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Wall Street climbed to a fresh all‑time high on Wednesday as investor confidence rose on the prospect that the US‑Israel war with Iran could soon end.The benchmark S&P 500 closed at 7,022.95, breaking the 7,000‑point barrier for the first time and posting a 0.8% gain. The tech‑heavy Nasdaq surged 1.6% to 24,016.02, also a record, while the Dow Jones Industrial Average remained broadly flat.This rally has erased the steep losses recorded during the early weeks of the conflict, buoyed by the two‑week cease‑fire deal announced last week between the United States and Iran.In a Wednesday interview, former President Donald Trump told Fox Business the war was “very close to over,” a statement that lifted trader sentiment.The White House later clarified it had not requested an extension to the cease‑fire, which is set to expire on 22 April, but said negotiations were “productive and ongoing.”Quarterly earnings from Bank of America and Morgan Stanley beat market estimates, reinforcing confidence in the economy. Bank of America CEO Brian Moynihan highlighted strong consumer spending, improving credit quality, and increased corporate line usage.Despite reports that the United States is preparing a naval blockade of the Strait of Hormuz—a chokepoint for roughly a fifth of the world’s oil and gas shipments—the markets stayed upbeat. The Pentagon has deployed 15 warships and thousands of service members to enforce the restriction.Oil markets reacted positively to the cease‑fire news, with Brent crude falling about 10% to around $95 a barrel, though this price remains roughly 35% above pre‑conflict levels.

Madonna has confirmed the arrival of her 15th studio album, "Confessions II," positioned as a direct follow‑up to the 2005 disco‑infused masterpiece Confessions on a Dance Floor. The new record is scheduled to drop on 3 July 2026 and reunites the pop icon with British producer Stuart Price, who helmed the original. In a candid statement, Madonna framed the project as a manifesto for dance: "We must dance, celebrate, and pray with our bodies… the dance floor is a ritualistic space where we connect with our wounds and fragility." She emphasized that rave culture is an art form that reshapes perception through sound, light, and vibration. The artist also quoted lyrics from a forthcoming track, One Step Away, underscoring the theme: "People think that dance music is superficial, but they’ve got it all wrong. The dancefloor is not just a place, it’s a threshold—a ritualistic space where movement replaces language." Accompanying the announcement, Madonna posted a YouTube teaser featuring a deep‑house groove layered with a spoken soliloquy: “Thanks for coming… on the dancefloor I feel so free.” The video, embedded below, offers the first audible glimpse of the album’s direction. Critics anticipate that Confessions II will revive the nightclub‑centric sound that powered hits such as Vogue, Music and the Abba‑sampled lead single Hung Up. Those tracks cemented Madonna’s return to global mega‑pop status after the lukewarm reception of 2003’s American Life. Since the original Confessions, Madonna has explored a variety of styles—pop, R&B, hip‑hop on Hard Candy, MDNA, and Rebel Heart, then the eclectic, Portuguese‑fado‑infused Madame X. She has also revisited her back catalogue with releases like Veronica Electronica (remixes from the Ray of Light era) and the EP Bedtime Stories: The Untold Chapter, which unearthed demos from 1994. Stuart Price, known for projects such as Les Rythmes Digitales, Zoot Woman and Thin White Duke, previously helped shape Confessions on a Dance Floor into a chart‑topping phenomenon—"Hung Up" reached No. 1 in 41 countries, and its follow‑up single "Sorry" topped the UK charts. Madonna’s recent collaborations include the track Popular with The Weeknd and Playboi Carti for the TV series The Idol, as well as a partnership with Christine and the Queens, signaling her continued relevance across genres. After surviving a severe bacterial infection in 2023 that required a medically induced coma, she launched the expansive Celebration tour, culminating in a historic concert for 1.6 million fans in Rio de Janeiro. The upcoming album therefore arrives at a moment when Madonna’s live presence and cultural influence are at a peak.

