- \n
- An end to the fighting,<\/b> followed by an extendable 60-day negotiation period aiming for a more detailed pact that will include a compliance-monitoring mechanism.\u00a0<\/span><\/li>\n
- Iran is banned from obtaining nuclear weapons<\/b> but \u201cwill maintain the current status quo of its nuclear program,\u201d it says.\u00a0<\/span><\/li>\n
- The blockades of the Strait of Hormuz will be ended,<\/b> allowing \u201cpassage of commercial vessels with no charge for 60 days.\u201d After that period, the \u201cfuture administration and maritime services\u201d of the Strait will go to Iran and Oman\u2014language which seems to leave open a backdoor for tolls.\u00a0<\/span><\/li>\n
- Iran will receive $300 billion<\/b> in an investment package coming mainly from international partners.<\/span><\/li>\n
- $100 billion<\/strong> in Iranian assets will be unfrozen.<\/li>\n<\/ul>\n
Conspicuous by its absence:<\/b> There is no mention of Iran curbing its proxy terror group, Hezbollah. In fact, <\/span>Israel continued to pound southern Lebanon<\/span> over the last 24 hours. That conflict isn’t done.<\/span><\/p>\n
Reaction: <\/b>Most countries are glad the war is over and that trade will flow through the Strait again. However, the U.S.\u2019s allies are fuming that the deal cements Iran\u2019s dominance of the Gulf region, leaves its nuclear power program in place, and does nothing to stop Hezbollah\u2019s attacks on Israel.<\/span>\u00a0\u00a0<\/b><\/p>\n
Israel\u2019s Netanyahu<\/b> regards the deal as a <\/span>strategic disaster<\/span>. It leaves Israel to fight Iran alone. Former vice president Mike Pence called it \u201c<\/span>appeasement<\/span>.\u201d Louisiana Republican Senator Bill Cassidy <\/span>said<\/span>, “this is the worst foreign policy blunder in decades.”<\/span><\/p>\n
THE MARKETS<\/h3>\n
Warsh to Wall Street: \u201cTwo\u201d means two\u2014and traders hated hearing it<\/b><\/h2>\n
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<\/div>\nThe U.S. Federal Reserve\u2019s latest policy statement was glib but definitive: \u201cWe will meet our price stability objective,\u201d new chairman Kevin Warsh wrote\u2014and then repeated again and again at his press conference. Inflation has been running above the Fed\u2019s 2% target for five years. Warsh called that unacceptable and kept saying so. \u201cThe \u2018two\u2019 is the left of the decimal point,\u201d he told reporters. \u201cFor now, \u2018zero\u2019 is to the right.\u201d <\/span><\/p>\n
The Fed held its benchmark interest rate at 3.5% to 3.75%<\/span>, as expected, but now nine out of 18 officials pencil in at least one hike this year, and the new statement stripped out the old easing bias. Markets threw a fit over it. The Dow fell 507 points after touching a record intraday high. The S&P 500 lost 1.2%, the Nasdaq 1.3%. By the close, money markets had moved an October hike to slightly better than a coin flip, when before almost nobody would\u2019ve bet on it, <\/span>Fortune<\/span><\/i>\u2019s Eva Roytburg reports<\/span>.\u00a0<\/span><\/p>\n
- \n
- S&P 500 futures<\/b> were up 0.93% this morning. The index lost 1.21% yesterday.\u00a0<\/span><\/li>\n
- In Europe,<\/b> the Stoxx 600 was down 0.4% in early trading and the U.K.\u2019s FTSE 100 was down 0.91% before lunch.<\/span><\/li>\n
- Asia: <\/b>South Korea\u2019s KOSPI was up 2.25%. Japan\u2019s Nikkei 225 was up 1.65%. India\u2019s Nifty 50 was up 0.34%. China\u2019s CSI 300 was up 21%.\u00a0<\/span><\/li>\n
- Brent crude<\/b> was under $78 per barrel this morning.<\/span><\/li>\n
- Bitcoin<\/b> was $64.1K.<\/span><\/li>\n<\/ul>\n
EUROPE’S MOST INNOVATIVE COMPANIES<\/h3>\n
The definitive list of organizations driving the continent forward<\/b><\/h2>\n
