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At a Wednesday briefing, White House Press Secretary Karoline Leavitt framed the ongoing US‑Israel war against Iran as a "test" that NATO failed, hinting that President Donald Trump is weighing a possible withdrawal from the alliance. She quoted the president saying the partnership had turned its back on the American people over the past six weeks. Shortly thereafter, Trump met with NATO Secretary‑General Mark Rutte at the White House. Both described the discussion as "frank and open," with Rutte acknowledging logistical support and base access from allies, but noting the absence of direct military contributions. During a CNN interview, host Jake Tapper asked Rutte whether the president intended to pull the United States out of NATO or at least reduce its backing. Rutte admitted there was disappointment, yet emphasized he had listened carefully to Trump’s arguments and praised the president’s leadership. Since assuming office in 2025, Trump has intensified pressure on NATO members to raise defence spending. At the 2025 NATO summit, members agreed to a non‑binding target of 5 % of GDP by 2035. Spain’s request for an exemption sparked a year‑long public denouncement by Trump. Earlier, Trump threatened to seize the Danish territory of Greenland, claiming its strategic value, though the United States has since softened that stance. Nevertheless, he continues to argue that US control of Greenland is essential, despite opposition from local residents and European leaders. The Wall Street Journal reported that the administration is evaluating the closure of U.S. bases or the redeployment of troops from countries such as Spain and Germany as retaliation for their limited engagement in the Iran conflict. When pressed about a potential NATO exit, Leavitt confirmed that the president "has discussed" the option and may address it after his meeting with Rutte. The president’s relationship with Rutte remains close; the Dutch leader has visited the White House multiple times during Trump’s second term. Rutte warned that NATO "will not work" without U.S. support, underscoring the strategic stakes of any American pull‑back. The unfolding debate highlights a deepening rift between Washington and its European partners at a time when the broader geopolitical landscape is already destabilised by the Iran war.

Oil and gas markets rallied on Thursday as investors grappled with the shaky outlook for the two‑week Iran‑Israel ceasefire. Brent crude rose more than 2% to $96.77 a barrel, while New York light crude climbed nearly 3% to $97.23, still shy of the $100 threshold that many traders watch. The previous session had seen Brent plunge 13.29% to a four‑week low of $94.75. In the gas sector, the UK month‑ahead contract rebounded 1% to 115.35p per therm after a 15% drop the day before. European natural‑gas futures also recovered, edging toward €46/MWh from a five‑week trough of €45.30. The price uptick reflects growing scepticism about the durability of the ceasefire announced a day earlier by the United States and Iran, which included a pledge to reopen the Strait of Hormuz. UAE and Kuwait reported intercepting Iranian drones, and Iran’s parliamentary speaker accused the United States and Israel of breaching several agreement points. Iran’s Revolutionary Guards warned of a “regret‑inducing response” if Israeli strikes on Lebanon continue. The latest Israeli barrage killed at least 254 people and wounded 837, prompting the Fars news agency to note that oil‑tanker traffic through the strait had been halted. Former President Donald Trump used his Truth Social platform to threaten that U.S. forces would remain in the region until a “real agreement” is fully honoured, warning that any non‑compliance would trigger “stronger than anyone has ever seen before” military action. Asian equity markets reacted negatively: Japan’s Nikkei slipped 0.7%, South Korea’s Kospi fell 1.7%, and Hong Kong’s Hang Seng edged down 0.4%. In Europe, the FTSE 100 dipped 0.1%, Germany’s DAX fell 0.6%, France’s CAC 40 dropped 0.3%, and Italy’s FTSE MIB slipped 0.2%. The pan‑European Stoxx 600 trimmed 0.1% after a near‑4% rally the day before, while U.S. futures pointed to a lower opening on Wall Street. Deutsche Bank strategist Jim Reid noted that market stress has eased compared with 24 hours earlier, as the ceasefire news generated renewed optimism and reduced fears of a stagflationary shock. On the diplomatic front, White House press secretary Karoline Leavitt announced that Vice‑President JD Vance will lead a delegation to Islamabad, with initial talks slated for Saturday morning. Jefferies chief European economist Mohit Kumar argued that, despite its fragility, the truce is likely to hold because of the “mutually assured destruction” calculus. He added that both sides now see a ceasefire as the lesser‑evil, given the escalating costs of continued conflict and the strategic challenges of securing cheap drone interceptors and a reliable Hormuz passage.

