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Business May 26, 2026

Ofgem Should Admit Electricity Prices Will Remain Elevated for Years, Says Nils Pratley

Energy regulator Ofgem is expected to keep the electricity price cap high as wholesale and non‑comm…
Britain’s energy regulator is poised to announce another steep quarterly price‑cap, signalling that electricity bills will stay high for the foreseeable future. The rise is driven not just by volatile wholesale prices but by a cascade of non‑commodity costs that are set to balloon over the next decade.Why the Next Ofgem Price Cap Is Likely to Remain ElevatedEnergy consultant Cornwall Insight predicts the typical household electricity bill will reach £1,850 this quarter – an increase of £209 from the previous period. The regulator’s messaging will likely cite the ongoing disruption of the Strait of Hormuz and the mitigating effect of new wind and solar generation.Cost Drivers Behind the Rising Electricity BillsWholesale electricity now accounts for only 30% of the bill, down from 90% a few years ago.Non‑commodity charges – grid upgrades, carbon taxes, warm‑home discounts and nuclear subsidies – dominate the cost structure.Network Use of System charges are projected to jump from £7.6bn this year to £12.1bn by 2029‑30, a ~60% increase.Balancing costs could rise from £2bn annually now to as much as £8bn by 2030.Industry leaders warn that even a 50% cut in wholesale prices would still leave bills 20% higher due to fixed non‑commodity costs.Broader Economic and Industrial ImplicationsHigh electricity prices threaten UK manufacturing competitiveness, as highlighted by the CBI and Energy UK. The Climate Change Committee stresses that cheaper power is essential to accelerate heat‑pump and electric‑vehicle adoption, yet the current cost trajectory delays those decarbonisation gains.What Transparent Medium‑Term Forecasts Could ChangeAnalyst Ben James estimates an average increase of £79 per household between 2025 and 2030. If Ofgem published similar medium‑term models, policymakers could better allocate levies, decide on taxation versus direct subsidies, and provide households with clearer expectations. Greater openness would also sharpen the political debate on who should bear the rising grid and balancing costs.
#Ofgem #Cornwall Insight #Neso
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World Wide May 26, 2026

Iran Vows ‘Swift, Decisive Response’ After US Strikes

Iran’s Islamic Revolutionary Guard Corps announced it downed a U.S. Reaper drone and warned of a sw…
Iran’s Immediate Reaction to Recent U.S. Military ActionsIran’s Islamic Revolutionary Guard Corps issued a stark warning, pledging a "swift, decisive response" after a series of U.S. strikes in its southern waters.IRGC Confirms Downing of a U.S. Reaper Drone Over Iranian AirspaceThe Guard Corps said it "downed" a U.S. Reaper drone that entered Iranian airspace during the heightened crisis.The incident occurred as diplomatic talks continued in Qatar, raising concerns about a rapid escalation.U.S. Strikes Target Missile Launch Sites and Mine‑Laying Vessels in Southern IranU.S. forces attacked identified missile launch sites and vessels involved in mine‑laying operations, describing the action as "self‑defence".Iranian media reported explosions in the southern port city of Bandar Abbas, though casualty figures were not disclosed.Lack of Reported Casualty Figures Limits Immediate AssessmentBoth sides have withheld detailed casualty numbers, making it difficult to gauge the human cost of the latest exchanges.Regional Implications for Ongoing Qatar‑Mediated NegotiationsThe military flare‑up threatens to derail peace talks aimed at de‑escalating tensions in the Strait of Hormuz.Regional actors are watching closely, as any misstep could broaden the conflict.Potential Trajectory of Iran‑U.S. Military PosturingAnalysts anticipate a period of heightened alertness, with Iran likely to calibrate its response based on the scale of U.S. actions and the progress of diplomatic talks.
#Iran #United States #Islamic Revolutionary Guard Corps
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Politics May 26, 2026

