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Bass Advances To Runoff In LA Mayor’s Race; Pratt Leads Contenders

Bass Advances To Runoff In LA Mayor’s Race; Pratt Leads Contenders

Authored by Jackson Richman and Beige Luciano-Adams via The Epoch Times,

Los Angeles Mayor Karen Bass advanced to the November runoff election for Los Angeles mayor.

The Associated Press called Bass’s advancement after 1:30 a.m. ET on June 3. Reality TV star Spencer Pratt and Los Angeles City Councilmember Nithya Raman lead 11 other candidates in the race for runner-up.

The runner-up will face Bass in the runoff election on Nov. 3.

Bass campaigned on issues including affordability, public safety, and homelessness. Pratt focused his campaign on crisis management, fiscal responsibility, government reform, public safety, homelessness, infrastructure improvements, support for small businesses, and oversight of the Los Angeles Department of Water and Power.

Raman’s platform emphasized ending homelessness, expanding housing, protecting renters, improving public safety and transportation, environmental protection, immigrant rights, animal welfare, and support for small businesses.

Both Raman and Pratt have criticized Bass for her response to recent wildfires sweeping Los Angeles. Pratt’s home was destroyed in the Pacific Palisades fire in 2025.

A distinctive feature of Pratt’s campaign was the widespread use of artificial intelligence-generated videos created by supporters.

One of the most widely viewed videos opens with scenes of Los Angeles engulfed in flames, with Bass as a Joker-like villain and Pratt as a Batman-style hero promising change. In another, Bass is portrayed as Darth Vader from Star Wars, and in a third, she appears as the villain Thanos from Marvel’s Avengers franchise.

Former Florida Gov. Jeb Bush praised the Joker-themed video in a May 5 post on X, calling it “maybe the best political ad of the year.”

Bass has publicly criticized the AI-generated videos.

“Actually, I think it’s a very dangerous trend,” she said during a May 13 interview with CNN.

Los Angeles mayoral candidate Spencer Pratt visits ‘Fox & Friends’ at Fox News Channel Studios in New York City on May 28, 2026. Dimitrios Kambouris/Getty Images

She argued that some of the imagery, including scenes showing tomatoes thrown at her character in the Joker video, resembled blood and contributed to an increasingly hostile political atmosphere.

Bass warned that portraying political opponents as villains could influence unstable individuals and escalate tensions.

Los Angeles city councilwoman Nithya Raman speaks in Los Angeles on Aug. 7, 2024. John Fredricks/The Epoch Times

At the same time, she acknowledged that many voters are frustrated with current conditions and that Pratt has tapped into those concerns by presenting himself as a solution to the city’s challenges.

“I think that plays into people’s desperation, and I think oftentimes we look for someone superhuman to save us,” Bass said. “The reality is it never happens. Those are fictional characters.”

Voters Sound Off

In interviews with The Epoch Times, many voters at polling stations across L.A. County on Tuesday described a deep dissatisfaction with incumbent Karen Bass’s handling of the fires and the homelessness crisis.

Some embraced Pratt, while others said they would have preferred a more progressive candidate in the style of New York City’s Zohran Mamdani.

“Bass has failed us,” said Tom Perez, 69, a resident of East Los Angeles who said he has been a lifelong Democrat since he began voting in the 1970s. “It’s not that I don’t trust them as individuals, I just don’t trust the Democratic Party.”

Perez said he found Pratt empathetic, and his AI-fueled guerrilla campaign effective. “I feel for him, he lost his house. Even his commercials, who could not vote for him?”

Eduardo Cardenas, 28, also an East L.A. resident, a self-described political pessimist, said he was simply voting against the worst of what he’s seen.

“Like the Mayor [Bass], when the fires happened, I just didn’t like how she handled it. So I’ll pick a candidate that is most likely going to be the contender against that person. Basically, my preference is for anyone but her.”

Elizabeth, a 56-year-old West Adams resident who asked to be identified by her first name only, said her main priority was to ensure Pratt didn’t make it to the general election.

“I was struggling between Karen Bass and Nithya Raman, and I ultimately voted for Raman in a strategic vote, because I will do anything to keep Spencer Pratt off the ballot—I find him dangerous, unqualified—every negative thing possible,” she said.

“I used to live in New York City, and I would love a Mamdani here for mayor. Maybe Raman is that, I don’t know,” she said, adding that she has leaned more progressive in recent years as a result of rampant corruption among both parties.

A 31-year-old West Adams resident who goes by the name “Zochi” expressed a similar sentiment.

“I moved here recently. … I was in New York last year, so I got to experience Zohran and I was like, ‘Oh my God, this is amazing.’ And then I come here and I’m like, ‘Oh, there is not a lot going on here,” he said, referring to a “pretty weak ballot” in the primaries.

Meanwhile, residents in unincorporated areas and other cities in L.A. County who can’t technically vote for L.A. mayor but are impacted by the office’s policies, also weighed in on Bass.

“She’s doing a great job, but she didn’t do enough for the homeless, because you can see the shift—they’re now in other cities, and who’s tracking them? They’re in Montebello, where I live,” Lydia Leon, 67, told The Epoch Times at the L.A. County Registrar’s Office in Norwalk.

“If you go down any freeway, you’ll see tent after tent after tent. They’re all over the place. And maybe they’ve shifted out of downtown L.A., but they’re now all here and in the other cities.”

Joseph Trevisu, 20, said he was rooting for Pratt.

“I think anyone who lives in L.A. County and frequents the city of L.A. knows it’s a mess,” Trevisu said. “They need an outsider who’s going to come in and clean house.”

Trevisu, a college student, said his professors have drilled in him that the definition of insanity is doing the same thing over and expecting a different result.

“For a long time, us Democrats have been electing Democrats because they have a ‘D’ next to their name and expecting a different result,” he said. “The party is out the window. I think we’re all sick and tired of this stuff.”

