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World Economy Apr 08, 2026

No 'Mass Exodus' of Ships Through Strait of Hormuz Expected Despite US-Iran Ceasefire

Despite a two-week conditional ceasefire between the US and Iran, shipping analysts do not expect a…
The recent US-Iran ceasefire agreement has not led to a significant change in the situation for ships trying to pass through the Strait of Hormuz. According to shipping analysts, there will be no 'mass exodus' of ships through the strait, despite provisions for a temporary reopening of the crucial maritime channel.The ceasefire agreement 'doesn't change the situation in the sense that Iran is still in control,' said Richard Meade, the editor-in-chief at maritime data provider Lloyd's List Intelligence. 'It still requires ships to essentially seek permission, and that's the key. That means that nothing has changed – no permission, no transit.'An estimated 2,000 ships and 20,000 seafarers have been trapped in the Persian Gulf since the outbreak of war at the end of February, according to the UN, unable to pass through the strait to continue their journeys. The trapped vessels include oil and gas tankers, bulk carriers, and cargo ships as well as six tourist cruise liners.Under Iran's 10-point ceasefire plan, the country's foreign minister said safe passage through the strait would be allowed under Iranian military management. However, analysts believe that Iran will continue to control the flow of traffic, and few expect traffic to return to normal daily averages during the two-week ceasefire.The head of the UN shipping agency, the International Maritime Organization (IMO), welcomed the ceasefire and called for a safe evacuation of seafarers from the Gulf. Arsenio Dominguez, the secretary-general of the IMO, said: 'I am already working with the relevant parties to implement an appropriate mechanism to ensure the safe transit of ships through the strait of Hormuz. The priority now is to ensure an evacuation that guarantees the safety of navigation.'
#ships #through #strait
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World Economy Apr 08, 2026

Trump‑Brokered Two‑Week Iran Ceasefire Triggers 15% Oil Collapse and Global Stock Rally

A conditional two‑week ceasefire between the United States and Iran announced by President Trump se…
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.
#oil #ceasefire #iran
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News Apr 08, 2026

Iranians Face Impending Devastation as Trump's Deadline Looms

Iranians prepare for potential devastation as US President Donald Trump's deadline for Tehran to re…
As the deadline set by US President Donald Trump for Iran to reopen the Strait of Hormuz approaches, Iranians are bracing for a potential catastrophe. With over 90 million people facing uncertainty, daily life in Iran could drastically change by Wednesday.Trump has issued ominous warnings, stating that if Iran does not comply, its electricity, bridges, and other critical infrastructure will be targeted, despite this violating international law. Such actions could lead to the destruction of a whole civilisation, as Trump previously mentioned.In the hours leading up to the 8pm US Eastern Time (23:00 GMT) deadline, residents of Tehran express their fears. A Tehran resident noted, “We all know he’s crazy enough to do it. He doesn’t care as long as he believes it serves his interest.” This sentiment reflects the anxiety gripping the nation as the threat of an attack looms.Preparations for potential blackouts and shortages are underway. Iranians are charging phones and power banks, using household appliances, and stocking up on essentials like bread, flour, and bottled water. The price of bottled water has surged due to chronic inflation and the ongoing conflict.The impact on vulnerable populations, including the sick and disabled, could be severe. Long-lasting power cuts would hinder access to essential medicines and medical equipment, exacerbating the crisis.Market prices for electrical devices and generators have skyrocketed, with many struggling to afford these necessities. A resident from the northern province of Gilan shared that he purchased a generator to power essential items, spending nearly all his earnings.Despite the threats, there is some optimism about Iran’s decentralised power distribution system potentially mitigating damage. The Ministry of Energy assured the public that they are prepared for worst-case scenarios and urged calm.The Islamic Revolutionary Guard Corps (IRGC) announced readiness to expand its target list and attack critical infrastructure in neighbouring countries if the threatened attacks proceed. Iranian politicians, including former President Hassan Rouhani, have condemned Trump’s statements, highlighting Iran’s resilience and cultural heritage.As the situation unfolds, protests and demonstrations are taking place across the country. State-backed motorcades are roaming the streets of Tehran, playing revolutionary songs, while armed checkpoints maintain control over highways and public spaces.
#iran #power #tehran
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World Economy Apr 07, 2026

