Tensions spike in the Strait of Hormuz

There's been an escalation of the conflict in the Gulf after the US said it had sailed two destroyers through the Strait of Hormuz. Iran said it had fired warning shots at one warship and denied US claims that two US-flagged merchant ships had transited the waterway. Iran has retaliated. The UAE says four cruise missiles were fired towards its territory and a drone hit the Fujairah Oil Industry Zone. Also, Cape Verde has refused docking permission to a cruise ship with a suspected outbreak of hantavirus; and Samsung pays a massive inheritance tax bill in South Korea - but do some super-rich companies dodge tax bills? (Photo: Vessels in the Strait of Hormuz near Bandar Abbas, Iran, 4th May, 2026. Credit: Amirhosein Khorgooi/ISNA/WANA via Reuters)