Pet owners in Britain may soon be barred from purchasing flea‑control products for cats and dogs at local shops. The government has opened an eight‑week public consultation to consider restricting sales to veterinarians or pharmacists, arguing that professional oversight will ensure correct usage and reduce environmental harm. Current regulations allow these topical treatments—containing potent insecticides such as fipronil and imidacloprid—to be bought in any pet store. Once applied, the chemicals disperse into the animal’s fur, enter waterways through washing or swimming, and have been linked to songbird nest failures and massive bee mortality. Water minister Emma Hardy emphasized the government’s commitment to “restore nature and clean up our rivers,” noting that while the products are vital for pet health, their distribution should be limited to professionals who can advise on safe application. Research funded by the Veterinary Medicines Directorate (VMD) found that pet owners’ use of these treatments contributes to detectable levels of fipronil and imidacloprid in rivers and lakes. Environment Agency data reveal fipronil residues in 98% of water samples and imidacloprid in 66%, often exceeding toxicity thresholds for aquatic insects. One monthly flea treatment for a large dog contains enough imidacloprid to kill 25 million bees, underscoring the broader impact on pollinator populations. In the UK, fipronil is an ingredient in 66 veterinary products, while imidacloprid appears in 21. Abigail Seager, chief executive of the Veterinary Medicines Directive, acknowledged the dual role of these chemicals in protecting pets and people from parasites, but warned that “they are entering our waterways and may be having wider environmental impacts.” She called for diverse stakeholder input to balance medicine availability with ecological protection. The consultation follows a recent governmental pledge to ban imidacloprid and two other neonicotinoids—clothianidin and thiamethoxam—from agricultural use, reflecting a broader strategy to safeguard biodiversity.

The future of the LIV Golf series hangs in the balance after Saudi Arabia’s Public Investment Fund (PIF) signaled a possible withdrawal of its multi‑billion‑dollar support. Executives were summoned to a high‑stakes meeting in New York this week, a development that follows growing speculation that the rebel tour could be shut down. While the fifth season’s sixth event in Mexico City is set to proceed on Thursday, the tournament is being eclipsed by reports that PIF intends to cut the tour’s funding. The tour has already faced challenges securing a merger with the PGA Tour despite a three‑year “framework agreement,” and the funding pull would exacerbate its financial strain. According to the PIF’s newly released five‑year economic strategy, the fund is prioritising sustainable domestic investments and has omitted sport from its seven key focus areas. This shift signals a move away from the “free‑spending, disruptive internationalism” that characterised the launch of LIV Golf in 2021. Since its inception, PIF has poured over $5 bn into the tour, but this year prize money and bonus payouts have already been slashed. High‑profile players such as Phil Mickelson, Dustin Johnson, Jon Rahm, Sergio García and Bryson DeChambeau initially defected from the PGA and DP World Tours, yet recent defections back to the PGA—including Brooks Koepka and Patrick Reed—highlight the tour’s precarious position. DeChambeau has yet to sign a new contract. A source familiar with the Saudi Ministry of Sports confirmed that the fund is redirecting its sports budget toward football and esports, with golf no longer a priority. The same source noted that PIF is ending its partnership with the Women’s Tennis Association, and the three‑year WTA Finals deal in Riyadh will not be renewed after its November expiry. The rumours ignited on Tuesday after journalist Ryan French posted on X that multiple sources warned of a “bombshell announcement” on LIV’s future, later suggesting the tour might be shutting down. LIV officials and players have not received any formal update. In Mexico, Sergio García told reporters they have only heard the same message from PIF chief Yasir al‑Rumayyan at the start of the year: that the project is a long‑term commitment, and that rumours are inevitable. Technical glitches, including an alleged power failure at the venue, forced the cancellation of pre‑tournament press conferences on Tuesday. Nevertheless, the pro‑am competition resumed on Wednesday at 8:30 a.m. local time, indicating that day‑to‑day operations continue despite the uncertainty. The outcome of the New York meeting could determine whether LIV Golf survives as a viable alternative to traditional tours or becomes another casualty of shifting Saudi investment priorities.

