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The UK's New Initiative to Support Families The British government has launched a scheme aimed at helping families reduce the cost of children's meals and summer activities, including visits to theme parks, theatres, and museums. Details of the 'Great British Summer Savings' Scheme From June 25 to September 1, 2026, VAT will be temporarily reduced to help lower the cost of days out and boost customer numbers for struggling businesses. The initiative is intended to ease pressure on household budgets while supporting the leisure and hospitality sectors. Key Benefits of the Scheme Children aged five to 15 will be able to travel free on local bus services throughout August. The reduced VAT rate of 5% will apply to children's menus, family tickets for cinemas, theatres, concerts, shows and exhibitions, as well as admission tickets to attractions including amusement parks, fairs, museums, and zoos. Financial Impact of the Scheme The programme is estimated to cost about 300 million pounds ($403m), the government said. Government's Stance on the Initiative Prime Minister Keir Starmer said, 'When I think about the summer holidays, I think about the Lake District – where I went as a child and later made memories with my own family. I know how precious that time is, yet too many parents feel they have to hold back because the cost of living is still squeezing budgets.' Chancellor Rachel Reeves added, 'I know the cost of living remains the number one concern for many households. Our economic plan is the right one – supporting families and businesses while building a stronger and more secure Britain.' The Future Outlook The announcement comes as families across the UK and much of Europe continue to face rising fuel costs linked to global economic pressures. The scheme aims to provide relief to households during a challenging economic period.

Lead: Injury clouds USMNT defender’s World Cup prospectsCrystal Palace manager Oliver Glasner confirmed that US national team centre‑back Chris Richards has torn two ligaments in his ankle, putting his participation in the 2026 World Cup in doubt.Richards’ ankle injury sidelines him for upcoming fixturesInjury confirmed Thursday, described as “stable but quite swollen”.Will miss Crystal Palace’s match against Arsenal and the Conference League final in Leipzig.Glasner said recovery depends on reducing swelling and medical treatment.Minutes logged and caps underline Richards’ importance2,827 league minutes and 45 starts for Palace this season.13 USMNT caps earned since the start of 2025.Named USMNT Men’s Player of the Year in January.USMNT’s defensive depth tested ahead of the World CupOnly four centre‑backs have logged 500+ minutes under Mauricio Pochettino.Current regulars: Tim Ream, Miles Robinson, Mark McKenzie, with Auston Trusty gaining recent praise.Potential addition Noahkai Banks remains undecided between the US and Germany.What the next weeks could mean for Richards and the US squadSquad to be announced on 26 May; Richards may join camp late due to Palace commitments.USMNT friendlies vs Senegal (31 May) and Germany (6 June) are final tune‑ups.World Cup opener against Paraguay on 12 June in Los Angeles.

The Early Days of Trump's Soccer Career Drive north from New York City and into the Hudson valley. Take Exit 17 and follow Route 7 as it heads south along the river, past the abandoned shipyard and the aptly named Cadet Motel. Hang a left after a few miles, wind up a long driveway and you’ll arrive at New York Military Academy. The Culture of Hazing and Discipline at NYMA The NYMA of the 1960s was entirely unlike the sleepy, near-abandoned campus that exists today, with a well-documented culture of hazing and abuse akin to Full Metal Jacket. Most instructors were hardened veterans, many of whom had served overseas during the second world war. Individual discipline aside, they also pitted students against one another, as Dobias did during twice-weekly “cage matches”, where one student would beat another into submission. Trump's Time on the Soccer Team Trump became part of the Dutchess County Scholastic League, a collection of small schools scattered throughout tiny hamlets in the Hudson Valley and just beyond. Trump joined NYMA’s soccer team after suffering an injury playing gridiron football. A photo of the New York Military Academy soccer team, featuring Donald Trump, has surfaced, providing a glimpse into his early days as a soccer player. The Truth About Trump's Playing Career Yearbooks exist, as do newspapers. Combing through them in search of clues about Trump’s playing career paints an interesting picture of Trump’s brief moment as a soccer player at NYMA, and helps add even more depth to arguably the most polarizing leader in US history. Some accounts describe Trump as an incredible athlete, while others are starkly different. Many describe him as a bully, a character trait that was only hardened amid NYMA’s culture of hazing and rigid discipline. The Legacy of Trump's Soccer Career It’s debatable whether Trump truly cares about the sport itself or simply likes the attention it brings him. But it’s a fact that in 2018, he welcomed international and domestic club teams to the White House and presented the Club World Cup trophy to Chelsea. Cristiano Ronaldo, Wayne Rooney and Lionel Messi have all visited with Trump; the latter was made into wallpaper while Trump went on a rant about the war in Iran. Fifa’s president Gianni Infantino at times seems glued to the US president.