The Dark Side of Private Equity: How Capitalism's Endgame Impacts Everyday Life

The article explores the growing influence of private equity on everyday life in Britain, from nurs…
The nursery I visited, with its free croissants and Scandinavian-style furniture, seemed like a luxury, but it was just one example of how private equity has quietly infiltrated our daily lives. These firms now own a vast array of essential services, including water companies, apartment blocks, student accommodation, care homes, and children's homes.The problems arise when profit-driven fund managers prioritize returns over social welfare. Nurseries backed by private equity have reported profits up to seven times greater than non-profit nurseries, while spending up to 14% less on staff and experiencing higher staff turnover rates. This model is unsustainable and can leave parents without childcare and workers without jobs.Private equity's business model, which often involves leveraged buyouts and loading debt onto companies, can have disastrous effects on public services. The industry's lack of transparency and accountability makes it difficult to track the flow of money and hold fund managers accountable.The rise of private equity reflects a broader shift in capitalism, where debt-driven speculation has become a dominant route to building wealth. This has led to a zero-sum game where some individuals' gains come at the expense of others. As capitalism evolves, it's clear that those on top have discovered a new formula for building wealth: buying up essential services, loading them with debt, and passing the consequences on to the public.
#private #equity #more
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World Economy Apr 07, 2026

Readers Call on Waitrose to Support Sacked Employee as Shoplifting Surge Grows

A collection of Guardian letters urges Waitrose’s leadership to back former employee Walker Smith, …
Waitrose faces mounting pressure after a reader highlighted the dismissal of former employee Walker Smith, who intervened to stop a shoplifter taking Easter eggs. The writer argues that senior management should step off their "ivory tower" and experience the shop floor to grasp the daily shoplifting epidemic confronting staff.The same contributor suggests a grassroots campaign: a “Don’t‑shop Wednesday” at Waitrose locations to demonstrate public solidarity with Smith and to force senior executives to address the issue directly.Other letters shared in the edition range from a heart‑warming story about a Labrador named Beau rescuing its owner after a cardiac arrest, to light‑hearted observations about shared birthdays of political figures and the challenges of spelling uncommon surnames. These personal reflections underscore the diverse voices that populate the Guardian’s letters section.Collectively, the submissions illustrate a broader concern: retail workers’ safety and morale are being tested by rising theft, and public support may be pivotal in shaping corporate responses.
#our #waitrose #april
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Society Apr 07, 2026

Renowned Child Psychiatrist Judith Rapoport, Who Brought OCD to Global Awareness, Dies at 92