British Chancellor Rachel Reeves has stepped up her criticism of Donald Trump's war on Iran, describing it as a 'mistake' that has destabilized the global economy and damaged living standards around the world.In a marked fraying of the transatlantic relationship, Reeves said Trump's decision to break off from diplomatic talks with Iran and launch airstrikes seemed to have left the president in a worse place than he started.“I think it was a mistake to end those [talks with Iran] and to enter into conflict, because I'm not convinced that we are safer today than we were a few weeks ago,” she told an event in Washington.Reeves' comments added to blunt criticism of Trump she made just before flying out on Tuesday, when she expressed frustration at the 'folly' of his decision to go to war without a clear exit plan.The criticism adds to an increasingly tense atmosphere between Downing Street and the White House, with Trump's attacks on Prime Minister Keir Starmer becoming increasingly personal.The IMF warned on Tuesday that a further escalation in the Iran war could trigger a global recession that would affect the UK more than any of the other G7 nations.Reeves called for the urgent reopening of the strait of Hormuz to calm global energy prices, saying the lack of clear US targets in negotiations with Iran had worsened the situation.“We had the waterway open a few weeks ago. So, if now the objective is to reopen the strait of Hormuz? Well it was open at the beginning of this conflict,” Reeves added.Reeves said she had come to the IMF meetings to “deliver that fair message” that the conflict in the Middle East was hitting living standards worldwide and required urgent de-escalation.

The EU's new entry-exit system (EES) has caused significant delays at several European airports, with travellers waiting up to three hours at border checks. The system, which came into effect on Friday in the Schengen countries, requires passengers from non-EU countries to register their personal information and biometrics at the border.Passengers in airports in countries such as France, Germany, Belgium, Italy, Spain, and Greece are experiencing several hours of waiting at border checks, according to the Airports Council International (ACI) body. Olivier Jankovec, the director of the ACI European division, warned that the situation will be "simply unmanageable" in the coming weeks and peak summer months.The EES has been gradually introduced since October and has already caused long delays at some airports. On Sunday, the BBC reported that more than 100 passengers were unable to board an easyJet flight from Milan to Manchester before it took off due to delays at passport desks.Airport representatives and the European Commission held a meeting to discuss problems with the system on Tuesday. The ACI has asked to extend existing exemptions and the power to fully suspend the new checks. Jankovec told the FT that the ACI needed the ability to "fully suspend EES registration whenever there are excessive waiting times at border control that are just unmanageable".A spokesperson for the European Commission said that the system is working well, with an average registration time of 70 seconds per passenger. However, the ACI has claimed that it can take up to five minutes. The commission said that there were a "few member states where technical issues have been detected" but that they "are being addressed".The EES has registered more than 52m entries and exits, as well as more than 27,000 refusals of entry, since its introduction in October. Almost 700 people were identified as posing a security threat.

President Donald Trump announced on Fox Business that he will dismiss Federal Reserve Chair Jerome Powell if the central‑bank chief does not vacate the post by the statutory end of his term on May 15. “I’ll have to fire him, OK, if he’s not leaving on time,” Trump said, adding that he had previously held back the decision to avoid controversy. Powell, who has just over a month left in his tenure, has repeatedly been criticized by Trump for what the president calls a “bad job” and for refusing to lower interest rates despite Trump’s repeated demands since his return to the White House in January 2025. In January, Trump nominated former Fed governor Kevin Warsh to replace Powell. Warsh, known for his criticism of the Fed’s relatively high rates, is expected to align more closely with Trump’s push for rate cuts. His confirmation hearing before the Senate Banking Committee is slated for April 21, but the outcome remains uncertain. Republican Senator Thom Tillis of North Carolina, a member of the banking committee, has signaled he will block Warsh’s nomination until the Department of Justice concludes its criminal investigation into alleged misconduct surrounding the Fed’s headquarters renovation in Washington, D.C. Tillis described the probe as “reaching the point of absurd,” yet insists the investigation must be resolved before moving forward. The probe appears active: prosecutors made an unannounced visit to the construction site this week, as reported by the Wall Street Journal, underscoring the seriousness of the inquiry. During the same interview, Trump dismissed the investigation’s relevance, claiming the project was “probably corrupt, but what it really is is incompetence,” and questioned whether a $25 million renovation could balloon to a $4 billion expense. Powell responded in January with a rare public rebuke, labeling the investigation a “pretext” aimed at pressuring the Fed to lower rates. He warned that political intimidation could jeopardize the Fed’s ability to set monetary policy based on economic evidence. The legal backdrop adds another layer of uncertainty. The Supreme Court has yet to rule on Trump’s authority to fire a Fed board member without cause—a question that resurfaced after the president’s attempted removal of Fed governor Lisa Cook last summer. Justices appeared skeptical of such unilateral action during oral arguments in January. With the Fed’s independence at stake, the coming weeks will determine whether Trump’s threat translates into action, whether Warsh can secure Senate confirmation, and how the renovation investigation will influence the broader debate over political interference in U.S. monetary policy.

