Author: Aisha Rahman

  • Trading surge hits markets minutes before Trump’s Iran announcement

    Trading surge hits markets minutes before Trump’s Iran announcement

    S&P 500 futures and crude oil contracts on the Chicago Mercantile Exchange (CME) at approximately 6:50 a.m. ET Monday—mere minutes before President Donald Trump posted on Truth Social that the United States and Iran had held “very good and productive conversations” toward resolving hostilities in the Middle East.

    The timing has raised eyebrows across trading desks and prompted quiet scrutiny from market participants, even as the White House forcefully denies any impropriety.

    According to Bloomberg data reviewed by multiple outlets, roughly 6,200 Brent and West Texas Intermediate (WTI) futures contracts traded in a single minute around 6:50 a.m., representing a notional value of approximately $580 million.

    At virtually the same instant, S&P 500 e-mini futures recorded an isolated burst of activity that stood out against an otherwise subdued pre-market session. Both oil and equity futures then moved dramatically once Trump’s post appeared at 7:05 a.m.

    WTI crude plunged nearly 12% to around $83–$88 per barrel by the close, while Brent fell below $100 for the first time since early March. S&P 500 futures, by contrast, jumped more than 2.5% in the minutes following the announcement, reflecting investor relief that planned U.S. strikes on Iranian energy infrastructure had been postponed for five days.

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    The volume anomalies occurred during thin early-morning liquidity, when even modest order flow can create noticeable spikes. Still, veteran traders described the coordinated moves—aggressive selling or shorting of oil while buying equity futures—as unusually prescient.

    “It’s hard to prove causality… but you have to wonder who would have been relatively aggressive at selling futures at that point, 15 minutes before Trump’s post,” one senior market strategist at a major U.S. broker told the Financial Times. Another hedge-fund portfolio manager with 25 years of experience called the pattern “really abnormal” for a quiet Monday morning with no scheduled data releases or Fed speakers.

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    The SEC and CME Group declined to comment. White House spokesperson Kush Desai rejected any suggestion of insider activity, stating: “The only focus of President Trump and Trump administration officials is doing what’s best for the American people… any implication that officials are engaged in such activity without evidence is baseless and irresponsible reporting.”

    Markets React to De-Escalation — For Now

    Trump’s Truth Social post described “productive conversations” with Iran and ordered the postponement of strikes on Iranian power plants and energy infrastructure for five days, subject to continued talks. Iran’s parliament speaker, Mohammad-Bagher Ghalibaf, quickly denied that any negotiations were underway, calling the claim “fake news” designed to manipulate oil and financial markets.

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    Oil prices, which had climbed aggressively in recent sessions on fears of supply disruption through the Strait of Hormuz, reversed sharply. WTI settled down roughly 10–12% at $83–$88 per barrel, while Brent dropped 11–13% to just under $100. European natural gas (TTF) also fell sharply.

    The moves provided temporary relief to risk assets but highlighted how fragile sentiment remains. Morgan Stanley analysts warned that a sustained rise to $120 per barrel oil could shave 20–30 basis points off Asian GDP growth and force rate hikes in several emerging economies later this year.

    A Pattern of Well-Timed Trades?

    This is not the first instance of unusually prescient trading ahead of major Trump administration announcements in recent months. Hedge funds and energy consultants have privately noted several large block trades that appeared well-timed relative to official statements on Iran and Venezuela.

    While such patterns are difficult to prove as improper without concrete evidence, they have generated “a level of frustration” among institutional investors, according to one portfolio manager.

    Algorithmic and macro strategies can produce rapid cross-asset flows, especially in thin pre-market hours, but the scale and precision of Monday’s moves—selling oil and buying equities just before a de-escalation announcement—left many questioning whether non-public information circulated.

    Political and Market Context

    The episode unfolds against a backdrop of heightened geopolitical tension and domestic political pressure on the Trump administration’s aggressive posture toward Iran. While Trump framed the postponement as a sign of progress, critics argue the administration’s brinkmanship has already inflicted economic pain through elevated energy prices and market volatility.

    For now, the market appears to be pricing in cautious optimism that a wider conflict can be avoided. Yet with Iran denying talks and both sides continuing information operations, the “fog of war” remains thick.

    Investors would be wise to treat headline-driven moves with skepticism—especially when large, well-timed trades precede them.

  • Iran threatens to target Middle East energy and water infrastructure amid U.S. escalation warning

    Iran threatens to target Middle East energy and water infrastructure amid U.S. escalation warning

    Tehran has said it will “irreversibly destroy” essential infrastructure across the Middle East, including vital water systems, if the US follows through on Donald Trump’s threat to “obliterate” Iran’s power plants unless the strait of Hormuz is fully opened within two days.

    As Iranian missiles struck two southern Israeli cities overnight, injuring dozens of people, and Tehran deployed long-range missiles for the first time, the developments signalled a dangerous potential escalation of the war, now in its fourth week, with both sides threatening facilities relied on by millions of people.

    The speaker of the Iranian parliament, Mohammad Bagher Ghalibaf, said on Sunday that vital infrastructure in the region – including energy and desalination facilities – would be considered a legitimate target and would be “irreversibly destroyed” if his country’s own infrastructure was attacked.

    Amnesty International said this month there was a substantial risk that attacks on systems providing essential services such as electricity, heating and running water would violate international law and “in some cases could amount to war crimes” because of the potential for “vast, predictable, and devastating civilian harm”.

    The Iranian military’s operational command headquarters, Khatam al-Anbiya, said Iran would strike “all energy, information technology and desalination infrastructure” belonging to the US and Israel in the region.

    The statement also said that if Trump’s threat was carried out, the strait of Hormuz would be “completely closed, and will not be reopened until our destroyed power plants are rebuilt”.

    Iran’s president, Masoud Pezeshkian, said “threats and terror” were “only strengthening Iranian unity”, while the “illusion of erasing Iran from the map” showed “desperation against the will of a history-making nation”.

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    Guardian graphic. Source: Global Water Intelligence, desaldata.com

    The US president said on Saturday that he was giving Iran 48 hours – until shortly before midnight GMT on Monday – to open the strait of Hormuz, a vital pathway for the world’s oil flows, or the US would “hit and obliterate” Iranian power plants “starting with the biggest one first”.

    The US ambassador to the UN, Mike Waltz, defended Trump’s threat on Sunday, insisting that Iran’s Islamic Revolutionary Guard Corps (IRGC) controlled much of the country’s infrastructure and used it to power its war effort.

    He said Trump would start by destroying one of Iran’s largest power plants, but did not identify it. “There are gas-fired thermal power plants and other type of plants,” and “the president is not messing around”, he said.

    A No 10 spokesperson said Keir Starmer spoke to Trump on Sunday evening about the need to reopen the strait of Hormuz.

    Iran’s representative to the International Maritime Organisation, Ali Mousavi, said on Sunday that the strait was open to all shipping except vessels linked to “Iran’s enemies”, with passage possible by coordinating security arrangements with Tehran.

