The World in Brief from The Economist

Hungary’s populist-right Fidesz party re-elected Viktor Orban as its leader despite his defeat in April’s general election

Shares in SpaceX popped on their first day trading on the Nasdaq, valuing the firm at around $2.1trn—and making its boss, Elon Musk, the world’s first trillionaire.

A federal judge extended a block on the creation of Mr Trump’s $1.8bn “Anti-Weaponisation Fund” for supposed victims of “lawfare”

Shares in SpaceX popped on the company’s first day trading on the Nasdaq, valuing the firm at around $2.1 trillion. Also, Pakistan’s prime minister, Shehbaz Sharif, said the final text for a peace deal between America and Iran had been reached.

Donald Trump claimed to have reached a “great settlement” with Iran, meaning Iran would never have a nuclear weapon. Also, SpaceX raised $75bn in the world’s biggest initial public offering.

Donald Trump said he cancelled planned strikes on Iran, hours after threatening them.

America’s president claimed “the highest level of Iranian leadership” had approved a potential deal. Also, Mr Trump nominated Jay Clayton, one of New York’s top federal prosecutors, to be the next Director of National Intelligence.

America said it launched new strikes on Iran, which Iran responded to by attacking American bases in Bahrain and Kuwait. Also, Donald Trump said he was not looking to renew the trade deal he struck with Canada and Mexico in his first term.