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David Miliband, former British foreign secretary and head of the International Rescue Committee (IRC), has warned that cuts to overseas aid by countries such as the US and UK will worsen global economic instability and humanitarian crises. Speaking at the International Monetary Fund and World Bank meetings in Washington, Miliband emphasized that the current global landscape is more interconnected than ever, and untended humanitarian crises can incubate political instability.Miliband expressed regret over the UK's decision to slash its aid budget under Keir Starmer's government, citing that supporting the world's poorest is morally justifiable and a 'good investment for Britain'. He also criticized the US under Donald Trump for 'abandoning' its aid program, which he believes will have far-reaching consequences for global stability.The Middle East conflict, particularly the Iran war, is expected to increase global poverty and displace millions of people. Miliband highlighted that 32.5 million people globally could be plunged into poverty due to the economic fallout from the conflict, with developing countries being hit the hardest. The closure of the Strait of Hormuz has led to soaring global energy and fertilizer prices, posing a 'food security timebomb' that could cause widespread hunger.Western governments, including the US, Germany, France, and the UK, are cutting their aid spending amid elevated borrowing and debt levels. According to the Organisation for Economic Co-operation and Development, rich countries cut aid spending by $174.3 billion in 2025, a decline of almost a quarter from 2024. Miliband argued that now is a critical time for international support, as the evidence shows that aid has a positive impact on reducing poverty.

Netflix co-founder Reed Hastings is leaving the streaming service he co-founded 29 years ago, as the company regains its footing after losing a $72 billion deal for Warner Bros Discovery to Paramount Skydance.In a letter to investors released on Thursday, Netflix said Hastings will not stand for re-election at its annual meeting in June and plans to focus on philanthropy and other pursuits.The company's stock plunged about 8 percent on the news of Hastings's departure. The co-founder is credited with helping to revolutionize how movies and television shows are delivered in homes, upending Hollywood's business model.“Netflix is growing revenues double-digits, expanding margins in 2026 and gushing free cash flow,” said LightShed Partners media analyst Richard Greenfield. “While the Q1 was uneventful financially, the departure of Reed Hastings has spooked investors.”Netflix reaffirmed in a 14-page shareholder letter that its mission remains “ambitious and unchanged” – to entertain the world, providing movies and series for many tastes, cultures and languages. The company’s full-year outlook remained unchanged.The company did not say how it plans to spend the $2.8 billion termination fee it received after losing the Warner Bros movie studio and HBO, and lifted its earnings per share to $1.23 in the first quarter compared with 66 cents per share in the same quarter last year.Revenue rose to $12.25 billion, an increase of 16 percent from the year-ago period, modestly exceeding analyst forecasts of $12.18 billion.Netflix, which long told investors that a Warner Bros acquisition was a “nice to have, not need to have” proposition, highlighted areas of future growth.The company said its investment in expanding its entertainment offerings, with video podcasts and live entertainment – such as the World Baseball Classic in Japan – is driving engagement.It plans to use technology to improve the user experience and improve monetization, as advertising revenue remains on track to reach $3 billion in 2026 – a twofold increase from a year ago.

