Latest Breaking News
Trump Signals Iran War 'Very Close to Over' as Peace Talks Resume
US President Donald Trump stated the war with Iran is nearing an end, with peace talks potentially restarting in the next two days. He told Fox Business and ABC News of optimism for a second round of ceasefire discussions after a two-week truce.
Markets rallied on the news, stabilizing some global energy prices temporarily.
US Maintains Blockade of Strait of Hormuz as Bargaining Tool
The US military has blocked ships through the Strait of Hormuz, with over 10,000 troops involved in preventing access to Iranian ports. Six ships reportedly made U-turns due to the blockade, which remains in place despite talks.
Tehran considers pausing shipments to avoid escalation.
Canada's Carney Announces $2.4B Gas Tax Holiday Amid Oil Surge
Prime Minister Mark Carney paused the federal excise tax on gas until Labour Day to counter rising oil prices from the Iran conflict. The measure costs $2.4 billion, with Liberals securing a majority after byelection wins.
Conservative Leader Pierre Poilievre deems it insufficient.
IMF Downgrades Global Growth to 3.1% Due to Middle East War
The IMF forecasts global growth at 3.1% for 2026, down from January due to the Hormuz closure and energy disruptions. Headline inflation is expected to rise to 4.4% under a reference scenario of short-lived conflict.
A swift end to hostilities is urged to limit damage.
Lebanon and Israel Hold First High-Level Talks in 30 Years
Lebanon and Israel conducted talks in Washington, the first in over three decades, amid the broader Middle East tensions. Officials downplay immediate hopes for ending the Hezbollah war.
Discussions occurred alongside US-Iran developments.
China Condemns US Blockade of Strait of Hormuz as 'Dangerous'
China labeled the US blockade of Iranian ports 'dangerous and irresponsible,' highlighting risks to global trade. The action followed failed peace talks and aims to pressure Iran.
It exacerbates energy market volatility.
ECB's Lagarde: War Settlement Vital for Global Economy
ECB President Christine Lagarde stated a Middle East war settlement is in the best interest of the global economy. She emphasized the Strait of Hormuz remains effectively closed, fueling inflation risks.
Comments came during market analysis.
Iran Considers Pausing Hormuz Shipments to Avoid US Blockade Test
Tehran is weighing a pause in shipments through the Strait of Hormuz to sidestep challenging the US blockade. This follows US demands for reopening the route.
It reflects de-escalation efforts amid talks.
Middle East War Drives Oil Prices Higher, Risks Global Recession
Disruptions from the US-Iran conflict have sent oil prices on a roller coaster, raising prolonged recession fears. Supply chain issues, including energy markets, deteriorate economic conditions sharply.
Global inflation is set to rise.
Trump Uses Hormuz Blockade as Leverage in Iran Negotiations
President Trump is employing the Strait of Hormuz blockade as a bargaining chip after face-to-face talks failed. The US claims military success in blocking Iranian shipping.
Optimism grows for resumed ceasefire extension.
Experts Analyze Middle East Developments on Bloomberg Horizons
Analysts like Ryan Bohl from RANE discussed US-Iran talks and regional implications on Bloomberg Television. Guests including BlackRock's Ben Powell addressed investment strategies amid uncertainty.
Focus included Lebanon-Israel dialogue.