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Iran has deployed small surface vessels to lay mines in parts of the Strait of Hormuz, a critical waterway for global shipping. The exact number of mines laid is unknown, but Iran has left a path open to ships that are prepared to pay a toll.According to US officials, Iran has indicated that it cannot locate all of the mines that it has laid and lacks the capability to remove them. The mines are part of an array of offensive options available to Iran in the strait, including cheap drones, anti-ship missiles, and fast-attack small vessels.Iran is thought to have deployed two main types of mine: the Maham 3 and the Maham 7. The Maham 3 is an anchored, 300kg mine that can be used in waters as deep as 100 meters, while the Maham 7 is a bottom-resting 220kg mine for use in shallower waters.The US plans to use uncrewed marine mine-hunting vehicles, such as the Knifefish undersea mine hunter, to clear the mines. The US could also deploy the AN/ASQ-235 (Archerfish) airborne mine neutralization system from an MH 60S helicopter.The global economy's reliance on maritime trade gives countries deploying mines an outsized leverage compared with the relatively low cost of laying the mines. It takes only a small number of mines to close sea lanes, not least because some mines can be set to detonate after a certain number of ships have passed over, creating uncertainty.

Next chief executive Simon Wolfson received a record pay package of £7.4m last year, up from £4.9m the previous year. His remuneration includes a basic salary of £967,000, a maximum annual bonus of £1.45m, and a long-term bonus of £4.7m. The pay increase comes as Next aims to align Wolfson's remuneration with industry standards, citing that his previous pay was 30% below the average for FTSE 100 bosses. The company's remuneration committee stated that the changes were necessary to retain and motivate its high-quality management team. Wolfson's pay package for this year could reach up to £9.27m, with his basic annual salary increasing by 3% to £1m, his maximum annual bonus rising to 200% of salary from 150%, and his long-term bonus potential increasing to 400% of salary from 225%. The changes are part of Next's efforts to ensure that its executive compensation is competitive and aligned with performance. The company's decision to increase Wolfson's pay comes on the back of Next's improved financial performance, with the retailer upping its profit guidance to £1.2bn for the year to January 2027 after better-than-expected sales in January.

Senate Democrats have moved to stall President Donald Trump's bid to install a new leader of the US Federal Reserve, condemning the move as 'absurd' given ongoing criminal investigations into the central bank's leadership.Democratic lawmakers on the Senate banking committee urged its Republican leadership to postpone the planned confirmation hearing for Kevin Warsh, the financial executive and former Fed governor Trump has nominated to replace Jerome Powell as Fed chair.In a letter to banking committee chair Senator Tim Scott, the 11 Democrats called for a hearing currently scheduled for Tuesday to be delayed until investigations into Powell and Lisa Cook, a Fed governor, are closed.Powell is facing a criminal investigation into the renovations of the central bank's headquarters, which he dismissed as a 'pretext' tied to the Fed's refusal to bow to Trump's demands. The Trump administration also tried to fire Cook, an appointee of Joe Biden, for alleged mortgage fraud.The Democratic senators wrote in their letter to Scott: 'It would be absurd on its face to allow President Trump to handpick the next chair of the Federal Reserve as his Department of Justice actively pursues criminal investigations of not one, but two sitting members of the Federal Reserve board.'Warsh's nomination also faces hurdles from within the president's own party, with outgoing GOP senator Thom Tillis stating he would not support any nomination as long as there is an investigation into Powell.