    Iranian attacks have in effect closed the narrow strait, which carries about a fifth of global oil and liquefied natural gas supplies, causing the world’s worst oil crisis since the 1970s and sending European gas prices surging by as much as 35% last week.

    Only a relatively small number of vessels, estimated at about 5% of the prewar volume, from countries that Tehran considers friendly – including China, India and Pakistan – have been allowed to pass.

    A Tehran billboard featuring a portrait of the late supreme leader Ayatollah Ali Khamenei. (AFP/Getty Images)
    A Tehran billboard featuring a portrait of the late supreme leader Ayatollah Ali Khamenei. (AFP/Getty Images)

    More than 2,000 people have been killed in Iran since 28 February, when the US and Israel began their attacks, and Tehran in turn has struck targets in Israel and the Gulf states. Lebanon was drawn in after Iran-backed Hezbollah attacked Israel.

    Air raid sirens sounded across Israel from the early hours of Sunday morning, warning of incoming missiles from Iran after scores of people were injured overnight in two separate attacks on the southern towns of Arad and Dimona.

    The Israeli army said on Sunday morning that it would strike Tehran in retaliation. The country’s prime minister, Benjamin Netanyahu, said during a visit to Arad that senior IRGC commanders would be pursued.

    “We’re going after the regime. We’re going after the IRGC, this criminal gang,” he said. “We’re going after them personally, their leaders, their installations, their economic assets.”

    The Iranian health ministry spokesperson, Hossein Kermanpour, said patients had been evacuated from the Imam Ali hospital in the south-west city of Andimeshk on Sunday after an airstrike a day earlier.

    Bomb damage in Arad, Israel. (Amir Levy/Getty Images)
    Bomb damage in Arad, Israel. (Amir Levy/Getty Images)

    Israel’s military said it had not been able to intercept the missiles that hit Dimona and Arad, the nearest large towns to the country’s nuclear centre in the Negev desert, which houses what is widely believed to be the Middle East’s only nuclear arsenal.

    Israel has never admitted to possessing nuclear weapons, insisting that the site is for research. The strikes marked the first time that Iranian missiles had penetrated Israel’s air defence systems in the area.

     

    The strikes wounded about 200 people, including a 12-year-old boy and a five-year-old girl, both reported to be in a serious condition. The Israeli broadcaster Channel 13 reported early indications of possible deaths but there was no official confirmation.

    Iran said the attacks had been launched in response to a strike on its main nuclear enrichment facility at Natanz on Saturday. Israel denied responsibility for the attack and the Pentagon declined to comment.

    In Tel Aviv, 15 more people were injured on Sunday morning in a separate incident involving a cluster bomb. The attacks are adding to mounting pressure on Israel’s air defence systems as Iranian strikes increasingly test their limits.

    The World Health Organization said that the war was at a “perilous stage” and called for restraint. “Attacks targeting nuclear sites create an escalating threat to public health and environmental safety,” the WHO director general, Tedros Adhanom Ghebreyesus, said.

    Tehran also fired long-range missiles for the first time on Saturday, the Israeli military chief, Eyal Zamir, said. Two ballistic missiles with a range of 2,500 miles (4,000km) were fired at the US-British Indian Ocean military base at Diego Garcia, he said.

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    Guardian graphic

    The British cabinet minister Steve Reed said one missile had fallen short and the other had been intercepted. There was no assessment backing claims that Iran was planning to strike Europe, he said.

    The Israel Defense Forces had said Iran had missiles that could reach London, Paris or Berlin, but Reed said he was not aware of any assessment at all that Iran was even trying to target Europe, “let alone that they could if they tried”.

    He said in a separate interview that Trump had been “speaking for himself” when he threatened to obliterate Iran’s power plants.

    Analysts said Trump’s threat had placed “a 48-hour ticking timebomb of elevated uncertainty” over energy and financial markets, with a “black Monday” of plunging stock markets and surging energy prices looming unless it was rowed back.

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    Guardian graphic

    At least six overnight attacks targeted a US diplomatic and logistics centre at Baghdad airport, Iraqi officials said, while Saudi Arabia said three missiles had been detected over Riyadh. The UAE said it had responded to Iranian missile and drone attacks.

    In southern Lebanon, Israel said its military had raided Hezbollah sites on Sunday and killed 10 of the group’s fighters. It said it was expanding its ground campaign in Lebanon, warning of a lengthy operation. Hezbollah said it had attacked several border areas in northern Israel. One person was killed in an Israeli kibbutz, emergency services said.

    At least 10 Palestinians were injured on Sunday night in attacks in the occupied West Bank by Israeli settlers who rampaged through nearby villages after holding a funeral for a settler killed in a car crash a night earlier.

    Videos obtained by the Associated Press appeared to show cars and homes set ablaze as army flares lit up the sky near the village east of Nablus and next to the Israeli settlement of Elon Moreh.

    Three Turkish nationals, including a soldier, and three Qatari service personnel were killed when a helicopter crashed in Qatar’s territorial waters, the country’s defence ministry said on Sunday.

    According to an academic analysis seen by Reuters, an interceptor missile that injured dozens of civilians in Bahrain 10 days into the war was probably fired by a US-operated Patriot air defence battery.

    Manama and Washington have blamed an Iranian drone attack for the explosion on 9 March, which Bahrain has said injured 32 people including children, some of them seriously.

  • Trump Blames Iran for Deadly Strike on Girls’ School

    Trump Blames Iran for Deadly Strike on Girls’ School

    President Donald Trump openly accused Iran of carrying out the Feb. 28 airstrike that destroyed the Shajareh Tayyebeh elementary school in Minab and killed at least 175 civilians — the vast majority of them young girls aged 7 to 12 — even though U.S. military investigators have already concluded it is “likely” that American forces were responsible.

    The president’s remarks represent a sharp pivot from the White House’s earlier insistence that “the United States does not target civilians.” They came just hours after Trump attended the solemn dignified transfer ceremony at Dover Air Force Base for six U.S. servicemembers killed in an Iranian drone attack during the opening weekend of the war — a moment of national mourning that the president immediately used to deflect blame onto the very country his administration and Israel have been bombing for nine straight days.

    “In my opinion, based on what I’ve seen, that was done by Iran,” Trump told reporters. “They have no accuracy whatsoever. It was done by Iran.”

    Secretary of War Pete Hegseth, the former Fox News host turned Pentagon chief who has repeatedly pushed for aggressive escalation against Tehran, doubled down on the claim. “The only side that targets civilians is Iran,” Hegseth declared, while acknowledging that a U.S. investigation remains ongoing.

    The coordinated attempt to pin the atrocity on Tehran comes as multiple American outlets report the opposite. Reuters and The Wall Street Journal, citing unnamed U.S. officials with direct knowledge of the probe, revealed that military investigators believe U.S. forces almost certainly carried out the strike. The school sits in southern Iran — the exact zone where the U.S. Navy’s Abraham Lincoln strike group and American aircraft have focused their attacks since Feb. 28, while Israeli forces concentrated on northern targets.