Tyler Durden
Wed, 06/03/2026 – 07:20

“Dramatically Less Accessible To The Average Fan”: Knicks Finals Tickets At MSG Sell From $3K To $280K

“Dramatically Less Accessible To The Average Fan”: Knicks Finals Tickets At MSG Sell From $3K To $280K

For the first time since 1999, the New York Knicks are heading to the NBA Finals. For fans, it’s a dream decades in the making. For anyone hoping to attend a game at Madison Square Garden, however, that dream comes with a staggering price tag in the thousands of dollars. 

The 2026 NBA Finals between the New York Knicks and the San Antonio Spurs have produced some of the most expensive basketball tickets ever recorded. Secondary-market prices have surged to levels that rival — and in some cases exceed — major championship events such as the Super Bowl.

The cheapest tickets available for Knicks home games in the Finals have generally been listed between $3,600 and $4,100. Reports from TickPick, SeatGeek, and other ticket marketplaces showed get-in prices exceeding $3,800 for some Madison Square Garden games, while average ticket prices in New York have hovered around $6,000.

Even compared with the already-expensive games in San Antonio, Madison Square Garden stands in a category of its own. While some Spurs home games have had entry prices closer to $1,200-$2,000, New York’s home games have consistently commanded much higher premiums.

The biggest shock has come at the luxury end of the market. One pair of courtside Knicks Finals tickets reportedly sold for nearly $280,000 on the secondary market. Individual premium seats have been listed for well into six figures, with some season-ticket holders reportedly considering offers approaching $100,000 per seat.

To put that into perspective, the cost of sitting courtside for a Knicks Finals game can exceed the price of a luxury automobile or a down payment on a home in many parts of the United States.

Several factors are driving the unprecedented demand. First, the Knicks have not appeared in the NBA Finals since 1999, creating nearly three decades of pent-up demand among one of sports’ largest fan bases. Second, Madison Square Garden has a relatively limited seating capacity compared with many newer arenas. Finally, the New York metropolitan area contains one of the world’s largest concentrations of affluent sports fans and corporate buyers willing to pay premium prices for marquee events.

The combination has created a perfect storm in which demand dramatically exceeds supply.

The difference between today’s prices and those from the Knicks’ previous Finals appearances is striking. According to reporting comparing 2026 prices with the 1994 NBA Finals, upper-level seats that once cost roughly $35 now carry prices well above $1,700, while even the least desirable seats for the current Finals often cost several thousand dollars.

In inflation-adjusted terms, Knicks Finals tickets have become dramatically less accessible to the average fan.

Tyler Durden
Wed, 06/03/2026 – 06:55

Commodity Markets Are Living On Borrowed Time

Commodity Markets Are Living On Borrowed Time

Authored by Helen Thomas via City AM,

  • Governments and industry have softened the impact of energy and commodity supply disruptions by releasing reserves, reducing inventories, and increasing operational flexibility.

  • These measures are temporary, and continued inventory drawdowns are pushing oil and metal markets toward historically tight conditions.

  • Once inventories become critically low, higher prices may become the primary mechanism for balancing supply and demand, leading to weaker economic growth and lower consumption.

Commodity markets have spent the past three months performing an extraordinary balancing act. Despite one of the most significant disruptions to global energy flows in decades, the global economy has continued to function remarkably smoothly. After an initial spike, prices for several key commodities have stabilised or even eased. Yet this apparent calm is deceptive. The reason the system has held together is due to governments, producers and consumers drawing down the buffers that normally protect the global economy from disruption. Those buffers are now approaching dangerous limits.

Inventories are being depleted at a remarkable pace. Global oil stockpiles have fallen to levels that senior industry executives describe as unprecedented. Aluminium markets are facing a similar squeeze. Bloomberg recently calculated that combined stockpiles tracked by the London Metal Exchange, CME Group and the Shanghai Futures Exchange would cover less than five days of global supply. 

The surprising resilience of commodity prices reflects the fact that the global economy has proved far more adaptable than many expected. Strategic reserves have been deployed on a large scale. The United States and Japan have both released oil from emergency stockpiles to cushion the loss of supply. American jet fuel output has reached record levels. Even China has managed to reduce crude imports without any obvious drawdown of its strategic petroleum reserves, which a recent report from the Oxford Institute for Energy Studies suggests is due to changing refinery yields and industrial flexibility. In effect, China has been extracting greater flexibility from its industrial system rather than relying solely on inventory releases.

All of these developments demonstrate a market responding exactly as economic theory would predict. When a critical input becomes scarce, producers seek substitutes, inventories are drawn down and existing capacity is pushed harder. These adjustments can be remarkably effective. They buy time. But time is ultimately what inventories represent. Every barrel released from a reserve, every tonne withdrawn from a warehouse, and every industrial workaround implemented today simply postpones the moment when supply and demand must once again be reconciled.

The US Strategic Petroleum Reserve is a case in point. The United States entered this crisis from a significantly weaker position than prior energy shocks. Having peaked at more than 700 million barrels in 2010, the SPR had already been reduced by roughly a third before the disruption in the Middle East began. Recent releases have helped stabilise markets, but they have done so by consuming the very buffer that exists to absorb future shocks. The critical question is not whether the SPR can technically be depleted. It cannot. The more important question is whether markets begin to doubt that policymakers possess sufficient reserves to continue cushioning disruptions indefinitely. Once that confidence disappears, the existence of barrels underground becomes less important than the perception that the shock absorbers are running out.

At some point, the arithmetic becomes unavoidable. The world cannot permanently consume more commodities than it produces. Strategic reserves can only be released once. Inventories can only be drawn down once. Refineries can only be reconfigured so far. Eventually, the familiar supply-and-demand framework begins to reassert itself, and a new equilibrium must emerge between available supply and desired consumption.

Demand destruction

Economists have a sanitised term for this process: demand destruction. The reality is more painful. Demand destruction occurs when prices rise to a level that forces consumers and businesses to reduce their consumption. Households spend more on fuel and less on everything else. Airlines reduce routes. Manufacturers delay investment. Energy-intensive industries curtail production. Consumption falls not because people choose to consume less but because higher prices leave them no alternative.