South Africa announced the appointment of Roelf Meyer, a 78‑year‑old former minister and chief negotiator for the apartheid government, as its new ambassador to the United States. The decision, made by President Cyril Ramaphosa, is intended to heal the diplomatic breach that widened after the United States, under President Donald Trump, expelled the previous envoy, Ebrahim Rasool, in March 2025. Meyer replaces Rasool, who was dismissed after publicly labeling Trump’s global movement as “white supremacist.” Since then, Pretoria has lacked formal representation in Washington, a gap the government hopes to close with Meyer’s extensive negotiation experience. The bilateral relationship has deteriorated since Trump assumed office in January 2024, with the U.S. president repeatedly criticising South Africa’s affirmative‑action policies and falsely alleging a “white genocide.” Trump’s administration even offered expedited U.S. citizenship to Afrikaners claiming persecution, while freezing foreign assistance over a land‑ownership law that mandates at least 30 % Black participation in companies. South Africa’s recent actions have further strained ties: filing a genocide case against Israel at the International Court of Justice and inviting Iran to a BRICS naval exercise off its coast, prompting Washington to accuse Pretoria of “cosying up to Iran.” The BRICS grouping, of which South Africa is a founding member, is viewed by Trump as an economic challenge to U.S. dominance.In a statement, Ramaphosa described Meyer as “a very loyal and patriotic South African” who is “more than qualified” to re‑calibrate relations with the United States and engage with stakeholders on Capitol Hill and across federal agencies. Meyer, who leads the global consultancy In Transformation Initiative, has a long‑standing record in peace negotiations across Northern Ireland, Sri Lanka, Rwanda, Burundi, Kosovo, Bolivia, the Basque region and the Middle East. Domestically, he was the chief negotiator for the white‑minority government during the early‑1990s talks that ended apartheid, later serving as Minister of Constitutional Development under Nelson Mandela and co‑founding the United Democratic Movement before joining the African National Congress in 2006. Critics, notably the Economic Freedom Fighters (EFF), argue that appointing a former apartheid official signals a willingness to appease Trump’s “white supremacist whims” and that Meyer’s age limits opportunities for younger diplomats. The EFF highlighted his past role in the Department of Law and Order, which enforced apartheid repression. Despite the political controversy, South African analysts stress that the priority for the new ambassador is economic. U.S.–South Africa bilateral trade stands at $26 billion, making Washington Pretoria’s second‑largest trading partner after China. The focus, according to researcher Thembisa Fakude, will be on attracting U.S. investment and creating jobs rather than merely countering Trump’s rhetoric. When Ramaphosa visited the White House in May 2025, he included two white South African golfers in the delegation to soften Trump’s concerns about alleged persecution of white farmers. However, Fakude notes that most South Africans are indifferent to the “artificial” accusations and are more interested in tangible economic benefits. The appointment of Meyer thus represents a calculated diplomatic gamble: leveraging his negotiation pedigree to restore confidence, while navigating domestic criticism and a volatile U.S. political climate.

The analysis explores the dual narrative surrounding Iran's economic performance amid heightened war-related pressures. While some observers argue that the economy is buckling under the strain of conflict and intensified sanctions, others point to indicators that suggest a degree of stability and adaptability despite the challenges.Key factors under review include the impact of disrupted trade routes, inflationary trends, and reduced foreign investment, alongside government measures aimed at mitigating these shocks. The piece does not present new data but frames the debate on Iran's economic trajectory within the broader context of regional instability.

Pellegrino Matarazzo, the coach of Real Sociedad, has had an extraordinary journey from New Jersey to Seville. Born to Neapolitan émigrés, Matarazzo's love for football was ignited at a young age. He earned a degree in applied mathematics from Columbia University but chose to pursue a career in football instead of investment banking.Matarazzo's journey took him from playing in Germany's third and fourth tiers to coaching in the Bundesliga. He successfully led Stuttgart back to the Bundesliga and Hoffenheim back to Europe. His impressive track record made him an attractive candidate for Real Sociedad, a team he joined in December.Under Matarazzo's leadership, Real Sociedad has experienced a remarkable turnaround. The team had just 17 points in 17 games and was on the brink of relegation. However, Matarazzo's impact was immediate, and they are now within reach of a Champions League place and feature in a cup final, having defeated Athletic en route.Matarazzo attributes his success to his ability to adapt to different cultures and his willingness to connect with the people and history of the region. He emphasizes the importance of understanding the club's values and identity, which has earned him the appreciation of the fans.As Real Sociedad prepares to face Atlético Madrid in the Copa del Rey final, Matarazzo expresses his excitement and gratitude for the opportunity. He acknowledges the significance of the moment, not just for the team but also for the city and the fans, who have been waiting 39 years for a cup final.

The Trump administration is formally enlisting foreign governments to support a sweeping reorientation of global development policy, favoring trade over aid. This initiative, set to be introduced at the United Nations later this month, aims to move away from direct aid to poor nations and towards increased trade led by private companies. According to Tommy Pigott, Principal Deputy Spokesperson at the State Department, the initiative rejects what he calls a failed aid model, emphasizing that trade and free market capitalism are the surest paths to prosperity. Pigott also criticized those advocating for 'aid not trade,' suggesting they are supporting a corrupt NGO industrial complex. The initiative's four stated aims include: advancing pro-business reforms in developing economies, facilitating government-to-private sector dialogue to attract investment, highlighting countries that have pursued free-market development, and brokering business partnerships between developing nations and US companies or international organizations. This push comes amid a broader trend of diminishing humanitarian aid globally. OECD preliminary figures show that 26 of 34 donor nations shrank their aid budgets in 2025, with significant cuts in countries like France, Germany, and the United Kingdom. Chatham House estimates that the 17 largest donors are on course to cut more than $60 billion in aid between 2023 and 2026. The UK's commitment to aid is set to decrease to 0.3% of gross national income by 2027, its lowest share since 1999. A study published in The Lancet warns that sustained global aid cuts could result in at least 9.4 million additional deaths by 2030. The Center for Global Development estimates that USAID cuts alone may have already contributed to between 500,000 and a million deaths in 2025. The US mission to the United Nations is expected to host a formal signing event for the declaration before the end of April.

