Shipowners will not resume transit through the Strait of Hormuz for weeks until a US-Iran deal is "material" and evident in real-world conditions, according to Mitsui O.S.K. Lines CEO Jotaro Tamura. The conflict, which began Feb 28 with US-Israeli strikes, had largely halted shipping through the vital route.
China's foreign ministry confirmed ongoing "communications on the relevant dialogue" with the EU. EU sources indicated meetings were postponed, not as retaliation by Beijing, amid Chinese academic Guo Mingxu's criticism of Brussels blaming China for its own failures.
EU member states are reportedly considering reforms to curtail the powers of the European External Action Service (EEAS) and its head, Kaja Kallas, citing concerns over its "dysfunctional" nature. France has proposed options including returning functions to the Commission and national governments, or limiting the EEAS chief's autonomy. Russian presidential advisor Kirill Dmitriev commented that Kallas has "succeeded in annoying everyone."
EU member states are reportedly considering reforms to curb the powers of the European External Action Service (EEAS) and its head, Kaja Kallas, due to concerns about its "dysfunctional" operations. Proposals include returning functions to the European Commission and national governments, or limiting the EEAS chief's autonomy.
An EU-China meeting planned for June 23 in Beijing has been postponed indefinitely. Olof Skoog, deputy secretary general of the EU's External Action Service, was scheduled to visit Beijing to prepare for a potential visit by Kaja Kallas. Chinese foreign ministry spokesman Lin Jian confirmed communication channels remain open.
OpenAI to launch redesigned ChatGPT as a 'super app' with coding tools, image generation, and partner apps, targeting enterprise users for revenue growth ahead of a potential September IPO, competing with Anthropic.
Meta shares fell over 5% after a report suggested the company might raise tens of billions via a stock offering to fund AI investments, despite a spokesperson calling the claim 'pure speculation'.
Tencent is reportedly testing an AI agent for its WeChat ecosystem, with plans to begin compliance processes this month for a potential public launch. The news boosted Tencent's stock, which has fallen over 20% this year.
Czech Prime Minister Andrej Babis likened the EU to the late Roman Empire, criticizing its economic, climate, and security policies for weakening the bloc. He cited aggressive decarbonization, rising defense costs, and reliance on the US as contributing factors.
Global birth rates are declining at a record pace, with researchers linking heavy smartphone and social media use, alongside weaker face-to-face relationships, to the trend. The Financial Times reported that birth rates dropped sharply in multiple countries after widespread smartphone adoption.
Anthropic employees declined to sell stock in a tender offer at a $350B valuation, anticipating a new $900B valuation after a $30B funding round. The company's rapid revenue growth and potential IPO signal strong future prospects.
Decision made to grant US tech firm ‘unlimited access’ to data in project to build integrated platform, according to reportsUK politics live – latest updatesMPs have warned that an NHS decision to grant Palantir access to identifiable patient information in its plan to use AI to improve the health service is “dangerous” and will fuel public fears that data privacy is not being prioritised.NHS England has allowed staff from the US tech firm and other contractors access to patient data before it has been pseudonymised, despite internal fears of a “risk of loss of public confidence”, the Financial Times reported. Continue reading...
Ryanair says that unlike others it will not be cancelling summer flights, as it hedged fuel contracts before Iran warBusiness live – latest updatesAirlines that cancel flights because of fuel shortages this summer will still have to compensate passengers under European law, the EU transport commissioner has said.Apostolos Tzitzikostas told the Financial Times that jet fuel prices or shortages did not meet the criteria that protect EU airlines from passenger claims. Continue reading...
UK chancellor said to have told US treasury secretary she did not like his tone during meeting in Washington in AprilUK politics live – latest updatesMiddle East crisis – live updatesRachel Reeves had an angry exchange with her US counterpart, Scott Bessent, in Washington last month over the war in Iran, sources have said, in the latest sign of the deepening tensions between the two countries.The chancellor and the US treasury secretary argued in person during the spring meetings of the International Monetary Fund, according to people briefed on the exchange, confirming a story first reported by the Financial Times. Continue reading...