Judith Rapoport, a pioneering child psychiatrist whose 1989 bestseller demystified obsessive‑compul…
Judith Rapoport, a leading child psychiatrist, passed away at 92, leaving a legacy defined by her groundbreaking work on obsessive‑compulsive disorder (OCD). Her 1989 book, The Boy Who Couldn’t Stop Washing, translated into more than twenty languages, presented complex research in a clear, jargon‑free style that resonated with a broad audience. OCD is characterized by compulsive rituals—re‑tying shoelaces, repeatedly checking switches, or incessant hand‑washing—that can dominate a person’s daily life. Before Rapoport’s book, many sufferers concealed their symptoms out of shame, unaware that they were not alone. Rapoport’s research demonstrated that OCD has a neurological foundation and may affect up to 2% of the population, challenging prevailing beliefs that it stemmed from overly strict parenting. She proved that the disorder can be hereditary and responsive to medication. In a pivotal 1989 double‑blind trial, she showed that the antidepressant clomipramine significantly reduced OCD symptoms, prompting the U.S. Food and Drug Administration to approve its use for the condition—a landmark moment in psychiatric treatment. Patients and colleagues credit her work with reducing stigma. "Reading Rapoport’s book washed away my shame," recalled Charles Gentz, who lives with OCD, while Professor Gabrielle Shapiro of the Icahn School of Medicine noted that the book “reduced the stigma for these people.” Rapoport herself reflected, “If my work alleviated just part of their pain, then it was not wasted time.” Born in New York City to a schoolteacher mother and a businessman father, she grew up with a literary lineage—her grandfather translated Ibsen into Yiddish. She excelled academically, graduating magna cum laude from Swarthmore College in 1955** and earning her medical degree from Harvard Medical School in 1959, where she met her husband, Stanley Rapoport. After early positions at Mount Sinai and the Massachusetts Mental Health Center, she and her husband secured fellowships in Sweden, conducting research at Uppsala University and the Karolinska Institute on women seeking abortions abroad. Returning to the United States, Rapoport joined the National Institute of Mental Health (NIMH) in 1976. There she led the institute’s child psychiatry branch from 1984, steering American psychiatry away from Freudian models toward a **biology‑focused** approach. Beyond OCD, she made significant contributions to the understanding of attention‑deficit hyperactivity disorder (ADHD) and childhood schizophrenia. Her 1978 study revealed that amphetamine improved concentration in both hyperactive and control children, contradicting the notion that stimulants only calm hyperactivity. Using MRI, she showed that childhood schizophrenia is progressive, involving loss of brain matter—a finding that shifted the focus from parenting to neurobiology. Rapoport’s expertise reached mainstream audiences through appearances on shows hosted by Oprah Winfrey and Larry King, further amplifying her message. By the time she retired in 2017, she had authored over 300 scientific papers, several books, and earned prestigious honors, including fellowship in the Institute of Medicine (1991) and the American Academy of Arts and Sciences (2000). Colleague Gabrielle Shapiro described her as “a pioneer who turned child psychiatry into a modern, evidence‑based discipline.” Outside the laboratory, she enjoyed music, theatre, hiking, and gardening. She is survived by her husband, two sons, and four grandsons.
#she #her #rapoport
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Video Apr 07, 2026

Israeli Forces Deploy Tear Gas on Palestinian Youth in Hebron Raid, Heightening Tensions

During a security operation in Hebron, Israeli soldiers used tear gas against Palestinian youths, u…
In a recent security operation in the city of Hebron, Israeli soldiers resorted to tear‑gas deployment against a group of Palestinian youths. The incident, reported by Al Jazeera on April 6, 2026, adds to a series of confrontations that have marked the volatile environment of the West Bank. The use of crowd‑control agents during the raid highlights the heightened tension between Israeli security forces and the local Palestinian population. While the exact trigger for the deployment was not detailed, the episode reflects broader patterns of friction that have persisted throughout the region. Human‑rights observers often note that tear‑gas usage can exacerbate community grievances, potentially leading to further unrest. In the context of Hebron—a city with a long history of clashes—such incidents can have ripple effects on both local stability and the broader diplomatic landscape. International stakeholders continue to monitor the situation closely, emphasizing the need for restraint and dialogue to prevent escalation. The latest episode serves as a reminder of the fragile security dynamics that shape daily life in the contested territories.
#israeli #soldiers #fire
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Politics Apr 07, 2026

US Threats Against Iranian Bridges: A Risk to Civilian Infrastructure and Economy

