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A projectile strike near Iran's Bushehr nuclear plant has resulted in the death of one person, according to the International Atomic Energy Agency (IAEA). The incident occurred amid escalating US-Israeli strikes on Iranian industrial sites, raising concerns over the safety of nuclear facilities. The IAEA confirmed that there was no increase in radiation levels after the attack on Saturday, citing Iranian authorities. The agency's Director General, Rafael Grossi, expressed deep concern about the incident, emphasizing that nuclear sites and nearby areas must never be attacked. Iran's Foreign Minister, Abbas Araghchi, claimed that the Bushehr facility had been bombed four times since the war erupted on February 28, criticizing the lack of concern for its safety. The strike damaged an auxiliary building on the site, but the main sections of the power plant were not affected. The incident has sparked a renewed call for maximum military restraint to avoid the risk of a nuclear accident. The US and Israel have been escalating their targeting of Iranian industrial sites, including petrochemical plants in the southern Khuzestan region. The Bushehr plant, Iran's only operational nuclear power plant, is located in Bushehr city and is one of the country's most important industrial and military nodes. The plant's safety has been a concern, with 198 Russian staff evacuated following the attack, according to Rosatom, Russia's state nuclear company.

Virgil van Dijk openly criticised Liverpool’s performance after a crushing 4‑0 defeat to Manchester City in the FA Cup quarter‑final, saying the side effectively "gave up" and offering a direct apology to the club’s supporters. The Dutch defender described the loss as the most severe under manager Arne Slot, noting that the timing of the defeat makes it especially hard to rebound for the Champions League first‑leg against Paris Saint‑Germain on Wednesday. Van Dijk pointed out that Liverpool allowed four goals in an 18‑minute spell around the break, a collapse that has contributed to the club’s tally of 15 defeats across all competitions this season (excluding the Community Shield). "It’s on us," he said, expressing remorse for the second‑half display and acknowledging the mental strain of a difficult campaign. He also took personal responsibility for the penalty that gave City the lead, marking his fourth spot‑kick conceded this season after 319 appearances for Liverpool. Regarding the manager, Van Dijk stated, "Slot is responsible as the manager, but we are the ones on the pitch." He added that the team let both the fans and themselves down, especially after the penalty incident. Looking ahead, the captain warned that the upcoming match in Paris will be "very difficult", but stressed that Liverpool must fight in the remaining three games to salvage the season. Van Dijk also reflected on a perceived loss of the "togetherness" that defined his years at the club, attributing it to a major squad overhaul and a transitional period that hampers consistency.

Japan's economic strategy has inadvertently created a Japanese century in global finance, driven by the yen's role as a cheap and reliable funding currency. The Bank of Japan's loose monetary policy has suppressed yields on public debt, effectively creating a publicly subsidized funding pipeline for bankers.By borrowing cheaply in yen and investing in higher-return assets, such as US equities, global investors have profited tens of billions of dollars from the 'yen carry trade'. This trade surged after the pandemic, with speculators betting $435bn in the two years to 2024 out of the estimated $1.7tn worth of yen supplied.Despite Japan's first rate hike since 2007 in March 2024, the carry trade remains popular. However, a persistent fear exists that the BoJ may aggressively raise rates, risking a global financial shock. A stronger yen would increase the cost of repaying yen-denominated debts, and heavily leveraged hedge funds could face significant losses.Japan's economic success has created an external dependency on the carry trade to manage internal crises. The country's reflationist prime minister, Sanae Takaichi, is committed to fiscal expansion, which may continue to stabilize the private sector but not necessarily drive growth.Economic analysis suggests that Japan's growth constraints are rooted in its macroeconomic prices, including profit, exchange rate, interest, wages, and inflation. While Japan has seen recent real wage growth, wages have historically been flat or falling, and the country's firms lack a reliably competitive exchange rate and viable profit rate to drive demand and reform.

