UK and France co-chair meeting on Hormuz shipping plans The UK and France are co-chairing a 40-nation defence ministers' meeting to discuss plans to restore shipping through the Strait of Hormuz. The meeting follows a warning from Iran that any foreign warships wou
Iran demands US war reparations and recognition of its control over the Strait of Hormuz, lifting oil futures after talks collapse. Oil prices climbed after US futures markets opened, reflecting heightened tensions as Iran’s proposal in nuclear negotiations included demand
China's April exports jumped 14.1% year-on-year to $359.4bn, smashing forecasts of 7.9%, while imports surged 25.3% to a record $274.6bn, lifting the trade surplus to $84.8bn. Summary: China's April trade surplus came in at $84.82 billion, up sharply from $51.13 billion in
Tehran dismisses former U.S. president’s criticism, stating its negotiating stance prioritizes national interests over external approval. Iran has dismissed Donald Trump’s rejection of its nuclear proposals as irrelevant to its negotiating position. A state-linked source s
Tehran proposes US lift oil and naval sanctions within 30 days, escalating tensions amid stalled negotiations. Iran has submitted a proposal demanding the US remove oil sanctions, end its naval blockade, and provide war-end guarantees within 30 days, according to an inform
Gold falls 13% from all-time high Gold peaked at $5,589.38 on January 28, 2026, after crossing $5,000 for the first time. The metal had its best year since 1979 in 2025, setting 53 new all-time highs. Gold is currently trading around $4,867, approximately 1
Iran’s proposed text seeks immediate US sanctions removal, naval blockade end, and war guarantees within 30 days, per unconfirmed reports. Iran has reportedly submitted a draft proposal to the US demanding broad sanctions relief, including the lifting of OFAC oil sanctions
Rising costs and weak consumer spending push Las Iguanas toward insolvency, threatening 47 UK locations. Las Iguanas Holdings Limited, operator of 47 UK-based Mexican restaurants, is on the brink of financial collapse due to surging operational costs and declining customer
Ukrainian drones hit Russian oil facilities near St. Petersburg Russia's Leningrad Oblast has been targeted by Ukrainian drones, with 243 shot down from January to March. The region's oil facilities, including export terminals and refineries, have been among the ha
US CPI and retail sales data are due out The upcoming week will see the release of key US economic data, including the Consumer Price Index (CPI) and retail sales figures. These numbers will be closely watched by investors and analysts for signs of inflation and co
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