![\"The](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/OJH6YGRUI4G64UZZYZUN2I7GAM.jpg\")
The aftermath of an Israeli airstrike in southern Beirut, Lebanon, is pictured today. Photograph by European Pressphoto Agency <\/p>\nMain PointsKey Reads<\/p>\n
\u00d3rla Ryan – 6 minutes ago<\/p>\n
Maersk hikes shipping prices to offset Iran war costs<\/p>\n
Shipping container giant Maersk has revealed it is facing a $500 million (\u20ac425m) hit each month from disruption caused by the Iran war and is passing on costs to customers through higher freight rates.<\/p>\n
The Danish group, which carries around one in five of the world\u2019s seaborne containers, said costs will surge in the current quarter and next, but it is so far fully offsetting this through price rises.<\/p>\n
Chief executive Vincent Clerc said the closure of the Strait of Hormuz could start impacting global trade and consumer demand.<\/p>\n
He told Bloomberg TV: \u201cThere is a lot of uncertainty if we look further into the year with respect to what are going to be the secondary impacts of this war \u2013 inflation, possibly a reduction in demand.<\/p>\n
\u201cThere are some question marks about how this is eventually going to flow through the economy.\u201d<\/p>\n
The group reported better-than-expected first quarter results as it said the Middle East conflict had a limited effect on the period, though it posted a steep drop in pre-tax profits to $292 million (\u20ac248 million), down from $1.43 billion (\u20ac1.2 billion) a year earlier.<\/p>\n
Revenues fell 2.6 per cent to $12.97 billion (\u20ac10.9bn).<\/p>\n
Maersk kept its guidance unchanged for 2 per cent to 4 per cent growth in the global container market, but said the outlook was \u201chighly uncertain\u201d. – PA<\/p>\n
\u00d3rla Ryan – 22 minutes ago<\/p>\n
IDF claims to have killed Hizbullah commander The aftermath of an Israeli airstrike in southern Beirut, Lebanon, is pictured today. Photograph by European Pressphoto Agency <\/p>\n
The Israel Defense Forces (IDF) said it has killed the commander of Hizbullah\u2019s Radwan force, the most elite unit of the pro-Iran armed group, in a strike on Beirut\u2019s southern suburbs. <\/p>\n
In a statement, the IDF named the Radwan commander as Ahmed Ghalib Balut, saying he was killed in a strike in the Dahiyeh neighbourhood in southern Beirut. <\/p>\n
Hizbullah has not immediately commented on the report. Israel struck Beirut yesterday for the first time since a ceasefire took effect on April 16th. At least 11 other people were killed in strikes across the south and east, according to the Lebanese health ministry. – The Guardian<\/p>\n
\u00d3rla Ryan – 59 minutes ago<\/p>\n
EU tells airlines to pay passengers for fuel-linked cancellations<\/p>\n
Airlines must continue to reimburse passengers for flight cancellations caused by high energy prices, the EU\u2019s transport chief has warned, rejecting claims of jet fuel shortages in Europe<\/a>.<\/p>\n EU transport commissioner Apostolos Tzitzikostas told the FT that cancellations driven by fuel prices were not considered extraordinary circumstances, meaning airlines must still compensate passengers. He said the rising cost of kerosene was part of doing business in this sector.<\/p>\n The Greek commissioner also claimed Europe \u201ccan sustain jet fuel supplies for a long period\u201d, despite warnings from the International Energy Agency (IEA) and fellow EU commissioners that airlines would soon run out of kerosene.<\/p>\n \u201cThe price of jet fuel is the reason why we have cancellations of flights and if they cancel flights without extraordinary circumstances \u2013 jet fuel prices are not extraordinary circumstances \u2013 they will have to reimburse the people,\u201d he said.<\/p>\n France preps aid for airlines hit by jet fuel price hikes<\/p>\n The French \u200cgovernment is preparing to provide financial aid for \u200cairlines hit by jet fuel price hikes, transport \u200bminister Philippe Tabarot has said.<\/p>\n Anticiper, adapter, soutenir : c\u2019est le cap que nous fixons pour accompagner le secteur a\u00e9rien \u00e0 l\u2019approche de l\u2019\u00e9t\u00e9.