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Trump says Iran will ‘pay the price’ and claims they have ‘taken too long’ to agree to a deal

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  U.S. President Donald Trump said Wednesday that Iran has taken too long to negotiate a peace deal and will now have to “pay the price.” “Iran’s Military is a complete and total mess,” the president said in a post on Truth Social. “Much of it, like their Navy and Air Force, doesn’t even exist anymore - They have been completely defeated. Iran is all talk and no action.” Oil prices react Oil prices ticked higher and U.S. stock futures fell after Trump’s comments. U.S. crude oil futures for July delivery jumped nearly 2% to $89.72 per barrel and Brent futures, the international benchmark, for August delivery, rose 1.3% to $92.74 per barrel. CNBC has reached out to the Iranian Foreign Ministry for comment. In a subsequent post on Truth Social, Trump denounced “The Fake News Media” for refusing to report how “EFFECTIVE the U.S. Naval BLOCKADE is, the most successful Blockade in the history of Naval Warfare.” He added: “NOTHING GETS THROUGH unless we want it to. IT IS A STEEL WA...
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Bitcoin drops below $67,000 as sell-off intensifies and pessimism grows about the crypto’s function

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  Cheng Xin | Getty Images Bitcoin  sank below $67,000 on Thursday as investor confidence continued to falter in the asset once hailed as “digital gold” and a unique store of value. Digital assets, including bitcoin, have fallen deeper into the red as investors re-assess the practical utility of a token that has been championed not only as a hedge against inflation and macroeconomic uncertainties but also as an alternative to fiat currencies and traditional safe-havens such as gold. That hasn’t panned out lately, since bitcoin peaked just north of $126,000 in early October. On Thursday, bitcoin was last down to $67,675, its lowest since since November 2024. The cryptocurrency broke below $70,000 earlier in the session Thursday and then the selling increased. The cryptocurrency is down 20% this week alone and off 47% from its record last October. Bitcoin/USD Coin Metrics RT Quote  | USD 67,708.65 -5,729.94  (-7.80%) Last | 10:56 AM EST WATCHLIST + Quote Details B...
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German inflation unexpectedly falls to 2% in June, hitting ECB’s target

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  Janine Kraft, store manager of the Tante Enso store in Wörlitz, Germany, sorts goods onto the shelves. Picture Alliance | Picture Alliance | Getty Images Germany’s annual inflation rate unexpectedly eased to 2% in June, bringing Europe’s largest economy in line with the European Central Bank’s target,  preliminary data from statistics office Destatis  showed Monday. Analysts polled by Reuters had expected a reading of 2.2% in the twelve months to June. The German print is harmonized across the euro zone, allowing for a direct comparison with other single currency states. The consumer price index  had eased to 2.1% in the year to May . Elsewhere in Europe, June inflation readings showed a small rise in the harmonized rate of France and Spain, but no change in Italy. Franziska Palmas, senior Europe economist at Capital Economics, said the latest inflation data would please the ECB, which is expected to cut rates one more time in this cycle. “Overall, the figures add ...
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Airbus orders dominate Paris Air Show as Boeing takes backseat — again

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  oints At Europe’s biggest air show, Airbus has announced a slew of orders while Boeing has scaled back its presence as it focuses on the investigation into the Air India crash. Demand for new planes from both manufacturers remains high despite years of controversy at Boeing, with supply delays leaving airlines hungry for aircraft. Defense has been a key theme of the event as suppliers gear up for more government demand. An Airbus A350-1000 passenger aircraft performs during the 55th edition of the International Paris Air Show (Salon international de l’aeronautique et de l’espace - SIAE) at the ParisLe Bourget Airport, in Le Bourget, north of Paris, France on June 18, 2025. Anadolu | Anadolu | Getty Images Airbus  orders and new models have taken center-stage at this year’s Paris Air Show, as its U.S. rival  Boeing  spends yet another major industry event keeping a low profile due to turmoil at the business. Airlines and manufacturers use air shows as an opportunity...
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Honda Motor reports 76% plunge in operating profit in huge earnings miss

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  Honda is seen at the New York International Auto Show on April 16, 2025. Danielle DeVries | CNBC Japanese auto giant  Honda  missed fourth-quarter earnings estimates as operating profit plunged 76%, with the company bracing for the full impact of U.S. tariffs. Here are Honda’s results compared with mean estimates from LSEG: Revenue: 5.36 trillion yen ($47.26 billion) vs. 5.36 trillion yen Operating profit: 73.5 billion yen vs. 275.52 billion yen Honda’s fourth quarter ends March 31. Honda Motor Co Ltd *Data is delayed  | Exchange  | JPY 1,503.50 +15.00  (+1.01%) Last | 3:30 PM JST WATCHLIST + Quote Details For its financial year ended March, revenue came in at 21.69 trillion yen, compared to the average estimate of 21.63 trillion yen from LSEG and marking a 6.2% rise year on year. Operating profit fell 12.2% to 1.21 trillion yen, against the average LSEG estimate of 1.41 trillion yen. Net profit for its full year fell 24.5% to 835.84 billion. Wh...
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Berkshire meeting updates: Buffett proposes Abel become CEO, talks trade policy, market volatility

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  To watch the meeting in the Mandarin translation,  click here . Berkshire Hathaway ’s annual meeting ended Saturday with big news:  Warren Buffett  said he planned to ask the board to make Greg Abel the company’s CEO by year-end. Abel, Berkshire’s vice chairman of non-insurance operations, was at Buffett’s side on stage when Buffett broke the news, and didn’t know these remarks were coming, according to “The Oracle of Omaha.” The 94-year-old has had a six-decade run at the company, and its annual meetings draw thousands of shareholders from around the world to Omaha each year. The gathering, known as “Woodstock for Capitalists,” is a chance for Buffett to share his views on the markets, investing and life, in general. This year, Buffett was asked about global trade policy and the tariffs that President Donald Trump has proposed as well as the market’s recent volatility. “Trade should not be a weapon,” Buffett said. Read a full account of the day’s events below. Her...
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