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US proposes 15-point plan as Iran opens Strait of Hormuz to 'non-hostile' oil vessels
US President Donald Trump sent a peace plan to Iran as he voiced optimism on Tuesday at ending nearly a month of a war, with Tehran announcing that it will let "non-hostile" oil vessels go through the crucial Strait of Hormuz. The tentative signs of a diplomatic solution came despite new violence, with an Iranian missile causing injuries in Israel which in turn pressed on multiple fronts and vowed to seize control of a strip of southern Lebanon. Trump, whose pronouncements in recent days have swung wildly from vowing massive attacks on Iran to declaring the nearly month-long war virtually over, said the United States was "in negotiations right now" with Iran - which has not confirmed any formal talks … Iran had already in recent days said it was not targeting friendly nations, although many vessels have shied away as insurance companies refuse to take risks. France 24, March 25

US to deploy more troops even as Donald Trump praises Iran peace talks
The US is planning to send thousands more troops to the Middle East that could be used in land operations in Iran even as President Donald Trump claimed peace talks with Tehran were making progress. The Pentagon is set to deploy elements of the Army’s 82nd Airborne Division to the Middle East, according to two people familiar with the matter. About 3,000 soldiers from the elite paratrooper division would be deployed, one of the people said, while another person familiar cautioned that it could ultimately be fewer. The troops will join the thousands of Marines who are aboard warships en route to the region. Speaking at the White House on Tuesday, Trump said the US was in contact with the “right people” in Iran, emphasising that vice-president JD Vance and secretary of state Marco Rubio were involved in the talks. Iran has denied it is participating in any talks with the US but confirmed that mediation efforts by other nations were under way. Financial Times, March 25

Warning of global recession if oil price hits $150
If the price of oil hits $150 a barrel it will trigger a global recession, the boss of US financial giant BlackRock has told the BBC. Larry Fink, who leads the world's largest asset manager, said if Iran "remains a threat" and oil prices stay high it will have "profound implications" for the world economy. In a wide-ranging exclusive interview, he also denied there was an AI bubble, although he said the new technology meant too many people were pursuing university degrees and not enough doing technical training. BlackRock is a financial colossus, controlling assets worth $14 trillion (£10.5tn), and is one of the biggest investors in many of the world's largest companies. Its size and spread gives Fink - who is one of the eight co-founders of the business, which started in 1988 - a unique insight into the health of the global economy. The conflict in the Middle East has triggered wild moves on financial markets as people try to assess what will happen to energy costs. BBC news, March 25

Cyprus demands new security deal over British base
Cyprus has demanded new and improved British security guarantees after the Iranian drone attack on UK military bases on the strategic island. Nikos Christodoulides, the president, demanded negotiations in a “long” phone call with Sir Keir Starmer on Saturday. Nicosia wants a renegotiation of security arrangements, set out in the 1960 treaty that established the sovereign bases RAF Akitori and Dhekelia, once the war in Iran ends, The Telegraph has learnt. The Telegraph understands that Cypriot demands will not include asking Britain to give up the bases, which are the Crown’s territory and both cover 99 square miles. However, Cyprus could ask for more information and consultation about potential missions, deployments and security risks, as is usual with non-sovereign military bases on foreign soil. It follows a low-tech drone attack that caught British defences by surprise and led to the scrambling of warships from around Europe, triggering a debate about the wholesale defence of the island. The Telegraph, March 24

China reviews $2bn Manus sale to Meta as founders barred from leaving country
China has restricted two co-founders of Manus from leaving the country as regulators review whether Meta’s $2bn acquisition of the AI agent company violates Beijing’s investment rules. Manus’s chief executive Xiao Hong and chief scientist Ji Yichao were summoned to a meeting in Beijing with the National Development and Reform Commission this month, according to three people with knowledge of the matter. They said Xiao and Ji were questioned on potential violations of foreign direct investment rules related to its onshore Chinese entities. After the meeting, the Singapore-based executives were told they were not allowed to leave China because of a regulatory review, while they remain free to travel within the country, two of the people said. No formal investigation has been opened and no charges have been brought. Manus is actively seeking law firms and consultancies to help resolve the matter, said a person with knowledge of the move. Manus was founded in China but last year relocated its headquarters and core team to Singapore. Meta acquired it for $2bn at the end of last year. The deal is under regulatory review by China’s Ministry of Commerce for its potential violation of export controls, the FT reported in January. Financial Times, March 25

Meta fined $375m by New Mexico court over child safety breaches
Meta has been ordered to pay $375 million in civil penalties after a jury in New Mexico found that it knowingly harmed children’s mental health. The Silicon Valley giant was accused of misleading users about the safety of its apps -Facebook, Instagram and WhatsApp - and enabling child sexual exploitation. Meta had denied violating New Mexico’s consumer protection law and has already said it will appeal. After a seven-week trial, the jury delivered a landmark decision that may offer a preview of similar cases across the country. Tech companies have faced thousands of lawsuits accusing them of prioritising profit over children’s wellbeing. A jury is deliberating in Los Angeles after a trial in which Mark Zuckerberg, the founder of Meta, denied that his platforms were designed to be addictive for children. The Times, March 25

