Strait of Hormuz Crisis
Iran Claims Missile Strike on US Warship; Pentagon Denies
Iran’s state media claimed two missiles struck a US Navy destroyer to prevent it entering the Strait of Hormuz. A senior Iranian official later told Reuters it was a “warning shot,” and it is unclear whether any damage was sustained. US Central Command denied any ship was hit, stating: “No U.S. Navy ships have been struck.”
US Launches ‘Project Freedom’ to Guide Ships Through Hormuz
The United States announced it is ready to “guide” commercial ships through the Strait of Hormuz via a southern route through Oman’s waters. The initiative may involve guided-missile destroyers, more than 100 aircraft, and 15,000 service members. Iran insists any such transits must be coordinated with its armed forces and warned it will attack any foreign military entering the waterway.
UAE Condemns Iranian Drone Attack on Adnoc Tanker
The UAE condemned Iran’s attack on an Abu Dhabi National Oil Company tanker attempting to cross the Strait of Hormuz. Two drones reportedly targeted the ship. The UAE foreign ministry called the attack “acts of piracy by Iran’s Revolutionary Guard Corps.”
Ukrainian Anti-Drone System ‘Sky Map’ Deployed in the Gulf
Ukraine’s battle-tested Sky Map system, which uses thousands of acoustic sensors and interceptors to detect and destroy incoming drones, is now being used in the Gulf region.
Gaza & Middle East
Israel Seizes Nearly 60% of Gaza, Plans to Resume War
Israel has expanded its control of the Gaza Strip to nearly 60 percent of the territory despite the ceasefire. Senior military officials are pressing to restart fighting, arguing now is the optimal moment to defeat Hamas. Operational plans for renewed attacks have been completed pending political approval.
Al Jazeera: Israel Not Implementing Gaza Ceasefire
Al Jazeera reports that Israel is not implementing the ceasefire agreement in Gaza.
Italian Prosecutors Investigate Kidnapping of Gaza Flotilla Activists
Prosecutors in Rome have opened an investigation into the capture and detention of two people aboard a Gaza-bound aid flotilla. The activists are currently imprisoned in Israel after being seized by Israeli forces over international waters on a boat flying the Italian flag.
Rubio to Visit Rome After Trump’s Feud With Pope and Meloni
Secretary of State Marco Rubio will travel to Rome after President Trump criticized Pope Leo XIV and then turned on Italian Prime Minister Giorgia Meloni for defending the pontiff.
Winning Peace in Lebanon Harder Than Winning War
Analysis: Resolving the conflict in Lebanon necessitates taking into account its long history and new geopolitical realities.
Markets & Business
Oil Surges Past $105 as Dow Futures Drop 200 Points
Conflicting reports of an Iranian strike on a US warship sent crude above $105 a barrel. Dow futures dropped 200 points, though futures pared losses after US denials. The S&P 500 and Nasdaq Composite are coming off fresh records notched Friday.
GameStop Makes $55.5 Billion Takeover Bid for eBay
GameStop, which has quietly accumulated a 5% stake in eBay, offered $125 per share in a 50-50 cash-and-stock deal. CEO Ryan Cohen warned the unsolicited bid could turn hostile if rebuffed and told CNBC GameStop could issue more stock to fund the deal.
Spirit Airlines Shuts Down After Rescue Deal Collapses
The discount carrier canceled all flights on May 2 after a creditor group rejected a $500 million government bailout and surging jet fuel costs drained its finances.
Cerebras Kicks Off IPO Roadshow at $115–$125 Per Share
AI chipmaker Cerebras, a Nvidia rival, is seeking to raise as much as $3.5 billion and achieve a valuation of up to $26.6 billion on the Nasdaq.
US Oil Sanctions Push Beijing to Test Washington’s Limits
Beijing has told its companies to ignore American sanctions on a major oil refiner, complicating the leaders’ summit next week.
Corporate Buybacks Surge as ‘Ultimate Dip-Buyers’ Stay Strong
As investors wonder if the US equities rally is running out of steam, corporate buybacks show unwavering support for the market.
Bitcoin Stalls Near $80,000
Bitcoin is hovering near $80,000, though stocks and ETF inflows still point to a potential breakout.
Africa
Nigeria Plans to Repatriate Nationals From South Africa After Attacks
Nigeria plans to repatriate nationals willing to leave South Africa following a wave of anti-migrant protests, some of which have turned violent.
New Alliances Shake Up Nigerian Political Landscape
Peter Obi and Rabiu Kwankwaso, who came third and fourth respectively in the last elections, have switched parties, reshaping Nigeria’s political landscape.
Asia-Pacific
Hong Kong Apartment Fire Inquiry Reveals Disabled Alarms, Ignored Warnings
Evidence at hearings shows how disabled alarms, flammable materials, and ignored warnings contributed to the deaths of 168 people in a Hong Kong apartment complex.
Online Gambling Scourge in Indonesia: Nearly 1 Million Minors Affected
In Indonesia, almost 1 million minors are thought to have an online gambling habit. Over 80,000 players are reportedly under age 10. In 2024, Indonesia recorded dozens of suicides linked to online gambling.
KMT Internal Splits Over Taiwan Defence Spending
Internal splits over defence spending are widening within Taiwan’s main opposition party ahead of local elections, under growing US pressure over a proposed NT$1.25 trillion (US$40 billion) special defence budget.
Americas & Europe
Monster Truck Drives Into Crowd in Colombia, Killing 3
A monster truck lost control after performing a stunt at an outdoor rally in Popayán, Colombia, and plowed into spectators, killing three people.
Hantavirus: Three Cruise Ship Passengers Die in Suspected Outbreak
Three passengers on the MV Hondius in the Atlantic died after showing symptoms of hantavirus. Health authorities confirmed one case and are investigating five others. Hantavirus, usually spread by rodents, is fatal in around 40% of cases.
Trump Administration Claims Food Aid Fraud; Critics Say ‘No Evidence’
Agriculture Secretary Brooke Rollins claimed 14,000 SNAP recipients included owners of luxury vehicles. Critics charge the broadside is part of a disinformation campaign against the 87-year-old food aid program that supports tens of millions of low-income Americans.
White House Correspondents’ Dinner Shooting Suspect Hearing Scheduled
Cole Allen remains in custody after being charged with attempting to assassinate Donald Trump. A hearing is scheduled for today.
UK
UK Food Prices on Track to Rise 50% Since Start of Cost of Living Crisis
Food prices are on track to be 50% higher in November than at the start of the cost of living crisis in 2021. Beef and olive oil costs have increased the most, driven by climate and energy shocks.
Starmer Says Europe Must Face Strained US Alliance
At the European Political Community summit in Yerevan, PM Keir Starmer said Europe must face up to the fact that its alliance with the US is under strain. Meanwhile, Reform UK’s plan to set up migrant detention centres in Green-voting areas has been condemned by other parties.