debuts

The MQ-28 Ghost Bat drone will gain a valuable opportunity to prove its relevance in a high-end coalition environment as part of Valiant Shield 26, the sprawling U.S.-led military exercise spanning Japan, Guam, Hawaii, and Australia, which began this week. It is also, as far as we know, the first time that the MQ-28 has taken part in a multinational large-force exercise of any kind. The participation of the collaborative combat aircraft (CCA) comes soon after Boeing confirmed it was conducting a separate series of test flights of the drone off the coast of southern California, part of efforts to validate autonomous operations and demonstrate rapid deployment from an allied location.

While Australia’s contribution to Valiant Shield includes a P-8A Poseidon maritime patrol aircraft and around 80 personnel, one of the more notable aspects is the involvement of Australian Defense Forces (ADF) aviator observers alongside a U.S.-led MQ-28 component. The arrangement will allow Australian personnel to work with operators and planners as the uncrewed aircraft is employed in a complex, multi-domain operational environment for the first time.

Directed by the U.S. Indo-Pacific Command, Exercise Valiant Shield 2026 kicked off on Monday and continues through July 1.

“Valiant Shield demonstrates our enduring commitment to a free and open Indo-Pacific,” Adm. Steve Koehler, commander of U.S. Pacific Fleet, said in a media release. “Exercising advanced multidomain capabilities with our allies ensures we continue to seamlessly innovate and operate together, project combat power together, and prevail over any challenge — together.”

The U.S. Air Force today released a series of photos showing an MQ-28 taking part in Valiant Shield. The drone was photographed at Rota, in the Northern Mariana Islands, on June 21. Accompanying captions state that the Ghost Bat will be used to advance human-machine teaming, including flying in concert with crewed fighters.

“The Department of the Air Force and its partners will analyze the aircraft’s contribution as a force multiplier that extends the reach, awareness, and survivability of crewed platforms in contested environments,” the U.S. Air Force adds.

The MQ-28 involved in the exercise is configured with an infrared search and track (IRST) sensor system in the nose. The Ghost Bat is a highly modular design, with the nose section designed to be readily swappable.

The Ghost Bat’s participation in Valiant Shield comes as Australia continues efforts to mature collaborative combat aircraft concepts, an increasingly important component of future air warfare, with the Royal Australian Air Force (RAAF) currently very much at the forefront. Designed to operate alongside crewed fighters and other assets, like tankers and airborne early warning and control aircraft, the MQ-28 is intended to extend sensor coverage, serve as a weapons platform, and perform a variety of other missions while reducing risk to human pilots.

Valiant Shield offers a particularly relevant proving ground for the MQ-28. The exercise brings together forces from the United States, Australia, Japan, Canada, and New Zealand to train in responding to coordinated threats across the maritime, air, land, cyber, and space domains. Participants will be required to detect, track, and engage shared threats while operating across a vast geographic area and under realistic conditions.

For the Ghost Bat program, exposure to this type of coalition environment is significant. Future conflicts in the Indo-Pacific will require seamless integration between allied forces, crewed aircraft, and increasingly sophisticated autonomous systems. Observing how the MQ-28 is incorporated into a large-scale multinational exercise should provide valuable insights as Australia moves toward making its collaborative combat aircraft capabilities operational. Currently, the MQ-28 is slated to be in service with the RAAF in 2028, which would likely make it the first operational CCA anywhere in the world.

The exercise also reflects growing allied interest in integrating uncrewed systems into complex command-and-control architectures and air defense networks. As autonomous aircraft move from experimentation toward operational service, events such as Valiant Shield are becoming important venues for testing how these systems contribute to the broader fight rather than operating as standalone assets. Valiant Shield has served as a diverse test crucible in recent years, with advanced capabilities being put through their paces in a realistic, joint-force environment.

According to defense reporter Carter Johnston, the Ghost Bat’s Indo-Pacific deployment will include operations from an austere airfield led by the U.S. Air Force. This will be conducted under the Agile Combat Employment (ACE) concept, something that is seen as fundamental to survival in a future conflict with China in the Indo-Pacific region. It is also notable that the U.S. Air Force’s new CCA drones are being developed from the ground up around concepts for distributed and disaggregated operations.

The exact status of the MQ-28 with the U.S. military testing community is somewhat unclear, as we have discussed before. There have been indications of Ghost Bat flight testing in the United States in the past, and the U.S. Air Force previously said it had made use of at least one MQ-28 to support advanced uncrewed aircraft and autonomy development efforts. Regardless, the Air Force, at least, has test units set up to explore exactly how to use CCAs operationally, including in an ACE-type environment. This kind of testing is now also involving the first two Air Force Increment 1 CCAs, with the YFQ-44 Fury ‘fighter drone’ prototype notably having been tested out of Edwards Air Force Base, California, helping to demonstrate how CCAs can be deployed and sustained in contested environments.

