Musk's SpaceX buys AI coding start-up for $60bn days after IPO

Musk's SpaceX buys AI coding start-up for $60bn days after IPO

Just days after its triumphant public debut, SpaceX is already throwing its financial weight around with a blockbuster $60 billion acquisition of an AI coding startup—a clear signal that Elon Musk is doubling down on software to complement his hardware empire. The timing is certainly electric. Since pricing its initial public offering at $135 per share, the aerospace juggernaut has watched its stock rocket roughly two-thirds higher in a blistering rally. That surge has propelled SpaceX's market capitalization to a staggering $2.9 trillion, narrowly overtaking Amazon's $2.7 trillion valuation—though it still trails giants like Microsoft, Apple, Alphabet, and Nvidia. This historic listing didn't just shake up Wall Street; it officially minted Musk as the world's first trillionaire. Unsurprisingly, that milestone has already reignited fiery global debates around wealth inequality and the feasibility of taxation on ultra-high-net-worth individuals. However, beneath these as...

Andrew was sub-letting Royal Lodge cottages, watchdog reveals

Andrew was sub-letting Royal Lodge cottages, watchdog reveals

For more than two decades, Prince Andrew enjoyed a pretty sweet deal at Royal Lodge—a 30-room mansion on the Windsor estate where he paid virtually no rent. But it turns out the arrangement was even sweeter than anyone realised. The UK's public spending watchdog has revealed that Andrew quietly pocketed undisclosed rental income by sub-letting three cottages on the estate, all while living rent‑free himself. And that's not all: the report also shows that King Charles personally covers the rent for Andrew's daughters, Princess Beatrice and Princess Eugenie, to live in central London palace apartments—even though neither carries out official royal duties. First, a quick recap of the Royal Lodge setup. Andrew landed the lease back in 2003, paying £7.5 million for repairs upfront. That hefty sum meant he didn't have to pay any monthly rent—a "peppercorn" deal in property jargon . But here's the twist the National Audit Office (NAO) has just uncovered: his leas...

'Crazy' phone call between Trump and Netanyahu complicates Iran talks

'Crazy' phone call between Trump and Netanyahu complicates Iran talks

It's rare when a high-stakes call between two world leaders gets boiled down to two simple words: "You're crazy." But that's exactly the dynamic at play right now, after President Trump confirmed a leaked report that he called Israeli Prime Minister Benjamin Netanyahu "crazy" during a recent, intense phone conversation. This remarkable breakdown between two of the world's most powerful allies is more than just a personal spat—it's a public mess that's directly threatening sensitive peace talks with Iran and exposing major fault lines in a crucial alliance. The Conversation Everyone Is Talking About The whole thing came to light after a bombshell report from Axios—and then took an even stranger turn when Trump himself confirmed the details during a podcast appearance. Here's what went down: According to sources, Trump and Netanyahu were on the phone about Israel's military operations against Hezbollah in Lebanon, especially after Israe...

Israel and Lebanon Agree to Implement Ceasefire If Hezbollah Stops Attacks

Israel and Lebanon Agree to Implement Ceasefire If Hezbollah Stops Attacks

A significant diplomatic breakthrough emerged from Washington, D.C., on June 3, 2026, as Israel and Lebanon reached a formal agreement to implement a ceasefire. The deal, which marks the most structured effort to de-escalate hostilities since March, is contingent upon a "complete cessation" of attacks by the Iran-backed militant group Hezbollah and its withdrawal from southern Lebanon. The announcement was made via a joint statement following the fourth round of high-level trilateral meetings brokered by the United States. According to the statement, the two sides have also agreed to swiftly advance the creation of “pilot zones” where the Lebanese Armed Forces will take exclusive control, to the exclusion of all non-state actors. A Conditional Ceasefire: Key Terms of the Deal The new agreement is far more detailed than previous attempts to halt the conflict, outlining specific obligations for both state and non-state actors. Hezbollah's Required Actions. The entire framew...