    During a March 4 Pentagon briefing, Joint Chiefs Chairman Gen. Dan Caine used a laser pointer on a map to highlight U.S. operations along Iran’s southern coast and into the Arabian Gulf, explicitly noting the Abraham Lincoln’s role in “attriting naval capability” in that sector. An independent analysis by the International Institute for Strategic Studies confirmed the geographic division of labor: U.S. strikes in the south and center, Israeli strikes in the north.

    Iranian officials, including UN Ambassador Amir Saeid Iravani, have consistently blamed the United States and Israel for the bombing. The Iranian news agency IRNA reported that 175 people died, including dozens of girls between the ages of 7 and 12. Images of the mass funeral — small white coffins draped in Iranian flags passed hand-to-hand through grieving crowds — aired on state television and shocked viewers worldwide.

    Despite the mounting evidence, the White House has clung to denial. Deputy Press Secretary Anna Kelly responded to the Reuters reporting by calling it “irresponsible and false,” insisting “there are no conclusions at this time” and repeating the mantra that “unlike the terrorist Iranian regime, the United States does not target civilians.” The Pentagon has offered only the blandest of statements: “We are aware of reports concerning civilian harm… and are looking into them,” said Capt. Tim Hawkins of U.S. Central Command.

    Secretary of State Marco Rubio, when asked directly, referred all questions to the Pentagon and insisted the U.S. would never deliberately target a school. Hegseth himself, appearing before cameras on Wednesday, offered the same scripted line: “We, of course, never target civilian targets. But we’re taking a look.”

    The pattern is now familiar. From the moment the first bombs fell, the Trump administration and its Israeli partners have insisted this is a “precision” campaign against military targets only. Yet the first major civilian catastrophe of the war — a girls’ elementary school reduced to rubble on day one — has forced repeated rhetorical contortions. First came blanket denials. Then came the quiet internal assessment that U.S. munitions were probably responsible. Now comes the public blame-shifting onto Iran itself.

    The United Nations human rights office has demanded a full investigation, stating bluntly that “the onus is on the forces that carried out the attack.” Deliberately or recklessly striking a school is considered a potential war crime under international humanitarian law. If American responsibility is confirmed — as investigators already privately believe — it would rank among the deadliest single incidents of civilian casualties in decades of U.S. military operations in the Middle East.

    This satellite photo shows the area of a school and base of Iran's IRGC in Minab, Iran, on Wednesday. (PBC/AP)
    This satellite photo shows the area of a school and base of Iran’s IRGC in Minab, Iran, on Wednesday. (PBC/AP)

    The timing of Trump’s accusation is particularly cynical. He delivered it immediately after honoring American dead, as if the deaths of U.S. troops somehow justified rewriting the facts about Iranian children. Hegseth, who has spent months on cable news cheerleading for maximum force against Iran, now finds himself in the awkward position of simultaneously running the investigation and publicly exonerating the U.S. before it is complete.

    This is not the first time the administration has moved the goalposts. Trump began the war promising a quick, clean operation to “clean out” Iran’s leadership. When that failed, he demanded “unconditional surrender.” When civilian casualties mounted, the White House blamed Iran’s own inaccuracy. Now, facing credible evidence of a catastrophic U.S. mistake, the president and his war secretary are simply pointing the finger at the enemy — classic projection from an administration that has shown zero tolerance for accountability since day one.

    The Iranian regime is brutal and repressive; no serious observer disputes that. But the American people were told this war would be surgical, professional, and morally superior to the enemy. Instead, nine days in, we have a girls’ school in ruins, 175 small bodies in flag-draped coffins, and the president of the United States blaming the victims’ own government for a strike American investigators believe their own forces carried out.

    The investigation continues. But the White House’s public messaging has already rendered its verdict — and it is one that insults both the facts and the families mourning in Minab. As the bombs keep falling and the body count rises, the pattern is becoming impossible to ignore: when precision fails, this administration’s response is not reflection or restraint, but deflection and denial.

  • Trump Mourns with Families at Dover as 6 Soldiers Killed in Iran War Return Home

    Trump Mourns with Families at Dover as 6 Soldiers Killed in Iran War Return Home

    President Donald Trump on Saturday joined grieving families at Dover Air Force Base at the dignified transfer for the six U.S. soldiers killed in the war in the Middle East.

    The dignified transfer, a ritual that returns the remains of U.S. service members killed in action, is considered one of the most somber duties of any commander in chief. During his first term, Trump said bearing witness to the transfer was “the toughest thing I have to do” as president.

    Trump, speaking at a summit of Latin American leaders in Miami before his trip to Delaware, said the fallen service members were heroes “coming home in a different manner than they thought they’d be coming home.” He said it was “a very sad situation” and he pledged to keep American war deaths “to a minimum.”

    Both Trump and Vice President JD Vance were present for the transfer, as were their spouses. A host of top administration officials were in attendance, including Defense Secretary Pete Hegseth, who wrote in a social media post Friday of “an unbreakable spirit to honor their memory and the resolve they embodied”; Attorney General Pam Bondi, White House chief of staff Susie Wiles, special envoy Steve Witkoff and Tulsi Gabbard, the director of national intelligence.

    Also present for the solemn event were governors and senators from Iowa, Minnesota, Nebraska and Florida.

    Those killed in action were Maj. Jeffrey O’Brien, 45, of Indianola, Iowa; Capt. Cody Khork, 35, of Winter Haven, Florida; Chief Warrant Officer 3 Robert Marzan, 54, of Sacramento, California; Sgt. 1st Class Nicole Amor, 39, of White Bear Lake, Minnesota; Sgt. 1st Class Noah Tietjens, 42, of Bellevue, Nebraska; and Sgt. Declan Coady, 20, of West Des Moines, lowa, who was posthumously promoted from specialist.

    As is protocol, Trump — wearing a blue suit, red tie and a white USA hat — did not speak during the transfer. The president saluted as each flag-draped transfer case was carried from the military aircraft to awaiting transfer vehicles, which would take them to a mortuary facility to prepare them for their final resting place. The families were largely silent as they observed the ritual, which lasted about a half hour.

    The six members of the Army Reserve, who were killed by a drone strike at a command center in Kuwait, were all from the 103rd Sustainment Command based in Des Moines, Iowa, which provides food, fuel, water and ammunition, transport equipment and supplies. They died just one day after the U.S. and Israel launched its military campaign against Iran.

    “These soldiers engaged in the most noble mission: protecting their fellow Americans and keeping our homeland secure,” Republican Sen. Joni Ernst of Iowa, a combat veteran, said earlier this week after the six were identified. “Our nation owes them an incredible debt of gratitude that can never be repaid.”

    During the ritual, transfer cases draped with the American flag and holding the remains of the fallen soldiers are carried from the military aircraft that transported them to an awaiting vehicle to take them to the mortuary facility at the base. There, the service members are prepared for their final resting place.

    Amor’s husband, Joey Amor, said earlier this week that she had been scheduled to return home to him and their two children within days.

    “You don’t go to Kuwait thinking something’s going to happen, and for her to be one of the first – it hurts,” Joey Amor said.

