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After the greatest comeback in NBA finals history - 29 points! - "the greatest shot in Knicks history" - Anunoby's last-second tip-in - some divine intervention - a Pope Leo jersey - and a smudging to erase the vile Trump stench, the New York Knicks are in sight of their first title in over 50 years. "Bedlam at the Garden!" ESPN exclaimed. And across the city, now a jubilant, unified sea of orange and blue watch parties, viral chants, rare hope against hope. One fan: "The city feels alive. Thank God for the Knicks."
The Knicks had won a remarkable 13 straight playoff games, last losing in April, before the seven-game finals against the San Antonio Spurs; of those, they won the first two, only to fall to Trump Disaster Syndrome - everything he touches dies - in the third. In Wednesday's nail-biter of a Game 4, they began their historic rally in the second half, chipping away at a seemingly hopeless 29-point deficit, gaining ground in the 4th quarter and, with a stunning 1.2 seconds left, taking it 107-106 after OG Anunoby gently tipped in a Jalen Brunson shot that ricocheted short. The epic win leaves the Knicks within one game of a championship they haven't won since 1973, when their city looked like this. Now, residents say, it's "electric."
The Knicks' success has created frenzied joy in a city beset by high prices, traffic snafus and years of sports heartaches - amidst which long-suffering Knicks fans, says one, "have endured, a specific species of human that should be studied." They also present a unified front in a city split between baseball's Yankees and Mets and football's Jets and Giants. New Jersey will host this year's World Cup finals, but its tribute to "the beautiful game," long plagued by scandal and corruption, is already marred by a racist regime hassling, interrogating or barring players, officials, journalists and fans from Somalia, Senegal, Haiti, Iraq, Iran and other dark-skinned locales, with a looming threat of ICE goons in attendance.
In contrast, the come-from-behind Knicks have done what sports at their best should: bring people together. New York's rush hour has become a vast sweep of blue and orange caps, jerseys, hoodies, with a “Please win before I die” t-shirt from Old Jewish Men. Strangers on streets and subways do a peculiarly New York call-and- response: “Let’s go Knicks!” to “Knicks in five!” Bar and neighborhood watch parties pop up, some using bedsheet screens. One was just held at a Brooklyn funeral home - "If things go wrong, there's room for grief" - with a poster board for fans to write the names of those they're missing, "just like the the guy down the street and the lady in the bodega...so people know they're not alone.
The finals have given a boost to legit pan-sports nerd - "New Yorkers can smell a phony" - Mayor Zohran Mamdani. A rabid Arsenals fan, he's heavily promoted the World Cup - choosing Morocco to win in The Guardian's Bracketology game - "The heart wants what it wants" - offering $50 tickets to 1,000 New Yorkers, celebrating the vision of Brazilian, German, Ecuadorians who will "watch together, celebrate together, shout at referees together - respectfully." With the Knicks, he's likewise praised how Knick fever has "lit this city up" and relished his role as head, albeit ambivalent, cheerleader against a common sports foe. Asked in April about a possible win, he said, "As a New Yorker, I can't wait. As the mayor? Absolute chaos."
Again, he's all in. As a candidate, he interviewed Knicks fans and made Go-Knicks videos. During the finals, he's turned up at watch parties, put hand-painted cutouts of former Knicks greats at City Hall, visited a Knicks-hued subway stop, touted the $90 million in revenues from each home game, sported a Knicks jersey under his suit jacket and signed a symbolic executive order repealing bedtimes for kids during the finals. While resale ticket prices to home games have obscenely soared to over $8,000, and many courtside seats are reportedly gifted to local celebrities, Mamdani shelled out $1,000 for a standing room only ticket to the Monday game - unfortunately, the one hijacked by the Narcissist-In-Chief.Like New Yorkers didn't hate him enough already, Trump's random, clueless attendance saw watch parties cancelled, hours-long lines, bags banned, fans and even players (understandable, given most are black) TSA-wanded, and a blocks-wide, NYPD-enforced "frozen zone" that turned the area outside Madison Square Gardens from "a showcase of unbridled humanity to a post-apocalyptic wasteland" - all for him to be thunderously booed as he smirked, saluted and promptly fell asleep until his granddaughter poked him awake. It probably didn't help when those who'd waited in line for hours also got to see fucking Jared Kushner, "patron saint of failing upward," respectfully, infuriatingly escorted in by police.
