5 Big News Stories Overnight - Tuesday, April 7, 2026

Iran: Trump Promises Devastation

New York Times reports:

President Trump on Monday escalated his threats to devastate Iran if it does not agree to a deal to reopen the Strait of Hormuz by his Tuesday night deadline, even as he again floated the possibility that there could be a diplomatic resolution to the war.

“We have a plan, because of the power of our military, where every bridge in Iran will be decimated by 12 o’clock tomorrow night, where every power plant in Iran will be out of business, burning, exploding and never to be used again,” Mr. Trump said at a White House news conference. If the attacks take place, he added, “It will take them 100 years to rebuild.”

U.S.: Dimon Warns About the Economy

The Guardian reports:

The head of the US’s largest bank has pressed the White House to strengthen Washington’s allies economically in order to “avoid truly adverse consequences”, in the latest intervention in an increasingly testy relationship with the Trump administration.

As the Middle East conflict sparked by US and Israeli attacks on Iran enters its sixth week, Jamie Dimon, the chair and chief executive of JP Morgan Chase, said in his annual letter to shareholders that good US foreign policy should put America first “though not alone”.

His remarks appear certain to be viewed as critical of Donald Trump, who in January announced he was suing the banker and the Wall Street institution for at least $5bn (£3.8bn) after accusing them of debanking him.

PHoTO: Global Financial Context CC 2.0
 

United Kingdom: Dead people given £850m in benefits blunders

The Telegraph reports:

Hundreds of millions of pounds in benefits have been given to dead people in a blunder uncovered by The Telegraph.

In a costly overpayment failure, the Department for Work and Pensions (DWP) paid out £850m in benefits to claimants after they had died.

It is not known which benefits were overpaid, but it is thought the 2.6 million errors since 2021 could be related to a mix of mental health and out-of-work benefits, state pension payments and others.

Pat McFadden, the Secretary of State for Work and Pensions, has an obligation to protect public money and recover overpayments wherever possible.

Yet less than half the £850m has been recovered – adding millions to Britain’s spiralling benefits bill, which costs taxpayers about £300bn each year.

U.S.: Michigan Wins National Championship

No. 1 Michigan defeated No. 2 UConn 69-63 to win the National title — and denied the Huskies’ dynasty in the process.

This was Michigan's first championship since 1989.

U.S.: Fight Over Data Centers

Wall Street Journal reports:

Maine looks poised to become the first state to freeze building of new data centers with legislation that could pass this spring, but community backlash against these properties is spreading across the country. Lawmakers in more than 10 states have proposed temporary bans on data-center construction this year. Dozens of county and city governments have already passed such measures.