The UK Home Office has refused rapper Kanye West’s request to travel to Britain, stating that his presence would not be "conducive to the public good" after a wave of criticism over his anti‑Semitic comments and open admiration for Adolf Hitler.West, now performing under the name Ye, submitted a visa application on Monday for a headline slot at London’s Wireless Festival in July. The Home Office issued a denial on Tuesday, effectively barring him from entry.In response, the festival’s organisers announced the cancellation of the entire event and pledged to refund all ticket holders, underscoring the pressure from sponsors and politicians to distance the show from the controversial artist.Amid the controversy, West publicly offered to meet members of the British Jewish community, saying he wanted to demonstrate “unity, peace and love through music” and that “words aren’t enough – I’ll have to show change through my actions.”The backlash intensified after West released a track titled “Heil Hitler” and marketed a swastika‑bearing T‑shirt on his website, actions that have drawn widespread condemnation for glorifying Nazism.West has performed in the United States and Mexico City this year, but was barred from Australia in July 2023 for similar reasons. He later placed a full‑page apology in the Wall Street Journal, attributing his behavior to an untreated bipolar disorder.British government minister Wes Streeting dismissed the bipolar‑disorder explanation as “appalling,” while Prime Minister Keir Starmer called the decision to book West “deeply concerning” given his prior anti‑Semitic remarks and celebration of Nazism.The Campaign Against Antisemitism welcomed the Home Office’s move, stating that it “backed up its words with action” and affirmed that antisemitism has no place in the UK.West’s European tour continues to face resistance; the mayor of Marseille, France, publicly declared the rapper “not welcome” for a scheduled June concert.

The organiser of the Wireless Festival has reaffirmed that Kanye West, legally known as Ye, will appear on the bill, even as senior UK officials and Jewish organisations demand his exclusion over a series of antisemitic statements and admiration for Adolf Hitler.West’s controversial remarks, including a 2025 song titled “Heil Hitler” and the promotion of a swastika‑bearing T‑shirt, have drawn condemnation from MPs and prompted calls for a government ban. Bridget Phillipson, a senior minister, described his comments as “completely unacceptable and absolutely disgusting,” while Prime Minister Keir Starmer called the booking “deeply concerning.”Melvin Benn, managing director of Festival Republic, the promoter behind Wireless, said the artist is “intended to come in and perform” and stressed that the festival will not provide a platform for “extolling any opinion,” only for the songs that are popular on radio and streaming services. He added, “I am a deeply committed anti‑fascist… I lived on a kibbutz attacked on 7 October and support both a Jewish and a Palestinian state.”In a personal appeal, Benn invoked his experience with a family member’s mental illness, urging the public to extend “forgiveness and hope” to West, whom he described as seeking “second chances” in a “divisive world.” He also asserted that West has a legal right to enter the UK, though ministers are reviewing his entry clearance.Jewish leaders remain unconvinced. Phil Rosenberg, president of the Board of Deputies of British Jews, warned that Benn’s comments “will not reassure many within the Jewish community” and highlighted that West has “proclaimed himself a Nazi” while the festival stands to profit from his appearance.Political opposition has also weighed in. Liberal Democrat leader Ed Davey called for a ban on West’s entry, urging the government to act “tougher on antisemitism.”Commercial fallout has been swift. Pepsi and Diageo have withdrawn their sponsorship, and AB InBev announced it is pulling Budweiser and Beatbox support. PayPal confirmed it will no longer feature in the festival’s promotional materials.West has not performed in the UK since headlining Glastonbury in 2015, and his recent full‑page apology in the Wall Street Journal attributed his inflammatory remarks to bipolar‑1 disorder stemming from a 2002 car‑crash injury. Nonetheless, critics argue that a three‑day stage slot does not constitute a meaningful path to “health and healing.”

Jamie Dimon, chairman and chief executive of JPMorgan Chase, used his highly‑watched annual letter to shareholders to press the White House to strengthen economic cooperation with U.S. allies, warning that a decline in shared prosperity could produce "truly adverse consequences" for democratic nations.His message arrives as the Iran‑Israel conflict enters its sixth week, a war that has already rattled global energy markets. Economists cited in the letter caution that prolonged fighting could push oil prices above $170 a barrel, a level capable of triggering a worldwide recession.Dimon’s appeal is widely read as a thinly‑veiled rebuke of President Donald Trump. Earlier this year, Trump filed a $5 billion lawsuit against Dimon and JPMorgan, accusing the bank of “de‑banking” him. The timing of Dimon’s comments—just days after Trump’s aggressive rhetoric urging foreign governments to "go get your own oil"—underscores the growing rift between the bank’s leadership and the administration."Economic weakening of the world’s democracies or a fragmentation of their economic bonds could lead to truly adverse consequences," Dimon wrote. He warned that adversarial states aim to make allies less dependent on the United States, potentially turning them into economic “vassals” of hostile regimes.Beyond geopolitics, Dimon highlighted the broader macro‑economic outlook. He warned that the war could generate "sticky" inflation, higher commodity prices, and disrupted supply chains, which together may force interest rates higher than markets currently anticipate. He echoed other economists in warning that inflation could rise rather than fall in 2026.Despite these challenges, Dimon expressed optimism about the U.S. economy, affirming his belief that "the American Dream is alive." He also turned to emerging technology, noting that artificial intelligence could deliver breakthroughs in healthcare, manufacturing, and safety, ultimately shortening the work week and extending life expectancy.Dimon’s annual letter—spanning nearly 50 pages and more than 20,000 words—remains a barometer for Wall Street sentiment. In it, he also critiqued the administration’s tariff policy, arguing that while tariffs have forced renegotiations, a comprehensive foreign‑economic strategy should promote growth both for the United States and its partners.As transatlantic relations strain under soaring energy costs and divergent trade policies, Dimon’s call for a coordinated economic front underscores a pivotal moment: the United States must decide whether to lead a cohesive democratic coalition or risk ceding influence to autocratic powers.

