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Daily Briefing

By Kate Turton

Hello. The U.N. halts the escort of ships through Hormuz after a vessel comes under attack, as Vance and Rubio strike a different tone on Iran and Israel.

The killer heat engulfing Europe would have been "virtually ‌impossible" without climate change, and rescuers work through the night to save Venezuelans trapped in quake rubble.

Plus, NATO allies promised Trump they’d secure the Arctic; they've got work to do.

Today's Top News

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 24, 2026. REUTERS/Stringer

The U.N. International Maritime Organization paused its operation to escort ships through the Strait of Hormuz after a vessel reported an attack, reigniting concerns about whether a preliminary deal to end the Iran war ‌will hold.
President Donald Trump's administration has pushed hard to present a united front on the Iran war, but statements by his vice president and secretary of state have diverged at times over the past week, especially on the subject of Israel.
The US Supreme Court handed Trump two big wins for his immigration agenda, clearing the way to turn back asylum seekers at the border and deport hundreds of thousands of Haitians and Syrians. Correspondent Will Dunham has more on the Reuters World News podcast.
Hundreds of people in Venezuela were trapped under rubble and many more remained unaccounted for after two powerful earthquakes devastated areas in and around the capital Caracas, killing hundreds, damaging buildings and leaving thousands homeless.
The record-breaking heatwave engulfing Western Europe would have been "virtually ‌impossible" without human-caused climate change, which has made this week's soaring night-time temperatures 100 times more likely than they would have been just two decades ago, scientists said.
South Korea will rapidly expand its drone and counter-drone capabilities to counter North Korea, including by training 500,000 "drone warriors" and distributing tens of thousands of unmanned systems across frontline units.
And South Korea's former First Lady Kim Keon Hee was sentenced to seven years in jail for receiving bribes, after a court found her guilty of accepting luxury items such as jewellery and a Dior handbag in exchange for political favours.

Business & Markets

Volkswagen CEO Oliver Blume is aiming to cut up to 100,000 jobs and end production at four German plants in what would be the biggest overhaul in the company's 89-year history, Manager ‌Magazin reported.
Polestar said the Trump administration was forcing the electric-vehicle maker to stop selling vehicles in the United States beginning in the ‌2027 model year as Washington ramps up its crackdown on Chinese vehicles.
The dollar heads into the second half of 2026 on a high, thanks to bets for higher US interest rates and an unquenchable thirst for US assets from investors chasing the "American exceptionalism" that may spell more pain for other currencies.
Apple raised iPad and MacBook prices, saying it could no longer shield customers from soaring memory and storage chip costs driven by the AI industry's datacenter buildout.
Samsung will pledge $648 billion in South Korea over the next decade, a media report said, in a sweeping effort to turn a global AI-driven chip boom into a ‌nationwide growth engine.
Germany's proposed pension reforms will ease pressure on younger workers struggling to accumulate wealth in the face of a weak economy and high housing costs, but analysts say the path to financial stability remains steeper than that of their parents.

The Week Ahead

"The Great American State Fair" opened on Washington's National Mall to start a 16-day celebration of the country's 250th anniversary.
The ECB hosts a central banking gathering in Sintra, Portugal, welcoming Kevin Warsh in his first trip ⁠since becoming the new Fed chief.
Next week's US employment report will be released against a backdrop of increased speculation over whether the Fed will hike rates this year.
Here's a roundup of all you need to know about the week ahead in world markets.
Join us on Tuesday June 30, for a Reuters NEXT Newsmaker featuring Sixth Street Vice Chairman & Partner R. Martin Chavez.

NATO allies promised Trump they’d secure the Arctic; they've got work to do

Norwegian soldiers take part in a static display of military vehicles and aircraft in Setermoen, Norway, March 12, 2026. REUTERS/Bernadett Szabo

During a frozen morning in Arctic Norway, a group of British and Norwegian soldiers padded softly through a snow-blanketed birch forest.

They were on a simulated NATO reconnaissance mission, among some 30,000 troops who took part in a drill rehearsing a counter-attack against an invading "enemy to the east," a euphemism for Russia, Norway's Arctic neighbor.

The exercises were part of a ‌stepped-up effort called Arctic Sentry that aims to show Washington that Europe and Canada can defend the alliance’s northern flank. Secretary General Mark Rutte announced Arctic Sentry in February as he lobbied Trump to drop a push to acquire Greenland.

Rutte was successful with Trump, but significantly strengthening the alliance’s Arctic posture is more challenging, interviews with dozens of current and former NATO officials and Arctic experts show.