Axios World

Brent crude oil climbed more than 1% to above $110 per barrel when markets opened Sunday and remained high into the night amid mixed signals about the Iran war that's creating unprecedented disruption to global energy flows.Why it matters: President Trump is signaling major escalation, but also told Axios' Barak Ravid that the U.S. is in "deep negotiations" with Iran.Trump is threatening to bomb Iran's power plants and bridges starting Tuesday if the regime doesn't open the Strait of Hormuz.The

The U.S., Iran and a group of regional mediators are discussing the terms for a potential 45-day ceasefire that could lead to a permanent end to the war, according to four U.S., Israeli and regional sources with knowledge of the talks.Why it matters: The sources said the chances for reaching a partial deal over the next 48 hours are slim. But this last-ditch effort is the only chance to prevent a dramatic escalation in the war that will include massive strikes on Iranian civilian infrastructure

Some Democrats eyeing runs for the White House have rolled out a provocative new economic policy: massive tax cuts for the working and middle classes — and big hikes for the wealthy.Why it matters: Republicans may lose the midterm elections because of voters' anger over high prices, but Democrats are still struggling to figure out how to address voters' concerns about inflation.Driving the news: The proposals by Democratic presidential hopefuls include eliminating federal income taxes for half o

Democrats weighing runs for the White House want to forget many of the positions they took in 2020 — and they're hoping voters will too.Why it matters: Leaders and would-be leaders in the party have shifted their views on border security, DEI, crime, climate change, COVID-era lockdowns and more — all with an eye on this year's midterms and the 2028 presidential election.Many Democrats believe they lost to Donald Trump in 2024 because voters didn't like some of their left-leaning policies, not ju

Pope Leo XIV and the top U.S. Catholic bishop for the military both used Easter Sunday to emphasize Jesus' message of peace amid the escalating Iran war.Why it matters: The first U.S.-born pope urged those who "unleash wars" to lay down weapons as President Trump continued his increasingly aggressive wartime rhetoric on Sunday to demand that Tehran "Open the F--kin' Strait, you crazy bastards, or you'll be living in Hell — JUST WATCH! Praise be to Allah." Leo and U.S. Roman Catholic leaders have

President Trump threatened to bomb Iran's power plants and bridges starting Tuesday if the regime doesn't open the Strait of Hormuz. Why it matters: Trump's 10-day deadline to Iran is expected to expire Monday. He previously threatened to bomb the country's energy, water and oil infrastructure if no deal was reached to open the strait.Tehran has accused Trump of planning to commit war crimes and threatened to retaliate with similar attacks against infrastructure in Israel and in other Gulf state

President Trump claimed in an interview with Axios that the U.S. is "in deep negotiations" with Iran and that a deal can be reached before his deadline expires on Tuesday."There is a good chance, but if they don't make a deal, I am blowing up everything over there," he said. Why it matters: The mediators are less optimistic that a deal is close but say they will work to the last minute to reach at least a partial agreement to delay Trump's ultimatum. Trump has threatened to destroy infrastructur

President Trump told Axios the U.S. initially worried that a message from the stranded crew member of an F-15 downed by Iran was a trick by the Iranians to lure U.S. forces into a trap.The big picture: The crew member survived more than 24 hours in the mountains despite being wounded, before being rescued in a special forces operation on Saturday. Around 200 soldiers from special operations units participated in the operation, Trump said.Trump said the Iranian military shot down the F-15 using a

U.S. special forces rescued the second crew member of the F-15 fighter jet that was shot down over Iran, three U.S. officials tell Axios. The crew member, a weapons system officer, was wounded after ejecting from the aircraft on Friday but could still walk, and evaded capture in the mountains for more than a day, one of officials said.The big picture: The shootdown was a nightmare scenario for the U.S. military, with the Islamic Revolutionary Guard Corps (IRGC) also racing to locate the missing

President Trump threatened on Saturday that "hell will reign down" on Iran if the regime doesn't agree to open the Strait of Hormuz within 48 hours. Why it matters: Trump's 10-day deadline to Iran is expected to expire on Monday. He previously threatened to bomb the country's energy, water and oil infrastructure if no deal was reached to open the strait.Tehran has accused Trump of planning to commit war crimes.Over the last ten days the U.S. and Iran have held indirect negotiations through Pakis

