Amid Iran

• BJP MP and senior advocate PP Chaudhary advocated for the "One Nation, One Election" framework during a recent Idea Exchange session. • Chaudhary argued that frequent elections create excessive financial and administrative burdens while disrupting essential governance and development. • The MP also called for reforms to the anti-defection law to prevent political misuse and defended the Joint Parliamentary Committee's role in legislative scrutiny.

• Gold prices (XAU/USD) declined to approximately $4,060 during Asian trading hours on Monday. • The drop is driven by market uncertainty regarding US-Iran talks and expectations of a hawkish stance from the Federal Reserve. • This price movement reflects investor caution as geopolitical tensions and monetary policy shifts influence the precious metal's appeal.

US secretary of state to reassure UAE, Kuwait and Bahrain that his country remains committed to their securityMiddle East crisis live – latest updatesMarco Rubio, the US secretary of state, is to meet Gulf allies on Tuesday and Wednesday in an attempt to reassure them that the US remains committed to their security and the 60-day ceasefire deal struck with Iran last week will not embolden Tehran.The Gulf is divided over the deal. While Qatar has played a central role in mediating the agreement, some countries – notably the United Arab Emirates, Kuwait and Bahrain – are fearful it hands Iran substantial sums that may be ploughed into its military. Continue reading...

JD Vance lambasted Israeli critics of the proposed deal, but did not travel to Europe as planned. Plus, at 82 years old, Keith Richards still gives some of the best interview quotes in townGood morning. Talks set to take place today between the US ⁠⁠and ​Iran to implement a peace deal were abruptly cancelled. The White House said the US still looked forward to “beginning technical talks as soon as possible”. Hezbollah-linked media reported Tehran was delaying sending its delegation due to Israel’s ongoing military campaign in Lebanon.The talks were set to begin in the Swiss village of Obbürgen two days after the signing of a memorandum of understanding (MOU) that opened a 60-day window to negotiate a permanent agreement over Iran’s nuclear programme, while reopening the strait of Hormuz. The centre of the strait is blocked with about 80 mines that will need clearing for normal shipping to resume, the independent tanker owner trade body has said.What is happening in Lebanon? Hezbollah targeted Israeli forces near Nabatieh with several salvoes of rocket fire after Israeli shelling. Israel responded with a wave of airstrikes, killing at least 18 people and injuring 33. Iran has said Israel’s attacks on Lebanon must end as part of any peace deal.What did JD Vance say to Israeli critics of the deal? In sharp words, the vice-president said: “Donald J Trump is the only head of state in the entire world ‌who is sympathetic to the nation of Israel at this ‌moment in time. If I was in the cabinet of the Israeli government, I might not be attacking the only powerful ally that I have anywhere left ‌in the entire world.”Why does Trump’s Iran entanglement echo the Jimmy Carter years? In this excellent analysis piece Robert Tait reminds us that one of Trump’s earliest political forays was lambasting the Democratic president during the 1980 Iran hostage crisis. Trump, Tait says, now finds himself in a position that uncannily resembles that of his predecessor – unable to bend Iran to his will despite superior US military power. Continue reading...

UK’s biggest retailer reports better figures than expected by City analysts and is cheered by strong online salesBusiness live – latest updatesTesco’s UK sales growth has more than halved as it said the conflict in the Middle East had created “ongoing uncertainty for many households”.The UK’s biggest retailer said comparable sales rose 1.8% in the three months to the end of May, well below the 4.2% reported in the previous quarter. Continue reading...

Country follows ECB in increasing borrowing costs, but US Fed and Bank of England expected to hold ratesBusiness live – latest updatesThe Bank of Japan (BoJ) has raised interest rates to a 31-year high, as it tried to dampen inflationary pressures created by the Iran war.Policymakers in Tokyo raised the BoJ’s short-term policy rate by a quarter of one percentage point, to 1% from 0.75%, and warned that companies were passing on rising oil costs to each other at a “relatively fast pace”. Continue reading...

Senate Republicans say there are many unanswered questions about the deal and question inclusion of funds for Iran The US vice-president, ⁠JD Vance, has said a number of issues still need to be figured out with Iran, as many Republicans expressed scepticism of the agreement reached this week by Donald Trump, and pressed the White House to release more information about it.The memorandum of understanding (MOU) announced Sunday to end the war in Iran, set for a ceremonial signing on Friday in Geneva, is centred around reopening the strait of Hormuz and lifting the United States’ naval blockade in the region, along with financial incentives for Iran if it meets certain benchmarks. Continue reading...

