What happened
Donald Trump said the global community would soon know whether the US could secure an agreement with Iran or might pursue military action, giving Tehran roughly “the next, probably, 10 days” to reach a settlement. The US president made the remarks in Washington at the first meeting of his newly established “Board of Peace”, where he said discussions with Iranian negotiators had been “good”, while stressing that Tehran must deliver a “meaningful deal” on its nuclear programme or face consequences.

Who said what
“Maybe we’re going to make a deal,” Trump said. “You’re going to be finding out.” But he warned that, without a meaningful agreement, “bad things happen”.

The Trump administration is “closer to a major war in the Middle East than most Americans realise”, said Barak Ravid on news site Axios. “It could begin very soon.” The “rapid build-up of US forces” has progressed to the point that Trump “has the option to take military action against Iran as soon as this weekend”, said Helene Cooper in The New York Times.

What next?
Iran is expected to present detailed proposals in the coming days while the US continues to position military assets in the region as diplomatic and strategic options play out.

What happened
Depop, the British secondhand fashion app popular with Gen Z, has been acquired by eBay for a quarter less than its sale price five years ago. Etsy, which paid for $1.6 billion for the online marketplace in 2021, is selling it to the online auctioneer for about $1.2 billion.

Who said what
The app, one of the earlier entrants to the fashion app resale market, “has seen its value fall amid the rise of other savvy fashion apps, such as Vinted”, said the BBC.

The acquisition comes as the popularity of used clothing has grown in recent years, “with consumers seeking a sustainable, more affordable alternative to traditional retailers”, said Sky News.

What next?
Depop is expected to retain its name, brand and “complementary culture” under the ownership of eBay should the necessary regulatory approvals be granted. The all-cash deal is expected close in the second quarter of this year.

Minerals are a hot topic at present. Lithium, the crucial ingredient in the batteries that power smartphones and electric vehicles, is in particularly high demand. While most of the discussion has been around the potential treasure troves in Greenland or Ukraine, Cornwall is believed to be sitting on the largest lithium deposits in Europe.

Mining company Cornish Lithium made a “major production breakthrough” last October, according to The Telegraph: it produced lithium hydroxide, a raw material required to make lithium-ion batteries. “It is believed to be the first time that lithium hydroxide has been produced in Britain outside of a laboratory.”

If the world is to ever get close to net zero, lithium will be at the centre of it, said The Times. It can store more energy than most elements and is ideal for rechargeable batteries. That means it is playing an “increasingly important role” in the energy system. When “hooked up to a grid”, batteries can “absorb renewable energy when it is abundant and release it when scarce”.

In September the National Wealth Fund announced a £31 million commitment to Cornish Lithium. And last month the government released its critical minerals strategy, which could be a “watershed moment” for the county, according to Cornwall Live. The promised funding could be a “huge boon for the Cornish economy not seen since the heyday of tin mining”.