Friday, July 3, 2026
The world added nearly a million new millionaires in 2025 (Quartz) Global personal wealth grew by 10.8% in 2025, with nearly one million new U.S. dollar millionaires created over the course of the year, according to the UBS Global Wealth Report 2026. UBS built its findings from data spanning 56 markets that together account for an estimated 92% or more of all global wealth. More than 440,000 of those new millionaires were Americanâa pace exceeding 1,200 per dayâmaking the U.S. responsible for close to half of the worldwide increase. The United Kingdom added more than 43,000 new millionaires, while France, Spain, Japan, and India each added more than 30,000. The worldâs total millionaire population now stands at roughly 57.5 million. The report also counted 3,302 U.S. dollar billionaires, an increase of 383 people, or about 13.1%, over the prior year. UBS reported that median wealthâa figure more representative of typical adults than the meanâdropped across the majority of countries it tracked, even as averages climbed, a pattern the bank described as evidence of widening inequality.
The US, Canada and Mexico begin bumpy negotiations to renew North American trade pact (AP) Tourists from Chattanooga check into beach resorts in Cancun. Canadian auto parts feed factories in the American Midwestâand vice versa. Happy hour revelers raise glasses of Mexican tequila and mezcal at bars in Seattle. It adds up. The United States trades $1.9 trillion a yearâ$5 billion a dayâworth of goods and services with its neighbors, Canada and Mexico. They have supplanted China to become Americaâs top two trading partners. So the stakes are high when it comes to fiddling with the rules that govern trade between the three countries. And after a year of President Donald Trumpâs chaotic tariff policies, many U.S., Canadian and Mexican businesses would welcome the return of stability across North America. They are not likely to get it. The regional trade pactâthe U.S.-Mexico-Canada Agreement or USMCAâthat Trump negotiated and boasted about came up for renewal Wednesday, starting a process that is likely to last months, maybe longer. Trump, characteristically, has added to the tension by threatening to pull out of his own agreement altogether.
ICEâs arrest of nun heading to church fuels bipartisan backlash in South Texas (Washington Post) Sister Leticia âLettyâ Ugboaja was walking to Sunday Mass in McAllen, Texas, when federal immigration officers stopped her, confiscated her rosary and put her in handcuffs. The Catholic nun from Nigeria was released hours later after Democratic and Republican lawmakers intervened. Diocesan officials said she is a nurse who entered the country legally and was a certified nursing assistant at health center in Edinburg, Texas, for 10 years. Ugboajaâs arrest was the latest to trigger anger from both sides of the political aisle in South Texas. Rep. Monica De La Cruz (R) wrote on Facebook: âAs I have repeatedly said, our immigration enforcement should target violent criminals. A Catholic nun on her way to church is not a threat to our community.â Bishop Daniel E. Flores condemned the arrest. âSister Letty is a well-known source of goodness and hope in our community, and I am grateful she has been released. It is clear that Homeland Security enforcement protocols that make it possible for a religious sister, or anyone, to be detained and handcuffed while peacefully walking to Church on a Sunday morning are wildly disturbing and need to be reformed.â
After quakes trap Venezuelans, the government impedes rescuers and aid (Washington Post) On the earthquake-cracked streets of La Guaira, near a bridge in partial collapse, two bald men argued. One was a search-and-rescue worker from Fairfax, Virginia, sent by the U.S. government to try to reach people buried beneath the rubble left by the back-to-back temblors last week that killed more than 1,700 people. The other was Venezuelan Interior Minister Diosdado Cabello. The commander of much of Venezuelaâs security apparatus, both official and unofficial, heâs been indicted by the United States on charges of narco-terrorism and remains under U.S. sanctions. In a video of the weekend encounter, Cabello appears to be blocking traffic. The American points behind him. âThereâs somebody right over there that weâre trying to help,â he says, in English. âYou donât want us to help the person right over there?â Cabello, in Spanish, tells him to âpushâ his vehicle out of the way. The interaction laid bare one of the greatest challenges complicating the international race to save survivors trapped in the rubble: the Venezuelan government. A regime that has held onto power not through competence and electoral support but repression, censorship and fear is failing to facilitate rescue efforts that could save more lives, said survivors, first responders and former U.S. officials in interviews and on social media. An emergency medical team organized by ISAR Germany complained online that it had been âdenied entry clearance despite Venezuelaâs previously reported need.â Spanish rescuers said they were also thwarted: âWeâre extremely saddened to not have been able to help.â The Chilean rescue group Topos Chile said Venezuelan authorities repeatedly interrupted their work to solicit documentation on suspicion that they were spies. Others have complained of arduous bureaucratic hurdles, blocked roads, checkpoints, demands for payments that appeared to be bribes and restrictions on journalistsâall while thousands of Venezuelans remain missing.
Venezuelan medics fear earthquake aftermath will trigger widening medical crisis (AP) Doctors said Wednesday they feared the aftermath of Venezuelaâs devastating twin earthquakes could trigger a widening medical crisis marked by untreated injuries, infectious diseases and a healthcare system already on the brink. Thousands of displaced Venezuelans are sleeping in crowded shelters or outside without access to clean water amid dismal sanitary conditions following the June 24 earthquakes which officials say killed at least 2,295 and left more than 11,000 injured. Aid workers said the aftermath of the quakes has become a major medical crisis that, unless quickly controlled, would take more lives in the days and weeks ahead. The emergency has laid bare Venezuelaâs chronic shortage of doctors, the result of years of economic crisis, underfunding and emigration.