The US has threatened to target Iran's critical infrastructure, including its bridges, if it does n…
The United States has issued a threat to demolish Iran's critical infrastructure, including bridges and power plants, if Tehran does not open the Strait of Hormuz by early Wednesday. This move, described by President Donald Trump as 'Bridge Day', has raised concerns among experts, who warn that it could amount to war crimes.Iran has approximately 300,000 bridges and technical structures, with only about 185 exceeding 100m in length. Five of the country's most prominent bridges are at risk:1. Persian Gulf Bridge (Qeshm Island): A 3.4km-long unfinished bridge connecting Qeshm Island to Bandar Abbas, representing an investment of up to $700m. Destroying it would erase decades of national planning and impact Iran's hopes for a direct link to the island.2. Lake Urmia Bridge (Shahid Kalantari Bridge): A 1.7km-long bridge connecting Tabriz and Urmia, cutting the driving distance between the cities from 240km to 130km. An attack could trigger an ecological disaster by dumping steel pilings and concrete into the shrinking Lake Urmia.3. Sadr Multilevel Expressway: An 11km-long bridge in Tehran, supporting millions of commuters daily. An attack could cause massive urban casualties, destroy a key transport artery, and plunge Tehran's emergency evacuation systems into chaos.4. Karun 4 Arch Bridge: A 378m-long bridge in Chaharmahal and Bakhtiari province, crucial for connecting Shahr-e-Kord and Izeh. Bombing it risks causing secondary damage to the hydroelectric facility, potentially leading to fatal flooding.5. Ghadir Cable-stayed Bridge (8th Bridge): A 1,014m-long bridge in Ahvaz, spanning the Karun River. Destroying it would cut the city in two, choking off daily movement and emergency services in a province already battered by air strikes.
#United States #Iran #Strait of Hormuz
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World Economy Apr 07, 2026

Vietnam gig workers' earnings slashed as Iran‑linked fuel price surge doubles diesel costs

Rising fuel costs triggered by the Iran‑related blockade of the Strait of Hormuz have forced Vietna…
Vietnam’s gig‑economy is under pressure as fuel prices soar following the Iran‑related blockade of the Strait of Hormuz. Nguyen, an e‑hailing driver in Ho Chi Minh City, reported that a 7‑hour shift earned him 240,000 VND (≈$9.11) while fuel alone cost 120,000 VND (≈$4.56), wiping out half his income.Diesel prices have more than doubled and petrol has risen by almost 30 %, straining riders who rely on motorcycles – the dominant transport mode in a city of over 7 million two‑wheelers.In response, Prime Minister Pham Minh Chinh announced a temporary suspension of the environmental tax on diesel, petrol and aviation fuel until 15 April, a move that will forfeit an estimated $273 million in revenue but aims to curb the price surge.Experts warn the shock highlights Vietnam’s vulnerability to external conflicts. Nguyen Khac Giang, a visiting fellow at the ISEAS‑Yusof Ishak Institute, said the tax cut is essential to “keep macro‑economic stability intact” amid “turbulence outside Vietnam”.Beyond gig workers, the ripple effect reaches public transport and airlines. Bus operators have raised fares by 3,000 VND (≈$0.11) yet still face losses, while Vietnam Airlines and Vietjet have trimmed flight schedules.Gig workers lack collective bargaining power. Do Hai Ha, a University of Melbourne research fellow, noted that platform drivers “have no chance to negotiate with the platforms” and are excluded from minimum‑wage or overtime protections, forcing many to work longer hours for diminishing returns.Small‑scale entrepreneurs are also feeling the pinch. A fisherman from Binh Thuan reported that his catch price fell from 800,000 VND (≈$30) to 650,000 VND (≈$24) as fuel costs climbed, while a bus fare collector on route 13 said the company cannot absorb the higher fuel bill despite modest fare hikes.Households are cutting back on essential goods. Uyen Pham of Saigon Children’s Charity observed that the price of bottled cooking gas has nearly doubled, prompting low‑income families to revert to wood‑fuel stoves and limit travel to see relatives.The crisis is prompting a strategic rethink on energy policy. Giang warned that Vietnam’s reliance on just two refineries – which currently meet only 40 % of national petrol demand – is unsustainable, urging accelerated investment in domestic refining capacity.Corporate responses are already shifting. Vingroup, the country’s largest conglomerate, announced it would pause a planned LNG‑fired power plant and redirect funds to renewable projects, citing “significant risk of high fuel prices” linked to the war.For workers like Duy, who runs a café near a petrol station, the tax suspension offers modest relief: projected price cuts of about 25 % for petrol and 5 % for diesel could ease daily expenses that had briefly doubled.
#vietnam #prices #fuel
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