Before Wednesday's game, a fan thoughtfully burned sage outside the Garden "to remove the sulfuric stench and bad vibes" from Pres. Poopy-Pants' visit. The Knicks also reportedly got help from on high: From the three "Nova Knicks” - Brunson, Hart, Bridges - who graduated from Catholic Villanova, and Pope Leo XIV, who earned a math degree there in 1977. To ensure his blessing, die-hard Knicks fan Spike Lee had earlier worn a custom Knicks jersey - "Pope Leo #14" - he'd had "P🏀PE LE🏀" sign at the Vatican last year. Thus, the surreal 29-point comeback, and "the most iconic shot in the history of New York basketball" - per OG, "right hand from God." The Nation's Dave Zirin: "With the Trump Stench Gone, the Knicks Make History."
- YouTube www.youtube.com
What Ben Stiller courtside called “the most insane comeback I’ve ever seen” left astounded fans and MSG staff roaring, leaping, open-mouthed with joy and shock. Within minutes of the buzzer, thousands of blue-and-orange-bedecked fans had surged into the city streets, chanting "Knicks in five!" and, in a few feral instances, "Fuck you Wemby!" A Knicks robot chased some Spurs fans, cops arrested a few rowdy fans, the Empire State Building glowed in orange and blue. The New Yorker's David Remnick couldn't sleep after "the greatest Knicks win ever" and OG's "most astonishing shot in franchise history"; he got up at 3 a.m. to grimly doomscroll on "the truth machine to see if this had really happened," and finally "realize it was true."
"Curb your enthusiasm," he warned, and yes, Larry David was courtside, thrilled. "At least a little." Remnick noted that Saturday is the fifth game, and anything can still happen. Fandom, he added, "is complicated, also mostly a matter of patience. Real fandom is about endurance and waiting." Likely nothing that MD Ahnaf Hossain, a 23-year-old Knicks fan and TikToker with smart marketing skills, doesn't know. Reveling in a moment of sportsmanship "bringing a type of love we haven’t seen in the city for a long, long time,” he created a hip-hop, Haiku-like anthem to celebrate its unity in toxic, racist, divisive times. “I grew up with Jews, Muslims, Haitians, Pakistanis, Bengalis,” Hossain said. “I just had to bring everyone together.”
His first "pure New York City poetry" came after the Knicks lost the third game. He wrote and recorded, "My mayor Muslim/My bagel’s Jewish/My Christian Dior/Knicks in four." It got over 7 million views. After Wednesday's impossible win, he filmed an updated version: "My mayor still Muslim/My bagel’s still Jewish/The pope’s on our side/Knicks in five." Meanwhile, his mayor, Mamdani, posted his own response to the win: “SPEECHLESS. LFGK,” aka "Let's fucking go Knicks." He also made a brief, giddy video. "The energy in our city is incredible," he said. "Time and again, people have doubted the Knicks. Time and again, the Knicks have proven the doubters wrong... I have just three words for my fellow New Yorkers. Knicks in 5."
The Trump administration is set Friday to sell oil and gas drilling leases on 689,000 acres in the Arctic National Wildlife Refuge, a pristine and protected area in northeastern Alaska's coastal plain known for its massive biodiversity and held sacred by its Indigenous inhabitants.
The US Department of the Interior's (DOI) Bureau of Land Management (BLM) is offering 60 tracts in the ANWR to fossil fuel companies that submitted bids by Wednesday. The lease sale is the first of four in the ANWR mandated under the One Big Beautiful Bill signed by President Donald Trump last year and follows two previous sales this decade, one of which saw little interest during Trump's first term and another that generated no bids during the tenure of former President Joe Biden.
The sale is part of Trump's "drill, baby, drill" fossil fuel agenda and follows last October's reopening by the DOI of 1.56 million acres of the Coastal Plain to oil and gas leasing. The move reversed the Biden administration's 2023 cancellation of all existing oil and gas leases in the ANWR and ban on drilling across 13 million acres of the adjacent National Petroleum Reserve.
The Trump administration also recently transferred approximately 1.4 million acres of public lands along the Dalton Utility Corridor from the BLM to the state of Alaska, a move one conservationist warned "will only help corporate polluters transform Alaska into an industrial wasteland... for the sake of expanding the portfolios of mining and oil and gas companies."
The ANWR is home to Indigenous peoples, primarily the North Slope Iñupiat and the Gwich’in. The former are generally supportive of fossil fuel development, arguing that it provides jobs and revenue and boosts self-determination, while the latter broadly opposes drilling.
The Gwich'in call the area “the sacred place where life begins" and rely upon its rich biodiversity—especially its 200,000-strong porcupine caribou herd—for their survival. ANWR boasts some 270 animal species, including musk oxen, Arctic foxes, snow geese and other migratory birds, and all of the world’s remaining South Beaufort Sea polar bears.