The Diplomatic Implication President Donald Trump has twice suggested, since his summit with China’s President Xi Jinping in Beijing last week, that he may speak with Taiwan’s President William Lai Ching-te. That would mark the first direct contact between leaders of the governments since the US switched diplomatic recognition from Taipei to Beijing in 1979. It remains committed, however, under the 1979 Taiwan Relations Act to supporting the defence of the self-governing democracy. Taiwan's Response In a foreign affairs ministry statement on Wednesday, Taiwan’s President responded to Trump’s comments, saying he would be “happy” to talk to him. Taiwan was committed to maintaining a stable status quo in the Taiwan Strait, he added, but “China is the disruptor of peace and stability”. Beijing regards Taiwan as part of Chinese territory. The Data Analysis The statement comes as the White House considers a $14bn arms deal with Taiwan. China’s foreign ministry responded saying it “firmly opposes official exchanges” between the US and Taiwan, as well as US arms sales to the island. The Impact Analysis Trump’s comments suggest he may be willing to break with decades of diplomatic protocol, which will likely jar with Beijing, say analysts. Based on past events, Beijing will not be happy if Trump does meet with or talk to Taiwan’s president. When the former US House Speaker Nancy Pelosi visited Taiwan in 2022, her two-day visit sparked heightened tensions between the two countries. The Prediction Analysts say that included in its response is an awareness in Beijing that Trump is unreliable and unpredictable. If Trump calls Lai and announces that the US will “continue to support Taiwan and provide a large arms package; all hell will break loose”. However, he said, the very fact that Trump even entertained the idea of speaking with Xi about whether the United States would sell weapons to certain countries was a win for Beijing.

The LeadAnxious Arsenal fans around the world were glued to their screens when Manchester City's draw at Bournemouth crowned the North London club as Premier League champions – but Mikel Arteta, who led Arsenal to their first league title in 22 years, was not watching.The manager had planned to be at Arsenal's training centre in London Colney to watch the game with his players, but could not find the energy to make the trip, and chose to stay at home.The Unconventional Celebration"I went outside to the garden, I started to build some fire. I started to do some barbecue, I didn't watch any of it," Arteta told reporters on Thursday.After finishing second three times in a row, Arteta heard the news of their long-awaited triumph from his eldest son, Gabriel, who plays for Arsenal's Under-18 side."My eldest son opened the garden door, he started to run towards me. He started to cry, gave me a hug and said, we are champions, daddy," Arteta said."Then my other two boys and my wife came over, and it was beautiful, just to see the joy on them as well."Videos shared by Arsenal on social media showed players dancing and chanting at their training centre after their league title was confirmed with a game to spare."It was their moment. And they have to be themselves in that moment. And if I'm there, I think it wasn't going to be the same," Arteta said.Arsenal captain Martin Odegaard called Arteta soon after, asking where the manager was."I said, guys, enjoy for a while and see you in a few hours somewhere in London," Arteta recalled with a smile.The Manager's JourneyIt is Arteta's first league title as manager, and he admitted that he doubted himself during a high-pressure campaign, where they were often a slip-up away from losing their lead in the title race."To play with that on your back constantly is not easy. That has been one of the toughest moments... we showed very important values not only in sport, but in life. Which is perseverance, to be resilient, to be composed in moments when people are doubting," he said."And to be vulnerable. I've asked that question to myself, am I good enough to lead these players to win a major trophy? Until you do it, you cannot validate yourself."The Team's MomentumArteta said the mood in the club had changed after winning the Premier League, buoying the team's confidence ahead of a Champions League final against Paris Saint-Germain on May 30."It changes because the level of emotion you feel, it's something I haven't felt before," he said.The Final ChapterArsenal will conclude their league campaign and lift the trophy at Crystal Palace on Sunday."We will have a window to celebrate and lift the trophy and connect with the people we have constantly around us. Then we have six days to write new history in this football club," Arteta added.

