Ata mārie and welcome to your Tuesday summary of international business and political news.
First up, Iran is considering attending peace talks with the United States in Pakistan, according to Reuters, but other media outlets report the second round of talks were on thin ice. Al Jazeera noted that Iran had no plans to send negotiators after the US seized an Iranian-flagged cargo ship in the Strait of Hormuz.
US President Donald Trump said the ceasefire with Iran ends this week and it was “highly unlikely” he would extend it if a deal fell through. Meanwhile, a second round of talks between Israel and Lebanon is scheduled for Thursday local time, CNN reported.
Overnight, Trump wrote on Truth Social to accuse the Democrats of attempting to “hurt the very strong position we are in with respect to Iran”. He claimed the war plans were being “perfectly executed”.
He also hit back at criticism that the Middle East war had lasted longer than what was promised in the initial days of the conflict, the ABC reported.
"[Democrats] like to say that I promised six weeks to defeat Iran, and actually, from the military standpoint, it was far faster than that, but I’m not going to let them rush the United States into making a deal that is not as good as it could have been," he said.
"If a deal happens under 'TRUMP', it will guarantee Peace, Security, and Safety, not only for Israel and the Middle East, but for Europe, America, and everywhere else.”
Chinese President Xi Jinping.
Meanwhile, Chinese President Xi Jinping said normal passage through the Strait of Hormuz should be maintained. Xi made the remarks during a phone conversation with Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud.
As it stands, China is the world’s largest importer of oil through the Strait of Hormuz, but its booming electric car sector meant drivers were more insulated from the crisis, the Guardian said.
Earlier, global oil prices climbed again as tensions rose over the Strait of Hormuz. Brent crude rose about 5% to US$94.20 per barrel, reversing a fall from Friday when Iran said the waterway would be "completely open" to commercial vessels for the remainder of the ceasefire, the BBC said.
On Saturday, Iran said it was closing the strait again and that any ship that approached it would be targeted.
Meanwhile, Federal Reserve chair nominee Kevin Warsh said the central bank must be largely independent of political influence and stay focused on its primary mandates, CNBC reported.
In an address to the Senate Banking Committee, Warsh expressed firm commitment to fighting inflation, with limited mention of the labour market.
“The Fed must stay in its lane. Fed independence is placed at greatest risk when it strays into fiscal and social policies where it has neither authority nor expertise,” he said.
Trump announced in January that Warsh would be his pick to succeed current chair Jerome Powell. His term officially ends in mid-May.
Outgoing Federal Reserve chair Jerome Powell.
Germany has summoned the Russian ambassador to condemn “direct threats” against “targets in Germany”. The threats, which were not detailed, were aimed at undermining Germany’s support for Ukraine in the war with Russia, Al Jazeera reported.
Germany’s Federal Foreign Office said the country would not be intimidated. “Such threats and all forms of espionage in Germany are completely unacceptable,” it said.
In the UK, consumer confidence has fallen to a 33-month low as fears grow about inflation and the labour market. Data provider S&P Global said its Consumer Sentiment Index survey dropped to 42.3 in April, from 44.1 in March, the Guardian reported.
Economist Maryam Baluch said the strain on household finances and an uncertain central bank policy outlook were showing up in consumer behaviour.
In developing news, tech giant Apple has announced Tim Cook will become executive chair of the board and will be replaced as chief executive by John Ternus, effective from September.
“It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company,” Cook said.
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honour. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future.”
Ternus said he was optimistic about the role. “I am so happy to know that the most talented people on earth are here at Apple, determined to be part of something bigger than any one of us. I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century.”
Finally, billionaire businessman Elon Musk avoided a voluntary interview in Paris, where French authorities are probing his social media platform X.
The company's offices were raided in February over suspected criminal offences related to content on the platform, the BBC reported.
Musk was given the date of April 20 for an interview as part of an investigation. The Paris prosecutor's office told the BBC it had "taken note of the absence of the people summoned” but that the investigation was still ongoing.