While the American Petroleum Institute, the nation's leading fossil fuel lobby, welcomed Friday's lease sale, calling Alaska's oil and gas "key to America's energy security," Kristen Moreland, executive director of the Gwich'in Steering Committee, countered that "some places are too important to sacrifice."
In a Thursday call with reporters, Moreland said that "tomorrow's lease sale is about much more than economics or development. It is about whether our voices, our culture, and our way of life matters."
Conservationists also denounced the lease sale, which Earthjustice—part of a coalition challenging the DOI's policy in federal court—called "another effort to sell out our public lands to boost corporate profits, while Indigenous communities, wildlife, and future generations carry the risk."
US Sen. Tim Kaine (D-Va.) said Friday on X that "America's public lands—including the incredible Arctic National Wildlife Refuge—belong to all of us. But now the Trump-Vance administration is auctioning it off to their Big Oil cronies that already have plenty of other areas to drill."
In a video posted Thursday on social media, US Sen. Martin Heinrich (D-NM) called ANWR "the crown jewel of our American National Wildlife Refuge system."
"Tomorrow, the Trump administration is gonna try to lease the Arctic National Wildlife Refuge for oil drilling. So I've got a message for all the oil majors out there," the senator said. "I understand you have a job to do. That job never involves drilling in American national parks or national wildlife refuges. Don't bid."
Congresswoman Adelita Grijalva (D-Ariz.) also posted a video addressing the lease sale and arguing that Big Oil—part of an industry that spent nearly $450 million during the 2024 election cycle on campaign donations, lobbying, and other efforts to elect Trump and down-ballot Republicans—is "calling the shots."
The Alaska Wilderness League said on X that "no matter how the administration and oil industry spin today’s lease sale, the outcome doesn’t change: weak demand, shrinking interest, and a story that keeps collapsing under its own promises."
"The Arctic is not for sale, never has been, never will be," the group added. "Hands off the Arctic."
President Donald Trump during the 2024 campaign vowed to bring down the cost of living starting on the very first day of his presidency.
However, data released by the US Bureau of Labor Statistics (BLS) on Wednesday showed overall prices in May posted a yearly increase of 4.2%, marking the highest rate of inflation since 2023. Core inflation, which excludes food and energy costs, posted a yearly increase of 2.9%, the highest rate since September 2023.
Energy prices, which have skyrocketed since Trump launched an illegal war of choice with Iran in late February, were the primary driver of inflation last month, posting a 23.5% yearly increase from May 2025.
Heather Long, chief economist at Navy Federal Credit Union, noted that inflation last month was "so high that it's erasing all wage gains," which posted a yearly gain of 3.4% in May.
"Americans are getting squeezed financially," Long explained. "This isn't just 'bad vibes' about the economy. There is real pain, especially for middle-class and lower-income households. It's tough because so many basic items are seeing sizable price increases: gas, electricity, food, medical care."
"Americans are getting squeezed financially," Long explained. "This isn't just 'bad vibes' about the economy. There is real pain, especially for middle-class and lower-income households. It's tough because so many basic items are seeing sizable price increases: gas, electricity, food, medical care."
New York Times economics reporter Ben Casselman similarly noted the impact that rising energy costs, which are a direct result of Trump's Iran war, have had on Americans' earnings.
"The recent surge in energy prices has wiped out more than a year's worth of wage gains," Casselman wrote in a social media post. "Average hourly earnings, adjusted for inflation, are now back to exactly where they were when Trump returned to office."
Economist Steve Rattner posted a chart showing how energy prices exploded after Trump attacked Iran, which retaliated by shutting down the Strait of Hormuz to all commercial shipping.
"An entirely self-inflicted wound caused by Trump’s war on Iran," Rattner remarked.
The inflation story in one chart: gas +40% y/y, energy +24%.
An entirely self-inflicted wound caused by Trump’s War on Iran. pic.twitter.com/LnM5AKkXeA
— Steven Rattner (@SteveRattner) June 10, 2026
Charlie Bilello, chief marketing strategist at Creative Planning Investor, said the latest inflation numbers were so concerning that the US Federal Reserve "should be hiking rates" at its next meeting.
A decision to hike rates would likely anger Trump, who frequently pressured former Federal Reserve Chairman Jerome Powell to slash rates.
Rep. Don Beyer (D-Va.) responded to the inflation report by taking a shot at Trump for his economic mismanagement, including his tariffs on imported goods that have raised costs for US consumers.
