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President Xi in Paris, Met Gala in New York and a rate decision in London

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President Xi in Paris, Met Gala in New York and a rate decision in London

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Hello and welcome to the working week.

Get out your glad rags because it’s time for the rich and powerful to show off in front of the cameras. Yes, New York is hosting the annual Met Gala and the theme is Sleeping Beauties: Reawakening Fashion. Will Elon Musk turn up again looking like an awkward teenager in his white tie and tails? For more details, read the excellent Fashion Matters newsletter. FT subscribers can sign up here.

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China’s President Xi Jinping may well be hoping that a bit of French fashion chic will rub off on him as he arrives in Paris for the first of several European state visits this week. Monday will be the key meeting with both French President Emmanuel Macron and European Commission head Ursula von der Leyen. Xi will then travel to Serbia and Hungary.

This week’s newsworthy rate setters are the Bank of England and, to a lesser extent, the Reserve Bank of Australia. Neither is expected to move rates, but watch out for signals that cuts are coming soon. UK watchers will be looking out for the first stab at first-quarter GDP numbers on Friday, expected to confirm the general perception of an economy at best only able to produce sluggish growth. Elsewhere, China looks to trade and Germany to factory orders.

It’s a delayed start to the week for the financial markets in London, Tokyo and Seoul due to the May Day and Children’s Day public holidays, but still a fairly busy week for corporate news. Media is a strong theme for this week’s results, with Disney, Fox, Warner Bros Discovery and (big for the UK) ITV all reporting. Also, on Tuesday, BP reports first-quarter numbers, with analysts expecting strong growth in gas trading but weaker fuel margins. Will there be any more changes to the senior management team in the wake of the Bernard Looney scandal?

One more thing . . . 

This is a bumper week for British anniversaries. Monday not only marks a year since King Charles III was crowned at Westminster Abbey (and he now has a pretty scroll to prove it), but is the 30th anniversary of the Channel Tunnel’s formal opening and the 70th of Roger Bannister breaking the four-minute mile.

Before the week is out, it will also be another significant anniversary (at least to me): my birth. This will be celebrated by my finally getting to see Nye at London’s National Theatre (as endorsed by my employer) with supper at the (equally eagerly anticipated) theatre restaurant Lasdun. If you don’t believe me on that last point, read this persuasive review from the world’s most eloquent food critic (IMHO) Tim Hayward.

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How do you intend to spend the week ahead, and what are your priorities? Email me at jonathan.moules@ft.com or, if you are reading this from your inbox, hit reply.

Key economic and company reports

Here is a more complete list of what to expect in terms of company reports and economic data this week.

Monday

  • China, EU, France, Germany, India: Caixin/HCOB/HSBC April services purchasing managers’ survey (PMI) data

  • Japan/South Korea: Children’s Day. Financial markets closed

  • UK/Ireland: May Day bank holiday. Financial markets closed

  • Results: BioNTech Q1, Tyson Foods Q2, Westpac HY

Tuesday

  • Apple hosts a product launch event called Let Loose with the usual secrecy around the device being unveiled, though many expect a new iPad tablet

  • Australia: Reserve Bank of Australia monetary policy decision

  • Germany: March industrial orders and foreign trade figures

  • Japan: April services PMI data

  • UK: BRC-KPMG Retail Sales Monitor and Halifax House Price index

  • Results: Adecco Q1, ANZ HY, Bouygues Q1, BP Q1, Deutsche Post Q1, Electronic Arts Q4, Geberit Q1, Heidelberg Materials Q1, IAC Q1, Infineon Technologies Q2, IWG Q1, Kenvue Q1, Lyft Q1, Nintendo FY, Reddit Q1, Ricoh FY, Saudi Aramco Q1, UBS Q1, UniCredit Q1, Walt Disney Co Q2

Wednesday

  • US Federal Reserve’s Exploring Careers in Economics event in Washington. Speakers include Fed board vice-chair Philip Jefferson

  • Brazil: Banco Central do Brasil Monetary Policy Committee (Copom) rate-setting decision announced

  • Germany: March industrial production

  • Results: Ahold Delhaize Q1, Airbnb Q1, Alliance Pharma FY, Alstom FY, Anheuser-Busch InBev Q1, Bertelsmann Q1, Boohoo FY, BMW Q1, Continental Q1, Fox Corp Q3, Henkel Q1, Itochu FY, Match Q1, OSB Q1 trading update, Puma Q1, Renishaw trading update, Skanska Q1, Toyota FY, Tripadvisor Q1, Uber Q1, Wetherspoon trading update

