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Gulf states turn to private deals in $10bn wartime borrowing spree
Gulf monarchies have discreetly raised almost $10bn in private sales of bonds this month in their first international borrowing since the Iran war delivered a major hit to their economies. Abu Dhabi has sold $4.5bn, Qatar $3bn and Kuwait $2bn in private placements of US dollar bonds since the start of April, sidestepping public markets where they typically issued debt before the war but where borrowing costs can be more uncertain. The sales highlight how Gulf states have been using a tentative ceasefire between the US and Iran as an opportunity to quickly raise money, as they tot up the costs of lost oil and gas revenues because of the near-complete closure of the Strait of Hormuz and damage from Iranian strikes. Abu Dhabi, the capital of the United Arab Emirates, is raising “a little bit of extra cash just in case,” one banker familiar with its debt sales said. The governments of Abu Dhabi, Qatar and Kuwait did not respond to requests for comment. Financial Times, April 16

Britain preparing for food shortages as Iran war bites
Britain could face shortages of chicken, pork and other supermarket goods this summer if the war in Iran continues, a secret government analysis has found. Officials have drawn up contingency plans for a “reasonable worst-case scenario” amid fears that the closure of the Strait of Hormuz will lead to shortages of carbon dioxide, which is critical to the food industry. Senior officials - including from No 10, the Treasury and Ministry of Defence - have secretly rehearsed scenarios looking at the potential impact on British industry in an event codenamed “Exercise Turnstone”. The Times has been told the reasonable worst-case scenario prepared for the session, run by the government’s emergency committee, Cobra, was set in June 2026 and assumed that the strait had not reopened and a permanent peace deal had not been reached. The Times, April 16

Nato in ‘turf war’ with EU over defence spending
The EU and Nato are at odds in what officials describe as a “turf war” over how to manage an extra $1tn a year rearmament drive prompted by Donald Trump’s threats to European security. The US-led military alliance, which has underpinned Europe’s security since the second world war, has long opposed Brussels taking on defence powers. But the US president’s demands on allies to invest more in their own militaries have forced an overhaul of arms production policy - an area where the EU has greater expertise than Nato. “There’s a turf war over defence industrial policy,” said one of the officials. “This is about who manages the production scale-up, and what impact that has on the weapons Europe will be using in the future.” One key aspect of the debate is what role US weaponry should play in the rearmament push, with Nato opposed to the EU’s “Buy European” approach across its wider industrial policy strategy. Financial Times, April 16

Turkey orders mass arrests over online praise for recent school shootings
Turkish police said on Thursday they had ordered dozens of arrests for people accused of posting controversial content on social media after two deadly school shootings this week. “Arrest orders were issued for 83 individuals found to have engaged in posts and activities praising crime and criminals and negatively affecting public order, and legal action has been taken against them,” the police said in a statement. In addition, access to 940 social media accounts has been blocked, and 93 Telegram groups have been shut down, it added. On Tuesday, a student opened fire at his former high school in the Siverek district in the southeast, wounding 16 people including students before killing himself. France 24, April 16

UK economy grew faster than expected ahead of Iran war
The UK economy saw its biggest monthly rise in February in more than two years, official figures show. The Office for National Statistics said the economy grew by a faster-than-expected 0.5 per cent, while it revised its estimate for January up to 0.1 per cent after previously saying the start of the year had seen no growth. The figures cover a period before the outbreak of the US-Israeli war with Iran on 28 February, which has caused a major energy shock and experts warn risks a global recession if it is prolonged. This week the International Monetary Fund cut its estimate for UK growth this year, warning it was set to be the hardest hit of the world's advanced economies. The IMF said it expected the UK to grow by 0.8 per cent this year, down from the 1.3 per cent prediction it had made in January before hostilities began. The Fund said the downgrade was due to the impact of the war, with fewer interest rate cuts now predicted and an expectation that the impact of higher energy prices will linger into next year. BBC news, April 16

Effect of ‘gamechanger’ Alzheimer’s drugs ‘trivial’, review concludes
Drugs that have been hailed as a gamechanger for the treatment of Alzheimer’s disease make no noticeable difference to patients, according to an extensive review. The analysis of clinical trials in people with mild cognitive impairment or mild dementia found that the effects of anti-amyloid drugs on cognition and dementia severity over 18 months were “trivial”, with improvements in functional ability “small at best”. The verdict is a blow to the new wave of drugs that are designed to slow Alzheimer’s by clearing clumps of amyloid protein that build up in the brain. Amyloid plaques are a hallmark of Alzheimer’s disease, along with another protein called tau which forms toxic tangles in neurons. The Cochrane review drew on gold standard methods to assess data from published clinical trials, but was criticised by some researchers and charities for combining results from older, failed drugs with those from newer, more effective medicines. The Guardian, April 16