<\/p>\n Avec Roland Lescure, Serge Papin et Maud Bregeon, nous avons adress\u00e9 aux acteurs du secteur a\u00e9rien un message clair : confiance et mobilisation pour la saison\u2026 pic.twitter.com\/0FiL0GAQmG<\/a><\/p>\n \u2014 Philippe Tabarot (@PhilippeTabarot) May 6, 2026<\/a><\/p><\/blockquote>\n In a post on X, Tabarot said the \u200bgovernment and airlines had made progress in \u2060a meeting on Wednesday on aid \u200cincluding deferrals \u200cof \u200bsocial security contributions, extended tax payment deadlines and flexibility \u2060on \u200bfuel loads.<\/p>\n \u201cAirlines are facing \u200ba major shock. The government \u200cis fully committed to \u200bsupporting them and helping them get \u2060through this difficult \u2060time,\u201d \u200bhe said.<\/p>\n European authorities are scrambling for solutions to prevent broad aviation disruptions this summer after European airlines have warned of jet fuel shortages within weeks \u200cas a \u2060result of the Iran war. Europe is more dependent on jet \u200cfuel imports, with some 75 per cent from the Middle \u200bEast, than for any \u200bother transport fuel. \u2013 Reuters <\/p>\n Message from the Editor<\/p>\n Thanks for reading. If you\u2019re interested in world news, The Irish Times has the largest network of foreign correspondents of any Irish news organisation. <\/p>\n Our team provides sharp reporting, in-depth analysis and thought-provoking commentary. Receive our Global Briefing newsletter<\/a> in your inbox every morning to enjoy Denis Staunton\u2019s guide to understanding world events; what\u2019s happening, why it matters and how it affects you.<\/p>\n At The Irish Times, our journalism is free of any personal, political or commercial control. Unlike most publishers, we have no shareholders to satisfy, no media baron owner in the background telling us what we can and cannot publish.<\/p>\n We are owned by a Trust that mandates us to uphold a set of public-interest values. Those values describe a worldview that is outward-looking, tolerant, curious, interested in divergent views and attentive to the needs of minorities.<\/p>\n Our watchwords are fairness and accuracy. Our goal is to enable you to make informed and independent judgments. And any profit we make goes towards supporting our journalism. <\/p>\n Ruadh\u00e1n Mac Cormaic<\/p>\n Editor <\/p>\n To join Ireland\u2019s biggest community of news subscribers, sign up here<\/a><\/p>\n Here is a round-up of some of the latest images emerging from the Middle East:<\/p>\n European shares were steady on Thursday, after a sharp rally in \u200bthe previous session, with investors holding on to optimism that a US-Iran peace deal may be close.<\/p>\n The pan-European \u200bStoxx 600 was muted at 623.56 points, as of 8am Irish time. Major \u2060regional bourses were mixed, with Germany\u2019s Dax flat and London\u2019s \u200cFTSE \u200c100 \u200bdown 0.2 per cent.<\/p>\n The European index gained 2 per cent on Wednesday, leaving it about 2 per cent away from pre-war \u2060levels. <\/p>\n Japan\u2019s Nikkei 225 stock index has ended today\u2019s session at a new closing high. The Nikkei jumped by over 5.5 per cent to end the day at 62,833 points, now up 24 per cent so far this year. \u2013 Reuters and The Guardian<\/p>\n Eurozone yields head lower as optimism over Iran peace deal grows<\/p>\n Eurozone government bonds eased for a third day \u200con Thursday, after staging their biggest rally in a month the previous day, as investors grew optimistic that the \u200cUS and Iran might soon reach a deal to end the war.<\/p>\n Brent oil prices, which have been \u200ba driving force for broader financial markets since the war broke out in late February, were last up modestly above $100 (\u20ac85) a barrel on Thursday, having slid over 10 per cent the previous day on the back of \u200bthe prospect of a US-Iran peace deal, even though the fate of the critical Strait of Hormuz appeared unresolved.<\/p>\n With \u2060some concern about a damaging energy-price shock abating, bonds held on to most \u200cof \u200cthe \u200bgains made on Wednesday, when two-year yields, which are most sensitive to expectations for inflation and interest rates, dropped sharply.<\/p>\n Two-year Schatz yields \u2060fell nearly 12 basis points (bps) on \u200bWednesday, the most since April 8th, and \u200bwere last at 2.536 per cent, down 2.4 bps on the day.