Bournemouth have entered advanced talks with German manager Marco Rose to succeed Andoni Iraola as head coach, with a deal expected to be finalised before the week ends.The club also evaluated Kieran McKenna of Ipswich Town, but his contract contains a buyout clause that prevents any approach until the Championship season concludes.McKenna, who is focused on guiding Ipswich back to the Premier League, is likely to be retained by the club, which is expected to resist any premature poaching.Rose’s immediate availability makes him a simpler option. Tiago Pinto, Bournemouth’s head of football operations, is pushing for a swift appointment as the club prepares to move on from the Iraola era, following the Spaniard’s decision not to extend his contract beyond the current campaign.Since being dismissed by RB Leipzig in March 2025, Rose has been out of work. He previously led Borussia Dortmund in the Champions League, overseeing talents such as Erling Haaland and Jude Bellingham. Known for a high‑intensity pressing style, Rose’s philosophy aligns with Bournemouth’s desired playing identity. His résumé also includes successful spells at Borussia Mönchengladbach and RB Salzburg.

The Fallen by Louise Brangan offers a meticulously researched portrait of the Magdalene laundries, the most notorious component of Ireland’s 20th‑century network of correctional institutions. The review notes that, at their peak in 1951, the country held 70 women per 100,000 in these laundries compared with 27 men per 100,000 in prisons, underscoring the laundries as the primary carceral system for females. Although established under state authority, the facilities were operated by Catholic nuns. Girls as young as nine and women into their eighties were compelled to work six days a week, without wages, on arduous, often hand‑operated machinery. Discipline was severe, and any minor infraction could trigger harsh punishment. The book illustrates how women were funneled into the system with little justification. Brangan recounts the case of a 15‑year‑old named Eileen, who vanished in February 1954 after being approached by members of the Legion of Mary—a lay group tasked with policing Ireland’s moral standards. She was taken to a gated house marked “Saint Mary Magdalen’s Asylum,” stripped of her identity, and assigned the number “60.” The narrative emphasizes that many detainees were simply “wayward or unwanted”—homeless, abused, or otherwise marginalized—rather than having committed any serious crime. Brangan draws a stark parallel between the Catholic Church’s grip on Irish society and the Communist Party’s control in Eastern Europe before 1989, suggesting both operated as pervasive, authoritarian forces. The laundries, though conspicuously situated among ordinary businesses, were largely ignored by a public that chose not to confront the “tall, locked iron gates” and the suffering behind them. The review situates the laundries within a broader context of institutional abuse, referencing the mother‑and‑baby homes that saw an estimated 56,000 women and girls pass through, with roughly 57,000 babies born, most notably at the Bon Secours home in Tuam. Investigations by Catherine Corless uncovered a mass grave of nearly 800 infants, highlighting the systemic nature of the tragedy. Financial redress has been slow. To date, the Irish government has disbursed more than €33 million to survivors of the laundries, while most religious orders have refused to contribute. A survivor’s testimony, quoted by Brangan, captures the lingering impact: “There’s always something in my life that will remind me of my past… I’ll never heal.” The review concludes by noting that the book, published by Bodley Head at £22, serves both as a harrowing testament and a call to remember a dark chapter of Irish history that continues to shape the lives of those who endured it.