Author

admin

Browsing

Israel has launched what it called “preemptive strikes” against Iran and a state of emergency has been declared in Israel, according to the country’s Defense Minister Israel Katz.

“Following the State of Israel’s preemptive strike against Iran, a missile and drone attack against the State of Israel and its civilian population is expected in the immediate future” Katz said in a statement.

Iranian state media outlet IRNA reported repeated explosions could be heard in Tehran.

Israel’s National Security Cabinet had met throughout the night leading up to the attack in Iran, according to an Israeli official.

Israel has closed its airspace until further notice, according to the country’s ministry of transportation.

This is a developing story and will be updated.

This post appeared first on cnn.com

As the head of the secretive Islamic Revolutionary Guard Corps (IRGC) Major General Hossein Salami, was one of the most powerful men in Iran, overseeing its most potent military arm and reporting directly to its Supreme Leader Ayatollah Ali Khamenei.

On Friday he was killed in Israel’s Rising Lion strikes that have targeted Iran’s nuclear program and senior military leaders in an attack that Prime Minister Benjamin Netanyahu said will last many days.

Iranian state media reported Salami had been killed by a strike on the IRGC’s headquarters in the capital Tehran. His death, along with other ranking members of Iran’s military, could hamper Iran’s response to the attack, analysts say.

“Without a doubt, Major General Salami was one of the most distinguished commanders of the Islamic Revolution — present on all fronts of scientific, cultural, security, and military jihad,” the Islamic Revolutionary Guard Corps (IRGC) said in a statement on Friday.

“In all arenas, he stood at the frontlines with a spirit of sincerity, wisdom, and devotion to the Supreme Leader, defending the ideals of the Revolution and the Iranian people,” the statement added.

Born in 1960, according to a US sanctions docket, Salami headed the secretive IRGC since 2019.

The position saw him helming one of the most powerful tools wielded by the Iranian state, which has been instrumental in crushing dissent at home and projecting Iran’s power abroad.

The IRGC boasts its own intelligence service, cyber operations unit, navy, and air force and analysts estimate it has up to 200,000 troops under its command. It also oversees Iran’s ballistic missile development, which Salami pushed to develop during his tenure.

In 2019 he said for the IRGC, ballistic missiles were “a way to end the story of American aircraft carriers.”

Analysts say the IRGC funds and supports a vast network of militias across the region which it uses to strike at US and other military personnel across the Middle East.

The IRGC is also believed to provide materials and support to Yemen’s Houthis, enabling the group to strike international shipping in the Red Sea and launch missiles and drones at Israel.

Salami was at the helm of the IRGC when Iran launched hundreds of drones and missiles at Israel in April and October last year, in the first direct strikes by Iran on Israeli territory.

In footage released by Iranian state media in January, Salami was seen inspecting what the media said was an underground military facility that had played a role in those attacks.

Wearing a green military uniform and short beard, Salami took the salute of soldiers in the cavernous underground complex and walked over the United States and Israel flags on the ground.

The site was now manufacturing “new special missiles,” semi-official Iranian media outlet Mehr News reported at the time.

In its statement confirming Salami’s death the IRGC said its command structure and other branches of the military were “fully prepared to deliver a decisive and harsh response.”

‘Do not come to the streets’

Salami was head when IRGC shot down a Ukrainian passenger jet shortly after it took off from Tehran’s international airport, killing all 176 people on board.

An unnamed IRGC commander of the Tor M1 surface-to-air missile defense system that shot down the plane was sentenced to 13 years in prison, according to Iran’s Mehr news outlet.

Salami apologized for unintentionally shooting down the Ukrainian plane and asked for forgiveness.

The IRGC is not only Iran’s most powerful military institution, it holds deep influence over domestic politics and the economy, with interests extending to and beyond the construction, telecommunications, auto and energy industries.

In 2022, amid weeks-long mass protests following the death of 22-year-old Mahsa Amini, who died after being detained by “morality police” allegedly for not abiding by the country’s conservative dress code, Salami warned Iran’s youth to stop demonstrating.

“Today is the last day of the riots. Do not come to the streets again. What do you want from this nation?” Salami said.

This post appeared first on cnn.com

Just yesterday at Ahmedabad airport, Sangeeta Gauswami clung tightly to her only child, her heart swelling with pride as she saw off her 19-year-old son from their home in the western Indian state of Gujarat, to begin a new chapter at university in London.

Now, less than 24 hours later, she sits frozen in shock and grief, in the same clothes she wore for that farewell – her world upended by a devastating crash.