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<\/div>\nNow in its second year, Fortune Europe\u2019s Most Innovative Companies <\/span>spans 300 companies across 18 countries and 21 industries<\/span>, highlighting organizations that are pushing boundaries in fields ranging from healthcare and manufacturing to telecommunications, retail, and financial services. Each was evaluated across three dimensions of innovation: product, process, and culture.\u00a0<\/span><\/p>\n
POLITICS<\/h3>\n
Elon Musk may have accidentally chosen the future prime minister of Britain<\/b><\/h2>\n
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<\/div>\nToday is election day in Makerfield, a small constituency in Northwest England, which may be about to choose a future prime minister for Britain\u2014a decision that Elon Musk has unwittingly had a hand in. The vote is happening because the previous member of parliament tactically resigned to trigger a by-election, allowing the Labour party\u2019s mayor of Manchester, Andy Burnham, to stand for the seat. Burnham promised that if he wins he will challenge Keir Starmer, the U.K.\u2019s current prime minister, for the party leadership, and thus the premiership of Britain. Normally, this is a safe seat for Labour, and Burnham thus has a plausible path to becoming Britain\u2019s next PM by the end of the year. Starmer\u2019s personal polling numbers have collapsed and many Labour MPs would like to see him replaced with a fresh face.\u00a0<\/span><\/p>\n
There\u2019s just one wrinkle:<\/b> Musk.\u00a0<\/span><\/p>\n
For years, Musk has been using X to boost his anti-immigrant messages, frequently castigating Britain for being too generous to migrants. At one point, he predicted that \u201c<\/span>Civil war in Britain is inevitable<\/span>.\u201d Musk <\/span>has repeatedly retweeted posts by Rupert Lowe<\/span>, the leader of the U.K.\u2019s far-right Restore Britain party. As a result, Lowe\u2014a relatively obscure figure in Britain until Musk started boosting him\u2014now has 836,000 followers on X. <\/span>Restore is currently expected to take about 6.5% of the vote<\/span>.<\/span><\/p>\n
Unfortunately for Musk, that\u2019s a big enough slice of the vote to deny victory to Burnham\u2019s main opponent, Nigel Farage\u2019s Reform UK party, which is also anti-immigration. In other words, by boosting a tiny party that cannot win, Musk may have carved a path for Burnham and his soft-left faction in Labour to take control of No.10 Downing Street.<\/span><\/p>\n
- \n
- Expect the result of the vote count to become official in the small hours of Friday morning.<\/span><\/li>\n<\/ul>\n
MORE FROM FORTUNE<\/h3>\n
Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring a recent role: \u2018Nobody on that list gets that job\u2019<\/span> – Orianna Rosa Royle<\/span><\/p>\n
Meet the CEO of US Polo Assn: He grew up in one of America\u2019s poorest regions and now hosts Prince William and runs a $2.7 billion brand<\/span> – Orianna Rosa Royle<\/span><\/p>\n
The G7 just pledged to break China\u2019s rare earth grip \u2014 there\u2019s a lot of work to do<\/span> – Mia Osmonbekov<\/span><\/p>\n
Vanguard\u2019s alarming state of retirement in 2026: The average American has $167,970 in their account\u2014or they have $44,115<\/span> – Nick Lichtenberg<\/span><\/p>\n
CHART OF THE DAY<\/h3>\n
The stock market doesn\u2019t care who the new Fed chair is<\/b><\/h2>\n
<\/p>\n
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<\/div>\n<\/span><\/p>\n
If you\u2019re looking for a pattern in the stock markets related to the arrival of a new boss at the U.S. Federal Reserve, stop. There isn\u2019t one. \u201cWhile there’s always chatter about new Fed Chairs being \u2018tested\u2019 by markets, the truth is, a buoyant or rocky start often has more to do with external forces than the individual at the helm,\u201d Deutsche Bank\u2019s Jim Reid said in an email. \u201cThe data suggest a consistent theme: a new Fed Chair rarely dictates the market narrative. Instead, they often find themselves hostages to broader economic currents, whether positive or negative.\u201d<\/span><\/p>\n