Iranian drones have launched a series of attacks on Kuwait's oil infrastructure, resulting in severe material damage and posing a significant threat to oil supplies that are already strained due to the ongoing US-Israel war on Iran.The drone strikes, which took place on Sunday, happened just hours before members of the Opec+ group of major global oil suppliers convened to discuss strategies for increasing output, despite Iran's effective blockade of the Strait of Hormuz shipping route.The Islamic Revolutionary Guard Corps of Iran claimed responsibility for the attacks, stating that they had targeted petrochemical plants in Kuwait, as well as in the United Arab Emirates and Bahrain. The Kuwait Petroleum Corporation reported damage and fires at its subsidiaries, including at the Shuwaikh oil sector complex, which houses the oil ministry and KPC headquarters.The attacks on Kuwait's oil infrastructure are part of a broader escalation of tensions in the Middle East, with Iranian drones also reportedly striking an office complex for Kuwaiti government ministries and two power and water desalination plants.The conflict has led to the largest disruption to oil supplies in history, with the price of Brent crude surging more than 50% since the start of the year to a peak of $119.50 a barrel in March. It is currently trading at about $109 a barrel.The disruptions have had a significant impact on energy costs for consumers, with the average price of a litre of unleaded petrol in the UK reaching 154.45p on Sunday, and the average US fuel price passing $4 a gallon for the first time in four years.Opec+ members have agreed in principle to raise output by 206,000 barrels a day in May, but the agreement remains largely symbolic while Iran continues to block the Strait of Hormuz, a vital trade artery through which about 20% of the world's total crude oil passes.

LIV Golf is shifting its focus from recruiting individual stars to securing whole tournaments, with the Saudi‑funded circuit now eyeing the possibility of hosting traditional national open championships. This strategic pivot could reshape the ongoing power tussle in elite golf. The proposal threatens the DP World Tour—formerly the European Tour—which already boasts a dense calendar of national opens across Europe and emerging markets like China, India and Australia. Adding more of these marquee events to LIV’s roster would intensify competition for the most coveted tournament slots. Although the recent exodus of top players from established tours to LIV appears to have stalled or even reversed, the battle for prime tournament markets is far from settled. Securing historic national opens would give LIV a foothold in events that carry deep cultural and commercial weight. To date, LIV has built a largely international schedule, staging events in Australia, South Africa, Mexico City, Hong Kong and Singapore for the 2026 season. While these locations broaden the circuit’s global reach, none possess the longstanding prestige of a national open. By contrast, the DP World Tour has successfully leveraged national opens to expand its brand beyond Europe, tapping audiences in Asia and the Pacific. This experience underscores the strategic value of such tournaments for sponsors and broadcasters. Meanwhile, the DP World Tour is engaged in high‑level negotiations with the PGA Tour to extend a strategic alliance that currently runs until the end of 2027. The PGA is reportedly pushing for a reduced annual financial underpin for DP World prize funds, and the emerging threat from LIV is a key bargaining chip in those talks. Recent player movements have added nuance to the rivalry: the PGA Tour welcomed back Brooks Koepka and Patrick Reed after their departures to LIV, yet the Saudi Public Investment Fund shows no sign of scaling back its ambitious golf project. On the player front, Jon Rahm, who remains with LIV, is slated to address the media at Augusta National ahead of the Masters. Having lost an appeal over fines imposed for playing on LIV, Rahm is currently barred from the Ryder Cup and has refused to settle the penalties, leaving him in strained relations with the DP World Tour. His comments are expected to dominate the pre‑Masters press conference.

Donald Trump’s demand that Iran reopen the Strait of Hormuz has an immediate impact on U.S. gasoline prices, but analysts warn that a prolonged conflict will push energy costs higher across the globe, far beyond the fuel pump. Systemic increases in power prices and disrupted supply chains are set to compress margins for industries worldwide; in the United States, the effect could be especially damaging to the fragile economics of the AI boom. Oil‑importing nations in the Global South are already feeling the strain: Egypt has imposed curfews, Indonesia is trialling work‑from‑home Fridays, and the Philippines has declared a national energy emergency. While the United States, as a major oil exporter, can partially insulate itself, the country cannot escape the global rise in energy costs. Experts predict that price pressure will linger for months even if the strait reopens within days. Companies are revisiting cash‑flow forecasts, and the AI sector—characterised by energy‑intensive model training and debt‑laden expansion—faces a particularly acute risk. OpenAI chief Sam Altman attempted to downplay environmental concerns, likening the energy required to train an AI model to the cumulative food intake over a human’s 20‑year development. The Bank of England’s Financial Policy Committee warned that rising energy costs could depress AI share prices, noting that investors were already uneasy about the sector’s heavy reliance on debt financing and uncertain return prospects before the war began. "The conflict could increase these concerns, particularly given the energy‑intensive nature of the supply chain for key components and the operation of datacentres," the committee said. World Trade Organization chief economist Robert Staiger echoed this view, cautioning that a prolonged period of high energy prices could "crimp" AI investment. He highlighted that AI‑related goods accounted for 70% of U.S. investment growth in the first three‑quarters of last year. A forensic note from US law firm Quinn Emanuel revealed that the AI sector generated roughly $60 billion in revenue last year while committing $400 billion to capital expenditure. The financing structure mirrors the 2008 crisis, with off‑balance‑sheet special purpose vehicles and asset‑backed securities playing a central role. Leading "hyperscalers" and infrastructure providers such as CoreWeave are borrowing enormous sums to build out datacentres, although some analysts argue that many projects lag behind their lofty promises. Much of this borrowing comes from private‑credit lenders, making total liabilities opaque and challenging for regulators—an issue the Bank of England has repeatedly flagged. Complex financing arrangements see datacentres owned by special purpose vehicles, debt pooled and sold to pension funds, and other layered structures that obscure true exposure. Quinn Emanuel estimates that $120 billion of datacentre debt has been moved off‑balance sheets in the past two years. The firm warns that distress at any single node could cascade through the tightly interconnected AI ecosystem. Extended higher energy costs, combined with volatile interest rates and weaker consumer demand—both likely fallout from the Middle East war—could trigger that distress. The fundamental question remains: can the AI sector generate sufficient revenue to justify its sky‑high valuations? Even modest energy price hikes may force a market rethink, with potential spill‑over effects across U.S. markets and beyond. As the article concludes, the economic fallout may be yet another unintended consequence of Trump’s aggressive stance on Iran, unleashing forces beyond his control.