Her son, Sanket, was among the 242 people aboard Air India flight AI171, which plunged from the sky just seconds after take-off – leaving only one survivor, and hundreds of shattered families.

The Boeing Dreamliner crashed into a medical college hostel, killing passengers, crew and people on the ground, bringing the death toll to at least 290 – one of India’s deadliest plane crashes in decades.

For hours, Gauswami clung to the faintest hope that Sanket had somehow made it out alive. But by Thursday night, hope had given way to heartbreak as she faced the unimaginable: offering her DNA to help identify her only child among the dead.

“We have had no news,” she chokes out, sat with her sister, who is also crying. “We keep asking but no one will tell us.”

DNA samples have been collected from more than 190 relatives at Ahmedabad Civil Hospital and are being verified against retrieved bodies from the crash site. It’s an agonizing process that could take up to 72 hours, according to state official Harshit Gosavi, who is overseeing the operation.

Grief fills the hospital hallways as families grapple with the loss of loved ones. In one corner, an elderly woman’s cries pierce the quiet sobs of others.

Friday’s sorrow is a stark contrast with the chaos of a day earlier, when relatives rushed to the hospital in the hope of finding their loved ones alive.

Manisha Thapa’s family sits shattered after rushing from their home in the eastern city of Patna on the first flight they could find after learning of the plane crash – knowing very well that the 27-year-old was among the cabin crew on the flight.

“I had spoken to her one day ago,” her mother says, voice trembling as she wipes away tears with a tissue offered by her daughter’s friend.

“We speak daily. She had called to let me know we won’t be able to talk because she would be on a long flight.”

Manisha’s father hasn’t stopped weeping since he gave his DNA sample Friday morning.

India’s Prime Minister Narendra Modi visited Ahmedabad Friday, inspecting the crash site and meeting the sole survivor, British national Vishwash Kumar Ramesh.

Ramesh’s story is being hailed as nothing short of a miracle. Video of him walking to help crash victims with a bloodstained shirt, and lying in hospital with a few cuts and bruises, are circulating widely on social media.

“At first, I thought I was going to die… I realized I was still alive and saw an opening near my seat. I managed to unbuckle myself. I used my leg to push through the opening and crawled out,” he told Indian state broadcaster DD News.

“Everyone around me was either dead or dying. I still don’t understand how I’m alive.”

While the authorities’ immediate focus is on confirming the number of casualties and providing support to the victims’ families, attention will soon turn to what caused the crash.

The US National Transportation Safety Board said it will lead a team that is heading to India to assist local authorities’ probe into the crash. The UK Air Accidents Investigation Branch has also formally offered its assistance to Indian authorities, following the crash.

This post appeared first on cnn.com

Procter & Gamble will cut 7,000 jobs, or roughly 15% of its non-manufacturing workforce, as part of a two-year restructuring program.

The layoffs by the consumer goods giant come as President Donald Trump’s tariffs have led a range of companies to hike prices to offset higher costs. The trade tensions have raised concerns about the broader health of the U.S. economy and job market.

P&G CFO Andre Schulten announced the job cuts during a presentation at the Deutsche Bank Consumer Conference on Thursday morning. The company employs 108,000 people worldwide, as of June 30, according to regulatory filings.

P&G faces slowing growth in the U.S., the company’s largest market. In its fiscal third quarter, North American organic sales rose just 1%.

Trump’s tariffs have presented another challenge for P&G, which has said that it plans to raise prices in the next fiscal year, which starts in July. The company expects a 3 cent to 4 cent per share drag on its fiscal fourth-quarter earnings from levies, based on current rates, Schulten said. Looking ahead to fiscal 2026, P&G is projecting a headwind from tariffs of $600 million before taxes.

P&G, which owns Pampers, Tide and Swiffer, is planning a broader effort to reevaluate its portfolio, restructure its supply chain and slim down its corporate organization. Schulten said investors can expect more details, like specific brand and market exits, on the company’s fiscal fourth-quarter earnings call in July.

P&G is projecting that it will incur non-core costs of $1 billion to $1.6 billion before taxes due to the reorganization.

“This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years,” Schulten said. “It does not, however, remove the near-term challenges that we currently face.”

P&G follows other major U.S. employers, including Microsoft and Starbucks, in carrying out significant layoffs this year. As Trump’s tariffs take hold, investors are watching Friday’s nonfarm payrolls report for May for signs of whether the job market has started to slow. While the government reading for April was better than expected, a separate reading this week from ADP showed private sector hiring was weak in May.

Shares of P&G fell more than 1% in morning trading on the news. The stock has fallen 2% so far this year, outstripped by the S&P 500′s gains of more than 1%. P&G has a market cap of $407 billion.

