Shares of SpaceX climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s business empire into one of the most-valuable public companies in the world.

The stock climbed as high as $176.52, or 31% above its offering price, in afternoon trading in New York. The jump in price turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion. (Bloomberg – Continue Reading)

The United States and Iran signalled on Friday that an agreement to end their war was close, with a senior U.S. administration official ⁠saying a text was in place that both sides like.

Iran's decision-making bodies were meeting to discuss the memorandum, Iran's foreign ministry spokesperson said.

Pakistan, which has for weeks sought to broker a deal, said a final text of a peace agreement between the United States and Iran had been reached. (Reuters – Continue Reading)

The US’ top general made a secret, rushed visit to US Central Command headquarters in Florida late last month to be briefed in person on plans for the US military to send ground troops into Iran to forcibly seize its highly enriched uranium, the key component necessary to produce a nuclear weapon, two sources familiar with the matter told CNN.

The briefings were so urgent and sensitive that they required Gen. Dan Caine, the Chairman of the Joint Chiefs of Staff, to rush from a meeting of senior NATO officials in Brussels back across the Atlantic to Tampa, Florida, on May 19, the sources said. The high-level and pressing nature of the briefings underscores how close the administration came to greenlighting the high-risk ground operation, sources said.

A Joint Staff spokesperson declined to comment about the preparations for a potential operation. (CNN – Continue Reading)

Underlying UK economic activity remained resilient despite a contraction at the start of the second quarter.

Data from the Office for National Statistics showed GDP grew 0.7% in the three months to April, a tenth stronger than the three months to March and in line with expectations. Statisticians said the bulk of that growth came in February and March.

On the month, the economy contracted 0.1% in April, matching forecasts and slowing from March’s 0.3% expansion.

ONS Director of Economic Statistics Liz McKeown said services output continued to drive growth, with notable strength in computer programming, marketing and wholesale trade over the three-month period. Construction also showed further signs of recovery after a weak winter. (LiveSquawk – Continue Reading)

Rachel Reeves’s prospects of remaining as Chancellor under a change of Prime Minister have been dealt a “fatal blow” following the resignation of John Healey, senior government insiders believe.

The former defence secretary laid the blame for his decision to quit on Thursday squarely at the door of the Treasury, which he said was “unwilling” to meet the level of defence spending he believes is needed over the next ten years.

He was followed out of the Ministry of Defence by Al Carns, who warned the funding plan did not have enough money behind it and was not “transformational” in the way it responds to the challenges of modern warfare. (i Paper – Continue Reading)

David Hockney, an English painter, photographer, stage designer, printmaker and draftsman who long made Southern California his muse and his home, and the fleeting beauty of life's smallest moments the grand theme of his shape-shifting art, died June 11 at his home in London. He was 88. (Washington Post – Continue Reading)