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US Supreme Court blocks Trump's firing of Fed Governor Lisa Cook, upholds Fed independence

The US Supreme Court ruled 5-4 to block President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook, ruling that the administration failed to provide adequate procedural protections. The decision affirms the Federal Reserve's independence by requiring cause for removal of its governors. In a separate 6-3 ruling, the court expanded presidential power to fire heads of other independent agencies like the FTC, overturning a 1935 precedent. The Cook case will return to lower courts where the administration must prove its mortgage fraud allegations.

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The US Supreme Court ruled 5-4 to block President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook, ruling that the administration failed to provide adequate procedural protections. The decision affirms the Federal Reserve's independence by requiring cause for removal of its governors. In a separate 6-3 ruling, the court expanded presidential power to fire heads of other independent agencies like the FTC, overturning a 1935 precedent. The Cook case will return to lower courts where the administration must prove its mortgage fraud allegations.

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Trump warns fuel retailers to lower gasoline prices as oil drops to $68

US President Donald Trump warned fuel retailers to immediately lower gasoline prices, citing that oil prices have dropped to $68 per barrel after the Strait of Hormuz closure earlier this year. He threatened 'big problems' if retailers do not comply, accusing them of illegal gauging. The warning comes amid declining oil prices following a US-Iran memorandum of understanding.

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US President Donald Trump warned fuel retailers to immediately lower gasoline prices, citing that oil prices have dropped to $68 per barrel after the Strait of Hormuz closure earlier this year. He threatened 'big problems' if retailers do not comply, accusing them of illegal gauging. The warning comes amid declining oil prices following a US-Iran memorandum of understanding.

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Strait of Hormuz shipping continues with 108 transits over weekend despite security incidents

Vessel traffic through the Strait of Hormuz continued over the weekend of June 26–28, 2026, despite security concerns and attacks on two ships. MarineTraffic recorded 108 verified transits over three days, with daily counts of 48 on June 26, 38 on June 27, and 22 on June 28. This represents a decline from earlier in the week, when 54 transits were recorded on June 25 and 70 on June 24—the highest daily total since the US-Israel war on Iran began. While traffic remains down from pre-conflict averages of 130–140 daily, the data indicates the waterway remains open amid the ongoing conflict.

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Vessel traffic through the Strait of Hormuz continued over the weekend of June 26–28, 2026, despite security concerns and attacks on two ships. MarineTraffic recorded 108 verified transits over three days, with daily counts of 48 on June 26, 38 on June 27, and 22 on June 28. This represents a decline from earlier in the week, when 54 transits were recorded on June 25 and 70 on June 24—the highest daily total since the US-Israel war on Iran began. While traffic remains down from pre-conflict averages of 130–140 daily, the data indicates the waterway remains open amid the ongoing conflict.

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Israel and Lebanon reach US-brokered peace agreement; Hezbollah rejects it

Israeli Prime Minister Netanyahu announced a US-brokered trilateral framework agreement with Lebanon aimed at achieving peace and disarming Hezbollah, calling it a historic blow to Iran and Hezbollah. Hezbollah leader Naim Qassem rejected the agreement as humiliating and void. Israeli Defense Minister Katz insisted troops would remain in southern Lebanon as long as Hezbollah is armed, while Lebanese President Aoun viewed it as a first step toward sovereignty. The agreement includes a trial plan for Lebanese army deployment in two areas and a process to disarm Hezbollah.

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Israeli Prime Minister Netanyahu announced a US-brokered trilateral framework agreement with Lebanon aimed at achieving peace and disarming Hezbollah, calling it a historic blow to Iran and Hezbollah. Hezbollah leader Naim Qassem rejected the agreement as humiliating and void. Israeli Defense Minister Katz insisted troops would remain in southern Lebanon as long as Hezbollah is armed, while Lebanese President Aoun viewed it as a first step toward sovereignty. The agreement includes a trial plan for Lebanese army deployment in two areas and a process to disarm Hezbollah.

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Pentagon unveils Agent Network, an agentic-AI tool for rapid targeting options

The Pentagon announced a new agentic-AI tool, Agent Network, that continuously scans intelligence and operational systems to provide U.S. military commanders with targeting options within seconds. Developed with contractors Lumbra and Palantir, the tool is part of a broader Pentagon AI strategy. While officials emphasize that commanders remain in charge of strike decisions, experts warn of risks including computational limitations of current LLMs and potential for autonomous agents to cause unintended damage, citing a private-sector incident where an agent wiped a live production database.