Metro Bank has approved a £2.6 million annual remuneration package for chief executive Dan Frumkin, the highest ever for the lender since its 2010 launch. The figure more than doubles the £1.2 million he earned in 2024. The pay rise comes on the heels of a dramatic restructuring that saw the bank cut over 1,000 jobs in spring 2024 and suspend Sunday trading, measures taken after a £925 million rescue led by Colombian billionaire Jaime Gilinski Bacal, who now owns 53% of the institution. Metro’s turnaround has delivered a record pre‑tax profit of £87 million for 2025, prompting the board to approve a complex bonus scheme. The package includes a £1.2 million annual bonus, a £470,000 deferred bonus from 2023, and a salary of £938,875, plus additional tax, life‑insurance and pension benefits. Under the scheme, Frumkin could earn up to £60 million over five years if Metro’s share price exceeds certain thresholds – it must stay above 120p in 2028 and could reach 437p, a level that would trigger the maximum payout. Metro’s shares currently trade around 141p. The bonus plan was endorsed by 88.6% of voting shareholders, despite objections from proxy advisers ISS and Glass Lewis. The bank did not disclose how many of those votes were cast by Gilinski’s holdings. Founded by US billionaire Vernon Hill, Metro Bank distinguished itself with dog‑friendly branches and seven‑day opening hours. However, a 2019 accounting error forced the resignation of its founder and top executives, and the bank struggled to satisfy regulators, leading to the 2023 capital infusion. In a statement, a Metro Bank spokesperson said the remuneration committee’s approach is “based on the delivery of long‑term growth generation and the continued turnaround of the bank,” emphasizing alignment with shareholder interests. Frumkin, who joined Metro in 2020 after senior roles at RBS and Northern Rock, now stands at the centre of a debate over executive pay in a sector still recovering from the 2007‑08 financial crisis.

Aldo d’Aponte, 47, the CEO of Arbitrage Group Properties, pleaded guilty to writing two letters, supposedly by his neighbours, objecting to the reopening of Heaven nightclub in central London. The letters were generated using artificial intelligence and were sent via an encrypted email address to council officials.The nightclub had its licence suspended in November 2024 after a 19-year-old woman accused a bouncer of rape. It was allowed to reopen with enhanced welfare and security policies after a council hearing held a month later. The worker was later found not guilty of the alleged offence.During the council hearing, council officials received letters, sent via an encrypted email address, all of which were detailed in their complaints about the nightclub. Philip Kolvin KC, a planning lawyer, decided to investigate the letters pro bono, because while acting for the nightclub during the licence suspension his suspicions were aroused by the unusual character of the objection to the nightclub reopening.When the letters were put through an AI detection generator they were identified as almost certainly written using artificial intelligence. His research found that the people who had apparently written the complaints did not appear to exist, or at least did not live at the addresses they listed as their own.Police traced the IP addresses linked to two of the letters to d’Aponte. He was given a 12-month conditional discharge and ordered to pay £85 costs and a £26 victim surcharge.Kolven said he had “felt very sorry” for the nightclub owner, who had found the objection letters “traumatic”. “This whole situation is open to abuse if councils are not alert to this problem and not checking the veracity of these objections,” he said.The Guardian understands there are two further live cases police are exploring regarding false representations written by AI.

Bayern Munich's thrilling 4-3 win over Real Madrid on Wednesday secured their spot in the Champions League semifinals, setting up a meeting with PSG. Harry Kane made another difficult finish look routine, scoring his 50th goal of the season. The game had it all, including controversy, with a post-match scuffle set off by Madrid players enraged by Eduardo Camavinga's dismissal. PSG's leading man, Ousmane Dembélé, may be finding form at the right time, reflecting a team that has finally achieved their goal of becoming European champions and having a Ballon D'Or winner at his peak. PSG eventually picked off Liverpool thanks to two late Dembélé goals, advancing to the semifinals. A summer of change in the elite coaching ranks approaches, with vacancies likely at Real Madrid and several Premier League clubs. Diego Simeone is likely to stay at Atlético Madrid, having completed the job against Barcelona. This is the fourth semi-final for Simeone, three of which have come at Barcelona's expense. Harry Kane deserves a mention for his display of supreme footballing intelligence, combining playmaker and finisher skills. English football misses him, but his time in Germany has made him a yet better player. Looking ahead, another blockbuster will follow when PSG travel to Bayern in the first leg of their semi-final. Vincent Kompany is banned from Bayern's bench after protesting against Madrid's third goal. A second successive semi-final for Arsenal, and a familiar opponent in Simeone's Atléti, promises to be an exciting matchup.

