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The War Economy: A Billionaire’s Perspective from the FrontlineUkraine is reeling from its heaviest aerial raid in months, with at least 25 people killed in the night sky. In the aftermath, Rinat Akhmetov, the country's wealthiest oligarch and owner of Shakhtar Donetsk, gives a rare interview from a location outside Kyiv. This conversation marks the 90th anniversary of the club and the 30th year of Akhmetov's leadership, offering a unique insight into how the war has reshaped his personal and professional life.From Coal Traders to Champions: The Akhmetov StrategyAkhmetov’s rise from a child in 1970s Donbas to the owner of one of eastern Europe’s most influential football clubs is a story of calculated risk and strategic foresight. His journey began not in football, but in the volatile economy of the 1990s.The Proximity of Danger: Akhmetov was five seconds away from death when his business partner and predecessor, Akhat Bragin, was killed in a stadium explosion in 1995. This tragedy left the club abandoned, with players earning as little as $200 or $300 a month.Industrial Expansion: Leveraging the collapse of the Soviet Union, Akhmetov moved from trading coke and coal to acquiring cheap stakes in metallurgy plants. He revitalized the Yenakiieve plant, where workers previously earned $45 a month, transforming it into a globally competitive enterprise.Breaking the Mold: To break Dynamo Kyiv's dominance, Akhmetov hired foreign managers like Nevio Scala and Mircea Lucescu. He argued that a patriot is someone who works for Ukraine's benefit, regardless of origin, a philosophy that yielded 22 trophies over 12 years.The Financial Toll of Occupation and the Iron and Steelworks of AzovstalThe conflict in Donbas has been devastating for Akhmetov’s industrial empire. Since the occupation began in 2014, his businesses have suffered severe losses. The Azovstal iron and steelworks became a global symbol of Ukraine's resilience during the 2022 siege, though it came at a massive cost to the local economy.Shakhtar was forced to flee their home, losing the Donbas Arena—a stadium that once held 40,000 to 50,000 fans—to the occupying forces. The club's relocation to Lviv and Poland turned them into a powerful ambassador for the Ukrainian state, using the Conference League semi-finals to keep the world's attention on the war.Shakhtar as a Symbol of Ukrainian ResilienceAkhmetov reveals that Shakhtar has always been pro-Ukrainian, evidenced by their 2007 decision to use the Ukrainian spelling of their name over the Russian one. However, the full-scale invasion has crystallized this identity. The club is now viewed globally as a symbol of the fight for independence, sovereignty, and freedom.The Road to Donbas: A Promise Kept and BrokenFor years, Akhmetov maintained a moral imperative: he vowed not to attend another game until Shakhtar returned to their beloved Donbas Arena. This promise was broken last month when he returned for the Conference League quarter-final following the death of his long-time manager, Mircea Lucescu. The spontaneous decision was driven by emotion, as the players' applause during the warm-up moved him to tears. It marks a significant moment in the club's history, signaling a potential return to the region that birthed them, even as the war continues.

The Energy Imbalance Iran is facing more energy constraints as its summer season begins, with the widespread use of air conditioning and other needs during hotter months contributing to an imbalance between supply and consumption. Government's Limited Options For decades, successive Iranian governments have kept utility bills well below supply costs for households and offices through a mix of implicit oil-and-gas subsidies, administered tariffs, state-controlled pricing, and sometimes direct financial support. However, the negative impacts of the war with Israel and the United States on the economy mean the government has fewer tools at its disposal to deal with an energy crisis this summer. Data Analysis Despite having the world's third-largest proven crude oil reserves, Iran will have to import fuel again as demand outpaces refinery output. The administration's attempts to tackle the subsidies burden due to a mounting budget crunch have resulted in only limited increases in petrol through a complex three-tiered pricing system. Most users of Iranian-made vehicles have access to 60 litres (15.85 US gallons) per month of subsidised petrol at 15,000 rials (0.8 cents) and another 100 litres (26.42 gallons) at 1.6 cents. Any use over tier 1 and tier 2 is priced at 50,000 rials (around 1.4 cents) and Iranians are allowed a maximum of 30 litres of fuel per day under any of these prices schemes. Impact Analysis The Iranian government is running similar schemes for natural gas, electricity and urban water, with fears of social unrest making them averse to any sudden price hikes. There appears to be little the government can do to bridge the divide between lower energy production and growing demand for subsidised fuel, illustrated by the perpetual queues at petrol stations since the start of the war. Prediction The situation has worsened during the war, with strikes on Iranian energy facilities seeing Iran's gasoline production capacity drop marginally from 115 million litres (30.37 million gallons) per day to 110 million litres (29.06 million gallons). Meanwhile, consumption has jumped from 10 million litres (2.64 million litres) in 2025 to 140 million litres this year (36.98 million litres). US President Donald Trump's threats of more strikes on power plants have heightened fears of further blackouts and gas shortages this summer, meaning the energy crisis is likely to continue in the coming months.