"Trump promised repeatedly that he would 'end inflation' starting on day one but by almost every measure, he's failed to achieve those goals," Beyer said. "And far from lowering costs, his tariffs have only made the affordability crisis worse for the American people."
Alex Jacquez, chief of policy and advocacy at the Groundwork Collaborative, said the new data makes clear that "high prices are here to stay."
"This month’s CPI print offers no relief to working families, who are being forced to pinch pennies and tighten belts in Trump’s economy," said Jacquez. "Working Americans no longer have any breathing room in their budgets and are dipping into their savings while the president spends millions in taxpayer funds to attend the NBA Finals. Trump’s betrayal of the working class has done lasting damage to our economy.”
A federal judge may have dealt the final blow to President Donald Trump's $1.8 billion "weaponization fund" on Friday, indefinitely blocking it and ordering his administration to state unequivocally that it's no longer happening.
In the face of bipartisan backlash, acting Attorney General Todd Blanche had publicly backed off plans to use the money earlier this month, and a court temporarily blocked the transfer of the money to what opponents had dubbed a "slush fund" for Trump's supporters, including January 6 rioters who claim to be victims of government "weaponization" by the Biden administration.
But The Atlantic reported on Thursday that even as the US Department of Justice (DOJ) publicly swears that the payouts are dead, administration officials have been reassuring Trump's cronies behind the scenes that they'll get their checks and that the administration simply needs to wait for the legal blowback to die down or find an alternative way to award them the money, which was set to follow a DOJ-brokered settlement between Trump and his own Internal Revenue Service (IRS).
That may prove more difficult after Friday, however, when US District Judge Leonie M. Brinkema issued a preliminary injunction indefinitely extending her previous two-week pause on the fund.
She described the arrangement, to have taxpayer funds disbursed without court rulings to “an extremely small group” that many Americans feel engaged in “unacceptable” conduct, as "problematic."
The DOJ had attempted to have the case against the fund dismissed, arguing that it was now a moot point, since Blanche had publicly declared it dead. But Brinkema said, "The [government’s] mootness argument, in my view, doesn’t go anywhere.”
While the DOJ stated that the fund has “not been set up and is now not going forward," Brinkema noted that Blanche had declined to state that under oath, while Trump has publicly continued to champion the fund even as his administration has backed away from it.
During the hearing in the Eastern District of Virginia, Brinkema pressed DOJ lawyer Andrew Block on why, if the fund was truly defunct, the administration had not formally rescinded the order setting it up. He said he didn't know.
The judge gave Blanche, Associate Attorney General Stanley Woodward Jr., and Treasury Secretary Scott Bessent, whose department would have overseen the fund, one week to sign a “clear, unambiguous” declaration stating under penalty of perjury that the fund is dead, and wrote in the order that they must affirm that it "will not proceed in any manner, or under any name."
She said in order for the lawsuit to be thrown out, the government needed to put it in writing because "we don’t have the kind of absolute certainty that this fund wouldn’t rear its head."
CEO @SkyePerryman and Senior Counsel Pooja Boisture break down our major slush fund win from court. pic.twitter.com/ngneLRsl8R
— Democracy Forward (@DemocracyFwd) June 12, 2026
Outside the courtroom, Skye Perryman, the president and CEO of Democracy Forward—the watchdog group that sued the DOJ—celebrated that the court had "put the brakes on Donald Trump's slush fund."
The group is representing several plaintiffs who say they'd be harmed if the fund were to be enacted.
They include a former federal prosecutor fired after leading January 6 cases; the city of New Haven, Connecticut, which has been targeted by the administration over its sanctuary policies; the National Abortion Federation, which says the fund could reward anti-abortion activists convicted of clinic-related offenses; and the watchdog group Common Cause, which argues that the opaque scheme could embolden January 6 defendants.
"We were thrilled that the judge understood the significant harm that our clients face as a result of the fund, as well as the American people," said Democracy Forward senior counsel Pooja Boisture. "We were thrilled that she got it right. She understood that this was not a partisan issue."
It remains unclear whether the order would stop the administration from pursuing other methods for rewarding Trump's allies. Reuters reported on Friday that his legal allies have discussed dusting off a 1946 law called the Federal Tort Claims Act, which would allow individuals to file administrative claims and lawsuits that could be settled out of court with a lot of flexibility for the government.
“The Trump administration cannot be trusted with the public’s money,” said Omar Noureldin, Common Cause’s senior vice president for policy and litigation. "We’ve successfully locked the president’s personal slush fund for now, and we’ll keep the pressure on until it’s shut down for good.”