This is why inventory levels matter so much. As long as stockpiles remain available, markets can postpone the adjustment. Once they are exhausted, prices become the primary mechanism through which balance is restored. Neil Chapman, senior vice-president at ExxonMobil, recently described the situation with unusual candour. Oil prices, he argued, have remained relatively contained because inventories have been drawn down. Yet those inventories are now approaching levels rarely seen in modern markets. Once those buffers disappear, the economics change rapidly. As Chapman put it, “a model would say Brent will shoot up” towards $150 or even $160 per barrel.

Many governments will inevitably seek to shield consumers from the consequences. Price caps, subsidies and emergency fiscal packages are politically attractive when energy costs surge. Yet such measures do not eliminate the underlying economic loss. They merely redistribute it. If consumers are protected from higher prices, then taxpayers, bondholders or currency holders must absorb the cost instead.

Japan offers an early illustration of this dynamic. The government has proposed additional fiscal support while simultaneously insisting that it will not require higher borrowing over the calendar year. Markets appear sceptical. Yields across the Japanese government bond curve have risen as investors attempt to identify where the cost of these interventions will ultimately fall. The pressure has not disappeared; it has simply been transferred elsewhere within the system.

This is the uncomfortable reality confronting policymakers around the world. There is no financial engineering solution that can replace missing barrels of oil. No accounting adjustment can create aluminium inventories that do not exist. No subsidy can transform a scarce commodity into an abundant one. The shock emanating from the Middle East is real, and while the global economy has responded impressively through substitution, efficiency gains and inventory drawdowns, these measures are temporary expedients rather than permanent solutions.

When inventories become critically low, markets force a new equilibrium. And a new equilibrium in a poorer world means exactly what it sounds like: higher prices, lower consumption and lower living standards. The commodity markets are not forecasting a poorer world. They are enforcing one.

 

Tyler Durden
Wed, 06/03/2026 – 06:30

Iran Sends Missiles, Drones Targeting Airbases Across Gulf After US Nighttime Attack On Qeshm Island

Iran Sends Missiles, Drones Targeting Airbases Across Gulf After US Nighttime Attack On Qeshm Island

Summary:

  • Two bases come under fresh missile attack in Kuwait, Fars and Reuters report. Iran state media says retaliation for night US attack on Qeshm Island.
  • Explosions & air raid sirens also being reported in Saudi Arabia, UAE, and Bahrain. It seems that war is popping off once again.
  • rump insists reports that Iran & US have not been talking for days is ‘fake news’; Rubio also tells Congress talks are ongoing, despite fresh Iranian denials, and even claims the nuclear file is part of it.
  • Washington has seen the Lebanon partial truce as opportunity enough to press forward on broader talks, with Trump saying he expects a broader Iran deal “over the next week”.
  • But Fars denies this Tuesday: “exchange of messages between Iran & the US has been stopped for at least a few days” on MOU.

*  *  *

War Returns? More Missiles Fired On Kuwait, Sirens & Explosions In KSA, UAE

In the overnight hours local time, Kuwait is reporting inbound missiles and drones, with Fars reporting that two American bases were targeted. Explosions and air raid sirens also being reported in Saudi Arabia, UAE, and Bahrain. It seems that war is popping off once again.

Per a breaking Reuters report:

Kuwait’s army says that air defenses are intercepting hostile missile and drone attacks and urges the public to follow security and safety instructions issued by the relevant authorities.

Any sounds of explosions heard are the result of interceptions, the army adds.

Tasnim: “Blasts reported at Kuwait’s Ali al-Salem US airbase” after three missiles were fired. And the latest from CNN:

Kuwait says it is intercepting enemy missile and drone attacks. While it has not yet identified who it believes is behind the attack, the news comes shortly after Iranian media reported “explosion-like sounds” near Iran’s Qeshm island. Meanwhile, the US military said it “disabled” an oil tanker heading for an Iranian port by striking it with a Hellfire missile.

Unconfirmed emerging footage:

Sirens have also been activated in Bahrain, for unknown cause. New IRGC statement:

US Military Fires on Non-compliant vessel

In fresh action CENTCOM has announced it has fired on another vessel which was non-compliant to the US blockade:

  • CENTCOM SAYS DISABLED NON-COMPLIANT VESSEL IN ARABIAN GULF
  • CENTCOM: DISABLED VESSEL W/ HELLFIRE MISSILE TO ENGINE ROOM

Trump: It’s ‘Fake News’ That Iran & US Stopped Speaking Days Ago

President Trump in a fresh Truth Social post has again insisted that Washington and Tehran are talking again. “The conversations between us have been going on continuously… where they lead, one never knows, but as I told Iran, ‘It’s time, one way or another, for you to make a Deal.'”

Throughout the morning Secretary of State Marco Rubio was fielding questions on Capitol Hill. He too insisted that talks are ongoing, despite a Tuesday Iranian denial. He claimed the regime is ‘fragmented’ and because of this, back-and-forth messaging is extremely slow-going. “Iranian people would make a deal tomorrow if it were up to them,” Rubio said. “The Supreme Leader and the IRGC are a bit more immune to pressures.”

He also generally acknowledged that Iran has effectively shut down the Strait of Hormuz, and then said this justified the US naval blockade of Iranian ports in turn. There was also this interesting exchange when he echoed Trump’s line that the war is actually ‘over’ at this point…

Hawks like Ted Cruz want to know of any other regime change tactics going on…

A potential new nuclear framework regarding Iran was also a central topic to Tuesday’s Congressional testimony:

Big if true, there is still too much smoke and noise:

Secretary of State Marco Rubio said Tuesday that Iran has agreed to discuss previously off-limits aspects of its nuclear program, raising hopes that ongoing negotiations could pave the way for the reopening of the Strait of Hormuz and a broader diplomatic breakthrough.

Speaking at a Senate Foreign Relations Committee hearing on the State Department’s budget request, Rubio said: “We are in talks… There is the prospect before us, which could happen today, it could happen tomorrow, it could happen next week, that for the first time, certainly in my memory, they have agreed to negotiate aspects of their nuclear program.”