The Record-Breaking Quarter Nvidia has announced record quarterly profit and revenue amid explosive demand for its advanced AI chips. The US tech behemoth said on Wednesday that profit soared to $58.3bn for the February-April period, up 37 percent from the previous quarter and more than 200 percent year-on-year. Revenue jumped to $81.6bn, up 20 percent from the prior quarter and 85 percent compared with the same period in 2025. Nvidia forecast revenue for the current quarter to hit $91bn, more than most analysts' estimates. The AI Chip Surge Nvidia's data-centre business was the main driver of growth, with quarterly revenue surging 92 percent year-on-year to $75.2bn. The Santa Clara, California-based chip giant's hardware unit racked up revenue of $6.4bn, up 29 percent from the previous year. In a sweetener for shareholders, the world's most valuable company said it would buy back an additional $80bn in shares and raise its quarterly cash dividend from $0.01 a share to $0.25 per share. Nvidia CEO Jensen Huang hailed the "extraordinary" results as proof of the growing utility of AI. "Demand has gone parabolic," Huang said in a conference call with investors and analysts. "The reason is simple. Agentic AI has arrived," Huang said, referring to the advent of semi-autonomous AI models. "AI can now do productive and valuable work." Market Expectations vs Reality Despite once again blasting past analysts' expectations, Nvidia's latest results received a muted market response. Shares in Nvidia fell nearly 1.3 percent in after-hours trading, an indication of the sky-high expectations attached to a company whose blistering growth since 2022 has lifted its market capitalisation to more than $5 trillion. "Expectations are very high, and when a company like Nvidia has been doing as well as it has for so long, it takes a lot for people to get excited," Jay Goldberg, a senior analyst for semiconductors and electronics at Seaport Research, told Al Jazeera. "That's just kind of the nature of Wall Street." "All these stocks have run a lot this year, but a lot of it is driven by press releases," Goldberg said, adding that tech firms have yet to demonstrate a "broad-based consumer case" for AI. The AI Valuation Debate Nvidia's spectacular rise and the sky-high valuations of other tech giants, such as Microsoft and Amazon, have stirred discussion about whether AI is overhyped and creating a massive market bubble. William Rhind, the CEO and founder of New York-based investment firm GraniteShares, said the muted reaction showed that expectations had "caught up to fundamentals." "Nvidia is no longer beating a high bar – it is the bar," Rhind told Al Jazeera. Rhind said the bullish case for Nvidia nonetheless remains strong, pointing to the dividend hike and share buyback scheme as signs of a company with "more cash than it can possibly redeploy into the business". "When the marginal use of capital starts shifting toward buybacks and dividends, you're watching a hypergrowth story begin to mature in real time," he said. "That's not bearish – it's a different kind of bullish." Future Outlook John Belton, a portfolio manager at Gabelli Funds, said Nvidia's latest results should not "dramatically shift the story one way or another". "Overall, another solid earnings," Belton told Al Jazeera, saying the results mirrored the "strong numbers" of previous quarters "albeit without any new earth-shattering developments." As Nvidia continues to dominate the AI chip market, the company faces the challenge of maintaining its extraordinary growth trajectory while navigating increasing scrutiny about whether current valuations reflect sustainable business fundamentals or speculative enthusiasm.

The Comeback of Manuel Neuer Bayern Munich's Manuel Neuer has come out of international retirement to compete in next month's World Cup after being named as the starting goalkeeper in Germany coach Julian Nagelsmann's squad for the tournament. Nagelsmann's Decision Nagelsmann made the decision after having long labelled Hoffenheim's Oliver Baumann as his first-choice keeper. "Yes, I plan with that [with Neuer as number one]," Nagelsmann told a press conference. "The main task was to nominate the best three keepers. So we decided that these three are part of that." Neuer's Career Revival The 40-year-old Neuer, who last competed for Germany at Euro 2024 before his international retirement, is now set to play in his fifth successive World Cup, joining an elite group of football players with five or more tournaments. Neuer, a 2014 World Cup winner, enjoyed a solid season with champions Bayern, who could win the domestic double with victory over VfB Stuttgart in the German Cup final on Saturday. Germany's World Cup Squad There were few other major surprises in Nagelsmann's 26-man squad for the tournament starting next month. But the coach also called up Bayern's teenage player Lennart Karl, who enjoyed a meteoric rise this season, as well as Nadiem Amiri and Leroy Sane, who both had outside chances of earning a spot. Germany's World Cup Goals Germany, who face Curacao, Ecuador and Ivory Coast in Group E at the World Cup, have set their sights on a fifth title after shock first-round exits in the past two editions in 2018 and 2022. "The statement stands," Nagelsmann said. "We want to become world champions. Every player who is nominated needs to show it now every day." Full Germany Squad Goalkeepers: Manuel Neuer, Oliver Baumann, Alexander Nubel Defenders: Nico Schlotterbeck, David Raum, Nathaniel Brown, Jonathan Tah, Waldemar Anton, Pascal Gross, Joshua Kimmich, Felix Nmecha, Malick Thiaw, Aleksandar Pavlovic, Antonio Rudiger, Angelo Stiller Midfielders/Forwards: Leon Goretzka, Maximilian Beier, Jamal Musiala, Nadiem Amiri, Jamie Leweling, Kai Havertz, Lennart Karl, Florian Wirtz, Deniz Undav, Nick Woltemade, Leroy Sane

