Iran threatens wider trade disruption as US intensifies military strikes

Iran has threatened to block additional regional trade routes as the United States stepped up military operations, deepening a confrontation that has already disrupted global energy markets.

 

The Islamic Revolutionary Guard Corps (IRGC) said the Strait of Hormuz would remain closed until Washington halted what it described as “acts of aggression,” warning that other oil and gas export routes across the Gulf could also be targeted.

 

The threat came after the US Central Command (CENTCOM) confirmed it carried out another round of strikes on Iranian military positions on Wednesday, following overnight attacks. The military said it also intercepted two vessels attempting to breach its recently reinstated blockade of Iranian ports.

According to CENTCOM, the latest 90-minute operation targeted coastal defence systems and cruise missile storage and launch facilities on Greater Tunb Island, with the objective of further reducing Iran’s ability to threaten commercial shipping in the Strait of Hormuz.

The renewed hostilities have heightened concerns over the security of one of the world’s busiest energy corridors, through which around a fifth of global oil supplies normally pass. Tanker movements have slowed sharply, contributing to another surge in global crude prices.

Donald Trump, US President has also warned of broader military action, saying Washington would strike Iranian bridges and power infrastructure if Tehran failed to return to negotiations.

SpaceX shares fall below IPO price after post-listing rally fades

SpaceX shares fell below their June listing price on Wednesday, marking a sharp reversal from the enthusiasm that followed the company’s stock market debut.

The stock dropped to $132.62 per share, below its initial public offering price of $135 and down 41 percent from its post-listing peak. The decline means investors who bought shares around the IPO now face losses if prices remain at current levels.

The company has underperformed the broader Nasdaq market, falling more than 2 percent during Wednesday’s session compared with a modest decline in the index.

SpaceX’s public debut briefly made founder Elon Musk the world’s first trillionaire as investors rushed into the aerospace, satellite and artificial intelligence company. However, the shares have since retreated amid broader weakness across technology stocks and fading post-IPO momentum.

One dead, three missing after boat capsizes near Alcatraz Island

One person has died and three others remain missing after a boat carrying family members capsized near San Francisco’s Alcatraz Island during a memorial gathering.

Emergency services responded after receiving reports of a vessel in distress on Tuesday afternoon. Rescue crews found a man in severe distress in the water and attempted resuscitation before he was pronounced dead on shore.

Authorities said 20 adults were aboard the 50-foot cabin cruiser when it began taking on water in rough seas before overturning. Three passengers were taken to hospital in stable condition, while 13 others were rescued without injury.

Search and rescue operations involving the San Francisco Fire Department and the US Coast Guard continued into the evening as investigators worked to determine the cause of the accident.

France legalises assisted dying under strict eligibility rules

France’s parliament has approved landmark legislation granting terminally ill adults the legal right to assisted dying, ending years of political and ethical debate.

The bill allows eligible adults suffering from incurable, life-threatening illnesses to receive a lethal substance, either through self-administration or, where physically impossible, with assistance from a doctor or nurse.

Access will be limited to French citizens or legal residents who are experiencing unbearable physical or psychological suffering and are capable of giving informed consent.

The legislation passed the National Assembly by 291 votes to 241. President Emmanuel Macron welcomed the outcome, describing it as the fulfilment of a commitment to address one of society’s most sensitive issues through democratic debate.

Wildfire smoke blankets Toronto and spreads into northeastern US

Smoke from major wildfires in northwestern Ontario has pushed air pollution in Toronto to the highest level among major cities worldwide, while drifting into the northeastern United States.

Environment Canada recorded an Air Quality Health Index reading of 10+, categorised as “very high risk”, prompting health authorities to urge residents to avoid strenuous outdoor activity.

Smoke has also affected New York City and neighbouring states, with officials issuing public health alerts ahead of the FIFA World Cup final scheduled for Sunday in nearby New Jersey.

Forecasters expect poor air quality to persist through the end of the week as wildfire smoke continues to spread across the region.

AFRICA

South Africa forms special police unit to investigate anti-migrant leader’s killing

South African police have established a specialised investigative team following the fatal shooting of Andile Mvuyelwa Somgxada, a provincial leader of the anti-migrant group March and March.

Somgxada was shot outside his home east of Johannesburg earlier this month and later died in hospital.

The organisation claims the attack was linked to its campaign against undocumented migration, saying several of its leaders have recently received threats.

 

Acting Police Commissioner Lt Gen Puleng Dimpane said a multidisciplinary team had been assigned to establish the circumstances surrounding the killing and bring those responsible to justice.

Ebola outbreak delays US backed minerals partnership in DR Congo

A worsening Ebola outbreak in the Democratic Republic of Congo is disrupting negotiations over a US-backed critical minerals partnership intended to expand American access to the country’s vast copper and cobalt reserves.

Diplomats and advisers involved in the talks said travel restrictions, quarantine measures and health concerns have delayed meetings between government officials and potential investors.

The outbreak, declared in May, has infected more than 2,000 people and claimed at least 754 lives, according to government figures.

Congo is the world’s largest producer of cobalt and the second-largest supplier of copper, making it central to global competition over minerals needed for electric vehicles and clean energy technologies.

Senegal expected to appoint Lazard as debt adviser

Senegal is expected to appoint investment bank Lazard as its financial adviser on sovereign debt as the government continues efforts to restore confidence in its public finances.

The appointment comes after authorities disclosed previously unreported public liabilities estimated at more than $13 billion, equivalent to over one-quarter of the country’s gross domestic product.

Officials hope the move will strengthen debt management and reassure investors as the government pursues broader fiscal reforms.

Zambia’s former acting president Guy Scott dies at 82

Guy Scott, former Zambian Vice President, who briefly became Africa’s first white head of state in two decades following President Michael Sata’s death in 2014, has died aged 82 after an illness.

President Hakainde Hichilema has ordered a state funeral in honour of Scott, who served as acting president between October 2014 and January 2015.

A Cambridge-trained economist born in Zambia to Scottish parents, Scott was constitutionally barred from contesting the presidency because neither of his parents was Zambian by birth.

Uganda projects fiscal deficit to narrow to 3% by 2031

Uganda expects its fiscal deficit to decline to 3 percent of gross domestic product by the 2030/31 financial year from about 6% currently, supported by a strategy to shift borrowing towards cheaper external financing.

The central bank said the country’s debt outlook remains at moderate risk despite rising debt servicing costs and limited capacity to absorb economic shocks.
Public debt increased 8 percent to $34.9 billion during the second half of last year, driven largely by domestic borrowing. Meanwhile, economic growth accelerated to 8.5 percent in the second quarter of the 2025/26 financial year, supported by oil investments, stronger exports and agricultural production.