These numbers show the global impact of Iran's grip on the Strait of Hormuz Iran’s grip on the Strait of Hormuz has jolted the world economy The Independent UK · May 7
Iran gives rare update on health of new supreme leader Mojtaba Khamenei IN FULL The Independent UK · May 7
Fed Officials Voice Growing Concern Over Inflation And Supply Chain Pressure From Iran War Officials at the Federal Reserve are increasingly concerned over the economic fallout from the US-Israeli war with Iran, with several of them warning that inflation risks are becoming harder to contain as the conflict drags on. International Business Times · May 7
Florida Wins the Curriculum Wars Plus: French ship attacked, pro se on the rise, Mamdani's grocery store, and more... Reason · May 7
Trump posts chart bragging about how the Iran War is shorter (so far) than WWII or Vietnam Trump’s graphic claimed the ‘Iran Excursion’ had been going on for six weeks The Independent UK · May 7
How UK 30-year bonds reached the highest yield this century and why it matters Investors are demanding significantly higher returns to hold British debt as 30-year gilt yields reached levels not seen since 1998 this week. The surge represents a major challenge for the UK Treasury but why did it happen and what does it mean exactly? Euronews · May 7
Iran conducting near-daily prisoner executions in secrecy, say rights groups Families pressured to stay silent, with at least 24 executions reportedly taking place since March amid internet blackout The Guardian - UK · May 7
Trump Halted Hormuz Operation After Saudi Arabia Refused Military Access - REPORT President Donald Trump's abrupt decision to pause "Project Freedom," the U.S. military operation aimed at reopening shipping routes through the Strait of Hormuz, reportedly came after Saudi Arabia refused to allow American forces access to its airspace and military facilities, according to NBC News. Latin Times · May 7
Democratic senators press US military on Israel's evacuation zones, warning of legal risks Twelve U.S. Democratic Senators have asked the U.S. Central Command about coordination with Israel on evacuation zones in Lebanon and Iran The Independent UK · May 7
U.S. Allies Reportedly Took Measures Against Washington Over Operation To Help Ships Through Strait Of Hormuz The Trump administration cancelled its operation to help ships transit through the Strait of Hormuz despite Iran's blockade following backlash from Saudi Arabia, according to a new report. International Business Times · May 7
UK construction firms face some of sharpest cost rises in nearly 30 years Monthly rise in prices of fuel and raw materials, driven by Iran war, is one of steepest since survey began in 1997 The Guardian - UK · May 7
What Iran’s absence from the Venice Biennale reveals about art and politics Just days before the opening of the 2026 Venice Biennale, organisers announced that Iran would no longer participate. The Conversation · May 7
Pakistani Mediators Reportedly Optimistic About Progress To End Iran War Pakistani mediators are optimistic about progress being made to end the war in Iran, according to a new report. International Business Times · May 7
Iran's president says he met Ayatollah Mojtaba Khamenei amid persistent health rumours As speculation grows over the possibility of an agreement between Iran and the US, Pezeshkian said he had met with the new Ayatollah Mojtaba Khamenei, who is still to appear in public following his appointment. Euronews · May 7
The Guardian - US · May 7 Diesel prices squeeze US farmers ‘barely getting by’ amid tariffs and drought US war with Iran drives diesel fuel prices up during spring planting season, ‘hitting us at the wrong time’, farmers say
The Independent UK · May 7 Iran releases video of what it says is recon drone shot down over Strait of Hormuz Iran has released footage of what it says is a shot down combat reconnaissance drone over the Strait of Hormuz.
Euronews · May 7 Shell profits surge as Iran war drives oil prices higher Europe’s biggest energy company reported a jump in first-quarter profits as the war involving Iran and the effective closure of the Strait of Hormuz pushed oil and gas prices higher.
Euronews · May 7 Iranians at home divided between hope for regime change and war fears People in Iran who spoke to Euronews said they were torn between hope for regime change and fear of devastation, while reflecting on US-Israeli strikes, rising hardship and fading support for war.
The Guardian - US · May 7 Trump’s Iran war may stymie climate gains with boost to big oil, experts say Windfall profits could lock in Trump-era political wins for the industry and slow clean-energy transition
The Guardian - UK · May 7 Airlines still have to pay compensation if flights cancelled due to fuel crisis, EU says Ryanair says that unlike others it will not be cancelling summer flights as it hedged fuel contracts before Iran war
Salon · May 7 "Affordability hoax" could doom Trump A stagnant economy and a crisis in Iran doomed one president. Donald Trump could be next
The Economic Times · May 7 Emirates rides out Iran war fuel turmoil Emirates airline achieved a record $5.4 billion net profit, bolstered by strong cash reserves and effective fuel hedging. Despite disruptions from the Iran war and rising jet fuel prices, the carrier is proceeding with aircraft deliveries and a retrofit program, aiming to restore pre-disruption capacity.
International Business Times UK · May 7 Airlines Cut 2 Million Seats Worldwide in May Alone — Is This the End of Ultra-Cheap Flights? Global airlines are reducing routes and increasing fares due to surging jet fuel prices, exacerbated by the Iran conflict. Budget carriers face the greatest challenges, prompting calls for federal relief.
Barchart · May 7 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.
The Times of India · May 7 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.