Mali Crisis Risks Dangerous Spillover Across the Sahel

Mali’s political turmoil threatens to destabilize neighboring Sahel states, prompting urgent warnin…
The ongoing political crisis in Mali—sparked by a series of military coups and the suspension of democratic institutions—has raised alarms about a possible spillover into neighboring countries, endangering the fragile security balance of the Sahel region. Escalating Instability in Mali: Roots of the Current Crisis Since the 2020 and 2021 coups, Mali’s governance structure has been in flux, with the military junta dissolving the parliament, postponing elections, and limiting civil liberties. The withdrawal of UN peacekeeping forces earlier this year further reduced international oversight, creating a security vacuum that extremist groups have begun to exploit. Military junta in power since 2021 Constitution suspended and elections delayed UN peacekeeping mission ended in early 2026 Regional Security Metrics Highlight Growing Tension Regional monitoring agencies report a noticeable uptick in cross‑border attacks and displacement flows, though precise numbers remain limited due to restricted access. The rise in insecurity has prompted the Economic Community of West African States (ECOWAS) to issue statements urging a swift political resolution. Potential Domino Effect Across the Sahel Neighboring states—particularly Burkina Faso, Niger, and Ivory Coast—face heightened risk as armed groups exploit porous borders. A destabilized Mali could serve as a conduit for weapons, fighters, and illicit trafficking, amplifying existing humanitarian crises throughout the region. Scenarios for the Next Six Months Analysts outline three plausible trajectories: Negotiated transition: International mediation leads to a roadmap for elections, easing tensions. Stalemate and fragmentation: Continued junta rule fuels internal dissent and further security deterioration. Regional escalation: Spillover triggers coordinated military responses from ECOWAS and foreign partners. The path chosen will shape not only Mali’s future but also the broader stability of the Sahel.
#Mali #ECOWAS #Sahel
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World Wide May 26, 2026

US Military Strikes Iran During Peace Talks in Qatar Amid Ceasefire

The United States has conducted military strikes on targets in southern Iran while Iranian negotiat…
The Lead: Military Action Amid Diplomatic Efforts The United States has launched strikes on targets in southern Iran, the US military has confirmed, as Tehran's top negotiators gather in Qatar for talks aimed at reaching a peace deal with Washington. This military action comes despite a ceasefire officially in place between the two nations since April 8. The Event Details: US "Self-Defence Strikes" on Iranian Targets US Central Command (CENTCOM) stated it carried out "self-defence strikes" to protect US troops from threats posed by Iranian forces. "Targets included missile launch sites and Iranian boats attempting to emplace mines," Navy Captain Tim Hawkins, a CENTCOM spokesperson, said in a statement to Al Jazeera late on Monday. CENTCOM emphasized that "US Central Command continues to defend our forces while using restraint during the ongoing ceasefire." However, Iranian sources told Al Jazeera that the Islamic Revolutionary Guard Corps (IRGC) had targeted a vessel at sea before the US strikes, with several IRGC personnel reportedly killed in the attacks. The Impact Analysis: Diplomatic Talks in Jeopardy The latest attacks come at a critical moment in diplomatic efforts, with a high-level Iranian delegation having arrived in Doha earlier on Monday to discuss roadblocks to a permanent peace deal. The delegation includes Iranian Minister of Foreign Affairs Abbas Araghchi and Iranian Parliament Speaker Mohammad Bagher Ghalibaf. Reporting from Washington, DC, Al Jazeera's Alan Fisher noted that the strikes are likely to derail the ongoing negotiations to end the US-Israel war on Iran. "There have been a number of skirmishes like this, particularly just after the start of the ceasefire," Fisher said, adding that "there is very limited information coming from the US side; we don't know the extent of the operation." The Prediction: Trump's "Great Deal" and Regional Implications US President Donald Trump, who has expressed keenness to reach a deal, has insisted on a "Great Deal for all or, no Deal at all." Trump has also sought to tie the peace negotiations to a commitment by Muslim-majority countries, including Saudi Arabia, Qatar, and Pakistan, to sign up to the Abraham Accords to normalize ties with Israel. Iran's Ministry of Foreign Affairs acknowledged that Washington and Tehran had made progress in their talks but downplayed the prospect of an impending breakthrough. "To say that we have reached a conclusion on a large portion of the issues under discussion would be correct," said ministry spokesman Esmaeil Baghaei. "However, to say that this means an agreement is on the verge of being signed is not something anyone can claim."
#United States #Iran #Donald Trump
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World Wide May 26, 2026

Philippines Ends Rescue Efforts After Building Collapse

Emergency officials in the Philippines have ended a two-day rescue operation for 16 people missing …
The Building Collapse Emergency officials in the northern Philippines have ended a two-day rescue operation for 16 people missing after a nine-storey building under construction collapsed, killing at least four people. Rescue Efforts Called Off The focus shifted on Tuesday to recovering the remains of the victims after the bodies of four people, including a Malaysian man and two trapped construction workers, were pulled from the debris of the condominium project that collapsed onto a nearby hotel in the city of Angeles, north of Manila, early on Sunday. Impact on Families Alfredo Albis, 55, told the AFP news agency he believed two of his cousins who worked with him at the building site were among the missing. “They were working here to earn for their families,” said Albis, who was asleep at a nearby barracks for workers when the structure collapsed. Official Response Maria Leah Sajili, information officer at the regional Bureau of Fire Protection, told a news briefing on Tuesday, “We know how hard this is for you. We sympathise with what you are going through. Rest assured, we did everything we could to save lives, and now we have to move forward.” Hopes Fade for Missing Victims Al Jazeera’s Barnaby Lo, reporting from Angeles, said the last 48 hours have been a “rollercoaster” for families of construction workers still believed buried under the rubble. “My hope of still finding him alive has collapsed,” Lea Casilao, whose husband remains missing, told the Reuters news agency.
#Philippines #Building Collapse #Rescue Efforts
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Sports May 26, 2026

