

Washington Examiner

5 hours ago

DSA leadership plans for a 2028 nationwide general strike: A ‘perfect storm’ for organizing

As Democrats and Republicans prepare for the 2028 presidential race, the Democratic Socialists of America are preparing for something different: a nationwide general strike that, if successful, could paralyze the U.S. economy. “We are building toward May Day 2028 (and looking ahead to the 2028 Presidential Election, too),” DSA co-chairs Megan Romer and Ashik Siddique […]

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About two-thirds say Iran war not worth fighting: Survey

The Hill News

5 hours ago

About two-thirds say Iran war not worth fighting: Survey

New polling shows that about two-thirds of Americans say the U.S.-Israeli conflict in Iran is not worth fighting. The Associated Press-NORC Research Center survey, released Thursday, found 64 percent of U.S. adults believe the ongoing fighting is not worth the risks. Another 33 percent said the opposite. Majorities of Democrats and independents, at 87 percent…

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Iran war shows China role in setting the price of oil

Axios

5 hours ago

Iran war shows China role in setting the price of oil

Data: China's General Administration of Customs; Chart: Matt Phillips/AxiosThe Iran war has revealed China's enormous power over global oil prices, thanks to its position as the world's largest buyer. Why it matters: China's reaction to the oil shock — by substantially withdrawing from buying on world markets — helped prevent the worst of the price spikes that experts thought would follow from the effective closure of the Strait of Hormuz.Catch up quick: After the U.S. and Israel launched the war on Feb. 28, Chinese crude oil imports dove as prices spiked. At first, the decline in imports didn't surprise analysts. (China has long been known as a price-sensitive buyer.) Yes, but: Few expected that China could maintain this low level of oil buying without deeply damaging its domestic economy. But as the war approaches its sixth month, China has done just that.By the numbers: Through June, Chinese oil imports remain down over 40% from the previous year. "I guess the surprise has been just how low Chinese demand can go," said Michal Meidan, head of China energy research at the Oxford Institute for Energy Studies. "But it's been low without impairing the well-functioning of the economy." How it works: Chinese policymakers have pulled several levers to mitigate the impact of the decline in oil imports, Goldman Sachs analysts say. Chinese officials tapped into domestic reserves of coal, oil and natural gas for supplies. They boosted usage of coal and renewables, where it is less reliant on imports. And China took advantage of its giant fleet of electric vehicles, reflected by the fact that "despite much lower gasoline consumption, traffic congestion remained relatively stable," Goldman analysts say.Big picture: Broadly speaking, analysts say that China has taken such steps almost exclusively for the benefit of its domestic economy. But the benefits of those decisions — basically lower global oil prices — have been broadly shared. What they're saying: "China has been a key player in helping the global economy navigate this crisis," Reid I'Anson, a Houston-based economist at global commodities and shipping consulting firm Kpler, tells Axios."They are the major swing demand setter in the global oil market, for sure," says Jane Nakano, senior fellow in the Energy Security and Climate Change Program at the Center for Strategic and International Studies."China has drastically reduced its net imports of fossil fuels, effectively acting as a shock absorber for global energy prices through reduced demand," Goldman Sachs analysts wrote in a report last week. Caveat: China isn't the only reason that the world economy was able to deal with the energy supply disruptions of the war.Rich nations released large amounts of oil from their own strategic reserves.And U.S. energy companies drastically boosted exports to meet global demand.Connect the dots: Still, China's energy policy — and its ability to keep global prices in check — could be a valuable asset, as it positions itself as a source of stability, often in contrast to current U.S. leadership."China is doing this for China, fundamentally," said Ruby Osman, a senior policy advisor on China at the Tony Blair Institute for Global Change. "But obviously it's not unhelpful for China that it has become a global public good."What we're watching: Any hints that Chinese buyers are flocking back to global markets. Early indications suggest a bit of a bounce in July purchases.

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TIME

5 hours ago

Why Iran Cannot Fight a Forever War

Iran has disrupted global energy supplies and imposed costs on the United States and its allies, but it is not clear how it can remain in a permanent state of war.

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US, Saudi Arabia strike Iran-backed militias in Iraq

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US, Saudi Arabia strike Iran-backed militias in Iraq

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