He said the U.S. hopes such negotiations could lead to a broader understanding that would include the reopening of the strategic waterway.

“We’re hopeful that something like that could happen, in which the straits would reopen, we would enter into a period of negotiations on very specific topics, delineated negotiations, in the hope of reaching an outcome that’s acceptable to us and something they would be able to do as well,” he said.

The above was spoken with a few too many caveats… “which could happen today, it could happen tomorrow, it could happen next week...”

Rubio in the hot seat over Iran war:

Iran Denies Progress, Halt in Talks Still in Effect

State media has belatedly responded to Trump’s Monday claim that talks between the US and Iran are back on. Trump has even said Tuesday that he expects an agreement for an extended ceasefire to take place “over the next week” – along with the reopening of the Strait of Hormuz. 

“An informed source says that the exchange of messages between Iran and the US has been stopped for at least a few days for what is called the initial memorandum of understanding between Tehran and Washington,” Fars reports. So this is Iran in effect saying ‘not so fast’ – as it seeks to ‘hold the cards’ and maintain some leverage. Trump has not indicated a willingness to resume bombing the Islamic Republic, but his patience has seemed to be wearing thin over the last several days, as the White House is boxed in to only choosing among several ‘bad options’ in the wake of launching a war of choice 95 days ago.

Oil spikes on the negative news from Tehran, extends:

And more confirmation via newswires:

An Iranian source says there is currently no message exchange with the U.S., contradicting claims of ongoing progress. The source reports talks on an initial understanding have stalled for several days. It also noted Iran’s last communication with Washington concerned Lebanon and drew international attention, despite President Trump stating negotiations are advancing rapidly.

Latest on the Lebanon front:

“American sources for AI Hadath: Proposal for a 60-day plan during which Israel withdraws gradually from southern Lebanon”: AI Hadath reports.

  • “Negotiations propose the deployment of the Lebanese army and UNIFIL in southern Lebanon after Israel’s withdrawal.”
  • “Lebanon seeks to resolve Hezbollah’s weapons file politically, but after Israel’s complete withdrawal.”

Lebanon Fighting Persists Amid Nominal Ceasefire

Various regional and international reports have documented serious ongoing fighting in Lebanon, despite President Trump the day prior having declared that the shooting will cease and that Hezbollah and Israel were forging a limited ceasefire. Trump had said of both sides that “they agreed that all shooting will stop” – after Iran announcing it had suspended peace talks with the US over Israeli military action in Lebanon.

Israeli Prime Minister Benjamin Netanyahu did affirm he would adhere to the agreement, and reports say that planned new airstrikes on Beirut were called off, but he also warned the attacks on the capital would go ahead “if Hezbollah does not stop attacking our cities and civilians” – and that forces in the south would continue operating.

BBC has freshly written that “While the ceasefire appears to be largely holding, there was further violence overnight.” The same report details:

Hezbollah said its fighters had targeted Israeli tanks in the southern Lebanese towns of Haddatha and Bayada with missiles and shells. The Israeli military said it had intercepted two projectiles that had been fired from Lebanon in the early hours of Tuesday. No injuries have been reported.

Lebanon’s state-run National News Agency reported Israeli strikes on several southern areas and said a “very violent” explosion from a large-scale demolition rocked the town of Debbine.

Tuesday has witnessed some ongoing attacks on south Lebanon, as well as Hezbollah drone attacks on Israeli troop positions, wounding some. According to some of the latest from Al Jazeera:

Israeli forces have carried out multiple air raids on the city of Nabatieh, one of the largest in southern Lebanon, our colleagues on the ground report. The city, a strategic hub for Hezbollah, has been encircled by Israeli forces in recent days as troops continue pushing north.

Israeli attacks were also reported across the wider Nabatieh district as Israel deepens its occupation of surrounding areas. Drones hit the towns of Kafr Sir and Aabba, while a strike targeted the road leading to Houmine al-Fawqa. The outskirts of Yahmour al-Shaqif were also hit.

There’s also been a lot of explosions in the southern city of Tyre, with Israeli jets active in the airspace above on Tuesday. And rescuers have recovered six bodies from another town, with Lebanese civil defense agency having said in a statement: “Since yesterday evening and continuing until this morning … personnel have been carrying out search and rescue operations in a residential building that was targeted in the town of Marwaniyah – Sidon district.”

Hezbollah’s fiber-optic drone attacks have at the same time not ceased: “Two Israeli soldiers have been wounded in a Hezbollah drone attack in southern Lebanon, the military says, describing their injuries as minor,” Al Jazeera reports Tuesday. This is after “Two other Israeli soldiers were killed over the weekend, also in drone attacks, bringing to 26 the number of soldiers killed since fighting escalated three months ago. Four Israeli civilians have also been killed.”

Impact of Trump’s ‘Steamrolling’ Netanyahu in Monday Call

President Trump’s angry dressing down of Netanyahu may have had very limited effect, it appears. To review, per Axios during a Monday call Trump was reportedly heard cussing at the Israeli leader and essentially ‘steamrolled’ him – angry over breaking the Lebanon truce and demanding that Israel’s military not attack Beirut.

Trump is said to have told Netanyahu “you’re fucking crazy’” while demanding Lebanon truce: “I’m saving your ass,” he also reportedly said. Iran early Monday said it halted talks with Washington because of Israel’s escalation in Lebanon. 

There’s been some reaction from Iran to the Axios report, with Iran’s Deputy Foreign Minister Kazem Gharibabadi having remarked, “In this regard, the US president’s claim of having dissuaded Netanyahu from launching a major attack on Beirut is more than a sign of Washington’s peace-seeking, it’s confirmation of America’s direct role in managing the Zionist regime’s aggressions.”

The Iranian official continued to offer Tehran’s vew: “If the decision to attack the capital of an independent state can be changed with a single phone call the main question is: why did months of ceasefire violations, aggression against Lebanon, the displacement of its people, and threats to this country’s sovereignty – backed by Western political and military support – continue unabated?” he remarked.

