Morning Briefing: May 13, 2026

Here’s a rundown of all the news you need to start your Wednesday, including US President Donald Trump flying to China with top executives, 4th junior minister in UK resigning, as British premier facing growing calls for resignation, Kuwait summoning Iranian ambassador to protest alleged "IRGC members" infiltration on Bubiyan Island, and a Pentagon official saying that Iran war has cost the US nearly $29 billion.

TOP STORIES

• Trump flies to China with top executives, including Musk, Nvidia's Jensen Huang

Tesla CEO Elon Musk is among a host of business executives traveling to China with President Donald Trump on Air Force One, as the US leader heads to Beijing for a summit with his Chinese counterpart Xi Jinping.

Fox News host Sean Hannity is also on board, while Nvidia CEO Jensen Huang, who had not been on the original guest list, boarded the plane as a last-minute addition during a refueling stopover in Anchorage, Alaska, according to a White House pool report.

The US president also named a number of other executives joining him on the official trip, including Apple's Tim Cook, BlackRock's Larry Fink, Blackstone's Stephen Schwarzman, Boeing's Kelly Ortberg, Cargill's Brian Sikes, Citigroup's Jane Fraser, GE Aerospace's Larry Culp, Goldman Sachs' David Solomon, Micron's Sanjay Mehrotra, and Qualcomm's Cristiano Amon.

The visit, from May 13-15, is the first by a US president to China since 2017 and was originally planned for April before being postponed due to the US-Israeli war against Iran.

• 4th junior minister in UK resigns, as British premier faces growing calls for resignation

Zubir Ahmed on Tuesday resigned as health innovation and safety minister, becoming the fourth junior minister to step down, as Prime Minister Keir Starmer faces calls for resignation after an electoral setback.

"I now ask you for the sake of that urgency and that national duty, to step aside and set a timetable for an expedient and orderly transition to new leadership that commands the confidence of our country," Ahmed said in his resignation letter.

He becomes the fourth junior minister from the government to resign after Alex Davies-Jones stepped down as minister for victims & violence against women and girls, Miatta Fahnbulleh as communities minister, and Jess Phillips as safeguarding minister earlier on Tuesday.

The resignations came as some 90 Labour MPs urged the prime minister either to step down immediately or to draw up a timeline for leaving office.

• Kuwait summons Iranian ambassador to protest alleged 'IRGC members' infiltration on Bubiyan Island

Kuwait summoned the Iranian ambassador on Tuesday to protest the alleged infiltration of members of the Islamic Revolutionary Guard Corps (IRGC) to Bubiyan Island, where they clashed with Kuwaiti forces.

The Kuwaiti Foreign Ministry said in a statement that Deputy Foreign Minister Hamad Suleiman al-Mashaan handed Iranian Ambassador Mohammad Totonji a formal protest note over an “armed infiltration” by IRGC elements.

The ministry condemned the incident as a “hostile act,” calling on Iran to immediately and unconditionally halt such actions.

Iran on Tuesday rejected Kuwait’s allegations regarding an alleged infiltration attempt, calling the claims “baseless.”

• Cost of war with Iran 'closer' to $29B: Pentagon official

A Pentagon official said Tuesday that the war with Iran has cost the US nearly $29 billion since it started on Feb. 28.

"So at the time of testimony from the ask, it was $25 billion but the joint staff team and the comptroller team are constantly looking at that estimate, and so now we think it’s closer to 29 (billion),” Jules Jay Hurst, defense undersecretary comptroller and chief financial official, said during testimony before a House Appropriations subcommittee.

"That’s because of updated repair and replacement of equipment cost and also just general operational costs keep people in theater," he added.

During a hearing on April 29, Hurst said the US spent approximately $25 billion on the war against Iran.