The LeadEleven weeks after the start of the Iran war, the Strait of Hormuz has remained closed to naval traffic, bleeding the global economy far beyond the Gulf. Iran's Islamic Revolutionary Guard Corps (IRGC) maintains an iron grip over this narrow, strategic waterway, while a corresponding United States naval blockade on Iranian ports has failed to reopen it.Before the war began, between 120 and 140 ships travelled through the strait each day, about half of them oil tankers carrying some 20 million barrels of oil between them. Now, only a few vessels whose owners have negotiated with the IRGC are permitted to pass.The Strategic Control of HormuzOn Wednesday, Iran said it coordinated the transit of 26 vessels through the Strait of Hormuz in 24 hours, two days after announcing the formation of the Persian Gulf Strait Authority (PGSA), a new body to provide "real-time updates" on operations in the strait.Since the announcement of a temporary ceasefire between the US and Iran in April, Iran has been working on formalising a mechanism to charge a transit fee from ships crossing the critical chokepoint, through which 20 percent of the world's oil and liquefied natural gas (LNG) are shipped during peacetime.Tehran has reportedly already charged fees as high as $2m per ship for transit since the war started. Even though countries opposing Tehran say this is illegal, it may still be less expensive than the overall cost of the closure of the strait each day.The Economic Cost of BlockadeNearly one-fifth of global oil and LNG exports were shipped by Gulf producers through the Strait of Hormuz before the US and Israel bombed Iran on February 28, triggering the Iranian closure of the waterway. The strait is the only waterway linking Gulf producers to the open ocean – there is no other route through which they can ship exports.About 20.3 million barrels per day of oil passed through the Strait of Hormuz in peacetime – nearly 27 percent of global maritime oil trade. The lion's share of that crude went to Asian markets.Global LNG trade has been similarly hard hit. On the day before the war broke out, Brent crude – the global benchmark for oil prices – closed at $72.48 per barrel. After Iran closed the waterway on March 4 and began attacks on vessels attempting to sail through, traffic came to a standstill, stranding about 2,000 ships on either side of the strait.In terms of lost oil revenues, this amounts to $114.8bn of losses per day. About 10 billion cubic feet of LNG per day also used to pass through the strait, worth a further $7.8bn.The Cost-Benefit Analysis of Transit FeesFor hundreds of ships stranded in the Gulf with thousands of sailors on board, the cost of remaining anchored is steep, including crew wages, loan repayments, repair and management, coupled with inflated war risk premiums.In turn, Iran has reportedly been charging up to $2m for authorisation to pass. Experts say many will see this as worthwhile purely in terms of monetary cost."There is no doubt that paying Iran is cheaper than a continuous blockade because a sitting tanker bleeds money," said Nader Habibi, an Iranian American economist."It makes sense from an economic point of view, but it is not politically feasible," he added. "The companies are under pressure from the US sanctions and not to make arrangements with Iran. This is not just a purely economic cost-benefit analysis, but long-term considerations that are taken into account."International Legal PerspectivesInternational law protects free transit through strategic waters such as natural straits like Hormuz, barring countries from imposing passage tolls even where the waterways fall entirely into territorial waters, like in the case of Hormuz.However, services such as security controls, inspections and insurance regimes can be charged for. Chargeable fees also partly depend on whether a waterway is a man-made passageway or a natural one.These are three different precedents in maritime traffic flow:Panama Canal: An artificial waterway connecting the Atlantic and Pacific oceans. Vessels pass through a unique system of locks that raise and lower vessels across elevated terrain. Since Panama built, maintains and operates the canal, it can charge transit fees based on vessel size, cargo capacity and booking priority. These range from several hundred thousand dollars per transit to some slots sold for millions of dollars.Suez Canal: Another artificial canal, linking the Mediterranean and Red seas. Egypt charges transit fees for the use of canal infrastructure, maintenance and traffic management services through the