Thursday, March 26, 2026
Iran's foreign minister has flatly denied that any negotiations with the United States are taking place, even as Trump insists Tehran wants a deal but is "afraid to say it." Tehran's parliament speaker simultaneously warned a regional neighbour against occupying Iranian islands, while Egypt has offered to host de-escalation talks. The US is pressing a 15-point plan that Iranian officials have dismissed as "maximalist."
Trump has confirmed he will travel to Beijing on 14 and 15 May for his first visit to China by a sitting US president since 2017, after the trip was pushed back due to the Iran war. Xi Jinping will make a reciprocal visit to Washington later this year. The summit carries major weight given ongoing trade tensions and China's reported drone shipments to Iran via Russia.
The US Postal Service will impose its first-ever 8% fuel surcharge on packages starting 26 April, a direct consequence of oil price spikes driven by the Iran conflict, running through January 2027. In the UK, Octopus Energy reports a 50% surge in solar panel sales as households hedge against energy volatility, while the government has committed £100 million to reopen a Teesside CO2 plant as a war-contingency measure for food and drink supply chains.
The House of Lords has defied Keir Starmer's government, voting 266 to 141 to back an outright social media ban for under-16s rather than wait for a public consultation. The vote mirrors Australia's ban and puts significant pressure on the government to act legislatively rather than deliberate further. The bill now returns to the Commons, where ministers face a difficult choice between reversing the peers or adopting the ban.
SpaceX has told investors it plans to go public at a $1.75 trillion valuation, targeting a $75 billion raise in what would be one of the largest IPOs in history. The move signals Elon Musk's ambition to unlock fresh capital as the company scales Starlink and its next-generation rocket programme. No timeline has been confirmed, but the figure dwarfs the $150 billion private valuation SpaceX held just two years ago.
