The US ordered some staff to leave its embassy in Baghdad, and restricted government employees and family members in Israel from traveling outside major cities like Tel Aviv.

Around the same time, risk warnings from naval forces were issued to vessels operating in and around the Persian Gulf, the world’s largest oil-producing region. Market jitters intensified amid the heightened tensions, with oil and gold prices rising higher. 

CBS reported that the White House made the move partly in response to Israel stepping up plans to attack Iran. It also followed fresh threats by Iran to strike American assets in the region in the event it’s attacked over its nuclear program.

President Donald Trump has consistently said he wants a nuclear deal with Iran and to avoid a war, but that the US could resort to military action if Tehran doesn’t accept one. The next round of talks is Sunday. — Caroline Alexander

What You Need to Know Today

A Boeing 787 Dreamliner aircraft operated by Air India that was bound for London crashed shortly after taking off in Ahmedabad, in what stands to be the worst accident involving the US planemaker’s most advanced widebody airliner. Flight AI171 was carrying 242 passengers and crew, with reports of one survivor. 

The dollar fell to the weakest level in three years amid worries over US tariffs and the outlook for the US economy. The Bloomberg Dollar Spot Index slid as much as 0.8% to the lowest level since April 2022. The euro jumped to the strongest since 2021, while the British pound advanced to a new three-year high. All currencies in the Group of 10 gained against the greenback. 

Europe’s banks used to chafe at working with weapons manufacturers. Those business ties are now a badge of honor. Lenders including BNP Paribas, Commerzbank, Deutsche Bank and Societe Generale have been going out of their way to highlight their links to defense firms. Previously keen to stress their environmental track record, banks’ public messaging has shifted to their role in rearming Europe.

The Los Angeles Police Department moved to quell disorder stemming from anti-deportation rallies, charging crowds on horses and firing “less lethal” munitions to clear protesters. After the initial burst of activity, the downtown area — under a second night of curfew imposed by Mayor Karen Bass — was calmer. Tensions remain high, though, as the city is gripped by the divide between local and federal powers. 

Police officers stand around arrested protesters following a demonstration against federal immigration operations near Los Angeles City Hall on June 11. Photographer: Ronaldo Schemidt/AFP/Getty Images

Czech President Petr Pavel called for the country to adopt the euro as a way to help trade and avoid being left out of key decisions made by members of the currency union. With the economy deeply integrated with the euro area, the political and public opposition to the switch is “emotional and irrational,” he told us. He added that the benefits of keeping the koruna and an independent monetary policy were limited. 

Spanish Prime Minister Pedro Sanchez said he won’t call early elections following graft allegations involving one of his top aide, adding that there will be no vote until 2027, when the government’s mandate ends. Sanchez’s senior adviser Santos Cerdan had previously stepped down as member of the parliament as well as from his role of senior Socialist party official. He denied wrongdoing. 

The European Union’s ambition to scale up nuclear energy as part of its 2050 climate neutrality goal will cost €241 billion ($280 billion), posing funding challenges, according to a draft document. Europe’s nuclear ambitions could well rest on extending the lifetime of its aging fleet beyond 60 years.

What You’ll Need to Know Tomorrow

For Your Commute

From airlines to banks to retailers, the story is the same: Over the past few decades, more than 4,000 companies have made big climate pledges, but results are scant, and emissions continue to rise. Worse, we’re now seeing a retreat. In the past year companies around the world have been canceling their climate commitments, some only a few years old. But this corporate backpedaling might also be highlighting the inadequacy of voluntary action.

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