The Trump administration is once again being accused of using immigration enforcement to silence speech after it reportedly launched an investigation into one of the most prominent critics of the president's war in Iran, Trita Parsi, as part of an effort to deport him.
Parsi, an Iranian-Swedish citizen who holds a green card in the US, is the co-founder and executive vice president of the Quincy Institute for Responsible Statecraft and co-founded the National Iranian American Council (NIAC).
Since February, when the US and Israel launched a war against Iran that has killed more than 1,700 civilians, wracked the global economy, and spiraled out across the Middle East, Parsi has been a highly cited anti-war voice in the media.
But according to an exclusive report from The Free Press published on Thursday, which quotes senior Trump administration officials, the State Department views Parsi, who has lived in the US for 25 years, not as "another Washington pundit eager to share his point of view," but as someone seeking to nefariously spread "Iranian influence."
“The secretary has been very clear,” an unnamed Trump administration official said, referring to Secretary of State Marco Rubio. “Anyone who seeks to undermine the US, we’re taking a hard look at.” That includes “people who support adversaries of ours and whose work furthers their agenda and undermines our security.”
Since attacking Iran, the Trump administration has brought the hammer down on other Iranians living legally in the US due to their alleged sympathies with their nation of origin.
In April, the State Department arrested two women alleged to be the niece and grandniece of Iranian Gen. Qasem Soleimani, who was extrajudicially assassinated in an airstrike ordered by President Donald Trump in 2020. Rubio accused the two women of promoting "regime propaganda," revoking their green cards, though documents later revealed that the women had no connection to the slain general.
The administration also canceled the visa belonging to the daughter of Ali Larijani, secretary of Iran’s Supreme National Security Council, who was assassinated in March.
The administration has similarly wielded its powers against foreign-born critics of Israel, including Columbia University student protest leader Mahmoud Khalil, and Tufts University student Rümeysa Öztürk, who was snatched off the street by immigration agents and detained for weeks over an opinion piece she co-wrote calling on her school to divest from Israel. The White House's deportation effort against her was thrown out by an immigration judge in February.
Documents unsealed in January showed that five pro-Palestine student activists singled out by the State Department, including Öztürk and Khalil, were targeted for deportation for no other reason than their speech and were not accused of any wrongdoing.
Relying on a previously rarely used provision in the McCarthy era Immigration and Nationality Act, the administration has defended its right to strip legal residents of their status on the grounds of speech alone that was adverse to a "compelling United States foreign policy interest.”
In the case of Khalil, Rubio acknowledged in a memo that his speech was “otherwise lawful,” but claimed that allowing him to remain in the country would undermine the Trump administration's foreign policy goals of supporting Israel and "combating antisemitism."
A similar justification appears to be undergirding the administration's attacks on Parsi. According to The Free Press, the administration has highlighted his and his organization's public warnings against escalation against Iran, his role as an informal adviser to negotiations for the 2015 Iran nuclear deal, opposition to US sanctions against the country, and correspondence with Iranian officials as evidence that he is working to further Tehran's influence.
While Parsi has not yet publicly confirmed that an investigation is underway, The Free Press reported that the Quincy Institute has prepared for legal action if the government attempts to have him detained or deported.
The outlet cited a memo from Quincy CEO Lora Lumpe, who noted that Parsi had recently come into the crosshairs of the notorious pro-Trump influencer Laura Loomer, who accused him of being “a mouthpiece for the Iranian regime" and threatened that his “days in our country are numbered.”
The State Department has previously appeared to make decisions directly in response to Loomer's online outbursts. Loomer was the first to erroneously claim that the two women detained in April were relatives of Soleimani. She also took credit for the department revoking the visa of the British commentator and Israel critic Sami Hamdi, who was abducted by US Immigration and Customs Enforcement (ICE) in the middle of a speaking tour.
The State Department has also appeared to follow her lead after she called for it to block children injured during Israel's genocide in Gaza from entering the US on medical humanitarian visas to receive desperately needed surgeries and rehabilitative care.
News of the State Department's pursuit of an investigation against Parsi was described as the latest attempt by the Trump administration to use the threat of deportation to bully critics into silence.
"Trita Parsi is a courageous and outspoken critic of the US-Israeli war on Iran, alongside whom we’re proud to have worked in opposition to war and injustice for many years," said the civil liberties organization Defending Rights & Dissent. "The Trump administration’s investigation of Parsi is an outrageous attack on free speech. Government officials are explicit that they are exploring deporting Parsi specifically for his advocacy—a blatant affront to the First Amendment."
