Morning Briefing: May 9, 2026

Here's a rundown of all the news you need to start your Saturday, including US President Donald Trump announcing a three-day ceasefire between Russia and Ukraine alongside a major prisoner exchange; Washington saying it expects Iran’s response today on renewed negotiations while warning about the Strait of Hormuz; and British Prime Minister Keir Starmer vowing to remain in office after Labour lost ground in England’s local elections as Reform UK surged ahead.

TOP STORIES

• Trump announces 3-day ceasefire in Russia-Ukraine war

US President Donald Trump announced Friday that Russia and Ukraine have agreed to a temporary three-day ceasefire and a large prisoner exchange, saying talks are continuing to end the war and that the sides are “getting closer every day,” according to a post on his Truth Social platform.

The ceasefire is set for May 9-11. It will include a suspension of all military activity, as well as a reciprocal exchange of 1,000 prisoners from each side, marking what Trump described as a potential step toward ending the conflict.

• US says it expects Iran's response today on negotiations

US Secretary of State Marco Rubio said Friday that Washington expects a response from Iran on renewed talks over the ongoing conflict, adding that the US “should know something today” and is awaiting clarity on whether it can enter a “serious process of negotiation,” according to remarks made in Rome.

Speaking to reporters after meeting Italian Prime Minister Giorgia Meloni, Rubio also warned against any move by Iran to control the Strait of Hormuz, calling such a step “problematic and unacceptable,” and urged other countries not to normalize such actions.

• Starmer vows to stay on after Labor loses ground in English local elections

British Prime Minister Keir Starmer said Friday he will not step down after early results from England’s local elections showed Labor losing support. At the same time, Reform UK made significant gains, saying it intends to see through its five-year mandate.

Speaking to reporters, Starmer rejected calls to resign, saying he would not “walk away and plunge the country into chaos,” and reaffirmed his intention to contest the next general election, adding: “It was a five-year term I was elected to do, I intend to see that through.”

NEWS IN BRIEF

• US President Donald Trump threatened Friday to resume and expand a paused “Project Freedom” military operation targeting the Strait of Hormuz if a deal with Iran is not finalized, warning Washington would “go a different route” if negotiations are not “signed up and buttoned up,” according to remarks at the White House.
• Cuba’s foreign minister warned that US policy toward Havana risks leading to a “bloodbath” if tensions escalate further, saying the country would respond with “legitimate defense to the very last consequences” if attacked, amid stalled talks between the two sides.
• The World Food Program warned that Somalia is facing a worsening hunger crisis, with 6.5 million people experiencing crisis-level food insecurity and 2 million facing emergency hunger, as drought, conflict, and funding shortages drive acute malnutrition among children.
• France is sending its ambassador back to Algeria in an effort to restore diplomatic relations and restart “effective dialogue” following last year’s crisis that led to the envoy’s recall, according to the French presidency.
• Three empty Iranian cargo tankers crossed a US Navy blockade line over the past two days after returning toward Iran via Pakistan’s Exclusive Economic Zone, maritime tracker TankerTrackers said, noting the vessels have a combined capacity of 5 million barrels.
• A measles outbreak in Bangladesh has killed 336 children since mid-March, including 12 deaths reported, with infections surpassing 51,700 nationwide as health officials struggle with testing shortages, according to official data.
• Satellite imagery shows suspected large oil slicks near Iran’s Kharg Island, the country’s main oil export terminal, with European Copernicus data indicating possible leaks spreading west and southwest of the facility, according to reports citing imagery from May 6–8.
• The US Treasury Department imposed sanctions on 10 individuals and companies, including entities in China and Hong Kong, over allegations they helped Iran procure components for drones and ballistic missile programs, according to an official statement Friday.
• The United Arab Emirates said its air defenses intercepted two ballistic missiles and three drones launched from Iran, reporting three moderate injuries and stating that hundreds of missiles and thousands of drones have been intercepted since late February.
• The US military said it struck a vessel in the Eastern Pacific Ocean suspected of narcotics trafficking, killing two alleged narco-terrorists as part of operations targeting drug routes linked to designated groups.
• Iranian officials reported that five sailors were missing and 10 injured after a US strike hit a civilian cargo vessel near the Strait of Hormuz and the Gulf of Oman, with the ship catching fire in the strategic waterway, according to Iranian media.
• At least 21 people were killed in Israeli strikes on southern Lebanon despite an ongoing ceasefire, according to Lebanese state media, as air raids continued in the Tyre district and other southern areas.
• The US Centers for Disease Control and Prevention activated its Emergency Operations Center at “Level 3” in response to a hantavirus outbreak aboard the MV Hondius cruise ship, saying the risk to the public remains low, but monitoring is ongoing.
• The Palestine International Marathon resumed in Bethlehem and Gaza after a two-year pause caused by the war in the Gaza Strip, drawing more than 13,000 participants, including thousands of runners and international athletes.

BUSINESS & ECONOMY

• Global food prices rise for 3rd straight month amid Hormuz disruptions

World food prices increased for a third consecutive month in April, with the UN Food and Agriculture Organization (FAO) reporting a 1.6% monthly rise in its Food Price Index to 130.7 points, driven by higher vegetable oil, cereal and rice prices alongside elevated energy costs linked to disruptions in the Strait of Hormuz.

The FAO said vegetable oil prices surged 5.9% to their highest level since July 2022, while meat prices hit a new record high, as increased transport and production costs fed through global agri-food markets amid ongoing conflict-related supply chain pressures.

• UAE Gulf Marine Services profit falls 24% after Gulf war disrupts vessel operations

UAE-based Gulf Marine Services reported a 24% drop in first-quarter 2026 earnings after the war in the Gulf region forced the evacuation of four vessels from an unnamed GCC country, disrupting offshore operations, the company said.

The London-listed firm said EBITDA fell to $19.5 million in the three months ending March 31, while revenue declined 10% to $38 million and vessel utilization slipped to 74%, down from 89% a year earlier amid the operational disruptions.

• Turkish firms sign nearly $8B in export contracts at SAHA 2026 defense expo

Turkish companies signed nearly $8 billion in export contracts in the first three days of the SAHA 2026 International Defense and Aerospace Exhibition, the event’s organizer said Friday, describing the figure as a record performance for the country’s defense industry.

SAHA Istanbul Chairman Haluk Bayraktar said firms achieved a “historic record” during the opening days of the expo, congratulating participating companies for the strong export momentum reported at the defense and aerospace event.