Nuclear deal between US and Iran now uncertain after Israel attack
Nuclear deal between US and Iran now uncertain after Israel attack
The nuclear deal between the US and Iran could be in jeopardy following Israel's attack on Iran. CNN's Kaitlan Collins has the details.
00:41 - Source: CNN
Kanye West makes brief appearance at Diddy trial courthouse
Kanye West, who goes by Ye, was briefly at the courthouse where Sean "Diddy" Combs is on trial. A source close to West previously told CNN's Elizabeth Wagmeister that he would like to attend the trial to show support for Combs.
00:27 - Source: CNN
'We will kill you': Florida sheriff issues stern warning to protesters
As protests over the Trump administration's immigration raids continue in Los Angeles and other cities, Florida Attorney General James Uthmeier and law enforcement officials warned that demonstrators could face a forceful response in the state, CNN affiliate WESH reports.
00:33 - Source: CNN
Analysis: Why Israel attacked Iran now
CNN's Oren Liebermann explains the reasons why Israel decided to attack Iran in unprecedented strikes targeting its nuclear program and senior military leaders.
01:49 - Source: CNN
Israel launches 'preemptive strike' on Iran
Israel launched strikes against Iran, targeting its nuclear program and long-range missile capabilities, an Israeli military official said. CNN's Kaitlan Collins reports.
01:38 - Source: CNN
Survivor of India plane crash appears to walk away from site in video
Video appears to show the sole survivor of a 242 passenger plane crash walking away from the rubble.
00:27 - Source: CNN
Video shows Sen. Padilla handcuffed on the ground at DHS event
Sen. Alex Padilla (D-CA) and Department of Homeland Security Secretary Kristi Noem separately spoke to the press after Padilla was forcibly removed and placed in handcuffs at Noem's press conference in Los Angeles, California.
01:19 - Source: CNN
Sen. Padilla forcibly removed from Noem's press conference
Democratic Senator Alex Padilla of California was confronted by security and forcibly removed from a news conference being held by Homeland Security Secretary Kristi Noem in Los Angeles.
00:14 - Source: CNN
Expert examines CCTV footage to see what happened to Air India flight before crash
Newly released CCTV footage shows Air India Flight 171 take off before crashing moments later. CNN aviation analyst Miles O'Brien offers his analysis.
00:56 - Source: CNN
Passenger survives Air India plane crash
At least one passenger on board Air India Flight 171 to London Gatwick survived, local police said. According to Reuters, senior police officer Vidhi Chaudhary said the man had been in seat 11A and added that there may be a few more survivors in the hospital.
00:19 - Source: CNN
Video shows moment plane crashes in India
Social media video shows flames and thick smoke billowing into the air, as an Air India passenger plane, carrying 242 people, crashed shortly after takeoff. The plane had departed an airport in Ahmedabad, India and was bound for London's Gatwick Airport.
00:20 - Source: CNN
Trump draws boos and cheers at Kennedy Center
President Donald Trump drew charged reactions of both admiration and ire at the Kennedy Center's opening night of "Les Misérables."
00:29 - Source: CNN
LAPD chief pushes back on Trump
CNN's Kaitlan Collins talks with LAPD Chief Jim McDonnell who says he did not support President Trump's decision to deploy the National Guard to Los Angeles, despite statements Trump made earlier.
01:33 - Source: CNN
Meatpacking employees block ICE cars with their bodies following raid
Workers at a meatpacking plant in Omaha Nebraska tried to block ICE agents by throwing themselves on top of the cars to block their path following a raid on the business. More than 70 undocumented people were detained, the largest to take place in Nebraska since the start of the Trump's second term.
01:10 - Source: CNN
Elon Musk called President Trump on Monday night expressing regret
CNN's Kaitlan Collins reports the latest details on Elon Musk's Monday call with President Donald Trump and what it means for their relationship.
00:57 - Source: CNN
Violence enters third day in Northern Ireland
Unrest has spread to more towns in Northern Ireland after violence initially started in Ballymena. The third night of disturbances saw a leisure center, that had been recently used to shelter immigrants, set ablaze by masked youths.
00:45 - Source: CNN
"Jane' testifies for fifth day in Combs trial
'Jane" continued cross-examination in the Sean "Diddy" Combs trial for her fifth day. Prosecutors expect to rest their case at some point next week. CNN's Elizabeth Wagmeister reports.
02:18 - Source: CNN
Trump says why his second term is different from the first
In an interview with The New York Post's Pod Force One, President Trump explained why he "can be stronger on an attack on Los Angeles" in his second term compared to his first. Trump also said he told Governor of California, Gavin Newsom, he planned to deploy National Guard troops before doing so.
