Sanitation

Daily Briefing

By Kate Turton

Hello. The US and Iran may resume war talks despite port blockade, Trump's voting restrictions bill may fail but parts live on, and China's export engine stutters as Iran war chills global demand.

Plus, in India, $1 housekeepers spark a frenzy.

Today's Top News

Fishermen sail their boat as smoke from an Israeli airstrike rises in Abbassiye area in Tyre, Lebanon, April 14, 2026. REUTERS/Louisa Gouliamaki

War in the Middle East

The US military began a blockade of Iran's ports, angering Tehran and adding uncertainty around the crucial waterway, although hopes for dialogue to end the war provided some relief to oil markets where benchmark prices fell below $100.
A third Iran-linked tanker was entering the Gulf via the Strait of Hormuz on the first full day of ‌the US blockade on vessels calling at Iranian ports, shipping data showed.
The International Committee of the Red Cross said it was deeply concerned by attacks on medical workers in Lebanon after a deadly strike on a Red Cross center in the country and the death of a volunteer a day ‌earlier.

In other news

Listen to the Reuters World News podcast as Joseph Ax explains why US President Donald Trump’s latest move - sharing an AI-generated image of himself as a Jesus-like figure - has led some of his most loyal supporters to say he's crossed a line.
The SAVE America Act looks set to die in Congress, but 23 mostly Republican-led US states have recently changed their voting procedures to mirror key aspects of Trump’s sweeping package of voting restrictions in time for November’s midterm elections, a Reuters analysis shows.
Canadian Prime Minister Mark Carney secured a parliamentary majority for his Liberal government, a win that he has said will help him deal more effectively with the trade war started ‌by Trump.
A new trial over the death of Argentine soccer legend Diego Maradona begins, with seven members of his medical team charged with negligent homicide nearly a year after a previous case collapsed in ‌a mistrial.

Business & Markets

China's export engine slowed sharply in March as war in the Middle East triggered shocks to energy and transportation costs, hurting global demand and exposing the risks in Beijing's strategy of leaning on manufacturing to sustain growth.
The International Energy Agency sharply cut its forecasts for global ‌oil supply and demand growth, saying both are now expected to fall from 2025 levels as war in the Middle East disrupts oil flows and weighs on the global economy.
The more than 3 million US truckers who move goods for everything from grocery stores to factories to construction sites are grappling with the highest diesel prices in years, compounding pressure on the industry as Iran war-related oil price spikes also threaten to weaken freight demand.
Brazil's secretary of labor inspection was fired for adding Chinese automaker BYD to a registry ‌of employers accused of subjecting workers to conditions described by the government as similar to slavery, two people close to the matter told Reuters.
United Airlines CEO Scott Kirby pitched the potential for merging with American Airlines in a meeting with Trump in late February, two sources said, raising the prospect of an industry-reshaping deal likely to ‌face significant regulatory hurdles.
By strangling the Strait of Hormuz, Iran retaliated against the US and eased some financial sanctions. In this episode of The Big View podcast Edward Fishman, senior fellow of the Council on Foreign Relations, tells Peter Thal Larsen how American economic weapons have been turned against it.

Under pressure: Tracking the pain in G7 government debt

The world's major economies have seen their debt levels surge in recent years, while ever-increasing spending demands - from ageing populations to climate change and defense - are adding to the pressure.

Enter the Iran war, which has rekindled inflation risks that will strain governments hit by a multitude of shocks this decade alone.

This live dashboard tracks key measures of government debt in the Group of Seven (G7) advanced economies.

Read our interactive data story

In Pictures

Karol G performs at the Coachella Valley Music and Arts Festival in Indio, California, April 12, 2026. REUTERS/Daniel Cole

Scroll through our highlights from the Coachella Music Festival in the California desert.

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Morning Bid Europe

A look at the day ahead in European and global markets

By Rae Wee, Correspondent

Data refreshes every time you open this email. For more European market news, click here. Please send any feedback to morningbid@thomsonreuters.com.

The U.S. military's blockade of Iran's ports has begun, creating more bad news for global oil supply, but never mind that because markets on Tuesday were riding on hopes of a resolution between Washington and Tehran.

Despite the collapse of peace talks between Iranian and U.S. officials over the weekend, sources told Reuters that dialogue was still alive and a U.S. official said there was forward motion on trying to get to an agreement.

U.S. President Donald Trump also said on Monday that Iran wanted to make a deal, though he would not come to any agreement that allowed Tehran to have a nuclear weapon.

That was enough to spark a rebound in global stocks, with shares in Asia rising alongside U.S. and European futures, while oil prices slipped back below $100 a barrel.

Today's Market News

Inflationary pain

A vessel at the Strait of Hormuz, off the coast of Oman’s Musandam province, April 12, 2026. REUTERS

But the global economy is hardly out of the woods. The inflationary pulse from higher-for-longer energy prices will remain as long as the Strait of Hormuz stays shut, keeping pressure on businesses and everyday consumers.

In Singapore, the central bank on Tuesday tightened its monetary policy settings, flagging inflation risks from the Middle East war.

Meanwhile, China's export engine slowed in March, sharply undershooting forecasts, as buyers chasing an AI-fuelled future ran into the hard reality of the war.

Graphics are produced by Reuters

Earnings season underway

The U.S. earnings season is also underway and will serve as a litmus test of how well, or poorly, companies are dealing with the fallout of the war.

Results from JPMorgan Chase, Wells Fargo and Citigroup are due later in the day, after Goldman Sachs on Monday reported quarterly profit that beat expectations, driven by strength in dealmaking and equities trading.

Key developments that could influence markets on Tuesday:

Earnings: JPMorgan Chase, Wells Fargo, Citigroup, Johnson & Johnson
U.S. March PPI
Fed's Barr, Collins, Barkin, Paulson, Goolsbee speak

Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.