President Donald Trump has renewed his threat to destroy Iran's infrastructure if Tehran fails to accept a deal by an 8pm Eastern deadline. At a press conference, Trump vowed to "decimate" Iran's infrastructure, specifically targeting power plants and bridges. Iran's military command dismissed the threats as "delusional" after Tehran rejected a US ceasefire plan.

Iran presented a 10-point peace proposal to Pakistani mediators, which Trump immediately rejected as insufficient. The escalating rhetoric raises concerns for global energy markets, with the Strait of Hormuz critical for oil shipments. Iranian state media reported the nation has rejected the US proposal outright, insisting on a "permanent end" to the conflict.

CATL, the world's largest battery maker, is expanding its electrification ambitions to global shipping fleets, having deployed batteries on approximately 900 vessels. Separately, JPMorgan Chase CEO Jamie Dimon warned that losses for lenders to highly indebted companies will be higher than many expect due to weakening standards in the $1.8 trillion private credit industry.