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NATO leaders agree to ramp up defence spending to 5% of GDP, with Europe breathing a sigh of relief as U.S. President Donald Trump renews his commitment to the military alliance. Over in Brussels, attention now turns to the European Council summit - with the bloc's leaders set to discuss how to align defence efforts around ongoing support for Ukraine and a volatile situation in the Middle East. Meanwhile, Shell denies renewed reports it is in early stage talks to buy rival BP - a deal that could create an energy giant worth some £200 billion. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Donald Trump heads to the NATO summit in the Hague, with Secretary-General Mark Rutte hailing the U.S. President's 'big success' as leaders back deeper defence spending. Meanwhile, President Trump insists Iran's nuclear sites were 'completely destroyed' by US strikes, despite NBC sources suggesting the operation only set the country's nuclear programme back by as little as three months. Wall Street rallies on signs the ceasefire is holding, while crude prices look to claw back some of this week's losses. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump announced on Truth Social that an Iran-Israel ceasefire is in effect, calling on both nations to stand down weapons and stick to the agreement. Meanwhile, the leaders of France and Germany say NATO's new spending target will strengthen its European pillar ahead of a crucial summit in the Hague, with Secretary General Mark Rutte pledging action. In Germany, industry leaders weighed in on the impact of conflict in the Middle East, with Deutsche Bank CEO Chirstian Sewing telling CNBC the corporate world is now better prepared to weather the storm.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S strikes three Iranian nuclear facilities over the weekend and President Trump has hinted at potential regime change in the country. Iranian foreign minister Abbas Araghchi has warned of a hard-hitting response while European leaders have urged a return to the negotiating table. Oil moves higher but markets are sanguine despite the Iranian parliament's vote to close off the Strait of HormuzSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The White House has announced that a decision whether to strike Iran will be made with two weeks as talks continue. Iran's foreign minister, Abbas Araghchi, is due to meet European counterparts in Geneva later today in a bid to make a last-minute deal to avert further conflict. Spain has pushed back against NATO demands to increase its defence bill to 5 per cent of GDP. Prime Minister Pedro Sanchez has called the aim ‘counter-productive'. And in M&A news, Unicredit CEO Andrea Orcel has said his bank is likely to withdraw its offer for rival lender Banco BPM despite receiving the EU's approval of the move. Orcel said he believed Unicredit would flourish with or without the takeover. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Israel has confirmed it has struck nuclear sites in Iran overnight but U.S. President Trump says he has not yet made a final decision on whether to join the campaign and will announce his move at short notice. The U.S. Federal Reserve keeps rates steady but policy makers suggest two cuts by the end of the year. Chairman Jerome Powell has warned that tariffs will lead to price increases. The BoE, the SNB and the Norges Bank are due to make rate decisions later today. And we are live at the London Stock Exchange where the AIM exchange celebrates its 30th anniversary with almost £136bn raised so far. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump has called for Iran's ‘unconditional surrender' in its conflict with Israel. NBC News reports that Trump is mulling a direct military strike on the country. We are live at the Paris Air Show where the CEOs of Saab and Leonardo tell CNBC that Europe's defence depends on broader budgets and less fragmentation between nations. UK May inflation figures come in at 3.4 per cent year-on-year ahead of tomorrow's BoE rate decision.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump leaves the G7 summit in Alberta, Canada early, reportedly flying back to Washington to attend the Situation Room. He issued a warning to Tehran's residents to evacuate from the city and suggested his return pertained to something ‘much bigger' than a ceasefire in the Middle East. The U.S. and UK have formally agreed on a trade deal with British auto makers and the aerospace sector spared President Trump's levies. Steel and aluminium tariffs, however, remain in place for the time being. We hear from Shell CEO Wael Sawan who says his company will continue to guarantee energy production and delivery despite the escalating conflict in the Middle East.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The conflict between Israel and Iran enters its fourth day. NBC News confirms that U.S. President Trump rejected Israel's proposal to assassinate Iran's Supreme Leader Ayatollah Ali Khamenei. G7 leaders arrive in Calgary, Canada with the wars in Ukraine and the Middle East at the forefront of the agenda but tariff talks will weigh on discussions between President Trump and other heads of state. Renault CEO Luca De Meo is to step down as CEO of the French autos giant and pursue a role outside the sector. Reports in French media suggest he may next take the helm at Gucci owner Kering.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Israel has launched unilateral overnight airstrikes in Iran, targeting key nuclear infrastructure and military sites as well as killing the head of the army and the leader of the IRGC. Iran's supreme leader, Ayatollah Ali Khamenei has vowed ‘extreme punishment' against Israel. Tehran has launched up to 100 drones towards Israel in retaliation. Oil spikes to its highest level in almost 5 months as investors rush to safe-haven stocks amid the volatility. World leaders have reacted with UK Prime Minister Keir Starmer urging calm while Riyadh slams the move as a violation of sovereignty and international law.