Breakfast News Recap: US Iran strikes deepen as floods, trade tensions and Gaza violence mount

The biggest escalation remains the US campaign against Iran, with American strikes continuing for an 11th straight night, Iranian air defences activated in Tehran and explosions reported near Natanz, while Donald Trump warned the United States was “not finished” and could hit the Pickaxe Mountain area soon.  🔗  🔗

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Washington is also facing the financial and political cost of the conflict, after Defence Secretary Pete Hegseth told senators the war has cost about $37.5bn so far and pressed Congress for urgent extra funding. A US soldier has also been identified after dying in northern Iraq in a controlled detonation of a drone linked to Iran.  🔗  🔗

In the wider Middle East, Israeli strikes in Gaza killed 12 people, including six members of the Al Masri family in central Gaza City, as ceasefire efforts stalled. The Houthis meanwhile threatened to block Saudi shipping and vessels bound for Saudi ports in the Red Sea, raising the risk of fresh disruption to trade routes.  🔗  🔗

Diplomatically, Trump hosted Lebanon’s president Joseph Aoun at the White House and promised to help Lebanon, but gave no timeline for an Israeli withdrawal. The Netherlands also gave final approval to a ban on trade with goods from illegal Israeli settlements in the occupied Palestinian territories, and Brazil updated its Middle East travel warning, urging caution over conflict areas.  🔗  🔗  🔗

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In Europe and the former Soviet region, Volodymyr Zelenskyy dismissed Ukraine’s army chief Oleksandr Syrsky and appointed Mykhailo Drapaty as the new commander in chief after days of protests over military reform. The UN said civilian casualties in the Russia Ukraine war rose sharply in the first half of 2026, while Ukraine struck Wildberries warehouses in southern Russia, injuring several people.  🔗  🔗  🔗

Moldova’s parliament elected financier Vasile Tofan as prime minister in a fresh push for EU membership, and Azerbaijan’s president Ilham Aliyev said former Russian and German officials had been in Baku for a possible meeting on the Ukraine war. In Turkiye, opposition leader Ozgur Ozel said he would form a new party after being removed as CHP leader.  🔗  🔗  🔗

Across Asia, floods have turned deadly in India and Afghanistan, with Upper Assam’s death toll rising to 31 after 21 people died in 24 hours, and at least 23 people killed in Nuristan province as rescuers searched for more than 100 missing. In India, Rahul Gandhi was detained during a sit in outside Narendra Modi’s residence in New Delhi as student protests expanded, while Pakistan-administered Kashmir changed its election schedule after protests, sit ins and violence.  🔗  🔗  🔗  🔗

Trade and policy tensions also widened. Canada and the United States agreed to intensify trade talks after Trump threatened 50% tariffs, and Ottawa cancelled a planned joint opening ceremony for the Gordie Howe International Bridge. Brazil said a new 25% US tariff on part of its exports has taken effect, covering about 3,000 items, while Trump also announced a phased tariff plan for imported generic medicines and approved a 30 year civilian nuclear deal with Saudi Arabia that could allow uranium enrichment on Saudi soil.  🔗  🔗  🔗  🔗  🔗

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Elsewhere, the US Federal Communications Commission proposed banning imports of military grade drones from China, Australia raised concerns with Beijing over a submarine launched missile test, and India’s S Jaishankar is due in Manila for ASEAN meetings including the Quad foreign ministers’ session. In the Americas, New York City Mayor Zohran Mamdani said his administration found it lacked power to arrest Benjamin Netanyahu, while Human Rights Watch accused Ecuadorian soldiers of abusing civilians during joint anti drug operations with the United States.  🔗  🔗  🔗  🔗  🔗

On the domestic political front in Britain, Anas Sarwar is set to stand down as Scottish Labour leader and leave Holyrood for a ministerial role in Andy Burnham’s government. Separately, the UN reported global hunger fell for a third straight year in 2025, although progress remained uneven.  🔗  🔗

Financial glimpse

Wall Street closed mixed, with the S&P 500 and Nasdaq Composite lower, the Russell 2000 slightly higher, and a sharp rotation into oil, gold and silver as tech and chip stocks lagged.  🔗

Asia Pacific opened and then traded lower in Tokyo, where the Nikkei 225 fell sharply as oil and metals surged and the yen weakened, although Hong Kong held up better than Japan.  🔗  🔗

Europe opened mixed, with the FTSE 100 firmer, the DAX and Euro Stoxx 50 little changed and the CAC 40 softer, while Brent moved above $93 and gold, silver and platinum all jumped.  🔗

Sources in this recap

360LiveNews Recap 360LiveNews Recap | 22 Jul 2026 08:45 LONDON
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