Chief-Exec.com

Iran targets American base in region after US strikes Iranian air defences
The US said it struck Iranian military sites at the weekend and Iran’s Revolutionary Guard said on Monday it had targeted a US base in response, the latest in a series of exchanges amid negotiations to end the three-month-old war. The strikes on Iran’s Gulf coast were in response to “aggressive Iranian actions that included the shootdown of a US MQ-1 drone that was operating over international waters”, the US military’s central command (Centcom) said on X. “US fighter aircraft swiftly responded by eliminating Iranian air defences, a ground control station and two one-way attack drones that posed clear threats to ships transiting regional waters,” Centcom said, adding it would continue to protect US assets and interests during the ongoing ceasefire. Iran’s Islamic Revolutionary Guard Corps said on Monday it had targeted an air base used by the US for an attack on southern Iran, without identifying which base. Air defences in Kuwait, where a major US base is located, were intercepting missile and drone attacks on Monday as sirens sounded across the country, the state news agency Kuna reported, without providing further details. The Guardian, June 1

France and allies intercept sanctioned Russian oil tanker in Atlantic
The French Navy on Sunday boarded an oil tanker, ​named the Tagor, which was subject to international sanctions and sailing from Russia, French President Emmanuel Macron wrote on X. "This operation took place in ​the Atlantic ‌Ocean, on the high seas, with the ⁠support of several partners, including the United Kingdom, in strict compliance with the law of ‌the sea," he said. "It is unacceptable for ships to circumvent ⁠international sanctions, violate the law of the sea, and finance the war that Russia has been waging against Ukraine ​for more than four years," he added. The Maritime Prefecture ‌of the Atlantic said in a separate statement on Monday that the French Navy had intervened on an oil tanker more than 400 ‌nautical miles (740 km) west of the tip of Brittany, coming from Murmansk, Russia. France 24, June 1

Israel takes strategic Beaufort Castle as it expands Lebanon push
For nine centuries Beaufort Castle has commanded sweeping views over southern Lebanon and has been used as a strategic citadel by Crusader, Arab, Ottoman, Palestinian and Israeli forces. On Sunday it was captured once more by Israeli troops as they expanded their ground offensive against Hezbollah, and 26 years after they last withdrew from the castle. Binyamin Netanyahu declared that the capture of Beaufort marked a “dramatic step and a dramatic change” in his country’s military campaign in Lebanon, which has continued despite public declarations of a ceasefire. “We have returned united, determined and stronger than ever,” the Israeli prime minister said. The Israeli military already controlled territory up to the Litani River in Lebanon, but troops are pushing to the Zahrani River, about 10km to the north, warning any residents to leave the area or otherwise risk being killed. The Times, June 1

EU looks more attractive in Donald Trump’s ‘crazy world’, says Norway
The “crazy world” shaped by US President Donald Trump and China is prompting Norway to reassess its relationship with the EU after two failed attempts to join the bloc. The continent’s leading oil and gas producer is part of the EU’s single market but it remains outside the bloc after voting “No” to accession in the 1970s and the 1990s. Norwegians opposed membership because of a perception that their fishing industry would be at a disadvantage if ruled by Brussels. Seafood is Norway’s largest export sector after fossil fuels. “We said no in 1972 because of fish and again in 1994, it was very much about fish. Fish and agriculture,” foreign minister Espen Barth Eide told the FT. Those issues became so divisive that they “broke up marriages and families”, leaving Norwegians with “PTSD”, he said. EU diplomats believe the US president has provided the necessary shock for Norway to wake up to the benefits of membership - ranging from trade to security and defence. Eide acknowledged that the “benign world”, which existed when the two accession referendums were held, had been replaced by a “crazy world” forcing Oslo to review its relations with the bloc. Financial Times, June 1

Nvidia unveils PC ‘superchip’ in challenge to Apple and Intel
Nvidia will launch a PC “superchip” this year as the semiconductor giant goes head-to-head with Apple, Qualcomm, Intel and AMD for the first time. Computer makers including Dell, Asus and HP will use what Nvidia claims is “the most efficient PC chip ever built”, paired with Microsoft’s Windows software, Nvidia chief executive Jensen Huang announced on Monday. The launch marks a major competitive shift in the consumer PC industry and a new business line for $5.1tn Nvidia. The company, best known for its dominance of semiconductors for AI infrastructure, is pushing beyond its traditional graphics cards into integrated chips that power the whole PC. Lenovo, Microsoft, Acer and Taiwan’s MSI will also use the product. Huang was in Taipei on Monday to deliver a keynote speech at the Computex conference to announce the company’s latest moves in AI. Financial Times, June 1

Put a £5 deposit on vapes to stop fires, say waste companies
Waste companies have called for a deposit of up to £5 to be charged on vapes to encourage people to dispose of them properly. Disposable vapes were banned a year ago, partly because of the fires they can cause in bin lorries and waste facilities when thrown away with general rubbish. But the industry body for waste companies says vape recycling has not improved enough, so a small, refundable deposit at the point of purchase is a "simple, fair, efficient and cost-neutral solution". Some vape companies oppose the idea of a deposit scheme, saying it would encourage people to buy from illicit retailers who don't charge it. Under the Environmental Services Association's proposal, a deposit would be charged on vapes when purchased, and returned to customers when they dispose of the vape properly. Vapes can already be returned to stores where they are purchased - which are meant to have facilities to take them back - or returned to recycling facilities. They should not be put in normal bins, general recycling, or littered in the environment. If they're crushed in bin lorries or waste treatment plants, vapes can short circuit and start a fire because of the huge amount of energy contained in their lithium batteries. BBC news, June 1