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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President Trump says the U.S.-China trade agreement is complete following this week's framework deal in London. Commerce Secretary Howard Lutnick says the two sides could begin to benefit from the tariff truce almost immediately. Market reaction, however, has been tepid with European equities set to open lower while oil is up on renewed fears of escalation between Israel and Iran. We hear from French President Emmanuel Macron at Vivatech in Paris who says the deal between France's Mistral AI and chip giant Nvidia marks a ‘game-changing' moment for European technology. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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U.S. and Chinese trade delegates complete a late-night framework agreement in London to continue the trade truce between the world's largest two economies. U.S. Commerce Secretary Howard Lutnick hailed the positive and constructive nature of the talks. UK Chancellor of the Exchequer, Rachel Reeves, is to set out $2tn in public spending as the government aims to stem haemorrhaging public opinion. The EU is reportedly ready to greenlight Italian lender Unicredit's bid to buy up rival BPM. The move could place Brussels at loggerheads with Rome which has invoked its ‘golden powers' rule that allows the government to impose conditions or exercise a veto over companies holding nationally strategic assets. French tech company Mistral AI unveils its first reasoning model which uses multiple languages.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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High-level U.S.-China trade talks enter a second day in London with reports stating that Washington may relax chip export controls if Beijing agrees to speed up rare earth exports. President Trump says ‘opening up' China would bring global benefits. U.S. Marines are deployed in Los Angeles where protests against ICE deportations of illegal immigrants continue. California Democrats say the move violates federal law. OpenAI posts annual recurring revenue of $10bn thanks to growth in its consumer and business ChatGPT products.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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U.S. and Chinese officials meet in London in an attempt to cool trade tensions and potentially re-negotiate tariffs. The EU and China agree on fast-tracking rare earth exports with Beijing expecting reciprocal measures to promote trade in high-tech products with the bloc. President Trump deploys the National Guard in Los Angeles following three days of violence over federal deportation and illegal immigration laws.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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A spectacular falling-out between President Trump and Elon Musk causes Tesla shares to plummet but the pair are reportedly set to mend fences in a phone call later today. President Trump hails his relationship with Chinese counterpart Xi Jinping following a trade-focused call. Trump said he had accepted an offer to visit Xi “at a certain point”. Trump and German Chancellor Friedrich Merz showed a cordial relationship during talks at the Oval Office but the American leader remained cautious about the prospect of a near-term end to the conflict between Russia and Ukraine. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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The CBO says that President Trump's BBB could add almost $2.5tn to the U.S. deficit. Tesla CEO Elon Musk, who oversaw Doge cuts to government waste, has urged lawmakers to ‘kill the bill'. We hear from London Mayor Sadiq Khan who says he welcomes Prime Minister Keir Starmer's efforts to strike a trade deal with President Trump but that trade ties with the EU should be deepened. And we are live at Berlin's private markets Super Return conference where increasing opportunities around Europe are the focus of discussions. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Elon Musk slams President Trump's budget bill describing it as ‘an abomination' that will balloon the deficit. Doubled U.S. levies come into effect today but the UK escapes 50 per cent tariffs on steel. And we are live in Berlin at the Super Return forum where top names in private markets with around $50tn in assets are gathering.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Washington is reportedly demanding countries put forward their best trade talk offers by tomorrow as the reciprocal tariffs deadline of 8 July draws nearer. The EU has responded saying it will push for tariff cuts with the U.S. in meetings scheduled this week. The bloc has repeated its threats of counter-measures should an agreement fail to be reached. We hear from German Steel Association head Gunnar Groebler who says American companies are also being affected by the levies. And in the UK, Prime Minister Keir Starmer has promised the largest sustained increase in defence spending since the end of the Cold War. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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The EU says it is mulling counter-measures after President Trump's steel tariffs doubles tariffs on steel imports. The U.S and China accuse each other of not respecting the trade agreement made in Geneva last month. In Poland Karol Nawrocki wins the presidential election to dent Prime Minister Donald Tusk's centrist agenda. And in M&A news, French pharma giant Sanofi has moved to snap up U.S. firm Blueprint Medicines in an $9bbn all-cash deal.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A U.S, federal appeals court has temporarily reinstated President Trump's tariffs just a day after the U.S. Court of International Trade ruled he had overstepped his authority in imposing the levies. President Trump summons Federal Reserve Chairman Jerome Powell to the White House over his interest rate policy stance. Powell has insisted his rate decisions will remain data-based. And we are live in Dubrovnik where global economic policymakers are gathering for the Croatian National Bank/IMF meeting. