A U.S. Navy submarine fired a torpedo that sank an Iranian warship in the Indian Ocean on Tuesday night, Defense Secretary Pete Hegseth announced Wednesday, marking the first sinking of an enemy combatant vessel by an American submarine since World War II and dramatically widening the naval dimension of the ongoing U.S.-Israel campaign against Iran.

Hegseth, speaking at a Pentagon briefing, described the strike as targeting “an Iranian warship that thought it was safe in international waters.” He said the vessel was hit with a single torpedo, resulting in a “quiet death” for the ship. “Instead, it was sunk by a torpedo,” Hegseth stated, emphasizing the precision and reach of U.S. forces. The Pentagon released declassified footage showing the underwater explosion and the ship’s rapid sinking, though details on the specific submarine or torpedo model remained classified.

The targeted vessel was identified as the IRIS Dena, a Moudge-class frigate of the Iranian Navy’s Southern Fleet. The ship, with a crew of approximately 180, had been returning to Iran after participating in the MILAN 2026 multinational naval exercise in Visakhapatnam, India. Sri Lankan authorities reported the frigate issued a distress call early Wednesday off the southern coast near Galle. The Sri Lankan navy rescued 32 survivors, many seriously injured, and transported them to local hospitals. Reports varied on casualties: Sri Lankan officials cited around 140 missing, while Reuters and other sources reported at least 80 killed, with dozens wounded. Iranian state media has not yet confirmed the loss or casualty figures.

The incident occurred in international waters in the Indian Ocean, far from the Persian Gulf theater where most naval engagements have unfolded since the conflict began Feb. 28, 2026. U.S. officials framed the strike as part of broader efforts to neutralize Iran’s naval capabilities and prevent retaliatory attacks on international shipping or allied forces. Hegseth declared the Iranian navy “ineffective, decimated, destroyed,” adding that it “rests at the bottom of the Persian Gulf” after earlier U.S. strikes sank multiple vessels, including frigates like Jamaran-class ships and the drone carrier Shahid Bagheri.

The sinking represents a significant escalation. It is the first U.S. submarine torpedo kill against an enemy warship in 81 years, last occurring during World War II against Japanese and German vessels. The attack extends U.S. operations beyond the Middle East, targeting Iranian assets in distant waters amid Iran’s attempts to project power and disrupt global trade routes.

The conflict, now in its sixth day, has seen intense joint U.S.-Israeli airstrikes on Iranian military infrastructure, missile sites, command centers, and symbols of regime power in Tehran and elsewhere. Iran has responded with missile and drone barrages targeting U.S. bases in Qatar, Bahrain, Kuwait, and the UAE, as well as Israel and allies. Tehran has vowed to destroy regional military and economic infrastructure, while disrupting shipping through the Strait of Hormuz with threats, drone attacks, and unmanned surface vessels.

U.S. Central Command reported sinking 17 Iranian vessels overall, including corvettes, frigates, and support ships, in the Gulf of Oman and Persian Gulf since operations began. President Donald Trump announced “major combat operations” on Feb. 28, with more than 1,000 targets struck in the opening days. The campaign aims to degrade Iran’s retaliatory capabilities, including ballistic missiles and naval forces.

Sri Lanka’s foreign minister confirmed the rescue operation but provided no comment on responsibility for the sinking. Maritime security sources noted the area sees regular Iranian naval transits, but the strike’s location surprised analysts given its distance from primary conflict zones.

The incident has intensified global concerns over oil supply routes and shipping safety. Oil prices remained elevated Wednesday, with Brent crude near $84 per barrel amid fears of further disruptions. Markets reacted to the widening naval theater, though some analysts viewed the strike as targeted rather than a prelude to broader Indian Ocean operations.

Iran has not issued an official response to the sinking as of Wednesday afternoon, but state media focused on domestic resilience and vows of retaliation. The loss of the IRIS Dena, a relatively modern frigate equipped for anti-ship and air defense roles, further weakens Iran’s surface fleet, already battered by strikes on bases like Bandar Abbas.

