Morning Briefing — May 9, 2026

World News

Tehran evaluating U.S. proposal to end war, Iranian lawmaker calls it 'American wish list' — As the blockade of the Strait of Hormuz continues, the damage to the world's economy is becoming more pronounced, and global oil supply is expected to remain pinched for weeks even if the U.S. and Iran reach a peace deal, because shipments will take time to return to normal. U.S. media reports indicate a 14-point memorandum of understanding with Iran is being considered as a framework for nuclear negotiations, but a senior Iranian parliamentarian dismissed it as a 'wish list' while Tehran said it would share its views via Pakistani mediators. CBC

Putin presides over scaled-back Victory Day parade as Ukraine war worries deepen — Russia held a scaled-back Victory Day parade where Putin declared the country would always be victorious, even as worries deepen over the trajectory of the Ukraine war. The Guardian and Reuters both covered the event amid tightening security and the symbolism of the WW2 commemoration. Reuters / Guardian

Germany's cyber chief warns of relentless Russian digital attacks on allies — Germany's cyber warfare commander, Vice-Admiral Thomas Daum, told CBC News that allied nations face relentless digital attacks from Russia and other adversaries as rearmament accelerates across Europe and North America, with cyber intrusions increasingly targeting defence industries, supply chains and ordinary citizens. CBC

Hantavirus human-to-human transmission suspected in cruise ship outbreak — CBC reports that human-to-human transmission of a killer hantavirus is suspected in a cruise ship outbreak, with health authorities investigating one of the first cases of its kind. Bloomberg notes a hantavirus cluster on a remote South Atlantic voyage shows how infections can spread across borders before they're even detected. CBC

Mexico weighs U.S. extradition request for former Sinaloa governor — The Mexican government insists it needs more proof before acting on a U.S. request to hand over the former governor of Sinaloa, Rubén Rocha, with court records suggesting the case stems from a sprawling investigation into the sons of former cartel boss Joaquín 'El Chapo' Guzmán Loera. CBC

Carney says new international order will be 'rebuilt out of Europe' — Canadian Prime Minister Mark Carney proclaimed that Europe will rebuild the new world order in the face of American threats, while Industry Minister Mélanie Joly announced a $1.5-billion industrial initiative. The remarks underscore Ottawa's pivot toward closer European ties amid tense relations with Washington. CBC

Hungary heads to election day with Orbán's 16-year grip in jeopardy — Hungarian PM Viktor Orbán's party is trailing in a new AtlasIntel parliamentary poll, with the firm having a track record of calling major elections accurately, as a former ally threatens to end his 16-year hold on power. Incoming premier Péter Magyar has vowed 'system change,' though analysts warn the scale of corruption to unwind is vast. Newsweek / Bloomberg

Rubio meets Pope Leo as U.S. tries to minimize Trump's attacks on Vatican — In a meeting with Pope Leo, Secretary of State Rubio sought to minimize Trump's attacks on the Vatican, with the Holy See and Washington also reportedly discussing the Middle East amid the ongoing Iran conflict. CBC

Business

Canada's economy dropped 18,000 jobs in April as unemployment hits 6-month high — Canada's unemployment rate rose to a six-month high of 6.9 per cent in April as the economy lost 18,000 jobs, according to Statistics Canada. April's loss means Canada has shed jobs in three of the four months so far this year, totalling 112,000 jobs lost since January, indicating continued weakness in a labour market struggling under U.S. tariffs and trade uncertainty. CBC

Bank of Canada holds key rate at 2.25% amid mounting uncertainty — The Bank of Canada said in its Monetary Policy Report that indicators such as the employment rate, hours worked and job vacancies suggest slack in the labour market, although layoffs remain modest, and held the key interest rate at 2.25% while warning future decisions are clouded by uncertainty around the future of the North American free trade deal and knock-on impacts of higher prices from the Iran war. CBC

Big Tech's $725bn AI spending spree sends cash flows to decade low — Big Tech groups are expected to generate the smallest amount of cash in more than a decade this year as their AI spending hits $725bn, while investors are dumping Indian assets as the energy shock sends the rupee sliding, according to the FT. Meme-stock king Ryan Cohen is also reportedly setting his sights on a leveraged buyout of eBay. Financial Times

Michael Burry warns market feels like 'last months of the 1999-2000 bubble' — CNBC reports Michael Burry says the market feels like 'the last months of the 1999-2000 bubble,' the Federal Reserve is quickly running out of reasons to cut interest rates, and an AWS data center outage hit trading on FanDuel and Coinbase. Wall Street remains in a record-setting stretch despite mounting risks. CNBC

BlackRock private debt fund cuts asset value on loan markdowns — Bloomberg reports BlackRock's private debt fund has cut asset value following loan markdowns, while Rubio discussed the Middle East with the Pope after a Trump dispute, and rap star Drake brought in new investors to Venice Football Club. The markdowns are the latest sign of stress in the booming private-credit market. Bloomberg