Other U.S. participants in Valiant Shield 2026 include the George Washington Carrier Strike Group, based around the aircraft carrier USS George Washington with the embarked Carrier Air Wing 5, the cruiser USS Robert Smalls, and the destroyers USS Benfold and USS Shoup.

Valiant Shield 2026 will also see the deployment of the containerized Typhon missile system in Japan. According to the Japan Ministry of Defense, the Typhon and the High Mobility Artillery Rocket System (HIMARS) will participate in Joint Integrated Anti-Ship Warfare training carried out in the waters around Kanoya and Amami Oshima Island. However, no live firing is scheduled.

The U.S. Army’s Typhon was first deployed to Japan last year, as you can read about here. The system, which can fire Tomahawk cruise missiles and SM-6 multi-purpose missiles, is a growing feature of U.S. military activities in the wider Indo-Pacific region.

Returning to the Ghost Bat, it now seems that the test flights of the MQ-28 off the coast of southern California from the U.S. Navy’s base in Point Mugu, California, were an important precursor to Valiant Shield. In fact, the same drone that was flown out of Point Mugu, ATS-008, is the example now involved in Valiant Shield.

Boeing had previously said its main goals of those flights were to demonstrate the maturity of the design and promote export sales. As we noted at the time, the choice of testing location also seemed to be relevant given Boeing’s involvement in the Navy’s still-evolving carrier-based CCA plans.

As for the MQ-28’s previous test campaigns, the drone has been flying in Australia since 2021, with the RAAF having received eight Ghost Bats in the pre-production Block 1 configuration.

Boeing is now building the first of a batch of nine Block 2 drones for the RAAF, which will provide an intermediate stepping stone to the fully operational Block 3 version. The Block 3 aircraft is expected to be substantially larger and have a greater range. It will also feature an internal weapons bay that can accommodate a single AIM-120 Advanced Medium Range Air-to-Air Missile (AMRAAM), two GBU-39/B Small Diameter Bombs (SDB), or equivalently sized stores.

The RAAF has employed Block 1 MQ-28s to demonstrate some important capabilities in testing so far. This includes crewed-uncrewed teaming with RAAF E-7A Wedgetail airborne early warning and control aircraft and F/A-18F Super Hornet fighters.

When it comes to potential export sales, participation in Valiant Shield will give Japan, Canada, and New Zealand a closer look at the drone and its capabilities. Of these, Boeing has already publicly named Japan as a potential customer and has said it is exploring potential opportunities with other unnamed countries in the Indo-Pacific region.

Valiant Shield should offer the clearest indication yet of how the Ghost Bat can contribute to a coalition fight. As the United States and its allies increasingly embrace autonomous combat aircraft, the MQ-28’s performance in one of the Indo-Pacific’s largest and most complex military exercises will be watched closely as an indicator of how collaborative combat aircraft could be employed across the region in the future.

Contact the author: thomas@thewarzone.com

SpaceX lands on public markets as the sixth largest US company by market value.

SpaceX has debuted on US markets with a market valuation of more than $2 trillion, minting CEO Elon Musk as the world’s first trillionaire.

Shares are set to open on Friday at $150 per share, marking a 6.6 percent increase from the initial public offering (IPO) price, valuing the company at $1.96 trillion putting the aerospace company on track to become the sixth-largest company in the United States.

The company sold $75bn in shares, immediately valuing it at $1.77 trillion. The IPO was oversubscribed four times higher than was otherwise expected, according to the Reuters news agency.

Of the institutional investors allocated, according to Bloomberg News, as much as 70 percent went to what are called long-only investments — a strategy in which holders buy assets based on the expectation that their value will grow over time — and sovereign wealth funds, including those from Saudi Arabia and Kuwait as well.

SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the Nasdaq MarketSite in New York City opening bell at 9:30am local time as US markets opened.

On Thursday, protesters gathered outside the MarketSite to protest the IPO amid continued allegations that Grok, part of xAI, a subsidiary of SpaceX, allowed users to create non-consensual deepfake sexualised images before the IPO debut.

Shares of SpaceX did not trade until the middle of the trading day as the exchange collected buy and sell orders and underwriters delayed trading until supply and demand were balanced.