The Presidential Pitch United States President Donald Trump has sought to reassure farmers hard-hit by tariffs and the economic fallout of the US-Israeli war with Iran during a visit to Wisconsin. Farmers Hit by Tariffs and High Prices The stop in Chippewa Falls on Friday for a farming roundtable comes months before the midterm elections in November. Trump was seeking to bolster support for Republican US Representative Derrick Van Orden, who has been targeted by Democrats hoping to take control of the chamber. Farmers have been particularly hard-hit by Trump's aggressive tariff policies, with many countries limiting imports of US products, notably soybeans, in response. The tariffs have also made importing items needed for daily operations more expensive. Economic Challenges Facing Farmers The administration has sought to offset the fallout with temporary aid packages for farmers. An April survey by the American Farm Bureau Federation found that 70 percent of farmers in the US reported they cannot afford all of their fertiliser needs. The average gas price of $4.04 per gallon of petrol this week was also $1.08 higher than a year ago, according to the American Automobile Association. The Impact on Midterm Elections Democrats are considered favourites to take control of the US House of Representatives, currently controlled by Republicans, in the midterms. Success for Democrats would allow the party to seriously restrict Trump's agenda in the final two years of his term. The Future Outlook Trump assured those gathered that the administration had 'largely finished' the war 'one way or the other'. He vowed fertiliser and gas prices would come 'way down'.

The 1,000th Lap: A Legacy Forged in Monaco As the streets of Monte Carlo echo with the roar of engines, history resonates long and loud for the McLaren team. Contesting their 1,000th Grand Prix in Monaco, the team marks a monumental achievement in motorsport history. Founded by Bruce McLaren in 1963, the outfit has evolved from a fledgling operation into the second-most successful team in F1 history, boasting 203 victories, 13 drivers' titles, and 10 constructors' championships. From a Ford Fairlane to the Podium: The Genesis of a Titan The team's debut in 1966 was not auspicious. McLaren qualified his M2B in 10th but retired after just 10 laps due to an oil leak. However, this early setback did not deter the visionaries behind the brand. The team began with just six people in a small workshop in New Malden, working among bulldozers in a contractor's shed. Founding Team: Bruce McLaren, his wife Patty, Eoin Young, Wally Willmott, Tyler Alexander, and Howden Ganley. Early Logistics: The first car was towed to Monaco behind a Ford Fairlane estate. First Victory: Achieved in 1968 at Spa-Francorchamps. Statistical Dominance: The Numbers Behind the Glory McLaren's journey is defined by consistent excellence and technical innovation. The team sits firmly behind only Ferrari in the all-time standings, a testament to their longevity and competitive edge. Total Grand Prix Appearances: 1,000 Wins: 203 Drivers' Championships: 13 Constructors' Championships: 10 Carved in Bruce’s Image: The Enduring Corporate Culture The team's survival through the tragic death of its founder in 1970 speaks volumes about the culture Bruce McLaren instilled. Described by former mechanic Howden Ganley as the "greatest leader of men," Bruce's vision created a family dynamic that persists today. The team's resilience was tested early, but the "technocratic imperative" to ever onward and upward remained, ensuring the McLaren name remained synonymous with speed and innovation. The Next Chapter: Sustaining the Legacy Beyond the Milestone With recent victories like Lando Norris's win in Miami 2024 signaling a return to the top table, the challenge for McLaren is now maintaining this momentum. As they look toward the future, the 1,000th race in Monaco serves not just as a celebration of the past, but as a launchpad for the next era of Formula 1 dominance.

