The Aga Khan, known for his triumphs in horse racing, dazzling wealth and development work around the world, has died in Lisbon at the age of 88, according to the Aga Khan Development Network on X.

The past 48 hours of tariff policies have stunned markets and boardrooms across the world.

U.S. President Donald Trump's sweeping tariffs on Mexico, Canada and China over the weekend, impending U.S. jobs data and assessment of the new AI landscape ahead of major tech firms' corporate results set the tone for financial markets.

After promising during his election campaign to put import taxes back at the center of US economic policy during his second term as president, President Donald Trump has taken steps in that direction.

Trump has also threatened to introduce tariffs - a tax on imports - on goods from Canada and Mexico, but paused these for 30 days after both countries agreed to boost border security. The US president has said tariffs are needed to help the American economy and to "protect" the country from the "major threat of illegal aliens and deadly drugs".