Hopes

• Indian equity indices surged sharply on May 6, 2026, with Sensex gaining 940.73 points (1.22%) to close at 77,958.52 and Nifty rising 298.15 points (1.24%) to 24,330.95, driven by optimism over potential US-Iran peace negotiations and declining crude oil prices. • Banking stocks led the rally following the Union Cabinet's approval of an emergency credit guarantee programme worth Rs 15,800 crore to support businesses facing liquidity stress, with Hero MotoCorp climbing 2.6% and Mahindra & Mahindra advancing 3.1% on strong quarterly earnings. • Broader market indices also gained traction, with Nifty smallcap100 and midcap100 rising 0.9% and 1.1% respectively, though FMCG stocks declined amid easing geopolitical tensions in West Asia that had previously pushed Brent crude to $115 per barrel.

Trump-endorsed candidate facing a long-shot challenge from car designer and YouTube provocateur Casey PutschHello and welcome to the US politics live blog.Former Republican presidential candidate Vivek Ramaswamy is hoping to lock in his position as candidate in the race to become Ohio governor.Donald Trump has threatened that Iran will be “blown off the face of the earth” if it attacks US vessels trying to reopen a route through the strait of Hormuz. The US launched an operation to help hundreds of ships trapped with their crews in the Gulf, dragging the region back to the brink of full-scale war. While the US military claimed to have destroyed six Iranian small boats and intercepted both Iranian cruise missiles and drones, this was denied by Iran. More here.The Trump administration moved to block a lawsuit Minnesota officials filed almost six years ago alleging oil companies and a petroleum trade group deceived state residents about climate change. The justice department, the administration’s law enforcement arm, filed an action in federal court in Minneapolis arguing that the federal government has the authority to regulate greenhouse gas emissions, not states, and that Minnesota officials are trying to improperly impose their policy preferences on the rest of the country.The US supreme court went out of its way to help Louisiana Republicans redraw their congressional maps ahead of this year’s midterm elections. The procedural move comes less than a week after the court’s landmark decision striking down Louisiana’s congressional map and gutting section 2 of the Voting Rights Act.The Trump administration is continuing to pressure the United Nations and the international aid sector more broadly to adopt trade-focused policies to benefit US firms – or face the threat of further budget cuts. Donald Trump’s second term has already seen USAID suffer mass layoffs and have its remaining operations folded into the state department, with a ripple effect across the globe that has many experts warning will cost thousands of lives as vital programs are cut. More here.The Trump administration’s attack on the 87-year-old food aid program that supports tens of millions of low-income Americans escalated last week as the agriculture secretary, Brooke Rollins, claimed that 14,000 Supplemental Nutritional Assistance Program (Snap) recipients included owners of luxury vehicles such as Ferraris, Bentleys and Teslas. More here. Continue reading...

The treasurer also says May federal budget will play ‘helpful not harmful role in fight against inflation’Jim Chalmers has warned there will be little room for more cost of living support in his fifth and “most responsible” budget yet, as he ruled out an immediate extension of the 26-cent cut to the fuel excise and downplayed hopes for additional tax relief for workers.The treasurer also said Australian voters would forgive Labor for breaking a pre-election vow not to touch negative gearing rules for landlords, which is set to form part of a package that would also scale back the capital gains tax discount in the name of intergenerational fairness. Continue reading...

Nearly 60 countries back voluntary roadmaps to wean world off coal, oil and gasGovernments have been asked to develop national “roadmaps” setting out how they will end the production and use of fossil fuels, after a landmark climate meeting involving nearly 60 countries.The voluntary plans will form the bedrock of a new initiative to wean the world off coal, oil and gas, the focus of two days of intensive talks in Colombia this week. Continue reading...

Results suggest radiotracer maraciclatide can ‘light up’ condition on scan and reduce need for investigative surgeryA non-invasive scan for endometriosis has shown promising results in a trial, boosting hopes for far quicker diagnosis.The trial, which included 19 women with the condition, suggests that an experimental radiotracer, called maraciclatide, can “light up” endometriosis on a scan. The current need for a surgical investigation is seen as a major obstacle to timely diagnosis, with women in England typically waiting nearly a decade. Continue reading...

FTSE 100 slides and UK gas prices up amid fears strait of Hormuz will be closed for extended periodBusiness live – latest updatesOil prices rose sharply and European stock markets fell on Monday, after the US seizure of an Iranian vessel hit hopes for a peace deal.Brent crude, the international benchmark for oil prices, rose by as much as 5% on Monday to $95.50 (£70.75) a barrel. Continue reading...

Transfer of medical services from hospital to former Wilko store is improving healthcare access and boosting footfallIt is a revolution that might just save the NHS – and the high street. Imagine being able to have your eyes tested, mole examined or get an appointment with a consultant without going to your local hospital – and maybe fit in some shopping or a cinema visit afterwards.That, increasingly, is what people in Barnsley are doing after an unprecedented relocation of medical services from the district general hospital into a purpose-built outpatients centre in the Alhambra shopping centre, which is getting a new lease of life thanks to the experiment. Continue reading...