US, Iran agree ceasefire deal as Trump heads to G7 summit

The U.S. and Iran have reached a landmark ceasefire deal that will reopen the Strait of Hormuz without tolls and lift the U.S. naval blockade on Iranian ports—just as President Trump arrives for the G7 summit in Evian-les-Bains, France. The agreement, set to be signed in Switzerland, could ease a global oil supply crunch, with nearly a fifth of the world’s daily crude previously passing through the strait. Despite the war’s shadow over the summit, Trump is expected to hold bilateral talks with regional leaders from Egypt, Qatar, and the UAE, potentially creating a parallel diplomatic channel. Meanwhile, global markets are surging on AI enthusiasm: SpaceX’s IPO made Elon Musk a trillionaire, and Anthropic secured a $35 billion debt deal, signaling massive investor appetite for AI infrastructure—even amid geopolitical tensions. Yet, not all sectors are thriving; enterprise tech firms facing AI disruption are struggling to go public, raising questions about whether the current market euphoria is sustainable. In a cultural moment, the New York Knicks’ first NBA title in 54 years has sparked a citywide celebration and doubled shares in Madison Square Garden Sports. The episode closes with a leadership lesson from former Goldman Sachs CEO Lloyd Blankfein: true teamwork requires not just accepting criticism, but delivering it with care.