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The Latest Breaking News from Iran

Stocks Steady Before the Open as Investors Await U.S.-Iran Updates; Earnings and Economic Data on Tap

June S&P 500 E-Mini futures (ESM26) are up +0.03%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.01% this morning as investors await the outcome of diplomatic efforts aimed at ending the Iran war.

Barchart

Middle East tensions: Iran’s response to US peace proposal expected today

Iran is reviewing a US proposal, with a response expected soon, potentially via Pakistani mediators. Tehran prioritizes a full war cessation and sanctions relief over nuclear talks, seeking UN Security Council guarantees.

The Times of India

Donald Trump humiliated by Saudi Arabia, canceled Hormuz ‘Project Freedom’ after Crown Prince said no

A little reminder to Trump of who's really in control of the Middle East.

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Shell profits rise to £5bn after Iran war oil price surge

IN FULL

The Independent UK

Gas prices won't return to pre-war levels any time soon

Consumers have a long road ahead even if a U.S.-Iran peace deal actually happens this time.

Axios

Iran set for crunch talks with Gianni Infantino over World Cup 2026

IN FULL

The Independent UK

Maersk hikes shipping prices to offset cost hit from Iran war

Chief executive Vincent Clerc said the closure of the Strait of Hormuz could start impacting global trade and consumer demand.

Evening Standard

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What's at stake at the Trump-Xi summit

President Donald Trump will meet President Xi Jinping in Beijing next week. The leaders aim to ease tensions over trade, Taiwan, and the Iran war. Discussions will cover trade deals, technology, and rare earths. The Iran conflict and Taiwan's status are also key agenda items. Minor trade agreements are anticipated.

The Economic Times

US and Iran ‘closer than ever’ to peace deal – here’s what stands in the way

IN FULL

The Independent UK

22k gold rate today: Check 24k, 22k, 18k gold prices (May 7, 2026) on Malabar Gold & Diamonds, Joyalukkas, Tanishq, Kalyan Jewellers, IBJA

Gold and silver prices surged on Thursday, May 7, 2026, driven by easing global inflation concerns and positive diplomatic signals between the US and Iran. This de-escalation prospect led to a significant rally in both precious metals, with gold and silver rising 3% and 6% respectively.

The Economic Times

JD Sports says Iran war and youth unemployment to hit consumer spending

Retail group with 4,800 stores worldwide expects drop in profits this year amid ‘muted market’

The Guardian - UK

Vance’s close ties to Trump’s agenda could be his political undoing in 2028, strategists warn

Vice president may find himself facing ‘the Kamala Harris problem,’ conservatives caution

The Independent UK

UAE says air defences engaging with Iranian attacks – as it happened

This blog is now closed

The Guardian - UK

Warning ‘dramatic’ rise in food prices ahead as farmers feel the squeeze from Iran war

Fertiliser costs ‘problem for the world’, warns farming group controlled by Duke of Westminster

The Independent UK

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The Independent UK

Saudi Arabia forced Trump to pause Project Freedom after suspending US access to bases and airspace: report

The scheme is said to have angered Saudi leadership who were not consulted in advance

Euronews

Iran could strangle Strait in future crisis, ex-Trump envoy warns

After more than two months of war between the US and Iran, a deal appears in sight to end hostilities and reopen the Strait of Hormuz, one of the world's vital shipping routes. However, former Trump official Kurt Volker says the conflict has effectively handed control of the Strait to…

The Independent UK

Is Cuba next? US warns Havana is ‘a national security threat’ as Trump ramps up pressure

Marco Rubio said the likelihood of a diplomatic resolution is ‘not high’ given the current leadership

Evening Standard

Shell under fire over ‘outrageous’ profits after boost from soaring oil prices

Campaigners took aim at the group over its profits at a time when households and businesses are suffering from painful price rises.

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The Independent UK

AirAsia bets big on efficiency with order for 150 Airbus A220 jets listed for $19 billion

Budget airline AirAsia has announced an order for 150 Airbus A220-300 jets, valued at about $19 billion at list prices

The Guardian - UK

Vatican stresses need for peace as Rubio meets pope amid strained relations

US secretary of state speaks with Leo and officials after tensions following attacks by Trump over Iran war

The Independent UK

Iran war briefing: Tehran mulls US peace plan after Israel attacks Lebanon

IN FULL

International Business Times UK

Laura Loomer Claims FBI Warned Her of Iranian Assassination Plot as US-Iran Cyber War Intensifies

Laura Loomer says the FBI informed her she is being targeted by Iran, raising fresh questions about how far Tehran's cyber and physical operations now reach beyond government officials.

The Independent UK

JD Sports warns Iran war could push up price rises

The retail chain closed 24 stores, on a net basis, in the UK over the past year

The Guardian - UK

Financial stability risks are rising as AI fuels cyber-attacks, IMF warns; oil below $100 on Iran peace hopes – as it happened

Rolling coverage of the latest economic and financial news

The Independent UK

Shell profits rocket above £5bn for three months amid surging oil prices due to Iran war

The oil giant reported a 24% rise in underlying earnings to 6.92 billion US dollars (£5.09 billion)

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