EU approves €5 billion German state aid scheme to decarbonise industry — The European Commission has approved a €5 billion scheme by Germany's government to help companies in industrial sectors decarbonise their production processes, a major boost for German industrial competitiveness amid the energy-price crisis. Clean Energy Wire

Hedge funds enjoy biggest gains since 2020 on tech rally — US fuel exports surged to a record level and hedge funds had their best month since 2020, while Samsung Electronics is locked in a feud with workers over how to share the spoils of the AI-driven semiconductor boom and LVMH is considering selling some of its iconic brands. Financial Times

Toyota Q4 profit misses badly as U.S. tariffs drive 49% slump — Toyota's fourth-quarter profit missed by a wide margin as U.S. tariffs drove a 49% slump, highlighting the pain that Trump-era trade policy is inflicting on Japanese carmakers and underscoring concerns about the auto sector's exposure to the broader trade war. CNBC

Technology

AWS data center outage disrupts trading on FanDuel and Coinbase — CNBC reports an AWS data center outage hit trading on FanDuel and Coinbase, while one company that made headlines for aggressive AI-driven layoffs is back in focus. The episode renews concerns about cloud concentration risk as more financial activity moves online. CNBC

Western Digital and Seagate outperform AI chipmakers since ChatGPT debut — Western Digital and Seagate have outperformed leading AI semiconductor companies since ChatGPT debuted in 2022, while the U.S. Bureau of Labor Statistics reported 115,000 nonfarm payroll jobs added in April with unemployment steady at 4.3%, and the White House said growing factory construction jobs — especially around data centres — are a positive sign. Yahoo Finance

Why Wall Street veterans are betting against the AI bubble — A chill is setting in over Wall Street: Peter Thiel's hedge fund recently sold its entire $100m stake in Nvidia, the world's most valuable chip company at the heart of the AI boom, while Michael Burry — famed for predicting the 2008 crisis — bet almost $200m against the chipmaker. Experts warn that if simply throwing more data and computing power at the problem no longer yields dramatically better results, the economic foundations of the AI boom start to wobble. BBC Science Focus

AI's appetite: more data, chips, real estate, power and water — Bloomberg reports the AI industry wants more data, more chips, more real estate, more power and more water, with Microsoft's vast power demands now bringing together two transformative — and risky — technologies. The Three Mile Island nuclear plant is poised for a comeback to feed Microsoft's data centres. Bloomberg

Three Mile Island nuclear plant set for comeback to feed Microsoft AI — The plant on Three Mile Island is poised for a comeback as Microsoft's vast power demands bring together two transformative — and risky — technologies, nuclear and AI. The deal symbolises how hyperscalers are rewriting the U.S. power landscape to chase AI compute capacity. Bloomberg

Guardian frames protests against AI datacentres as cross-partisan movement — The Guardian has spotlighted local opposition to the rapid construction of AI datacentres as a cross-partisan political flashpoint, arguing the protests are an early warning about unchecked big-tech expansion, with commentators pushing back by invoking historical lessons about restricting economically important technologies; the dispute centres on large-scale datacentres for AI workloads, which concentrate electricity, water, and land use. Guardian

Samsung workers demand bigger slice of surging AI chip profits — Samsung Electronics is locked in a feud with its workers over how to share the spoils of the AI-driven semiconductor boom, the FT reports, in a labour fight that highlights how the AI gold rush is reshaping bargaining power inside the world's biggest chipmakers. Financial Times

Pentagon vs $380bn AI giant: how far AI can go in warfare — A high-stakes conflict between the U.S. Defense Department and a $380 billion tech powerhouse goes to the heart of just how far AI can go in warfare, Bloomberg reports, with banks and government agencies racing to gauge the broader threat from new AI systems. Bloomberg

Renewable Energy

Wind and solar saved UK £1.7bn in gas imports since start of Iran war — The UK has avoided the need for gas imports worth £1.7bn since the start of the Iran war, as a result of record electricity generation from wind and solar, with wind and solar generating a record 21 TWh on the island of Great Britain since the end of February 2026, when the US and Israel first attacked Iran — avoiding the need to import 41 TWh of gas, roughly 34 LNG tankers worth around £1.7bn. Carbon Brief

EU eyes fossil-fuel exemptions to flagship methane regulation — The European Commission is considering changes to its flagship methane emissions regulation to give fossil-fuel companies leeway to avoid penalties — a major win for the oil and gas sector — with national authorities able to grant exemptions on energy security grounds, in a move that comes after the Trump administration intensified pressure on the regulation. Carbon Brief

Solar and wind with storage now beat fossil fuels on cost: IRENA — An International Renewable Energy Agency (IRENA) report found solar and wind power paired with battery storage systems are already delivering reliable, round-the-clock electricity at a lower cost than fossil-fuel-dominated energy systems in a growing number of regions. In favourable locations, the round-the-clock combination is now cheaper than fossil fuels. Carbon Brief / IRENA

