US President Donald Trump said his tentative ceasefire with Iran is done, raising the prospect of a renewed military conflict between the two countries.

“For me, I think it’s over,” he said on Wednesday in Ankara, sitting next to NATO Secretary General Mark Rutte at the military alliance’s annual summit. “As far as I’m concerned it’s just a waste of time.”

Trump’s remarks came shortly after the US launched a new wave of strikes against Iran and revoked a waiver that allowed the sale of Iranian oil. The actions, taken in response to recent attacks on ships transiting the Strait of Hormuz, brought fresh volatility to energy markets and tested an already fragile peace agreement between Washington and Tehran.

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Twelve countries, including the UK, are set to spend more than £37bn ($50bn) over the next 10 years on a new long-range missile to protect Europe.

The Deep Precision Strike project has just been unveiled by No 10 and is due to be discussed later on Wednesday at the NATO summit in the Turkish capital, Ankara.

Sir Keir Starmer is there for his final NATO summit as prime minister. He is likely to face some criticism from US President Donald Trump for failing to set out a plan for reaching 3.5% of GDP spent on defence by 2035, a target agreed by nearly all Nato members last year.

(Continue Reading - BBC)

Anthropic has been in the political crosshairs lately. But the business consequences aren’t as dire as they might seem. And among its AI rivals, there will be plenty of political risk to go around.

The AI-model developer is embroiled in a legal fight with the Trump administration, which deemed it a security risk earlier this year after the company declined to give the Defense Department unfettered access to its tools. That battle escalated last month with a government move that forced Anthropic to cut off access to its most-advanced models.

(Continue Reading - WSJ)

South Korea's Kospi, the world's best performing market of 2026, entered bear market territory on Wednesday, plunging 20% from its peak of 9,386 as tech rout after a massive rally continued to keep investors on edge.

On Wednesday, the country’s benchmark index Kospi plunging another 4% or 310 points to 7,347, to extend losses for the third consecutive session. This came as heavyweight Samsung Electronics saw its share price fall nearly 4%, while peer SK Hynix gained 1%. Battery maker LG Energy Solution slid 4%.

(Continue Reading - ET)