Iran activates air defenses, Trump weighs options

Reuters Daily Briefing <dailybriefing@thomsonreuters.com>
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2026-05-01 12:58

Daily Briefing

By Linda Noakes

Hello. Trump faces a deadline today to end the Iran war or make the case to Congress for extending it.

The yen jumps sharply as Japan warns it is ready to intervene in currency markets again.

And at a trial in California, Elon Musk testifies he did not read the 'fine print' about OpenAI becoming a for-profit company.

Today's Top News

A man holds a flag during a rally in Tehran. Majid Asgaripour/WANA via REUTERS

Iran war

A senior United Arab Emirates official said Tehran could not be trusted over any unilateral arrangements it makes for the Strait of Hormuz, in a sign of deep mistrust on all sides as efforts to end the Iran war remain at an impasse.
The White House is saying the US is no longer at war with Iran under the War Powers Resolution. White House correspondent Bo Erickson told the Reuters World News podcast that the administration appears to be trying to stop the clock on congressional oversight.
Weeks of conflict have aggravated Iran's dire economic problems, risking calamity after the war, but the Islamic Republic looks able to survive a standoff in the Gulf for now.

In other news

President Donald Trump will venture outside the White House for the first time since a foiled assassination attempt, traveling to a Florida stronghold under mounting political pressure and intense scrutiny of his security.
Trump signed into law legislation funding Department of Homeland Security agencies including the Secret Service and Transportation Security Administration, ending a partial shutdown that has gripped DHS operations for nearly 11 weeks.
A federal judge ruled that policies that make it harder for people from countries on Trump's travel ban list to get green cards and work permits are discriminatory and unlawful.
United Nations Secretary-General Antonio Guterres said the payment of the billions of dollars the United States owes to the world body is "non-negotiable," after reports that Washington had placed conditions on releasing the funds.
Hundreds of protesters clashed with Australian emergency services workers in a remote town following the arrest of a man suspected of murdering a 5-year-old Indigenous girl. An angry crowd gathered at the hospital where the suspect was taken after being beaten unconscious by locals.
British police charged a 45-year-old man with two counts of attempted murder following an attack during which two Jewish men were stabbed in Golders Green, north London, in what officers have called a suspected terrorist incident.

Business & Markets

An employee of a foreign exchange trading company at a dealing room in Tokyo. REUTERS/Kim Kyung-Hoon

Global shares steadied, with attention firmly on currency markets after the yen suddenly jumped against the dollar in early European trading, a day after Tokyo authorities were widely believed to have intervened to prop up the Japanese currency.
US economic growth regained speed in the first quarter as businesses boosted investment in artificial intelligence and government spending rebounded after a crippling shutdown, but the pickup is likely temporary.
Apple touted blowout demand for its flagship iPhone 17 and the MacBook Neo that helped power a solid sales forecast and sent its shares up nearly 4%.
Meta Chief Executive Mark Zuckerberg attributed the Facebook parent's planned layoffs to increased capital spending for AI, and declined to rule out further ‌job cuts, in comments to employees at a company town hall.
Reddit forecast second-quarter revenue above analysts' estimates, betting on its AI-powered tools to boost advertising on the platform, sending its shares up 11%.
Elon Musk testified during tense cross-examination that he knew about early discussions around turning OpenAI into a for-profit company but was reassured by co-founder Sam Altman it would remain a nonprofit.

The Week Ahead

Berkshire Hathaway shareholders making the pilgrimage to Omaha for the conglomerate's annual shareholder weekend will find Warren Buffett there as usual. But it's now Greg Abel's show.
As the ⁠US economy grapples with fallout from the Middle East war, Wall Street's radar turns to next Friday's April monthly payrolls report.
Local elections in Britain, usually a non-event for investors, could move markets in a big way, with opinion polls pointing to a heavy defeat for Prime Minister Keir Starmer's Labour Party.
It's a big week for European earnings. Energy majors Shell and Equinor, banking groups Commerzbank and HSBC, and defence firms Rheinmetall, Leonardo and Renk all report.
Here's what you need to know about the week ahead in financial markets.

Mali attacks spotlight the growing reach of militants across West Africa

A map of Mali showing the location of violence involving militant groups

Simultaneous attacks in Mali by militants linked to al Qaeda and separatist Tuareg rebels launched on April 25 showed how fighters from different groups with different goals were able to strike at the heart of the West African country’s military government.

Despite a series of interventions since 2013 by French, US, UN and Russian troops, these militant groups have also made significant gains elsewhere in the region.

Read more

And Finally...

A statue by British street artist Banksy in London. REUTERS/Jack Taylor

Banksy confirmed he was behind a large statue depicting a man carrying a flag that has blown into ‌his face on a plinth near the Mall in the ceremonial heart of London.

Commentators on Banksy's Instagram site speculated the work ⁠was about "blind patriotism", and questioned how he had managed to pull off such a stunt in the epicenter of the ⁠British establishment.

Reuters revealed details about Banksy's modus operandi and his real identity in a special report last month.

Read more

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