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US demands Iran reopen the strait of Hormuz while Tehran rejects 45-day ceasefire proposal and insists it wants permanent end to conflictTalks to end Iran war appear to falter a day before Trump deadlineHello and welcome to our continuing live coverage of the US-Israel war on Iran and its consequences for the region, the world and the global economy.Donald Trump said he was “not at all” concerned about committing possible war crimes as he again threatened to destroy Iran’s bridges and power plants if Tehran does not meet his Tuesday 8pm ET deadline to reopen the strait of Hormuz.The UN security council is expected to vote on Tuesday on a resolution to protect commercial shipping in the strait of Hormuz but in significantly watered-down form after veto-wielding China opposed authorising force, Reuters is reporting, citing diplomats.The Israeli military said early on Tuesday it had completed an “air strike wave” aimed at damaging Iranian regime infrastructure in Tehran and additional areas across Iran. It said soon after that missiles were launched at Israel from Iran and defensive systems were operating to incept them.Israel’s military also said it carried out strikes on three airports in Tehran, targeting several Iranian planes and helicopters.The World Health Organisation suspended medical evacuations from Gaza to Egypt via the Rafah crossing after a contract worker for WHO was killed in Gaza on Monday. Separately, an Israeli airstrike killed at least 10 people outside a school housing displaced Palestinians in central Gaza, health officials said. Before the strikes some Palestinians had clashed with members of an Israeli-backed militia who they said attacked the school, Reuters cited medics and residents as saying.Oil prices extended their rises on Tuesday amid Trump’s heightened rhetoric against Iran. The head of the IMF, meanwhile, said the war would lead to “higher inflation and slower global growth”.The head of International Committee of the Red Cross said that “deliberate threats ... against essential civilian infrastructure and nuclear facilities must not become the new norm in warfare”. Mirjana Spoljaric said, without singling out any country or leader: “Any war fought without limits is incompatible with the law.”Israel said it struck Iran’s largest petrochemical complex on Monday. Israeli prime minister Benjamin Netanyahu said the facility had been “destroyed” and his country was “systematically eliminating the Revolutionary Guards’ money machine”.The intelligence chief of Iran’s Revolutionary Guards, Maj Gen Majid Khademi, was killed in US-Israeli strikes at dawn on Monday, the Guards said.Saudi Arabia intercepted seven ballistic missiles launched towards its eastern region and debris fell in the vicinity of energy facilities, the defence ministry of said on Tuesday.Two blasts were reportedly heard near the Erbil airport – which hosts advisers from the US-led anti-jihadist coalition – in Iraq’s northern Kurdistan region, an Agence France-Presse journalist said. Continue reading...

Spinning off brands such as Hellmann’s, Knorr and Pot Noodle into $60bn entity puts core focus on beauty, personal care and home productsBusiness live – latest updatesUnilever is in advanced talks to combine its food business with US-based McCormick in a deal including $15.7bn (£11.9bn) cash that would give the Marmite-to-Hellmann’s mayonnaise owner majority control of a $60bn food empire.London-listed Unilever will control 65% of the new spin-off, which will combine brands such as Knorr and Pot Noodle with McCormick’s condiments and spices including French’s mustard, Old Bay seasoning and Cholula hot sauce. Continue reading...

New agreement delayed amid home secretary Shabana Mahmood’s demands for more interceptions of dinghiesA renewed deal between the UK and France to stop small boat Channel crossings has not yet been signed, with a day to go before the current one expires, raising questions about whether people smugglers will be able to act unimpeded from later this week.Rishi Sunak and Emmanuel Macron announced the previous £468m deal on 10 March 2023, weeks before it came into force. The UK pays two-thirds of the cost of policing France’s northern border and the current agreement expires on Tuesday. Discussions on it began last July at the 37th UK-France summit and British officials travelled to Paris last week for another round of talks. Continue reading...

• The S&P 500 has declined more than 7% year-to-date as the first quarter of 2026 approaches its close with two trading days remaining. • Market challenges have intensified due to economic uncertainty and global events impacting investor sentiment. • This downturn underscores broader concerns over growth prospects and potential shifts in Federal Reserve policy.

Passengers report varying experiences at different times of day at security screening as ICE agents assist TSA staffUS politics – live updatesHartfield-Jackson Atlanta international airport turned the digital wait time sign off days ago. Predicting passenger behavior can be hard; predicting the behavior of unpaid TSA agents is also hard. Keeping an accurate clock has been impossible.Even though ICE agents have started filling in for TSA screeners at some airports, a morning flight might mean a three-hour slog with lines winding around baggage carousels, from the security checkpoint all the way outside to the curb. Continue reading...

US 10-year Treasury yields approached 4.5% on March 13, 2026, fueled by inflation worries and oil-driven pressures. This climb raises questions on potential changes to President Trump's economic policies if thresholds are breached. Markets eye bond market stress alongside equity declines for signals. Upcoming data releases could dictate Federal Reserve responses in coming months.

Crude oil benchmarks hover near $100 per barrel, up 70% since early January, with forecasts of $150 highs if the Strait of Hormuz remains disrupted. U.S. fuel prices have risen nearly 35% from January lows, though domestic supplies prevent shortages. Energy producers like Exxon Mobil and Chevron hit record highs, while the Dow Jones fell 6% in a month amid stagflation concerns. Prolonged conflict could reverse Fed rate cuts and pressure consumer sectors further.