Sunday, May 31, 2026
Iran has reasserted control over the Strait of Hormuz as nuclear talks with the US remain deadlocked, with Lebanon's prime minister simultaneously condemning Israeli strikes as collective punishment. Pentagon chief Pete Hegseth has made clear the US is prepared to restart military action if a satisfactory deal isn't reached.
Australia has announced it will buy only secondhand nuclear submarines from the US under the AUKUS agreement, a significant shift from the original plan, while also deploying new drone submarines to protect undersea internet cables. Defence Minister Richard Marles, speaking at the Shangri-La Dialogue in Singapore, declared the seabed a battlefield and called out Beijing over maritime transparency.
SoftBank has committed up to €75 billion to build data centers in France, targeting up to 5 gigawatts of additional capacity in one of the largest single AI infrastructure bets yet seen in Europe. The announcement signals a broader race among tech investors to lock in compute real estate ahead of surging AI demand.
Australia has emerged as a global pioneer in household battery storage paired with rooftop solar, and the results are showing up in bills — benchmark electricity prices have fallen by up to 10% in parts of the country. The shift coincides with the demolition of one of Australia's largest coal power stations, a moment the energy minister used to mark the country's accelerating transition.
A provision in the US's 2027 draft defence bill would bind American and Israeli weapons industries closer than ever before, effectively institutionalising military cooperation at an industrial level. The move advances through Congress as Israel continues operations in Lebanon and the broader regional conflict shows no sign of de-escalating.