“We would expect SpaceX to see an immediate pop in trading due to the hype around the deal, north of 20 percent perhaps,” said Samuel Kerr, global head of equity capital markets at Mergermarket. “Anything lower would actually make me nervous.”

Exchanges and trading firms are eager to avoid the technical mishaps that marred Meta’s 2012 debut. With SpaceX widely viewed as a dress rehearsal for a new generation of mega-listings, market participants will also be watching for signals on investor appetite in advance of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.

The landmark listing cemented Musk’s status as the first trillionaire ever and propelled SpaceX into the ranks of the world’s most valuable companies — even though the firm posted a loss of nearly $5bn last year and generated only a fraction of the revenue brought in by similarly valued tech giants.

The surge comes amid growth driven by its Starlink subsidiary, which drives as much as 80 percent of its revenue.

On Friday, SpaceX launched its Falcon 9 rocket with 29 satellites into space from Cape Canaveral in Florida.

Coronation Street spoilers for next week’s episodes have teased lots of drama, discoveries and a new arrival on the ITV soap, with new romance, and some shocking news

There’s some big moments ahead next week on Coronation Street, spoilers have revealed.

Will’s shocked as Sam confronts him, before Will overhears a heartbreaking admission from Ben. Will climbs high up on the shop yard scaffolding, swigging vodka as Megan watches on, but can Maggie talk him down?

George and Christina attempt to bury the hatchet with Todd, while Tracy speculates Danielle is guilty of Theo’s murder. When Todd refuses to attend Theo’s funeral, Danielle accuses him of being the killer, only for Ryan to drop an admission about Danielle.

Ryan tells Lisa what he knows, and Danielle is taken in for questioning. Leanne gives Dylan and Betsy a trial shift at Speed Daal but explains there’s only one vacancy.

READ MORE: Emmerdale summer spoilers: Caleb’s revenge on Joe, stunt horror and two arrivalsREAD MORE: Coronation Street spoilers: Megan’s comeuppance, Carl’s fate and Jodie’s sad past

Idris arrives, and deals with a situation at the restaurant, while Adam takes an instant dislike to him. Soon, it’s revealed Idris is hiding something. Idris invites Leanne for a drink, but Alya is unhappy to find out they’ve kissed.

Daniel tells Ken that Bertie’s being bullied, as he’s determined to identify his troll. As the police get involved, Jodie tells Daniel it seems the troll has stopped posting, but Daniel is soon ambushed.

Sarah is struggling without Kit and Todd takes a call only to receive some shocking news. Jodie loses her job at the café, and Hope gets closer to Will.

It comes as fans speculated Summer Spellman is not the killer of Theo Silverton. As Monday’s episode heavily hinted she was to blame, she became the prime suspect.

Many fans do not think she did kill him though, and that someone else carried out the crime. While some added that she could be covering for this person, it’s yet to be revealed just how involved Summer is.

Fans think it was Sam Blakeman who killed Theo by accident though. With him experiencing hallucinations and possible psychosis, fans think he might have killed Theo thinking he was Will. A fan posted online: “I’m saying Sam.”

Another viewer posted: “I think Sam killed Theo during one of his mental health breakdowns.” A third fan added: “I think Sam pushes Theo (thinking he was Will), and Summer is covering for him.”

Sharing a similar theory, another fan posted: “Was that scene of Sam hallucinating with the view of the scaffolding an hint to him being the killer of Theo thinking he was Will?” A fan then wrote: “I really think Sam killed Theo.” The suggestion kept on being shared online, as one said: “I think Sam pushed Theo off the scaffolding while he was in a deluded state of mind maybe thinking it was Will.”

Coronation Street airs weeknights at 8:30pm on ITV1 and ITV X. * Follow Mirror Celebs and TV on TikTok , Snapchat , Instagram , Twitter , Facebook , YouTube and Threads .

Uzbekistan’s National Investment Fund, known as UzNIF, began trading on the London Stock Exchange on Monday, marking the country’s first international equity offering.

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The fund, which is managed by Franklin Templeton, also launched simultaneously on the Tashkent Stock Exchange through a dual listing structure, bringing Uzbek state-linked assets to international equity markets for the first time.

The opening ceremony at the London Stock Exchange brought together executives, investors and Uzbek officials, with speakers presenting the listing as a significant step in the country’s efforts to expand access to international capital markets.

First international equity offering

Speaking during the ceremony, Julia Hoggett, Chief Executive Officer of the London Stock Exchange, described the IPO as “the first ever international IPO out of Uzbekistan” and said the transaction could help “more global investment to flow” into the country’s economy.

