1. Business
  2. Morning briefing
August 6, 2018updated 03 Aug 2018 5:00pm

US to re-impose sanctions on Iran / UK runs out of home-grown produce / Softbank releases Q1 results

By Luke Christou

Good morning, here’s your Monday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.

US to re-impose sanctions on Iran

A 90-day wind-down period following Donald Trump’s decision to remove the United States from the Iran nuclear deal agreement expires today.

The US must reinstate a range of sanctions against Iran. These include bans on Iran purchasing US dollars, trading precious metals, and the sale of Iran-made goods.

The US Treasury Department was given three months to re-impose sanctions against Iran that were lifted when it exited the Joint Comprehensive Plan of Action, a deterrent against Iran’s nuclear weapons program.

Trump argued that Iran had failed to honour the agreement, which was also signed by China, France, Russia, the United Kingdom, Germany and the European Union.

A second deadline, set for 180 days after the US’s withdrawal from the agreement, will see the US re-impose further sanctions. These will halt trading with Iranian oil companies and the Central Bank of Iran, among other things.

UK runs out of home-grown produce

Today is NFU day, otherwise known as the day when the UK would run out of food if it was to rely solely on home-grown produce from 1 January.

Organised by the National Farmers’ Union of England, it is intended to raise awareness of the need to improve Britain’s ability to produce its own food. According to the NFU, the UK currently produces 60% of its own food, but that figure is in long-term decline.

Some 30% of food consumed in the UK comes from Europe. With Brexit edging closer, there are fears that Britain’s exit from the EU could result in food shortages.

Softbank releases Q1 results

Japanese holding conglomerate SoftBank Group will release its first quarter earnings from 2018 today.

The company will announce its results from April-June during a webcast, which will be streamed live on the SoftBank website. The briefing is scheduled to begin at 8am London time.

SoftBank, the 38th largest public company in the world according to Forbes, has seen rapid growth in recent years. Since falling to a low of 4,200 JPY in 2016, the company’s stock price peaked above 10,000 JPY in 2017. It currently sits above 9,000 JPY.

SoftBank has transformed itself into one of the largest tech investors in the world with purchases of smartphone processor manufacturer Arm Holdings and robotics company Boston Dynamics, formerly owned by Google.

The company also holds stakes in tech giants like Alibaba, Uber, Didi Chuxing, Flipkart and Nvidia.

Last week’s highlights

What are 3D printed guns and should we be worried?


Environmental impact of plastic more severe than thought