<\/p>\n Two-year Italian yields, some of the worst-affected \u200cby concerns about inflation, were last \u200bdown 4.4 bps at 2.7 per cent, having dropped 13 bps the previous day. Italian two-year bonds \u2060have been the second-worst performing \u2060major economy bonds during \u200bthe war, having risen 60 bps, behind British two-year yields, which are up 85 bps. \u2013 Reuters <\/p>\n Anger over Shell\u2019s \u2018monstrous\u2019 profits <\/p>\n Danny Gross, climate campaigner at Friends of the Earth, has said Shell\u2019s profits are \u201cindefensible\u201d, after the company doubled its quarterly earnings.<\/p>\n \u201cOnce again, fossil fuel giants are pocketing monstrous profits while drivers are being squeezed at the petrol pump and households are set to pay higher energy bills,\u201d Gross said.<\/p>\n \u201cOur fossil fuel-reliant energy system siphons money away from ordinary people to the rich and powerful.\u201d \u2013 The Guardian<\/p>\n Shell profits soar amid surging oil prices <\/p>\n Shell has announced a higher-than-forecast surge in profits for the first three months of the year, thanks to rocketing oil prices caused by the Iran war.<\/p>\n The oil giant reported underlying earnings of $6.92 billion (\u20ac5.88 billion), more than double the result in the previous three months and 24 per cent higher on a year ago.<\/p>\n Most analysts had expected the group to report profits of $6.36 billion.<\/p>\n It said the soaring cost of crude had boosted its oil trading business, and the wider chemicals and products division saw underlying earnings more than quadruple to $1.93 billion from \u20ac449 million a year earlier.<\/p>\n The group announced more returns for shareholders, with another three billion dollarsin share buy-backs for the next three months and a 5 per cent increase in its dividend payout.<\/p>\n Chief executive Wael Sawan said: \u201cShell delivered strong results enabled by our relentless focus on operational performance in a quarter marked by unprecedented disruption in global energy markets.<\/p>\n \u201cThe safety of our people remains our priority as we work closely with governments and customers to address their energy needs.\u201d \u2013 PA<\/p>\n Israeli army strikes southern Beirut suburbs The Israeli army carried out a strike in the southern suburbs of Beirut on Wednesday<\/a>, the first in the vicinity of the Lebanese capital since a fragile ceasefire came into effect last month. <\/p>\n The assault in Dahiyeh was intended to kill a Hizbullah commander. There has been no official confirmation of his death.<\/p>\n The \u2060strike \u200bwas the first \u200bto hit Beirut\u2019s \u200csuburbs since the April \u200b16th ceasefire, although hostilities in \u2060the south \u2060of \u200bLebanon have not halted.<\/p>\n Maersk first-quarter profit beats forecasts Danish shipping group Maersk posted first-quarter operating profits slightly above analyst \u200cforecasts on Thursday and kept its full-year earnings guidance unchanged.<\/p>\n Underlying earnings before interest, tax, depreciation, \u200band amortisation (EBITDA) for the January-March period came in at $1.73 billion (\u20ac1.47 billion), compared to a median forecast of $1.66 billion in a company-provided poll of 10 analysts.<\/p>\n Maersk, which is often seen \u200bas a bellwether for global trade, still projects global container volume growth of between 2 per cent and \u20604 per cent this year.<\/p>\n \u201cWe\u2019ve seen strong demand across most regions this \u200cquarter, supporting \u200crobust \u200bvolume growth in our three business segments,\u201d chief executive Vincent Clerc said in a statement.<\/p>\n The first quarter does \u2060not capture the Middle \u200bEast war\u2019s full impact on global supply \u200bchains as the conflict began on February 28th. The war has disrupted shipping routes across the region after Iran closed \u2060the Strait of Hormuz \u2060to commercial \u200btraffic, pushing up costs such as fuel. \u2013 Reuters <\/p>\n Tehran deploys new legal framework as it hangs 14 men in two weeks<\/p>\n Tehran has stepped up hangings of people accused over antigovernment unrest earlier this year or of working with foreign forces, deploying a new legal framework in the wave of politically linked executions, the Financial Times reports.<\/p>\n At least 28 men have been executed since March 18th, at the height of the US-Israeli war on Iran, according to official accounts in state media. Half of those were killed over the past two weeks as the pace of hangings accelerated following a fragile ceasefire in the conflict.