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At a Pentagon briefing, Defense Secretary Pete Hegseth asserted that Iran’s request for a temporary cease‑fire was a direct result of the United States’ intensive air campaign, which he described as having reduced Iran’s weapons factories to rubble and rendered its military ineffective for years to come. Hegseth, standing beside Joint Chiefs Chairman Dan Caine, said the final wave of strikes before President Donald Trump announced a two‑week pause had completely destroyed Iran’s defense industrial base. While Iran can still fire from existing stockpiles, it can no longer replace lost munitions, according to the secretary. President Trump posted on Truth Social that he had agreed to suspend hostilities less than two hours before his self‑imposed deadline to “decimate the entirety of Iranian civilization.” The decision followed a last‑minute diplomatic push by Pakistan’s Prime Minister Shehbaz Sharif and army chief Gen Asim Munir. Iran’s foreign minister Abbas Araghchi confirmed Tehran’s acceptance of the pause, and the country’s supreme national security council announced it would send a delegation to Islamabad for formal talks starting Friday. Both sides claimed victory: Iran’s security council said it had achieved “nearly all the objectives of the war,” while the United States highlighted the crippling of Iran’s military capabilities. The cease‑fire ends a conflict that began on 28 February, when the U.S. and Israel launched nearly 900 strikes in a 12‑hour window against Iranian military infrastructure, missile sites, and leadership. The opening day saw the death of Supreme Leader Ali Khamenei, with his son Mojtaba Khamenei named successor on 8 March. Hegseth warned that the United States had prepared additional strikes on Iran’s power plants, bridges and energy infrastructure—targets he said Iran could not defend or rebuild for decades—if Tehran had refused the pause. According to Joint Chiefs Chairman Caine, 13 U.S. service members were killed during the fighting. Total casualties across the region exceed 5,000, including over 1,600 Iranian civilians and at least 1,497 deaths in Lebanon. By the sixth day of the war, U.S. military spending had reached roughly $12.7 billion, with a pending supplemental request of $200 billion before Congress. The future of a lasting settlement remains uncertain. Trump later announced that Iran would hand over its enriched uranium and cease all enrichment activities, while Iran’s supreme national security council released a 10‑point counter‑proposal that explicitly demands the right to continue enrichment. Disagreements also persist over the cease‑fire’s scope. Israel maintains that the pause does not apply to Lebanon, where ground and air campaigns are at their most intense since Israel’s northern invasion. Both Pakistan and Iran, however, have stated that Lebanon is included in the cease‑fire. Subsequent reports indicated Iranian missile and drone attacks on Kuwait and the United Arab Emirates, as well as strikes on Iran’s oil infrastructure on Lavan Island. Iran’s supreme national security council warned that its forces remain on high alert, stating, “our hands are on the trigger, and any mistake by the enemy will be met with full force.” When asked about the long‑term U.S. presence in the region, Hegseth replied unequivocally: “We’re not going anywhere.”

Anthropic, a San Francisco-based AI startup, has announced that its latest AI model, Claude Mythos, has proven highly effective in exposing software weaknesses. The model has identified thousands of vulnerabilities in commonly used applications, many of which have no patch or fix available.According to Mike Krieger of Anthropic Labs, the company has decided not to release Mythos to the public due to concerns about its potential misuse by hackers. Instead, Anthropic is collaborating with cybersecurity specialists and engineers in the open-source community to utilize the model as a defensive tool.The oldest vulnerability uncovered by Mythos dates back 27 years, and none were previously noticed by their creators. Anthropic has shared a version of Mythos with cybersecurity companies CrowdStrike and Palo Alto Networks, as well as with Amazon, Apple, and Microsoft, in a project dubbed “Glasswing”.“AI models have reached a level of coding capability where they can surpass all but the most skilled humans at finding and exploiting software vulnerabilities,” Anthropic said in a blog post. “The fallout – for economies, public safety, and national security – could be severe.”The project aims to protect critical infrastructure from cyber threats, with approximately 40 organizations involved in the design, maintenance, or operation of computer systems. Anthropic is providing about $100m worth of computing resources for the mission.