Branko Marcetic, another prominent war opponent who writes for Jacobin magazine, called the attack on Parsi "contemptible."
"Irony is if the Trump admin had listened to Parsi, they'd be in much better shape now," he added. "Instead, they put their political futures in the hands of people Trump himself called warmonger idiots, and now they're left throwing this bureaucratic temper tantrum."
Drop Site News, which has often interviewed Parsi as an expert, also noted the significance of the fact that the "exclusive" report was being published by The Free Press, a hawkish right-wing publication that "has repeatedly published articles that amplify official pressure on critics of Israel, US wars, and aggressive foreign policy, contributing to a chilling effect intended to deter others from speaking out."
Some of Parsi's ideological opponents have also warned against the government's efforts to punish his speech, like Kaveh Shahrooz, a prominent Iranian-Canadian advocate for regime change in Iran.
"You’d be hard-pressed to find anyone who, over the past decade, has been more aggressively outspoken against Trita Parsi and NIAC than I have," Shahrooz said. "But I’m deeply uncomfortable with what’s being reported."
"Unless the [US government] can demonstrate that Parsi violated US law... deporting him would amount to targeting someone for their speech and political beliefs," he continued. "An abuse of government power directed at someone you despise today can very easily be directed at you, or at someone you support, tomorrow."
Update (6/13/2026): Following the publication of this piece, the US State Department issued a statement that it "has no plans to revoke the green card of Mr. Parsi at this time."
Parsi has responded to the reports with a post to his Substack, in which he said, "I don’t believe there was any investigation against me," but that "some elements within the State Department wanted to start one and thought external pressure," via The Free Press' report "could help move things forward." Parsi's full response can be read here.
While Elon Musk's SpaceX rockets have typically had no trouble exploding on their own accord, they could soon get some assistance from the Islamic Revolutionary Guard Corps.
Tehran's state-run Fars News Agency reported on Thursday that Iranian officials have added assets owned by Musk throughout the Middle East to their target lists, noting the US and Israeli military's use of SpaceX's Starlink satellite services in operations against Iranian infrastructure.
As reported by Forbes, SpaceX has Starlink ground stations in Qatar, Jordan, United Arab Emirates, and Oman that could be potential targets of future Iranian attacks. However, the Starlink facilities may not be the only targets, as Iran reportedly said it "reserves the right to strike all Musk-affiliated facilities in the region," according to Forbes.
Iran's threats to attack SpaceX facilities came as the private space exploration firm made an initial public offering (IPO) on Thursday that the Wall Street Journal reported broke the record for the largest in history.
According to the Journal, SpaceX sold $75 billion worth of shares during the IPO at $135 apiece, giving the company a valuation of $1.77 trillion.
The SpaceX IPO has come under criticism in recent weeks over revelations that the Nasdaq stock market exchange changed its own rules so that company can be immediately included in index funds without having to wait through the one-year “seasoning” period that used to be required for newly public firms.
Other critics have raised red flags about SpaceX's profitability, noting that it made only $19 billion in profits last fiscal year, giving it a valuation 54 times larger than its projected revenue multiple, a measure of its value based on expected future earnings.
SpaceX shares are set to begin trading publicly on Friday.
Iran's chief negotiator accused the Trump administration of giving the Israeli government a "green light" to continue attacking Lebanon and undermining diplomatic talks.
Update:
US President Donald Trump, Pakistan's prime minister, and the Iranian Foreign Ministry said Sunday that the US and Iran have reached an agreement on a framework to end the war that Trump launched in late February.
Iran's deputy foreign minister, Kazem Gharibabadi, said the terms of the deal will be made public after the memorandum of understanding is signed on Friday in Switzerland. Pakistani Prime Minister Shehbaz Sharif wrote on social media that "both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon."
The memorandum of understanding is expected to extend the current ceasefire agreement by 60 days while detailed negotiations take place.
Gharibabadi said the start of the 60-day negotiations will be contingent on the US lifting its naval blockade of Iranian ports, "ending the state of war and military operations," and "releasing Iran's frozen funds."
Earlier:
The Israeli military bombed the southern suburbs of Beirut on Sunday just as Iranian and US officials voiced optimism that a diplomatic agreement is in reach, prompting accusations that the government of Prime Minister Benjamin Netanyahu is trying to derail the negotiations.
Israel's strikes reportedly targeted a five-story apartment building, killing at least three people, according to Lebanese authorities. Netanyahu said the bombing was a response to Hezbollah rocket fire into northern Israel.
