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Traders work on the floor of the New York Stock Exchange during afternoon trading on June 10, 2026 in New York City. Michael M. Santiago | Getty ImagesAs hostilities in the Middle East flare up again, investors are increasingly grappling with the possibility of a prolonged conflict and pricing in a “long grind.”The latest escalation comes after U.S. Central Command struck Iranian military targets, drawing retaliation from Tehran, which attacked Gulf countries on Thursday. U.S. futures were up, though markets in Asia were broadly lower. Oil, which was last up about 2% Thursday, has stayed below $100 a barrel as traders…

A win after false startsIn the early 2020s, mycelium-based alternatives to leather experienced something of a boom, attracting hundreds of millions in venture capital, boosted by glossy brand pilots and promises of commercial scale. Stella McCartney riffed on its signature Frayme bag with California material innovation startup Bolt Threads. Ganni followed, and even helped Bolt Threads launch the Greener Pastures Pledge, giving brands preferential access to its hero material — Mylo — if they vowed to phase out virgin leather. Then, in July 2021, former Hermès CEO Patrick Thomas joined the board of fellow Californian competitor Mycoworks, which released its…

OpenAI Ceo Sam Altman speaks to journalists after meeting with US House Minority Leader Hakeem Jeffries on Capitol Hill in Washington, DC, on June 3, 2026. Brendan Smialowski | AFP | Getty ImagesOpenAI is mulling sharp price cuts to its artificial intelligence offerings, as it looks to woo consumers away from rival Anthropic, the Wall Street Journal reported Wednesday evening stateside, citing sources familiar with the matter.”The company is weighing significant cuts to what it charges for tokens, the unit of measurement artificial-intelligence firms use to bill for their products,” the report said, adding that it was “in anticipation of…

There’s an unexpected gentleness and feeling of letting-go-ness to Prabal Gurung’s resort collection, which he says is directly related to his inspiration. “I’m calling the collection ‘The First Light,’” the designer said. “I’m a super-early riser and …I’ve always found the solitude and melancholy in the early morning to be quite beautiful.”This season, Gurung, who had been looking at the atmospheric work of the photographer Saul Leiter, imagined a woman getting dressed. He aimed to capture that fleeting moment of introspection and seclusion when no eyes are on her. Rather than disturb this peaceful pause, Gurung figured out a way…

Hello, this is Priyanka Salve, writing to you from Singapore.Welcome to the latest edition of  “Inside India” — your one-stop destination for stories and developments from the world’s fastest-growing large economy.India is home to the world’s most prolific filmmaking industry. This week, industry executives told me that generative AI adoption is accelerating as producers seek to meet rising content demand in the country’s $32 billion media and entertainment sector while navigating tighter budgets.Read on!Any thoughts on today’s newsletter? Share them with the team.The big storyWhile Hollywood continues to work out how best to use AI and debates its effect on jobs, filmmakers in…

In my life as a novelist, I’ve been influenced by familiar names: Proust and Knausgaard, Fitzgerald and DeLillo. But for the last four years, my literary hero has been a more unlikely artist: Jalen Brunson.Brunson, who has carried the New York Knicks within two wins of their first NBA championship since 1973, may be the most improbable sports superstar alive today. He stands at just over six feet. His arms aren’t riddled with the muscle of his teammates. He was a high school star who was told he was too small to succeed in college, a college star who was…

SpaceX will debut under the ticker ‘SPCX’ this Friday, and its options will begin trading on Tuesday, June 16th. It’s a quick turnaround that leaves investors a little bit in the lurch. They’ll have little time and a small sample size of activity to judge how the world’s largest IPO will trade day-to-day over the long term, which one trader says will present the biggest hedging challenge in nearly three decades. “As an options trader, we used to do a lot of this sort of hedging around IPOs back in 2000. Back then, however, there was an entire basket of technology stocks…

Just as longevity becomes the skin-care buzzword du jour, consumers are seeking out hair-care products—including the best scalp serums—that promise not just a good hair day, but healthier hair overall. “Most of us spend the majority of our time on a routine that just conditions the hair shaft and styles the hair, but little time caring for the scalp, where hair is actually produced,” says Mangala Rao-D’sa, an Ayurvedic practitioner and the founder of scalp- and skin-care brand Chasma. “A scalp serum is valuable to everyone, because it can help support the scalp barrier by improving scalp hydration, reducing dryness…

Oracle reported better-than-expected earnings and revenue for the fiscal fourth quarter on Wednesday while also raising its profit forecast for the year. The stock dropped 7% in extended trading as the company plans to raise more money to finance its AI buildout. Here’s how the company did in comparison with LSEG consensus:Earnings per share: $2.03 adjusted vs. $1.96 expected Revenue: $19.18 billion vs. $19.10 billion expectedRevenue increased 21% year over year in the quarter, which ended on May 31, according to a statement. Net income rose to $4.22 billion, or $1.45 per share, from $3.43 billion, or $1.19 per share,…

Prabal Gurung had a pretty spectacular Met Gala. Among the nine designs he created for the event was a dress for Hollywood royalty—Angela Bassett—and another for a crowned head, Princess Gauravi Kumari. None of the designer’s First Monday in May looks relied heavily on ornamentation, and neither do those in his latest Atelier collection. And not all are snatched—only about a third of the options are corseted, and only two have princess volumes. “I always say my job as a designer, especially when it comes to evening, is to offer options—options that fit in my world—so she can choose. Not…