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Chief-Exec News Bites

Hungary ousts Orban as Magyar's party wins supermajority in parliament
Hungarian voters on Sunday ousted long-serving Prime Minister Viktor Orban after 16 years in power, rejecting the authoritarian policies and global far-right movement that he embodied in favour of a pro-European challenger in a bombshell election result with global repercussions. It was a stunning blow for Orban - a close ally of both US President Donald Trump and Russian President Vladimir Putin - who quickly conceded defeat after what he called a "painful" election result. US Vice President JD Vance had made a visit to Hungary just days earlier, meant to help push Orban over the finish line. Election victor Peter Magyar, a former Orban loyalist who campaigned against corruption and on everyday issues like health care and public transport, has pledged to rebuild Hungary's relationships with the European Union and NATO - ties that frayed under Orban. European leaders quickly congratulated Magyar. His victory was expected to transform political dynamics within the EU, where Orban had upended the bloc by frequently vetoing key decisions, prompting concerns he sought to break it up from the inside. France 24, April 13

Trump announces naval blockade of Strait of Hormuz as Iran peace talks fail
Donald Trump said the US would launch a naval blockade of the Strait of Hormuz following the failure of negotiators to reach a deal with Iranian officials in marathon talks in Pakistan over the weekend. “Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz,” Trump wrote on Truth Social on Sunday morning. Trump also said he had asked the US Navy to “interdict” any ship that had paid a toll to Iran for passage through the strategic waterway for oil and gas shipments - meaning the vessels are at risk of being seized by the American military. “No one who pays an illegal toll will have safe passage on the high seas,” Trump wrote. The US Central Command said American forces will begin implementing a blockade of all maritime traffic entering and exiting Iranian ports from 10am eastern time on Monday. Financial Times, April 12

Britain will not join US blockade of Strait
The prime minister has ruled out joining the US blockade of the Strait of Hurmuz. Sir Keir Starmer insisted the UK would not be “dragged into the war” and reiterated that his priority was the reopening of the vital shipping lane. He said: “All the time the strait is shut or not free for navigation in the way it should be, that means that oil and gas is not getting to market. That means the price is going up. That means everybody listening to this is facing higher energy bills. And I don’t want that to happen.” The prime minister said he was “very concerned” about the impact of the war on the cost of living. “The increased costs are largely because of Iran’s actions in closing or partially closing the Strait of Hormuz,” he said. The Times, April 13

Britain could adopt single market rules without MPs’ vote as part of UK-EU reset
Ministers are planning to fundamentally reshape Britain’s relationship with the European Union, with new legislation that could result in the UK signing up to EU single market rules without a normal parliamentary vote. In a major development in the prime minister’s push for closer ties with the continent after the Iran war, the Guardian understands ministers are bracing to face down opposition to “dynamic alignment” with the EU from those who “scream treason” over the powers in a new EU-UK reset bill. After weeks of Donald Trump’s war with Iran that have exposed the fragility of the UK’s damaged special relationship with the US, ministers argue the move will add billions to the UK economy, help temper the cost of the conflict and boost sluggish productivity. A new bill, which will bring into force the food and drink trade deal with the EU, will contain powers enabling the government to dynamically align with Europe on areas where it has already made agreements. But it will also allow the UK to quickly implement evolving single market rules if it determines it is in the national interest, without having to face full parliamentary scrutiny each time. The Guardian, April 12

Donald Trump lashes out at Pope Leo on social media for criticism of Iran war
Donald Trump has accused Pope Leo of being “weak” on crime and “terrible” for foreign policy, in a scathing attack that underlines the rising tensions between the US president and the head of the Catholic Church. In a Truth Social post late on Sunday, Trump said Pope Leo, the first US-born pontiff, should stop “catering to the Radical Left and focus on being a Great Pope, not a Politician”. “I don’t want a Pope who thinks it’s OK for Iran to have a Nuclear Weapon,” Trump posted. “I don’t want a Pope who criticizes the President of the United States because I’m doing exactly what I was elected, IN A LANDSLIDE, to do.” Pope Leo has been outspoken in his criticism of the US-Israeli war against Iran, describing Trump’s threat last week to wipe out Iranian civilisation as “truly unacceptable”. At a worldwide peace vigil at St Peter’s Basilica in Vatican City on Saturday, the pope warned of a “delusion of omnipotence” that is “becoming increasingly unpredictable and aggressive”. Although he did not mention the war in Iran directly, his remarks were interpreted as some of his most critical of the US president. Financial Times, April 13

Tice £91,000 tax row is 'minor administrative error', party claims
A row over tax paid by Reform UK deputy leader Richard Tice's property company was "a minor administrative error", his party has claimed. The company, which Tice founded and owned, failed to pay £91,000 in tax before dividends were paid to him and his offshore trust, according to the Sunday Times. Tice has called the failure a "technicality" and said "overall HMRC received the correct amount of tax due". Labour has called the row "a major scandal which goes to the heart of Richard Tice's integrity and credibility". A HM Revenue and Customs spokesperson said: "We neither confirm nor deny investigations and we cannot comment on identifiable individuals." Tice's company, Quidnet REIT Limited, invests in property. The Sunday Times reported that it "did not pay a required 20 per cent levy on [its] dividends … before channelling profits to Tice and his trust registered in Jersey". Zia Yusuf, Reform UK's home affairs spokesperson conceded that this was "a minor administrative error" but told Sky News it was a "non-story". BBC news, April 12

