UK Manufacturing: S&P Global’s UK manufacturing PMI rose to 53.9 in May, a four-year high, but firms warned the upturn may fade as customers front-load orders to dodge war-related price and supply shocks. Energy & Supply Chains: A Reuters report says the Iran war hit European factories hardest, lifting raw material costs at the fastest pace in four years, while Asian peers expanded via stockpiling. Renewables Deal: Drax agreed to buy Bluefield Solar Income Fund in a £548m cash deal, taking on ~900MW of solar and wind plus a 2.9GW pipeline. Transport Rules: DVSA confirmed four MOT changes from June, including moving some electric vans to lighter Class 7 testing rules to cut fleet hurdles. Tax Compliance: HMRC confirmed £200 fines from August for missed Making Tax Digital quarterly deadlines, with sole traders warned they may not fully understand the new system. Youth Jobs Pressure: Pub bosses say Labour’s employer NIC and wage policy hikes are worsening the youth unemployment crisis, adding thousands to the cost of hiring young workers. Business Tech: Expereo/IDC-style findings highlight AI spending driven by fear of missing out, with many projects underperforming on ROI and data quality. Finance & Trade: UK customs is rolling out a digital ATA Carnet from 1 June to speed temporary goods movements, with the EU, Norway, Switzerland and the UK leading. Corporate Moves: Onecom Partners launched a Vodafone Business broadband partnership for resellers. Markets: FTSE 100 slipped into the red as investors digest the latest signals.