Israeli strikes target Iranian commanders and nuclear plant

Good morning, as the Middle East is plunged into a new war after Israel launched a significant military attack on Iran overnight. We’ll bring you details of the strikes and reaction to them. And here’s what else we’re covering:

• Modi visits Air India crash site

• Trump calls Powell a “numbskull”

• Scientists’ synthetic bacteria warnings

• And the surprise tech hit of 2025

Israel has launched dozens of air strikes in a devastating large-scale attack that targeted Iran’s nuclear programme, ballistic missile factories and military commanders. Here’s what we know.

What were the targets of Israel’s attack? Massive explosions rocked Tehran in the early hours of the morning local time as Israel’s military struck the headquarters of the Revolutionary Guards, the regime’s most powerful military force, in the east of the city.

Iran’s state news agency said Major General Hossein Salami, head of the country’s elite Revolutionary Guards, was killed as well as Major General Mohammad Bagheri, the forces’ chief of staff. A prominent physics professor and the former head of Iran’s atomic organisation were also killed.

Israel also struck a nuclear plant in Natanz, south of Tehran. Israeli Prime Minister Benjamin Netanyahu said his country “struck at the heart of Iran’s nuclear enrichment programme”. An Israeli official said the attacks could last for as long as two weeks.

Israel said Iran has launched about 100 drones in response to the attack, which it was working to intercept while Iran’s Supreme Leader Ayatollah Ali Khamenei said Israel “should expect a severe punishment”.

What has the reaction been? Marco Rubio, secretary of state, made clear the US was not involved in the military operation and warned Iran against targeting American interests or personnel in response. Donald Trump said he was waiting to see what Iran’s reaction would be before responding. There was condemnation of Israel from across the Middle East. Saudi Arabia denounced the strikes on its “sisterly” country and Oman called the attacks a “dangerous, reckless escalation” and an attempt to derail diplomatic talks that were due to resume on Sunday in the country’s capital, Muscat.

Oil prices surged as supplies across the region were threatened. Brent crude, the international oil benchmark, rose as much as 12.5 per cent before falling back. This morning Brent was up 8 per cent at about $75 a barrel. Haven assets such as gold, the Swiss franc and Japanese yen, also rose as investors sought to reduce their exposure to risk assets including equities. Futures tracking the S&P 500 were down 1.5 per cent in the European morning. We’ve got more coverage below:

• Tehran rocked by massive explosions: Our reporters in the region follow the latest developments in this story.

• Energy prices: “We’re staring down the barrel of a prolonged conflict that’s almost certain to keep oil prices elevated,” said one energy investor.

• Failed diplomacy: Trump had said the US was “fairly close to a pretty good agreement” with Iran as he urged Israel not to launch an attack.

• Live blog: FT reporters around the world will bring you reaction and the latest developments here.

And this is what else we are watching today and over the weekend:

• Economic data: The University of Michigan publishes the preliminary reading of its Consumer Sentiment index for May and Brazil’s statistics agency IBGE publishes April service sector data.

• IPO: Shares in JBS, the world’s largest meat producer, begin trading in New York this morning. The listing marks a significant milestone for the Brazilian billionaire brothers who transformed their family slaughterhouse into a global colossus.    

• Washington military parade: A military parade is set to be staged on Saturday, coinciding with the US Army’s 250th anniversary and Donald Trump’s 79th birthday.

• G7 summit: The annual meeting of international leaders begins on Sunday in Canada. What is Europe’s game plan for handling Trump?

Which country announced its biggest defence spending boost since the second world war? Take our weekly news quiz.

Five more top stories

1. India’s Prime Minister Narendra Modi visited the crash site today where more than 200 people were killed in the country’s worst civil aviation disaster in almost three decades. The Indian leader spoke to victims of the disaster in hospital, including the sole survivor.

2. A US senator was forcibly removed by federal agents at a press conference held by homeland security secretary Kristi Noem in Los Angeles yesterday. Democrat Alex Padilla said that he was “almost immediately forcibly removed from the room” after he began to ask Noem a question. Read more on the dramatic escalation of tensions in California.

3. Donald Trump has called Federal Reserve chair Jay Powell a “numbskull” for not cutting interest rates, saying the White House may “have to force something” if the US central bank does not reduce borrowing costs. The president’s comments came less than a week before the central bank’s June meeting, in which policymakers are expected to hold rates steady.

4. Argentina’s monthly inflation rate has fallen below 2 per cent for the first time in five years, a boost for libertarian President Javier Milei in his war against the country’s chronic price pressures. It is a surprise victory for Milei after he lifted a controversial currency control that had underpinned his fight against inflation and bolsters his chances at October’s midterm elections.

5. Exclusive: Germany plans to make its railway network a priority in its €500bn infrastructure fund designed to lift Europe’s largest economy out of stagnation. The plan is part of a series of measures the coalition government led by Chancellor Friedrich Merz wants to adopt this month. Read the full report.

News in-depth

Scientists have launched an international campaign to stop the creation of synthetic bacteria that could threaten life on earth. The scale of the danger remains hard to predict but one scientist said: “There is a scenario in which a future mirror organism becomes a widely pervasive invasive species and displaces and disrupts many critical ecosystems.”

We’re also reading and listening to . . . 

• Central banks: Global swap lines have been a pillar of the global financial system for decades. But doubts are creeping in about the reliability of that safety net, writes Gillian Tett.

• Technology: A decade on from Google’s Glass debacle, Meta’s stylish smart glasses are the surprise hit of 2025. Here’s why.

• Unhedged 🎧: Rob Armstrong and Aiden Reiter sort through the factors that drive Tesla’s stock price.

• Taco trade: Trump always chickens out — but why? Tim Harford digests the truth about Taco.

Chart of the day 

Vietnam was one of the biggest winners from Trump’s first term as manufacturers moved production in droves to the country as part of their “China plus one” diversification strategy. The south-east Asian country has become a critical link to global supply chains, hosting manufacturing heavyweights such as Apple, Intel, Samsung and Nike. But its success has backfired this year as the president takes issue with trading partners that have large surpluses with the US. Does Vietnam have a plan B?

Take a break from the news

Lauren Geremia first made her name in the early 2010s, designing offices for the likes of Instagram and Dropbox. But her elegant, offbeat and painterly aesthetic saw her move into private homes. Her style — centred on art — is now attracting the culture crowd and bringing Arts and Crafts to the tech bros.