Thursday

  • China: April trade balance figures

  • Russia: Victory Day. Financial markets closed

  • UK: Bank of England’s Monetary Policy Committee rate-setting decision. Later, the bank will host a virtual Q&A with its chief economist Huw Pill on its latest Monetary Policy Report. Register here. Also, Rics Residential Market Survey and REC-KPMG Jobs Report

  • Results: 3i FY, Asahi Kasei FY, Balfour Beatty AGM trading update, Enel Q1, Ferrovial Q1, ITV Q1 trading update, Nikon FY, Nippon Steel FY, Nissan FY, Panasonic FY, Telefónica Q1, Warner Bros Discovery Q1, Wood Q1 trading update and AGM

Friday

  • Indonesia: Ascension of Jesus Christ holiday. Financial markets closed

  • Eurozone: European Central Bank publishes its last monetary policy meeting minutes

  • Japan: March trade balance figures

  • UK: preliminary Q1 GDP estimate

  • US: University of Michigan May consumer sentiment survey

  • Results: CRH Q1, Honda FY, KDDI FY, IAG Q1, Iveco Q1, Mazda FY, NTT FY, Tata Motors FY

World events

Finally, here is a rundown of other events and milestones this week.

Monday

  • Chad: presidential election first round, with a run-off vote on June 22 if required, the result of constitutional changes approved in a referendum last year

  • France: Chinese President Xi Jinping travels to Paris where he will meet French President Emmanuel Macron and European Commission head Ursula von der Leyen for a state visit

  • Israel: Holocaust Martyrs’ and Heroes’ Remembrance Day aka Yom HaShoah.

  • Panama: winner in the presidential election expected to be announced, after one of the most unusual campaigns since democracy was restored after a US invasion in 1989

  • UK: deadline for candidates to register in the Scottish National party’s leadership contest following the chaotic departure of Humza Yousaf

  • US: 108th annual Pulitzer Prize winners and nominated finalists announced online for prizes in journalism, drama, letters and music. Separately, the Costume Institute Benefit, aka the Met Gala, is held in New York. Here are what attendees wore last year to the fashion industry’s big night out

Tuesday

Wednesday

  • North Macedonia: parliamentary elections and presidential election run-off

  • UK: Prince Harry attends the Invictus Games 10th anniversary service at St Paul’s Cathedral in London

Thursday

  • EU: Europe Day, marking the 1960 declaration issued by Robert Schuman proposing a European continent united in solidarity

  • Russia: military parade in Red Square, Moscow, to mark the second world war victory day

  • UK: City of London Corporation’s Easter Banquet for the Diplomatic Corps, with a speech by foreign secretary Lord David Cameron

Friday

  • Iran: parliamentary election run-off

  • UK: Christopher Berry and Christopher Cash appear in court in London accused of spying for China

Saturday

  • Sweden: Eurovision Song Contest, hosted by last year’s winning nation

  • US: Republican presidential candidate Donald Trump stages a campaign rally in Wildwood, New Jersey

Sunday

  • Lithuania: presidential election

  • Spain: Catalonia regional parliamentary elections

  • UK: Bafta TV Awards held at London’s Royal Festival Hall

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Video: Airports Struggle to Staff T.S.A. During Partial Government Shutdown

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Video: Airports Struggle to Staff T.S.A. During Partial Government Shutdown

new video loaded: Airports Struggle to Staff T.S.A. During Partial Government Shutdown

Screening delays come as spring break travel is ramping up and as Transportation Security Administration workers are going without pay for the second time in six months because of the partial government shutdown.

March 8, 2026

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Video appears to show U.S. cruise missile striking Iranian school compound

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Video appears to show U.S. cruise missile striking Iranian school compound

Screenshots of a cruise missile hitting a compound where an Iranian girl’s school was struck killing around 175.

Screenshots by Geoff Brumfiel for NPR/ Mehr News on X


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Screenshots by Geoff Brumfiel for NPR/ Mehr News on X

A new video released by Iranian state media shows what appears to be a U.S. cruise missile striking a compound where around 175 Iranian students and staff were killed at a girl’s school a little over a week ago.

