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The big question following U.S. and Israeli attacks on Iran’s nuclear program is: What remains of it? U.S. President Donald Trump has said three targets hit by American strikes were “obliterated.” His defense secretary said they were “destroyed.”A preliminary report issued by the U.S. Defense Intelligence Agency, meanwhile, said the strikes did significant damage to the Fordo, Natanz and Isfahan sites, but did not totally destroy the facilities.The head of the International Atomic Energy Agency said that as a result of Israeli and U.S. strikes, the agency has “seen extensive damage at several nuclear sites in Iran,” including those three. Israel claims it has set back Iran’s nuclear program by “many years.”Officials and experts are still assessing the damage, and their evaluation could change.Two of the major questions they are trying to address are where Iran’s stockpile of enriched uranium is and what is the state of the centrifuges that enrich the fuel.The answer to the first is not clear, but the IAEA believes significant damage was done to centrifuges at the two enrichment facilities in Natanz and Fordo.The IAEAand the worldwant to know the state of both the uranium and centrifuges because if Iran chooses to make a nuclear weapon, then making the fuel required would be just a short, technical step away.Iran has always maintained that its nuclear program is peaceful.But it has enriched significant quantities of uranium beyond the levels required for any civilian use, and Israel launched strikes on nuclear and military targets on June 13, accusing Iran of trying to develop atomic weapons.The U.S. joined that attack on Sunday, dropping 14 bunker-buster bombs on two sites. Iran retaliated with strikes on Israeli and American targets. Israel and Iran have since agreed to a ceasefire.Here’s what we knowand don’t knowabout the state of Iran’s nuclear program. It’s possible the nuclear fuel was moved At least some of Iran’s highly enriched uranium may have been moved before the U.S. strikes, the assessment from the DIA suggests, according to two people familiar with the evaluation. The people were not authorized to address the matter publicly and spoke on condition of anonymity.That would mean that some of the stockpile may have survived.The assessment was preliminary and will be refined as new information becomes available, the agency has said. Its authors also characterized it as “low confidence,” an acknowledgement that the conclusions could be mistaken.The White House has called the assessment “flat-out wrong,” pointing to the power of the bombs to back up the president’s characterization that the sites hit had been destroyed.Iran has previously threatened to hide its enriched uranium if attacked, and reiterated its pledge the day Israel launched its military campaign. Enriched uranium is stored in canisters that can be moved around fairly easy.In May, the IAEA, which is the U.N. nuclear watchdog, said Iran had amassed 408.6 kilograms (900.8 pounds) of uranium enriched up to 60%. If it is further enriched to 90%, it would be enough to make nine nuclear weapons, according to the U.N.’s yardstick, though a weapon would require other expertise, such as a detonation device.Before the war, experts believe the stockpile was mainly stored in two places: underground tunnels at a facility in Isfahan, and in a heavily fortified underground enrichment site in Fordo.U.S. Defense Secretary Pete Hegseth told reporters Thursday that he was “not aware of any intelligence that I’ve reviewed that says things were not where they were supposed to bemoved or otherwise.” Trucks seen at nuclear facility prompt speculation Satellite imagery showed trucks and bulldozers at the Fordo site beginning June 19, three days before the U.S. struck.Eric Brewer, a former U.S. intelligence analyst and now deputy vice president at the Nuclear Threat Initiative, said it’s “plausible” that Iran used the trucks to take nuclear fuel away.But Jacob Kirkegaard, senior fellow at the Breugel think tank in Brussels, disagreed: “I think that that was a decoy more than anything else.”Subsequent satellite imagery “revealed that the tunnel entrances into the underground complex had been sealed off with dirt prior to the U.S. airstrikes,” said Stephen Wood, senior director at American satellite imagery and analysis firm Maxar Technologies. “We believe that some of the trucks seen on 19 June were carrying dirt to be used as part of that operation.”Trump offered a similar explanation.In a post on his Truth Social network on Thursday, he wrote: “The cars and small trucks at the site were those of concrete workers trying to cover up the top of the shafts. Nothing was taken out of facility. Would take too long, too dangerous, and very heavy and hard to move!”Gen. Dan Caine, chairman of the Joint Chiefs of Staff, told reporters that the bombs were dropped onto the two main ventilation shafts of Fordo.He said Iran attempted to cover the shafts with concrete before the U.S. attack, but the cap was “forcibly removed by the main weapon.” Centrifuges are highly sensitive and vulnerable to damage Inspectors from the IAEA have remained in Iran throughout the war, but they are currently unable to inspect any nuclear sites due to safety concerns.But with the “explosive payload utilized, and the extreme vibration-sensitive nature of centrifuges,” the agency believes “very significant damage is expected to have occurred” as a result of U.S. airstrikes at Fordo, according to a statement from IAEA Director General Rafael Mariano Grossi to the agency’s board earlier this week.The centrifuges there are “no longer operational,” Grossi told Radio France Internationale on Thursday.Centrifuges are used to enrich uraniumand could eventually bring it up to weapons-grade levels, if Iran chooses to do so.Natanz, Iran’s biggest enrichment site, also houses centrifuges.In its underground plant, the IAEA believes most if not all of the centrifuge cascadesgroups of centrifuges working together to more quickly enrich uraniumwere destroyed by an Israeli strike that cut off power to the site.Its aboveground plant has also been “functionally destroyed,” the agency said.Strikes also caused “extensive damage” at Isfahan, according to the IAEA, especially at the uranium conversion facility and the plant for making uranium metal that’s vital to producing a nuclear bomb. What the damage means for Iran’s program is disputed Much like Trump, Israeli Prime Minister Benjamin Netanyahu has said Iran’s nuclear program has been brought “to ruin.”The Israel Atomic Energy Commission believes the recent strikes have set back Tehran’s ability to develop an atomic weapon by years. Israel officials have not said how they reached this assessment.The DIA assessment, however, suggested that Iran’s nuclear program has been set back only a few months, according to the people familiar with it.U.S. Secretary of State Marco Rubio, speaking in an interview with Politico, limited his own evaluation to saying Iran was “much further away from a nuclear weapon today than they were before the president took this bold action.”Iranian Supreme Leader Ayatollah Ali Khamenei has said that Trump “exaggerated” the impact of the American strikes. Associated Press writers Sam McNeil in Brussels, Michelle L. Price and Mary Clare Jalonick in Washington, and John Leicester in Paris contributed to this report._ The Associated Press receives support for nuclear security coverage from the Carnegie Corporation of New York and Outrider Foundation. The AP is solely responsible for all content. _ Additional AP coverage of the nuclear landscape: https://apnews.com/projects/the-new-nuclear-landscape/ Stephanie Liechtenstein, Associated Press