NUMBER OF THE DAY<\/h3>\n
13.1%<\/h2>\n
The share of U.S. credit card loans that are 90 days or more past due, according to Goldman Sachs. That\u2019s \u201cback in line with the Global Financial Crisis peak,\u201d according to analyst Arun Manohar, and the rate is rising. \u201cThere remains meaningful stress among lower-income and lower-credit-score (‘subprime’) borrowers.\u201d<\/span><\/p>\n
<\/p>\n
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<\/div>\n<\/span><\/p>\n
THE FRONT PAGES TODAY<\/h3>\n
Trump and AI CEOs discuss global AI rules<\/span> – Axios<\/span><\/p>\n
Wall Street Hiring Dilemma: AI Can Model\u2014but Can\u2019t Make\u2014the Next Rainmaker<\/span> – WSJ<\/span><\/p>\n
Apple prepares second-generation iPhone Air for spring 2027<\/span> – Bloomberg<\/span><\/p>\n
JPMorgan Chase cuts off Anthropic access for its Hong Kong staff<\/span> – FT<\/span><\/p>\n
Oil falls as International Energy Agency forecasts supply glut next year after U.S.-Iran deal<\/span> – CNBC<\/span><\/p>\n
We Liked Remote Work. Then We Looked at the Data.<\/span> – NYT<\/span><\/p>\n
ONE MORE THING<\/h3>\n
Why Hollywood is full of British people<\/b><\/h2>\n
Have you ever wondered why Tom Cruise\u2019s \u201cMission: Impossible\u201d crew always seems to be gathering in London? Or why the space aliens of the \u201cStar Wars\u201d franchise have British accents? And why is it that the Oscars seem to feature a disproportionate number of Brits, given that most English-language movies are made by American companies?<\/span><\/p>\n
Fortune<\/span><\/i> has the answer. It\u2019s because <\/span>the U.K. government pays for them to be there<\/span>. That\u2019s right. The U.K. has a longstanding policy offering foreign filmmakers a 25.5% refund on their movie-making costs if they film in Britain, use British actors, or otherwise anglicize their films.\u00a0<\/span><\/p>\n
This provides a staggering discount on costs for U.S. studios. Universal Studios spent $658.8 million to create \u201cJurassic World: Dominion,\u201d setting a new record for <\/span>the most expensive movie ever made<\/span>. British taxpayers refunded Universal $127.8 million of that, our analysis shows.\u00a0<\/span><\/p>\n
The macro result is that spending on feature film production in the U.K. rose 31% to a record $3.8 billion last year.<\/span><\/p>\n<\/div>\n
#Full #text #U.S.Iran #peace #deal #allies #appalled #gains #hands #Iran<\/p>\n","protected":false},"excerpt":{"rendered":"
We\u2019ve now got the full text of the \u201cMemorandum of Understanding\u201d that ended the war between the U.S. and Iran. Read the full text here. The BBC has a good… <\/p>\n","protected":false},"author":1,"featured_media":7912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[8576,10133,110,816,2984,1298,6841,445,166,1222,3824,10132,3894],"class_list":["post-7911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-allies","tag-appalled","tag-deal","tag-economics","tag-full","tag-gains","tag-hands","tag-iran","tag-markets","tag-news","tag-peace","tag-text","tag-u-s-iran"],"_links":{"self":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/7911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7911"}],"version-history":[{"count":0,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/7911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/media\/7912"}],"wp:attachment":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- In Europe,<\/b> the Stoxx 600 was down 0.4% in early trading and the U.K.\u2019s FTSE 100 was down 0.91% before lunch.<\/span><\/li>\n
- Iran is banned from obtaining nuclear weapons<\/b> but \u201cwill maintain the current status quo of its nuclear program,\u201d it says.\u00a0<\/span><\/li>\n