This post appeared first on NBC NEWS

LAS VEGAS. — Former Starbucks CEO Howard Schultz said Wednesday that he “did a cartwheel” in his living room when current chief executive Brian Niccol first coined his “back to Starbucks” strategy.

The enthusiasm from the 71-year-old Starbucks chairman emeritus is a key stamp of approval for Niccol as he tries to lift the company’s slumping sales and restore the chain’s culture.

Schultz, who grew Starbucks from a small chain into a global coffee giant, made a surprise appearance at the company’s Leadership Experience in Las Vegas and cosigned Niccol’s plans. The three-day event has gathered more than 14,000 North American store leaders to hear from Starbucks management as the company embarks on a turnaround.

Niccol took the reins in September, joining the company after the board ousted Laxman Narasimhan, Schultz’s handpicked successor.

Schultz had returned in 2022 for his third stint as chief executive, but it was only an interim role. He previously told CNBC that he has no plans to come back again. Schultz no longer holds a formal role within the company, although CNBC has previously reported that he’s forever entitled to attend board meetings unless barred by the company’s directors.

During Niccol’s first week on the job, he outlined plans for the comeback in an open letter, making the commitment to get “back to Starbucks.” More details on how the chain planned to return to its roots followed in the ensuing months, from bringing back seating inside cafes to writing personalized messages on cups. Under Niccol’s leadership, the company’s marketing has shifted to focus on its coffee, rather than discounts and promotions.

When Starbucks announced Narasimhan’s firing and Niccol’s hiring, Schultz issued a statement of support, saying that the then-Chipotle CEO was the leader that the company needs. However, the Leadership Experience marks the first time that Niccol and Schultz have appeared publicly together.

During Narasimhan’s short tenure as CEO, Schultz did not mince words when the company’s performance fell short of his expectations. After a dismal quarterly earnings report, he weighed in publicly on LinkedIn, saying the company needs to improve its mobile order and pay experience and overhaul how it creates new drinks to focus on premium items that set it apart.

But Schultz said Starbucks’ problems went further than just operational issues and lackluster beverages and food.

“The culture was not understood. The culture wasn’t valued. The culture wasn’t being upheld,” he said on Wednesday.

This post appeared first on NBC NEWS

Unlock the power of divergence analysis! Join Dave as he breaks down what a bearish momentum divergence is and why it matters. Throughout this video, Dave illustrates how to confirm (or invalidate) the signal on the S&P500, Nasdaq100, equal‑weighted indexes, semiconductors, and even defensive names like AT&T (T).

This video originally premiered on June 10, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.

Unlock the power of divergence analysis! Join Dave as he breaks down what a bearish momentum divergence is and why it matters. Throughout this video, Dave illustrates how to confirm (or invalidate) the signal on the S&P500, Nasdaq100, equal‑weighted indexes, semiconductors, and even defensive names like AT&T (T).

This video originally premiered on June 10, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.

Joe kicks off this week’s video with a multi‑timeframe deep dive into the 10‑year U.S. Treasury yield (TNX), explaining why a sideways coil just below the 5% level could be “downright scary” for equities. From there, he demonstrates precise entry/exit timingwith a combination of ADX, MACD, and RSI. Joe also covers the short-term divergence developing in the QQQ, takes a look at the IWM, and wraps up with some analyses of this week’s viewer symbol requests, including INTC, MU, and more.

The video premiered on June 11, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

A rare, first-generation Labubu figure has sold for $150,000 in Beijing at an auction held exclusively for the toys that have taken the world by storm.

The 131-centimeter (51-inch) mint green figurine with a gremlin-like appearance, sharp teeth and puckish grin went for 1.08 million yuan ($150,325) at the Yongle International Auction house that normally specializes in selling jewelry and modern art.

“Congratulations to the online buyer on collecting the world’s only such one,” said the auctioneer at an exhibition center in downtown Beijing on Tuesday afternoon.

Labubus are currently the trendiest plush toys on the planet, created by Hong Kong-born illustrator Kasing Lung and retailed by the Chinese toy giant Pop Mart.

In recent months, the bunny-bodied, elf-faced creatures — equal parts grotesque and adorable — have soared in popularity, sparking buying frenzies around the world, and in some cases, brawls among fans outside shops selling them.

Even in China, where Pop Mart is based and most of its toys are made, people are struggling to get their hands on Labubus.

A total of 48 Labubus were auctioned at the special event, billed as the “World’s First” auction of first generation collectible Labubus.

