Bedugul Coffee: Iran rejects talk of negotiation

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Daily Briefing

By Kate Turton

Hello. Iran's military rejects Trump's talk of negotiation, as the US is expected to send thousands more soldiers to the Middle East. Elsewhere, Lamborghinis are stranded as war disrupts Asia's used-car trade, and US researchers bet on hybrid and GMO seeds.

Plus, Western powers were unable to secure shipping in the Red Sea. Hormuz will be harder.

Today's Top News

An Iranian missile with cluster warhead flies over the city as seen from Tel Aviv, Israel, March 24, 2026. REUTERS/Ronen Zvulun

Middle East

Israel and Iran exchanged airstrikes, as Iran's military rejected President Donald Trump's assertion the US was in negotiations to end the war which has roiled energy and financial markets, saying the US is negotiating with itself.
The Pentagon is expected to send thousands of paratroopers to the Middle East and National Security Correspondent Idrees Ali tells the Reuters World News podcast the soldiers being deployed are from the elite 82nd Airborne Division which specializes in parachute assaults.

In other news

Tracking technologies designed to prevent runway collisions did not work at New York's LaGuardia airport when an Air Canada Express jet struck a fire truck, killing the ‌two pilots, the National Transportation Safety Board said.
Trump's approval rating fell to its lowest point since he returned to the White House, hit by a surge in fuel prices and widespread disapproval of the war he launched on Iran, a Reuters/Ipsos poll found.
Denmark's Prime Minister Mette Frederiksen is ‌expected to hand in her coalition government's resignation after suffering a massive election defeat, but could still emerge as leader of a new cabinet in the coming weeks.
Cuba received a shipment of humanitarian aid from the Nuestra America Convoy, an international effort organized by global activists seeking to circumvent US sanctions that severely restrict shipments of ‌fuel and other goods to the island.
Kenya has finalized negotiations over a trade deal with China, two months after ‌announcing a preliminary agreement that would grant the East African country duty-free access to the Chinese market.

Business & Markets

Oil prices sank about 4% after reports the US ‌had sent Iran a 15-point proposal aimed at ending the war in the Middle East, raising prospects of a ceasefire that could ease supply disruptions in the region.
Brent slipped back under $100 as Iran signaled it may let some non‑combatant ships through the Strait of Hormuz. Hear the full breakdown on the Reuters Morning Bid podcast.
US-listed shares of Arm Holdings jumped nearly 12% in premarket trading after the chip firm projected billions of dollars in annual revenue from its own new artificial intelligence ‌data-center chip.
The US and Israeli strikes on Iran last month plunged the Middle East into crisis, disrupted global shipping routes and spawned a series of headaches for Asia's used-car trade.
A New Mexico jury found Meta violated state law in a lawsuit brought by the state attorney general, who accused the company of misleading users about the safety of Facebook, Instagram and WhatsApp and of enabling child sexual exploitation on those platforms. The jury ordered the company to pay $375 million in civil penalties.
Beef production is the leading driver of agriculture-linked deforestation, accounting for 40% of all ‌forest clearing done to open space for food production, according to details of a study. Sign up for our Sustainable Finance Newsletter to stay up to date on the key companies, data, and decisions in the world of ESG finance.

Western powers were unable to secure Red Sea shipping. Hormuz will be harder

The Western allies trying to negotiate a way to protect the Strait of Hormuz for energy shipping face a stark reality: a similar effort in the Red Sea that started years earlier cost billions of dollars and ultimately failed against Yemen's Houthis.

The costly Red Sea experience - four ships sunk, more than $1 billion in weapons expended, and a route that the shipping industry still largely avoids - looms over the more complex Strait of Hormuz, the shipping artery used by ‌roughly a fifth of global oil and liquefied natural gas supply and now blocked by Iran, a more formidable adversary than the Houthis.

Read more

And Finally...

Lots from the upcoming Julien's Auctions "Music Icons" sale are displayed at the Hard Rock Cafe Piccadilly Circus in London. REUTERS/Marie-Louise Gumuchian

From an array of guitars to stage-worn costumes, memorabilia from the world of heavy metal is on offer in Julien's Auctions upcoming "Music Icons" sale.

A 1974 Gibson Les Paul Ace #1, owned by Ace Frehley, the original lead Kiss guitarist, is considered the star attraction. Guitars played by Metallica's Kirk Hammett and Motley Crue co-founder Mick Mars are also ⁠on offer in the auction.

Read more

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