Hanna Ziady

London (CNN) — Volkswagen took a sizeable knock to its profits during the second quarter as it considers cutting tens of thousands of jobs – part of its attempt to better compete against its Chinese rivals.

Efforts to resolve the US-Iran conflict are “in very progressive stages,” Qatar’s Foreign Ministry said. Follow for live news updates.

Live Updates Here's the latest • NATO-style pact: Saudi Arabia, Turkey and Pakistan signed a mutual defense pact that stipulates an

Oil prices remain elevated after Iran said an imminent agreement with Oman to manage the Strait of Hormuz would not be enough to reopen the vital waterway, unless the US meets a list of conditions. Follow for live updates.

Live Updates Here's what we're covering • Strait of Hormuz: Efforts to reopen the Strait of Hormuz are becoming more urgent as the

London — Nuclear power plants idled. Crops harvested at 3 a.m. Iconic tourist attractions shuttered early.

Soaring temperatures are forcing drastic measures in Europe, where successive heatwaves are straining an economy already under pressure from US tariffs, Chinese competition and higher energy prices because of the Iran war.

Meanwhile, ships in the region face ongoing challenges as Trump and Iran remain at odds over control of the Strait of Hormuz. Follow for news updates.

Iran and the United States are doubling down on competing claims of control over the Strait of Hormuz, but the reality is more nuanced than either side is willing to admit.

Live Updates Also, USS Abraham Lincoln begins its journey home, according to a source, as USS George Washington arrives in the Middle East to relieve the troubled carrier.