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JD Vance, the United States vice‑president, issued a stark warning to Tehran as he boarded Air Force Two for Pakistan: Iran must not attempt to "play" the United States at the peace talks scheduled for Saturday in Islamabad. The talks, mediated by Pakistan, could determine whether the fragile ceasefire in the region holds or if hostilities resume, with significant repercussions for the global economy, especially oil markets. Iranian parliamentary speaker Mohammad Bagher Ghalibaf and foreign minister Abbas Araghchi have conditioned their participation on two unmet measures: a full ceasefire in Lebanon and the release of Iran’s blocked assets. Ghalibaf posted on X that "Two of the measures mutually agreed upon between the parties have yet to be implemented." Uncertainty lingered on Friday night about whether the Iranian delegation would even travel to Islamabad. Earlier reports indicated that Israel had removed the Iranian officials from its bombing target list at Washington’s request. Meanwhile, Donald Trump amplified the tension, telling the New York Post that U.S. forces were "loading up the ships with the best ammunition" and would use them if negotiations failed. He later posted that Iran "has no cards" except short‑term extortion of international waterways. The backdrop to the talks is a worsening Lebanon‑Israel confrontation. More than 300 Lebanese civilians have been killed since the ceasefire began, and 13 Lebanese security personnel died in an Israeli strike on a government building in Nabatieh. Trump and Israeli Prime Minister Benjamin Netanyahu dispute whether the April 7 ceasefire between the U.S. and Iran includes Lebanon, and Israel continues bombing Hezbollah‑linked targets despite Netanyahu’s earlier statements about opening negotiations with the Lebanese government. Oil markets have felt the shock. The February 28 U.S.–Israeli strike on Iran and Tehran’s subsequent closure of the Strait of Hormuz—shutting off roughly one‑fifth of the world’s oil and liquefied natural gas—triggered a sharp price spike, adding political pressure ahead of the November U.S. congressional elections. Vance, however, expressed optimism as he departed for Islamabad: "We’re looking forward to the negotiation. I think it’s going to be positive. If the Iranians are willing to negotiate in good faith, we’re certainly willing to extend the open hand." He added, "If they’re going to try and play us, then they’ll find the negotiating team is not that receptive." The U.S. delegation also includes senior adviser Steve Witkoff and former senior adviser Jared Kushner, both of whom participated in earlier talks on Iran’s nuclear and missile programmes before the February attack. Negotiations are expected to focus on reopening the Strait of Hormuz, the future of Iran’s nuclear program, potential sanctions relief, reparations for war damage, and the release of Americans detained in Iran, according to the Washington Post. Advance teams from the United States and Iran have already taken up rooms at Islamabad’s five‑star Serena hotel, with Pakistani officials acting as intermediaries. Security forces have established a two‑mile perimeter around the hotel, declared a public holiday, and locked down the city centre to ensure a safe environment for the high‑stakes mediation. Hezbollah, while not commenting directly on the Lebanese‑Israeli negotiations, issued a statement urging the Lebanese government to stop "making gratuitous concessions" and vowed to continue fighting to "expel the occupier." The Lebanese army has reinforced its presence in Beirut following an Israeli strike that killed at least 303 people. Fighting persists in southern Lebanon, with Hezbollah claiming to have struck Israeli soldiers near Bint Jbeil—a town symbolic of resistance from the 2006 war—and launching rockets into Israel throughout Friday. Israel’s airstrikes across Lebanon have intensified, culminating in the Nabatieh attack that killed the highest number of Lebanese security forces to date.