The seven-second video was posted by Mehr News, an Iranian state news agency. It shows the missile slamming into a building inside a walled compound – likely a health clinic that was also inside the perimeter of what was at one point an Iranian Revolutionary Guard naval base.

The strike appears to have taken place shortly after the girl’s school was hit. In the new video, smoke is already visibly rising from the part of the compound where the school was located. State media reports put the death toll from the bombing at somewhere between 165 and 180, many of them students.

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Although the quality of the video makes precisely identifying the munition difficult, the missile appears consistent with a Tomahawk cruise missile, according to Jeffrey Lewis, a professor of global security at Middlebury College. The U.S. is the only country known to have Tomahawk missiles, and U.S. officials say the military was operating in the south of the country at the time of the strike.

“The first shooters at sea were Tomahawks unleashed by the United States Navy,” Gen. Dan Caine, the chairman of the Joint Chiefs of Staff said in a press conference on the Monday after the strike.

Speaking aboard Air Force One on Saturday, President Trump accused Iran of being responsible for the school bombing.

“Based on what I’ve seen, I think it was done by Iran,” Trump said. “Because they’re very, inaccurate as you know, with their munitions. They have no accuracy whatsoever. It was done by Iran.”

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Lewis, however, said that the missile in the video did not appear to be consistent with known, Iranian-made cruise missile designs.

NPR was able to verify the location of where the video was shot to a housing development under construction across the street from the compound. Numerous details, including the sign at the clinic entrance, matched known details about the compound where the school was located. The video was first geolocated by the online research group Bellingcat.

The short video appeared to be authentic. While AI-generated videos have been posted online during the latest conflict with Iran, they typically do not contain details of a specific location, unless it is already well known, like a major landmark. Many also contain errors in physics or other inaccuracies when showing a missile or rocket attack.

The Pentagon did not immediately respond to NPR’s request for a comment about the video.

NPR was the first to report on satellite imagery from the company Planet that suggested multiple buildings, including the clinic, were hit in what appeared to be a precision strike that resulted in the deaths at the school. In total, seven buildings were hit in the strike on the complex, which at one point had been an Iranian Revolutionary Guard (IRGC) naval base.

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The base, located in the southeastern city of Minab, appeared to be a relatively minor facility. NPR was able to find one video shot at the base during a 2010 military exercise that showed members of the Iranian Revolutionary Guard flying an Ababil-3 drone from an airfield directly across from the compound.

But historic satellite imagery showed little activity at the airfield in the years following that demonstration. NBC News has reported that local officials say the base was abandoned for over a decade, but NPR has not been able to independently verify those claims.

The school was separated from the compound by a wall between 2013 and 2016, according to satellite imagery. Satellite imagery also shows the airstrip was removed in 2024. Online posts from a local construction firm and verified by NPR show the land where the runway once stood was being turned into a housing development. The clinic was walled off between 2023 and 2024, and opened in 2025, according to a local press report from Fars News Agency-Hormozgan, reviewed by NPR.

The opening indicated that the site still had ties to the Iranian Revolutionary Guard. According to the reports, the clinic was opened by IRGC chief Hossein Salami, who was killed in an Israeli strike later that year. A photo appeared to show Salami cutting a ribbon at the clinic.

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Lewis said that it’s possible the school and clinic were struck as a result of outdated targeting information.

Speaking beside Trump on Saturday, Defense Secretary Pete Hegseth said the U.S. was continuing to look into what happened at the school. “We’re certainly investigating,” he said. “But the only side that targets civilians is Iran.”

NPR’s RAD team contributed to this report.

Contact Geoff Brumfiel on Signal at gbrumfiel.13

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Iran’s new supreme leader has been selected, says deciding body

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Iran’s new supreme leader has been selected, says deciding body

The body in charge of selecting a new supreme leader for Iran says it has reached a decision – although the name was not immediately announced.

Israel has warned it would target any figure chosen to replace Ali Khamenei, who was killed in joint US-Israeli strikes on the first day of the war with Iran.

“The most suitable candidate, approved by the majority of the Assembly of Experts, has been determined,” Mohsen Heydari, a member of the selection body, said on Sunday, according to Iran’s ISNA news agency.

Another member, Mohammad Mehdi Mirbagheri, confirmed in a video carried by Iran’s Fars news agency that “a firm opinion reflecting the majority view has been reached”.

