The Cable®

🚨: French Power Prices Jump as Hot Weather Raises Nuclear Concerns French power prices soared on concerns that extreme summer heat will force nuclear reactor curtailments and reduce hydroelectric output. Month-ahead prices jumped as much as 11.7% to the highest level since late March, according to EEX data. Past heatwaves have forced France to shut or limit nuclear plants when river water used for cooling becomes too warm, a risk heightened by current forecasts.

🚨Breaking : Pentagon Clashes with SpaceX Over Starlink Price Hike During Iran War The Pentagon is in dispute with SpaceX over sharp price increases for Starlink/Starshield services used in military operations against Iran, Reuters reported. SpaceX argued the US military was underpaying for high-tier service on LUCAS kamikaze drones, pushing fees from around $5,000 to $25,000 per terminal per month. The Pentagon ultimately agreed to the hike, nearly doubling the cost per drone unit, despite objections that drone usage did not justify aviation-tier pricing. Tensions also exist over proposed high-cost direct-to-cell Starlink service for Iranian civilians to bypass government blackouts. The disputes highlight the Pentagon’s heavy reliance on Starlink amid the ongoing conflict.

🚨Breaking : Court Rules Goodluck Jonathan Eligible to Contest 2027 Presidential Election A Federal High Court in Abuja has dismissed a suit challenging former President Goodluck Jonathan’s eligibility to contest the 2027 presidential election. Justice Peter Lifu ruled that plaintiff Johnmary Jideobi lacked the legal standing (locus standi) to file the case, as he suffered no personal loss from Jonathan’s potential candidacy. The court awarded N20 million costs against the plaintiff in favour of Jonathan and N1 million in favour of the Attorney-General of the Federation. The judge relied on previous rulings by higher courts affirming Jonathan’s eligibility, describing the suit as an abuse of court process. Jonathan served as president from 2010 (completing Yar’Adua’s term) and was elected in 2011.

🚨: UK Shop Price Inflation Picks Up to 1.2% in May, Retailers Urge Government Action British shop price inflation accelerated to 1.2% year-on-year in May from 1.0% in April, driven by higher energy costs and supply disruptions from the Iran war, according to the British Retail Consortium (BRC). Food price inflation eased to 2.7%, its lowest in a year, but furniture, health and beauty products saw the sharpest rises due to higher raw material and shipping costs. BRC Chief Executive Helen Dickinson called on the government to reduce energy taxes and levies, and cut red tape to help control costs for retailers. This comes as official UK consumer price inflation is forecast to rise toward 4% in coming months due to the energy shock.

⚡Just In: Iran’s Khamenei Declares New Middle East Order: US Bases No Longer Safe Iran’s Supreme Leader Mojtaba Khamenei said the Middle East has undergone irreversible change after the recent war, declaring that US military bases in the region will no longer be safe. In a written statement marking the Islamic Hajj pilgrimage, Khamenei claimed victory over the “US-Israeli alliance” and stated: “The clock cannot be turned back; the nations and lands of the region will no longer be a shield for American bases.” The remarks come even as indirect talks between the US and Iran continue toward a potential deal to reopen the Strait of Hormuz.

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🚨: Japan Crude Oil Imports Set to Rebound in May After April Slump Japan’s crude oil imports are expected to rise to around 1.7 million barrels per day in May, a rebound from April’s slump, according to Bloomberg vessel-tracking data. The increase, which is roughly three-quarters of last year’s level, comes as refiners secure alternative supplies from the US and Saudi Arabia via the Red Sea, while the Strait of Hormuz remains largely closed amid regional tensions. The May estimate is likely to exceed the government’s outlook, with some cargoes possibly still being rerouted.

🚨Breaking : Bandit Leaders Killed in Internal Clash as Troops Neutralise Loyalists in Zamfara, Katsina Several suspected bandits were neutralised by Civilian Joint Task Force (CJTF) operatives in Keta community, Tsafe LGA of Zamfara State, during a clearance operation targeting fighters loyal to notorious commanders Kachalla Juli, Uti, and Ibrahim. In a separate incident in Tsarika village, Musawa LGA of Katsina State, two bandit leaders; Kachalla Liti and Kachalla Sani — were killed during a violent clash between rival factions. Security analyst Bakatsine described the deaths as a major blow to criminal networks in the region, expressing hope for continued division among bandit groups to restore peace in the North West.

🚨: Japan to Start EPA Trade Talks with Mercosur Japan will launch formal negotiations for an Economic Partnership Agreement (EPA) with Mercosur (Brazil, Argentina, Paraguay, Uruguay), Kyodo news reported. The announcement will be made during a bilateral summit between Japanese Prime Minister Sanae Takaichi and Brazilian President Lula da Silva on the sidelines of the G7 meetings in France next month. The move supports Mercosur’s efforts to strengthen trade ties with major Asian economies and helps Japan diversify its supply chains.