Oil markets experienced a dramatic correction on Wednesday, with Brent crude falling 13.9% to $94.10 per barrel and U.S. WTI futures sliding almost 16% to $95, marking the steepest daily percentage drop since the COVID‑19 crash of April 2020. Despite the plunge, prices remain well above pre‑conflict levels, when Brent traded below $73.The price shock followed President Donald Trump's announcement of a two‑week, conditional ceasefire with Iran, contingent on Tehran reopening the strategic Strait of Hormuz for oil tankers. Iran’s foreign minister, Abbas Araghchi, confirmed the strait would be managed by the Iranian military during the grace period, while Iran’s national security council accepted the ceasefire on the condition that U.S. attacks be halted.Equity markets reacted positively. The pan‑European Stoxx 600 surged 4%, its biggest one‑day gain in over four years. In the UK, the FTSE 100 climbed nearly 3% to 10,646 points, its highest level since the early days of the Iran war. Travel and leisure stocks led the rally, with Air France up 14.5%, Lufthansa +11%, IAG +9.5% and TUI +12%.Oil majors were the notable laggards; BP and Shell each lost more than 5% as investors priced in continued supply uncertainty. Asian markets also posted strong gains: Japan’s Nikkei 225 rose over 5%, Australia’s S&P;/ASX 200 jumped 2.55%, South Korea’s Kospi surged 7.5%, Hong Kong’s Hang Seng added 3.1% and China’s CSI300 climbed 3.2%.Bond yields eased on the ceasefire news. The U.S. 10‑year Treasury yield fell to 4.24% from 4.30%, while the UK 10‑year gilt slipped to 4.7% from 4.9%.Safe‑haven assets rallied as well: gold rose more than 2% to $4,812 per ounce, and cryptocurrencies recovered, with Bitcoin up 2.9% to $71,327 and Ether gaining 5.6% to $2,234.Market strategists emphasized the provisional nature of the relief. Jim Reid, Deutsche Bank markets strategist, warned that “investors will be breathing a big sigh of relief, but the durability of the ceasefire remains the key risk.” He noted ongoing Israeli‑Iran strikes and unclear extensions to Lebanon could reignite volatility.Energy analyst Saul Kavonic (MST Financial) described the pause as “an off‑ramp for Trump’s bombastic ultimatum, but not yet an off‑ramp for oil markets or the war.” He expects a limited release of tankers from Hormuz in May, which would ease storage pressure without boosting production.Capital Economics chief economist Neil Shearing highlighted potential transit fees for Hormuz passage, estimating a $1‑2 million charge per tanker—equivalent to roughly $1 per barrel—would have a modest effect on global oil prices but could signal a de‑facto partial nationalisation of the route.TD Securities senior strategist Prashant Newnaha cautioned that “renewed escalation cannot be ruled out, but markets are treating this ceasefire as the real deal, and all parties will sell it as a major win.” He added that oil prices are unlikely to revert to pre‑war levels, keeping inflationary pressures alive.Earlier in the week, U.S. equities swung sharply, with the S&P; 500 dipping 1.2% before rebounding after Pakistan’s prime minister urged Trump to extend the deadline and keep the strait open.The conflict, which began after the U.S. and Israel struck Iranian targets in late February, has choked the Strait of Hormuz—through which about 20% of global oil and LNG supplies flow—fueling a worldwide energy crunch.

The notion that war is more profitable than peace may seem counterintuitive, but it is a concept that has been explored by economists and political scientists. David Keen, a renowned expert in the field, sheds light on the complex relationship between conflict and economics. In a world where wars are often funded by governments and fueled by industries such as arms manufacturing, the financial stakes are high.Keen's work challenges the conventional wisdom that war is solely a destructive force. Instead, he argues that war can be a lucrative business for certain individuals and groups. The production and sale of weapons, for instance, can generate significant profits. Moreover, the reconstruction efforts that follow a conflict can also be a lucrative venture.However, the human cost of war cannot be overstated. The devastating impact on civilians, infrastructure, and the environment is well-documented. As such, the question remains as to whether the economic benefits of war outweigh the humanitarian costs.

