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UniCredit withdrew its offer blaming the "golden power" restrictions exercised by the Italian government.
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Recent global conflicts mean that spending on national security may go up, predicts CEO Horacio Rozanski.
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Also: Trump wants to name a new Fed chair early.
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Also: Israel-Iran conflict enters fourth day, Trump orders more mass deportations.
The big story: Trade talks with China.
Also: Trump urges confrontation with LA protestors.
Also: Trump brings back travel ban, big investors turn away from the U.S., and job growth slows.
Also: OECD cuts growth forecast, Meta plans to replace workers with AI, and Chime sets IPO price.
Also: China accuses U.S. of violating trade truce, law firms punished for appeasing Trump, and IBM’s new path ahead.