Hegseth’s announcement underscored U.S. resolve. “The Iranian navy is no more,” he said, framing the action as evidence of America’s ability to project power globally. No U.S. casualties were reported in the operation.

As the war expands, focus remains on containing escalation while degrading Iran’s offensive tools. Diplomatic channels, including indirect contacts, continue amid calls for de-escalation, but both sides show no immediate signs of backing down.

The sinking of the IRIS Dena highlights the conflict’s naval reach and the risks to Iranian forces operating far from home waters. Rescue efforts by Sri Lanka continue, with hopes fading for additional survivors as search operations persist.

Q4: 2026-02-25 Earnings Summary

EPS of $2.33 beats by $0.47

 | Revenue of $973.54M (17.32% Y/Y) beats by $75.81M

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After years of anticipation and multiple delays, Pearl Abyss has confirmed “Crimson Desert” will launch worldwide on March 19, 2026, across PlayStation 5, Xbox Series X|S, PC via Steam, and macOS — marking the South Korean studio’s ambitious entry into the single-player open-world action-adventure genre.

The game goes live at 22:00 UTC (10 p.m. UTC), translating to 6 p.m. ET / 3 p.m. PT in North America, 11 p.m. CET in Europe, and 7 a.m. KST March 20 in Asia — a simultaneous rollout designed to unite players in the vast lands of Pywel from day one. Pre-downloads begin March 17, with review embargo lifting March 18, allowing critics to weigh in just before gates open.

Pearl Abyss announced the firm date in September 2025 during Sony’s State of Play, following a January 2026 “gone gold” milestone that locked in production. Originally revealed at Korea’s G-Star 2019 as a prequel to the studio’s hit MMORPG “Black Desert Online,” the title evolved into a standalone narrative-driven experience, shedding multiplayer elements for a focused solo campaign.

Players step into the boots of Kliff, a battle-hardened mercenary of the Greymane faction, resurrected after a brutal ambush by rivals the Black Bears. Tasked with rebuilding his crew amid civil war and otherworldly threats from the Abyss — a mystical realm of floating islands and ancient tech — Kliff navigates Pywel’s unforgiving landscapes, forging alliances, managing resources, and unleashing visceral combat.

Recent hands-on previews paint a picture of a “maximalist” open world rivaling “The Witcher 3” and “Red Dead Redemption 2” in density. IGN’s final preview highlighted quirky side quests like chimney cleaning or sheep rescues, faction missions for loot, and a lived-in feel with interactive NPCs — greet or rob them at your peril. Combat shines as “brutal and intuitive,” blending swordplay, parries, grabs, and Abyss-fueled powers like force manipulation for puzzles and aerial takedowns.

PlayStation Blog’s four-hour session in starter region Hernand emphasized liberation mechanics: clear outlaw camps to unlock fishing, trading, and puzzles. Exploration rewards abound — climb ruins, glide with stamina-based tools, summon horses — across biomes from bustling towns to Abyss floating isles. DualSense haptics amplify clashes, adaptive triggers tense bowstrings, and PS5 Pro optimizations promise 4K ray-traced glory.

No rigid classes: learn skills by observation, even mid-boss, swapping weapons from swords to spears. Party members like tanky berserker Oongka add variety, while Abyss Artifacts grant temporary magic edges against overwhelming foes. Previews praise the scale — “enormous” yet seamless — but note menu complexity may overwhelm newcomers.

Three editions cater to fans: Standard (full game, ~$60-70) includes pre-order Khaled Shield; Deluxe adds SteelBook, map, pins, patches, and cosmetics like Balgran Shield, Kairos Plate Set, Exclaire Horse Tack (~$100+); Collector’s Edition bundles a 17x11x10 diorama, Ultimate Pack weapons (Tormented Soul Bow, etc.), and more — limited stock flying off shelves. PS5 pre-orders snag exclusive Grotevant Plate armor set. Black Desert players get crossover bonuses.

