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The Lead United States Vice President JD Vance has said he believes progress is being made in negotiations with Iran, despite President Donald Trump rejecting Tehran’s latest proposal as unacceptable. The comments come as diplomatic efforts continue to prevent a collapse in the fragile ceasefire between Washington and Tehran. Iran's Military Readiness Brigadier-General Mohammad Akrami Nia says Iran’s military remains at “the highest level of readiness”, warning that “there is no room for retreat” as tensions with the US persist. Iranian officials have continued to signal they are prepared to respond to any escalation. Netanyahu's Secret Visit to UAE Separately, Israel says Prime Minister Benjamin Netanyahu made a “secret” visit to the United Arab Emirates during the war on Iran, where he met the UAE president, according to the Israeli prime minister’s office. The UAE has denied that the trip happened. Iran's Warnings and World Cup Send-off Iran warns states ‘colluding’ with Israel: Foreign Minister Abbas Araghchi said countries working with Israel against Tehran will be “held to account”, after Israel revealed Netanyahu visited the UAE during the war. Iran gives World Cup send-off to national team: Crowds gathered in Tehran’s Enghelab Square to celebrate Iran’s national football team ahead of the 2026 World Cup, waving flags as players appeared on stage in red and black tracksuits. War Diplomacy and US-China Relations Vance says US is ‘making progress’ in talks: The US vice president says he believes progress is being made in negotiations with Iran. China may seek concessions over Iran role: Analysts say China could demand concessions from the US, potentially on Taiwan, in exchange for using its influence to pressure Iran to reopen the Strait of Hormuz. Developments in the Gulf and US Netanyahu’s UAE visit: The Israeli Prime Minister held a “secret” meeting with the UAE President Sheikh Mohamed bin Zayed Al Nahyan, his office said. UAE denies Netanyahu visit claims: The UAE has rejected statements from Netanyahu’s office. Senate backs Trump: US senators narrowly rejected a resolution curbing President Trump’s power to wage war on Iran. Escalation in Lebanon Israel-Lebanon talks: Officials from Lebanon and Israel will convene in Washington, DC, later on Thursday for a new round of peace negotiations. Lebanon says 10,000 homes hit: More than 10,000 homes have been damaged or destroyed in Lebanon since a ceasefire in the war between Israel and Hezbollah. At least 12 killed in Lebanon: Israel intensified strikes on Lebanon with the Ministry of Public Health reporting 12 people were killed in attacks on Wednesday.

The Lead: A Critical Test for International Climate JusticeThe UN's willingness to tackle the climate crisis through legal means will be tested next week during a pivotal vote of the UN General Assembly in New York. Every member state is being asked to back a series of landmark findings on climate justice from the International Court of Justice (ICJ) as part of a new political resolution that could establish legal responsibility for cutting greenhouse gas emissions.The ICJ's Landmark Climate Ruling: A Historic Win for Vulnerable NationsThe ICJ's advisory opinion, published last year following hearings in the Hague, had been requested by an unprecedented 132 states without opposition in 2023. This unanimous decision was hailed as a "historic win" for small island states, particularly those facing existential threats from rising sea levels. The opinion establishes that countries have legal obligations to address climate change, including tackling fossil fuel production and use.The Pacific island nation of Vanuatu has since been leading a group of states to draft a resolution that welcomes the ICJ opinion and aims to help it make a difference on the ground. Ahead of the UN vote on May 20, Vanuatu is seeking support from as many other nations as possible, aiming to match or exceed the 132 co-sponsors of the original request.The Diplomatic Negotiations: Balancing Legal Clarity with Political RealityThe text of the resolution has undergone significant changes since an initial draft circulated in February. Notably, calls for a "rapid, just and quantified phase-out of fossil fuel production and use" were replaced with a more moderate urge to transition away. An original aim to set up an international register of climate damage was dropped altogether.These changes reflect pressure from major powers, particularly the US, which lobbied to drop the resolution entirely. However, Vanuatu's climate justice envoy, Lee-Ann Sackett, emphasized that the text was adjusted to be both "meaningful and unifying," with explicit reassurances where requested and safeguards where restraint was asked for.The final text clearly states that the UNFCCC and the Paris Agreement remain the primary international forums for negotiating climate responses. It explicitly notes that the resolution does not adjudicate disputes, attribute responsibility to specific states, create new obligations, or prejudice existing legal positions.The Global Significance: Beyond Environmental Policy to International Legal AuthorityDespite the compromises, the resolution represents more than just environmental policy—it's a test for the credibility of the international legal system. The ICJ's opinion is already being used in climate litigation worldwide and referenced by judges in climate-related rulings, though it has faced resistance in diplomatic circles.The resolution's importance extends beyond its text, particularly for small island developing states. For these nations, "this is about the affirmation and protection of our territories, sovereignty and fundamental rights of our populations," according to Tania Romualdo, the permanent representative of Cape Verde to the UN representing the Alliance of Small Island States (AOSIS).The unusual engagement from states that typically don't intervene on climate texts highlights the broader significance of this vote. As Sackett noted, delegations recognize this is about "the authority of the court, the integrity of the UN system and how we translate legal clarification into multilateral cooperation."The Future Outlook: Implementation and International CooperationRegardless of the vote's outcome, the ICJ's advisory opinion is already influencing global climate action. It has been referenced at international climate talks and fossil fuel conferences, with leaders like Vanuatu's climate minister emphasizing that international cooperation is indispensable for addressing what the court has identified as a legal obligation.The resolution, if passed, will call on all states to comply with their existing obligations as established by the ICJ and help member states think through implementation. While the text has been softened to gain broader support, it still represents a significant step toward formalizing climate responsibilities in international law.For small island states, this process has required many sacrifices and compromises, but they reflect the reality of negotiation in a system where major powers hold significant influence. The vote will determine whether the international community is willing to translate legal clarity into concrete action on climate change.

