Trump warns Tehran

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Daily Briefing

By Kate Turton

Hello. Iran and Israel launched new missile strikes at each other, and mass signal jamming in the Gulf is endangering oil tankers. Elsewhere, the US is set to drop guidance to limit alcohol to one or two drinks per day, and an early Fed chair nomination could rattle markets.

Plus, for those in the US celebrating, we have an explainer with everything you need to know about Juneteenth.

Today's Top News

An Israeli woman attends to a dog as people take cover inside a cable car tunnel following a missile attack from Iran, Haifa, June 17, 2025. REUTERS/Itay Cohen

Israel-Iran conflict

Thousands of people were fleeing Tehran and other major cities, Iranian media reported, as Iran and Israel launched new missile strikes at each other despite President Donald Trump calling for Tehran's unconditional surrender. The Reuters graphics team mapped the conflict between Israel and Iran.
Israel's command of Iranian air space leaves few obstacles in the way of its expanding bombardment, though it will struggle to deal a knock-out blow to deeply buried nuclear sites without the US joining the attack, experts say. Follow our live updates.
The first Chinese evacuees from Iran have started sharing on social media their desperate efforts to reach the Islamic Republic's borders and the safety of Turkmenistan, Armenia and Azerbaijan, as the Israel-Iran air war entered a sixth day.

In other news

Trump's early departure from the G7 Summit meant Ukrainian President Volodymyr Zelenskiy left without a Trump meeting or fresh arms support. Canadian Bureau Chief Caroline Stauffer tells the Reuters World News podcast other countries left almost empty-handed as well.
Los Angeles Mayor Karen Bass lifted a curfew imposed on part of the city's downtown to curb crime in the wake of raids on undocumented migrants that prompted protests.
US Dietary Guidelines are expected to eliminate the long-standing recommendation that adults limit alcohol consumption to one or two drinks per day, according to three sources familiar with the matter, in what could be a major win for an industry threatened by heightened scrutiny of alcohol's health effects.
Former President Jair Bolsonaro's son and allies have been formally accused by Brazilian federal police after a probe into the alleged surveillance of authorities by spy agency ABIN during Bolsonaro's time in office, a police source and local media said.
India's Prime Minister Narendra Modi told Trump that a ceasefire between India and Pakistan after a four-day conflict in May was achieved through talks between the two militaries and not US mediation, India's senior-most diplomat said.

Business & Markets

Among the uncertainties facing Federal Reserve officials as they debate the proper setting of monetary policy, one of the trickiest has been divining where inflation is going, especially over the longer run. For more, watch our daily rundown on financial markets.
Trump has said that he would soon nominate Jerome Powell's successor, with nearly a year left before the Federal Reserve chair's term ends. Investors said that could present a risky proposition for markets.
Mass signal interference since the start of the conflict between Israel and Iran has affected nearly 1,000 ships in the Gulf, according to Windward, a shipping analysis firm.
Wealth grew disproportionately quickly last year in the US, where over 379,000 people became new US dollar millionaires, more than a 1,000 a day, a report showed.
The US Senate passed a bill to create a regulatory framework for US-dollar-pegged cryptocurrency tokens known as stablecoins, in a watershed moment for the digital asset industry.
OpenAI CEO Sam Altman said that Meta has offered his employees bonuses of $100 million to recruit them, as the tech giant seeks to ramp up its artificial intelligence strategy.
At least six cities and municipalities across China have suspended trade-in subsidies for car buyers in June, according to Reuters' review of government announcements, which could slow new car sales in the world's second-biggest economy.

Oklahoma strives to become American hub for critical minerals processing

MHP sits in a bin under a filter press at Green Li-ion's facility in Atoka, Oklahoma, February 17, 2025. REUTERS/Nick Oxford/File photo

Nestled beneath Oklahoma's Wichita Mountains sits a two-story warehouse containing the only machine in the United States capable of refining nickel, a crucial energy transition metal now dominated by China.

The facility, owned by startup Westwin Elements, aims to help Oklahoma become the epicenter for US critical minerals processing, a sector the country largely abandoned decades ago.

Read more

And Finally...

Artist's conception depicts warm, thin gas in a vast region between galaxies, courtesy of Jack Madden, IllustrisTNG, Ralf Konietzka, Liam Connor/CfA/Handout via REUTERS/Illustration

The universe has two kinds of matter. There is invisible dark matter, known only because of its gravitational effects on a grand scale. And there is ordinary matter such as gas, dust, stars, planets and earthly things like cookie dough and canoes.

Scientists estimate that ordinary matter makes up only about 15% of all matter, but have long struggled to document where all of it is located.

Read more

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