Hoggett also said the dual listing marked “a new chapter both in London and in Tashkent”, adding that the offering connected international investors with a portfolio of Uzbek companies through a single fund managed by an international asset manager.

Saida Mirziyoyeva, Head of the Administration of the President of Uzbekistan, said Uzbekistan was preparing “new listings” and expanding private sector participation, while also working on plans linked to the proposed Tashkent International Financial Centre.

Speaking from the London Stock Exchange balcony, Mirziyoyeva said the IPO was “not just about raising capital” but also about “building trust in a new generation of Uzbek institutions”.

Jenny Johnson, President and Chief Executive Officer of Franklin Templeton, described the IPO as “a defining and historic milestone” for both Uzbekistan and Franklin Templeton, saying the transaction had generated more than $2.8 billion in investor demand globally.

Johnson said orders exceeded the initial offering by more than four times during the bookbuilding process, which ran from late April to mid-May. She added that the domestic offering in Tashkent had become the country’s “largest local listing to date”, allowing local investors to participate alongside international institutional funds.

International investors and state assets

Thirty percent of the fund’s shares were offered internationally through global depositary receipts, while part of the allocation was also made available to domestic investors through the Tashkent Stock Exchange.

According to previously released information from the fund and its advisers, international demand reached around $2.9 billion (€2.6bn), with more than 160 institutional investors participating in the offering. Among them were BlackRock, Franklin Templeton and Redwheel.

The IPO raised approximately $603.6 million (€540m), valuing the fund at around $1.95 billion (€1.74bn) at the offer price. The shares were sold by Uzbekistan’s Ministry of Economy and Finance, meaning the proceeds from the transaction will go to the state rather than directly to the fund itself.

The international tranche included more than 23 million global depositary receipts, or GDRs, listed in London under the trading symbols UZNF and UZ20. One GDR represents 64,700 shares in the fund.

Cornerstone investors, including funds and accounts managed by BlackRock, Franklin Resources and Redwheel, as well as treasury companies linked to the Allan & Gill Gray Foundation, committed a combined $300 million (€268m) to the offering.

UzNIF was established in 2024 under a presidential decree and is managed by Franklin Templeton, the US-based investment company that oversees more than $1.4 trillion (€1.25 trn) in assets globally and operates in more than 150 countries.

The fund’s portfolio includes stakes in 13 state-linked companies operating in sectors considered strategic for the Uzbek economy, including electricity distribution, thermal power generation, hydropower, telecommunications, aviation, rail infrastructure, utilities and banking.

Among the companies included in the portfolio are Uzbektelecom, Uzbekistan Airways, Uzbekhydroenergo and several state energy and infrastructure operators.

The listing also reflects broader efforts to develop domestic capital markets in Uzbekistan and increase participation from local investors alongside international institutions.

If you were to go by “Saturday Night Live” hosting performance alone, you might think that the best way to ensure a memorable, well rounded and surprisingly funny show is to book a female pop star — preferably one with some child-acting experience.

With apologies to Harry Styles, it’s been pop stars including Ariana Grande, Sabrina Carpenter, Dua Lipa and now Olivia Rodrigo who’ve shown themselves to be naturals at adapting their on-stage talents to the Studio 8H stage for “SNL.”

And while she might not have crushed it to the degree of Grande (something about the Bowen Yang era of the show and Grande seemed in perfect lockstep with each other), Rodrigo was a very good host. Whatever she lacked in sketch comedy chops, she more than made up for as musical guest, world-premiering a new song called “begged,” and singing in several sketches, including a memorable one about a girl in a zoo on a planet of bug people (we’ll get to that).

After a charming monologue in which she also sang, Rodrigo played a scheming woman in a “Dynasty”-like nighttime soap opera from the 1980s, “Edge of Destiny,” where people kept falling down the stairs. The mix of physical comedy, distant cue cards and having to keep from breaking character as cast members flopped down a set of fake stairs seemed almost too much for the guest host. But she recovered nicely in another solid (and hilariously gross) “Shop TV” sketch about a baker (Rodrigo) who makes lava cakes that look a lot like anuses.

She also played a woman competing with her ex-boyfriend (Ben Marshall) at a birthday party by pretending to have a date (he does the same with a wacky Ashley Padilla). She also played a cheating romantic partner in a musical sketch about getting busted, a rideshare passenger whose driver (Andrew Dismukes) discovers he has a talent for Jamaican dancehall rapping, and a TikToker employed by a home security company to take viral videos of burglars.

Rodrigo’s songs were tremendous, especially “begged,” but it was hard for any of the sketches to top Aziz Ansari’s appearance as FBI Director Kash Patel, which drew the biggest non-musical audience reaction of the show when he appeared in the cold open.