Donald Trump has repeatedly framed inflation as a "hoax" and declared that he has "won affordability," yet independent analyses reveal that his touted initiatives deliver only marginal relief for most Americans.One of his most publicized programs, the TrumpRX prescription‑drug platform, lists just 61 medications out of the thousands needed nationwide. Moreover, price comparisons show that a medium dose of Wegovy costs $349 on TrumpRX, while the same dose sells for $163 in Japan and $198 in Germany. Similar gaps appear for diabetes drug Xigduo and autoimmune medication Xeljanz, which are significantly cheaper abroad.The website markets itself as a solution for uninsured, cash‑paying patients, but it does nothing for the roughly 85 % of Americans who already have prescription coverage.On housing, Trump’s executive order banning Wall Street firms from buying single‑family homes is unlikely to move the needle. Institutional investors own only about 2 % of such homes, while the nation faces a shortage of roughly 4.7 million units, according to Zillow. The ongoing war in Iran has also pushed mortgage rates higher, further straining affordability.Gasoline prices have surged since the Iran conflict began, climbing to an average of $4.10 per gallon – a 37 % increase from the pre‑war level of $2.98.Food costs tell a similar story. The Consumer Price Index shows a 3.1 % rise in overall food prices from February 2025 to February 2026, with coffee up 18.4 %, beef up 14.4 %, and fresh vegetables up 5.4 %. Tariffs championed by the administration have contributed to these hikes.International bodies echo domestic concerns. The OECD projects U.S. inflation to exceed 4 % this year, largely driven by the Iran war, a level higher than the 3 % rate recorded at the end of the Biden administration.Trump also claims to have eliminated taxes on overtime and Social Security benefits. In reality, overtime earnings are still subject to federal income tax on the base wage and to full Social Security and Medicare payroll taxes. Only the overtime premium enjoys a partial tax break. Likewise, more than half of Social Security recipients will continue to owe income tax on their benefits, contradicting the administration’s “no‑tax” narrative.Other initiatives, such as the “Trump Accounts” child‑savings program, provide a one‑time $1,000 seed deposit and allow families to contribute up to $5,000 annually. While beneficial for affluent households, the scheme offers limited assistance to families living paycheck‑to‑paycheck.Policy decisions have also raised costs for vulnerable groups. By opposing extensions of Obamacare subsidies, average health‑care premiums have risen by over 20 % for more than 20 million people. Simultaneously, proposed cuts to LIHEAP threaten heating and cooling assistance for roughly 6 million low‑income households.In sum, Trump’s affordability rhetoric serves more as political branding than substantive economic relief. The modest scope of his programs and the persistence of rising prices suggest that most working‑class Americans will see little improvement in their day‑to‑day expenses.

UK Prime Minister Keir Starmer has voiced his concern over Kanye West's upcoming performance at Wireless festival, citing the rapper's history of antisemitic remarks and admiration for Adolf Hitler.West, also known as Ye, has drawn widespread condemnation for his comments, including voicing admiration for Hitler and releasing a song called 'Heil Hitler'. He has also faced criticism for advertising a swastika T-shirt on his website.Starmer emphasized that antisemitism in any form is abhorrent and must be confronted clearly and firmly. He added that everyone has a responsibility to ensure Britain is a place where Jewish people feel safe and secure.The Jewish Leadership Council has condemned Wireless festival for booking West, calling the organisers' conduct 'deeply irresponsible'. Ed Davey, the Liberal Democrat leader, has called on the government to ban West from entering the UK, saying 'We need to get tougher on antisemitism.'West apologised in January for his antisemitic remarks in a letter published as a full-page advert in the Wall Street Journal, citing his bipolar disorder as a factor in his behaviour.