Rolling coverage of the latest economic and financial newsAustralia hikes interest rates to 4.35% in blow to mortgage holdersThe Financial Times have a corking story this morning – UK chancellor Rachel Reeves had a “fierce row” with US Treasury secretary Scott Bessent in Washington last month, they say.The pair of finance ministers clashed over the Iran war on the sidelines of the IMF’s Spring Meeting, after Reeves said she was “not convinced” that “we are safer today than we were a few weeks ago”.Reeves responded angrily by telling Bessent she did not work for him and disliked how he had spoken to her.She also reiterated her argument about the Iran conflict lacking clear goals and not necessarily making the world safer.“This is a war that we did not start. It was a war that we did not want. I feel very frustrated and angry that the US went into this war without a clear exit plan, without a clear idea of what they were trying to achieve. And as a result the strait of Hormuz is now blocked.”The decrease reflected higher expected credit losses and other credit impairment charges (‘ECL‘) in 1Q26, an adverse impact from notable items and a rise in operating expenses.The macroeconomic outlook is facing heightened uncertainty, creating volatility in both economic forecasts and financial markets resulting in both tailwinds and headwinds.The Group is well-positioned to manage the impacts of these challenges through our high-quality revenue streams, conservative approach to credit risk and strong deposit franchise. Supporting our clients through this volatile period is a top priority.9am BST: UK car sales for April1.30pm BST: US trade report for March3pm BST: US service sector PMI Continue reading...
Soaring energy costs are undermining the EU’s competitiveness, Belgian central bank chief Pierre Wunsch has told the Financial Times Read Full Article at RT.com
The US administration intends to drop plans to deploy long-range weapons, including Tomahawk missiles, to Germany, according to a Pentagon official cited by The Financial Times. The decision comes after President Trump announced a partial withdrawal of US troops from Germany, which followed German Chancellor Friedrich Merz's criticism of Washington's military campaign against Iran. Christian Moelling, director of the Berlin-based think-tank Edina, warned that while rotating out American troops was manageable, the cancellation of long-range strike capability creates a significant capability gap and questions US readiness to protect NATO allies. Washington and Berlin had announced the deployment plans in July 2025 under the Biden administration, with implementation expected by 2027.
Ukraine's push for accelerated EU membership is creating tensions with European countries, Financial Times reports, citing seven sources. Ukrainian officials are pressing for faster accession timeline, while European leaders warn that reform efforts have stalled and membership is not a gift. Germany proposed associate member status, but Zelensky instructed diplomats to focus exclusively on full membership.
FT journalists have unanimously voted to invoke the publication's dispute procedure over management's plans to increase office attendance from three to four days per week by year-end. The NUJ chapel argues management has 'not made a compelling case' for the change, raising concerns about discrimination against parents (particularly mothers), financial impacts on staff, and whether some staff were hired on three-day hybrid working commitments. About 500-600 editorial staff at London HQ are affected, with roughly two-thirds being union members.
Acting US ambassador to Kyiv Julie Davis will depart her post and retire from the State Department in June 2026, the State Department confirmed. The announcement comes amid a lull in US-brokered ceasefire negotiations to end Russia's invasion of Ukraine. The Financial Times reported Davis was leaving due to differences with President Trump's Ukraine policy, a characterization the State Department called 'false'. Davis, a career diplomat with over 30 years of experience, assumed duties as charge d'affaires in May 2025 following predecessor Bridget Brink's resignation over objections to Trump's Ukraine policy.
The UK's ambassador to the US has said Israel is probably the only country with a 'special relationship' with the United States, in leaked comments made during King Charles III's state visit. Sir Christian Turner told students in February that the phrase 'special relationship' is 'nostalgic' and 'backwards-looking', adding that the UK-US alliance is 'at the end of an era'. The FCDO said the private comments were not a reflection of government policy.
The Financial Times reported that US Secretary of State Marco Rubio may have deliberately declined to attend Iran nuclear talks in Pakistan. Rubio was absent during both US delegation trips to Islamabad. Harvard Professor Stephen Walt suggested the top US diplomat does not want to be associated with defeat in the conflict with Iran. The article details the timeline of US-Israel operations against Iran beginning February 28, the April 7 ceasefire announcement by Trump, and failed April 11 talks in Islamabad.
Russian Presidential Spokesman Dmitry Peskov has dismissed Polish Prime Minister Donald Tusk's warning that Russia could soon attack a NATO country as another manifestation of Russophobia and rabid militarism. Peskov stated Russia leaves such statements without reaction but noted a surge in militarism and Russophobia. President Putin previously told American journalist Tucker Carlson that Russia has no reason to attack any NATO nations, accusing Western politicians of using an imaginary Russian threat to distract citizens from domestic problems.
Anthropic CEO Dario Amodei warns that the AI industry must stop sugarcoating the reality of job displacement. He predicts 50% of entry-level white-collar jobs could vanish within five years, arguing that public trust depends on delivering tangible benefits over empty promises.