🚨Breaking : US Launches Fresh Strikes on Iran as Nuclear and Hormuz Talks Stall 
The United States conducted new defensive strikes on Iranian boats and missile sites in southern Iran on May 25-26, 2026, while diplomatic efforts to end the three-month-old conflict showed limited progress. U.S. Secretary of State Marco Rubio stated that a deal with Iran could take “a few days,” emphasizing the need to keep the Strait of Hormuz open. The strikes targeted threats to U.S. troops, including vessels attempting to lay mines. Talks in Doha involving Iranian officials focused on reopening the Strait of Hormuz, managing Iran’s highly enriched uranium stockpile, and potentially releasing frozen Iranian funds. However, Iran’s foreign ministry said a full agreement is not imminent, with nuclear issues to be addressed only after a broader framework is reached. President Donald Trump described the talks as going “nicely” but warned of further action if no deal is secured. The fragile ceasefire has been in place since early April, amid ongoing regional tensions including Israeli operations against Hezbollah.

🚨: Eid El Kabir: Nigerian Military Warns North-East Residents to Avoid Crowded Areas During Sallah Celebrations 
The Nigerian military has issued a strong security advisory to residents of the North-East region to avoid crowded areas during the upcoming Eid El Kabir (Sallah) celebrations due to heightened threats from terrorist groups. In a statement on May 26, 2026, Lieutenant Colonel Sani Uba, Media Information Officer of the Joint Task Force (North-East) Operation Hadin Kai, urged residents to remain vigilant, celebrate within their immediate communities, and conduct Eid prayers close to home while avoiding large gatherings where possible. Credible intelligence indicates that remnants of Boko Haram Terrorists (BHTs) and Islamic State West Africa Province (ISWAP) fighters may attempt to exploit the festive period with attacks involving suicide bombers and improvised explosive devices (IEDs) in densely populated areas such as markets, motor parks, banking halls, and prayer grounds. The Theatre Command has deployed extensive security measures, including forward-deployed troops, intensified patrols, surveillance assets, and coordination with sister agencies and community vigilance groups. Residents are encouraged to report suspicious movements immediately. The military assured the public that threats have been anticipated and forces are fully prepared to ensure a safe celebration period.

@qwofi_manuel Good morning! Let's grow together and create an active community.

Good morning from Accra. To my people in Lagos, good morning. To the diaspora in London, Toronto, Houston — good morning. We are all building the same thing from different time zones. Let's get it. #QwofiManuel #QMSBloc

⚡Trending : Palm Fruit Left to Rot as Indonesia’s Export Revamp Hits Small Farmers 
Indonesian palm oil refiners are shunning purchases from smallholders, leaving fresh fruit bunches to rot in plantations as the government’s new commodity export overhaul creates uncertainty. Several processors have halted buying from independent farmers while awaiting details on the radical export framework announced by President Prabowo Subianto earlier in May 2026. The policy aims to route key commodities including palm oil through a new state-controlled body to tighten oversight, boost revenues, and curb leakages. The disruption risks squeezing incomes for small growers, who form a major part of Indonesia’s palm oil sector, and could eventually crimp overall supplies of the world’s most-used vegetable oil. This comes amid broader market confusion, with spot cargoes trading at discounts even as futures prices fluctuate. The transition to the new system is expected to begin in June 2026, with full implementation later in the year.

⚡Trending : OpenAI CEO Sam Altman Says AI Unlikely to Trigger ‘Jobs Apocalypse’ 
OpenAI CEO Sam Altman stated on May 26, 2026, that artificial intelligence is unlikely to cause a global “jobs apocalypse,” admitting he had overestimated its near-term impact on white-collar employment. Speaking virtually at a Commonwealth Bank of Australia conference in Sydney, Altman said he was initially worried about widespread job losses, particularly at the entry level. However, he noted that AI has not eliminated as many such positions as he once feared, describing himself as “delighted to be wrong.” Altman attributed this to the irreplaceable “human part” of many jobs, emphasizing the value people place on personal interactions. He shared a personal example of using AI for Slack and email responses but reverting to handling them himself because recipients care about genuine human engagement. While acknowledging ongoing AI-driven job changes at companies like HSBC, Amazon, and CBA, Altman believes the overall employment picture will differ significantly from earlier pessimistic predictions.

