Business headlines were driven by geopolitics and regulation today. Donald Trump threatened 100% tariffs on French wine unless Paris scraps its digital services tax on large U.S. tech groups, escalating a transatlantic trade fight just ahead of the G7. In a separate sign of shifting global risk, Washington and Tehran announced an immediate, permanent end to military operations, with the outline of a deal reportedly including sanctions relief, the reopening of the Strait of Hormuz and further nuclear talks — moves with obvious implications for oil markets and shipping. Britain, meanwhile, underlined its sanctions enforcement by charging the captain of a seized Russian “shadow fleet” tanker after a dramatic boarding in the English Channel. In corporate news, Indian fintech Razorpay quietly took a step toward public markets, confidentially filing for an IPO that could raise roughly $500 million to $600 million.