US, Iran agree ceasefire deal as Trump heads to G7 summit
6/15/202611 min
The leaders of the US and Iran will sign an agreement on Friday to reopen the Strait of Hormuz, and the annual G7 summit kicks off today. SpaceX’s blockbuster IPO tells us a lot about Wall Street’s appetite for tech listings, and the New York Knicks won the NBA championship for the first time since 1973.
Mentioned in this podcast:
Trump says Iran and US agree deal to open Strait of Hormuz and extend ceasefire
Emmanuel Macron and Donald Trump test their bruised bromance at G7 summit
Wall Street digests record fundraising haul as AI race intensifies
SpaceX’s surge on debut makes Elon Musk world’s first trillionaire
New York Knicks’ winning streak should rub off on its owner too
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The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show was mixed by Alex Higgins and Kelly Garry. Additional help from Peter Barber, Gavin Kallmann, Michael Lello and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript preview
First 90 secondsVictoria Craig· Host0:00
[on-hold music] Good morning from the Financial Times. Today is Monday, June 15th, and this is your FT News Briefing. The US and Iran say they've reached a deal to reopen the Strait of Hormuz and extend a ceasefire just as President Trump heads to France for the annual G7 Summit. Plus, what does SpaceX's blockbuster stock market debut tell us about an imminent wave of tech IPOs?
Eric Platt· Guest0:29
So it is a great barometer of the interest and euphoria that we're seeing around AI.
Victoria Craig· Host0:36
I'm Victoria Craig, and here's the news you need to start your day. [on-hold music] Global oil prices slid four percent to about eighty-four dollars a barrel at the start of trade today. The drop comes after the US and Iran say they finalized a deal to extend their ceasefire and reopen the Strait of Hormuz. Both sides are expected to meet in Switzerland on Friday to officially sign the truce. President Trump said the deal would allow the vital waterway to reopen without any tolls. He also pledged that the US would remove its naval blockade on Iranian ports immediately. If the agreement is implemented, it could allow far more oil to transit through the shipping lane than the trickle that's currently getting through. Ultimately, that would help ease a global supply