Michael Jordan Pays Tribute to Pep Guardiola at Man City Farewell

Basketball legend Michael Jordan paid tribute to departing Manchester City manager Pep Guardiola du…
The Tribute from a Legend Basketball legend Michael Jordan has paid tribute to Pep Guardiola as the departing Manchester City manager was given a final sendoff during an open-top bus parade and after-party featuring an on-stage contract announcement by one of the club’s top players. Guardiola's Farewell Celebration After the parade through the streets of Manchester on Monday, a sellout crowd of 19,000 inside the Co-op Live arena near City’s Etihad Stadium witnessed a video message from Jordan to Guardiola on the big screen. “Hey, Pep, this is Michael Jordan,” the six-time National Basketball Association (NBA) champion said. “I just want to congratulate you on an unbelievable career. Enjoy your retirement. “Good luck on the links,” Jordan added, in a nod to Guardiola’s hobby of golf, “and keep them straight. Congratulations.” A Decade of Success Guardiola is leaving after a record-breaking decade in charge of City, in which he won 17 major trophies. The Impact on the Team Former City captain Vincent Kompany, the current Bayern Munich coach, and Noel Gallagher of the Britpop band Oasis attended the event in person. It was arranged to celebrate the domestic cup double of the men’s team as well as the club’s Women’s Super League and FA Youth Cup triumphs. In the part of the show dedicated to the women’s team, record scorer Khadija “Bunny” Shaw announced on stage she had signed a new four-year contract with City, ending speculation linking her with Chelsea. Erling Haaland's Commitment Also speaking on the stage was superstar forward Erling Haaland, who said he was determined to make sure City’s success does not end with the departure of Guardiola and longtime stalwarts Bernardo Silva and John Stones. “It has been an up-and-down season,” Haaland said, “but we are going to try to keep pushing and try to fight to win the biggest trophies we can. “It has been a pleasure to play with Bernardo and John, and of course for Pep. It has been an amazing journey, but we need to keep pushing and fighting even without them.” Guardiola's Emotional Farewell “Thank you so much for coming here tonight to say bye,” Guardiola said. “I’ve felt the connection that this club [has] from the first minute. “Thank you so much. I don’t have enough gratitude. I will have [that with me] for the rest of my life.”
#Pep Guardiola #Manchester City #Michael Jordan
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Politics May 26, 2026

Anticipation in Iran as US Talks Persist Amid New Attacks

Iran and the United States are still negotiating through intermediaries despite a fresh exchange of…
Negotiations Continue Amid Fresh SkirmishesTehran, Iran – Talks between Iran and the United States are ongoing via intermediaries, but no agreement is in sight after a recent exchange of fire heightened distrust.Escalation on the Ground: Recent Missile Strikes and CounterfireThe U.S. military reported striking missile launch sites and Iranian vessels laying mines in southern waters, while Iranian state media said its forces returned fire, resulting in several casualties. The fragile cease‑fire that began on April 8 remains technically intact, but the risk of further clashes persists.Economic Signals: Rial Gains and Stock Market RallyDespite the security tension, Tehran’s markets show signs of optimism. The Iranian rial appreciated more than 5 % this week, trading around 1.73 million per U.S. dollar, close to last month’s all‑time low. The main index of the Tehran Stock Exchange rebounded above 4 million points after a controlled reopening a week earlier, though it fell short of the 4.5 million‑point peak recorded at the start of the year.Broader Economic Strain: Blockade, Inflation, and Internet ShutdownIran’s economy remains under severe pressure from internal mismanagement and external factors, notably the U.S. naval blockade of southern ports and the loss of the United Arab Emirates as a key import source. Inflation continues to erode purchasing power, while a near‑total internet shutdown has crippled jobs and digital commerce. The government is focusing on securing essential food and medicine, but prices for consumer goods, especially electronics previously imported from the UAE, are soaring.What Lies Ahead: Prospects for a Deal and Regional StabilityHard‑line factions in Iran demand full sanction removal and sovereignty over the Strait of Hormuz before any concession, while some citizens hope a memorandum of understanding could ease economic pressure. Analysts note that any temporary agreement may provide short‑term relief but is unlikely to end the broader geopolitical strain, especially with the upcoming World Cup and ongoing regional tensions.
#Iran #United States #Tehran Stock Exchange
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Sports May 26, 2026

