President Trump is due to hold a press conference on the Iran War this afternoon,

likely detailing the rescue of an American aviator who had been trapped in Iran for more than 36 hours

and potentially providing an update on diplomatic dealings with Tehran.

In an interview with Fox, Trump reportedly said that the U.S. could reach a deal with Iran as soon as today,

even as he threatens to escalate the conflict. Trump has given Iran until Tuesday evening to

reopen the Strait of Hormuz, saying that hell will rain down if they don't.

We are exclusively reporting that three sovereign wealth funds led by Saudi Arabia have agreed to back Paramount's $81 billion takeover of Warner Brothers Discovery.

The agreements could help to offset the cost to the Ellison's and Redbird Capital Partners, which is also backing the deal.

And drinks, Giants, PepsiCo and Diageageo have polled their sponsorship of a summer music

festival in London after Kanye West was announced as the headliner as he promotes a new album.

West has been trying to repair his image after years of controversies, including denying the

Holocaust, and in January took out a full-page ad in the Wall Street Journal, where he blamed his

behavior and anti-Semitic views on his bipolar disorder. Stock markets in Japan and South Korea

ended the day higher while markets in Hong Kong and Europe are closed. U.S. stock futures have

edged higher, while oil prices are little changed. And we have got a lot more

coverage of the day's news on the WSJ's once-news podcast. Add it to your playlist on your

smart speaker or listen and subscribe wherever you get your podcasts.