Mōrena this Thursday. Here's a wrap of the latest business and political news from around the world you need to know today.
First up, oil prices have fallen after US Secretary of State Marco Rubio said the US would give talks with Iran "every chance to succeed". Speaking at the White House, Rubio said talks had made some progress and that president Donald Trump preferred diplomacy to other options, CNBC reported.
“The bottom line is that we prefer the negotiated diplomatic route and we’re going to give it every chance to succeed,” Rubio said.
Reuters reported that Iranian state television had earlier said Tehran had committed to restore commercial traffic through the State of Hormuz to prewar levels within a month of an agreement with the US. The White House described the Iranian report as a "complete fabrication".
Brent was down nearly 4% to US$95.68 a barrel, while West Texas Intermediate fell more than 4% to $89.93.
The Dow Jones ticked higher to a new record, while the S&P 500 and Nasdaq were both slightly up as well. Chipmaker Micron, which earlier this week joined the US$1 trillion market cap club, was up a further 2%, while its South Korean rival SK Hynix also hit a US$1tr valuation overnight.
However, European Central Bank vice president Luis De Guindos told CNBC overnight there was an "elevated" risk of a market correction as stock markets continued to notch fresh highs.
“There is a risk of a correction because valuations in markets are quite high, quite elevated and ... the main element of concern, from our standpoint, is geopolitical risk,” the senior European central banker told CNBC. “On top of that, we have the fiscal situation in Europe, we have the situation of non-banks, mainly private credit and private equity institutions, and the interconnection of these non-banks with the banking system. So it’s a combination of elements.”
Also in markets, former BP chairman Albert Manifold, who lost his job this week due to "serious concerns" relating to governance standards, oversight and conduct, has hit back at his shock departure by saying he had been removed "without warning and without explanation".
He disputed "entirely" the characterisation of his conduct, CNBC reported. Manifold's alleged conduct reportedly involved acting aggressively with different colleagues. He had been in the role about seven months.
Lululemon founder Chip Wilson, meanwhile, has landed an agreement with the athletic apparel company which will see two of his nominees appointed to the company's board, with a third to follow by October.
Wilson, who has been critical of the company since he stepped down as chair in 2013, had ramped up his attacks on the company late last year over the retailer's performance, which saw Lululemon write to shareholders that Wilson had "outdated perspectives" and "troubling conflicts of interest".
Lululemon shares were up 3% on the deal, which also includes an agreement Wilson does not criticise the company for about 18 months. Its US$131 stock price has fallen nearly 60% over the last five years.
Elsewhere, Israel launched more than 120 airstrikes against Lebanon in one of the heaviest days of bombing in weeks, the Guardian reported, with Israeli Prime Minister Benjamin Netanyahu saying the military was escalating its offensive against Hezbollah.
A ceasefire between Israel and Hezbollah, brokered by the US last month, now appears close to total collapse. Israel's military said it had targeted 100 sites linked to Hezbollah in southern Lebanon, whose national news agency claimed at least 22 people, including women and children, had been killed in the strikes.
The BBC reports an Israeli strike in Gaza, meanwhile, has killed the new commander of Hamas' military wing, Mohammed Odeh. That comes days after his predecessor died in a similar attack.
The World Health Organisation has warned that ongoing conflict in the Democratic Republic of Congo is hampering the response to the Ebola outbreak.
In a statement to X, WHO head Tedros Adhanom Ghebreyesus said WHO "cannot build community trust or isolate the sick while bombs are falling". He is due to arrive in the country this week, with 220 suspected deaths since the outbreak was declared. Ituri, where most of the cases have been reported, has been under military rule since 2021.
Finally today, Germany's most-wanted woman, Daniela Klette, has been sentenced to 13 years in jail for armed robberies committed between 1999 and 2016.
The 67-year-old was a former member of the far-left terrorist network Red Army Faction, also known as Baader-Meinhof, and had been arrested in February 2024, after three decades evading police.
She was found guilty of six counts of aggravated robbery, kidnapping for ransom and possession of military weapons, with Klette said to be part of a trio who stole more than €2 million to help bankroll former RAF members' lives underground.
