Mayor Zohran Mamdani, a democratic socialist, is pushing a second-home levy to tax the rich, while also building a working relationship with Donald Trump despite past criticism of his tax policies. Mamdani recently met with Barack Obama and faced public backlash, including Mets fans blaming him for a 10-game losing streak.
Energy Secretary Chris Wright stated that US gas prices, currently averaging $4.04 per gallon, may not drop below $3 until 2027, contradicting earlier predictions of summer relief. He acknowledged that Iran War price hikes have peaked, but long-term relief remains uncertain.
Tehran's state media reported no plans to participate in new US talks, despite President Trump dispatching envoys like Steve Witkoff to Pakistan for negotiations. Iran maintains control over the Strait of Hormuz, accusing the US of ceasefire breaches and creating diplomatic chaos.
A doom-laden report predicts Britain will "flirt with recession" this summer, with inflation potentially hitting 4% and unemployment 5.8% by mid-2027 due to the Iran conflict. Chancellor Rachel Reeves summoned major bank bosses to discuss limiting the economic impact, while Germany's Chancellor Merz also called crisis talks.
UK Prime Minister Keir Starmer is set to address MPs regarding the Peter Mandelson vetting scandal, facing accusations of breaking the Ministerial Code by delaying the revelation of vetting failures. The controversy, which includes Mandelson's alleged ties to Epstein and hostile foreign states, has put Starmer's leadership in peril.
The US Navy intercepted and seized the Iranian-flagged cargo ship Touska in the Gulf of Oman, with President Trump stating it ignored warnings and had a hole blown in its engine room. Trump also threatened to bomb Iran's infrastructure if a peace deal is not accepted, accusing Iran of a serious ceasefire violation.
Former Army National Guardsman Shamar Elkins, 31, fatally shot eight children, including seven of his own, and injured their mother and a teenager in Shreveport. Police described the incident as domestic violence, occurring across three separate locations.
Amid Iran's closure of the Strait of Hormuz, US Ambassador Mike Waltz declared Iran's ownership claim a violation of international law, while Senator Tim Kaine insisted the waterway must be open to all. The chaotic weekend saw gunfire and U-turns, with experts noting Iran's constitution calls for global jihad.
Crude oil and natural gas prices climbed sharply following US attacks on Iranian ships and Iran's closure of the Strait of Hormuz, with European gas futures soaring. This surge occurred despite Vitol Group reporting a $2 billion profit in Q1, partly due to war losses.