Mark Levin rages over White House leaks of Trump-Netanyahu call…

Trump Returns to Optimism: Agreement ‘Over the Next Week’

But Washington has seen the Lebanon partial truce as opportunity enough to press forward on broader talks. While there’s hasn’t been full confirmation from Tehran’s side, Trump has declared the talks as back on:

US President Trump told ABC News he thinks he will have an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz over the next week, while he also stated that a peace agreement with Iran could be better than a military victory. Trump also stated that it’s not simple for both sides, but they’re getting what they need to get and that he still has to get a few more points.

The very same network points on Tuesday morning:

Israeli and Hezbollah forces continued their attacks on Tuesday despite President Donald Trump’s claim that the warring sides had “stopped shooting each other” after his intervention to prevent escalation on Monday.

Lebanon’s state-run news agency, NNA, reported three Israeli strikes in separate areas in southern Lebanon. One person was killed, NNA reported. ABC News has contacted the Israel Defense Forces to request comment.

So, once again Trump touting the likelihood of a deal to reopen Hormuz by next week seems extremely wishful and ambitious, to say the least. And we’ve heard all this before, and been here many times over the past 95 days of war.

Tyler Durden
Wed, 06/03/2026 – 06:15

Reactor Developers Advance Sweden’s Nuclear Ambitions While State Puts Up $3.7 Billion

Reactor Developers Advance Sweden’s Nuclear Ambitions While State Puts Up $3.7 Billion

Sweden advanced its nuclear revival with two major filings for new capacity and a government proposal to commit up to $3.7 billion in state capital for SMR projects.

SEALER reactor design

On May 18th, Blykalla submitted the first application for an advanced reactor park under Sweden’s new siting process. The Norrsundet site would host six 55-MWe SEALER lead-cooled reactors, for 330 MWe total. 

CEO Jacob Stedman called it a historic first for Sweden, and linked the technology to meeting AI and electrification demand with reliable baseload power. Blykalla has a prototype facility underway at Oskarshamn with Uniper and partnerships with Oklo and ABB.

Studsvik filed in May for 600-1400 MWe of SMR capacity at its Nyköping site. This follows the Studsvik group’s earlier March application for Valdemarsvik. CEO Karl Thedéen highlighted the site’s decades of expertise and the intention to deliver real grid capacity in the 2030s as part of the company’s ReFirm program.

The government also recently proposed to acquire a 60% stake in Videberg Kraft AB, the Vattenfall-led project company for up to 1500 MWe at Ringhals. Vattenfall is the state-owned utility company. 

The support package includes an initial SEK 1.8 billion ($193 million) injection and up to SEK 34.3 billion (~$3.7 billion) during construction, plus a share of SEK 122 billion (~$13 billion) baseline waste system costs. The structure aims to de-risk the first mover so later projects share fixed costs. Videberg is choosing between five GE Vernova Hitachi BWRX-300s or three Rolls-Royce SMRs, with selection later this year and investment decision in 2029.

Goldman provided some additional color on Swedish nuclear projects in their recent industry summary. We also touched on Studsvik’s acquisition of Kärnfull Next, which highlights the ongoing skilled engineering manpower bottleneck.

Timelines for first power remain in the early 2030s, with visible construction still months or years away. Sweden shows what policy certainty and state capital can achieve in spurring applications, but China’s pace of actual reactor builds remains the benchmark for delivery.
 

Tyler Durden
Wed, 06/03/2026 – 05:45

Opposite Of Drawdown: US Mulls Expanding Nuclear Weapons Deployments In Europe

Opposite Of Drawdown: US Mulls Expanding Nuclear Weapons Deployments In Europe

The White House has been talking about reducing America’s military presence across the European continent, amid long-running Trump complaints over lack of NATO burden-sharing. There are even plans to draw down 5,000 US troops from Germany on a permanent basis (though for now it appears thousands are just being moved to Poland).

Such a military ‘reduction’ would be welcomed by Moscow, however, as is usual when Washington signals de-escalation in force posture, the result ends up being the opposite. Washington is reportedly preparing to scatter more nuclear tripwires across the European continent, all while claiming a draw down of forces and footprint.

DoD file image

According to a Financial Times report published Tuesday, the US is actively discussing whether to deploy nuclear weapons in more NATO states.

Citing three people briefed on the internal discussions, American officials have signaled distinct openness to additional deployments well beyond the six nations that currently host the Pentagon’s nuclear-capable bombers.

Under NATO’s legacy nuclear sharing program, only six allies including Belgium, Germany, Italy, the Netherlands, Turkey, and the United Kingdom – are approved to host US supplied dual-capable aircraft and “forward-deployed” nuclear bombs.

And yet that exclusive club may be about to get a lot larger, and even closer to Moscow’s doorstep. Unsurprisingly, the nations highest on the list are located along NATO’s eastern flank, with Poland and various Baltic states already aggressively expressing interest in hosting the bases required to house the aircraft.

But as even Ukrainian media points out, this violates prior high level agreements between the Western alliance and Moscow:

The 1997 NATO-Russia agreement said NATO had no plans to place nuclear weapons in new member states. However, some countries that joined NATO later, including Poland, have since said they would be open to hosting US nuclear weapons, especially after Russia’s invasion of Ukraine.

The FT report suggests that while an agreement to expand nuclear hosting is not imminent, high-level discussions are happening at the highest levels of NATO.

The proposal seems to be Washington’s carrot offered alongside the ‘stick’ of renewed financial arm-twisting over lack of European defense spending.

via London School of Economics and Political Science

As we featured last week, some recent reports have dubbed the new vision for European defense as “NATO 3.0” – wherein Washington would expect European allies to assume responsibility for the continent’s entire conventional defense, and the nuclear arsenal would be maintained by the United States. Lately France’s Macron has introduced the possibility of a French nuclear umbrella, apparently as an alterantive.