The Rejection of Zelenskyy's Meeting Proposal Russian President Vladimir Putin has turned down an offer for in-person talks with his Ukrainian counterpart Volodymyr Zelenskyy, saying he sees no point in such a meeting for now. Putin delivered the remarks during Russia's flagship economic forum in St Petersburg on Friday, a day after Zelenskyy shared an open letter appealing for a face-to-face meeting in which the two leaders could hash out an end to the war. Zelenskyy's Response to Putin's Rejection Zelenskyy responded later on Friday, saying Putin's rejection of his proposal showed that the Kremlin had no wish to end the war. “Unfortunately, the Russian side is once again choosing war – everyone hear the response. A weak response,” the Ukrainian president said in his nightly video address. The Stalled Peace Talks Talks to end the war in Ukraine, now in its fifth year, have largely stalled due to Russia's insistence on retaining territory it has seized, which Kyiv has refused to cede. Mediation efforts have taken a further hit as the United States, which has held years of peace talks, shifts its attention toward the war in Iran. Putin's Stance on the War Putin has previously offered for Zelenskyy to come to Moscow for talks, an offer that the Ukrainian leader pointedly rejected. In his remarks on Friday, Putin reiterated his position that the conflict would only stop when Russia's goals are met. “Military actions will end someday, we assume. Without a doubt, they will end once we have achieved the goals we have set for ourselves,” he said.

The Lead In the midst of Gaza's genocide, seven university students have found a way to pursue their education and offer a glimmer of hope to their community. They have opened an ice cream shop, Flora, on the coastal road in Khan Younis, southern Gaza. The Ice Cream Shop's Genesis The students, four studying medicine, two dentistry, and one software engineering, came up with the idea of opening the shop to fund their university courses. With Gaza's higher education system largely nonoperational since the genocide began in October 2023, the students saw this as their only chance to stay enrolled. The Financial Struggle The shop's initial investment was over $25,000, borrowed from family and friends. One student's mother sold a gold bracelet worth $1,000 to contribute to the shop. The team also used materials salvaged from their destroyed homes to construct the shop. The Impact Analysis The ice cream shop, Flora, not only provides a means for the students to fund their education but also offers a sense of normalcy and hope in a region devastated by war. The shop sells products at competitive prices, ranging from $1 to $7, making it accessible to the local community. The Prediction As the students continue to run the shop, they face challenges such as sourcing ingredients and managing debt. However, they remain determined to succeed, seeing their venture as a way to rebuild their lives and their community. The success of Flora could serve as a model for other young entrepreneurs in Gaza, showing that even in the face of adversity, resilience and determination can lead to a brighter future.

The Standstill on the Front Lines Ukraine's ability to impede the flow of Russian supplies and personnel to the front lines has grown in recent days, from the southern regions of Zaporizhia and Kherson to the eastern front, and has forced the Russian army to a standstill, according to battlefield analysis. Ukraine's Deep Strikes Ukraine has continued to strike refineries and munitions factories deep inside Russia, weakening its war effort. On May 30, it destroyed a ballistic missile launcher and two Tupolev-142 long-range strategic bombers at the Taganrog airbase on the Sea of Azov. On Sunday, it hit the Saratov and Rostov oil refineries, followed by the Ilsky refinery, one of Russia's largest, and the Novoshakhtinsky refinery on Tuesday. The Ballistic Missile Threat Russia produces 120 ballistic missiles a month, Zelenskyy told the Ukraine-NATO Council, twice as many as the Patriot interceptors the United States produces. However, Ukraine intercepted 91.7 percent of the drones and 90.6 percent of the cruise missiles, but only 27 percent of the ballistic missiles, according to its Air Force. Zelenskyy's Open Letter Zelenskyy invited Putin to face-to-face talks, saying that Russia's resources are significantly dwindling and that it won't have enough money and political power to continue buying the loyalty of Russians. He also wrote that ballistics is the last Russian argument in the war. Russia's Deteriorating Situation The Institute for the Study of War, a Washington-based think tank, recently assessed that Russia had made a net gain of just 104 square kilometres (40 square miles) this year. In the past week, it said it had used new evidence to reassess those gains at 40.64sq km (15sq miles), including December 2025, judging that many of the areas previously thought to be Russian-controlled were merely infiltrated and contested.

