Iran War & Energy Crisis
Oil surges to four-year high as Trump eyes extended Iran blockade Brent crude briefly touched $126 a barrel overnight before pulling back, with both contracts up about 60% since the U.S.-led war against Iran began in February. Trump has discussed with oil companies how to cushion the impact of a months-long blockade of Iranian ports. — Quartz · BBC · France 24
Pentagon estimates Iran war has cost $25 billion The Pentagon says the war with Iran has cost $25 billion so far. Defense Secretary Pete Hegseth faces sharp criticism in Congress over launching the conflict without approval, with Democrats condemning the war’s justification and cost. — NPR · France 24
Hegseth faces further grilling as Khamenei issues threats Iran’s supreme leader said foreigners have no place in the Gulf “except at bottom of its waters,” as the defense secretary faces continued Senate questioning over war costs. Trump rejected Iran’s proposal on the Strait of Hormuz, leaving negotiations at an impasse. — The Guardian · France 24
Will the Iran war reshape the global energy order? As oil markets shift, OPEC’s grip is under pressure, US exports rise, and China drives the push towards renewables. — Al Jazeera
Iran war tests India’s BRICS leadership BRICS’ inability to speak with one voice on the Middle East conflict has become a test of India’s leadership, exposing the challenge of building consensus among its 10 members. The bloc could not agree on a common position at a recent meeting in New Delhi. — SCMP
Economy & Central Banks
Eurozone inflation soars to 3% as Iran war drives up energy prices Consumer prices rose by 3% in the year to April across the eurozone, up from 2.6% in March and 1.9% in February, as the ECB interest rate decision looms and growth stumbles. — The Guardian
Bank of England keeps rates on hold at 3.75% The BoE voted to keep its key interest rate on hold at 3.75% as the Iran war shakes the economic outlook. Rising fuel prices could force excruciating choices on economic policy. — CNBC · NYT
Merck beats earnings estimates as Keytruda sales surge 12% The drugmaker posted $16.29 billion in quarterly revenue, topping Wall Street forecasts, though a big acquisition charge pushed it to a net loss. — Quartz
S&P 500 futures rise after blockbuster tech earnings S&P 500 Index futures rose 0.4% in premarket trading after a blockbuster slate of technology earnings. — Bloomberg
UK: Golders Green Attack
Stabbing suspect was referred to Prevent scheme in 2020 The suspect in the Golders Green double stabbing — a 45-year-old British national born in Somalia — was referred to the Prevent counter-extremism scheme in 2020, but his case was closed within six weeks. Two men were stabbed outside a synagogue in north London. — The Guardian · France 24
Starmer demands ‘swift, agile and visible’ response The Prime Minister said “an attack on our Jewish community is an attack on all of us” as he convened a meeting in Downing Street with agencies and ministers. — The Guardian · France 24
US Politics & Law
Supreme Court guts key section of the Voting Rights Act The Court ruled that Louisiana’s 2024 election map was “an unconstitutional racial gerrymander,” gutting a major provision of the 1965 Voting Rights Act intended to prevent racial discrimination in voting. — The Guardian · NPR
US indicts Mexican state governor over drug trafficking The DOJ charged Sinaloa governor Rubén Rocha Moya with drug trafficking — a rare move against a sitting foreign official who could face life in prison. Mexico’s cartel crackdown also saw the arrest of a potential next leader of the Jalisco New Generation cartel found hiding in a drainage pipe. — France 24 · The Guardian
Eric Trump disappears from troubled fintech’s public leadership Eric Trump has been removed from the public leadership of a small Las Vegas-based company closely tied to his family’s crypto firm, World Liberty Financial. — Bloomberg
Europe & Transatlantic
Merz calls for ‘reliable transatlantic partnership’ after Trump threatens troop reduction German Chancellor Friedrich Merz stressed links with the US and NATO during an army visit, without directly responding to Trump’s overnight comments threatening to reduce US troops in Germany. — The Guardian
Trump and Putin talk, and Ukraine shrugs More than a year of similar conversations have failed to bring Ukraine any closer to peace, so Ukrainians have stopped hoping they will. — NYT
Farage did not need to declare £5m donation as it was ‘private’, claims Braverman Former Tory home secretary turned Reform UK education spokesperson defended party leader Nigel Farage over an undeclared gift. — The Guardian
Africa
Mali crisis deepens as separatists and jihadists step up attacks Mali’s military launched strikes on Kidal after separatist fighters claimed control, while jihadist group JNIM announced a blockade of roads into Bamako. Russia rejected Tuareg rebels’ call to withdraw its forces. — France 24 · France 24
Somalia shapes its own destiny in global security forums New roles at the UN and African Union mark a shift for Somalia from being the subject of decisions to helping shape them. — Al Jazeera
Climate & Environment
Colombia climate talks end with hopes raised for fossil fuel phaseout Nearly 60 countries backed voluntary roadmaps to wean the world off coal, oil and gas at a landmark conference prompted by frustration with UN climate summits. — The Guardian
Food sovereignty and global security intertwined Geopolitical instability is exposing the deep entanglement between energy, food systems, and global security, according to the Center for International Environmental Law speaking from a summit in Colombia. — France 24
Tech & Business
SoftBank plans US IPO for AI and robotics spinout valued at $100 billion The new entity, called Roze, would focus on building data centers using autonomous robots and could list as early as this year. — Quartz
Humanoid robots being trialled as airport workers in Japan Japan Airlines says it will trial humanoid robots as workers at Tokyo’s Haneda Airport. — Al Jazeera
Lawyers warn AI legal advice comes with serious risks Asking ChatGPT how to divide your fortune or design a prenup can be used against you in court, lawyers to the wealthy warn. — CNBC
Asia-Pacific
Missing Indigenous girl in Australia found dead after 5-day search Police are seeking a man who was last seen holding hands with the five-year-old girl on Saturday night near Alice Springs. — NYT
China’s US experts ‘falling short in great power game’ Chinese scholars must sharpen their focus on the internal conflicts reshaping the United States, including shifts in political culture and heightened racial tensions, according to a prominent academic. — SCMP
Culture
Banksy signature appears on London statue of man marching blinded by flag The elusive artist has not yet confirmed whether the large statue on a plinth in Waterloo Place is by him. — The Guardian