Tyler Durden
Wed, 06/03/2026 – 04:15

White Girls Raped By Dogs, Whisky Bottles, & 100s Of Men: Britain’s Migrant Grooming-Gang Scandal Exposed

White Girls Raped By Dogs, Whisky Bottles, & 100s Of Men: Britain’s Migrant Grooming-Gang Scandal Exposed

Via Remix News,

Restore Britain leader Rupert Lowe used a Westminster Hall debate on Monday to confront MPs with harrowing testimony from White girls and women who were raped, tortured, trafficked, and degraded by migrant grooming gangs, and abandoned by the very authorities that should have protected them.

The debate was secured after 260,974 Brits signed a petition calling for Parliament to address the rape gang scandal. Lowe opened by thanking the signatories and welcoming survivors who were sitting in the hall, saying the debate was not about politics, but about them.

“I want the world to hear what we heard during the two weeks of our independent rape gang inquiry hearings, an inquiry that should never have needed to happen,” Lowe said.

He then read out a series of graphic testimonies that exposed the scale of the abuse suffered by almost exclusively White girls.

One survivor said she was only “about 12, nearly 13” when a man raped her before forcing an empty Jack Daniel’s bottle inside her and breaking the glass. Another described being held down by groups of men as they took turns to rape her, before beating her and threatening to kill her and harm her loved ones if she ever spoke out.

Lowe told MPs that the evidence heard by his inquiry included repeated allegations that White British girls were deliberately targeted.

One survivor said abusers made constant references to “White girls” and “Christian girls,” claiming they had “fewer morals or lower values,” while Muslim girls were described as having “dignity and higher moral standing.”

Another alleged victim said race “did play a part” in the selection of victims, adding that the girls she encountered during her exploitation were “almost exclusively White.”

The testimony also included claims that children in care were effectively handed over to abusers. One survivor said men would sound a car horn outside a children’s home before a staff member brought a child to the front door. Another said, “It was all of the White girls in every home that I went to.”

In one of the most disturbing accounts read to MPs, a survivor recalled seeing the back of a van opened to reveal “15, 20 girls locked in dog cages.” Another said dogs were brought in during an attack while men stood around filming, laughing, and betting on what would happen. She said she had nowhere to move and was raped by a dog while a man held her face and stared into her eyes because “he wanted to see me break.”

Lowe also read testimony from a survivor who said she was raped by “probably about six or seven hundred different men” over three years after the abuse began when she was 13. Another said abuse escalated around Eid and holidays, when parties became “bigger, worse, and “more violent,” with more men and more girls involved.

The Restore Britain leader claimed that institutions had repeatedly failed victims. One girl said she went to hospital at 15, bleeding, swollen, and unable to sit down after an assault, but was given tablets and discharged after telling staff her drink had been spiked because she was too frightened to say what had really happened. “They did not ask any questions,” she said.

Another survivor alleged that she was raped by multiple police officers in different parts of the country. A further testimony claimed a man put a cigarette out on a baby’s face.

Lowe said the abuse was also used to attack the faith and identity of victims. One Christian survivor said her cross was used as a way to break her down, with abusers asking, “Where is your God now? Has your God forsaken you?”

The politician said he could have continued reading testimony “for hours and hours,” warning that Parliament no longer had any excuse for inaction.

“All of us in this building have a responsibility to finally act. Not to talk, but to act,” he said. “Our Rape Gang Inquiry report will be released in the coming days. It will change Britain for good.”

Lowe launched his own independent inquiry before the U.K. government announced a statutory national investigation into grooming gangs, a probe that identified evidence of child sexual exploitation across dozens of local authority areas.

Read more here…

Tyler Durden
Wed, 06/03/2026 – 03:30

US Warns Ally Oman That It Better Pick The ‘Right’ Side In Hormuz Standoff

US Warns Ally Oman That It Better Pick The ‘Right’ Side In Hormuz Standoff

The saga of rare Washington pressure on its longtime regional ally Oman continues, with on Tuesday The Wall Street Journal reporting that US officials are growing “increasingly frustrated” with Muscat’s neutral stance, which they now view as hostile to US interests.

Oman has stood accused of cooperating with Iran on a proposed toll collection scheme which would benefit Tehran and circumvent America’s aims for the region.

Via container-news

“In recent days, the Trump administration has threatened to sanction and even bomb Oman, after a new intelligence assessment concluded that Muscat was planning to join Iran in tolling vessels in the strategic Strait of Hormuz, according to another U.S. official,” WSJ writes. “Oman has repeatedly denied that it plans to do so.”

Interestingly, Oman actually provided some level of military assistance to the US even as it launched an unprovoked attack on the Islamic Republic alongside Israel.

“Omani territory was used to provide some logistical supplies to the U.S. military at the start of the war, say Arab and U.S. officials,” notes the report. “But the U.S. official said the military assistance was small.”

During a cabinet meeting last week, President Trump made clear that Muscat must align with US-backed ‘international norms’ or face consequences, warning, “Oman will behave just like everybody else, or we’ll have to blow them up.”

Omani Information Minister Abdulla al-Harrasi has recently emphasized that the Sultanate remains “ready to work with the United States and all responsible partners to promote stability” and protect mutual interests. 

The small strategically located Arabian peninsula country has sought to walk a fine line, but Washington is angered as it has yet to explicitly condemn Iran, even after weeks of attacks on Gulf states (at the height of Operation Epic Fury):

Since the war started, Oman has assisted ships, including from the U.S., by providing navigational guidance, search-and-rescue services and medical assistance to ship crews, said a person familiar with the matter.

Harrasi said the country remained committed to the free flow of commerce and energy through the strait. “Any threat to freedom of navigation in these waters would harm the interests of the entire international community, including the United States,” he said.

In May, Oman was the only Persian Gulf country that refused to sign an Emirati-led U.N. statement condemning Iran’s move to charge tolls in Hormuz

Some have called Oman the “Switzerland of the Middle East” – a status that Omani diplomats are proud of. Likely they are also very wary of being seen as is America’s or Israel’s corners – especially before their domestic Arab population.

One analyst quoted in the WSJ has summarized where things stand: Oman’s approach to Tehran so far has “opened the door to criticism and unwelcome scrutiny of a country that has long prided itself on its impartial foreign policy.”