01:09 - Source: CNN
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CNN
28 minutes ago
- CNN
Live updates: Trump military parade, ‘No Kings' protests
Update: Date: 4 min ago Title: National Guard "twiddling their thumbs in LA" instead of stopping fentanyl trafficking, Gov. Newsom says Content: Members of the California National Guard federalized by President Donald Trump have been pulled away from efforts to stop the flow of fentanyl at the US-Mexico border, Gov. Gavin Newson claimed in a social media post yesterday. Newsom's comments on X were in response to a post by White House adviser Stephen Miller regarding the administration's border security priorities. 'You just pulled National Guard I placed at the border who were stopping fentanyl smuggling,' Newsom wrote. 'Now they're twiddling their thumbs in LA.' Remember: Trump federalized 4,000 members of the California National Guard against Newsom's will, with orders to protect federal buildings and personnel amid immigration protests in Los Angeles. On Wednesday, Newsom said Trump's deployment of guard troops to LA also threatened the state's ability to respond to wildfires. Update: Date: 8 min ago Title: About 60 veterans and military families arrested last night at US Capitol protest after crossing police line Content: A group of roughly 60 individuals were arrested outside the US Capitol yesterday evening after breaching a police line of bike racks and moving toward steps leading to the Capitol Rotunda, according to the Capitol Police. The group, made up of veterans and military family members, planned a sit-in on the Capitol steps to protest President Donald Trump deploying the National Guard and active-duty Marines in Los Angeles, as well as a military parade today, according to a news release from organizers. A group of approximately 75 protesters were demonstrating peacefully at the Supreme Court, just across the street from the US Capitol, according to a statement from the Capitol Police. As the group was leaving the area, officers began establishing a perimeter of bike racks to keep the protesters away from the Capitol. 'A few people pushed the bike rack down and illegally crossed the police line while running towards the Rotunda Steps,' the Capitol Police said. 'Our officers immediately blocked the group and began making arrests.' Police said: 'All will be charged with unlawful demonstration and crossing a police line. Additional charges for some will include assault on a police officer and resisting arrest.' The protest was organized by two advocacy groups — About Face: Veterans Against the War and Veterans for Peace. The brief sit-in followed a rally and press conference, according to the organizers' news release. 'We want a future where we invest in care for veterans, in health care, and in education, not where we spend $50 million on a parade,' said Brittany Ramos DeBarros, an Army combat veteran and organizing director of About Face: Veterans Against the War, in a statement. Update: Date: 44 min ago Title: Here's where "No Kings" protests are expected to take place across the country today Content: Millions of Americans are expected to attend protests today in what organizers predict will be the strongest display of opposition to President Donald Trump's administration since he took office in January. More than 2,000 demonstrations across all 50 states have been planned through the 'No Kings' movement, which organizers say seeks to reject 'authoritarianism, billionaire-first politics, and the militarization of our democracy.' The mobilization is a direct response to Trump's military parade tonight celebrating the 250th anniversary of the US Army — which coincides with his 79th birthday. Update: Date: 2 min ago Title: Many GOP senators aren't attending Trump's military parade and one says he would've "recommended against" it Content: The Senate Armed Services Committee chairman said he would've advised against hosting a big military parade in Washington, DC — an unease with the event reflected by some of his fellow Senate Republicans. 'I would have recommended against the parade,' Sen. Roger Wicker of Mississippi told CNN when asked for his views on the event. Wicker, the chamber's top Republican with oversight of the military, said he would be out of town attending the Paris Air Show during the parade, which coincides with President Donald Trump's birthday. Most of the GOP senators surveyed by CNN this week said they did not plan to attend: • Senate Majority Leader John Thune won't be in DC for the parade. Asked about spending some $45 million on it at a time when many Republicans are demanding government austerity, he said: 'There are a lot of people who believe that's a cause worth celebrating.' • An aide to Senate Majority Whip John Barrasso said that after being at the White House twice this week, the senator would be back in Wyoming celebrating the Army's 250th birthday and Flag Day with his constituents. • Sen. Jim Risch of Idaho, Senate Foreign Relations chairman, said he would miss the parade. 'Come on guys, we have lot of stuff to do. We have lots of parades in Washington,' he said. • Sen. Jerry Moran of Kansas will also be at the air show in Paris, and Sen. Markwayne Mullin of Oklahoma will be home celebrating his wedding anniversary, though he said he 'would love to see it.' • Sens. Kevin Cramer of North Dakota, James Lankford of Oklahoma, Josh Hawley of Missouri, John Curtis of Utah, John Kennedy of Louisianna and Chuck Grassley all won't be there. One Republican with whom CNN spoke — Kansas Sen. Roger Marshall — told reporters Thursday he plans to attend the parade.