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The Pentagon announced a new agentic-AI tool, Agent Network, that continuously scans intelligence and operational systems to provide U.S. military commanders with targeting options within seconds. Developed with contractors Lumbra and Palantir, the tool is part of a broader Pentagon AI strategy. While officials emphasize that commanders remain in charge of strike decisions, experts warn of risks including computational limitations of current LLMs and potential for autonomous agents to cause unintended damage, citing a private-sector incident where an agent wiped a live production database.

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US nuclear negotiating team with Iran departs for Qatar

US Special Envoy Steve Witkoff informed lawmakers that the technical team for nuclear negotiations with Iran has left Switzerland for Qatar. Witkoff and Secretary of State Marco Rubio confirmed that Iran has not received any funds under the memorandum of understanding and stressed the need to prevent Iran from retaining highly enriched uranium.

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US Special Envoy Steve Witkoff informed lawmakers that the technical team for nuclear negotiations with Iran has left Switzerland for Qatar. Witkoff and Secretary of State Marco Rubio confirmed that Iran has not received any funds under the memorandum of understanding and stressed the need to prevent Iran from retaining highly enriched uranium.

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Farmers worldwide brace for El Niño amid trade and energy pressures

Background: A severe El Niño event was forecast to threaten global crop production, with hot and dry weather disrupting planting across Asia and raising food supply concerns. Meteorologists have now declared the onset of El Niño, with forecasts of a particularly strong event. Aid agencies, including the FAO and WFP, have issued a joint appeal for over $200 million to protect 8.8 million people in high-risk countries, warning of heightened food insecurity in southern Africa, Central America, India, and Australia. The expected peak overlaps the main maize season in southern Africa. Global inventories of rice, wheat, corn, and soybeans are high, offering some relief at the market level, but regional pain is expected. The U.S. may see positive yield impacts, while vulnerable regions face heightened food insecurity amid reduced humanitarian aid funding. Trade between countries is highlighted as the most important tool for mitigating production deficits.

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Background: A severe El Niño event was forecast to threaten global crop production, with hot and dry weather disrupting planting across Asia and raising food supply concerns. Meteorologists have now declared the onset of El Niño, with forecasts of a particularly strong event. Aid agencies, including the FAO and WFP, have issued a joint appeal for over $200 million to protect 8.8 million people in high-risk countries, warning of heightened food insecurity in southern Africa, Central America, India, and Australia. The expected peak overlaps the main maize season in southern Africa. Global inventories of rice, wheat, corn, and soybeans are high, offering some relief at the market level, but regional pain is expected. The U.S. may see positive yield impacts, while vulnerable regions face heightened food insecurity amid reduced humanitarian aid funding. Trade between countries is highlighted as the most important tool for mitigating production deficits.

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US authorizes Anthropic to restore Mythos 5 access for critical infrastructure organizations

Background: The Trump administration previously imposed export controls on Anthropic's Fable 5 and Mythos 5 AI models, citing national security concerns over potential jailbreak vulnerabilities, after Amazon and other companies reported security issues to the White House. The controls forced Anthropic to disable the models for all customers, sparking backlash from cybersecurity leaders, industry groups, and foreign allies who warned the move weakens U.S. cyber defenses, undermines AI export strategy, and risks pushing customers toward Chinese or open-source alternatives. Parts of the National Security Agency lost access to Mythos 5 as a result. The earlier ban also raised concerns among EU officials, including French minister Benjamin Haddad, who called for Europe to invest more in sovereign AI capabilities. Today: Anthropic announced on Friday that the US government has authorized the restoration of Mythos 5 access to select US organizations operating and defending critical infrastructure. The company stated it is working to expand access and make Fable 5 available for general use again, following weeks of collaboration between Anthropic and the government.

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Background: The Trump administration previously imposed export controls on Anthropic's Fable 5 and Mythos 5 AI models, citing national security concerns over potential jailbreak vulnerabilities, after Amazon and other companies reported security issues to the White House. The controls forced Anthropic to disable the models for all customers, sparking backlash from cybersecurity leaders, industry groups, and foreign allies who warned the move weakens U.S. cyber defenses, undermines AI export strategy, and risks pushing customers toward Chinese or open-source alternatives. Parts of the National Security Agency lost access to Mythos 5 as a result. The earlier ban also raised concerns among EU officials, including French minister Benjamin Haddad, who called for Europe to invest more in sovereign AI capabilities. Today: Anthropic announced on Friday that the US government has authorized the restoration of Mythos 5 access to select US organizations operating and defending critical infrastructure. The company stated it is working to expand access and make Fable 5 available for general use again, following weeks of collaboration between Anthropic and the government.