A brown, 160-centimeter (63-inch) Labubu figure, sold for $114,086, the second highest hammer price at the event. The company said only 15 such figures exist around the world.

Other figures went for more than $1,000 each.

“As a trendy toy in China, Labubu is now becoming a global artwork as it has truly sparked a craze around the world,” Zhao Xu, the founder of Yongle Auction, told state-owned outlet The Beijing News.

Zhao said the company plans to hold monthly livestream auctions for Labubu and other trendy artworks.

A pair of Minions-like Labubus sold at auction for 10,000 yuan ($1,391).

Buyers at the auction also had to pay an additional 15% brokerage fee on top of the hammer prices.

And it’s not rare to see a price inflation of Labubus due to the crazy demand in China. For instance, a blind box from the latest Labubu 3.0 series, originally priced at around $81, has been selling for up to $278 on the second-hand market, state-owned outlet Cover News reported.

Labubu’s viral popularity has been a booster for Pop Mart. Annual results show that the Chinese company’s global gross profit surged by over 125% last year, while its revenue in mainland China reached more than $1.09 billion, 34% higher than 2023.

This post appeared first on cnn.com

US President Donald Trump told Israeli Prime Minister Benjamin Netanyahu to end the war in Gaza and stop talk of an attack on Iran, according to a source familiar with the conversation.

The two leaders spoke on the phone on Monday. Trump later said the call went “very well, very smooth.”

The call for Israel to change course comes as Washington pushes for a nuclear deal with Iran and engages in indirect talks with Hamas over a ceasefire in Gaza.

Netanyahu convened his top ministers Tuesday night after there was “some progress” in negotiations toward a ceasefire deal, according to his office. The purpose of the meeting was to give updates on the negotiations and discuss next steps.

Earlier in the day, Israeli Foreign Minister Gideon Sa’ar said there had been recent progress in ceasefire talks that also aim to bring back hostages held in Gaza.

“Israel is serious in its will to secure a hostage deal. There has recently been certain progress,” Sa’ar told a news conference in Jerusalem, adding that “in light of past experience, I don’t want to overstate it at this point.”

On Thursday, Hamas said it remains open to the ceasefire deal proposed by US envoy Steve Witkoff, but said it requires stronger guarantees against Israeli attacks.

In a televised speech on Thursday, Khalil Al-Hayya, a high-ranking official in the militant group, said Hamas has not rejected Witkoff’s proposal but has submitted amendments with stronger security guarantees.

Hamas wants any deal to include a permanent end to the war in Gaza and a withdrawal of Israeli forces.

Growing rift

Trump and Netanyahu appear increasingly at odds over the war in Gaza as the conflict passes the 20-month mark. Netanyahu has made clear that his war goals include the complete disarmament and removal of Hamas, while Trump has pushed for an end to the war.

It’s one of several major issues in the region where a growing rift is emerging between the US and Israel. In recent weeks, the Trump administration bypassed Israel on a trip to the Middle East, reached a ceasefire deal with the Iran-backed Houthis in Yemen that failed to halt their ballistic missile attacks at Israel, and lifted sanctions on Syria – even as Israel warns against legitimizing a regime run by former jihadists.

Meanwhile, Trump said his administration is “trying to make a deal so that there’s no destruction and death” in Iran. The sixth round of talks between the US and Iran is slated to start in the coming days.

During their call, Trump asked Netanyahu to stop talking about an attack on Iran, the source familiar with the conversation said, and halt the leaks and reports about plans and preparations for an Israeli attack on Iran’s nuclear facilities.

The Trump administration has also been trying to expand the Abraham Accords, the landmark series of agreements from Trump’s first term that saw Israel normalize relations with the United Arab Emirates, Bahrain and Morocco.

But Saudi Arabia – whose agreement to such a deal would be the ultimate prize – has repeatedly made clear that it will not normalize relations with Israel without concrete steps towards recognition of a Palestinian state and a plan to implement the two-state solution.

US Ambassador to Israel Mike Huckabee said this week that a two-state solution is no longer a goal of US policy, as it had been for decades of both Republican and Democrat administrations.

“Unless there are some significant things that happen that change the culture, there’s no room for it,” Huckabee told Bloomberg News in an interview in Jerusalem. He said it won’t happen “in our lifetime.” Huckabee has previously advocated for Israeli settlements in the occupied West Bank and once said that “there’s really no such thing as a Palestinian.”

Earlier in the war, Trump laid out vague plans for a “Gaza Riviera” that envisioned US control of the coastal enclave and the displacement of large parts of the Palestinian population living there.

This post appeared first on cnn.com