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US inflation jumps, though long-term war impact yet to be seen Hospitals consider replacing some radiologists with AI Amazon takes a jab at Nvidia over chips shift VCs step in to fund university upstarts Exclusive: Anthropic is gaining on OpenAI’s revenue, but hasn’t yet eclipsed it Exclusive: AI powerhouses threaten data processing firms A South African artist is changing the way viewers understand Picasso’s Guernica Airbnb faces familiar battle in Cape Town First look at war-related inflation sparks political jostling View: China’s state businesses are reshaping markets in Africa US issues Nigeria travel warning over terrorism, kidnapping FirstRand exits UK business after regulatory hit Afreximbank’s $800M answer to Fitch Exclusive: Navy takes nuclear-powered sub offline after $800 million cost run-up Cuba leader says he will not step down Fed, Treasury summon Wall Street chiefs over AI fears How Bluesky earned its reputation — and why it could be the way of the future China eyes stronger Taiwan influence Orbán slams Hungary’s opposition as he trails in polls Iran war reshapes air travel, perhaps for the long term Tehran residents embrace calm amid tenuous truce Countries lack fiscal capacity to handle war fallout Higher producer prices ease China deflation fears Trump ‘optimistic’ on Iran peace talks Inside the five-year succession plan at a $130B warehouse giant Georges Elhedery on HSBC’s big bets on the Gulf and Asia Warsh’s Fed hearing slips past next week Moore takes on the Sun’s ‘MAGA billionaire’ and more Debatable: AI titans influencing regulation Americans still think taxes are too high, poll finds
Trump says Iran truce is on ‘life support’
J.D. Capelou · 2026-05-12 · via Semafor

US President Donald Trump said Washington’s ceasefire with Tehran is on “massive life support,” a day after he rejected Iran’s terms for ending the war and reopening the Strait of Hormuz.

Oil prices ticked back up on Monday as the countries’ standoff deepened; both sides have signaled they are dug in on their stances.

It’s unclear whether Trump would resume military attacks on Iran, though the US Navy advertised the arrival of a nuclear-armed submarine near the Mediterranean, widely interpreted as a warning to Tehran.

As concerns over global energy supply ballooned, Trump on Monday backed suspending the federal gas tax to ease the strain on Americans’ wallets at the pump.