narrow waterway. Container ships and oil tankers pay from several hundred thousand dollars to more than one million dollars per voyage.Turkiye's Bosporus Strait and Dardanelles: These are different because they are natural straits, rather than man-made canals. Turkiye charges for navigation-related services such as lighthouse operations, rescue readiness, medical support and traffic management – and tightly controls ship scheduling and navigation.Regional Cooperation PossibilitiesIran's newly-formed PGSA published a new map of Hormuz, stretching from Kuh-e Mubarak in Iran to south of Fujairah, in the UAE, at the eastern entrance of the strait, and from the tip of Qeshm Island to Umm al-Quwain at the western entrance.Given how the Iran war has spilled over into the Gulf region – with the UAE taking the brunt of Iranian strikes – economist Mohammad Reza Farzanegan said "regional cooperation with Iran is the most realistic path to stable transit through the Strait of Hormuz."The UAE, Oman, Qatar and Iran will have to work together because their economies require it, he argued. A workable arrangement could include a joint maritime authority, shared monitoring, emergency coordination, environmental protection and service-based contributions for maintaining safe passage."This would give Iran a recognised role in the security of the waterway while giving Persian Gulf economies more predictability," Farzanegan added. "Such a framework is also more realistic than relying on external military enforcement, which has been more a source of trouble for these states."The Future OutlookWhile it may seem that the economics of the closure of the strait are currently skewed towards Iran, Aniseh Tabrizi, an associate fellow on the Middle East and North Africa Programme at think tank Chatham House, noted that "the economics by itself is not going to be the driver to change calculation or move from the current standpoint."She emphasized that Iran and the US need to reach a "diplomatic compromise, with other calculations linked in to the economic factor", before there can be an end to the energy supply crisis.Farzanegan added that if the world expects stable access to the Strait of Hormuz, then paying Iran could well be accepted as the price of keeping the vital waterway predictable. "From an economic perspective, a negotiated transit arrangement [with Iran] now makes more sense than continued closure," he concluded.

Lead: A $700 Million Bet on the First Must‑Have AI Consumer Product Hark announced a $700 million Series A financing that pushes its post‑money valuation to $6 billion. The round, led by Parkway Venture Capital and populated by a roster of industry‑heavy investors, is earmarked for building a universal AI interface that could redefine how everyday users interact with digital services. Hark Secures Massive Funding to Build a Universal AI Interface The AI lab, founded in late 2025 by Brett Adcock—the entrepreneur behind Figure.AI and Archer—has kept details of its product under wraps. According to the announcement, Hark plans to release its first multimodal models this summer, which will power a personal AI platform capable of integrating with existing products and services. Subsequent hardware devices will be engineered specifically for these models. Lead investor: Parkway Venture Capital Participating investors: Align Ventures, AMD Ventures, ARK Invest, Brookfield, Greycroft, Intel Capital, Prime Movers Lab, Qualcomm Ventures, Salesforce Ventures, Tamarack Global Valuation and Investor Landscape Signal Massive Confidence The $700 million raise places Hark at a $6 billion valuation, a striking figure for a company that currently employs about 70 people and runs a data center equipped with Nvidia B200 GPUs. The investor mix—spanning venture capital, semiconductor giants, and corporate venture arms—underscores a broad belief that a dedicated AI interface, paired with custom hardware, could capture a sizable consumer market that current players have yet to dominate. Potential Shift in Consumer AI Assistants and Hardware Integration Industry observers note that while firms like Anthropic and OpenAI focus on coding tools and broader AI services, Hark’s singular emphasis on an “agentic” AI system and native hardware could create a new product category. Former Apple executive Abidur Chowdhury, now Hark’s director of design, highlighted the lack of consumer‑centric AI experiences that truly simplify daily life. If Hark succeeds, it may pressure incumbents to accelerate hardware‑first strategies and prioritize privacy‑preserving contextual awareness. What Hark’s Funding Could Mean for the Next Generation of AI Products With the fresh capital, Hark will invest heavily in talent acquisition for hardware engineering, product design, and AI research, as well as secure compute resources and component supply chains. The company’s roadmap suggests a rapid rollout: multimodal models this summer followed by dedicated AI devices later in the year. Should the demos that impressed investors translate into market‑ready products, Hark could set a benchmark for “universal” AI assistants, prompting a wave of competition focused on seamless integration rather than isolated functionalities.