Iran deal signed, Warsh’s Fed era and Mangione’s defense

American party, Iranian prayers, Russia’s gasoline crisis and England’s pubs

America celebrates Independence Day with military flyovers, flotillas and fireworks. Funeral prayers and tears for slain Iranian leader Ayatollah Ali Khamenei but still no sign of his son and successor Mojtaba Khamenei. Ukrainian drones hit St Petersburg region oil terminal as Russia’s fuel crisis deepens. And, England fans can drink till dawn after the UK government allows the pubs to open until 5 am for the World Cup match with Mexico. Watch the latest On Assignment ⁠Fourth of July from inside the White House ⁠ [https://www.reuters.com/podcasts/fourth-july-inside-white-house-2026-07-04/]. Listen to the Morning Bid podcast ⁠⁠⁠here⁠⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Freuters.sng.link%2FEng86%2F0flfc%2Fr_b612e09fe6&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600703027%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=72pn%2BR49pQbWZiUyjCiUxbg6BIWNxe8%2F1ITXf4J6dYU%3D&reserved=0]. Sign up for the Reuters Econ World newsletter ⁠⁠⁠here⁠⁠⁠ [https://www.reuters.com/newsletters/reuters-econ-world/].  Listen to the Reuters Econ World podcast ⁠⁠⁠here⁠⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Flink.chtbl.com%2FAbxd8GDx&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600732950%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=fX87JTBYLBuAmci%2B%2FHjeb8W1bVHtGdZQ%2Bcv5KasL9eY%3D&reserved=0]. Visit the ⁠Thomson Reuters Privacy Statement⁠ [https://www.thomsonreuters.com/en/privacy-statement.html] for information on our privacy and data protection practices.  You may also visit ⁠megaphone.fm/adchoices⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fmegaphone.spotify.com%2Fabout-advertisements&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600762287%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=r5x%2BL4%2F6qoa4yP40O1UfyiBlzkKAglq%2F7SacOrB%2F3qI%3D&reserved=0] to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

U.S. turns 250, Taylor-Travis wed and Iran mourns Khamenei

U.S. President Donald Trump marks America's 250th birthday [https://www.reuters.com/world/us/trump-extols-america-rails-communism-us-250th-celebration-2026-07-04/] with a speech at Mount Rushmore, warning of a communist threat from progressive Democrats. Taylor Swift and Travis Kelce married [https://www.reuters.com/lifestyle/taylor-swift-travis-kelce-wedding-celebration-light-up-new-york-2026-07-03/] at Madison Square Garden, with Adam Sandler officiating. Iran began days of funeral processions for Supreme Leader Ayatollah Ali Khamenei [https://www.reuters.com/business/media-telecom/iranians-flock-week-long-funeral-rites-khamenei-2026-07-04/]. Plus, Argentina beat Cape Verde 3-2 [https://www.reuters.com/sports/soccer/extra-time-own-goal-finally-gets-argentina-past-cape-verde-into-last-16-2026-07-04/] in extra time at the World Cup. Watch the latest On Assignment Fourth of July from inside the White House [https://www.reuters.com/podcasts/fourth-july-inside-white-house-2026-07-04/]. Listen to the Morning Bid podcast ⁠⁠here⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Freuters.sng.link%2FEng86%2F0flfc%2Fr_b612e09fe6&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600703027%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=72pn%2BR49pQbWZiUyjCiUxbg6BIWNxe8%2F1ITXf4J6dYU%3D&reserved=0]. Sign up for the Reuters Econ World newsletter ⁠⁠here⁠⁠ [https://www.reuters.com/newsletters/reuters-econ-world/].  Listen to the Reuters Econ World podcast ⁠⁠here⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Flink.chtbl.com%2FAbxd8GDx&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600732950%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=fX87JTBYLBuAmci%2B%2FHjeb8W1bVHtGdZQ%2Bcv5KasL9eY%3D&reserved=0]. Visit the Thomson Reuters Privacy Statement [https://www.thomsonreuters.com/en/privacy-statement.html] for information on our privacy and data protection practices.  You may also visit megaphone.fm/adchoices [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fmegaphone.spotify.com%2Fabout-advertisements&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600762287%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=r5x%2BL4%2F6qoa4yP40O1UfyiBlzkKAglq%2F7SacOrB%2F3qI%3D&reserved=0] to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