Ayatollah Mohsen Heidari Alekasir suggested the figure chosen to succeed the supreme leader would most probably be someone opposed by Washington.

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He said the “Great Satan” – Iran’s term for the US – had inadvertently done the assembly “a kind of service” by publicly criticising certain candidates. His remarks appeared to refer to comments by Donald Trump, who said it would be unacceptable for clerics to select Khamenei’s son Mojtaba as successor.

Mojtaba Khamenei, the deceased supreme leader’s son. Photograph: Office of the Iranian Supreme Leader/Reuters

“Someone opposed by the enemy is more likely to benefit Iran and Islam,” Heidari Alekasir said.

The Israeli military warned it would continue pursuing every successor of Iran’s late supreme leader. In a post on X in Farsi, the Israeli military also said it would pursue every person who sought to appoint a successor for Khamenei.

In recent days, Mojtaba Khamenei, 56, emerged as an early frontrunner. His appointment is far from certain as critics would view the move as entrenching a regime accused by rights groups of killing at least 7,000 people in recent months. In addition, a father-to-son succession is also frowned upon within Iran’s Shia clerical establishment, particularly in a republic born from the overthrow of a monarchy in 1979.

Under Iran’s constitution, the 88-member Assembly of Experts is responsible for selecting the country’s supreme leader. Khamenei, who ruled Iran for 37 years, was killed in a US-Israeli strike on Tehran on 28 February.

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The clerical meeting to appoint a new leader happened as fighting between Israel and Iran intensified over the weekend. Iranian strikes have hit energy infrastructure across the Gulf and Israeli attacks have targeted oil storage and fuel facilities inside Iran.

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A fresh wave of Iranian strikes hit the Gulf on Sunday, with Saudi Arabia, the United Arab Emirates, Qatar, Bahrain and Kuwait all reporting attacks. Saudi Arabia said it intercepted 15 drones, while strikes in Bahrain caused “material damage” to an important desalination plant.

According to reporting by the Washington Post, Fox News, and other US media organisations, Russia has been providing Iran with intelligence that could help it target US military assets in the region. The Guardian is unable to confirm this.

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Tehran oil sites on fire as Iran exchanges strikes with Israel and US – video report

The recent attacks on Gulf states appear to highlight a clash within Iran’s leadership, contradicting remarks made on Saturday by the president, Masoud Pezeshkian, who apologised to countries on the Arabian peninsula and suggested strikes against them would end, provided their airspace and US bases were not used against Iran.

According to analysts, Pezeshkian’s pledge not to strike Gulf states exposed rare public rifts within the ruling elite with Iran’s leadership showing signs of strain, as officials of the regime scrambled to explain and reinterpret the president’s words, which appeared to anger the country’s more conservative factions.

The Beirut hotel damaged in an Israeli airstrike that killed four people. Photograph: Wael Hamzeh/EPA

Nonetheless, the Iranian military continued striking the neighbouring countries.

Overnight, US and Israeli strikes hit five oil facilities around Tehran, an Iranian official said, adding that the sites were damaged but the resulting fires were brought under control. Explosions in the capital’s nearby city of Karaj reverberated across the region, and left the area under smoke. Fuel depots on the outskirts of Tehran were set ablaze early on Sunday as US and Israeli forces widened their campaign against Iranian infrastructure.

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The news agency Axios reported that the US and Israel had discussed sending special forces into Iran to secure its stockpile of highly enriched uranium at a later stage of the war, according to four sources with knowledge of the discussions.

Throughout the day, Iran launched intermittent barrages of ballistic missiles towards Tel Aviv and central Israel. At least one person was seriously injured after a residential building was hit, according to Magen David Adom, the country’s ambulance service. Most of the missiles were intercepted by Israeli air defences and caused no casualties.

Meanwhile, Israel’s war on multiple fronts continued, with the Israel Defense Forces launching intense strikes on Lebanon, where the Iran-backed armed group Hezbollah is based.

Israel’s assault on Lebanon left four people dead in a hotel blast in Beirut and killed a further 12 in strikes on southern areas of the country. Israel said it was targeting “key commanders” in the Iranian military’s Quds Force.

Lebanon’s health ministry said at least 339 people had been killed in the conflict. The Norwegian Refugee Council said about 300,000 people had fled their homes.

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AFP contributed to this report

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