Netanyahu says Trump pursuing Iran deal that protects Israel’s interests
Benjamin Netanyahu said Donald Trump was pursuing talks with Iran in an effort to “leverage the great achievements” secured by their militaries into a deal that achieves all the goals of the war and “protects [Israel’s] vital interests”. The Israeli prime minister said he had spoken with Trump earlier on Monday and that the president “believes that there is a chance” to secure such an agreement with the Islamic republic. “At the same time, we continue to attack both Iran and Lebanon, and we are striking [Iran’s] missile programme and nuclear programme,” Netanyahu said in a recorded statement. “We will safeguard our vital interests in any situation,” he said. Financial Times, March 24

Bahrain proposes UN resolution for protection of ships in Strait of Hormuz
Bahrain has put forward a draft UN Security Council resolution that would authorise countries to use “all necessary means” to protect commercial shipping ‌in and around the Strait of Hormuz, according to a text seen by Reuters. Diplomats said other Gulf Arab states and the United States backed the proposal, but added that it was unlikely to get through the council, where Russia and China have veto power. The Bahraini text would authorise ‌countries, acting alone or through ‌voluntary multinational naval coalitions, to protect vessels passing through the Gulf. The Telegraph, March 24

EU 'greatly concerned' by reports Hungary leaked negotiation details to Russia
The European Union executive said on Monday reports that the Hungarian foreign minister had passed sensitive information about European Union negotiations to Russia were "greatly concerning". On Saturday, the Washington Post newspaper quoted serving or former European security officials as saying Peter Szijjarto regularly called his Russian counterpart, Sergei Lavrov, during breaks in EU meetings to give "direct reports on what was discussed" and suggest possible courses of action. Szijjarto has described the report as "fake news" and "senseless conspiracy theories". But Hungary's minister for European affairs, Janos Boka, said "it is perfectly normal for the Hungarian foreign minister to speak by telephone with his Russian counterpart". "What is less understandable is that his EU counterparts don't do the same," Boka said on his Facebook page. France 24, March 23

UK: police investigating possible Iran link to attack on Jewish charity ambulances
A group with possible links to the Iranian state is being investigated in relation to an arson attack on Jewish charity-owned ambulances, the head of the Metropolitan Police has said. Four Hatzola ambulances were set ablaze in Golders Green, London, in the early hours of Monday, leading to several explosions caused by gas canisters onboard the vehicles. Speaking at an event on Monday evening, Sir Mark Rowley said the "rapid growth" of Iranian state threats in recent years was grave but that it was still "too early" to attribute the attack to Tehran. Police believe three suspects were involved in the attack, which is being treated as an antisemitic hate crime, not a terror incident. Sir Mark said police were "pursuing all lines of enquiry", including "an online claim of responsibility by an Islamist group who have claimed other attacks across Europe and have potential Iranian state links". Speaking at an annual dinner of the Community Security Trust, a charity that monitors antisemitism in the UK, the Met Police chief said the Jewish community had in recent years been "increasingly targeted by individuals, groups and hostile states". BBC news, March 24

EU and Australia clinch trade and security pacts
The EU and Australia have signed long-awaited trade and security deals as they seek mutual support to cope with pressure from China and the US. The trade agreement will boost the EU’s access to Australia’s critical minerals, while the defence and security pact will enable Australian companies to participate in the bloc’s €150bn rearmament programme. Both the EU and Australia have been hit with tariffs by US President Donald Trump, and fear their longstanding ally is reducing its commitment to defend them militarily. European Commission president Ursula von der Leyen travelled to Australia to seal the trade deal with Prime Minister Anthony Albanese after eight years of negotiations. “What I have seen, with growing unpredictability and uncertainty worldwide, is that countries are longing for stability and predictability. And this is what the [EU] is offering,” she said at a press conference in Canberra. Financial Times, March 24

Britain ‘urgently’ needs to produce more oil and gas from North Sea
The UK “urgently” needs to produce more domestic oil and gas from the North Sea to safeguard Britain’s energy security, the industry body has argued. Offshore Energies UK believes that output could be ramped up within months, with fresh drilling in existing fields capable of increasing domestic supply without the longer lead times associated with new developments. Enrique Cornejo, the group’s energy policy director, said some developments, such as infill drilling to lift output in existing areas, could potentially come into operation within months under a supportive fiscal and regulatory regime. “Really, we’re not talking about decades, precisely because significant parts of those projects already have infrastructure in place,” he said. “What we need is investment to unlock that production.” The body’s annual report on the UK’s offshore energy system said that Britain will continue to need significant volumes of oil and gas for decades to come, even with use of renewables. The Times, March 24