Federal Reserve to make first decision under Kevin Warsh as Middle East hopes ease inflation pressuresBusiness live – latest updatesCentral banks in the US and UK are expected to leave interest rates on hold this week as the peace deal in the Middle East is expected to ease inflationary pressures.The US Federal Reserve is expected to hold its benchmark interest rate at a range of 3.5% to 3.75% on Thursday, in what will be the first policy decision under new Fed chair – and Donald Trump’s pick – Kevin Warsh. Continue reading...

• Asia Pacific stock markets rallied significantly following a peace agreement between the U.S. and Iran, which reduced global geopolitical risks. • South Korea's KOSPI led the surge with a 5.38% increase to 8,561.07, while other indices including Australia's ASX 200, China's SSEC, SZI, and Hong Kong's HSI also saw gains. • This market optimism reflects investor confidence that the diplomatic resolution will stabilize international trade and economic security.

National average gas price stands at about $4.16 per gallon as Americans grapple with price hikes sparked by the warDonald Trump has claimed US fuel prices are “not very high, relatively speaking” as his administration grapples with affordability concerns after the surge in costs sparked by his war on Iran.The national average gas price stood at about $4.16 per gallon on Tuesday, according to AAA – $0.37 lower than a month ago, but still about $1 more expensive than the same time last year. Continue reading...

• Asian stock markets experienced a significant plunge driven by a cooling AI-related rally and geopolitical instability. • The downturn was triggered by Iran's attacks on Israel, which caused immediate volatility in global oil prices and currency values. • This shift marks a critical pivot as investors move away from high-growth AI stocks amid rising regional tensions in the Middle East.

• Asian stock markets experienced a significant plunge driven by a cooling AI-related rally and geopolitical instability. • The downturn was triggered by Iran's attacks on Israel, which created volatility in global currency values and oil prices. • This shift matters as it signals a potential correction in the high-growth AI sector and highlights the economic risks of Middle Eastern conflict.

Unexpected monthly drop of 0.1% in May leaves price of typical home at £298,806, says lender HalifaxBusiness live – latest updatesUK house prices fell unexpectedly in May as rising mortgage rates fuelled by the war in Iran affected affordability and homebuyer demand.The average price of a typical UK home fell by 0.1% in May to £298,806 compared with April, the third consecutive monthly drop recorded by the lender Halifax. Analysts had been expecting a return to growth, with a consensus of a 0.1% rise forecast for May. The monthly drop followed falls of 0.1% in April and 0.5% in March. Continue reading...

• US stock markets remained near record highs on Wednesday, June 3, 2026, despite pressure from geopolitical instability. • Oil prices climbed toward $100 per barrel due to renewed tensions involving Iran and concerns over the Strait of Hormuz. • Market resilience was driven by strong corporate earnings and investor optimism regarding the potential reopening of critical shipping lanes.

• Stock markets remained rangebound as investors weighed uncertainty regarding Iran talks and a series of artificial intelligence developments. • Alphabet's Class A shares fell 2.2% following the announcement of a massive investment program, which includes $10 billion in backing from Berkshire Hathaway under CEO Greg Abel. • In a significant industry milestone, AI startup Anthropic, the developer of Claude, has confidentially filed for an IPO, beating rival OpenAI to the first step of going public.

• Global stock markets rallied driven by optimism surrounding artificial intelligence, specifically following an IPO filing by AI firm Anthropic. • Conversely, oil prices and bond yields declined due to instability in US-Iran talks and ongoing geopolitical uncertainty in the Middle East. • In South Korea, the benchmark KOSPI index experienced high volatility, swinging lower after reaching a record high as major tech stocks like Samsung Electronics and SK Hynix fluctuated.

The US military said aircraft disabled the engine room of the unladen Botswana-flagged M/T Lexie as it passed through international watersUS forces fired a Hellfire missile to disable a tanker attempting to break through the American blockade and reach Iran, amid an enduring standoff in the strait of Hormuz and stalling efforts by Washington to secure a new ceasefire agreement with Tehran.The US military’s Central Command (Centcom) said its aircraft disabled the engine room of the unladen Botswana-flagged M/T Lexie on Tuesday as it passed through international waters toward Kharg Island, north of the strait near Kuwait, after the crew ignoring repeated warnings over a 24-hour period. Continue reading...

