Precise terms remain unclear amid conflicting claims over when access to vital global shipping route will be restored

• Middle East crisis – live updates

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A framework peace deal between the US and Iran has been reached, Donald Trump and senior Iranian officials have said, bringing the 15-week conflict to a tentative end and offering hope of relief for the Middle East and the world economy.

The secretariat of Iran’s Supreme National Security Council said war and military operations on all fronts, including Lebanon, would end permanently from Monday night.

A year ago it was the hot topic, but business owners have seen there’s a limit to the president’s royal decrees

In two weeks, I’m speaking to a group of companies in the packaging industry about issues affecting their businesses this year. I’m going to discuss the economy, navigating higher costs, leveraging new tax legislation, AI and what companies are doing to find and retain workers in a volatile job market.

You know what I won’t be talking about? Tariffs.

Some fighters will receive bonuses in ‘stablecoins’ issued by Trump family business World Liberty Financial

The Ultimate Fighting Championship (UFC) announced on Friday that it will pay bonuses to fighters in a form of cryptocurrency issued by Trump family business World Liberty Financial at the heavily publicized White House mixed martial arts event on Sunday.

The development connects the Trump family’s financial interests to the high-profile UFC competition being promoted on government property. The competition on the south White House lawn is scheduled for 14 June, Donald Trump’s birthday.

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Israel says it has struck Beirut’s south suburbs, with explosions heard in the city. The Israeli military claimed the attacks on the Lebanese capital were in response to Hezbollah firing into Israeli territory.

The military were reportedly targeting Hezbollah targets in Beirut’s southern suburbs, the group’s stronghold known as Dahiyeh, according to a joint statement by prime minister Benjamin Netanyahu and defense minister Israel Katz.