Criminals are growing bolder, stealing priceless art, jewels and truckloads of goods — but it's harder than it looks for them to cash in on their heists.Why it matters: Because massive heists immediately dominate global news cycles, thieves quickly find themselves stuck with highly recognizable merchandise that even underground buyers are too afraid to touch.Driving the news: Thieves smashed into a small museum in the Italian countryside late last month, stealing three paintings worth over $10 m

Data: White House; Chart: Erin Davis/Axios VisualsPresident Trump's new budget lays bare the transformation of his presidency, pairing a historic surge in military spending with historic cuts to domestic programs.Why it matters: The most powerful populist of this century is at risk of becoming what he ran against — a deficit-spending interventionist asking working-class Americans to shoulder the cost of war.The timing couldn't be worse: Trump is bleeding support over the Iran war, hitting the lo

Keep a close eye on the ads that inundate your screens as the 2026 midterm elections heat up. You, the taxpayer, paid for some of them.Why it matters: Each election cycle, incumbent House members use a privilege called "franking" to put millions in taxpayer dollars towards giving their reelection campaigns a thinly veiled boost.In the 2024 election cycle, House offices spent a combined $44 million on franked mail and another $19 million on other forms of franked communications such as ads, an Ax

A U.S. judge on Friday stood by his decision to quash Department of Justice subpoenas targeting Federal Reserve chair Jerome Powell.Why it matters: The ruling is the latest development in the Trump administration's unprecedented investigation into the nation's top central banker.The government can appeal the decision, prolonging a standoff that could delay the confirmation of Kevin Warsh — President Trump's pick to replace Powell.Driving the news: The U.S. District Court for Washington, D.C., de

Cocoa prices have plunged from last year's record highs — but shoppers are still paying more for Easter chocolate, Wells Fargo says.Why it matters: Once food companies raise prices, they're slow to bring them back down when ingredient costs fall — even as consumers are expected to spend a record $24.9 billion on Easter this year, according to the National Retail Federation. State of play: Major chocolate companies raised prices by up to 20% during the cocoa spike in 2024-2025, per a Wells Fargo

One of two crew members of a U.S. fighter jet that was shot down over Iran was located and rescued by U.S. special forces, and the search for the second is ongoing, an Israeli official and a second source with knowledge of the situation told Axios. The latest: Iran is also hunting for the crew and has asked civilians in the area to join the search, offering a reward if they're found.The Iranian armed forces said in a statement that it had struck an American A-10 attack aircraft in a separate in

Data: Bureau of Labor Statistics; Chart: Courtenay Brown/AxiosThe economy has spent much of the past year lurching between job gains and losses. Call it the yo-yo job market. Why it matters: For years, the labor market reliably added jobs every single month, even as hiring cooled.The economy has entered a more volatile state, with March's blockbuster jobs report arriving in a more unsettling pattern of sharp gains followed by outright losses.What they're saying: "Job growth has alternated from n

NASA just posted one of the first photos from Artemis II, capturing "Spaceship Earth" in all its blue-and-white glory.In the photo, taken by mission commander Reid Wiseman: Two auroras (top right and bottom left), plus "zodiacal light" in the bottom right.That's sunlight scattered by interplanetary dust.Driving the news: Artemis II is now Moonbound, with a six-hour lunar orbit planned for Monday. (Mission updates ... Live tracker.)Newly added to the plan: A solar eclipse, with the Sun hidden beh

The ousters of Army Chief of Staff Gen. Randy George and Army Gen. David Hodne blindsided military leaders and have generated concern among defense officials about the implications for the war in Iran and the longer-term adoption of new tech and tactics.Why it matters: George and Hodne join a growing list of general and flag officers booted by Defense Secretary Pete Hegseth. These abrupt exits have reshaped the Joint Chiefs of Staff, intel-collecting agencies and combatant commands.Driving the n

Data: Bureau of Labor Statistics; Chart: Courtenay Brown/AxiosThe labor market snapped back with 178,000 jobs added in March, while the unemployment rate ticked down to 4.3%, the government said Friday.Why it matters: Hiring boomed after shedding jobs in February, suggesting a steadying labor market as the Iran war injected fresh uncertainty into the economic outlook.The data captures the first full month of hiring since the Iran war began, offering an early read on how businesses are responding