• Indian stock markets plummeted on Tuesday, with the Sensex falling over 400 points and the Nifty dropping below 23,250. • The downturn was driven by escalating US-Iran tensions and persistent selling by foreign institutional investors (FIIs), causing declines of over 1% in the Auto, Realty, and Consumer Durables sectors. • Despite the broader crash, Nifty IT gained nearly 2%, while 1,650 stocks on the NSE declined compared to 887 that advanced.

• The Sensex and Nifty extended their losing streak to a fourth consecutive day, with the Nifty settling below the 23,400 level. • Market declines were driven by escalating US-Iran tensions, a sharp rise in Brent crude oil prices, and a weakening rupee. • Sectoral performance was mixed, as FMCG, PSU Bank, and realty shares dropped while IT, media, and metal stocks saw gains.

• South Korea's Kospi index reached a record high on Monday, bolstered by a more than 3% surge in Samsung shares, which also hit an all-time high. • The rally occurred despite mixed trading across Asia-Pacific markets as investors reacted to ongoing uncertainty regarding U.S.-Iran negotiations. • President Trump signaled a cautious approach to ending the conflict, stating he was in "no hurry" to strike a deal after four months of tension.

Inflation can be tolerated above 2% target for now ‘given context of softness in real economy’, governor saysBusiness live – latest updatesThe Bank of England is in no rush to raise interest rates while the outcome of the Iran war remains uncertain and the UK’s growth rate stays weak, the governor, Andrew Bailey, said.In a signal that borrowing costs will remain at 3.75% at least during the summer, Bailey said it was tolerable for inflation to stay above the Bank’s 2% target during the current crisis. However, that would change if a more permanent increase in prices began to take effect. Continue reading...

Commodity poised for one of biggest monthly declines, while global stock markets rallyBusiness live – latest updatesOil prices fell on Friday as investors hoped for the end of the US-Israel war on Iran, leaving the commodity poised for one of the biggest monthly declines ever.The price of Brent crude futures, the global benchmark, fell by 1.3% to $91.54. Brent is heading towards one of its biggest monthly drops ever as it nears a fall of 17% since the start of May. Continue reading...

• Asian stock markets saw significant gains, with the South Korean Kospi surging 3.6%, the Japanese Nikkei rising 2.65%, and Hong Kong’s Hang Seng increasing by 0.9%. • The market rally coincided with a dip in oil prices, driven by investor optimism regarding a potential peace deal between the United States and Iran. • This shift reflects a reduction in geopolitical tension, which typically lowers risk aversion and boosts investor confidence in global equities.

• The Sensex and Nifty are expected to experience volatility on May 27, 2026, driven by escalating tensions between the US and Iran. • Nifty has slipped below its 50-day EMA but continues to test the upper band of the 23,200-23,850 breakout zone. • Market activity shows selling pressure in Private Bank, Realty, and Consumer Durable indices, while Metal, FMCG, and Auto stocks saw selective buying.

• Diplomacy between Tehran and Washington has accelerated after weeks of escalation, with regional mediators helping drive a new round of Iran-U.S. talks. • The reporting says the confrontation follows more than six weeks of disruption tied to Iran’s pressure on shipping through the Strait of Hormuz and a U.S.-enforced naval blockade. • The article frames the talks as a shift from confrontation to negotiation, with economic strain and oil pressure pushing both sides toward a new phase.

• Asia-Pacific stock markets rallied, highlighted by Japan's Nikkei index surpassing the 65,000 mark for the first time. • The surge was driven by investor optimism surrounding U.S.-Iran negotiations and a corresponding decline in global oil prices. • Trading activity remained light across the region as financial markets in South Korea and Hong Kong were closed for public holidays.

Secretary of state says a deal could materialise ‘today’, while Trump says talks with Iran proceeding constructively as he faces criticism from within his own partyHello and welcome to the Guardian’s continuing coverage of the crisis in the Middle East.US secretary of state Marco Rubio said on Monday that a deal to end the war with Iran could materialise “today”. Continue reading...

Tehran negotiator says there will be no compromise over its ‘legitimate rights’ during meeting with Pakistan army chiefIran’s top negotiator has said there will be no compromise over its national rights during a meeting with the Pakistani army chief in Tehran on Saturday, amid a flurry of diplomacy aimed at preventing renewed US strikes on Iran.Mohammad Bagher Ghalibaf, Iran’s parliamentary speaker, said Tehran would secure its “legitimate rights”, whether through the battlefield or through negotiations, while accusing the US of not being an honest negotiating partner, Iranian state media reported. Continue reading...