Iran’s President Ebrahim Raisi has died in a helicopter crash, state media reported early this morning.
The helicopter carrying the president came down yesterday in a remote and mountainous region of the country’s north-west, according to the Tasnim News Agency, which is closely linked to the elite Revolutionary Guard. Rescue teams battled for hours to reach the crash site, with fog and snow hindering efforts.
Iran’s foreign minister Hossein Amirabdollahian was also on board the helicopter as part of Raisi’s entourage. We have the latest updates here.
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Instant Insight: The death of Raisi, a man central to Ayatollah Ali Khamenei’s plans to cement the influence of hardliners, has dealt a blow to the supreme leader and his Islamic regime, writes Middle East editor Andrew England.
And here’s what else I’m keeping tabs on today:
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WikiLeaks: A final hearing is held at London’s High Court for WikiLeaks founder Julian Assange’s appeal against his extradition to the US.
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Dollar conference: The Federal Reserve and Federal Reserve Bank of New York jointly host the annual International Roles of the US Dollar conference in Washington.
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Results: Trading statement from Hilton Foods group and first-quarter results from Zoom.
Five more top stories
1. G7 allies have warmed to a US plan to rush aid to Ukraine before Donald Trump’s potential return to the White House, according to western officials. Under the plan, an upfront loan to Kyiv would be backed by future profits generated by about $350bn in Russian assets. Here’s why sentiment on the plan has shifted.
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Nato: Sending troops to Ukraine to train its soldiers does not risk dragging the military alliance into war with Russia, Estonia’s prime minister told the Financial Times.
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Ukrainian economy: Women workers are in demand at the country’s steel plants, as they increasingly take on roles once occupied by men now needed on the battlefield.
2. Mexico is looking for ways to draw more tax revenue from its banking sector which is dominated by Spanish and US lenders. Policymakers are looking to plug a projected deficit to be left by outgoing president, Andrés Manuel López Obrador. The options discussed for banks include restricting tax deductions, and even imposing a windfall tax on profits. Read more here.
3. The US has urged Israel to accept a political solution to the war in Gaza and a regional deal with Saudi Arabia in talks with the Israeli prime minister over the weekend. National security adviser Jake Sullivan made the push during a whirlwind trip to the Middle East, which included talks on Saturday with Saudi Arabia’s crown prince before meeting Benjamin Netanyahu and other top officials yesterday. Here are more details from his trip.
4. Taiwan’s new president has called on Beijing to work with him to de-escalate tensions. Lai Ching-te was sworn into office on Monday. In his inaugural address he called for China to “stop its verbal attacks and military intimidation . . . shoulder global responsibilities together with Taiwan, commit to maintaining peace and stability across the Taiwan Strait and in the region”. Read more about Lai’s plans for Taiwan-China relations here.
5. Environmental groups plan to use new air pollution rules to halt development of natural gas terminals in the US. The rules will require the Federal Energy Regulatory Commission to examine the impact of liquefied natural gas terminals on air quality. New projects have been halted since January when the Department of Energy indefinitely paused the granting of new export licences for terminals while it carried out a review of the project approval process. Read more about the new rules here.
Visual story
Taiwan occupies a strategically vital position for China and the US. For Beijing, Taiwan and its islands are part of its territory, which it wants to unify with the mainland and in the process push US military power ever further away from eastern Asia. Three decades of investment means China’s military is now close to being able to fight a Taiwan war. The FT has identified five key military contests that would help define the outcome of a conflict.
We’re also reading . . .
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Robert Fico: As their prime minister recovers from the attempt on his life, Slovaks wonder if he will seek revenge and cement his grip on power.
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US tariffs: While they might seem the same, there’s a world of difference between Biden and Trump’s tariffs, writes Rana Foroohar.
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Asynchronous work: “This meeting could have been an email” is now a guiding principle for some companies as they ditch regular hours and think of new ways to collaborate.
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Taxing the super-rich: After the recent miracle of global corporate tax reform, a global billionaire tax doesn’t seem so impossible, writes Martin Sandbu.
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Chart of the day
Environmental, social and governance courses are among the most popular subjects offered by top business schools around the world, the latest analysis of the FT’s executive rankings shows. Working with Coursalytics, more than 4,200 courses across 163 schools were examined, providing insights into topics, formats, price and teaching.
Take a break from the news
How much fun do you have at work? There are serious reasons for having a laugh on the job, writes Pilita Clark, but jokes at work need to be deployed with skill and care.
Additional contributions from Tee Zhuo and Benjamin Wilhelm
Read the full article here