UK Chancellor Rachel Reeves has announced that she and Energy Secretary Ed Miliband are working to break the link between gas prices and electricity costs in the UK. Currently, under the marginal cost pricing model, gas prices almost always set the price of electricity. Speaking in Washington, Reeves explained that when gas prices are high, electricity costs increase even though the cost of producing electricity doesn't change. The goal is to delink these prices, especially as renewable energy makes up a larger part of the UK's energy mix. Renewables have already reduced the time gas sets the wholesale price of electricity by about a third since the early 2020s, according to the Department for Energy Security and Net Zero. The head of Energy UK, Dhara Vyas, noted that decoupling electricity prices from gas will occur gradually with the transition to clean power. Reeves also discussed encouraging investment in North Sea oil and gas tiebacks, which involve using existing infrastructure to exploit larger areas of oil and gas. This approach is seen as the quickest way to bring more oil and gas online. Greenpeace has proposed moving gas plants into a regulated asset base to make gas a strategic reserve and reduce its impact on market prices. The organization argues that this could save billions annually and benefit from cheaper, homegrown renewables.

Chancellor Rachel Reeves cautioned that the push to raise Britain’s defence budget will likely demand reductions in other spending areas, notably welfare, as the nation confronts escalating geopolitical pressures. She emphasized that the government is exploring a range of options but aims to avoid new taxes or extra borrowing, noting that “we already spend £1 in every £10 on servicing the debt.” Reeves highlighted her willingness to challenge party orthodoxy, pointing to last year’s budget moves that freed additional funds for defence, and said, “I’m willing to make difficult choices for national security.” Speaking on the sidelines of the International Monetary Fund spring meetings in Washington, she referenced the government’s 10‑year defence investment plan and stressed the importance of allocating resources appropriately. While refusing to detail which welfare programmes might be trimmed, Reeves reaffirmed that “national security always comes first” and confirmed that Labour will keep its manifesto pledge to retain the pension triple‑lock. Her stance mirrors Health Secretary Wes Streeting, who earlier warned that welfare reforms could be required to meet “the challenge of the world we face.” The Starmer administration faces mounting pressure from opposition MPs and senior military figures, especially after US President Donald Trump’s threats to withdraw the United States from NATO and the ongoing Iran‑Israel and Russia‑Ukraine conflicts. Current forecasts show UK defence spending reaching 2.6 % of GDP by April 2027, surpassing targets set by both Labour and the opposition before the 2024 general election. Reeves proudly noted that her previous budgets delivered “the biggest uplift in defence spending since the end of the Cold War,” arguing that a robust economy depends on strong national security. The IMF warned that a further escalation in the Middle‑East could trigger a global recession, with the UK potentially hit hardest among G7 nations, and cautioned that government debt is on track to hit its highest level since World War II. To fund household and business support without widening the fiscal gap, Reeves suggested reprioritising other budgets, criticizing the blanket subsidies of the previous Conservative government that cost over £100 billion and contributed to higher inflation and interest rates. She concluded that “the best way to help families and businesses is to keep prices, costs and interest rates down,” underscoring the fiscal balancing act ahead.

Piteå IF, a team in Sweden's top women's football division, Damallsvenskan, is struggling to stay competitive due to its remote location in northern Sweden. The club is entering its 17th season as a top-division side, but faces significant challenges, including high travel costs to away games.The club's managing director, Emelie Lövgren, notes that 13 of the 14 teams in the league are based in the south of Sweden, making travel a major expense. A trip to the southernmost city, Malmö, is 908 miles one-way, while even a trip to Uppsala costs around £8,000 (95,000KR) per season.Lövgren emphasizes that the club is prioritizing cost-cutting over performance, which she describes as the 'saddest part.' The club has sold several key players, including goalkeeper Lauren Brzykcy to Bristol City, to balance its finances. Wages are increasing by 15-20% annually, making it difficult for Piteå IF to keep up.The club's sporting director, James Burgin, notes that it's a 'complete catch-22' to attract and retain players in the squad. The club is exploring solutions, including external investment and raising awareness about the struggles faced by northern teams.Lövgren concludes that change needs to come centrally to support northern teams and ensure the long-term viability of women's football in the region.