Trump weighs U.S. involvement as Israel-Iran strikes intensify
President Donald Trump met with top security advisers Tuesday as the U.S. boosted its military presence in the Middle East amid escalating strikes between Israel and Iran.
Los Angeles businesses report significant losses as immigration raids prompt many workers and customers to stay home, raising concerns over broader economic effects.
At Los Angeles' central fresh produce market, normally busy with suppliers and small businesses, activity has slowed significantly following a series of immigration raids by U.S. Immigration and Customs Enforcement (ICE).
Juan Ibarra, who operates a fruit and vegetable outlet, reported that many of his regular customers — including street vendors and restaurant workers — have not returned since the enforcement actions began. “It’s almost COVID-like. People are scared. We can only last so long like this,” Ibarra said.
The decline in foot traffic has resulted in significant financial losses. Ibarra, who typically earns about $2,000 a day, now reports daily revenues of around $300. He has also been forced to dispose of unsold produce due to decreased demand.
Other business owners in Los Angeles and across California have experienced similar challenges. According to the American Immigration Council, approximately one-third of California’s workforce is made up of immigrants, while 40% of entrepreneurs in the state are foreign-born.
The Trump administration, in response to concerns about economic consequences, has recently instructed ICE to pause enforcement actions targeting farms, restaurants, and hotels. However, some business owners report that the damage has already been done.
Pedro Jimenez, who has run a Mexican restaurant in Los Angeles for 24 years, said weekly revenues have fallen by approximately $7,000. “This is really hurting everybody’s business,” he said.
Protests have also taken place in response to the enforcement actions. In reaction, National Guard troops and U.S. Marines have been deployed to Los Angeles. A White House spokesperson stated that protests were contributing to business disruptions, while local officials expressed concerns about the federal response.
Andrew Selee, president of the Migration Policy Institute, noted that the recent focus on workplace raids marks a shift from earlier policies that primarily targeted individuals with criminal records. “The more immigration enforcement is broad rather than targeted, the more it disrupts the American economy,” he said.
Some workers have chosen to stay home to avoid possible encounters with enforcement officials. Luis, a Guatemalan street vendor, said he has been limiting his activities. “I have to work to survive, but the rest of the time I stay inside,” he said.
Pakistan will begin its first freight train service to Russia from Lahore on June 22. The route is part of the INSTC and aims to connect Pakistan's rail network with Central Asia, establishing a new trade corridor via Iran, Turkmenistan, and Kazakhstan.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
Azerbaijan Airlines (AZAL) has cancelled certain flights scheduled for 13th and 14th June amid recent escalation of situation in the Middle East and the closure of airspace in several countries for security reasons.
The Israeli military has issued an evacuation advisory for Iranian civilians living near weapons production sites and associated infrastructure within Iran. The message was shared on the social media platform X in both Arabic and Farsi by an official military spokesperson.
Global oil demand will continue rising until around 2030, even as China’s consumption peaks in 2027, driven by low U.S. gasoline prices and slower EV adoption, the International Energy Agency (IEA) said on Tuesday.
Oil prices rose on Tuesday, with analysts saying that uncertainty would keep prices elevated, even as there were no concrete signs of any production losses stemming from the Iran-Israel conflict.
Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed.
Donald Trump's media company has filed for a Bitcoin and Ethereum exchange-traded fund (ETF), prompting fresh concerns over potential conflicts of interest as the U.S. President remains active in both politics and cryptocurrency ventures.
Dozens of public companies, including one founded by Donald Trump, are adding bitcoin to their balance sheets, betting big on crypto amid soaring prices and political backing from the U.S. President.
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