Vance heads to Pakistan for Iran talks as Israeli assault on Lebanon tests truce
US Vice President JD Vance sets off on Friday for Pakistan to lead mediated talks with Iran in a bid to find a resolution to the war as massive Israeli strikes on Lebanon this week tested a fragile US-Iran ceasefire. Meanwhile Israeli Prime Minister Benjamin Netanyahu has authorised direct negotiations with Lebanon that are expected in Washington next week. The talks will be overseen by US Vice President JD Vance, envoy Steve Witkoff, and President Donald Trump's son-in-law Jared Kushner. France 24, April 10

US prepares to punish Nato states for Iran rift
Britain has been told by the Trump ­administration that it will be audited along with other Nato members to ­decide which should be punished for disappointing the president during the war in Iran, The Times understands. The UK is also facing pressure along with Nato allies to step up military support to secure the Strait of Hormuz, and there will be consequences for those countries that fail to assist. The growing pressure from Washington comes as Sir Keir Starmer voiced his strongest criticism yet of President Trump, saying he was “fed up” with the effect the US leader’s ­actions had on pushing up energy bills for households and businesses. The two men spoke by phone last night about “the need for a practical plan to get shipping moving again as quickly as possible” through the strait. Trump’s plans to punish and reward Nato members are under discussion but one option is to move US troops out of countries deemed to be less supportive, in both a military and economic blow to the host nation. The Times, April 9

North Sea oil prices hit record high as Iran keeps hold over Strait of Hormuz
A rush among European and Asian refineries to secure oil cargoes has pushed North Sea prices to a record high as Iran’s stranglehold on the Strait of Hormuz triggers fresh angst in the market. Forties Blend, a marker for oil for immediate delivery, hit almost $147 a barrel on Thursday, above the highs reached on the eve of the 2008 financial crisis as traders scrap for oil cargoes to replace huge volumes now trapped in the Gulf, according to LSEG data. The physical barrels from the North Sea were trading far above the roughly $97 price of Brent, the international benchmark, for delivery in June - another sign of fear of shortages in the oil market. The rush to secure cargoes was so intense it disrupted a vital pillar of the oil market. Traders said they were unable to buy Brent contracts for difference - which track the gap in prices between barrels for immediate delivery and for future delivery - for next week after the prices for the CFDs exceeded $30 a barrel, breaching the Intercontinental Exchange’s threshold. ICE is the main bourse for European oil trading. Financial Times, April 10

Google, Meta, Snap and Microsoft slam EU over child sexual abuse law lapse
The European parliament has blocked the extension of a law that permits big tech firms to scan for child sexual exploitation on their platforms, creating a legal gap that child safety experts say will lead to crimes going undetected. The law, which was a carve-out of the EU Privacy Act, was put in place in 2021 as a temporary measure allowing companies to use automated detection technologies to scan messages for harms, including child sexual abuse material (CSAM), grooming and sextortion. However, it expired on 3 April, and the EU parliament decided not to vote to extend it, amid privacy concerns from some lawmakers. The regulatory gap has created uncertainty for big tech companies, because while scanning for harms on their platforms is now illegal, they remain liable to remove any illegal content hosted on their platforms under a different law, the Digital Services Act. Google, Meta, Snap and Microsoft said they would continue to voluntarily scan their platforms for CSAM, in a joint statement posted on a Google blog … The European parliament said in a statement that it was prioritizing its work on legislation to prevent and combat child sexual abuse online, and that negotiations on a permanent legal framework were ongoing, though the body offered no timeline for agreements or implementation. The Guardian, April 10

EU fingerprint and photo travel rules come into force
The EU's new digital border system which requires fingerprints and photos alongside a passport scan is set to be fully operational from Friday. This was the deadline for the Entry/Exit System or EES, to be active at every Schengen border crossing point in all 29 participating countries. The system began being gradually introduced from October to strengthen security and ultimately make travel smoother, though due to some hiccups, not every point will be fully rolling it out. There have been long queues at some European airports and warnings that delays could be worse during busy holiday periods. EES is a digital system designed to keep track of when non-EU citizens - including those from the UK - enter and leave the Schengen Area. This covers 29 European countries - mainly in the EU - which people can travel across without border controls. BBC news, April 10

Adidas set to lose Champions League ball contract to Nike after 25 years
Nike is set to win the race to make and sponsor the match ball for the Uefa Champions League, ending the 25-year reign of Adidas as supplier to Europe’s elite club football competition. The US group has entered exclusive talks to provide balls for all Uefa men’s club competitions from 2027 to 2031 including the second and third-tier Europa League and Conference League, the body responsible for generating revenues from Uefa tournaments said on Thursday. The value of the deal across the competitions is expected to rise substantially - one person with knowledge of the process said it could roughly double to more than €40mn a year. Nike’s deal marks a blow for Adidas, which has held the rights to provide the Champions League match ball since 2001, with its “starball” design now synonymous with the tournament. Financial Times, April 9

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