Friday, March 6, 2026

World

US-Israel War on Iran Escalates Across Region

B-2 bombers have destroyed buried Iranian ballistic missile launchers, cutting Iran's missile attack capacity by 90%, while Israel has ordered all 500,000 residents of Beirut's southern suburbs to evacuate as strikes intensify on Lebanon and Iran simultaneously. Iran is retaliating with Shahed drones across the Gulf, hitting near a US base in Kuwait, as Tehran's foreign minister rules out negotiations and Washington blocks a congressional war powers resolution 219-212. Trump has also declared he expects to be involved in choosing Iran's next supreme leader, a statement that would have seemed surreal a month ago.

Economy

Iran War Hammers Markets, Strains Global Oil Supply

Global stock markets fell sharply Thursday as the Iran conflict shows no sign of resolution, with the Dow Jones down 2% and major European indices off around 1.5-1.6%. The US Treasury issued a 30-day waiver allowing Indian refiners to purchase Russian oil stranded at sea, a stopgap designed to keep global supply flowing while Strait of Hormuz transit remains paralysed — though JPMorgan says the US lacks the firepower to provide the $350bn in tanker insurance coverage needed to reopen the route. The Strategic Petroleum Reserve, already drained under Biden and never refilled by Trump, leaves the US with limited cushion.

Politics

Trump Fires Noem, Picks Mullin to Lead DHS

Kristi Noem has become the first cabinet member fired in Trump's second term, ousted after a tenure marked by the killing of two US citizens by immigration agents, a rumoured affair, and $220 million spent on self-promotional advertising. Trump has nominated Oklahoma senator and ex-MMA fighter Markwayne Mullin — one of Washington's most vocal ICE supporters — as her replacement, handing the administration's immigration machine to a harder-edged operator.

Tech

US Eyes Nvidia and AMD Chip Exports as Investment Leverage

The Trump administration is drafting rules that would tie exports of Nvidia and AMD advanced AI chips to foreign investment pledges in the United States, turning semiconductor access into an economic bargaining chip. The move would reshape how allies and rivals alike access the hardware underpinning the global AI race, with no country currently exempt from the proposed requirement.

World

Ukraine to Share Drone Expertise With US for Middle East

Zelenskyy has ordered Ukraine to provide equipment and counter-drone expertise to the US and its allies to help defeat Iranian Shahed drones in the Middle East, framing the exchange as reciprocal: military knowledge for continued diplomatic backing against Russia. Separately, a British F-35 pilot flying out of RAF Akrotiri in Cyprus became the first of his aircraft type to destroy a target in combat, shooting down two Shahed drones over Jordan with Asraam missiles.