NEWS IN BRIEF

• US President Trump said Tuesday that he will hold extensive discussions with Chinese President Xi about Iran during their two-day summit.
• Iran’s Deputy Foreign Minister Kazem Gharibabadi said Tuesday that ending the war, lifting the blockade, and removing sanctions are the “minimum requirements” for any serious peace arrangement, accusing Washington of pursuing pressure rather than diplomacy.
• Peruvian prosecutors have requested a prison sentence of five years and four months for presidential candidate Roberto Sanchez, accusing the frontrunner of financial irregularities and making false administrative statements just weeks before a runoff election.
• US Ambassador to Tel Aviv Mike Huckabee said Tuesday that Israel sent Iron Dome anti-missile batteries and personnel to the United Arab Emirates (UAE) during the Iran war.
• Trump strongly criticized critical media coverage of his stalled war against Iran on Tuesday, claiming the stories are "virtual treason."
• The UK will deploy drones, Typhoon fighter jets, and the Royal Navy warship HMS Dragon as part of a future multinational mission to secure the Strait of Hormuz, the UK Defense Ministry said on Tuesday.
• Trump vowed Tuesday that Washington will secure the release of all remaining political prisoners in Venezuela, claiming that the South American country is already experiencing an economic and political transformation.
• Iran on Tuesday rejected Kuwait’s allegations regarding an alleged infiltration attempt by members of the Islamic Revolutionary Guard Corps (IRGC), calling the claims “baseless.”
• Eleven African countries have joined a France- and Mexico-led initiative aimed at limiting the use of the veto at the UN Security Council in cases involving mass atrocities, French Foreign Minister Jean-Noel Barrot said on Tuesday.
• The Trump administration is considering launching a renewed military campaign against Iran under a different operational name, including "Operation Sledgehammer," if the fragile ceasefire collapses, according to a report on Tuesday.
• Belgian Defense Minister Theo Francken on Tuesday hailed Türkiye becoming a maritime power while the world focuses on the naval arms race between China and the US.
• The Lebanese army said Tuesday that one of its soldiers was killed in an Israeli airstrike targeting southern Lebanon despite a ceasefire.
• The CIA has escalated secret operations inside Mexico, directly participating in deadly targeted strikes against cartel members as part of an expanded counter-cartel campaign, according to a report Tuesday.
• Suspected Allied Democratic Forces (ADF) fighters have carried out deadly attacks across eastern Democratic Republic of Congo’s Ituri province, killing at least 879 civilians since January, a lawmaker said Tuesday, highlighting a worsening humanitarian crisis amid ongoing insecurity.
• Rhun ap Iorwerth became Wales' first minister after his appointment was confirmed by a plenary vote in the Senedd on Tuesday, as Plaid Cymru ended Labour Party rule in last week's election.
• Biological samples from a 25-year-old Italian man who was showing suspected hantavirus symptoms were sent to a hospital in Rome on Tuesday, according to the ANSA news agency.
• The US military said Tuesday that dozens of commercial vessels attempting to enter or leave Iranian ports have been redirected as Washington continues enforcing a naval blockade against Iran.

BUSINESS & ECONOMY

• US inflation hits 2-year high in April, reaching 3.8%

The annual inflation rate in the US hit the highest level in April since May 2023, reaching 3.8%, official figures showed on Tuesday.

The market expectation was at 3.7% for the month of April, while the March figure was at 3.3%.

Year-on-year, energy prices jumped by 17.9% in the country last month, while food and shelter prices rose 3.2% and 3.3%, respectively. On a monthly basis, consumer prices hiked by 0.6% in April.

• Russia sharply lowers 2026 growth forecast to 0.4%

Russia has lowered its economic growth forecast for 2026 to 0.4% from a previous estimate of 1.3%, Deputy Prime Minister Alexander Novak said.

Speaking in an interview published by the Russian government, Novak said authorities expect the country’s gross domestic product to maintain positive momentum this year despite a slowdown in economic activity.

“We expect that in 2026 it will be possible to maintain positive GDP dynamics at 0.4%,” Novak said, adding that growth is projected to recover to 1.4% in 2027 and reach 2.4% by 2029.