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Time:2026-06-12T06:47:32Z

Oil prices dropped and global stocks rallied after Trump called off strikes on Iran and signaled a peace deal may be near. Ousted South Korean President Yoon Suk Yeol was sentenced to 30 years in prison over a Pyongyang drone plot. UK Prime Minister Keir Starmer faced fresh turmoil as two top defense officials resigned over military spending. SpaceX made its public market debut in the world's largest IPO, driving debate over its $1.77 trillion valuation.

Former South Korean President Yoon sentenced to 30 years over drone plot

Former South Korean President Yoon sentenced to 30 years over drone plotThe ousted South Korean president Yoon Suk Yeol has been sentenced to 30 years in prison over a drone plot targeting Pyongyang. Multiple international outlets including CNN, AP News, and NPR covered the landmark sentencing. The case centered on allegations that Yoon authorized drone flights over the North Korean capital. The sentence marks one of the most significant legal actions against a South Korean leader in recent history.

Two top UK defense officials resign over military spending

Two top UK defense officials resign over military spendingTwo senior UK defense officials have resigned from Keir Starmer's government, delivering a fresh political blow to the prime minister. The resignations came with a scathing critique of the government's defense spending policies. BBC, CNN, and CBC all reported on the fallout, which raises questions about Starmer's leadership and the UK's military preparedness.

Trump calls off Iran strikes, cites progress in talks to end war

Trump calls off Iran strikes, cites progress in talks to end warPresident Trump has called off planned military strikes on Iran, citing breakthroughs in negotiations to end the ongoing conflict. While Trump claimed a deal is near, Tehran has stated that nothing has been finalized yet. Trump had previously threatened to hit Iran very hard and take over its oil sectors, but now suggests a settlement could be signed within days.

Global markets rally as Trump signals Iran peace deal

Global markets rally as Trump signals Iran peace dealStock markets surged following Trump's announcement that he would cancel further strikes on Iran and touted a potential peace deal. Oil prices fell sharply on the news, reflecting reduced risk premiums. Al Jazeera, NPR, and The Guardian covered the market reaction as investors reacted to the prospect of de-escalation in the Middle East.

SpaceX goes public in world's largest IPO

SpaceX goes public in world's largest IPOSpaceX has made its market debut in what is being called the world's largest IPO, further cementing Elon Musk's influence. The company's valuation has sparked debate, with some investors questioning whether it is truly worth $1.77 trillion. Early employees who accumulated shares over the past 15 years are now seeing significant windfalls, as the BBC and NYT reported.