Philippines Faces Stagflationary Risks from Prolonged Strait of Hormuz Closure

Philippines Faces Stagflationary Risks from Prolonged Strait of Hormuz Closure

A sustained closure of the Strait of Hormuz poses severe stagflationary risks for the Philippines, combining higher inflation with weaker economic growth, according to an analysis published in early March 2026. The assessment highlights the country’s vulnerability to both energy shortages and broader economic disruptions stemming from the ongoing Iran conflict. Currency Vulnerability and Oil Price Sensitivity The Philippine peso is identified as particularly vulnerable in the current crisis. Analysts project that the USD/PHP exchange rate could rise above 60 levels if the conflict persists and the strait remains closed. This baseline assessment assumes a resolution after March 2026, with oil prices falling toward $70 per barrel, supporting a forecast of 58.00 for the peso by the fourth quarter of 2026. However, scenario-based modeling suggests that with oil prices at $90 per barrel, USD/PHP could range between 59.00 and 60.00. Should prices reach $100 per barrel, the exchange rate cou...

Trump Leaves Key Questions Unanswered as He Seeks to Calm Nerves Over Iran War

Trump Leaves Key Questions Unanswered as He Seeks to Calm Nerves Over Iran War

US President Donald Trump's address from the White House on Wednesday evening was, despite some speculation beforehand, largely a reiteration of statements he has made in recent days regarding the Iran war. During a 20-minute primetime speech, Trump stated that the "core strategic objectives" of the US-Israeli military operation were "nearing completion" after one month of conflict and projected that the operation would last another two to three weeks. The address included familiar threats against Iran, notably a repeated pledge to bomb the country "back to the Stone Age." Observers noted that the content of the speech closely mirrored the president's posts on his social media platform over the preceding week. Trump also sought to persuade the American public of the merits of the war. Analysts suggest there is a clear rationale for this effort, as opinion polls indicate that a consistent majority of voters disapprove of the military operation he la...

Oil Prices Jump and Shares Drop After Trump Threatens More Iran Strikes

Oil Prices Jump and Shares Drop After Trump Threatens More Iran Strikes

Oil prices began climbing again after US President Donald Trump reiterated threats to hit Iran "extremely hard" in the coming weeks and failed to provide concrete details on how the war will end. Brent crude briefly surged past $109 per barrel, and stock markets in the United States, Europe, and Asia fell following Trump's address from the White House. He stated that the US would complete its strategic objectives for the war "very shortly" and spend the next two to three weeks bombing Iran "back to the Stone Ages." Earlier on the same day, oil prices had dipped below $100 ahead of the speech on hopes that Trump would outline how the US would exit the conflict. However, his address largely repeated points he had made previously. Impact of the Iran War on Global Energy Supplies The Iran war has severely disrupted global oil and gas supplies. Oil shipments through the critical Strait of Hormuz waterway have mostly been halted after Iran threatened to att...

French-Owned Container Ship Transits Strait of Hormuz as Global Pressure Mounts to Reopen Waterway

French-Owned Container Ship Transits Strait of Hormuz as Global Pressure Mounts to Reopen Waterway

A French-owned container ship has successfully transited the Strait of Hormuz, marking the first passage by a major Western European shipping line since the outbreak of the US-Israeli conflict with Iran effectively closed the strategic waterway over a month ago. The transit occurred as the international community intensifies diplomatic efforts to restore freedom of navigation through a chokepoint that handles approximately one-fifth of the world’s oil and liquefied natural gas, with the United Nations warning of severe global economic consequences if the deadlock persists. The Transit: A Controlled Passage Under Iranian Oversight The vessel, a 5,500 TEU container ship registered in Malta and owned by the French shipping conglomerate CMA CGM, navigated the strait on April 2. According to tracking data analyzed by shipping analysts and confirmed by a French media outlet that is itself owned by CMA CGM, the ship followed a specific route hugging the northern course past Larak Island. Mar...