Wednesday, March 11, 2026

World

US-Israel War on Iran Escalates With No Exit Plan

Eleven days into the US-Israeli military campaign against Iran, the White House has failed to articulate clear war aims to congressional Democrats, while Tehran has rejected two ceasefire overtures from Trump envoy Steve Witkoff. Iran claims US-Israeli strikes have hit nearly 10,000 civilian sites and killed more than 1,300 people, while the Pentagon reports around 140 US service members wounded. The US military has destroyed 16 Iranian mine-laying vessels near the Strait of Hormuz, which has seen a dramatic fall in shipping traffic since the offensive began on 27 February.

Economy

Oil Markets Swing Wildly as Hormuz Shipping Collapses

Crude oil prices are lurching on contradictory signals from Washington over whether the US will escort commercial ships through the Strait of Hormuz, which has seen a sharp drop in vessel traffic since the war began. The chaos is rippling through the global economy: shipping bosses say war costs will be passed to consumers, US industries from farming to airlines are bracing for sustained higher fuel bills, and Australia's Reserve Bank is now expected to hike its cash rate to 4.1% next week partly in response to surging energy prices.

Politics

UK Abolishes Hereditary Peers in House of Lords

The UK Parliament has ended a centuries-old arrangement, passing a bill that strips 92 hereditary peers of their seats in the House of Lords. A last-minute deal softened the blow by offering life peerages to some Conservatives and crossbenchers who would otherwise have been removed outright. The bill now clears the way for royal assent before the next King's Speech.

Health

Wegovy Linked to Five Times Greater Sudden Sight Loss Risk

A large-scale study has found that patients taking Wegovy face nearly five times the risk of sudden sight loss compared to those on Ozempic, despite both drugs containing the same active ingredient, semaglutide, at different doses. The condition, known as an "eye stroke," reduces blood flow to the optic nerve and is believed to be a dose-related side effect. The finding adds a serious new safety concern to the blockbuster class of weight-loss and diabetes drugs already used by tens of millions worldwide.

World

China and North Korea Resume Passenger Trains After Six Years

China and North Korea have restored direct passenger rail service for the first time since the COVID-era border closure began in 2020, marking a significant warming of ties between the two allies. The resumption also comes as Pyongyang voiced support for Iran's newly selected supreme leader, Mojtaba Khamenei, and condemned the US-Israeli military campaign. Tickets for the first train departing Thursday sold out immediately.