Bath Rugby demonstrated their impressive squad depth with a thrilling comeback victory against Sale Sharks. Despite resting several key players, including Finn Russell and Ben Spencer, Bath conjured up two tries in the final quarter to clinch a bonus-point win.The match, played in difficult, windswept conditions, was an entertaining affair that could have gone either way. However, it was Alfie Barbeary's late try that sealed the win for Bath, putting his side only a point behind the leaders, Northampton.Kepu Tuipulotu, a 20-year-old hooker, was instrumental in the win, breaking on the left touchline and sending a delightful kick downfield for Bernard van der Linde to gather and score in the 62nd minute. This try was converted to level the scores at 26-26.Tuipulotu's performance was praised by Bath's head of rugby, Johann van Graan, who described him as “one of the most explosive players I’ve coached” with “huge potential”.Sale Sharks, missing several key players due to injury, were unable to capitalize on their strong start. Their director of rugby, Alex Sanderson, expressed his frustration, stating, “I’m crestfallen. I’m just gutted for the amount of effort that the lads put in”.The win keeps Bath in contention for a top-four spot, while Sale Sharks' hopes are all but extinguished. Bath will now look ahead to their Champions Cup last-16 home tie against Saracens on Saturday.

Around 15 years ago, Ashley Markle was introduced to a culinary curiosity that would later become a global phenomenon. While staying at her aunt's house, she encountered a small, plastic-wrapped biscuit that would forever change her perception of cookies. What began as an unknown airline snack evolved into one of the fastest-growing biscuit brands in the US, with Markle becoming an unwitting early adopter of what would become a cultural movement.The spiced caramel biscuit, created in 1932 by Belgian company Lotus, has experienced remarkable peaks in popularity over the past decade. From being described as 'crack in a jar' in 2014 to becoming a staple in freakshakes in 2016, the brand has consistently found new ways to capture consumer interest. The pandemic home-baking boom in 2021 propelled Biscoff into social media stardom, with chef Jon Watts demonstrating multiple Biscoff recipes on daytime television.In January 2026, Biscoff experienced another viral surge, particularly on TikTok and Instagram, where users obsessively shared recipes for a 'Japanese cheesecake' featuring the biscuits. Markle, a social media creator specializing in snack recipes, has seen her Biscoff-related content accumulate millions of views, including a cheesecake recipe that garnered over 4 million views and a two-ingredient cookie recipe with 5.6 million views.The phenomenon extends beyond social media. A teacher named Raj developed such an affinity for Biscoff that he purchased multiple boxes, declaring: 'I'd smoke Biscoff if I could.' At his school, colleagues use the biscuits as incentives for students to attend tutoring sessions, demonstrating the brand's cultural penetration.Food industry experts attribute Biscoff's success to several converging trends. Lisa Harris, co-founder of food consultancy Harris and Hayes, explains: 'Biscoff isn't a single trend in itself, more an expression of various converging trends.' The brand taps into nostalgia, accessible indulgence, and versatility, allowing it to appear in everything from drinks to ice cream to desserts.The brand's partnerships with other companies exemplify modern 'collab culture', with Harris noting that products with distinctive flavors often develop a life of their own among consumers. 'Fans run with it and feel as if they have ownership over the product as much as the brand itself does,' she observes.Lotus Bakeries has responded strategically to the social media buzz. The company is removing the Lotus embossing from biscuits, replacing it with the word Biscoff to better resonate with younger shoppers. Niamh Leonard-Bedwell, fast-moving consumer goods editor at The Grocer, notes: 'In the week to January 17, their volume sales were up 30% on the same time last year.'The business impact has been substantial. In its 2025 annual results, Lotus announced a 10% revenue increase, with more than half coming from the Biscoff brand. The company has expanded internationally with factories in the US and Thailand, with founder's grandson Jan Boone declaring: 'We want to conquer the world.'Despite its sweet reputation, Biscoff is venturing into savory territory with recipes like prawns in Biscoff sauce and creamy Biscoff duck breast. However, chef Jon Watts remains skeptical about these applications, preferring the biscuit's traditional uses in desserts and treats.Industry analysts believe Biscoff's universal appeal will sustain its popularity. Unlike divisive trends like matcha, Biscoff offers a 'quite universally likable flavor' that balances novelty with familiarity. As Kiti Soininen of Mintel notes: 'If it's that sort of safe adventure, where it's got that newness, that freshness, but it's pairing that with familiarity – that hits the mark with a lot of people.'Despite growing concerns about ultra-processed foods, Biscoff's traditional positioning may insulate it from criticism. There's a disconnect between how products are classified and consumer intuition, with Soininen observing: 'If my grandmother can have bought this then it can't be truly ultra-processed.'With retailers developing Biscoff-inspired products including porridge, tea, popcorn, and breakfast cereal, the trend shows no signs of abating. As Markle predicts: 'I don't see anybody deciding that they don't like Biscoff any more.'

