Zaporizhzhia nuclear plant loses power; U.S. strikes Iran for second day; UK defence chief resigns

A strike has cut off external power to Ukraine's Zaporizhzhia nuclear plant, the International Atomic Energy Agency confirmed on Thursday. The loss of off-site electricity at Europe's largest nuclear facility raises fresh safety concerns amid ongoing hostilities in the region. IAEA Director General Rafael Grossi said the plant is now relying on emergency diesel generators to maintain critical cooling functions. The agency did not attribute the strike to any specific party but called for immediate restraint around the site.

U.S. strikes Iran for second day; Iran retaliates against Gulf states and Jordan

The U.S. military conducted a second consecutive day of strikes against Iranian targets, following Donald Trump's warning that Tehran would 'pay the price' for stalled nuclear negotiations. The strikes hit multiple military installations inside Iran, according to U.S. Central Command. No casualty figures have been released by either side.

In retaliation, Iran launched a series of missile and drone attacks targeting Gulf states and Jordan, Iranian state media reported. Jordanian officials confirmed that air defense systems intercepted several projectiles over the capital, Amman. The United Arab Emirates and Saudi Arabia reported no damage but activated their air defense networks as a precaution.

ECB raises deposit rate to 2.25%, refi rate to 2.4%

The European Central Bank raised its key interest rates on Thursday, with the deposit rate increasing to 2.25% and the refinancing rate to 2.4%. The move marks the latest step in the ECB's tightening cycle aimed at curbing inflation in the eurozone, which remains above the bank's 2% target.

ECB Christine Lagarde said the decision was unanimous and that future rate moves will depend on incoming economic data. Markets had widely anticipated the increase, which was in line with analyst forecasts.

OpenAI files confidentially for IPO, Bloomberg reports

OpenAI has filed confidentially for an initial public offering, Bloomberg News reported on Thursday, citing sources familiar with the matter. The artificial intelligence company behind ChatGPT is moving toward a public listing as 2026 shapes up to be a year of megacap technology IPOs.

The filing is not yet public, and the company has not disclosed the number of shares or a target valuation. OpenAI's move follows a wave of investor interest in AI-driven firms and could be one of the largest tech listings in recent years.

UK Defence Healey resigns

UK Defence John Healey resigned on Thursday, a major shakeup in the British government. The resignation was announced by the Ministry of Defence without immediate explanation. Healey had served in the role since July 2024.

Keir Starmer's office said a replacement would be named in due course. The resignation comes at a time of heightened defense spending discussions within NATO and ongoing support for Ukraine.

What to Watch

Diplomatic efforts to de-escalate the U.S.-Iran conflict are expected to intensify, with the UN Security Council scheduled to hold an emergency session later today. The IAEA will provide an update on the Zaporizhzhia plant's power status within 24 hours. Markets will react to the ECB rate decision and any further developments in the OpenAI IPO filing process.