    O’Brien had served in the Army Reserve for nearly 15 years, according to his LinkedIn account, and his aunt said in a post on Facebook that O’Brien “was the sweetest blue-eyed, blonde farm kid you’d ever know. He is so missed already.”

    Marzan’s sister described him in a Facebook post as a “strong leader” and loving husband, father and brother.

    A combination image of undated photos shows U.S. Army Reserve Captain Cody A. Khork, 35, of Winter Haven, Florida, U.S. Army Reserve Sgt. 1st Class Noah Tietjens, 42, of Bellevue, Nebraska, U.S. Army Reserve Sgt. 1st Class Nicole Amor, 39, of White Bear Lake, Minnesota, and U.S. Army Reserve Sgt. Declan Coady, 20, of West Des Moines, Iowa, who were killed March 1, 2026, at the Port of Shuaiba, Kuwait during a drone attack. (U.S. Army Reserve/Handout via Reuters)
    A combination image of undated photos shows U.S. Army Reserve Captain Cody A. Khork, 35, of Winter Haven, Florida, U.S. Army Reserve Sgt. 1st Class Noah Tietjens, 42, of Bellevue, Nebraska, U.S. Army Reserve Sgt. 1st Class Nicole Amor, 39, of White Bear Lake, Minnesota, and U.S. Army Reserve Sgt. Declan Coady, 20, of West Des Moines, Iowa, who were killed March 1, 2026, at the Port of Shuaiba, Kuwait during a drone attack. (U.S. Army Reserve/Handout via Reuters)

    “My baby brother, you are loved and I will hold onto all our memories and cherish them always in my heart,” Elizabeth Marzan wrote.

    Coady was among the youngest people in his class, trained to troubleshoot military computer systems, but he impressed his instructors, his father, Andrew Coady, told The Associated Press.

    “He trained hard, he worked hard, his physical fitness was important to him. He loved being a soldier,” Coady said. “He was also one of the most kindest people you would ever meet, and he would do anything and everything for anyone.”

    Khork’s family described him as “the life of the party” who was known for his “infectious spirit” and “generous heart” and who had wanted to serve in the military since childhood.

    “That commitment helped shape the course of his life and reflected the deep sense of duty that was always at the core of who he was,” according to a statement from his mother, Donna Burhans, his father, James Khork, and his stepmother, Stacey Khork.

    Tietjens, who came from a military family, previously served alongside his father in Kuwait. When he returned home in February 2010, he reunited with his overjoyed wife in a local church’s gym.

    Tietjens’ cousin Kaylyn Golike asked for prayers, especially for Tietjens’ 12-year-old son, wife and parents, as they navigate “unimaginable loss.”

    Trump most recently traveled to Dover in December to honor two Iowa National Guard members and a U.S. civilian interpreter who were killed in an ambush attack in the Syrian desert. He attended dignified transfers several times during his first term, including for a Navy SEAL killed during a raid in Yemen, for two Army officers whose helicopter crashed in Afghanistan and for two Army soldiers killed in Afghanistan when a person dressed in an Afghan army uniform opened fire.

  • US-Israeli Attacks on Iran Kill Over 1,300 Civilians, Including Women and Children, Tehran Tells UN

    US-Israeli Attacks on Iran Kill Over 1,300 Civilians, Including Women and Children, Tehran Tells UN

    United Nations in New York, Iran’s ambassador has laid bare the horrifying human cost of the ongoing US-Israeli war of aggression against the Islamic Republic — a conflict driven by the same neoconservative warmongers and Zionist hardliners who have long dictated Washington’s disastrous foreign policy.

    At least 1,332 Iranian civilians, including women and children, have been slaughtered in relentless US-Israeli airstrikes, with thousands more wounded, Iran’s UN envoy Amir Saeid Iravani told reporters Friday. The figures, verified by the Iranian Red Crescent Society, expose the true face of this illegal offensive: not “precision strikes” on military targets, as the aggressors cynically claim, but a deliberate campaign of terror against innocent civilians.

    “Over 180 children across the country have been killed and more than 20 schools have been damaged,” Iravani stated, his voice steady but laced with outrage. Thirteen healthcare facilities have been hit, while civilian sports and recreational centers in Tehran and elsewhere were deliberately bombed on Thursday — killing more than 18 female athletes and injuring around 100 others. “Their intention is clear: to terrorize civilians, massacre innocent people, and cause maximum destruction and suffering.”

    These are not collateral damage. These are war crimes and crimes against humanity, the ambassador declared, accusing the US and Israel of recognizing “no red line in committing their crimes.” Densely populated residential areas, critical infrastructure, and everyday civilian life have been targeted with impunity. Claims by Washington and Tel Aviv that they are hitting only military sites? Baseless propaganda, Iravani said flatly.

    Fresh strikes pounded Tehran again overnight, sending the civilian death toll climbing to 1,332 even as Iran’s leadership vows never to surrender its sovereignty. This is the grim reality of Donald Trump’s return to power — a Republican administration once again dragging the world into endless Middle East bloodshed at the behest of its neoconservative advisers and the powerful pro-Israel lobby.

    Trump, fresh off demanding Iran’s “unconditional surrender,” has gone even further, insisting that any new Supreme Leader must be “acceptable” to him personally. Ayatollah Ali Khamenei was assassinated on the very first day of this US-Israeli blitz. Trump told Reuters he must have a direct say in Iran’s internal succession — a breathtaking violation of the UN Charter’s principle of non-interference in sovereign states’ affairs.

    Iran's Ambassador to the United Nations, Amir-Saeid Iravani attends a United Nations Security Council meeting, after the U.S. and Israel launched strikes on Iran, at U.N. headquarters in New York City, U.S. February 28, 2026. REUTERS/Heather Khalifa
    Iran’s Ambassador to the United Nations, Amir-Saeid Iravani attends a United Nations Security Council meeting, after the U.S. and Israel launched strikes on Iran, at U.N. headquarters in New York City, U.S. February 28, 2026. REUTERS/Heather Khalifa

    Iravani called it exactly what it is: “a clear violation of the principles of non-interference in the internal affairs of states enshrined in the Charter of the United Nations.” He added: “The selection of Iran’s leadership will take place strictly in accordance with our constitutional procedures and solely by the will of the Iranian people without any foreign interference.” Hours later, Iran’s president signaled the first hints of mediation from unnamed countries — a desperate diplomatic off-ramp after Trump’s reckless escalation.

    Even US officials are quietly admitting the blood on their hands. Two American sources told Reuters that investigators believe US forces were likely responsible for a devastating strike on an Iranian girls’ school that killed scores of children last Saturday — though a final conclusion is still pending. This comes as the US Central Command boasts of striking over 3,000 targets in Iran and destroying 43 Iranian warships since the offensive began on February 28.

    Yet the hypocrisy is staggering. While Iran insists its retaliatory strikes target only military objectives — and is even investigating stray hits on neighboring states that may have been caused by US interception systems — Washington and its Zionist allies paint themselves as the victims.

