The U.S. economy contracted by 0.3% in the first quarter, fueling recession fears amid low consumer confidence and a declining stock market. Meanwhile, the U.S. and Ukraine signed a minerals deal, aiming to bolster Ukraine's economy and incentivize continued U.S. support. The agreement avoids treating prior U.S. aid as debt and is seen positively by some Ukrainians, though others remain cautious. Elsewhere, tensions rise between India and Pakistan following a militant attack in Kashmir, and a proposed restructuring of the federal student loan system in the U.S. aims to cut over $330 billion in spending.

Prepared by Christopher Adams and reviewed by editorial team.