The Lead: Trump-Xi Summit at Critical Economic JunctureUS President Donald Trump is in Beijing for talks with Chinese leader Xi Jinping at a crucial moment for the global economy. The high-stakes meeting focuses on three key areas: trade relations, technology competition, and Iran nuclear negotiations.The Event Details: Trump's Trade DemandsTrump is seeking concrete commitments from China to open its markets to American companies, increase investment and job creation in the US, and purchase more American agricultural products, particularly beef and soybeans. These demands come amid ongoing tensions between the world's two largest economies over trade imbalances and intellectual property concerns.The Data Analysis: Economic Stakes in US-China RelationsThe bilateral trade relationship between the US and China exceeds $650 billion annually, with China being the largest foreign holder of US Treasury securities. Agricultural exports to China have been a particular focus, with soybeans alone accounting for approximately $12 billion in annual exports before recent trade tensions disrupted these flows.The Impact Analysis: Global Economic ImplicationsOutcomes of these talks will significantly impact global supply chains, financial markets, and geopolitical alliances. A successful negotiation could ease trade tensions that have increased costs for businesses and consumers worldwide. Conversely, a breakdown in talks could further destabilize markets and accelerate the decoupling of the world's two largest economies.The Prediction: Path Forward for US-China RelationsExperts suggest that while significant breakthroughs are unlikely, both leaders may seek symbolic victories to demonstrate progress. Expect targeted agreements on agricultural purchases and possibly limited market access for specific US industries, while broader structural issues in the relationship remain unresolved. The talks will set the tone for the next phase of US-China relations in an increasingly multipolar world.

The Lead: United signal intent to lock in Carrick Manchester United are set to begin formal discussions with Michael Carrick about a permanent head‑coach contract, following an impressive interim spell that has propelled the team into the Champions League places. The Coaching Talks Unfold The club’s hierarchy – director of football Jason Wilcox and chief executive Omar Berrada – have expressed confidence in Carrick’s ability to lead the side beyond the short‑term. The talks will focus on contract length and terms rather than his suitability, reflecting the strong impression he has made. The Points Surge Under Carrick Points earned: 33 from 15 Premier League matches League climb: from 7th to 3rd place Champions League qualification secured Remaining requirement: a point from the final two games to guarantee third The Cultural Turnaround at Old Trafford Beyond results, Carrick has restored a "feel‑good" atmosphere. Players and fans have rallied behind his calm media presence, a stark contrast to predecessor Ruben Amorim, who was dismissed on 5 January. Carrick reinstated Kobbie Mainoo as a first‑choice midfielder, further signalling a shift in squad dynamics. The Road Ahead for United By season’s end Carrick will have managed United in only 20 games – 17 this term and 3 during his 2021 caretaker spell. The club appears willing to overlook his limited elite‑level experience, betting on continuity and the momentum he has generated. If the final two fixtures yield the needed point, United will finish third, setting a strong platform for Carrick’s potential long‑term tenure.