    The same neocons who cheered the Iraq disaster, the Libya catastrophe, and endless Israeli occupations are now engineering regime change in Tehran, with full backing from AIPAC and its network of influential donors who have spent decades shaping US policy to prioritize Israeli interests above American ones.

    Iran’s deputy foreign minister has already warned Europe: join this criminal enterprise and you become “legitimate targets.” The Strait of Hormuz remains open for now, but Tehran has made clear it will strike any US or Israeli vessels attempting passage.

    Russian President Vladimir Putin has offered condolences to his Iranian counterpart Masoud Pezeshkian and, according to US sources, is providing intelligence on American military positions — while the Kremlin reports a surge in demand for Russian energy as the war disrupts global oil flows.

    The fallout is spreading. Qatar intercepted nine of ten Iranian drones targeting it Friday. Saudi Arabia and Kuwait reported similar interceptions and debris. Kuwait has begun cutting oil production due to storage shortages. Missiles and drones have hit facilities in Bahrain, Iraq, Oman, and the UAE, killing civilians across the Gulf. Even Lebanon has seen over 120 dead in related Israeli strikes.

    This is not defense. This is naked imperialism — Zionist expansionism backed by Republican hawks and the same AIPAC-driven machinery that has funneled billions in unconditional US aid to Israel while American infrastructure crumbles at home. Trump’s neoconservative cabal never learned the lessons of Afghanistan or Iraq; they simply recycled the script with bigger bombs and bolder lies.

    Iran, for its part, has made its position crystal clear. “Iran does not seek war,” Iravani stressed, “but Iran will never surrender its sovereignty and will take all necessary measures to defend our people, our territory, and our independence.” Its response, he said, is “lawful, necessary, and proportionate” under Article 51 of the UN Charter — targeting only the military machinery of the aggressors.

    Iravani called on all UN member states to condemn this aggression and the war crimes it entails. “The Security Council must act now, firmly, clearly, and without delay,” he urged — before the body count climbs higher and the region descends into full-scale catastrophe.

    As fresh explosions echo through Tehran’s streets and the civilian toll surpasses 1,300, one thing is undeniable: this US-Israeli offensive is not about security. It is about dominance, regime change, and the same failed ideology that has cost millions of lives across the Middle East.

  • US and Israel Launch Major Attack on Iran as Trump Urges Iranians to Overthrow Islamic Leadership

    US and Israel Launch Major Attack on Iran as Trump Urges Iranians to Overthrow Islamic Leadership

    The U.S. and Israel launched a major attack on Iran on Saturday, and President Donald Trump called on the Iranian public to “seize control of your destiny” by rising up against the Islamic leadership that has ruled the nation since 1979. Iran retaliated by firing missiles and drones toward Israel and U.S. military bases in the region.

    Some of the first strikes on Iran appeared to hit areas around the offices of Supreme Leader Ayatollah Ali Khamenei. Smoke could be seen rising from the capital as part of strikes that Iranian media said occurred nationwide. It wasn’t immediately clear whether the 86-year-old leader was in his offices when the attack occurred.

    “When we are finished, take over your government. It will be yours to take. This will be probably your only chance for generations,” Trump said in a video announcing “major combat operations.” “For many years, you have asked for America’s help, but you never got it.”

    Israeli Prime Minister Benjamin Netanyahu echoed that goal, saying, “Our joint operation will create the conditions for the brave Iranian people to take their fate into their own hands.”

    The strikes during the holy fasting month of Ramadan opened a stunning new chapter in U.S. intervention in Iran and marked the second time in eight months that the Trump administration has used military force against the Islamic Republic. They also came weeks after a U.S. military operation that captured Venezuela’s president, Nicolás Maduro, and brought him and his wife to New York to face federal drug conspiracy charges.

    The targets included members of Iran’s leadership, according to a U.S. official and another person briefed on the attacks who spoke on condition of anonymity to discuss an ongoing operation. There was no immediate information on whether top officials had been killed.

    Even if Iran’s top leaders were to be killed, regime change is not guaranteed and neither the U.S. nor Israel have articulated a vision for what new leadership would look like.

    Democrats decried that Trump had taken action without congressional authorization. Rep. Hakeem Jeffries, the top House Democrat, said that though Iran is a “bad actor,” the president must nonetheless “seek authorization for the preemptive use of military force that constitutes an act of war.”

    Tensions have soared in recent weeks as American warships moved into the region. Trump said he wanted a deal to constrain Iran’s nuclear program at a moment when the country is struggling at home with growing dissent following nationwide protests.

    Iran strikes U.S. bases in the Middle East

    Screenshot 2026 02 28 at 10.09.50 PM
    Iran has retaliated to countrywide strike by U.S. and Israeli jets. Iran has targeted U.S. bases scattered across the Middle East, including nearby Gulf monarchies and have vowed to continue attacks, as Geneva-based nuclear talks failed to result in a deal

    The immediate trigger for Saturday’s strikes appears to be the unsuccessful latest round of nuclear talks. But they also reflect the dramatic changes across the region that have left Iran’s leadership in its weakest position since the Islamic Revolution nearly half a century ago.

    Israeli and American strikes last June greatly weakened Iran’s air defenses, military leadership and nuclear program. A regionwide war, sparked by Hamas’ Oct. 7, 2023, attack on Israel, has left Iran’s network of proxies across the Middle East greatly weakened. U.S. sanctions and global isolation, meanwhile, have decimated Iran’s economy.

    Iran responded to the latest strikes as it had been threatening to do for months, including by launching missiles and drones targeting Israel as well as strikes targeting U.S. military installations in Bahrain, Kuwait and Qatar. “The time has come to defend the homeland and confront the enemy’s military assault,” Iran’s Foreign Ministry said in a statement on X.

    At least 57 people were reported killed at a girls’ school in southern Iran in the Israeli-U.S. strikes, and dozens others were wounded, according to Iran’s state-run IRNA news agency. The White House and the Israeli military did not immediately respond to a request for comment.

    In an indication of the scope of the conflict, flights across the Middle East were disrupted and air defense fire thudded over Dubai, the commercial capital of the United Arab Emirates.

    Shrapnel from an Iranian missile attack on the capital of the UAE killed one person, state media said.

    Attack was coordinated between Israel and US

    The U.S. military has for weeks amassed forces in the region, even as U.S. and Iranian envoys held talks in Switzerland and Oman aimed at finding a diplomatic solution.

    “Active and serious negotiations have yet again been undermined,” Oman’s Foreign Minister Badr al-Busaidi said on X. Al-Busaidi, a key mediator in the talks, traveled to Washington on Friday to meet with Vice President JD Vance.

    “Neither the interests of the United States nor the cause of global peace are well served by this,” al-Busaidi said. “And I pray for the innocents who will suffer. I urge the United States not to get sucked in further.”

    Israel said the operation has been planned for months with the U.S.

    Trump, in justifying the military action, claimed Iran has continued to develop its nuclear program despite asserting last year the program had been “obliterated” by an earlier round of strikes. He acknowledged Saturday that there could be American casualties, saying “that often happens in war.”