The latest bombing of Beirut came hours after US President Donald Trump said he expected a memorandum of understanding (MOU) to be signed as early as Sunday, potentially setting the stage for negotiations to end the illegal war Trump started in late February. Iranian officials have pushed back on the US president's claim that the MOU will be signed Sunday, but Iran's foreign minister said Friday that an agreement had "never been closer."
The Associated Press reported Sunday that Israel's new strikes on Beirut "threatened to hamper negotiations over a deal, which in its current form is a deep disappointment to Israel’s government."
"The last time Israel struck the Beirut suburbs a week ago, it set off the most serious escalation of fighting between Iran and Israel since the tenuous ceasefire took hold April 7," AP added.
Kenneth Roth, former executive director of Human Rights Watch, wrote on social media that "as a US-Iranian deal seems like it might be closer, Israel predictably bombs the Beirut suburbs, evidently hoping to sabotage the deal."
"Why does Trump put up with this and continue to arm and fund such obstructionism?" Roth asked.
Mohammad Bagher Ghalibaf, Iran's chief negotiator and speaker of parliament, said Israel's strikes indicate that the US "either does not have the will or the ability to fulfill its obligations."
"You cannot gain concessions by giving [Israel] a green light," he added. "The good cop, bad cop routine has become old. If you do not have the will or the ability to fulfill your commitments, then there is no basis for talking about continuing down this path."
As the US & Iran reportedly near a deal that includes ending the war in Lebanon, Israel is attacking Beirut again.
Either Trump can't restrain Netanyahu, or the deal is already being violated before it's signed.
Either way, it undermines the deal's value for Iran. pic.twitter.com/v08c21i7wa
— Sina Toossi (@SinaToossi) June 14, 2026
While the MOU that's reportedly under consideration has not been released in full, its broad outlines have been reported in media outlets and divulged by Iranian and US officials in recent days. Reuters reported Sunday that "a final draft of the memorandum of understanding with the US covered a range of issues, from Tehran’s nuclear work to reopening the Strait of Hormuz and US waivers on oil sanctions, with a final deal to be discussed in the 60 days following agreement by the two sides."
Under the MOU, Iran would immediately reopen the Strait of Hormuz and the US would end its illegal blockade of Iranian ports, according to Reuters. The US would also agree to waive oil sanctions on Iran and release $25 billion in frozen Iranian assets, while Iran would agree to "maintain the current status of its nuclear program, refraining from further uranium enrichment and expansion of nuclear facilities."
Abbas Araghchi, Iran's foreign minister, said in a television interview on Friday that the MOU's proposed 60-day ceasefire extension would include Lebanon.
Axios reported that Netanyahu has "found himself in the dark" as US-Iran negotiations have progressed in recent days, "calling allies close to the Trump administration to try and gather information."
Following Sunday's strike on Beirut, Trump told Axios' Barak Ravid that Netanyahu "has no fucking judgment."
"I passed this message on to him—that I am very unhappy with the attack in Beirut," said Trump, whose administration has approved billions of dollars worth of weapons sales to the Israeli government.
Trita Parsi, executive vice president of the Quincy Institute for Responsible Statecraft, warned that "Israel will do more sabotage unless Trump imposes a cost on Israel."
"Netanyahu knows exactly what he is doing and is judging that an attack on Beirut—rather than southern Lebanon—is exactly what's needed to derail the pending US-Iran deal," Parsi argued.
Trump claimed on social media that a diplomatic agreement would be signed on Sunday, but Iran's Foreign Ministry pushed back on that timeline.
President Donald Trump claimed Saturday that the US and Iran are on track to sign a diplomatic agreement this weekend, but added that "we have the ultimate alternative" if the process doesn't "work out."
"The 'ultimate alternative' sounds a lot like a nuclear threat," Sina Toossi, a senior fellow at the Center for International Policy, wrote in response to the president's Truth Social post. "Not the first time Trump has hinted at it."
The agreement Trump referenced is believed to be "memorandum of understanding" that's expected be fleshed out in "technical talks" that could begin next week, according to Pakistani Prime Minister Shehbaz Sharif, who is mediating the negotiations.
"We are closer to a peace deal than ever before," Sharif wrote on social media, echoing Iranian Foreign Minister Abbas Araghchi, who said on Friday that "the Islamabad Memorandum of Understanding has never been closer."
"Pending its finalization, the media should refrain from entering speculation about its content," Araghchi added. "In line with our responsible and transparent approach, all details will be shared with the public in due course."
On Saturday, a spokesperson for the Iranian Foreign Ministry cast doubt on the timeline put forth by Trump and Sharif.
