Unexpected

In today’s newsletter: As conflict engulfs Iran, shifting ​global alliances and soaring energy prices are reshaping ​the existing power balances​ that could redefine the next stage of international security Good morning. So far, there is only one clear winner from the war in Iran: Russia. Before the US and Israel attacked Tehran in late February, Moscow was preparing deep budget cuts to education and healthcare funding to pay for its invasion of Ukraine, which has now entered its fifth year.In just over a month of the fighting in Iran, Vladimir Putin’s Russia has experienced a dramatic reversal in fortunes. The global oil price has shot up from a prewar average of $72 to well over $100 per barrel, providing a financial boost of multi-billions for Moscow that shows little sign of ending.Middle East | Donald Trump has launched a tirade against European countries that refused to join his war against Iran, calling out the UK and France.Military | The UK is sending more military support to the Gulf, taking the total deployment to 1,000 troops.NHS England | Some medicines could run out in weeks or even days, NHS England head warns, after supply line shocks.UK politics | Nigel Farage to ‘steer well clear’ of UK CPAC event in July being led by the short-lived former prime minister Liz Truss.UK news | King Charles’s state visit to US to go ahead in late April despite Iran war concerns. Continue reading...

Outcome suggests that when mainstream parties cooperate they can still block Marine Le Pen’s far-right National Rally Europe live – latest updatesFrance’s local elections, closely watched for clues to next year’s crunch presidential vote, have given parties of the centre a welcome and unexpected lift as the far right and radical left fell some way short of their ambitions.The 35,000 municipal ballots often focus on local survival and their outcomes do not always reflect national voting patterns, but they do show trends in popularity and suggest what kind of alliances can be struck in a fragmented political landscape. Continue reading...

Data comes amid increasing fears that Iran war could send British government’s plans off courseBusiness live – latest updatesBritain’s public finances showed a higher than expected monthly deficit of £14.3bn last month, official figures revealed, amid growing fears the Iran conflict could blow the government’s plans off course.The figures from the Office for National Statistics (ONS) showed public sector net borrowing – the difference between spending and income – had widened £2.2bn year on year in February and was higher than the £8.5bn City economists had forecast. Continue reading...