Meanwhile, via Financial Times on Tuesday: “Greek shipping tycoon Evangelos Marinakis ready to pay Strait of Hormuz transit fees.”

If this trend of different shipping companies and nations approaching Tehran to do separate deal-making to transit the strait continues, we could see Iran placed in a stronger position globally than before the war began.

Tyler Durden
Wed, 06/03/2026 – 02:45

Russia Weighs $50 Million Plan To Influence Armenia’s Election

Russia Weighs $50 Million Plan To Influence Armenia’s Election

Via Eurasianet,

  • Reuters reported that Russian officials discussed influence operations aimed at weakening Prime Minister Nikol Pashinyan ahead of Armenia’s June 7 parliamentary election.

  • One alleged proposal involved temporarily bringing Armenian passport holders living in Russia back to Armenia to vote for opposition candidates.

  • Despite the reported efforts, polling suggests Pashinyan’s Civil Contract Party remains the clear frontrunner as Armenia debates its future relationship with Russia and the West.

Russia has mulled an extraordinary measure of exporting humans to Armenia in an effort to undermine Prime Minister Nikol Pashinyan’s chances of retaining power in the fast-approaching parliamentary elections on June 7, according to an investigative report published by the Reuters news agency. 

Despite the Kremlin’s best efforts to manipulate the election’s outcome, recent polling data shows that Pashinyan’s Civil Contract Party is pulling away from a collection of opposition forces and appears increasingly likely to have a majority in the next parliament.

According to Reuters, citing four sources who spoke on condition of anonymity, the Kremlin set up an agency in October called the Directorate for Strategic Cooperation and Partnership to run a wide array of influence operations in Armenia, including disinformation campaigns.

Another initiative reportedly considered involved transporting Armenian passport holders living in Russia back to Armenia temporarily so that they could vote for opposition candidates. Up to 2 million Armenian citizens are believed to be living and working in Russia. Election rules bar expats from voting.

Several Reuters sources said that Russian officials estimated that it would cost about $50 million to send 100,000 Armenians back to their homeland to cast ballots. Reuters could not confirm whether the repatriation-to-vote operation had been set in motion, and, if it had, how many Armenian citizens had actually returned for the elections.

Any such effort would appear to be a waste of time and money. A recent poll published by the International Republican Institute showed that Pashinyan’s public support is growing, the percentage moving from the low 20s to over 30 percent now. 

Given the fragmented support for opposition forces, Pashinyan’s party should be able to retain a parliamentary majority if it can maintain 30 percent support on June 7.

Pashinyan has sought to break Armenia out of Russia’s geopolitical orbit over the past two years and steer the country towards greater integration with the United States and European Union. Russia, meanwhile, is keen to maintain its political hold on Yerevan.

The parliamentary vote is widely seen as a referendum on Armenia’s geopolitical future.

Tyler Durden
Wed, 06/03/2026 – 02:00

Early Returns Show Surprises In California As Other States Wrap Up

Early Returns Show Surprises In California As Other States Wrap Up

Update (0030ET): Voters in six states went to the polls today for key primaries. While many races followed expectations, California delivered notable early drama with slow-counting mail ballots still to come.

California Governor (Top-Two Primary)

The race to replace term-limited Gov. Gavin Newsom remains the biggest story. In a crowded nonpartisan jungle primary, early returns (approx. 45-50% counted) show:

  • Steve Hilton (R) leading at ~26.7%
  • Xavier Becerra (D) close behind at ~25.8%
  • Tom Steyer (D) trailing at ~19.6%

Chad Bianco (R) is further back. If trends hold, Hilton and Becerra are positioned to advance to November – setting up a potentially competitive general election in deep-blue California. Mail ballots could still shift the order.

Polymarket: Will Xavier Becerra advance? (Yes 93% · No 7%) View on Polymarket

 

Los Angeles Mayoral Primary

Incumbent Karen Bass (D) leads with ~36.5-38% (46%+ counted), followed by a strong surge from Spencer Pratt (R) at ~30%. Nithya Raman (D) trails at ~20%. Bass and Pratt are heavily favored to advance to the November runoff. Pratt’s performance reflects voter frustration with homelessness, crime, and city governance.

Pre-election Polymarket: Will Karen Bass win the 2026 LA mayoral election? (Yes 68% · No 33%) View on Polymarket

Iowa

  • U.S. Senate (open seat): Rep. Ashley Hinson (R) won the GOP nomination decisively. State Rep. Josh Turek (D) won the Democratic nod. This sets up a key battleground race in November.
  • Governor (open): Early leads for Republican Zach Lahn in the crowded GOP field; Democrat Rob Sand unopposed.

Other Notable Races

  • Montana Senate (open): Kurt Alme (R) secured the GOP nomination.
  • California’s 11th Congressional District (replacing Nancy Pelosi): Scott Wiener (D) won with a strong lead.
  • New Jersey: Rebecca Bennett advanced in NJ-7; progressive Adam Hamawy won the open NJ-12.

Overall Takeaway: A night of outsider energy and tight races, particularly in California. Full results may take days or weeks due to mail-in ballots. These outcomes will shape the November midterms.

* * *

Authored by Joseph Lord via The Epoch Times (emphasis ours),

The California gubernatorial and Los Angeles mayoral primaries are among the most closely watched races today.

A voter fills out a ballot at a polling station in Des Moines, Iowa, on Nov. 6, 2018. Joshua Lott/Getty Images

Voters in six states will go to the polls today for a series of key races.

The biggest item of the night will be the litany of races in California, the nation’s largest state. Others will be held in Iowa, Montana, New Mexico, New Jersey, and South Dakota.

Here are the most important races to watch.

California Governor

The race to replace outgoing Gov. Gavin Newsom is one of the most-watched in the nation.

California’s gubernatorial elections are designed to be nonpartisan. With about six candidates polling with at least 5 percent support, only the top two vote-getters will be on the general gubernatorial election ballot in November, even if both are of the same party.