As musical guest, Rodrigo performed her latest single “drop dead,” introduced by Debbie Harry, and a new song, “begged,” introduced by recent host and “Heated Rivalry” star Connor Storrie.

It was the rare cold open without a rambling James Austin Johnson performance as President Trump. Instead, after a clever opening title card (“You’re watching A-Span. Of your life disappear. Watching C-SPAN.”), White House press secretary Karoline Leavitt (Padilla) talked about her upcoming maternity leave before introducing “The man, the myth, the liability,” Secretary of Defense Pete Hegseth (Colin Jost). Hegseth talked about the war in Iran with its “sick air raids. This war has been a movie … specifically ‘The Neverending Story.’ ” Hegseth fielded a few questions, belittling reporters as he’s done before, answering the question of when the war will end: “That’s like asking when is sex gonna be over,” he replied, “Answer: when the man is done.” Hegseth introduced Patel (Ansari), who fast-talked his way through a defense of his alleged drinking and spending. From low hanging fruit (“We dotted every T and bulged every I”) to a much sharper takedown of Patel (“I’m the first Indian person to suck at their job”), Ansari brought his Tom Haverford from “Parks and Recreation” energy, particularly when describing jumping on the couch at a night club screaming, “Who wants the nuclear codes? J/K, I ain’t got ‘em!”

Rodrigo’s monologue began by acknowledging how young the 23-year-old pop star really is: they say your favorite “SNL” cast is the one you saw when you were a teenager and hers, she said, was the current cast. After teasing her new album out next month, she showed a clip of a commercial she did for Old Navy and mentioned working with Jake Paul on the Disney Channel show “Bizaardvark.” Paul, she said, once told her, “I really want to beat up old guys on Netflix!” and they both achieved their dreams. Rodrigo then played at a piano a take of her first hit single “drivers license,” focused on getting a Real ID at the DMV and all that it requires. “Passport, W2, first-born son / Gas bill, body count, bra size, how long will this be? I’ll just use my old fake ID,” she sang.

Best sketch of the night: They even have Olivia-shaped popsicles!

Unsurprisingly, the best of the night was one of Rodrigo’s musical performances, this time a pre-taped music video about a girl who loves her perfect bedroom. It’s got a purple corded phone, a lava lamp, a beanbag chair … and it happens to be a habitat at a zoo on a planet of bug people. The wistful, lovely song is accompanied by weird visuals of the aliens, who look like praying mantises, admiring the human specimen through the room’s windows, applauding when she goes to the bathroom and taking pictures. There are enough bizarre touches, such as a VHS version of “A League of Their Own” with aliens in human skin suits, a bug protester and an unsuccessful male mate (Johnson), that quite a bit of world building happens in the short span of the very catchy tune. Can we get this song on Apple Music and Spotify, please?

Also good: Cute — cake frosting on the nose. Sexy — mashed potatoes all over the face.

Former “SNL” cast member Kristen Wiig had a talent for introducing characters whose one bizarre trait, expertly performed, could drive a whole sketch. These days, it’s Ashley Padilla (maddeningly, she’s still billed as a “Featured Player”) who is able to elevate a potentially annoying character with a collection of hilarious tics and a lot of boundary overstepping. In a sketch about a broken-up couple (Rodrigo and Marshall) who try to make each other jealous by glomming on to fake new dates, Padilla laughs too loudly, smears mashed potatoes all over Marshall’s face, gives an unhinged speech that includes, “We are to be married at midnight! Now let us pray.” It seems like every episode of late has had one sketch reserved for Padilla to show her way with these types of self-unaware characters, and this was another great showcase for her.

‘Weekend Update’ winner: Podcasters are at war and it’s hard to understand why

If you don’t know why “Call Her Daddy” podcaster Alex Cooper (Chloe Fineman) and TikToker and “Hot Mess” podcaster Alix Earle (Veronika Slowikowska) are feuding, trust us, you are not alone. Their apparent beef, which has been speculated about by very online people and, weirdly, business reporters, is now “Weekend Update” fodder, with the women comparing their fight to a “literal Chernobyl for white women.” Perhaps the best part was Michael Che’s complete bafflement as to who these women are and why they’re mad at each other. Elsewhere, Kam Patterson continued his streak of clunky “Update” segments, this time vying for a date with Megan Thee Stallion after her breakup with NBA player Klay Thompson. In describing himself, Patterson said, “Some say he’s finding his voice more every week.” Unfortunately for Patterson, there’s only two episodes left in the season.