Good morning. Pride organizations are adjusting to operating without some longtime sponsors after again struggling to secure big brands’ support for their annual events celebrating LGBTQ rights.

• Cutting back:  Major names like Marriott, L’Oréal and Red Bull continue to serve as top-level backers, and some Pride organizers say they are still in negotiations with potential sponsors ahead of June programming. But other marketers have reduced their commitments or opted out entirely. And most brands that withdrew funding in 2025 haven’t come back at the same level, if at all.
   
• A high point: “We’re not going to return to 2019, where we had much bigger levels of sponsorship prepandemic,” said Patti Hearn, executive director of Seattle Pride. Starbucks’ Pride Network employee group this year curtailed its investment, for example, though its float will still appear in the parade. Accenture isn’t returning after years of support. Sponsors “are just a little bit reluctant,” Hearn said.
   
• Fear of Trump: Departing sponsors have provided a range of reasons, including economic instability and the Trump administration’s moves against diversity, equity and inclusion programs, said Ryan Bos, executive director of Capital Pride Alliance in Washington, D.C., whose organization saw defense contractor Booz Allen Hamilton and others pull out when it hosted the traveling WorldPride festival last year. “There were those that said, ‘We don’t know what we can do because of federal contracts or DEI,’” he said.
   
• Trans rights: The government might frown on contractors’ support for Pride groups that promote positions at odds with its own on subjects like transgender rights, according to Jonathan Butcher, acting director of the center for education policy at the Heritage Foundation, a conservative think tank.

Trump signs AI executive order to increase government oversight. 

President Trump signed an executive order Tuesday asking artificial-intelligence companies to give the administration access to powerful models 30 days before public release, just two weeks after shelving a previous version.

The order, which aims to increase the federal government’s oversight of the technology, also asks national-security and cyber officials to work with agency heads and top tech companies to address software vulnerabilities identified by models like Anthropic’s Mythos, the White House said.

The executive order is a slimmed-down version of the one Trump shelved on May 21. That version included the cybersecurity component but would have asked companies to let the government review models for a longer period, up to 90 days.

• Andrew Left earned fame and fortune by researching companies, accusing them of fraud and betting their stock price would fall. On Monday, a federal jury convicted him of securities fraud, siding with prosecutors who accused him of using his media savvy and reputation as a stock savant to manipulate shares in a way that would reward his trades.
   
• New York’s attorney general is leading a lawsuit against the Trump administration to challenge its deal that put an end to a French energy company’s offshore wind projects.
   
• A federal court effectively invalidated most of an Illinois law prohibiting credit- and debit-card issuers from charging fees on taxes and tips attached to transactions, Risk Journal reports. (free link) 
   
• Risk Journal reports: Goldman Sachs Chief Executive David Solomon praised relatively light regulation the bank faces under the Trump administration, comparing it with intense “intrusion” under President Biden that required the hiring of thousands of staff. (free link)
   
• U.K. antitrust regulators said they would allow publishers to opt out of feeding their content to power artificial-intelligence features in Google’s online searches.

Army ‘jailbreaks’ its own weapon systems to counter drone threats.

Inside a small tent at the foot of the Rocky Mountains, Army air defense officers laid out the stark reality facing soldiers some 7,500 miles away in the Middle East: The different radars that alert troops to incoming drones and missiles, and the interceptors used to shoot them down, don’t talk to one another.

But in recent weeks, Army officials say they have found a solution by convincing defense contractors to share data with one another, something companies have long resisted amid fears of losing intellectual property to competitors. The removal of software restrictions on the service’s weapons and radar systems—a technique known as “jailbreaking”—required the service to waive more than 700 pages of regulatory requirements.

Trump and Netanyahu are clashing over how to end the Iran war.

President Trump and Israeli Prime Minister Benjamin Netanyahu launched the war against Iran with an unprecedented level of coordination. Now three months later, they are fighting over how to bring the conflict to a close.

Trump wants a diplomatic agreement that would reopen the Strait of Hormuz, dispose of Iran’s enriched uranium and end a conflict that has driven up energy prices and divided his political base. Netanyahu faces pressure at home to intensify military operations against Hezbollah, Iran’s most important regional proxy and a U.S.-designated terrorist group.
 

See also: 

• America’s Truckers Are Driving Just a Little Slower to Save Gas
• The Iran War Is Jacking Up Fertilizer Prices and Forcing Farmers to Make Tough Calls
• Oil Prices Rise Amid Continuing Middle East Tensions
• See How the Middle East’s Ceasefires Remain Plagued by Violence
• OECD Warns of Severe Global Slowdown If Middle East Conflict Is Prolonged

• The U.S. is proposing new tariffs of at least 10% on many of its trading partners over an alleged failure to address forced labor concerns, the Trump administration’s latest move to replace levies that were struck down by the Supreme Court earlier this year.
   
• There is hope for escaping China’s grip on rare earths. That is the message from some companies that toil far from the public eye looking for ways to use fewer of the key minerals dominated by Beijing.
   
• Private-credit firms have had investors and regulators on edge. Now, their insurers are worried, too.
   
• Federal Reserve Chairman Kevin Warsh has tapped two outside associates to advise him while he settles into the job, one of whom previously helped write a conservative blueprint that recommended a radical restructuring of the central bank.
   
• The Bank of Japan could look past Middle East uncertainty and raise interest rates if inflation becomes a bigger threat to the economy than the risk of slowing growth, Gov. Kazuo Ueda said.
   
• Palo Alto Networks reported higher revenue in the third quarter and lifted its outlook as customers continued to beef up their cybersecurity in the face of heightened threats from artificial-intelligence models.
   
• Risk Journal reports: The French Navy boarded a sanctioned Russian oil tanker in the Atlantic Ocean, in what President Emmanuel Macron described as the latest demonstration of France’s “steadfast and unwavering” determination to enforce international sanctions against Russia’s shadow fleet.

• President Trump said Tuesday he was appointing Bill Pulte, a close ally who leads the Federal Housing Finance Agency and who urged investigations into the president’s perceived enemies, as acting director of national intelligence.
   
• Defense Secretary Pete Hegseth has blocked the appointment of nine Air Force colonels and delayed the promotion of at least two dozen more senior officers, according to current and former U.S. officials, in the latest instance of the Pentagon chief’s unusual scrutiny of the military’s senior ranks.
   
• The Trump administration is abandoning its $1.8 billion “anti-weaponization” fund after it drew broad condemnation from Republican lawmakers and threatened to sink an unrelated immigration-enforcement bill.
   
• The White House Correspondents’ Association has rescheduled its annual dinner for July 24, nearly three months after a gunman’s attempted ambush ended the ritzy event that was attended by President Trump.
   
• Jill Biden knows people are mad about her new book.

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