BP has stripped Albert Manifold of his chair after a review flagged “serious concerns” about his conduct, marking a rare leadership shake‑up in the energy giant. The move follows months of scrutiny over Manifold’s public statements and internal governance lapses that critics say could strain shareholder trust.

In the geopolitical arena, Iran has accused the United States of “flagrant” violations of the Tehran ceasefire, intensifying pressure on Washington as back‑channel talks stall. The accusation risks widening tensions that could ripple through Middle East oil supplies and global energy prices, adding uncertainty to an already volatile market.

Meanwhile, ECB policymakers have signaled a likely rate hike in June, nudging markets toward tighter monetary conditions. The ECB’s stance reflects mounting inflationary pressure and a shifting outlook on growth, prompting investors to reassess bond yields and corporate borrowing costs across the eurozone.

In London, dealmaking in the mid‑cap sector has accelerated, as investors chase higher returns amid a sluggish larger‑cap market. Analysts note that renewed merger activity could lift valuations and create new growth opportunities for mid‑cap firms, potentially reshaping the UK equity landscape.