Norway approves reopening of three closed North Sea gasfields — The Guardian reported that the Norwegian government has been heavily criticised for approving plans to reopen three North Sea gasfields nearly three decades after they were closed, with the justification of energy security amid the Iran war. Guardian

China and Europe form carbon alliance as US bets on fossil fuels — China and the EU have joined forces in a bid to create a global alliance on carbon pricing, putting them at odds with the Trump administration's push to invest more in fossil fuels, Bloomberg reports — a significant geopolitical fault line in climate policy. Bloomberg / Clean Energy Wire

Investors pile into clean-power funds at fastest pace in five years — Investors are piling into clean-power funds at the fastest pace in five years as the Iran war accelerates a global push for energy security and alternatives to oil and gas, with more than £3bn invested in global renewable-energy funds in April, bringing their total net asset value to $43bn, according to the FT. Financial Times

Sea temperatures second-highest on record, raising super-El Niño fears — Global sea temperatures were the second highest on record for the month of April, stoking concerns among scientists that an El Niño warming cycle is brewing that would intensify extreme weather, the FT reported. Scientists forecast warming seas will brew extreme weather in the months ahead, combined with climate change. Financial Times

Amazon rainforest at risk of 'tipping point' from heat plus deforestation — New research published this week shows how even small increases in global temperature, when combined with deforestation, could push the Amazon rainforest past a 'tipping point' — crossing this threshold would trigger the gradual transition of vast swathes of the lush rainforest into dry savannah. Carbon Brief

Rezolv commissions 225MW St. George solar park with battery storage in Bulgaria — Rezolv Energy has inaugurated the 225MW St. George solar park in Silistra, Bulgaria — one of the country's largest renewable projects — built on the former Silistra airport site with nearly 400,000 panels generating around 313GWh annually, plus a 90MW/240MWh battery system supported by the EU's NextGenerationEU programme. GreentechLead

EU and India launch €15.2m EV battery recycling initiative — The EU and India are launching a joint initiative worth €15.2 million dedicated to recycling electric vehicle batteries, as both blocs scramble to lock down critical minerals supply chains and reduce dependence on virgin material imports. Clean Energy Wire

Soil Science

Small soil upgrade in Senegal cuts locust damage and doubles crop yields — Locust swarms can wipe out crops across entire regions, threatening food supplies and livelihoods, but scientists working with farmers in Senegal have shown that improving soil health can dramatically reduce locust damage, a finding that could reshape low-cost pest defence across the Sahel. ScienceDaily

Tropical forests recover twice as fast when soils contain enough nitrogen — New research shows tropical forests can recover twice as fast after deforestation when their soils contain enough nitrogen, with scientists following forest regrowth across Central America for decades. The finding has implications for restoration policy and carbon-removal projects. ScienceDaily

Crops irrigated with wastewater store pharmaceuticals in their leaves — Scientists studying crops irrigated with treated wastewater discovered that trace pharmaceuticals often collect in plant leaves, with tomatoes, carrots and lettuce absorbing medications such as antidepressants and seizure drugs during the experiment. The findings raise food-safety questions in arid regions that increasingly rely on reclaimed water. ScienceDaily

Antibiotics accumulate in major Brazilian river, found in food fish — Antibiotics are accumulating in a major Brazilian river, especially during the dry season when pollution becomes more concentrated, and scientists even detected a banned drug inside fish sold for food, raising concerns about human exposure. ScienceDaily

Atacama Desert soils host surprisingly diverse nematode communities — Even in the ultra-dry Atacama Desert, tiny soil-dwelling nematodes are thriving in surprising diversity, with scientists finding that biodiversity increases with moisture and altitude shapes which species survive. The work expands the known limits of soil life on Earth and informs the search for life on Mars-like worlds. ScienceDaily

Food inflation could quadruple as climate-driven extreme weather hits supply — A new report says food inflation could quadruple as a result of extreme weather driven by climate change, global supply disruptions and continued market volatility, a warning that lands as the Iran war continues to push up energy and fertiliser costs. Farmers Guardian

Chickpeas grown in simulated moon soil point toward lunar farming — Scientists have grown chickpeas in simulated moon soil, offering a promising step toward farming on the lunar surface, with researchers mixing moon-like regolith with worm-produced compost and helpful microbes to support plant growth. ScienceDaily

Hornwort molecular trick could supercharge crop carbon capture — Researchers have uncovered a molecular trick used by hornwort plants that could help future crops capture carbon dioxide more efficiently, with a unique protein feature called RbcS-STAR enabling more effective photosynthesis. If transferable, the trait could boost yields and on-farm carbon sequestration. ScienceDaily

Forest loss falls globally as deforestation regulations tighten — Carbon Brief's Cropped 6 May 2026 reports forest loss falls, deforestation regulations are advancing, and conservationists are working to save 'India's Galapagos.' The improving trend comes as the EU's deforestation regulation finally enters meaningful enforcement. Carbon Brief