Monfils Aims to Follow Ronaldo and LeBron's Footprint by Playing into His 40s

French tennis star Gael Monfils, who turns 40 in September, is determined to extend his career into…
Monfils' Ambitious Retirement PlanGael Monfils is determined to emulate the likes of Cristiano Ronaldo and LeBron James by playing into his 40s and hopes to play at Wimbledon, Montreal and the US Open before bringing down the curtain on his career on home soil at the Paris Masters.The Frenchman, who turns 40 in September, bade a fond farewell to Roland Garros after going down 6-2, 6-3, 3-6, 2-6, 6-0 to compatriot Hugo Gaston in the first round on Monday, walking off to a standing ovation that celebrated a career of two decades.A Career Spanning Two DecadesMonfils will retire at the end of the season as he seeks to manage his body into his 40s."Why do I want to get to the States? Because I want to play until 40. My wish is to be an athlete that plays until 40 years old," Monfils said."Like Stan (Wawrinka), LeBron, Cristiano, (Patrice) Evra, like all of the athletes who have managed to continue their sport until the age of 40."That's what I want to do. You know that whatever happens this summer, I'm locked in to train."Monfils' Tournament Schedule for Final SeasonThe former world number six, who has enjoyed some of his best results on clay, acknowledged that the surface has become more challenging in recent years.While he hopes to secure a wildcard for the US Open, he also plans to play Wimbledon and Montreal."Hopefully Wimbledon. Then need to decide if we go to Washington or not," he said."I think we will ask Montreal, hopefully. I want to say goodbye to Montreal. Obviously I will ask the French Federation to have the US Open wildcard. Hopefully I will have this one."Asia is a bit blurry, to be honest. Then the end of the year, I can tell you I will play Lyon, the new tournament. Nicolas (his agent) wants me to play Vienna, and then hopefully, Paris."The Changing Landscape of Professional TennisThe 13-time ATP title winner reached the French Open semifinals in 2008 and was a key part of France's Davis Cup runs in 2010 and 2014.Monfils' decision to extend his career into his 40s reflects a broader trend in professional sports where athletes are maintaining peak performance levels for longer periods, thanks to advances in sports science, training methodologies, and recovery techniques.The Legacy of Gael Monfils in French TennisAs Monfils approaches the twilight of his career, his impact on French tennis remains significant. His longevity and dedication to the sport have inspired a generation of French players, and his farewell tour is expected to draw significant crowds and media attention across the tournaments he has chosen to play in his final season.
#Gael Monfils #French Open #Cristiano Ronaldo
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Sports May 26, 2026

Haitian Community Fears ICE Enforcement at 2026 World Cup

Haitian Americans fear immigration raids as the United States co‑hosts the 2026 FIFA World Cup. Ris…
Haitian Diaspora’s Fear of ICE at the 2026 World CupEmile, a Haitian truck driver living in Ohio, says he may skip the opening match against Scotland at Gillette Stadium because he worries about being arrested by ICE under the Donald Trump administration’s immigration crackdown. His story reflects a broader anxiety among immigrant communities across the United States as the tournament approaches.Immigration Crackdown Shadows US‑Hosted MatchesThe United States will host 78 of the 104 World Cup matches, including Haiti’s group‑stage games against Scotland, Brazil and Morocco. All three matches are on U.S. soil, raising concerns that ICE operations could target fans, workers, and even tourists at stadiums and fan zones.Haiti’s first World Cup appearance since 1974.Matches: June 14 vs Scotland (Foxborough, MA), Brazil (Philadelphia, PA), Morocco (Atlanta, GA).Haitian diaspora in the U.S.: ~850,000 (largest concentrations in Miami and New York).Ticket Prices and Demographic CostsTicket pricing adds a financial barrier to an already fearful environment. FIFA’s December pricing for the USA opener against Paraguay ranges from $1,120 to $2,735. By comparison, the cheapest seats for the 2022 Qatar final were $302.87,000 Haitians reside in Ohio alone.Hispanic community makes up 20% of the U.S. population, concentrated in CA, TX, FL.According to civil‑rights groups, 70% of those detained by ICE have no criminal record.Broader Implications for Immigrant Communities and Event SecurityMore than 120 U.S. civil‑rights organizations, including the ACLU, issued a travel advisory warning of “serious rights violations” for fans and journalists. Labor union UNITE HERE Local 11, representing ~2,000 hospitality workers at Los Angeles’ SoFi Stadium, has threatened to strike if ICE is deployed on match days.FIFA maintains it “is committed to respecting all internationally recognised human rights,” while a DHS spokesperson argues that only undocumented individuals are legitimate targets for enforcement.What the Future Holds for Immigration Policy and Global Sports EventsIf ICE presence is perceived as a threat, attendance from diaspora groups could decline, pressuring organizers to negotiate clearer protections. Ongoing legal challenges to the Trump administration’s attempt to end Temporary Protected Status may influence future tournament hosting decisions and set precedents for how major sporting events address immigration enforcement.
#Haiti #ICE #World Cup 2026
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