Rising fortunes among the ultra‑rich under the Trump administration have ignited a wave of tax‑reform campaigns across the United States. In California, volunteers like Karen Sanchez are gathering signatures for a one‑time 5% wealth tax targeting the state’s 200‑plus billionaires to offset federal cuts to hospitals, education and food‑assistance programs.At least ten states are exploring similar measures. Washington recently enacted its first income‑tax aimed at roughly 20,000 millionaire households, while Massachusetts and Minnesota already channel wealth‑tax proceeds into preschool, K‑12 meals and transportation infrastructure.On the federal front, Senators Bernie Sanders and Representative Ro Khanna have introduced the “Make Billionaires Pay Their Fair Share Act,” proposing an annual 5% levy on billionaire net worth. Khanna argues that the ultra‑wealthy fund private health insurers, defense contractors and political campaigns, creating a stark fairness gap.Data from Oxfam shows that in the twelve months after Trump’s re‑election, billionaire fortunes grew at a rate three times faster than the average annual growth of the previous five years. Meanwhile, the federal minimum wage has remained stagnant at $7.25 for fifteen years, underscoring the widening economic divide.A Data for Progress poll released last fall found that 70% of Americans believe the economic system favours corporations and the wealthy. “People are angry and want change,” says Amy Hanauer of the Institute on Taxation and Economic Policy (ITEP), noting that activists are leveraging every level of government to seek relief.The movement draws on a two‑decade history of class‑based activism, from the Occupy Wall Street protests to Senator Sanders’ 2016 campaign that foregrounded wealth‑tax proposals. Yet inequality has deepened: CEOs of the five largest U.S. firms now earn, on average, **$52 million** annually—over a thousand times the typical worker’s salary.Political spending by billionaires has also exploded. A recent New York Times analysis reveals that billionaire contributions rose from **0.3% of campaign funds in 2008** to **19% in 2024**, amounting to more than **$3 billion** from roughly 300 ultra‑rich donors, many of whom supported candidates opposing wealth taxes, including former President Donald Trump.The war in Iran has further inflamed resentment, with the United States spending **$11.3 billion** in the first week of bombardment—far exceeding the annual budgets of agencies such as the CDC, EPA and the National Cancer Institute.Local victories are feeding the momentum. New York City’s mayoral race saw Zohran Mamdani win on a platform that includes taxing the rich to fund affordable housing, groceries and transit. Councilmember Chi Ossé led a 1,500‑person march to the state capitol, urging Governor Kathy Hochul to permit a city‑level millionaire tax, a move that now has backing from some state Democrats.Beyond New York, states like Rhode Island, Hawaii, Pennsylvania, Virginia, Illinois and New Mexico are debating various wealth‑tax mechanisms, including the popular “mansion tax” on high‑value home sales. Currently, **17 localities** have adopted such taxes, most passed between 2018 and 2023.California’s gubernatorial race has become a flashpoint. Billionaire‑backed candidates Matt Mahan and Tom Steyer are vying to replace Governor Gavin Newsom, with the tech elite—such as Sergey Brin and Joe Lonsdale—pouring money into campaigns opposing the billionaire tax. Of the 30 billionaires who have contributed to the race, **25 supported Mahan**, who has positioned himself as a staunch anti‑tax candidate.For Sanchez, the stakes are personal. The proposed tax seeks to replace **$100 billion** in federal health‑care funding cut by Trump’s “One Big Beautiful Bill Act,” which threatens hospital closures and layoffs in the nation’s fourth‑largest economy. She aims to collect **875,000 signatures** by late June to secure the initiative on the November ballot.“It’s creating a network of groups all working toward a common good,” Sanchez says, reflecting a broader sentiment that collective action could finally translate the public’s demand for fiscal fairness into concrete policy.

The highly anticipated fifth season of the Cork-set comedy The Young Offenders premieres on BBC One at 9:30pm. The new season kicks off with Jock, played by Chris Walley, breaking out of a Colombian prison and reuniting with Conor, played by Alex Murphy, back in Ireland. Their adventures quickly take a turn as they find themselves in a hostage situation with an elderly couple while wearing floral dresses.Elsewhere on television, Rob Beckett brings his unique brand of humor to Sky One with his show Giraffe at 9pm. The comedian takes viewers on a stream-of-consciousness journey through topics like poshness, parenting, and pubes, often pushing the envelope with his audience.On Channel 4, The Last Leg continues its 34th series at 10pm, featuring presenters Adam Hills, Josh Widdicombe, and Alex Brooker. This week's guests include Josh Pugh, Lorraine Kelly, and Steve Bracknall.In addition to these shows, BBC One also airs Extraordinary Portraits With Bill Bailey at 7:30pm, highlighting the story of Eddie, the 'Iron Gran', who became the oldest British woman to complete an Ironman triathlon at 72. Meanwhile, Beyond Paradise airs at 8pm, with Humphrey solving a series of burglaries in Shipton Abbott.For film enthusiasts, The Wolf of Wall Street, directed by Martin Scorsese and starring Leonardo DiCaprio, is broadcast on BBC Two at 10pm. This financial crime caper is based on the memoir of stockbroker Jordan Belfort and features memorable performances from Matthew McConaughey and Margot Robbie.