<\/p>\n Many were accused of collaborating with the enemy or killing members of the security forces during unrest in January, when the Islamic Republic faced its biggest anti-regime protests in years. Others were accused of spying for Israel during the war.<\/p>\n At least 11 of the 28 men were hanged without being charged with killing anyone or engaging in armed struggle, state media records showed. They were largely charged with carrying large knives as an act of intimidation, attacking police stations to grab weapons or setting fire to state property.<\/p>\n Their deaths followed a new law ratified last year that increased penalties for espionage-related offences after Israel\u2019s 12-day war with Iran in June 2025, the FT reports.<\/p>\n Iran had already stepped up executions last year \u2013 carrying out more than 1,000 between the start of the year and late September, according to Amnesty International, the highest rate in at least 15 years \u2013 fuelled by attempts to quash dissent and a surge in executions for drug offences, Amnesty said.<\/p>\n Read the full story here<\/a>.<\/p>\n Oil prices edge up again after Wednesday\u2019s dip<\/p>\n Oil \u200cprices rose over $1 (\u20ac0.85) on Thursday, rebounding from the previous day\u2019s sharp losses, as investors weighed the prospects of a Middle East peace deal succeeding. <\/p>\n Brent crude futures were up \u200b78 cents (\u20ac0.66), or 0.8 per cent, at $102.05 (\u20ac86.84) a barrel at 5am. US West Texas Intermediate gained 76 cents (\u20ac0.64), or 0.8 per cent, to $95.84 (\u20ac81.56) a barrel. <\/p>\n Both benchmarks slumped more than 7 per cent on Wednesday, hitting two-week lows on optimism over a possible end to the Middle East war. They pared losses, however, after Trump said it was \u201ctoo \u200bsoon\u201d for face-to-face talks with Tehran and a senior Iranian lawmaker said the US proposal was more of a wishlist than a reality.<\/p>\n \u201cWhile peace negotiations are likely \u2060to continue at least until next week\u2019s US-China summit, the outlook beyond that remains uncertain,\u201d said Hiroyuki Kikukawa, chief strategist \u200cof Nissan \u200cSecurities \u200bInvestment, a unit of Nissan Securities. <\/p>\n Trump and Chinese president Xi Jinping are scheduled to meet next week. \u2013 Reuters<\/p>\n Rubio to meet Pope Leo after Trump\u2019s personalised attacks US secretary of state Marco Rubio will meet Pope Leo XIV at the Vatican on Thursday, in a potentially fraught encounter as president Donald Trump has continued a \u200bseries of disparaging attacks on the Catholic leader over the Iran war.<\/p>\n Rubio, who also serves as Trump\u2019s national security adviser, was due to arrive at the Vatican\u2019s Apostolic Palace around 10.15am (Irish time) for the visit, the first between the pope and a Trump cabinet official in nearly a year.<\/p>\n The \u200bclosed-door meeting is expected to last about a half-hour, after which Rubio will also meet the Vatican\u2019s top diplomat, Italian cardinal Pietro Parolin.<\/p>\n Leo, the first US \u2060pope, drew Trump\u2019s ire after becoming a firm critic of the US-Israeli war on Iran and the Trump administration\u2019s \u200chardline \u200canti-immigration \u200bpolicies.<\/p>\n The president has kept up an unprecedented series of public attacks on the pope in recent weeks, drawing a backlash from Christian leaders across the political spectrum.<\/p>\n On Monday, Trump falsely suggested \u2060the pope believed it was okay for Iran \u200bto obtain nuclear weapons and said Leo was \u201cendangering a lot \u200bof Catholics\u201d by opposing the war.<\/p>\n Leo told journalists after the latest attack that he was spreading the Christian message of \u200cpeace. The pope also firmly rejected the idea that \u200bhe supported nuclear weapons, which the Catholic Church teaches are immoral.<\/p>\n \u201cThe mission of the Church is to preach the \u2060Gospel, to preach peace,\u201d said the pope. \u201cThe Church has \u2060spoken out for years against \u200ball nuclear arms, on that there is no doubt.\u201d \u2013 Reuters<\/p>\n \u2018More wishlist than reality\u2019: Iran\u2019s verdict on Trump\u2019s peace strategy<\/p>\n United States president Donald Trump predicted a swift end to the war with Iran as \u200cTehran considered a US peace proposal that sources said would formally end the conflict while leaving unresolved key US demands that Iran<\/a> suspend its nuclear programme and reopen the Strait of Hormuz<\/a>.