NASA has announced a significant shift in its lunar exploration strategy, cancelling plans for a lunar orbit space station known as Gateway. Instead, the agency will utilize the station's components to construct a $20bn base on the moon's surface over the next seven years.The decision was made by NASA's new chief, Jared Isaacman, who was sworn in at the agency in December. Isaacman outlined the changes to the agency's flagship moon program, Artemis, at an event at NASA's Washington headquarters."It should not really surprise anyone that we are pausing Gateway in its current form and focusing on infrastructure that supports sustained operations on the lunar surface," Isaacman told delegates at the event.The Lunar Gateway station, largely already built with contractors Northrop Grumman and Lanteris Space Systems, owned by Intuitive Machines, was meant to be a space station parked in a lunar orbit. Repurposing the craft for a lunar surface base is not simple, but Isaacman emphasized that the agency can repurpose equipment and international partner commitments to support surface and other program objectives.The changes imposed by Isaacman on the flagship US moon program in recent weeks are reshaping billions of dollars' worth of contracts under the Artemis effort, sending companies scrambling to accommodate the extra urgency as China makes progress toward its own 2030 moon landing.

England rugby is at a critical juncture following its fifth-place finish in the Six Nations, marking the team's least successful championship in half a century. The Rugby Football Union has initiated a thorough review with remarkable speed, with insiders emphasizing that the process aims to support head coach Steve Borthwick rather than punish him. Despite the disappointing campaign, Borthwick is expected to remain in his position through the summer. As one well-placed source noted: "This review is about supporting Steve to make improvements. If change is needed, change is needed but it's not about punishing him." The comprehensive examination seeks feedback from both senior and younger players to understand the root causes of England's painful defeats against Scotland, Ireland, and Italy. Exeter's director of rugby, Rob Baxter, emphasized that the problems are multifaceted: "The reality is that it's never one thing that's the problem. Finishing fifth is down to a collection of things that have slowly added up and then multiplied." The review will particularly focus on what transpired in the three weeks following the first match, examining whether issues stem from culture, environment, selection, or tactics. A strategic disconnect emerged during the tournament between England's stated ambition to play vibrant rugby and their actual performance. Sale's director of rugby, Alex Sanderson, observed: "They've got quite a wide coaching team, a lot of cooks – not 'spoil the broth' but there's a lot of opinions to take in." Following the Ireland match, England appeared to revert to a pragmatic, defensive approach against Italy, only to show significant improvement when adopting a more expansive style against France. With the Rugby World Cup just 18 months away and England now ranked sixth in the world, selection decisions have become increasingly urgent. The team faces crucial choices at fly-half and center, with differing opinions on whether to prioritize experience or emerging talent. Former England center Simon Halliday advocates for continuity, particularly praising Tommy Freeman's performance against France: "He ripped them to pieces and looked really good against France. He's a frightening prospect to defend against." Concerns about England's talent pipeline have been raised following mixed results at junior levels. While the under-20 team won the championship in 2024, recent performances have been inconsistent, including a 63-33 defeat to France's under-18s and a sixth-place finish at the junior world championships. However, there are promising signs, with clubs like Bath developing significant young talent including Kepu Tuipulotu, Vilikesa Sela, and Tyler Offiah. The structure of English rugby's domestic pyramid faces scrutiny as the end of automatic promotion and relegation approaches, with an expansion league planned for 2029-2030. The gap between the Premiership and the Championship has widened, raising questions about how to provide young players with essential senior experience. Simon Gillham, chair of the Tier 2 board, acknowledges the challenges but remains optimistic: "For the Champ clubs it's a case of head over heart. I'm absolutely convinced the Champ will continue to grow."