U.S. and Iran sign an initial deal to end the war. The agreement calls for Tehran to dilute its stockpile of highly enriched uranium and would waive sanctions on the country immediately, allowing Iran to sell its oil freely. Iran released a similar version of the accord. The agreement would also open the Strait of Hormuz toll-free for two months and affirm a commitment to Lebanon鈥檚 territorial integrity in the face of Israel鈥檚 invasion against the Hezbollah militant group. Both the U.S. and Iranian presidents have signed the deal. 鈥 The Associated Press
The Group of Seven leaders discussed AI regulation and access. Closing the three-day summit, French host Emmanuel Macron called for democracies to establish a 鈥渢rusted partners鈥 regulatory framework around artificial intelligence. He pressed the United States to allow other nations to have greater access to advanced AI models created by American companies. While leading AI tech titans attended the meeting, President Macron鈥檚 wife, Brigitte, convened a parallel event titled 鈥淧rotecting Children in the Age of Artificial Intelligence鈥 for their spouses. Amazon founder Jeff Bezos, who didn鈥檛 attend the G7 meeting, appeared at the VivaTech conference in Paris where he expressed optimism that AI will create jobs.
U.S. Defense secretary exhorts NATO to push further on defense. In an address at NATO headquarters in Brussels Thursday, Secretary Pete Hegseth called for a 鈥淣ATO 3.0鈥 characterized by a 鈥渞eal, hardline military鈥 that can defend Europe and NATO鈥檚 interests. He said the Pentagon would conduct a six-month review U.S. forces in Europe. He acknowledged some progress toward European nations spending 5% of their budgets on defense but said more must be done. Experts agree that Europe will continue to need certain key U.S. forces for some time, even as many nations significantly ramp up defense spending.
Interest rates will stay put for now, the Federal Reserve announced Wednesday. Nearly half of Fed policymakers said they would support a rate hike later this year to combat stubbornly high and rising inflation. That was an about-face from April, when the central bank signaled a possible rate cut. Stocks fell. Kevin Warsh, chairing his first rate-setting meeting, laid out five task forces to streamline the Fed鈥檚 communications, address its huge balance sheet, review its data sources, look at its productivity and jobs and its inflation frameworks.
The Justice Department announced indictment of left-wing protesters in Minneapolis. On Tuesday, the department released details of an indictment for 15 members of a left-wing group that protested the Trump administration鈥檚 immigration and fraud crackdown in the Twin Cities earlier this year. Allegedly part of a group called Direct Action Minnesota, they were charged with crimes ranging from interstate threats to assault on a federal officer. The Justice Department described the defendants鈥 activities as 鈥渙rganized political violence鈥 that 鈥渨ill not be tolerated.鈥
Tuesday鈥檚 primaries produced mixed results for Trump-backed candidates. Rep. Mike Collins won the Republican runoff in Georgia and Rep. Barry Moore won in Alabama 鈥 both with the president鈥檚 endorsement for the U.S. Senate. In Georgia, voters picked billionaire Rick Jackson to advance in the governor鈥檚 race. Mr. Jackson will face former Atlanta Mayor Keisha Lance Bottoms. Mr. Trump and outgoing Gov. Brian Kemp had both endorsed a different Republican, Lt. Gov. Burt Jones. Earlier this month, the president鈥檚 favored candidate in the Iowa governor鈥檚 race lost that state鈥檚 primary.
鈥 Compiled by Monitor writers around the world