    It was a notable call on Americans to brace themselves from a U.S. leader who swept into office on an “America First” platform and vowed to keep out of “forever wars” that had bogged down his recent predecessors.

    Trump’s statement listed grievances beyond the nuclear program, stretching back to the beginning of the Islamic Republic following a revolution in 1979 that turned Iran from an American ally in the Middle East into a fierce foe.

    The U.S. president said he was aiming to “annihilate” the Iranian navy and destroy regional proxies supported by Tehran.

    He also called on the Iranian Revolutionary Guard to lay down arms, pledging members would be given immunity, while warning they would face “certain death” if they didn’t.

    Trump had threatened military action, but held off, following Iran’s recent crackdown on protests spurred by economic grievances and evolved into a nationwide, anti-government push against the ruling clerics.

    The Human Rights Activists News Agency says it confirmed more than 7,000 deaths in the crackdown and that it is investigating thousands more. The government has acknowledged more than 3,000 killed, though it has undercounted or not reported fatalities from past unrest.

    Iran has said it hasn’t enriched since June, but it has blocked international inspectors from visiting the sites America bombed during a 12-day war then. Satellite photos analyzed by The Associated Press have shown new activity at two of those sites, suggesting Iran is trying to assess and potentially recover material there.

    Iran currently has a self-imposed limit on its ballistic missile program, limiting their range to 2,000 kilometers (1,240 miles). That puts all the Mideast and some of Eastern Europe in their range.

    Iran had hoped to avert a war, but maintains it has the right to enrich uranium and does not want to discuss other issues, like its long-range missile program or support for armed groups like Hamas and Hezbollah.

    The strikes could rattle global markets, particularly if Iran is able to make the Strait of Hormuz unsafe for commercial traffic. A third of total worldwide oil exports transported by sea passed through the strait in 2025..

    Strikes hit targets across Iran

    Iranian media reported strikes nationwide. Roads to Khamenei’s compound in downtown Tehran had been shut down by authorities as other blasts rang out across the capital.

    Khamenei has not made a public appearance in recent days and wasn’t immediately seen after. During the 12-day war in June, he was believed to have been taken to a secure location away from his Tehran compound.

    Targets in the Israeli campaign included Iran’s military, symbols of government and intelligence targets, according to an official briefed on the operation, who spoke on condition of anonymity to discuss nonpublic information on the attack.

    Iran retaliates

    Hours after the strikes, Iran’s paramilitary Revolutionary Guard said it launched a “first wave” of drones and missiles targeting Israel. There was no immediate word on any damage or casualties.

    Saudi Arabia said in an announcement on state-run media that Iran had targeted its capital and its eastern region in an attack that was repelled.

    Bahrain said a missile attack targeted the U.S. Navy’s 5th Fleet headquarters in the island kingdom. Witnesses heard sirens and explosions in Kuwait, home to U.S. Army Central. Explosions could also be heard in Qatar.

    US and Israel strike locations across Iran

    Screenshot 2026 02 28 at 10.19.45 PM
    Iran has retaliated to countrywide strike by U.S. and Israeli jets. Iran has targeted U.S. bases scattered across the Middle East, including nearby Gulf monarchies and have vowed to continue attacks, as Geneva-based nuclear talks failed to result in a deal

    The Iranian-backed Houthis in Yemen vowed to resume attacks on Red Sea shipping routes and on Israel, according to two senior Houthi officials who poke on condition of anonymity because there was no official announcement.

    U.S. embassies or consulates in Qatar, United Arab Emirates and Israel posted on social media that they told staffers to shelter in place and recommended all Americans “do the same until further notice.”

  • U.S.–Israel Airstrike Hits Iranian Girls’ School

    U.S.–Israel Airstrike Hits Iranian Girls’ School

    The U.S. military told The New York Budgets it was “looking into” reports of an airstrike Saturday morning that the Mission of Iran to the United Nations said killed more than 150 children at a girls’ elementary school in southern Iran. The Post could not independently verify this figure.

    Iranian state media said U.S.-Israeli airstrikes targeted the Shajarah Tayyiba girls’ school in the Iranian city of Minab while children were attending classes at the school and that the search for survivors ended Sunday.

    The school is near what appears to be a military installation, according to satellite imagery and open source material. An Iranian official, speaking on the condition of anonymity to discuss sensitive information, said the school was near a “small medical center.” When asked if an IRGC base was present in the city, he did not confirm or deny it, but said it would not be unusual for one to be located there.

    Video recorded by bystanders and verified by The Budgets showed a crowd frantically gathered around the school after it was struck. Shattered glass and crumbled wall blanketed the ground. One side of the building appeared to have nearly collapsed, as smoke rose from the debris. Additional footage released by Iranian media showed backpacks apparently stained with blood and a row of what appeared to be corpses in body bags.

    Responding to the reports of the strike that hit the school, U.S. Navy Capt. Tim Hawkins, a spokesman for U.S. Central Command, told The Post that the military was “aware of reports concerning civilian harm resulting from ongoing military operations. We take these reports seriously and are looking into them.”

    He added that “protection of civilians is of utmost importance, and we will continue to take all precautions available to minimize the risk of unintended harm. Unlike Iran, we have never — and will never — target civilians.”

    The most recent overall toll from the U.S. and Israeli strikes on Iran has reached 201 dead and 747 injured across 24 provinces, according to Iran’s state broadcaster, citing figures from the Iranian Red Crescent Society. The Post could not independently verify these casualty reports.

    Minab is in southern Iran near the strategic Strait of Hormuz sea route. Iran’s school week begins on Saturday, according to Islamic custom.

    The attack has provoked widespread anger in Iran and around the world. At a protest in New York City, Aisha Jukaku, a 41-year-old resident of Manhattan, said she quickly made her way to Times Square after she saw news reports of a school being bombed in Iran. “I’m sick to my stomach about us going into another war,” said Jukaku, an Indian American who is Muslim.

    In a post on X, Nobel Peace Prize winner Malala Yousafzai said she was “heartbroken and appalled” by the strike. “They were girls who went to school to learn, with hopes and dreams for their future. Today, their lives were brutally cut short.”

  • US and Israel Launch Joint Attack on Iran as Explosions Rock Israel and Gulf Arab States

    US and Israel Launch Joint Attack on Iran as Explosions Rock Israel and Gulf Arab States

    The United States and Israel have launched an attack on Iran, with explosions heard and seen across Tehran and in other parts of the country, as apparent retaliatory explosions are hitting northern Israel and multiple Gulf Arab states.

    Several missiles struck University Street and the Jomhouri area in Tehran, the Fars news agency reported. Smoke was seen rising in the city, according to an Al Jazeera correspondent on the ground.

    Iran’s semiofficial Tasnim News Agency reported that explosions also occurred in Tehran’s northern Seyyed Khandan area. Other Iranian media reported attacks nationwide, including in the western Ilam province, while Israel’s military confirmed carrying out attacks in western Iran.

    An Israeli strike hit an elementary girl’s school in Minab, a city in the Hormozgan province of southern Iran, killing at least 40 people, according to according to the state-run IRNA news agency..