Pearl Abyss CEO D.J. Kim hailed the milestone: “The fight for Pywel begins.” Marketing director dismissed console performance jitters — “I’m sick of repeating myself, we’re not hiding anything” — as Digital Foundry preps launch analysis.

Social buzz peaks: X posts hype the “Skyrim successor” potential, though some eye optimization. Pre-orders surge on Steam, PlayStation Store; physical copies via retailers like Amazon.

From 2020 target to 2026 reality, “Crimson Desert” embodies Pearl Abyss’ evolution post-“Black Desert” success. With no microtransactions in sight, it bets on depth over live-service grind. As March 19 nears — two weeks away — analysts forecast strong sales in a crowded RPG field alongside “WWE 2K26,” “Life is Strange: Reunion.”

Will Pywel captivate? Previews suggest yes: a “grand-scale” epic blending western grit and eastern flair. Kliff’s saga awaits.

Shares of ImmunityBio Inc. (NASDAQ: IBRX) tumbled nearly 10% in heavy trading Wednesday, reflecting profit-taking after a strong run earlier in the week and broader market caution amid ongoing volatility in biotech stocks.

The stock closed at $9.02 on March 4, 2026, down $0.98 or 9.85% from Tuesday’s close of $10.00. Intraday trading saw the price range from a low of $8.93 to a high of $9.59, with volume exceeding 16.5 million shares — solid but below the 35 million-plus average seen in recent sessions. After-hours trading showed modest recovery attempts around $9.01-$9.10.

The pullback followed a volatile period: the shares surged to $10.44 on March 2 amid momentum from positive clinical updates, then eased to $10.00 on March 3 after the company’s full-year 2025 earnings release. Year-to-date in 2026, IBRX has more than quintupled from early lows around $1.83, driven by commercial traction for its flagship therapy ANKTIVA and advancing regulatory milestones.

ImmunityBio reported full-year 2025 results on March 3, highlighting a dramatic 700% year-over-year increase in net product revenue from ANKTIVA (nogapendekin alfa inbakicept-pmln), the IL-15 superagonist approved in April 2024 for BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (CIS). The company expanded ANKTIVA approvals to additional indications, including lung cancer in select markets, and secured commercial partnerships in 33 countries with ongoing label expansion efforts globally.

Analysts responded positively, with Piper Sandler reiterating an Overweight rating and raising its price target to $15, citing strong sales momentum and regulatory progress. Consensus views lean toward “Strong Buy,” with an average 12-month target around $12.60 to $13.06, implying 30-40% upside from current levels. Some forecasts project highs up to $23-$25 if key milestones are met.

Key pipeline advances bolster the outlook. On Feb. 26, 2026, ImmunityBio announced completion of enrollment in the pivotal QUILT 2.005 randomized trial evaluating ANKTIVA plus BCG versus BCG alone in BCG-naïve NMIBC CIS patients. The study enrolled 366 patients ahead of schedule, with an interim analysis requested by the FDA showing statistically significant improvement in duration of complete response for the combination arm and no major safety issues. Full results are expected in Q4 2026, paving the way for a potential Biologics License Application (BLA) submission by year-end to expand ANKTIVA into the first-line setting.

The company also continues discussions with the FDA on a potential resubmission of its supplemental BLA for ANKTIVA in BCG-unresponsive papillary NMIBC. Following a January 2026 Type B End-of-Phase meeting, the agency requested additional supporting information but no new clinical trial. ImmunityBio compiled and planned to submit the data within 30 days, aiming to address prior refuse-to-file concerns without restarting studies.

An expanded access program for recombinant BCG remains active, with over 580 patients enrolled across the U.S., addressing supply shortages and supporting real-world evidence.

Despite the positive momentum, challenges persist. ImmunityBio reported ongoing net losses typical for a clinical-stage biotech, though revenue growth signals commercial viability. Cash position and burn rate remain focal points for investors, with the company emphasizing disciplined capital allocation toward pipeline advancement and global commercialization.

The stock’s 52-week range spans $1.83 to $12.43, with recent highs reflecting optimism around ANKTIVA’s potential to disrupt bladder cancer treatment landscapes — a market with significant unmet needs for durable responses beyond standard BCG therapy.

