Edition · Tuesday, 26 May 2026
What happened, the forces beneath it, why it matters — then your turn.
01 · Briefing · what happened
US strikes Iran during peace talks as oil tops $100 and diplomats dig in
The US military hit missile sites and mine-laying boats in southern Iran on Monday — the first strikes since a ceasefire took hold in early April — killing four Iranian soldiers and pushing oil back above $100 a barrel. Iran condemned the attack but kept its negotiators in Doha, where talks on a framework deal to reopen the Strait of Hormuz continued. Meanwhile Russia threatened systematic strikes on Kyiv and demanded foreign diplomats leave, drawing sharp rebukes from the EU and UN.
Read the full briefing
02 · Lesson · why it matters
Bank lending to UK businesses falls to lowest level in nearly 30 years - Financial Times
UK business lending at a 30-year low touches every person who works, starts a business, or depends on jobs that come from credit. We can teach how banks actually decide to lend, what makes credit dry up, and why money availability shapes the economy ordinary people live in.
Read the lesson
03 · Lab · your turn
Capital Requirements and Credit Rationing
When regulators require lenders to hold more reserves per loan, the cost of lending rises—not in interest rates borrowers see, but in capital the lender must lock away—making some borrower types unprofitable to serve even when they can repay.
Rehearse the decision