Bank of England leaves interest rates on hold at 3.75%

• The United Arab Emirates withdrew from OPEC yesterday, marking a historic split from Saudi Arabia during the escalating regional crisis. • This decision coincides with the Strait of Hormuz being almost entirely shut down due to a US naval blockade aimed at halting Iranian oil exports. • The US is threatening to cut off major Chinese banks from its financial system to prevent processing of Iranian oil, intensifying global energy tensions.

Cryptocurrency ATMs also face ban, after public inquiry found Canada lacked anti-money-laundering strategyCanada is to establish a new and powerful law enforcement agency to investigate financial crime, in stark contrast to the US, where weakened federal investigators have struggled to pursue fraudsters and the White House has pardoned convicted money launderers.A bill to create the Financial Crimes Agency (FCA) completed its first reading in parliament this week. The legislation was introduced by the governing Liberals and with their parliamentary majority, the party is likely to move the it through both levels of government quickly. Continue reading...

Global Sumud Flotilla describes interception as ‘violent raid’ as IDF urges activists to deliver aid via ‘established channels’Israeli forces have intercepted and detained the crews of at least 22 boats near the Greek island of Crete from a flotilla that is attempting to break Israel’s maritime blockade of the Gaza Strip to deliver humanitarian aid.The Global Sumud Flotilla, consisting of about 58 vessels carrying people from across 70 countries, departed from Italy on Sunday. Continue reading...

Order last week is only partial rescheduling, making ‘an already complex process more confusing,’ expert saysThe Trump administration is making good on its promise to reschedule cannabis, but only partially – raising plenty of questions for those in the cannabis industry.Todd Blanche, the acting attorney general, signed an order last week that removes products sold under state medical cannabis licenses and FDA approved cannabis products from schedule I – defined as substances with no accepted medical use, to schedule III – which includes legal but regulated substances including certain doses of Tylenol with codeine and ketamine. Continue reading...

Mid and West Wales fire and rescue service has been trying to extinguish fires in Elan valley since SundayFirefighters are struggling to control wildfires raging though the scenic Elan valley in mid-Wales for a fifth day.The Mid and West Wales fire and rescue service has been working to extinguish fires in and around the Powys beauty spot since Sunday. It is not yet clear how much damage the biodiverse area has suffered: 80% of the valley is designated as sites of special scientific interest, raising fears for flora and fauna. Continue reading...

Man, 45, who has been arrested on suspicion of murder after London stabbings, was known to anti-radicalisation schemeGolders Green attack – latest updatesThe suspect in the Golders Green double stabbing was referred to Prevent, the official counter-extremism scheme, in 2020.The Guardian understands his case was closed within six weeks by the deradicalisation scheme, which has faced previous criticism. Continue reading...

Artist has not yet confirmed whether large statue on plinth in Waterloo Place is by himBanksy’s signature has appeared scrawled at the base of a large new statue in central London.The elusive artist, known for his provocative works of graffiti, has not yet confirmed whether the statue is by him. He often posts confirmation on his website shortly after a work is discovered by the public. Continue reading...

Ruling has gutted provision intended to prevent racial discrimination in voting. Plus, oil tops $126 a barrel to reach highest level since 2022Good morning.The US supreme court has gutted a major section of the Voting Rights Act through a landmark decision on Louisiana’s congressional map, in a major upheaval in US civil rights law that threatens to weaken the voting power of minorities.How have lawmakers reacted? Terri Sewell and Shomari Figures, who are now at risk of losing their seats in Alabama’s Black congressional districts, have decried the decision as sending the nation “backwards”.How did the ruling come to pass? It is the culmination of justices John Roberts and Samuel Alito’s joint campaign to roll back civil rights legislation.How could midterm maps be changed by redistricting? While the supreme court decision leaves little time to redraw maps ahead of the midterms, here is what midterm maps could look like if both parties achieve all their current redistricting ambitions. Continue reading...

In 2022, Aneil Karia won an Academy Award for his short starring Riz Ahmed. Now, he’s skewering Reform-style parliamentary candidates with the help of Jack Lowden and an unlikely online platformSome film-makers have unrealistic expectations for their work; Aneil Karia is not one of them. “I’m not deluded enough to think that it’s going to bring down the government,” he says of his new film, Vote Gavin Lyle – but you never know, it just might. A funny, clever, superbly acted, small-but-perfectly-formed satire, Vote Gavin Lyle stars Jack Lowden as a wannabe Reform-style parliamentary candidate for the fictional middle-England constituency of Fletcham and Wold. At just 16 minutes long, it absolutely skewers the far-right mindset; not the minority-bashing, flag-hoisting street thugs, but the cannier, well-spoken Farageists who dominate the tendency’s leadership.Without wanting to give away the film’s final flourish, it’s fair to say that there’s an element of empathy, even sympathy for its central character. Karia says: “I don’t think it’s interesting or useful to look at these people – far-right politicians, councillors, prospective candidates, whoever – and just say what nasty bastards they are. I think what strikes me about them is they’re just as vulnerable and scared as the rest of us. Continue reading...

Arrest of potential next leader found hiding in drainage pipe highlights renewed tactics – and fears of cartel infightingUS politics live – latest updatesThe golden coffin of “El Mencho”, the late leader of the Jalisco New Generation cartel (CJNG), had barely been lowered into the ground when the Mexican military dealt a second blow to the very top of the organisation this week.As special forces descended on a ranch in the state of Nayarit, grainy drone footage showed El Mencho’s possible successor, Audias Flores, alias “El Jardinero”, being hauled from a drainage pipe he had tried to hide in, all without a shot being fired. Continue reading...

With voter loyalty a distant memory, the Lib Dems’ cost of living policies and criticism of Trump could gain them ground It has been an election buildup dominated by the rise of Reform UK and the Greens, and the contrasting woes of Labour and the Tories. But there is a chance that on 8 May the Liberal Democrats, largely ignored in recent weeks, could wake up as the biggest party in English local government.This is just one of several paradoxes for the party’s leader, Ed Davey, and his team. They are fifth in many national polls, with a rating barely changed from 2024. But Lib Dem bosses are sanguine, convinced that UK politics is now so different, so atomised, to make headline polling almost irrelevant. Continue reading...