British Prime Minister Keir Starmer told reporters that the United Kingdom has a "job" to assist in reopening the Strait of Hormuz after reports that the vital oil corridor was blocked again just hours after a tentative cease‑fire was announced. The leader arrived at the King Fahd airbase in Taif, Saudi Arabia, where he met with British and local staff before embarking on a broader diplomatic tour of Gulf allies. The visit mirrors his recent push to shape a cease‑fire framework for Ukraine. While officials describe the trip as complementary to the Pakistan‑mediated talks between Washington and Tehran, many Gulf observers see Starmer as a more predictable partner than a United‑States administration that has been criticised for its unpredictable stance. The cease‑fire, brokered barely an hour before a deadline set by the U.S. president, included a clause to reopen Hormuz. Starmer’s itinerary follows a UK‑led gathering of military planners that explored practical steps for achieving that goal. Iran’s state news agency, Fars, claimed that Israeli actions in Lebanon breached the cease‑fire, prompting a fresh blockage of oil tankers in the strait. Later on Wednesday, Starmer is scheduled to meet Crown Prince Mohammed bin Salman. Their agenda is expected to cover the removal of Iranian mines and the insurance of tankers that rely on the Hormuz route for global oil shipments. "There are many practicalities and moving parts involved; this cannot be switched on instantly," a UK official explained, underscoring the complexity of the task. Addressing the media at the airbase, Starmer acknowledged the temporary relief provided by the cease‑fire but warned that the situation remains in its early stages. He emphasized that the UK’s priority is a permanent solution that restores full maritime traffic. "The impact on our energy prices is evident – we have seen daily fluctuations over the past 39 days. It is our responsibility to ensure the strait remains open so that the world’s energy needs are met and UK fuel prices stabilise," he said. Starmer has previously drawn criticism from former President Donald Trump for refusing to back the initial U.S.–Israeli strike on Iran and for limiting U.S. use of British bases to defensive missions, such as targeting Iranian missile sites. When asked about the risk of the UK becoming entangled in the conflict, Starmer reiterated that Britain acts only in collective self‑defence and that his mandate is to protect British lives and national interests, which includes keeping Hormuz open. The remainder of his Gulf itinerary has not been disclosed, and it remains unclear which other regional capitals he will visit after Saudi Arabia. One government source summed up the mission: "The cease‑fire is welcome, but the decisive factor for the British public will be a fully operational Hormuz Strait, which will have the greatest impact on domestic energy costs." The source likened Starmer’s role to his earlier effort in assembling the "coalition of the willing" that pledged to back any peace settlement in Ukraine, noting that this is his first opportunity to demonstrate solidarity with Middle‑East allies.

Shares of Close Brothers, a UK-based specialist lender, jumped 17% on Wednesday following the bank's announcement that it can easily absorb the cost of a £320m compensation bill related to the car finance scandal. The Financial Conduct Authority's (FCA) compensation scheme, finalized last week, aims to address the issue of drivers being overcharged for loans due to commission payments between lenders and car dealers.The bank expects to pay out approximately £320m in compensation, which is 'broadly similar' to previous estimates and only £26m more than the £294m already set aside. Close Brothers stated that this additional amount can be 'comfortably absorbed by existing capital resources,' ensuring the group remains well-positioned to continue its strategy.The FCA's compensation scheme estimates that victims will receive an average payout of £830. This development has provided relief to investors, especially after concerns were raised by short seller Viceroy Research, which suggested that Close Brothers might need to significantly increase its provision for car finance losses.In contrast, Close Brothers' rival, FirstRand, announced hours earlier that it would sell its UK operations, citing frustration with the FCA's compensation scheme, which it described as 'deeply flawed.' FirstRand stated it would need to raise an extra £510m to cover compensation costs, taking its total provisions to £750m, and potentially slash its earnings forecast and offload its UK business.

A Network Rail worker has emerged victorious in a race harassment case after his colleagues left an anti-Islam English Defence League (EDL) leaflet in his locker. Parmjit Bassi, based at Eastleigh depot in Hampshire, was found to be a victim of a racist attack when a co-worker stuffed the EDL leaflet in his locker, questioning what individuals were doing to protect their children from Islam.The leaflet, produced by the far-right group EDL, asked questions that implied a threat to the worker, regardless of his religious background. Bassi, who is not a Muslim, was also accused of committing a high-profile stabbing when colleagues placed a newspaper page in his locker about a knife attack.The Southampton employment tribunal ruled that the incidents were 'clear slights' against Bassi's race and that Network Rail managers had a 'laissez-faire attitude' towards them. The tribunal concluded that the company's inaction was 'weak management' that only strengthened the bullies' position at the expense of Bassi.Bassi successfully sued Network Rail and is now in line to receive compensation. The case highlights the importance of addressing workplace bullying and racial harassment. The tribunal's decision emphasizes that racial harassment can occur even if the victim does not belong to the targeted group, in this case, Islam.The incidents led to Bassi being moved to a different team and eventually dismissed in April 2021. He appealed against the decision but it was upheld, leading him to take Network Rail to the employment tribunal with claims of racial harassment and unfair dismissal, both of which were successful.