A recent experiment with an autonomous AI agent, named Gaskell, has provided a glimpse into the capabilities and limitations of these emerging technologies. Gaskell, created by a team of individuals, was tasked with organizing a party in Manchester, which the author attended.Gaskell's autonomous nature was put to the test as it interacted with potential sponsors and event staff, showcasing both impressive abilities and significant limitations. The AI agent was able to secure a venue, arrange for catering, and even attempt to negotiate with vendors, although it ultimately failed to deliver on some promises, such as ordering pizza.The event itself was surprisingly ordinary, with around 50 attendees engaging in discussions about AI over beers and snacks. Despite some initial missteps, including a failed attempt to secure a venue at the Manchester Art Gallery, Gaskell's human employees were able to step in and ensure the event's success.Gaskell's limitations were evident in its inability to use a phone or credit card, highlighting the current constraints of autonomous AI agents. However, the experiment also demonstrated the potential for these technologies to autonomously manage complex tasks and interact with humans in meaningful ways.The author notes that Gaskell's capabilities, although imperfect, represent a significant step forward in AI development, and that similar experiments are likely to become more common in the future.

An Iranian missile attack has reportedly hit residential districts in central Israel, according to the latest reports. The strike targeted civilian areas, prompting immediate emergency responses and heightening diplomatic tensions across the Middle East.Authorities are assessing the damage and potential casualties, while regional leaders condemn the incident and call for restraint to prevent further escalation.

Doctors Without Borders (MSF) has condemned a drone strike that hit Al Jabalain Hospital in Sudan’s White Nile State, killing 10 people, among them seven medical staff members. The attack, which struck an operating theatre and a maternity ward, occurred during a children’s immunisation campaign, heightening the humanitarian outcry.MSF’s Sudan emergencies chief, Esperanza Santos, said the assault was “unacceptable” and noted that several of the deceased had previously worked with the organisation. She added that the strike represents a grave violation of medical neutrality.While the perpetrators have not been officially confirmed, MSF’s statement attributes the strike to the paramilitary Rapid Support Forces (RSF), a claim echoed by Sudanese officials. On Friday, Khalid Aleisir, Sudan’s minister of culture, information, antiquities and tourism, called for the RSF to be designated a terrorist organisation and for its members to face prosecution.The incident follows a series of attacks on Sudan’s health infrastructure since the war erupted in April 2023. In a separate incident the same day, a medical supply depot in Rabak, the capital of White Nile State, was also hit. According to the World Health Organization, more than 200 attacks have targeted health facilities since the conflict began, underscoring a systematic pattern of violence against civilians.Local rights group Emergency Lawyers highlighted that recurring drone strikes across South Kordofan, Blue Nile, and the Darfur regions have displaced thousands, further straining an already fragile health system. The Sudan Doctors Network described the Al Jabalain strike as a “deliberate assault on health facilities and unarmed civilians,” warning that such actions exacerbate the nation’s deteriorating medical capacity.International observers note that the targeting of hospitals not only violates international humanitarian law but also hampers efforts to control disease outbreaks and provide essential care to vulnerable populations. The growing body of evidence may prompt renewed calls for accountability and stronger protective measures for health workers in conflict zones.