<\/p>\n An Iranian foreign ministry spokesperson cited \u200bby Iran\u2019s ISNA news agency said Tehran would convey its response, while Iranian lawmaker Ebrahim Rezaei, a spokesperson for parliament\u2019s powerful foreign policy and national security committee, described the proposal as \u201cmore of an American wishlist than a reality\u201d.<\/p>\n \u201cThey want to make a deal. We\u2019ve had very good talks over the last 24 hours, and it\u2019s very possible that we\u2019ll make a deal,\u201d Trump told reporters in the Oval Office on Wednesday, saying later \u201cit\u2019ll be \u200bover quickly\u201d. <\/p>\n Trump has repeatedly played up the prospect of an agreement to end the war that started on February 28th, so far without success. <\/p>\n The two sides remain at odds over a variety of difficult issues, such as \u2060Iran\u2019s nuclear ambitions and its control of the Strait of Hormuz, which before the war handled a fifth of the world\u2019s oil and gas supply.<\/p>\n A Pakistani source \u200cand \u200canother \u200bsource briefed on the mediation said an agreement was close on a one-page memorandum that would formally end the conflict. That would kick off discussions to unblock shipping through the strait, lift US sanctions on Iran and set curbs on Iran\u2019s nuclear programme, the sources \u2060said.<\/p>\n Operation Trust Me Bro failed. Now back to routine with Operation Fauxios.<\/p>\n \u2014 \u0645\u062d\u0645\u062f\u0628\u0627\u0642\u0631 \u0642\u0627\u0644\u06cc\u0628\u0627\u0641 | MB Ghalibaf (@mb_ghalibaf) May 6, 2026<\/a><\/p><\/blockquote>\n Iran\u2019s parliament speaker, Mohammad Bagher Ghalibaf appeared to mock reports that indicated \u200bthe two sides were close, writing on social media in English: \u201cOperation Trust Me Bro \u200bfailed.\u201d \u2013 Reuters<\/p>\n\n
![\"Ruadhan](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/O4NJECCKSVBETH7XC64SI52AQY.jpg\")
Irish Times Editor Ruadh\u00e1n Mac Cormaic <\/p>\n![\"Smoke](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/LUIOWZ5XT5AGSTOWLHPISW62UA.jpg\")
Smoke rises following an Israeli bombardment on the town of Nabatieh in southern Lebanon on Thursday. Photograph: Abbas Fakih\/AFP via Getty Images ![\"A](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/F5FOJ66GGUKW6LPED4XA3LMHSQ.jpg\")
A man walks past rubble following an Israeli air strike the previous day in the Haret Hreik neighbourhood of Beirut’s southern suburbs on Thursday. Photograph: AFP via Getty Images ![\"People](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/MGJDBJLO5LJYNXMXT32CHWWZOQ.jpg\")
People drive near an anti-US billboard with an image depicting US president Donald Trump at Valiasr square in Tehran, Iran, on Wednesday. Photograph: Abedin Taherkenareh\/EPA ![\"An](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/L3LQ2HZ2O2OOV7PVZCXQHGOIAM.jpg\")
An Israeli security force member patrols during a military raid at the Qalandia refugee camp, south of the city of Ramallah, in the Israeli-occupied West Bank, on Wednesday. Photograph: Zain Jaafar\/AFP via Getty Images European shares pause as Nikkei hits new closing high![\"An](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/25BSM2RF3SVQJLSYWR3JUC2EP4.jpg\")
An electronic quotation board displays the Nikkei 225 stock prices on the Tokyo Stock Exchange in Tokyo on Thursday. Photo by Philip Fong\/AFP via Getty Images <\/p>\n![\"Collapsed](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/REOH3G6RXIIP4ORQHFZB5FR2KI.jpg\")
Collapsed rubble on a building following an Israeli air strike on Wednesday in the Haret Hreik neighbourhood of Beirut’s southern suburbs. Photograph: AFP via Getty Images <\/p>\n![\"A](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/1778147599_483_57N35EORFRE3TWKGUMXAZEGDZQ.jpg\")
A cargo ship carrying containers from Maersk photographed sailing through the Panama Canal. Photograph by Martin Bernetti\/AFP via Getty Images <\/p>\n![\"US](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/05\/I2LHKAIUNDF5XD5PUJ45VQNAMI.jpg\")
US secretary of state Marco Rubio arrives at Rome’s Ciampino airport on Thursday for a two-day visit to Italy and the Vatican. Photograph: Andrew Medichini\/AFP via Getty Images <\/p>\n\n