    Iran’s Foreign Ministry said the attacks targeted a range of military and defence sites, as well as civilian infrastructure, in various cities.

    US President Donald Trump said the joint attacks were aimed at “eliminating imminent threats from the Iranian regime”.

    “Short time ago, US military began major combat operation in Iran. Our objective is to defend the American people by eliminating threats from the Iranian regime,” he said.

    An Iranian official told Reuters that Tehran ⁠is preparing ⁠for a retaliation that is set ⁠to be ⁠”crushing”. Iran is preparing to “take revenge” on Israel and deliver a “strong response”, State TV reported.

    A senior Iranian official told Al Jazeera that “all American and Israeli assets and interests in the Middle East have become a legitimate target” and that “there are no red lines after this aggression”.

    Explosions in Israel, Bahrain, UAE, Kuwait

    Explosions rocked northern Israel as the country worked to intercept incoming Iranian missiles shortly after it attacked Iran. The blasts echoed just after the Israeli military said it would be using its air defence systems to bring down the Iranian fire. There was no immediate word on any casualties or damage from the ongoing attack.

    Blasts also occurred across numerous Gulf Arab states that host US military assets, including Qatar, Kuwait, the United Arab Emirates and Bahrain. Iran’s Fars News Agency confirmed the country had carried out attacks targeting military bases in each of the states, including Al Udeid Air Base in Qatar and the headquarters of the US Navy’s 5th Fleet in Bahrain.

    Qatar’s Defence Ministry said it had “successfully thwarted a number of attacks targeting the country’s territory”, after several rounds of alerts sounded.

    The UAE’s state news agency reported one person was killed in Abu Dhabi after Iranian missiles were intercepted.

    Muhanad Seloom, assistant professor in Critical Security Studies at the Doha Institute for Graduate Studies, told Al Jazeera that Iran wants to “raise the cost” for countries in the region that are close to the US.

    “They are trying to draw other countries in the region into this war,” said Seloom. “They want to raise the cost for these countries, with the hope probably that these countries will pressure the US administration to stop this war.”

    ‘Joint US-Israeli action’

    Israel’s Prime Minister Benjamin Netanyahu said the attacks on Iran aimed to remove an “existential threat”. Netanyahu projected that “joint action” by Israel and the US “will create the conditions for the brave Iranian people to take their fate into their own hands” and praised Trump for his “historic leadership”.

    A US official told Al Jazeera earlier that the attacks were carried out as a joint military operation between Israel and the US, which has assembled a vast fleet of fighter jets and warships in the region to try to pressure Iran into a deal over its nuclear programme. A US official told Reuters that attacks were being carried out by air and sea.

    One of the areas targeted in Iran’s capital was near the offices of Supreme Leader Ayatollah Ali Khamenei, reported The Associated Press. Khamenei is not in Tehran and has been transferred to a secure location, according to an official quoted by Reuters.

    Sirens in Israel

    As sirens sounded and a state of emergency was declared in Israel, the Israeli military said it had issued a “proactive alert to prepare the public for the possibility of missiles being launched toward the state of Israel”.

    The Israel Airports Authority announced its airspace had been closed to all civilian flights and urged the public not to come to the airport.

    According to an Israeli defence official quoted by Reuters, the attacks had been planned for months and the ⁠launch date ⁠decided ⁠weeks ago, even as the US and Iran carried out negotiations.

    Mehran Kamrava, director of the Iranian studies unit at the Arab Center for Research and Policy Studies and professor at Georgetown University in Qatar, said Israel “appears to have launched an attack designed to derail the negotiations”.

  • Weight-Loss Drug Price Wars Are Upending Big Pharma’s Business Model

    Weight-Loss Drug Price Wars Are Upending Big Pharma’s Business Model

    The multibillion-dollar market for GLP-1 weight-loss drugs, once a duopoly dominated by Novo Nordisk and Eli Lilly, is fracturing under intense pricing pressure, political intervention, and rising competition from compounded alternatives. What began as a revolutionary breakthrough in obesity treatment has evolved into a fierce price war that’s challenging the core business models of Big Pharma giants, raising questions about innovation, profitability, and access to life-changing medications.

    Novo Nordisk, the Danish pioneer behind Ozempic and Wegovy, stunned investors this week by forecasting a 5% to 13% sales decline in 2026 – its first drop since 2017 – amid “unprecedented” U.S. price cuts and patent expirations in key markets like China and Brazil. The company’s shares plunged 17% on Wednesday, erasing nearly $50 billion in market value, as CEO Mike Doustdar acknowledged short-term “pain” from slashing prices to boost volumes and compete with Lilly’s surging Zepbound and Mounjaro.

    In contrast, U.S. rival Eli Lilly delivered a bullish outlook, projecting 25% revenue growth to $80-83 billion in 2026, far exceeding Wall Street expectations. Lilly’s tirzepatide-based drugs raked in over $36 billion in 2025, outpacing Novo’s semaglutide portfolio and positioning Lilly as the clear leader in the GLP-1 race. “We’re seeing incredible demand, and our manufacturing investments are paying off,” Lilly CEO David Ricks told analysts, downplaying pricing headwinds as a temporary drag offset by volume gains.

    As illustrated in the accompanying chart from LSEG Workspace, Novo’s revenues have boomed in double digits for years, driven by weight-loss drug sales, but the firm now anticipates a sharp reversal in 2026 due to these pressures.

    The divergence highlights how pricing dynamics, fueled by U.S. President Donald Trump’s “most favored nation” (MFN) policy and direct-to-consumer platforms like TrumpRx.gov, are reshaping the industry. Launched on February 5, TrumpRx connects Americans to discounted drugs from manufacturers like Novo, Lilly, Pfizer, and AstraZeneca, offering prices as low as $149 for Wegovy’s starter dose – a fraction of the original $1,000 monthly list price. In exchange, companies received tariff relief and expedited approvals, but critics argue it sidesteps systemic issues, with limited impact for insured patients who may still pay less through coverage.

    “TrumpRx could have some impact, but it’s far from revolutionary,” said Craig Garthwaite, director of health care at Northwestern University’s Kellogg School of Management. Experts like economist Öner Tulum warn that MFN relies on opaque global pricing, allowing companies to game the system by raising overseas prices or delaying launches.

    Adding fuel to the fire, telehealth provider Hims & Hers Health launched a $49 compounded semaglutide pill on February 5 – just weeks after Novo’s Wegovy pill debut – prompting Novo to vow “legal and regulatory action” for alleged patent infringement and patient safety risks. Hims uses liposomal technology to aid absorption, bypassing Novo’s proprietary SNAC method acquired in a $1.8 billion deal. The FDA has warned against compounded GLP-1s, citing lack of safety evaluations, while the Department of Health and Human Services referred Hims to the Justice Department for investigation.

    This isn’t the first clash: Novo previously partnered with Hims for Wegovy injections but ended ties acrimoniously last summer. Now, compounded knockoffs – estimated to serve 1.5 million Americans – threaten the duopoly’s pricing power. “This new offering could test how far compounders can skirt Big Pharma’s patents,” said Deb Autor, Hims’ chief policy officer.