The United States Senate has cleared a $70 billion funding bill for Immigration and Customs Enforcement (ICE) and Customs and Border Patrol (CBP), fulfilling a key request of President Donald Trump and positioning the measure for a House vote.Senate Clears $70 bn ICE Funding Bill via Budget ReconciliationRepublicans, holding a 53‑seat majority, used the budget‑reconciliation process to bypass the 60‑vote filibuster threshold. The maneuver allowed the bill to pass early Friday morning despite intense Democratic opposition and a protracted “vote‑a‑rama” that featured rapid‑fire amendments on unrelated issues.Financial Scale of the New Funding and Prior Allocations$70 bn allocated to ICE and CBP for the remainder of Trump’s term.$170 bn already earmarked for the agencies in a 2025 tax bill.The combined funding exceeds $240 bn, representing a massive fiscal commitment to immigration enforcement.The bill follows a partial funding package that ended a 76‑day Department of Homeland Security shutdown in April.Implications for Immigration Policy and Congressional DynamicsThe approval signals broad Republican support for immigration enforcement, even as internal party tensions persist over other Trump‑related spending requests (e.g., the White House ballroom security and the controversial “anti‑weaponisation” fund). Democrats continue to oppose further ICE funding, citing incidents such as the January killings of two U.S. citizens by ICE and Border Patrol agents in Minneapolis.The move also highlights the strategic use of reconciliation to advance high‑profile spending without bipartisan backing, a tactic that may shape future legislative battles.What Lies Ahead: House Vote and Potential Political FalloutWith a narrow 217‑212 Republican majority in the House, leaders expect the bill to be taken up next week and likely passed. If approved, it will proceed to President Trump’s desk for signature.Potential flashpoints include:Continued Democratic criticism that the funding fuels a “mass deportation drive” increasingly unpopular with voters.Possible leverage by GOP moderates seeking concessions on unrelated priorities, such as infrastructure or fiscal restraint.Should the House stall or amend the bill, the Senate’s reconciliation advantage could be nullified, forcing a renewed showdown.

The Road to the Final Alexander Zverev moved to the verge of a long-awaited first Grand Slam title as the second seed saw off Jakub Mensik in four sets to reach his second French Open final. The German will face either 10th seed Flavio Cobolli or his fellow Italian Matteo Arnaldi on Sunday after securing a 7-5, 6-2, 3-6, 6-3 victory over Mensik on Friday. Zverev's Journey to Success Zverev has endured several near misses at major tournaments, with three previous final defeats, including against Carlos Alcaraz at Roland Garros two years ago. “This is a Grand Slam, it’s best of five, things are going to happen, opponents are going to play better. I managed it,” said Zverev. “I hope to play another great match on Sunday.” The Match Analysis The world number three was playing in his 11th Grand Slam semi-final and his experience showed against Czech youngster Mensik. The 20-year-old, in the last four of a major for the first time, tired as the match went on as his previous exertions in Paris, including two five-set matches, took their toll. The Impact of Experience Zverev has dealt well with the pressure of being the tournament favourite since the early exits of Jannik Sinner and Novak Djokovic, in the second and third rounds respectively. He will face one last test of his mental strength on Court Philippe Chatrier in two days’ time, but should at least be fresh physically after reaching the final having only lost two sets in six matches. The Future Outlook “Pure emptiness, there’s absolutely nothing in my head,” insisted a smiling Zverev in his on-court interview. “We’re athletes, very few of us have anything in our heads. Sometimes it’s easier to be stupid and not to think too much.”