The Wall Street Journal's Latest: Iran tensions, factory output surprises, and the ultra-wealthy's new thriftiness

The Wall Street Journal's latest coverage spans geopolitical friction and economic crosscurrents reshaping markets and policy. On the international front, divisions between Iranian moderates and the Revolutionary Guard complicate U.S. diplomatic efforts, while the IRGC navy has threatened to destroy vessels crossing the Strait of Hormuz—marking an expansion of U.S. naval operations beyond the Middle East as economic pressures mount on both sides. Domestically, a counterintuitive factory surge is underway: actual factory output is climbing sharply and accelerating despite steady job losses in manufacturing, driven by the most fundamental economic force—demand.

The Journal's business coverage reveals power shifts at major institutions. Berkshire Hathaway's new CEO is now scrutinizing businesses and investments built during Warren Buffett's decades-long tenure, signaling a potential shift in strategy. Meanwhile, cultural and lifestyle trends show wealth taking surprising forms: high earners are embracing thriftiness across most spending categories, except when it comes to experiences and luxury they genuinely want. Belle Burden's blockbuster memoir "Strangers" has sparked a broader personal-finance reckoning in affluent circles, now in its ninth printing.

Workers and communities are fighting for revival stories: La Perla's employees successfully lobbied to reopen the luxury undergarment brand's shuttered factory, and they'll now be central to its comeback. On the darker side, a Texas summer camp faces investigation and community division following floods that killed 27 girls, with heated debate over whether to reopen May 30. The Journal also covers geopolitical alignments—a Democratic congresswoman faces GOP-backed investigations while correcting previous wealth disclosures, and the U.S. refused to facilitate French authorities' investigation of Elon Musk's X platform after a Paris raid. Finally, a battle is brewing over World Cup soccer ticket pricing, with NJ Transit's $150 Manhattan-to-MetLife Stadium fare triggering a state-versus-FIFA showdown.