BN Daybreak - Thu 7 May 2026: US-Iran peace progress; SA ports miss refuel gain; Firearm reform fears

In today's BizNews Daybreak: Global markets soared to record highs as the US and Iran move closer to a deal to reopen the Strait of Hormuz. Domestically, South African industry experts warn that a shift to modular firearm training could quintuple costs and leave security personnel "supply prohibitive" due to increased classroom hours. Financial Mail Editor-in-Chief Rob Rose unpacks the "total arrogance" behind PepsiCo's ProNutro rebranding, which sparked a massive consumer backlash after the company admitted their new machinery simply cannot produce the original formula. Meanwhile, local SA ports struggle to capture rerouted shipping traffic amid ongoing operational and weather-related constraints.