In the final weeks leading into the primary, the election underwent a total shake-up when front-runner Rep. Eric Swalwell (D-Calif.) left the race – and Congress – following multiple allegations of sexual harassment and sexual assault. Swalwell has denied the allegations.

Currently, the Democratic front-runners are former U.S. Secretary of Health and Human Services Xavier Becerra and billionaire Tom Steyer. The two are polling close, although Becerra retains a slight advantage.

Will Xavier Becerra advance from the 2026 California Governor primary election?
Yes 93% · No 7%
View full market & trade on Polymarket

The main Republican candidates in the race are Steve Hilton, a British American TV show host and conservative commentator, and Riverside County Sheriff Chad Bianco.

Polling leaves it unclear whether Hilton or Steyer is favored for second place.

Los Angeles Mayoral Primary

Residents of Los Angeles will also vote in the nonpartisan mayoral primary.

Incumbent Mayor Karen Bass is facing off against 10 other contenders. She is expected to win the top spot in the primary.

Will Karen Bass win the 2026 Los Angeles mayoral election?
Yes 68% · No 33%
View full market & trade on Polymarket

Meanwhile, the top Democratic contender for the second-place spot – member of the Los Angeles City Council Nithya Raman – is seeking to hold off a challenge from former reality TV star Spencer Pratt, running as a Republican, and make it to the general election.

California’s 22nd Congressional District

In California’s 22nd Congressional District, Rep. David Valadao (R-Calif.) will face off in a nonpartisan primary with state Rep. Jasmeet Bains and Randy Villegas, both Democrats.

Valadao is expected to win a place in the general election, although his final opponent will be decided by the outcome on June 2.

Will David Valadao advance from the CA-22 Primary?
Yes 90% · No 10%
View full market & trade on Polymarket

Polling in the district is sparse. A single poll conducted at the beginning of May by Data for Progress, a left-leaning pollster, showed Valadao with 44 percent support, Villegas with 25 percent, and Bains with 21 percent.

California’s 48th Congressional District

In California’s 48th Congressional District, a flurry of candidates have put their names into the ring.

Republican Jim Desmond leads in polls in the nonpartisan election, with fellow Republican Kevin O’Neil coming in second in some polls. Marni von Wilpert and Ammar Campa-Najjar are the Democratic front-runners.

The seat was one of five redrawn to favor Democrats last year – but that advantage only holds if a Democrat wins the nonpartisan primary.

California’s 11th Congressional District

In California’s 11th Congressional District, a slate of Democrats is competing to replace outgoing Rep. Nancy Pelosi (D-Calif.).

Most polls show a lead for candidate Scott Wiener, a Democrat, while Pelosi has endorsed San Francisco Supervisor Connie Chan. Chan has come in second in some polls, and Wiener enters the primary as the clear front-runner.

Will Scott Wiener receive the most votes in the CA-11 primary?
Yes 99% · No 1%
View full market & trade on Polymarket

The two Republicans in the running – when they have made it into the polls at all – have pulled less than 5 percent support.

Iowa Senate

Although Iowa has long been a lock for Republicans, it is among Democrats’ targets this year, as there are indications that the party could flip Senate seats previously considered safe. This year, Sen. Joni Ernst (R-Iowa) will not be seeking reelection, leaving the seat open.

Polls indicate that Rep. Ashley Hinson (R-Iowa) is favored for the Republican nomination over her rival, state Sen. Jim Carlin.

Will the Republicans win the Iowa Senate race in 2026?
Yes 62% · No 38%
View full market & trade on Polymarket

The polls leave it unclear whom the Democrats will nominate between candidates Josh Turek and Zach Wahls. Turek has led in more recent polling.

Will Josh Turek be the Democratic nominee for Senate in Iowa?
Yes 93% · No 7%
View full market & trade on Polymarket

Iowa Governor

Iowa’s gubernatorial race is open after Gov. Kim Reynolds, a Republican, announced that she would not seek reelection in 2026.

Several Republicans are contending for the nomination to replace her. The polls show that candidates Rep. Randy Feenstra (R-Iowa), Zach Lahn, and Adam Steen are leading in that race. On the Democratic side, only state Auditor Rob Sand is running.

A general election poll conducted in April by Echelon Insights, a Republican-aligned pollster, found that Sand had 51 percent support against Feenstra, who was polling at 39 percent.

Montana Senate

In Montana, the last-minute exit of Sen. Steve Daines (R-Mont.) from the race left Republican challengers little opportunity to register against former U.S. Attorney Kurt Alme, who registered for the GOP nomination just as Daines exited the race.

On the Democratic side, no polls have been conducted, leaving it unclear who is in the lead for the nomination.

As recently as 2024, the state was represented by Sen. Jon Tester, a Democrat. Some general election polls have shown 44 percent support for a generic Democrat.

New Mexico Governor

In New Mexico, Democrat and former U.S. Secretary of the Interior Debra Haaland is highly favored to win the Democratic nomination in the blue-leaning state, which some Republican strategists had eyed as a potential target in 2024.

On the Republican side, Gregg Hull narrowly leads Doug Turner in polls for the nomination.

New Jersey’s 7th Congressional District

One of the two top targets for Democrats in New Jersey is the seat of Rep. Tom Kean (R-N.J.).

Rebecca Bennett, a former Navy helicopter pilot, is favored to win the nomination, leading in most polls. Her closest rival is Brian Varela.

New Jersey’s 12th Congressional District

In New Jersey’s 12th Congressional District, incumbent Rep. Bonnie Watson Coleman (D-N.J.) is retiring, leaving open a safely Democratic seat in a district where the primary essentially is the general election.

The race has exposed ideological rifts in the Democratic Party.

Leading the progressive side in the race is Dr. Adam Hamawy, a Princeton trauma surgeon and Army veteran with endorsements from progressive heavyweights such as Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.).

The main other contenders for the Democratic nomination include East Brunswick Mayor Brad Cohen, state Rep. Verlina Reynolds-Jackson, and Somerset County Commissioner Shanel Robinson.

Tyler Durden
Wed, 06/03/2026 – 00:29