Market cap hovered near $9-10 billion following the dip, with about 1.03 billion shares outstanding. High short interest and retail investor interest have contributed to volatility, though recent trading has shown more stability tied to fundamentals.

As ImmunityBio eyes Q4 2026 data readouts and potential BLA filings, analysts watch for execution on manufacturing scale-up, partnership expansions, and additional indications. The biotech sector’s sensitivity to interest rates, regulatory timelines, and broader economic factors adds near-term uncertainty, but the company’s progress positions it as a notable player in immunotherapy.

Investors remain divided: bulls see multi-billion revenue potential if ANKTIVA secures broader approvals, while bears caution on competition and execution risks. For now, Wednesday’s decline appears more technical than fundamental, with many viewing the dip as a potential entry point amid the stock’s transformative trajectory.

Buying an engagement ring is one of the most meaningful decisions you will ever make. It represents commitment, love, and a future together — which is why choosing the right jeweller matters just as much as choosing the ring itself.

For generations, couples have visited Hatton Garden, London’s historic jewellery district, known for its exceptional craftsmanship and diamond expertise. However, with so many retailers in one area, identifying the right professional can feel overwhelming.

Why Reputation Matters

When beginning your search, reputation should be your first consideration. Experienced jewellers build trust over time through consistent quality, honest advice, and excellent customer service. Reading detailed reviews and testimonials can give you insight into how previous clients felt about their experience. Did the jeweller take time to explain the process? Were they transparent about pricing? Did they offer guidance without applying pressure?

Choosing from among trusted Hatton Garden jewellers means looking beyond flashy displays and focusing instead on credibility, heritage, and long-term customer satisfaction. A well-established presence in the area often reflects reliability and dedication to craftsmanship.

Transparency and Diamond Certification

A reputable jeweller will always prioritise transparency. This includes providing recognised certification for diamonds and clearly explaining the grading process. Understanding the cut, colour, clarity, and carat weight ensures you know exactly what you are investing in.

Clear communication about pricing is equally important. Rather than presenting a figure without explanation, a professional jeweller will walk you through the value of the stone and the design. This openness builds confidence and allows you to compare options fairly as you explore different engagement ring styles in Hatton Garden.

Considering Modern Diamond Options

In recent years, many couples have explored alternatives to traditionally mined stones. The growing demand for lab grown diamond engagement rings in London reflects a shift towards ethical sourcing and sustainability. These diamonds are visually and chemically identical to natural stones, offering the same brilliance while often being more budget-friendly.

A knowledgeable jeweller will explain the differences between natural and lab grown diamonds in a balanced and informative way. The goal should always be to help you choose a ring that aligns with your values, preferences, and budget — not to steer you in one direction unnecessarily.

The Value of Craftsmanship and Bespoke Design

One of the greatest benefits of choosing Hatton Garden engagement rings is the direct access to highly skilled artisans who specialise in bespoke jewellery creation. Rather than selecting a mass-produced design, couples have the opportunity to shape every detail of their ring, from the choice of setting to the finer elements that give it individuality and character.

Exceptional craftsmanship is about far more than visual appeal. A well-made ring is carefully constructed to ensure strength, balance, and lasting comfort for everyday wear. When you sit down with an experienced jeweller to explore design ideas and examine diamonds up close, the process becomes both personal and reassuring. This level of attention not only enhances the final result but also makes the journey of creating the ring just as special as the proposal itself.

Aftercare and Long-Term Support

An engagement ring is worn every day, so ongoing care is essential. Resizing, cleaning, and maintenance services are important factors to consider before making a purchase. A jeweller who offers reliable aftercare demonstrates confidence in their work and commitment to long-term customer relationships.

Choosing the right jeweller ultimately comes down to trust, transparency, and expertise. By focusing on reputation, quality, and personalised service, you can feel confident that your engagement ring will be both beautiful and enduring, a true symbol of your commitment, crafted with care in one of London’s most respected jewellery destinations.