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E-Commerce
Apple has revamped its app store policies in the European Union with hopes of fending off escalating fines under the 27-nation bloc’s digital competition regulations.It’s a last-minute bid by the iPhone maker to avoid further charges following a 500 million euro ($585 million) penalty in April. The bloc’s executive Commission punished Apple for preventing app makers from pointing users to cheaper options outside its App Store, and gave it a 60-day deadline, which expired Thursday, to avoid additional, periodic fines.The changes made by Apple will make it easier for app makers to point users to better deals on digital products and options to pay for them outside of Apple’s own App Store, including other websites, apps or alternative app stores.The California company is also rolling out a two-tier system of fees to accommodate app developers that want to use alternative payments.“The European Commission is requiring Apple to make a series of additional changes to the App Store,” Apple said in a statement. “We disagree with this outcome and plan to appeal.”The commission noted Apple’s announcement and “will now assess these new business terms for DMA compliance,” referring to the EU’s Digital Markets Act. The rulebook was designed to rein in the power of big tech companies under threat of hefty fines worth up to 10% of a company’s global annual revenue.Among the DMA’s provisions are requirements that developers inform customers of cheaper purchasing options, and direct them to those offers.Apple’s restrictions preventing developers from steering users to outside payment channels had been fiercely opposed by some companies. It’s the reason, for example, Spotify removed the in-app payment option to avoid having to pay a commission of up to 30% on digital subscriptions bought through iOS. Associated Press
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E-Commerce
Shares in Nike, Inc. (NYSE: NKE) are trading much higher this morning after the company announced its Q4 2025 results. Yet those results saw Nike post some of its worst earnings in a while, along with a warning that President Trumps tariffs would cost the company $1 billion in the near term. Heres what you need to know about Nikes latest earnings and why the stock is up. Nike reports a revenue decline Yesterday, the iconic shoemaker announced its Q4 2025 and full-year fiscal 2025 earnings. The results werent great. For fiscal 2025, Nike reported full-year revenues of $46.3 billiona 10% decline from fiscal 2024. The companys Q4 2025 revenues totaled $11.1 billiondown 12% from the same quarter a year earlier. The company also posted an earnings per share of 14 cents for its Q4. That EPS was down significantly from the 99 cents the company posted in the same quarter a year earlier. However, perhaps most alarming was the fact that Nike confirmed it would take a $1 billion hit in its current 2026 fiscal year due to the tariffs imposed by President Trump on countries worldwide. The two countries where Nike makes a significant amount of its goods are China and Vietnam. Earlier this year, Trump placed a 46% tariff on goods manufactured in Vietnam and a triple-digit rate on goods made in China. He later reduced both rates, temporarily, to 10% and 30% respectively. Still, Nike chief financial officer Matt Friend said on Nikes earnings call that the tariffs currently in place will result in a new and meaningful cost to Nike, notes CNBC, adding that the company estimates that a gross incremental cost increase to Nike of approximately $1 billion. So why are Nike shares up? You would think that Nikes warning of up to $1 billion in tariff-related costs and its pretty dismal Q4 results would send the stock down, not up. But NKE stock is currently up, and significantly, as of the time of the writing. In premarket trading, NKE shares are currently up over 10% to $68.85. There are a few likely reasons for this. First is that, while Nikes Q4 wasnt anything to write home about, the company actually came in above most Wall Street estimates. Analysts had expected Nike to have a pretty poor quarter already, and indeed, as noted by CNBC, Nike had previously said its Q4 would be the low point of its turnaround. This turnaround involves Nikes pivot to return its focus to athletes and shift away from its recent history of trying to cater to the wider lifestyle segment of the population. The turnaround was initiated after Nike brought in a new CEO, Elliott Hill, last October. For its Q4, analysts had been expecting revenue of $10.72 billion and an EPS of 13 cents. So though Nikes Q4 results were disappointing, especially compared to earlier quarters, its actual revenue of $11.1 billion and adjusted EPS of 14 cents came in above expectationssomething investors typically reward. But another reason the stock is likely rising in premarket trading is also related to that $1 billion hit Nike is expecting. Though the company says it expects the 10-figure hit this financial year, CFO Matt Friend also said Nike expects to fully mitigate Trumps tariff costs over time. Nike will mitigate these tariff costs by using a three-pronged approach: adjusting its supply chain sources getting its suppliers to absorb some of the costs raising prices on U.S consumers later this year NKE shares are still red for the year Despite Nikes 10% price surge this morning, shares in the company are still down significantly for the year. As of yesterdays close, Nike shares were sitting at $62.54down more than 17% for the year. However, that was still significantly above its April lows of nearly $52 per share after President Trump unleashed his Liberation Day tariffs on the world. Over the past 12 months, Nikes shares were down more than 33% as of yesterdays close.
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E-Commerce
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