A weekend like no other: Khamenei's funeral, America's birthday and Taylor's wedding bash

Iran prepares to bury its slain leader, Ayatollah Ali Khamanei, with a week of mass mourning. Taylor Swift and Travis Kelce are widely expected to host their wedding celebration at Madison Square Garden. And America celebrates the 250th anniversary of its Declaration of Independence on Saturday. Listen to the Morning Bid podcast ⁠⁠here⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Freuters.sng.link%2FEng86%2F0flfc%2Fr_b612e09fe6&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600634080%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=78Ppb%2FgS6uiby6qWshbaJDTUn%2Fl8REr7WrXwEh2OZp4%3D&reserved=0]. Sign up for the Reuters Econ World newsletter ⁠⁠here⁠⁠ [https://www.reuters.com/newsletters/reuters-econ-world/]. Listen to the Reuters Econ World podcast ⁠⁠here⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Flink.chtbl.com%2FAbxd8GDx&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600673954%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=bVY7gCotsBlqaGM9%2BvNVcuniqclEUMjnoY0IiARFW4A%3D&reserved=0]. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

US World Cup win, Trump’s crypto conflict, UK racism and Taylor Swift’s wedding

The United States reaches the last 16 at the World Cup with a dramatic 2-0 win against Bosnia that saw Folarin Balogun sent off. U.S. President Donald Trump pockets at least $1.4 billion from crypto ventures made lucrative by his administration’s policies. Russia hits Kyiv with missiles and drones. Anti-migrant politics fuel a resurgence of racism in the UK. And excitement reaches fever pitch over speculation that Taylor Swift and Travis Kelce are tying the knot this weekend. Listen to the Morning Bid podcast ⁠⁠here⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Freuters.sng.link%2FEng86%2F0flfc%2Fr_b612e09fe6&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600634080%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=78Ppb%2FgS6uiby6qWshbaJDTUn%2Fl8REr7WrXwEh2OZp4%3D&reserved=0]. Sign up for the Reuters Econ World newsletter ⁠⁠here⁠⁠ [https://www.reuters.com/newsletters/reuters-econ-world/]. Listen to the Reuters Econ World podcast ⁠⁠here⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Flink.chtbl.com%2FAbxd8GDx&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600673954%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=bVY7gCotsBlqaGM9%2BvNVcuniqclEUMjnoY0IiARFW4A%3D&reserved=0]. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Birthright citizenship, Trump’s crypto haul, Serena Williams and Medicare

The U.S. Supreme Court upholds birthright citizenship in a blow to President Donald Trump’s agenda. Financial disclosures show he earned more than $1.4 billion from his family’s crypto ventures last year. Volatility in the U.S. tech sector fuels fears of a bubble. Millions of seniors get $50 weight loss drugs under a new Medicare plan. The FBI says ransom notes linked to the disappearance of Savannah Guthrie’s mother are fake. Thousands march across South Africa demanding migrants leave the country. And Serena Williams’ Wimbledon comeback fizzles out. Listen to the Morning Bid podcast ⁠⁠here⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Freuters.sng.link%2FEng86%2F0flfc%2Fr_b612e09fe6&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600634080%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=78Ppb%2FgS6uiby6qWshbaJDTUn%2Fl8REr7WrXwEh2OZp4%3D&reserved=0]. Sign up for the Reuters Econ World newsletter ⁠⁠here⁠⁠ [https://www.reuters.com/newsletters/reuters-econ-world/]. Listen to the Reuters Econ World podcast ⁠⁠here⁠⁠ [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Flink.chtbl.com%2FAbxd8GDx&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cc612f3251f884fc5e8ed08de5a5d74fe%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C639047554600673954%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=bVY7gCotsBlqaGM9%2BvNVcuniqclEUMjnoY0IiARFW4A%3D&reserved=0]. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]