Bloomberg
29 minutes ago
- Bloomberg
Iran's Araghchi Says US Talks ‘Unjustified' After Israeli Attack
Iranian foreign minister and lead negotiator, Abbas Araghchi, said continuing nuclear talks with the US would be 'unjustifiable' in light of Israel's ongoing military assault on the Islamic Republic, according to a government statement. Araghchi's comments are the strongest sign yet that Iran is likely to withdraw from its negotiations with the Trump administration, which were scheduled for a sixth round on Sunday.
Forbes
30 minutes ago
- Forbes
Higher Oil Prices Mean Less GDP
Iran's supreme leader Ayatollah Ali Khamenei speaks after casting his ballot during the runoff ... More presidential election in Tehran on July 5, 2024. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images) The shale revolution has been a huge boon for America, producing an enormous amount of income, tax revenue and employment as well as reducing CO2 emissions. At the same time, by reducing our net oil imports, they have substantially improved our energy security. But the simple metric of net imports understates the complexity of energy security. Energy vulnerability is often treated as nothing more than reliance on imports from foreign countries, and that is certainly a crucial element but hardly the only one. Conversely, the fact that the U.S. still imports as much as eight million barrels a day of oil overstates our vulnerability: lost imports would not mean a shortage for domestic consumers, as that oil is swapped out for domestic supplies for the sake of economic efficiency, and producers can simply retain crude that is currently exported. The Figure below breaks down the source of gross imports; the decline in oil from OPEC is pronounced, while the rise of Canadian oil imports, due to higher oil sands production, exaggerates the security of our supply, albeit only slightly. U.S. Oil Imports (thousand barrels per day) On the one hand, despite ongoing tension with Canada, they are unlikely to cut off sales to the U.S. for political reasons. Nevertheless, there is no guarantee that in a new disruption of global oil supply, such as from unrest in Russia or war in the Middle East, Canadian oil would continue to be delivered to American refiners. In theory, Canada could use the U.S. for the transshipment of oil to better paying overseas customers, although given the globalized nature of the oil market, prices should not be significantly different elsewhere. Of course, should American politicians (foolishly) respond to a global oil crisis by restricting exports of domestic crude, U.S. oil prices would presumably drop below global prices, encouraging Canadian companies to export their oil elsewhere. Such a populist move by the U.S. would be detrimental and the impact multiplied if politicians tried to prevent Canadian companies from selling their oil onwards, mostly through the Gulf Coast ports. Should, say, a country like China offer attractive deals to Canadian companies for additional supply (similar to what happened in 1979), the political calculus becomes more complex. But this highlights another way the globalized oil market affects energy security: even if the U.S. is well-supplied with oil, a global oil crisis will translate into higher domestic oil prices. Absent political intervention, U.S. prices would rise to match global oil prices, meaning even with our current energy independence, a new oil crisis would inflict economic damage. Certainly, now that the U.S. is a net exporter of oil, higher oil prices would improve not worsen the trade balance. Still, sending the money from East Coast consumers to Southwest producers will have a deflationary impact on the economy because higher oil prices have an effect similar to a tax hike. Consumers would spend more for gasoline and reduce other spending accordingly. It is generally thought that a tax hike lowers GDP by 2-3 times the increased taxes, so that an increase in taxes equal to 1% of GDP yields a 2-3% reduction in GDP. Tax Increases Reduce GDP | NBER An oil price increase does not have precisely the same effect, because the money goes not from the private sector to the government but from one part of the private sector (consumers) to another (oil producers). Still, a $10/barrel increase in oil prices equates to roughly $35 billion in higher household expenditures, or about 0.1% of GDP. So, back of the envelope calculation suggests that GDP would drop somewhere on the order of 0.2% for every $10/barrel increase in oil prices. This effect is clearly seen in historical GDP data, as the figure below shows, although there are obviously many confounding factors. In all likelihood, the impact now would be less than in the past because our oil trade balance is positive; net exports, at 2 million barrels per day, will translate into modest but significant economic benefits. Still, in the case of a prolonged period of $100 per barrel oil, which many think could be achieved if the Middle East situation worsens significantly, a GDP loss of 0.5% is quite likely. Change in Real GDP (percent) At present, it appears unlikely that Middle Eastern oil supply will be affected by the ongoing conflict between Iran and Israel. Attacks on shipping or the Straits of Hormuz would boost prices but are unlikely to persist beyond a few weeks. More worrisome would be an Israeli attack on Iranian oil facilities, although at present, such is not expected. So, $100 oil for several months would not automatically translate into a recession, but would have a notable impact on GDP growth, especially if the Fed raises interest rates as higher oil prices increase inflation. But an oil price spike will definitely worsen consumer and business confidence. As much as it would be nice for cash-rich Southwesterners to spend their increased income on Maine lobster and New England clam chowder, a prolonger period of higher oil prices--$100 or more—will be disruptive enough to threaten at least significant economic slowing and potentially tip us into a recession.
