FirstFT: Iran’s president dies in helicopter crash

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According to reports coming in from state media, Ebrahim Raisi, the President of Iran has passed away due to a helicopter crash that occurred earlier this morning.

Yesterday, the president's helicopter went down in a secluded and hilly area of the north-west region of the nation, as reported by the Tasnim News Agency that has strong ties with the elite Revolutionary Guard. Numerous rescue teams worked hard for several hours to get to the spot where the crash occurred. Due to poor visibility and snow, the rescue operations were affected.

The group accompanying Raisi on the helicopter also included Hossein Amirabdollahian, who serves as Iran's foreign minister. Get the most recent news on this matter at this location.

Quick Take: According to Middle East editor Andrew England, the passing of Raisi, who was a key player in Ayatollah Ali Khamenei's efforts to solidify the power of conservative leaders, has hit the supreme leader and his Islamic government hard.

And these are the other things that I'm monitoring today:

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From The Week

Western officials have reported that the G7 allies have become more receptive to a plan proposed by the US government to swiftly provide assistance to Ukraine ahead of Donald Trump's potential return to the White House. The proposal entails providing Kyiv with an initial loan that would be supported by the potential profits that could arise from $350 billion worth of Russian assets in the future. The officials have suggested that there has been a change in attitude towards the plan.

The prime minister of Estonia reassured the Financial Times that the decision by NATO to send troops to Ukraine for training purposes will not pose a risk of involving the military alliance in a war with Russia.

In Ukraine, the steel plants are looking to hire more female workers because the men who previously held those jobs are now serving in the military. This means there are new opportunities for women to take on jobs that were historically male-dominated.

Mexico is exploring methods to increase the tax revenue it receives from its banking industry, which is predominantly controlled by Spanish and American banks. Authorities are seeking to counteract a predicted shortfall in funds due to the departure of current president, Andrés Manuel López Obrador. Among the proposals being considered for banks are limits on tax deductions and potentially imposing an additional tax on sudden profits. Click here for additional information.

During his recent visit to the Middle East, US National Security Adviser Jake Sullivan had discussions with top officials in Israel and Saudi Arabia. He urged Israel to embrace a political resolution for the Gaza conflict and a deal with Saudi Arabia to improve regional relations. Sullivan's fast-paced itinerary included talks with Crown Prince Mohammed bin Salman in Saudi Arabia on Saturday and a meeting with Israeli Prime Minister Benjamin Netanyahu on Sunday. Here are additional highlights of his trip.

There is trouble in the war cabinet: Benny Gantz, an opposition politician in Israel, is considering leaving the government if Netanyahu doesn't agree to a new strategy for dealing with Hamas and the consequences that follow by June 8th.

Taiwan has a new president who requested that Beijing collaborate with him to decrease the tensions between them. Lai Ching-te was inaugurated on Monday and during his speech, he asked China to halt their harmful language and military intimidation tactics. Furthermore, he urged Beijing to help Taiwan in globally preserving peace and stability, specifically in the Taiwan Strait and neighboring regions. More information about Lai's goals for Taiwan-China connections can be found at the provided link.

Environmental organizations intend to use recently established regulations regarding air pollution to put a stop to the building of natural gas terminals all across the United States. The regulations will mandate that the Federal Energy Regulatory Commission evaluate the effects of liquefied natural gas terminals on air quality. Since January, no new initiatives have been approved after the Department of Energy put on hold the issuance of new export licenses for terminals till it completed an evaluation of the approval procedure. For additional details about the fresh set of regulations, visit the provided link.

China and the United States consider Taiwan's location to be critical. China sees Taiwan and its surrounding islands as part of its territory, and wants to merge them with the mainland while pushing US military influence further from eastern Asia. After investing in their military for thirty years, China is now nearly capable of waging a war against Taiwan. The Financial Times has recognized five significant military battles that would determine the outcome of a conflict.

Slovaks are currently contemplating whether their prime minister, Robert Fico, will retaliate and solidify his control over the nation as he recuperates from a recent assassination attempt.

The tariffs implemented by Biden and Trump may appear similar, but Rana Foroohar notes that they actually have significant distinctions.

Many organizations are moving away from traditional working hours and seeking innovative methods to cooperate, making "This gathering could have been communicated via email" a fundamental principle for asynchronous work.

In the wake of the successful global corporate tax reform, Martin Sandbu believes that imposing a tax on billionaires worldwide is a feasible solution.

Are you looking for additional information on the current global economic policy discussions? Subscribe to Martin's Free Lunch newsletter if you are already a premium subscriber or increase your subscription level here.

Daily Chart Updates

According to the recent analysis of executive rankings by the FT, top business schools worldwide offer courses on environmental, social, and governance that are highly sought after. Coursalytics examined over 4,200 courses offered by 163 schools, providing information on various aspects such as subject, mode of teaching, cost, and more.

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"Pause The News: Relax And Unwind"

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Further inputs provided by Tee Zhuo and Benjamin Wilhelm.

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