Iran used Chinese spy satellite to target US bases
Iran secretly acquired a Chinese spy satellite that gave the Islamic republic a powerful new capability to target US military bases across the Middle East during the recent war, according to a Financial Times investigation. Leaked Iranian military documents show the satellite, known as TEE-01B, was acquired by the Islamic Revolutionary Guard Corps’ Aerospace Force in late 2024 after it was launched into space from China. Time-stamped coordinate lists, satellite imagery and orbital analysis show that Iranian military commanders later tasked the satellite to monitor key US military sites. The images were taken in March before and after drone and missile strikes on those locations. Financial Times, April 15

US hails 'historic opportunity' for peace after Lebanon, Israel talks in Washington
Israel and Lebanon agreed to direct negotiations following talks in Washington on Tuesday that US Secretary of State Marco Rubio hailed as a "historic opportunity" for peace. The two countries have technically been at war for decades, and Tuesday's talks have been vehemently opposed by the Lebanese militant group Hezbollah, which announced that it had fired rockets at more than a dozen northern Israeli towns just as the meeting was getting underway. The United States is pressing for a halt to the conflict between Israel and Hezbollah, fearing it could derail the two-week ceasefire in Washington's war with Iran after talks with Tehran in Pakistan failed to achieve a breakthrough. Lebanon was pulled into the broader conflict when Hezbollah attacked Israel in support of its backer Iran, sparking an Israeli ground invasion and strikes that have killed more than 2,000 people and displaced over a million. France 24, April 15

UK-US relationship in a poor state, says Trump
The “special relationship” was in a very poor state after the UK refused to help the US and Israel wage war on Iran, Donald Trump said. Asked about it during an interview with Sky News, the US president was highly critical and said that the UK was “not there” when the US needed help. He told Mark Stone that the relationship had been stronger in the past but was currently in a “sad” state. Trump said he had given the UK a “good trade deal” and threatened that the deal could “always be changed,” implying the strained relationship could bring adverse trade consequences for Britain. The Times, April 15

Ukraine's military to get biggest-ever shipment of UK drones
The UK is providing 120,000 drones to Ukraine in what the Ministry of Defence has said is the largest delivery of its kind. Drones have increasingly come to dominate both sides of the war in Ukraine, which entered its fifth year in February. UK Defence Secretary John Healey said "with eyes on the Middle East in recent weeks, [Russian President Vladimir] Putin wants us to be distracted", as he announced the "big boost" before co-chairing a meeting of the Ukraine Defence Contact Group in Berlin later on Wednesday. On Monday, Ukrainian President Volodymyr Zelensky said Ukraine had captured a Russian position using ground-based and aerial drones alone for the first time. The UK drones announcement follows Zelensky's suggestion that US peace negotiators "have no time for Ukraine" because of the war with Iran, AFP reports. The package will include long-range strike drones, reconnaissance drones, logistics drones and those with maritime capabilities, with many produced by UK-based companies. Delivery of the "cutting-edge battlefield technology" started this month, the MoD said. BBC news, April 15

UK migrant workforce grew strongly last year despite weaker hiring
The UK’s migrant workforce continued to grow strongly last year despite a broader slump in hiring, official data showed on Tuesday. Payrolled employment of non-EU nationals increased by 238,100 or 6 per cent in the year to December 2025, analysis by HM Revenue & Customs showed, even as employment of UK nationals decreased by 335,200 or 1 per cent and of EU nationals by 74,200 or 3 per cent. The increase is striking because it suggests employers have continued to hire both newly arrived migrants and those already living in Britain despite a weaker labour market overall and a government clampdown on new arrivals. Net migration to the UK fell to 204,000 in the year to July 2025, down from 649,000 in the previous year and in line with pre-Brexit norms, according to the latest official estimates. Home Office data on visa approvals suggests inflows have continued to decline. Financial Times, April 14

Lidl and Iceland ads are first banned under new UK junk food rules
Lidl and Iceland have become the first companies to have ads banned after the introduction of rules cracking down on the marketing of junk food in the UK. The Advertising Standards Authority has been policing the ban on ads featuring junk food on TV before 9pm, and in paid online advertising at any time of the day, since 5 January. On Wednesday the ASA said ads from the two supermarkets that appeared on Instagram and the Daily Mail website had broken the new rules, which prohibit items deemed high in fat, salt and sugarfrom being promoted as part of the government’s effort to tackle rising childhood obesity. The Guardian, April 15