    The broader shift to cash-pay channels has made prices more sensitive, with injectables now starting at $149-$299 on company sites, down from $1,000. Analysts like Markus Manns at Union Investment fear a “no-win” price war: “There’s no assurance cuts will pay off.” Bernstein’s Courtney Breen noted Novo’s cuts are risky given its trailing position.

    Lilly holds clinical edges – Zepbound achieves higher weight loss than Wegovy’s injection, while Novo’s pill edges Lilly’s upcoming orforglipron in trials. Lilly expects orforglipron approval in Q2 2026, potentially expanding the market further. “Pills could reshape GLP-1s like consumer products,” one analyst noted.

    Yet the market is crowding: Pfizer and Amgen eye 2028 launches, while GSK focuses on obesity’s downstream effects like liver disease. Goldman Sachs raised Lilly’s target to $1,260, citing confidence in 25% growth despite pressures.

    Critics argue Big Pharma’s model prioritizes shareholders over patients. Economist William Lazonick’s research shows U.S. pharma spent $747 billion on buybacks and dividends from 2012-2021, exceeding $660 billion on R&D. During the pandemic, 18 firms distributed $377.6 billion to shareholders – over 90% of profits – while claiming high prices fund innovation. “It’s a fallacy,” said UNAIDS’ Winnie Byanyima. “Profits go to Wall Street, not cures.”

    A Senate HELP Committee report echoed this: In 2022, Bristol Myers Squibb spent $12.7 billion on buybacks, dividends, and exec pay versus $9.5 billion on R&D. Overall, 10 firms with drugs under Medicare negotiation spent $162 billion on shareholder handouts and marketing in 2023 – far outpacing $95.9 billion on R&D.

    As shown in the second chart from LSEG, Novo’s market cap peaked in June 2024 before a sharp plunge, reflecting these pressures and Lilly’s ascent toward a trillion-dollar valuation.

    What tames Big Pharma? Tulum suggests emulating the VA system’s deep discounts via centralized negotiation. Biden’s Inflation Reduction Act (IRA) enabled Medicare negotiations for 10 drugs in 2026, including GLP-1s like Ozempic in 2027. Yet industry lobbies fiercely, with $83.2 million in trade dues funding opposition in 2023.

    Mark Cuban’s Cost Plus Drugs offers transparent markups, but scalability is limited. Ultimately, reformers like Lazonick advocate banning buybacks and stock-based pay to redirect profits toward innovation.

    As prices fall and competition rises, the GLP-1 war may force Big Pharma to adapt – or face a reckoning. For patients, lower costs could mean broader access, but sustained innovation requires reining in financialization.

  • Magnitude 5.5 Earthquake Strikes Bangladesh: At Least Five Lives Lost

    Magnitude 5.5 Earthquake Strikes Bangladesh: At Least Five Lives Lost

    Dhaka, Bangladesh — A powerful 5.5-magnitude earthquake struck central Bangladesh on Friday morning, claiming at least five lives—including a child and a medical student—and injuring more than 100 others in a wave of panic that saw residents fleeing swaying buildings across the densely populated capital of Dhaka. The shallow quake, centered just 25 kilometers (16 miles) east of Dhaka in the Ghorashal area of Narsingdi district, rattled the nation at 10:38 a.m. local time (04:38 GMT), sending tremors as far as neighboring Indian cities like Kolkata, Guwahati, Agartala, and Shillong.

    Authorities reported a death toll ranging from three to six, with the higher figure cited by Dhaka-based DBC Television, attributing fatalities to collapsing building roofs, walls, and railings that crushed pedestrians below. Three pedestrians in Dhaka’s Koshaitoli area were killed instantly when a six-story building’s railing gave way, while two others—a medical student who fell from an eight-story structure and a newborn in Narayanganj—succumbed to injuries from debris. Injuries mounted to over 250 in some estimates, including more than 200 garment factory workers caught in a stampede in Gazipur and five Dhaka University students who jumped from residence halls in fright. Dhaka police officer Ashish Kumar Ghosh confirmed two victims died on the spot, with another passing at Mitford Hospital.

    The U.S. Geological Survey (USGS) pegged the quake at magnitude 5.5 with a depth of just 10 kilometers (6 miles), warning of potential “significant casualties” due to its proximity to Dhaka’s 170 million-strong population. Bangladesh’s Meteorological Department recorded a slightly higher 5.7 magnitude, noting the shaking lasted 26 seconds and originated from reverse faulting within the Indian Plate. While northern and southeastern Bangladesh lie in a seismically active zone where the Indian and Eurasian plates collide, the central region—including Friday’s epicenter in Madhabdi—has seen only 14 quakes of 5.5 or greater since 1950, making this event a rare jolt for the area.

    Panic gripped Dhaka, a city of over 20 million where many were home on their weekly day off. “I’ve never felt an earthquake like this before, never in my life—this was the first time,” one resident recounted, describing how the sudden rumble woke him from sleep and sent his building into a frenzy. “We felt a strong jolt and buildings were shaking like trees,” echoed Suman Rahman, another local, as staircases jammed with terrified families rushing downstairs, children crying amid the chaos. AFP reporters witnessed weeping crowds in the streets, some in shock, while social media flooded with videos of swaying high-rises and crumbling facades. In Kolkata, over 325 kilometers away, 66-year-old Sumit Dutta bolted from his bed as his furniture trembled, though no casualties or major damage were reported across the border.

    People stand in an alley after vacating their homes following an earthquake in Dhaka. © REUTERS
    People stand in an alley after vacating their homes following an earthquake in Dhaka. © REUTERS

    The quake’s ripples extended to sports, briefly suspending the second Test match between Bangladesh and Ireland at Dhaka’s Sher-e-Bangla National Cricket Stadium in Mirpur. Play halted for about three minutes as players, umpires, and spectators—including Irish cricketers—sprinted to the open field for safety, with television cameras capturing the confusion. “Goodness. Play has stopped here due to a minor tremor/earthquake,” Cricket Ireland posted on X, formerly Twitter. Witnesses in the press box described jammed stairwells and reluctance to re-enter enclosed spaces, even after tremors subsided.

    Interim government chief Muhammad Yunus swiftly addressed the nation, expressing condolences and mobilizing emergency services. “The government is taking all necessary measures, giving the utmost importance to the safety of the people,” he said in a statement, urging calm and vigilance against rumors. “Everyone is urged to remain alert… Further guidance will be provided through hotlines and official channels if necessary. We remain committed to ensuring the safety of all citizens.” Relief teams fanned out to inspect older multistory buildings and construction sites, where falling bricks and loose cement caused many injuries. Power disruptions rippled nationwide from affected stations, exacerbating the disarray.

    As aftershocks loomed, officials warned the death toll could rise with incoming reports from remote areas. Seismologists emphasized the quake’s moderate strength but noted its shallow depth and urban proximity amplified the human toll. For a nation still recovering from political upheaval, this seismic surprise underscored vulnerabilities in one of South Asia’s most earthquake-prone corridors.