Executive Lead: Trump Dismisses Domestic Economic Pain While Pursuing Iran DealDonald Trump asserted that the growing financial pressure on Americans from the Iran war does not influence his drive for a peace settlement, emphasizing instead the goal of preventing Iran from acquiring a nuclear weapon.White House Remarks Highlight Iran‑Centric StrategySpeaking to reporters at the White House before boarding a plane to China, Trump said, “I don’t think about Americans’ financial situation. I think about one thing: We cannot let Iran have a nuclear weapon.” The statement was made on Tuesday, 13 May 2026, just days before the U.S. midterm campaign intensifies.Economic Data Pointing to Rising Cost‑of‑Living PressuresU.S. inflation rose 3.8% in April, the fastest pace since 2023.Average gasoline price topped $4.50 per gallon, the highest in four years.Food prices up nearly 4% month‑over‑month.Airline fares increased by more than 20%.Energy‑related costs have surged following the U.S. and Israel attacks on Iran in late February.Political and Economic Impact Ahead of the MidtermsThe remarks arrive as the 2026 midterm election narrative is increasingly dominated by affordability concerns. While Trump downplays the domestic fallout, rivals such as Marco Rubio frame the U.S. as “very fortunate” compared with other nations facing sharper price spikes. Consumer confidence, according to a University of Michigan survey, has slipped to 2022‑level lows, echoing past inflation spikes.Outlook: Trump’s Optimistic Forecast vs. Market RealitiesTrump predicted that a resolution to the war would trigger a “massive drop in the price of oil” and propel the stock market “through the roof,” heralding a new “golden age.” Energy Secretary Chris Wright has cautioned that fuel prices may not fall below $3 per gallon until next year, and analysts note that inflationary pressures remain entrenched. The divergence between Trump’s bullish outlook and prevailing economic indicators will likely shape voter sentiment as the election approaches.

The Sunderland Pivot: From Exclusive Production to Contract ManufacturingNissan is actively exploring a strategic shift at its UK flagship plant in Sunderland, moving away from a model of exclusive production toward contract manufacturing for external partners. CEO Ivan Espinosa confirmed that the company is "looking at options" to bring in additional volume, specifically mentioning talks with Chinese automaker Chery. This potential collaboration comes as Nissan struggles with faltering demand for its own vehicles, having announced the closure of one of its two production lines at the facility.Financial Strain and Volume ConstraintsThe decision to consider outsourcing production is driven by a critical volume crisis. Espinosa emphasized that the Sunderland plant is "viable" but faces challenges due to insufficient output. This financial pressure is reflected in Nissan's recent performance, which posted a net loss of ¥533bn (£2.5bn) for the year to March. Operating profits fell nearly 12% on the previous year, forcing the company to merge production lines and cut 900 jobs across Europe, including roles in the UK.The European Auto Industry's Strategic ShiftNissan's potential move mirrors a broader trend in the European automotive sector, where legacy manufacturers are monetizing underused capacity to survive. This trend is driven by Chinese competitors who can undercut European prices due to lower production costs. Notable examples include Stellantis building cars for Leapmotor in Spain and Ford reportedly discussing plant sales with Geely. Furthermore, BYD is actively negotiating with Stellantis and other European firms to take over idle factories, signaling a new era of cross-border collaboration.A New Era of Cross-Border CollaborationLooking ahead, the automotive landscape is shifting from pure competition to strategic partnerships. Espinosa, appointed a year ago with a mandate to restore profitability, views external collaboration as essential for survival. As Chinese brands like Chery and BYD aggressively expand into Europe, the traditional boundaries between domestic and foreign manufacturing are blurring, suggesting that contract manufacturing will become a standard survival strategy for struggling legacy automakers.

The Lead US President Donald Trump departed for Beijing on Tuesday for a high-stakes summit with Chinese President Xi Jinping, saying the two leaders would hold a 'long talk' on Iran even as trade remains the main focus of the visit. Iran's Stance on Peace Iran presses US on peace proposal: Iran's chief negotiator and Parliament Speaker Mohammad Bagher Ghalibaf said Washington must accept Tehran's latest peace plan or face failure. Report says Iran retains missile strength: The New York Times reported Tuesday that classified US intelligence assessments say Iran still has substantial missile capabilities, with about 70 percent of its mobile launchers and pre-war missile stockpile still in action. War Diplomacy Chinese supertanker crosses Hormuz: Chinese crude oil supertanker Yuan Hua Hu was reportedly transiting the Strait of Hormuz on Wednesday, ship-tracking data showed, passing Iran's Larak Island while heading out of the Gulf. Hezbollah rules out disarmament talks: Hezbollah chief Naim Qassem said his group's weapons were not part of forthcoming ceasefire negotiations between Lebanon and Israel. Qatar warns over Hormuz pressure: Qatar's prime minister said Iran should not use the Strait of Hormuz, blocked since early in the war, as a means of 'blackmail' against Gulf states. The Gulf UAE gas facility hit by war: The UAE's main gas processing complex, one of the world's largest, will not resume full capacity until next year, its operator said, after it was hit in the Iran war. Kuwait arrests alleged IRGC operatives: The country said it arrested four men accused of belonging to Iran's IRGC after they tried to infiltrate Bubiyan Island by sea and injured a Kuwaiti soldier. In the US Trump on Xi: Trump said he does not believe the US needs China's help to end the war involving Iran, but confirmed the issue would still feature in his talks with Xi Jinping this week. Trump says war's end will bring down inflation: Facing growing domestic pressure over rising prices linked to the conflict, Trump said the war 'will not be long' and argued its end would trigger a sharp drop in oil prices and inflation. US says Iran war has cost $29bn: Defense Secretary Pete Hegseth told lawmakers the war has cost Washington at least $29bn in munitions and equipment over 74 days, excluding damage to bases. The Impact Analysis The ongoing conflict in Iran has significant implications for the global economy, with rising oil prices and inflation being major concerns. The war has also led to a humanitarian crisis, with hundreds of thousands of students displaced and schools destroyed in Lebanon. The Prediction The future outlook for the conflict in Iran remains uncertain, with both sides showing no signs of backing down. However, with growing domestic pressure and international diplomacy, there is a possibility that the conflict could be resolved peacefully in the near future.