The US and Iran have agreed to a two-week ceasefire, leading to a decrease in UK interest rate hike expectations. City traders now predict only one rate rise by December, taking the Bank of England's base rate back to 4%. Previously, markets had priced in two rate hikes as tensions escalated, with Donald Trump warning of severe consequences if Iran did not comply with his demands. However, with the ceasefire in place, rate expectations have fallen, and only 32 basis points of hikes are now expected for the year, down from 62 basis points the previous day. The decline in rate expectations is linked to the significant drop in oil prices, with Brent crude down 13.3% to $94.71 a barrel. This decrease in oil prices could bring relief to UK consumers, potentially leading to lower petrol prices and easing inflationary pressures. Despite the current relief, experts caution that mortgage rates may not fall quickly. The average two-year fixed-rate mortgage has risen to 5.90%, the highest since July 2024. Analysts suggest that while the ceasefire may slow or pause mortgage rate increases, it is unlikely to trigger sharp falls. Chris Beauchamp, chief market analyst at IG, notes that the ceasefire brings relief for UK consumers but emphasizes that the chances of a rate hike by the Bank of England have been reduced. He adds that the 'heady days' of sustained rate cuts are unlikely to return in the short term. Adam French, head of consumer finance at Moneyfacts, advises that while easing tensions have pushed down expectations for future interest rate rises, mortgage rates are likely to remain higher for some time yet, with lenders cautious about making sudden moves due to market volatility.

The US seafood industry is tackling a significant challenge: Americans' low fish consumption. With an average annual intake of about 19lb per person, the US lags far behind the global average of 45lb. In contrast, Iceland leads the world with an impressive 200lb of seafood per person per year.To crack the US market, the seafood industry has devised a strategy to make fish more appealing by making it look like meat. This approach involves creating products such as tuna that resembles chicken nuggets and salmon sticks that look like beef jerky. This tactic is similar to hiding vegetables in recipes for picky toddlers, but with a twist: it's about presentation rather than altering the product's nature.This isn't a new concept, as plant-based meat gained popularity when placed in the meat department rather than the vegetarian aisle. Similarly, fish-as-meat marketing has been around with products like tuna steaks and salmon burgers. However, the trend seems to be gaining momentum, with recent reports from the Seafood Expo circuit indicating a surge in interest.While this strategy may be effective, its environmental implications are questionable. With 348 million people in the US potentially increasing their seafood consumption, concerns about overfishing and the collapse of marine life arise. Guardian columnist George Monbiot has argued that there are almost no fish or shellfish that can be safely eaten if the goal is to save the oceans, suggesting that stopping fish consumption is a more impactful action.The success of this strategy may also be influenced by economic factors, such as food inflation and tariffs. If supply chains collapse due to global conflicts, the demand for Fishy Meat may become irrelevant as Americans struggle to afford basic food items.

British Prime Minister Keir Starmer embarked on a visit to the Gulf on Wednesday, following a two-week ceasefire agreement between the US and Iran. This development brings a moment of relief to the region and the world, as stated by Starmer.The ceasefire, agreed on Tuesday evening, effectively cancels a self-imposed deadline by US President Donald Trump for Iran to surrender or face widespread destruction. Starmer emphasized the need for the international community to support and sustain this ceasefire, with the goal of turning it into a lasting agreement.During his visit, Starmer will discuss diplomatic efforts to uphold the ceasefire and protect the UK and global economy, which has been impacted by the conflict. The British government aims to reopen the Strait of Hormuz, a crucial oil and gas shipping route that has been closed since US-Israel attacks began.The visit comes amid mounting pressure on Starmer to limit US access to British airbases, following Trump's warning that a 'whole civilization will die' if Tehran did not comply with his demands. Trump's comments were criticized by military observers and retired officers as 'likely war crimes'.British Foreign Secretary Yvette Cooper has been in talks with US Secretary of State Marco Rubio, urging a swift end to the conflict and giving the UK's backing to negotiations. Cooper and Rubio also discussed international efforts to open the Strait of Hormuz, including a UK-led meeting that brought together over 40 countries to pursue reopening.

The Black Death, which occurred between 1346 and 1353, was a pandemic that killed an estimated 100 million people, making it the most lethal natural disaster in human history. Historian Thomas Asbridge argues that the plague was more global than previously thought, affecting not just Europe but also the medieval world, including Sicily, Egypt, Syria, Spain, Sweden, and Russia.In his book, 'The Black Death: A Global History', Asbridge explores the social and economic impact of the pandemic, including the rise of antisemitism and the blaming of Jews for the plague, which led to massacres and persecution. He also examines the long-term consequences of the pandemic, including the end of serfdom and the weakening of the Byzantine Empire.Asbridge's work is based on a thorough analysis of contemporary chronicles and bureaucratic records, which provide a vivid picture of life during the pandemic. He also highlights the resilience of society during this time, with most people continuing to work and care for their loved ones, even in the face of overwhelming death and destruction.The book is a magisterial survey of the Black Death, offering a comprehensive and engaging history of one of the most significant events in human history. Asbridge's work is a timely reminder of the ongoing threat of pandemics and the importance of understanding their impact on human society.