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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A U.S. court has ruled that a majority of President Trump's tariffs, including reciprocal levies, which were tied to the Emergency Economic Powers Act were an overstep of presidential authority. The White House has filed a notice of appeal with the court. Chip giant Nvidia sees shares soar following the company posting a better-than-expected Q1 revenue beat of 69 per cent. CEO Jensen Huang has criticised the U.S. government's chip export restrictions to China. Tesla CEO departs the U.S. government in his advisory role a day after calling a GOP budget bill to fund President Trump's agenda ‘disappointing'. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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All focus is on A.I. chip giant Nvidia which is due to report quarterly results after the U.S. bell today. Investors will be scrutinising how the company is faring following a $5.5bn China export hit. U.S. consumer confidence for May shows a sharp rebound, lifting equities out of a four-day slump in the red and helping the USD to its best performance in recent weeks. In Europe, Germany's DAX posts a new record close, boosting yearly gains by more than 20 per cent as automotive and arms manufacturer Rheinmetall almost triples its market cap. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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President Trump's tariff postponement helps to boost sentiment in Europe with French and German stocks starting the week solidly in the green. The autos and aerospace sectors lead gains. ECB President Christine Lagarde says that the euro could rival the dollar in times of political volatility if the bloc can succeed in strengthening its security and capital markets. And in autos news, Tesla's April sales in Europe decline by more than 50 per cent on the year while petrol car sales also slow by a fifth. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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President Trump postpones EU tariff talks until July following a phone call with EC president Ursula Von Der Leyen to grant the bloc a reprieve from his threat of a 50 per cent levy. In Asia, Apple iPhone suppliers are in the red following Trump's threat of a 25 per cent tariff on the company's phones manufactured outside the U.S. Chinese automaker BYD cuts prices by up to 35 per cent as concerns over a global price war intensify.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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U.S. yields and the 30-year note rise above 5 per cent as U.S. debt burden worries persist. The U.S. House of Representatives passes President Trump's tax and spending bill by a single vote that could add $4tn in U.S. debt. The bill is now due to makes its way through the Senate. We are live in Athens where Greek Prime Minister Kyriakos Mitsotakis tells us exclusively that he believes the U.S. and EU are close to agreeing a trade deal with the possibility of lowering the 10 per cent Trump tariff baseline figure.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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The House of Representatives holds an all-night session as the GOP looks to push President Trump's budget bill. The proposed tax cuts are expected to add trillions of dollars to the country's deficit in the next 10 years. As a result, European markets are in the red and are due to track Wednesday's disappointing session. And in tech news, Open A.I. is to buy the A.I. device start-up belonging to former Apple designer Jony Ive. The all-stock deal is said to be worth $6.4bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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President Trump calls on Republican ‘holdouts' to agree to his budget plans in a private meeting. Trump said he was confident the bill would soon be passed as law. Our colleagues Stateside sit down with Tesla CEO Elon Musk who says he wants to continue at the helm of the auto maker for the next 5 years and is committed to ramping up the number of autonomous vehicles on U.S. roads by next year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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EV Battery maker CATL lists on the Hong Kong stock exchange, sending shares soaring. It's the world's largest IPO this year. UK Prime Minister Keir Starmer re-sets relations with the EU, promising to boost Britain's global trade standing but the move provokes anger domestically. JP Morgan Chase CEO Jamie Dimon says markets and central banks are ‘complacent' about risk amid a ballooning U.S. deficit, tariffs and rising global tensions.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Global markets fall and yields jump as Moody's cuts its U.S. credit rating - the first time in history that the country hasn't held a perfect AAA rating with any of the major agencies. Attention turns to London as the U.K. and EU near a historic reset of trade relations - as Ryanair CEO Michael O'Leary calls for closer ties between the two sides.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump concludes his multi-stop Middle East tour having signed mega A.I. and aviation investment deals in Abu Dhabi, Doha and Riyadh but has raised concerns among some of his administration regarding advanced A.I. security restrictions. UK Prime Minister Keir Starmer is in Albania for talks with European counterparts on a potential post-Brexit deal. Youth mobility and fishing rights will be key topics on the agenda. Swiss luxury firm Richemont sees a rise in quarterly sales and manages to narrowly scrape a beat but warns of continuing global economic uncertainty. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.