Good morning from the Financial Times.
Today is Tuesday, April 7th, and this is your FT News Briefing.
The global energy crisis is causing fiscal concerns in the European Union, and private equity buyouts hit a rough patch.
Plus, Cuba's power supply is in a critical situation, and the country is turning to China for help.
I'm Mark Filippino, and here's the news you need to start your day.
U.S.
And Iran rejected each other's ceasefire proposals yesterday.
Iran is demanding a few things, the permanent end to war,
the lifting of sanctions, and a, quote, protocol for ships to pass through the Strait of Hormuz safely.
That's all according to Iranian state media.
U.S. President Donald Trump said Iran made a,
quote, significant proposal to end the conflict, but it was n't enough for Washington.
He added that Tehran had been negotiating in good faith.
Tonight at 8 p.m. Eastern time is Trump's deadline for Iran to reopen the Strait of Hormuz.
Trump warned on Monday that, quote, the entire country can be taken out in one night.
The European Union is worried about countries turning the global energy crisis into a fiscal one.
EU officials are urging governments to avoid what they describe as excessive support to offset energy prices.
Things like subsidies, tax cuts, and price caps.
Brussels wants to avoid a repeat of the 2022 energy crisis caused by Russia's full-scale invasion of Ukraine
that led to rampant inflation and widening deficits.