US House of Representatives approves $95 billion legislative budget package
The US House of Representatives has passed a $95 billion budget plan, marking a significant legislative milestone for federal spending. The specific allocation details and the path to Senate approval remain to be clarified, which will determine the immediate impact on fiscal policy.
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Iran-US Escalation: Strait of Hormuz Closure, Regional Attacks, and UK Threats
Direct military exchanges between the US and Iran have led to the confirmed closure of the Strait of Hormuz, triggering a global oil price surge and increased Brazilian DI rates. Concurrently, Kuwait has reported confirmed engagements with Iranian aerial projectiles and drone incursions, while an Iranian military group has designated UK-based facilities as legitimate targets, prompting a UK reaffirmation of defense posture. The UN Secretary-General has warned of rapidly escalating hostilities within Iran, emphasizing the urgent need for diplomatic intervention.