Russia overspends on Putin’s war in Ukraine by $28bn
Russia’s spending on Vladimir Putin’s war in Ukraine is on track to blow through its budget by at least Rbs2tn ($28bn) this year, according to a letter seen by the FT, piling pressure on the Kremlin’s finances as it faces a widening deficit. The finance ministry estimated in February that the Rbs2tn overspend on the conflict could rise to as much as Rbs4tn this year in a “negative scenario”, according to the letter from finance minister Anton Siluanov. It added that it also expects a Rbs4tn overspend on the war in 2027 and 2028. The letter asked the cabinet to freeze Rbs2.9tn of planned spending outside of the conflict for this year, Rbs5.4tn for 2027, and Rbs7.1tn for 2028, to cover the mounting cost of the war. The request highlights Russia’s struggles to finance the war despite allocating Rbs16.84tn ($238bn), or almost 40 per cent of this year’s budget, to defence and security. Financial Times, May 29

Nato ‘ready to defend territory’ after Russian drone hits Romania
Nato is ready to defend every inch of its territory, Mark Rutte, the military alliance’s chief, said after a Russian drone hit an apartment building in member state Romania. “Russia’s reckless behaviour is a danger to us all,” Rutte said in a post on X. “Last night showed yet again that the implications of their illegal war of aggression don’t stop at the border.” … The incident prompted an angry reaction from European leaders, demanding Russia face consequences. Moscow has “crossed yet another line”, Ursula von der Leyen, the president of the EU Commission, said. “We stand in full solidarity with Romania and its people.” The EU’s foreign policy chief, Kaja Kallas, said: “Moscow cannot be allowed to breach European airspace with impunity,” adding that the incident was “a blatant and serious violation of Romania’s sovereignty and European airspace.” The Times, May 29

Russian drone launched against Ukraine hits apartment building in Romania
A Russian drone that was part of an overnight attack on Ukraine crashed into an apartment building in eastern Romania, injuring two people, Romanian authorities said on Friday. In response to the crash, Nato member Romania asked the alliance for a faster transfer of anti-drone capabilities, the Foreign Ministry said, calling the drone's flight a serious violation of international law. Ukrainian forces shot down 217 drones overnight on Friday, according to the country’s air force. In total, Russia attacked with 232 drones and one ballistic missile. Hits were recorded in 14 areas, the air force said. The drone was tracked by radar in Romanian airspace and crashed onto the roof of a building in Galati, Romania's Defence Ministry said in a statement. The impact was followed by a fire. Two people suffered minor injuries, and several others were evacuated. France 24, May 29

Netanyahu orders Israeli army to seize ‘70% of Gaza Strip’, violating ceasefire deal
Benjamin Netanyahu has said he has given orders to the Israeli army to seize control of 70 per cent of the Gaza Strip in a move that threatens to torpedo an already fragile ceasefire and create catastrophic humanitarian conditions in the already devastated territory. Under the US-brokered ceasefire in October, the Israeli army withdrew to a demarcation line which gave Israel direct control of 53 per cent of the occupied territory. Since then, Israeli forces have steadily advanced their positions westward into the Hamas-controlled half of the strip, and declared an ever-expanded no man’s land west of that, within which they claim the right to decide who can enter and open fire on anyone perceived as a threat. In recent days, Israeli-backed armed militias have taken a leading role in emptying the territory along the ceasefire line, telling residents to vacate their homes or shelters. Throughout the eight months of the ceasefire, Israeli forces have continued to open fire on Palestinians within range of the “yellow line” splitting the strip, and carry out airstrikes deeper inside western Gaza, killing more than 900 Palestinians since the truce began. The Guardian, May 29

UK and European passports linked to restricted Chinese investors
A maker of electronic parts used in UK and other European biometric passports is owned by an investor group led by two Chinese companies that are on a US list of foreign entities to which exports are restricted. French company Linxens produces inlays, which allow e-passports and the personal data they hold to be read electronically. The holding company that owns it was created by a group led by Wise Road Capital and JAC Capital, two Beijing-based private equity firms. Wise Road and JAC Capital were added to the US government’s trade-restricted “entity list” in 2024, due to national security concerns over their “involvement in aiding China’s government’s efforts to acquire entities with sensitive semiconductor manufacturing capability critical to the defense industrial bases of the United States and its allies”. The UK government in 2024 invoked the National Security and Investment Act to force another consortium led by JAC Capital to sell its share in a British chipmaker, Future Technology Devices International. Liam Byrne, Labour chair of the House of Commons business and trade committee, said he was concerned that Linxens’ links to the export-restricted entities “risks the integrity of critical national infrastructure”. He said the FT’s findings on Linxens would be incorporated into an investigation his committee was running into China and the UK economy. Financial Times, May 29

EU fines Temu €200m for allowing sale of illegal products
The European Union has imposed a €200m ($232m; £173m) fine on Chinese-owned online retailer Temu for having illegal products such as dangerous baby toys and faulty chargers for sale on its platform. The European Commission said the company had "failed to diligently identify, analyse and assess the systemic risks" of the products and the harm they could cause to consumers. Temu has been under investigation since October 2024 over whether it has been meeting its obligations as a designated Very Large Online Platform under EU law. The online retailer said it disagreed with the decision and deemed the fine disproportionate, and was now considering available options. The investigation involved a mystery shopping exercise carried out by an independent testing organisation, which found that a high percentage of chargers purchased through Temu failed basic electrical safety tests. It also found that a high proportion of baby toys posed safety risks, containing chemicals above legal limits or featuring small detachable parts that presented suffocation hazards, Euronews reported. As well as paying the fine, Temu has to present an action plan to address the failures by 28 August. The Commission then has two months to decide whether the company has done enough to comply. BBC news, May 28