Main by morning: U.S. and Iran in stalemate, Anthropic will notify central banks of cyber risks
Anthropic will tell G20 central banks and finance ministries about cyber threats to the global financial system detected by its Mythos AI model, the FT has learned / Photo: PhotoGranary02 / Shutterstock
The US and Iran remain far from an agreement to end the war and open the Strait of Hormuz, with US President Donald Trump saying "time is running out" for Tehran. Brent topped $111 a barrel amid the threat of more supply disruptions. About these and other topics - in our review of key events for the morning of Ma 18.
U.S. and Iran deadlock over Strait of Hormuz, oil tops $111
The U.S. and Iran remain far from a deal to end the war and open the Strait of Hormuz, Bloomberg reports. Donald Trump said that "time is running out," and Iranian media reported that Washington is demanding the transfer of uranium related to Tehran's nuclear program to the United States.
Fears over the protracted conflict intensified the sell-off in debt markets: the yield on 30-year US government bonds reached the highest level in almost three years, Brent exceeded $111 per barrel. Since the start of the war, oil prices have jumped by 35%.
Global businesses lost $25 billion due to the US-Iran war
The U.S. and Israel's war with Iran has already cost global companies at least $25 billion, Reuters has calculated. Businesses are facing rising oil prices, supply disruptions and higher logistics costs due to the situation around the Strait of Hormuz.
Airlines warned of nearly $15 billion in additional fuel costs, and Toyota estimated the possible hit at $4.3 billion. Companies began raising prices, cutting production and revising profit forecasts.
Anthropic to notify central banks of Mythos cyber risks to the global financial system
Anthropic will discuss with members of the Financial Stability Board the cyber threats to the global financial system, which the new Mythos AI model has revealed, the Financial Times reports, citing sources. According to the FT, the company believes that the development of AI could expose the vulnerabilities of banks and other financial institutions.
The Financial Stability Board (FSB) is an international body established by the G20 countries to monitor the global financial system and coordinate the work of national financial regulators.
EU wants to oblige businesses to diversify suppliers because of dependence on China
The European Union is preparing rules that will oblige European companies to buy critical components from at least three different suppliers, the Financial Times reports, citing sources. The measure is aimed at reducing the EU's dependence on China.
The new requirements may affect companies in the chemical and industrial engineering sectors.
What's in the markets
- Japan's broad Topix index was down 0.8 percent on May 18, while the Nikkei 225 was down 0.8 percent.
- Hong Kong's Hang Seng index was down 1.2 percent, while mainland China's CSI 300 index was down 0.5 percent.
- In South Korea, the Kospi index was up 0.4% and the Kosdaq was up 2%.
- Australia's S&P/ASX 200 was down 1.4 percent.
- Futures on the S&P 500 were falling by 0.6%. Futures on Nasdaq Composite - by 0.5%. Exchange contracts on Dow Jones Industrial Average - by 0.8%.
This article was AI-translated and verified by a human editor