⚡Trending : Danish Central Bank Warns of Housing Risks as Price Gains Spread Beyond Copenhagen 
Denmark’s central bank (Nationalbanken) has issued a fresh warning on financial stability risks as a sharp surge in Copenhagen home prices spreads to the rest of the country. In its latest financial stability report released on May 26, 2026, the bank highlighted growing risks to lenders from the rapid price increases. Apartment prices in the Danish capital soared 25% in the 12 months through April, according to Boligsiden data. The central bank had already flagged this potential spillover scenario late last year. The report notes that the housing boom, if unchecked, could increase vulnerabilities in the financial system through higher household debt and exposure for banks. This comes amid broader economic pressures in Denmark, with the central bank closely monitoring lending practices and the potential for a correction in the overheated property market.

🚨Breaking : Atiku Abubakar Wins ADC Presidential Primary in Zamfara with 60,500 Votes 
The Zamfara State chapter of the African Democratic Congress (ADC) has declared former Vice President Atiku Abubakar as the winner of its presidential primary held on May 26, 2026. Atiku polled a landslide 60,500 votes, defeating Mohammed Hayatuddeen (446 votes) and Rotimi Amaechi (191 votes). The primary was conducted across all 147 wards in the state’s 14 local government areas, with 63,484 registered party members and 61,137 votes cast. Namadi Musa, Chairman of the ADC Presidential Primary Election Committee and returning officer, announced the results in Gusau on Monday, declaring Atiku the party’s presidential candidate for Zamfara in line with ADC guidelines and the Electoral Act, 2026. The process was monitored by Independent National Electoral Commission (INEC) officials and described as peaceful. This marks an early victory for Atiku in the ongoing ADC presidential primaries ahead of the 2027 general elections.

🚨Breaking : Ethio Telecom Lists on Ethiopia’s Bourse in Nation’s Historic First IPO 
Ethio Telecom, Ethiopia’s state-owned telecommunications giant, officially listed on the country’s nascent stock exchange on May 26, 2026 — more than a year after closing its initial public offering (IPO). This marks Ethiopia’s first-ever IPO and a significant milestone for the East African nation’s efforts to develop its capital markets. The government had offered 100 million shares but sold just under 11% of the stock to investors, raising 3.2 billion Ethiopian birr (approximately $20 million). The modest uptake reflects a cautious response from local investors amid economic challenges, though the listing itself represents a foundational step for the Ethiopian Securities Exchange (ESX). The development follows the IPO launch in late 2024, which aimed to broaden ownership and attract capital to one of Africa’s oldest telecom operators. The listing comes as Ethiopia pushes to modernize its financial infrastructure and open up key state enterprises to private participation.

Today in History – May 26, 1967 Following consultations with leaders across the Eastern Region, General Chukwuemeka Odumegwu Ojukwu decreed the secession of the Eastern Region from Nigeria. This pivotal moment, driven by deep tensions, fears, and unresolved grievances following years of political crisis, marked a turning point that would lead to the formal declaration of the Republic of Biafra days later and the tragic Nigerian Civil War (1967–1970). It remains one of the most significant and painful chapters in Nigeria’s history; a story of ambition, division, loss, resilience, and the high cost of conflict. Over a million lives were lost, yet the spirit of survival and unity in the face of adversity continues to shape the nation today. History teaches us that dialogue, fairness, and understanding are vital to prevent division and build lasting peace. What lessons from this period do you think are most important for Nigeria and Africa today? Share your thoughts respectfully 👇 #TodayInHistory #OnThisDay #NigerianHistory #Biafra #UnityInDiversity

🚨Breaking : China, Pakistan Agree on Upgraded CPEC and Stronger Security Ties During Pakistani PM Shehbaz Sharif’s visit to Beijing, China and Pakistan reached a new broad consensus to accelerate the China-Pakistan Economic Corridor (CPEC), upgrade Gwadar port, and improve the Karakoram Highway. Both sides welcomed third-party participation in projects and committed to higher-quality infrastructure. Pakistan pledged enhanced security for Chinese personnel amid past attacks. The deal also covers regional issues, with Pakistan reaffirming support for the one-China policy and joint counter-terrorism efforts. The moves aim to deepen their “all-weather” partnership.

⚡Trending : Warning to Critical Minerals Buyers: Avoid “Butter Mountains” and Aluminium Floods Western governments pouring tens of billions into critical minerals to reduce reliance on China risk creating oversupply gluts, similar to historical cases like European “butter mountains,” Russian aluminium floods, and Australian wool surpluses in the 1980s-90s. The US has allocated over $20 billion, including $10 billion for stockpiles, while Australia has committed at least A$13 billion. Combined Western pledges to rare earths projects already exceed the sector’s current market value, with some rare earths expected to move into surplus soon. Industry experts urge better coordination to avoid flooding markets and crashing prices. While stockpiles currently pose limited risk, unchecked incentives could backfire despite efforts to secure supply chains for defence, EVs, and tech.