Strait of Hormuz traffic picks up + UK PM succession battle heats up

Good afternoon, friends, and happy hump day. The World Cup is delivering nightly — Messi broke the all-time scoring record last night, France survived a thunderstorm in Philadelphia, and there’s another full slate tonight. In between fixtures, we take a look at the zigzag career path — the case for moving sideways across industries, and occasionally downward, as a smarter long-term wager than climbing a ladder that’s quietly being dismantled. We also have a bakery in Heliopolis that might ruin your productivity for an afternoon, in the best possible way. All that and tonight’s World Cup preview below.

Without further ado, the news…

THE BIG STORY ABROAD-

🌐 Following a few particularly busy news cycles, with the US-Iran peace agreements taking center stage across the front pages, it seems there’s no singular story getting top billing this afternoon. Still getting plenty of ink, however, are the latest updates on the state of the Strait of Hormuz as traffic through the strategic shipping chokepoint slowly picks up but remains far below pre-war levels. The uptick comes after Iran and the US agreed to establish a hotline aimed at “preventing and resolving misunderstandings” as vessels pass through the strait — a small step toward keeping one of the world’s most important trade routes moving.

Also on the radar is another round of US-mediated talks set to begin today to curb fighting between Israel and Iran-backed Hezbollah in Lebanon — though Hezbollah has rejected the negotiations after being excluded from the discussions. Washington has also introduced a ceasefire “monitoring mechanism” as repeated violations threaten to derail broader efforts to stabilize the region and maintain talks with Tehran.

^^Read more on: CNN, Associated Press, and Reuters.

MEANWHILE- The fallout from UK Prime Minister Keir Starmer’s resignation announcement continues. Labour MPs are exploring alternative leadership options as they weigh their next move, with cabinet minister Darren Jones and former armed forces minister Al Carns emerging as potential contenders. The discussions come as some within the party push back against handing Andy Burnham the top job without a formal leadership contest. Jones, currently chief secretary to the prime minister and a close ally of outgoing Labour leader Keir Starmer, is seen as a possible option among MPs seeking continuity.

^^Read more on: The Guardian, Associated Press, and BBC.

AND- As the race for 10 Downing Street heats up, so too is the weather across Europe — especially in the UK and France. Europe is feeling the heat as the continent faces its second heat dome in just two months, with temperatures climbing above 40°C across parts of the world’s fastest-warming continent. The extreme weather has triggered a series of precautionary measures, with France restricting public alcohol consumption, Spain closing a World Cup fan zone, and the UK bracing for a potential record-breaking June temperature. Heat alerts were issued across 26 countries on Monday, stretching from Ireland to Greece.

^^Read more on: BBC, CNN, and The Guardian.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• The House gave its final nod to the FY 2026/27 budget and development plan, sending recommendations to the government for implementation after two weeks of plenary debate. MPs are requesting more realistic assumptions based on actual execution rates, alongside strict adherence to constitutional spending minimums;
• Fawry secured a Third-Party Administrator (TPA) licence through a new subsidiary, Treemed TPA, that will “operate as the backbone of Fawry Healthcare.” The fintech platform has been quietly building toward healthcare administration for several years by acquiring entities in medical services management and launching an ins. company;
• The government is moving to narrow the scope of its planned 14% VAT on leased administrative space, potentially keeping factories and buildings that provide direct services to citizens outside the tax net. The change could be written into the executive regulations to apply only to non-operational or non-service administrative premises.

☀️ TOMORROW’S WEATHER- This heat is sticking around as C-Town witnesses sunny skies and a high of 36°C tomorrow, with temperatures dropping to a more manageable 24°C low overnight. Meanwhile, the North Coast remains in beach-day territory with a comfortable 30°C high and a 22°C low, according to our favorite weather app.