Ireland Is Becoming a French Military Protectorate (Foreign Policy) Ireland has long been a free rider in security and defense. Officially neutral and spending an infinitesimal 0.22 percent of GDP on its military in 2025, the country is literally defenseless. With only four naval vessels available on a rotational basis, patrol ships that lack technicians to operate weapons, and zero fighter jets, Ireland is incapable of protecting itself, its waters, and the undersea infrastructure that surrounds the island and on which trans-Atlantic communications depend. Since it has little hope of handling security on its own, Dublin recently announced that it was seeking to engage the French Navy to provide temporary air defense during important European Council meetings. In January, Dublin and Paris signed a joint strategic framework that will run until 2030. In February, there followed a military cooperation agreement covering joint training, intelligence sharing, and other areas. Most significantly, Ireland has outsourced its military procurement, including legal, administrative, and logistical control, almost entirely to France. Franceâs Direction GĂŠnĂŠrale de lâArmement (DGA), whose official stated purpose is to equip the French military and promote French arms exports, is now managing Irelandâs rearmament.
Facing barbs and pressure from Trump, Europeâs leaders close ranks (AP) U.S. President Donald Trumpâs attacks on Italyâs premier have had an unintended consequence. After Trump questioned Italyâs reliability as a wartime ally and claimed Giorgia Meloni had groveled for his attention, European leaders rallied to Meloniâs side, thawing what had been a frosty relationship over her hard-right political roots. It is the latest example of how the often divisive American president is helping to draw Europe closer together. European leaders are finding more reasons to coordinate on defense, tariffs and foreign policy as they confront wars in Ukraine and Iran, a ballooning trade deficit with China, and threats from Russia. That leaves Trump, who has often preferred to negotiate with European countries individually, with less ability to do so, analysts say.
A Dispute Over Opening Hormuz Drives a Wedge Into U.S.-Saudi Relations (WSJ) More than 100 U.S. military aircraft were taking off from bases and warships across the Middle East as part of an effort to crack open the Strait of Hormuz this past spring when they hit a glitch: Saudi Arabia, whose bases and airspace were critical to the mission, was saying no. The pushback forced the U.S. to abort Project Freedom, according to U.S. officials familiar with the matter, ending the military operation to guarantee safe passage for ships that President Trump had launched hours earlier. Incensed, the White House threatened to hold back delivery of interceptors that Saudi Arabia needs to shoot down Iranian missiles and drones, if the kingdom didnât reverse course, U.S. and Arab officials familiar with the discussions said. Saudi Arabia ultimately backed down, but U.S. officials said at the time that the damage wouldnât easily be undone. Now, the U.S. is considering reducing its military footprint in the kingdom, according to U.S. officials familiar with the planning process. Saudi officials told the White House that any attempt to topple the Iranian regime would close the Strait of Hormuz, rattle oil markets, and hurt the U.S. economy, as well as damage their and the regionâs stability, the Arab officials said. The kingdom and other Gulf states said publicly they wouldnât allow their bases or airspace to be used to attack Iran. The U.S. started the war alongside Israel anyway, exacerbating Saudi concerns that its investment in the relationship wasnât paying off in actual influence, according to the Arab officials. Iran responded by launching missile and drone attacks against Gulf population centers, energy infrastructure and airports in an effort to raise the economic and political costs of the conflict.
Palestinians face uncertain future as Gaza marks 1,000 days of war (AP) Itâs the 1,000th day of war since a Hamas-led attack on Israel that sparked the war in Gaza. Other conflicts have emerged in the region, and fragile ceasefires show scars of persistent attacks. Both Israelis and Palestinians are weary of the strain. The fate of over 2 million Palestinians in Gaza, largely displaced and living amid ruins, remains uncertain. Israeli forces controlled over half of the territory under the ceasefire that took effect on Oct. 10, but Israelâs government has expanded that and says it aims to hold 70%. Few people can get in or out. Further ceasefire steps, including Hamasâ disarmament and the immense task of reconstruction, have stalled. âMuch more needs to be done so that even a semblance of normality can come back, and we are far, far away from this,â the International Committee of the Red Cross regional director, Nicolas von Arx, said this week.
A Top-Shelf Proposal (BBC) I think weâve quite literally reached the peak of marriage proposals. Yesterday (Wednesday), a pair of climbers scaled the needle of the Empire State Building, where they unfurled a flag reading, âWhen the power of love beats the love of power the world knows peaceâ before one of them seemed to propose to the other. The woman appeared to accept the proposal and the couple kissed before eventually climbing down to the buildingâs 103rd floor, where they were greeted by police and promptly arrested. They face charges including burglary, reckless endangerment, criminal mischief, trespassing, and disorderly conduct. A spokesman for the Empire State Building noted that nobody was put at risk by the âunauthorized incident,â and noted that âthe Empire State Building Observation Deck does offer a practical way for the most memorable marriage proposals.â













