Hegseth said the U.S. naval blockage in Iran is “impenetrable” and 125 million barrels of oil have now exited the Gulf, “showing that we control the strait.”

20,000 layoffs, 14 markets exited, one flatter bank—Jane Fraser’s Citi playbook is working. Wall Street wants to know what’s next.

Around 41% of employees say their companies trimmed management layers last year, according to Korn Ferry.