New Jersey Governor Mikie Sherrill publicly challenged FIFA after reports surfaced that round‑trip train tickets from New York’s Penn Station to MetLife Stadium could exceed $100 for the 2026 World Cup. Current NJ Transit listings show a standard fare of $12.90 for the same route, but a recent The Athletic report suggests the price could jump dramatically, with no discounts for children, seniors or people with disabilities. NJ Transit told Fox 5 New York that the final fare has not yet been set, but a decision is expected within days. In a social‑media post, Governor Sherrill emphasized that the state inherited an agreement in which FIFA contributes $0 toward transportation, leaving New Jersey Transit with a projected $48 million bill to safely move an estimated 40,000 fans to each of the eight matches, including the final. "FIFA is making $11 billion off this World Cup and charging fans up to $10,000 for a single ticket for the final," Sherrill said. "I won’t let New Jersey commuters shoulder that cost. FIFA should pay for the rides, and if they don’t, I won’t let our residents be taken for a ride." Sherrill added that she would approve any fare increase if FIFA does not intervene, stating, "I will, if that’s what it takes, because I’m not putting it on the backs of New Jerseyans." On Wednesday, NJ Transit’s board unanimously passed a resolution empowering CEO Kris Kolluri to set World Cup rail fares at levels sufficient to "cover any and all costs" associated with transporting the projected fan volume. Kolluri confirmed that the fare structure will not be cross‑subsidized by regular commuters. New York City Mayor Zohran Mamdani backed Sherrill’s stance, noting that FIFA often offloads costs onto local municipalities and suggesting that a partnership could make the event more affordable for everyone. FIFA responded by highlighting the original 2018 Host City Agreements, which required free transportation for fans, and noting a 2023 amendment that shifted to a "cost‑to‑use" model. The organization also claimed it had advocated for federal funding to support host‑city mobility plans. Sherrill, a Democrat elected last year on a platform of affordability, has already redirected $5 million earmarked for a fan festival at Liberty State Park toward smaller watch parties across the state. Transportation pricing for this World Cup has become a broader discussion, with Massachusetts raising its Boston‑to‑Foxborough fare from $20 to $80, underscoring growing concerns over fan‑accessibility and cost burdens.

Chelsea FC has received a significant boost with the news that midfielder Moisés Caicedo has verbally agreed to a new deal with the club. The Ecuador international, who joined Chelsea from Brighton in 2023 for a British record fee of £115m, has extended his contract until 2033.This agreement follows Reece James, another key player for Chelsea, who extended his contract last month. The commitment from these top players is seen as a show of unity in the dressing room, especially crucial with a fan protest against the board scheduled before the upcoming match against Manchester United.Caicedo, who captained the side against Manchester City last weekend, is expected to receive a pay rise as part of his new agreement, reflecting his excellent performances. Chelsea's ownership, BlueCo, can point to these contract extensions as evidence of stability and commitment from their key players.The new deal comes at a critical time for Chelsea, who are under pressure following their exit from the Champions League and the recent controversy surrounding Enzo Fernández's desire to join Real Madrid. The club is set for another significant summer, with plans to strengthen their squad, particularly in key positions such as centre-back and central midfielder.

Arsenal's Premier League title hopes hang in the balance as they prepare to face Manchester City on Sunday. Midfielder Declan Rice has urged his team to elevate their performance, acknowledging that their recent form has been a concern.Rice, 27, highlighted the team's inconsistent style of play, which has drawn criticism from fans. Despite being six points clear of City at the top of the table, Rice emphasized that Arsenal must improve if they are to press their title claims.The midfielder reflected on a rollercoaster few weeks for Arsenal, including a Carabao Cup final defeat against City and a sobering home loss to Bournemouth in the league. However, they have also shown resilience, progressing to the Champions League semi-finals with a 0-0 draw against Sporting.Rice stressed the importance of performing better, particularly in terms of possession and confidence on the ball. He acknowledged that the team's recent errors have been costly, but they managed to rectify this against Sporting.“It's about doing the basics a little bit better, to a better level … just the five-, 10-yard passes that we're giving away a bit sloppily,” Rice said. “And just that confidence with the ball, just taking more touches, relaxing on the ball, not feeling under pressure.”Rice also expressed his desire for revenge against City, citing the pain of watching them lift the Carabao Cup trophy. He emphasized that the upcoming match is a significant test, but one that Arsenal is ready for.“To go there and win would be a massive statement,” Rice said. “And look, these boys are ready. We spoke as a group. We know what's required.”Arsenal have struggled to score in recent games, managing only three goals in their last five matches. Rice attributed this to the defensive strategies employed by opposing teams, particularly the low blocks they have faced.Despite these challenges, Rice remains committed to contributing to the team, having overcome illness to play against Sporting. He emphasized the importance of availability and depth, particularly with key players like Martin Ødegaard and Bukayo Saka sidelined through injury.