Jensen Huang Added to Trump’s High‑Profile China DelegationJensen Huang, chief executive of Nvidia, joined Donald Trump's 36‑hour China trip after a reported last‑minute invitation, sitting with CEOs such as Elon Musk and Tim Cook for a meeting with President Xi Jinping.Summit dates: May 13‑14, 2026Key participants: CEOs of Nvidia, Tesla, Apple, Goldman Sachs and othersAgenda items: conflict in Iran, tariffs, Taiwan, and US‑China tech cooperationFinancial Stakes: $50 bn Market Target and Billionaire Net WorthHuang has repeatedly cited the Chinese market as a $50 bn opportunity for Nvidia’s AI chips. His personal fortune surged to $191.5 bn, briefly placing him among the world’s top seven richest people, while his 2026 compensation fell to $36.6 m after a stock‑price correction.Net‑worth: $191.5 bn (based on 3 % Nvidia stake)Compensation 2026: $36.6 m (‑27 % YoY)China market potential cited: $50 bnImplications for US‑China Tech Relations and AI CompetitionThe inclusion of a leading AI hardware maker signals Washington’s intent to leverage private‑sector expertise in diplomatic talks, aiming to “open up” China for American tech firms. It also raises questions about the optics of blending corporate influence with foreign policy amid ongoing tensions over AI dominance.What the Summit Could Signal for Future Tech DiplomacyAnalysts expect the summit to set a precedent for more frequent “business‑state” delegations, potentially accelerating joint research agreements or, conversely, prompting stricter export controls if negotiations stall. The outcome may shape the pace at which US AI firms gain market access in China and influence broader geopolitical strategies.

Executive Summary: Trump‑Xi Summit Sets the Stage for a US‑China Power Contest Donald Trump will meet Xi Jinping in Beijing on May 14‑15, 2026. The talks, delayed by the US‑Israel war on Iran, are expected to focus on trade, debt, military spending and emerging technologies, marking the first US presidential visit to China in nearly a decade. Trade Metrics Highlight China’s Export Supremacy According to the World Bank’s WITS, China exported $3.59 trillion of goods in 2024, surpassing the US’s $1.9 trillion. China now leads 145 economies in trade volume, while the US trails with a trade deficit of roughly $1.2 trillion (imports $3.12 trillion vs exports $1.9 trillion). Top Chinese exports: Machinery & electrical machines $1.68 trillion, metals $286 bn, textiles $268 bn. Top US exports: Machinery & electrical machines $447 bn, mineral products $364 bn, chemicals $245 bn. Numbers Behind the Trade Gap, Debt and Military Budgets In 2024 China posted a trade surplus of over $1 trillion, while the US ran a deficit of about $1.2 trillion. Government debt stands at 115 % of GDP for the US and 94 % of GDP for China, with the US national debt exceeding $39 trillion. Military spending in 2025 was $954 bn for the US (3.1 % of GDP) versus $336 bn for China (1.7 % of GDP). Strategic Implications for the Global Power Balance The data underscore a shift: China now leads in export volume, rare‑earth reserves (44 million tonnes vs US 1.9 million tonnes), and green‑energy investment ($290 bn vs US $97 bn). The US retains advantages in AI corporate spending ($109 bn in 2024) and semiconductor technology. Both powers dominate global military outlays, together accounting for over half of worldwide defence spending. Outlook: What the May Summit May Determine Analysts expect the summit to address tariff levels (US average tariff on Chinese imports ~31.6 %), rare‑earth supply security, and coordination on climate‑energy policy. A de‑escalation could stabilize trade flows and reduce debt‑driven fiscal pressures, while a hard‑line stance may deepen the bifurcation of technology supply chains and reinforce competing growth models.