"We will have to wait and see about the exact date of the signing of the memorandum of understanding, although it will not be tomorrow,” said Esmaeil Baqaei, as reported by Iranian state media. “The possibility of this happening in the coming days cannot be ruled out. However, due to the hesitation of the other side, we must be cautious in making any comments about this process.”
In his Truth Social post on Saturday, Trump declared that the Strait of Hormuz will be "OPEN TO ALL" immediately after the deal is signed—a condition that Iran has not confirmed.
"We look forward to working with Iran, and the entire Middle East, long into the future," Trump added. "Hopefully, this process will all work out quickly, easily, and smoothly. If it doesn’t, we have the ultimate alternative, hopefully never to be used again!"
Trump has repeatedly issued genocidal threats against Iran since launching the illegal war in late February, openly declaring his intention to target Iran's civilian infrastructure and wipe out its "whole civilization." Experts say such threats, even if they aren't acted on, constitute war crimes under international law.
"The test will be a simple one: Are you sufficiently loyal to the president? If the answer is no, it will result in the denial of lifesaving disaster relief, funding for research into cures, the closure of Head Start offices, and more."
A Trump White House plan to give political appointees more power over federal grant money has sparked alarm among scientists, public health organizations, environmental groups, and others who fear that the proposal amounts to an attempt to subordinate critical funds to the whims of the president and his far-right allies.
More than 300 organizations signed a joint letter on Friday calling on White House budget director Russell Vought, the proposed rule's architect, to extend the public comment period that's set to end on July 13, warning that the "scope and impact of [the Office of Management and Budget's] rule is vast."
"The rule will impact the entirety of government grant-making across the United States," the groups warned. "OMB itself says the revisions suggested would relate to over $179 billion of funds to small entities."
Politico, which exclusively obtained the letter, noted that the "proposed rule has already garnered over 15,000 public comments, with many expressing alarm that the changes could undermine research across fields."
Under Vought's rule, federal agencies would be required to perform "pre-issuance reviews" of federal grants—funds appropriated by Congress—to ensure their distribution is consistent with "applicable law, federal agency priorities, and the national interest."
The rule lays out a number of standards that political appointees at federal agencies must screen for when deciding whether an organization can receive federal grant dollars. For instance, the rule would prohibit the distribution of federal grants to organizations that "promote anti-American values" or support "ideologies that deny the biological reality of sex or the sex binary in humans."
The New York Times reported that the consequences of Vought's rule "could fall hardest on health and science, a field in which [President Donald Trump] has pursued some of the steepest cuts in his second term."
"In exchange for federal assistance, researchers would face limits on the subjects that they can explore, the foreign labs with which they may collaborate and even the conferences at which they can appear," the Times noted. "Dr. Georges C. Benjamin, the chief executive of the American Public Health Association, a professional organization and advocacy group, said the policy could 'devastate innovation, science, and research' in the United States."
"This is an executive power grab that would hand presidential political appointees unchecked control over more than a trillion dollars that Congress appropriated in the interests of all Americans."
Earlier this month, Lawyers for Good Government and the Environmental Protection Network said that "if finalized, the rule would put senior political appointees in charge of approving and canceling individual grants, while stripping recipients of due process rights" while attaching "ideological conditions to nearly every federal dollar, raising First Amendment and equal-protection concerns."
The two organizations published a fact sheet warning that the proposed rule has the potential to halt billions of dollars in funding that communities across the US depend on for "health, public education, scientific research, public safety, and economic development projects."
“This is an executive power grab that would hand presidential political appointees unchecked control over more than a trillion dollars that Congress appropriated in the interests of all Americans,” said Jillian Blanchard, senior vice president for climate change and environmental justice at Lawyers for Good Government. “Conditioning funding for critical programs on ideology and viewpoint discrimination, while erasing basic due-process protections, violates freedoms of speech, equal protection, and eviscerates Congress’ power of the purse.”
Democratic lawmakers have also sounded the alarm about Vought's proposal. Rep. Rosa DeLauro (D-Conn.), the top Democrat on the House Appropriations Committee, said Thursday that she has given her Republican colleagues two opportunities to denounce Vought's rule—and they declined both times.
"Vought continues to attempt to steal from communities across the country. Now, he is trying to set a new political test on grants for a wide swath of the federal government," said DeLauro. "The test will be a simple one: Are you sufficiently loyal to the president? If the answer is no, it will result in the denial of lifesaving disaster relief, funding for research into cures, the closure of Head Start offices, and more. If you are not loyal enough, if you speak out against this administration, the president and his cronies will take away resources Congress provided."