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EasyJet said it took on roughly £25 million in additional fuel costs in the first half of 2026 due to the Middle East conflict.

The dollar index, which tracks its performance against a basket of major currencies, fell almost 10% through 2025. 

The "ReconKering" strategy announced Thursday includes more than doubling its 2025 recurring operating margin of 11.1%.

European stocks opened higher on Thursday as investors assess fresh economic data and the outlook for U.S Iran peace talks.

Hong Kong is rolling out a new tax break for commodity traders as it seeks to strengthen its position as a regional trading hub and revive shipping activity amid global supply disruptions.

TSMC reported another quarter of record profit, with the company expecting AI demand to continue to grow.

Iran war cuts India’s March goods exports by over 7%, hammering key sectors and markets, lifting costs and delaying recovery for months.

Asia markets opened higher, with Nikkei at an all-time high after Wall Street hit record levels on growing expectations of a U.S.-Iran deal to end the war.

Kim said South Korea will focus on wind and solar power to achieve its goal of reaching 100 gigawatts renewable energy capacity

Economists polled by Reuters expected U.K. gross domestic product (GDP) to have expanded by 0.1% month-on-month.

President Trump's timeline for an end to the Iran war continues to shift, U.S. and Iran block the Strait of Hormuz, trapping the Gulf's oil and gas, Trump's allies defend his remarks about Pope Leo.

Russia hammered civilian areas of Ukraine with hundreds of drones and dozens of missiles in an attack that stretched for hours killing at least 16 people.

Ukrainian president says nearly 700 Russian drones and 19 ballistic missiles mostly targeted Kyiv, Odesa and DniproPresident of the European Council António Costa has condemned the “horrendous” overnight attacks on Ukraine by Russia, alleging Russian forces “deliberately carried out follow-up strikes” to target first responders.He said:“As people slept in their homes, the cities of Kyiv, Dnipro, Odesa, and Kharkiv were struck by dozens of ballistic missiles and hundreds of drones. Russian armed forces deliberately carried out follow-up strikes on Ukrainian emergency services as first responders arrived to save lives.”“Russia’s war of aggression against Ukraine has failed, and so it chooses to deliberately terrorise civilians. Russia must stop this war of terror.”“Russia is betting on war, and the response must be exactly that: we must defend lives with all available means, and we must also apply pressure for the sake of peace with the same full force.” Continue reading...

Budget airline says passengers are leaving it later to book flights owing to economic uncertaintyBusiness live – latest updatesThe budget airline easyJet has warned the impact of the Iran war on bookings and oil prices will hit its profits, having driven up fuel costs by £25m in the last month alone.It said it expected to report an increased pre-tax loss of £540-£560m for the six months to March, up from £394m in the first half of 2024-25. The carrier typically makes its money in the second half of the year which includes the peak summer period. Continue reading...

Peter Kyle did not dispute Times’ report that under a ‘reasonable worst-case scenario’ supermarkets might start running out of some itemsPeter Kyle, the business secretary, was giving interviews this morning to promote a government announcement that will help companies in energy-intensive industries with fuel bills.As the Department for Business and Trade says in a news release, the existing scheme – the British Industrial Competitiveness Scheme, or BICS – is being expanded. It says:Automotive and aerospace, steel, and pharmaceuticals are among the sectors where eligible businesses are to benefit from a one-off additional payment in 2027. This will cover the support firms would have received if BICS had been in place from April 2026.Eligibility has also been expanded by 40%, from 7,000 to over 10,000 businesses. This targets support at energy-intensive firms on the number one issue they face – high electricity costs.Anyone abusing protections for people fleeing persecution over gender or sexual orientation is beyond contempt.Let me be clear: try to defraud the British people to enter or remain in the UK and your asylum claim will be refused, your support cut off, and you will find yourself on a one-way flight out of Britain.A Reform UK government will put a stop to the legal-industrial complex exploiting the generosity of the British taxpayer. We will criminally prosecute unscrupulous immigration lawyers by creating a new strict liability offence. We will also end legal aid for illegal arrivals and visa overstayers. Those who break into our country will no longer get taxpayer funds to fight their removal.Reform will ensure our borders are secured, illegal migrants deported and British taxpayers are no longer defrauded in this manner.A Reform government will make facilitating a false asylum claim a ‘strict liability’ criminal offence. There will be no requirement to prove intent in prosecutions, and this serious crime will be punishable by up to 2 years in jail. Lawyers defrauding the British people in this way will not be tolerated. Similar duties already apply to law firms and lawyers to prevent bribery and tax evasion and it’s reasonable to also apply this to immigration law firms. Continue reading...

Israeli minister says pair to speak after ‘many years of total disconnect’ but reports say that Lebanese were not aware of plans first outlined by TrumpUS and Iran in indirect talks to extend two-week ceasefireA member of Israel’s security cabinet, Galia Gamliel, said the prime minister, Benjamin Netanyahu, will speak to the Lebanese president, Joseph Aoun, today, according to Israeli media.The conversation will take place “after so many years of a total disconnect in the dialogue between the two states, and this move will hopefully, in the end, lead to prosperity”, she told the Israeli Army Radio, the Times of Israel reported. Continue reading...

Some petrol stations may see short-term outages and energy experts warn Victorian fuel prices could spike up to 20 cents a litreFull report: Geelong oil refinery fireTrack Australia’s fuel prices, service station outages and shipments in chartsGet our breaking news email, free app or daily news podcastAustralia will become more dependent on imports for its petrol needs as fuel company Viva looks overseas to fill the gap left by a huge blaze at one of Australia’s two oil refineries.Energy experts have warned more fuel restrictions could be needed and Victorian motorists should brace for a short-lived petrol price spike of up to 20 cents a litre. Continue reading...

This blog is now closedAustralia more dependent on imports after Geelong refinery fire as Chris Bowen warns ‘this is a setback’Get our breaking news email, free app or daily news podcastFire officer says officials haven’t detected any contaminants spreading from blazeEarlier this morning, Fire Rescue Victoria assistant chief fire officer, Mick McGuinness, provided an update to ABC Radio Melbourne. Shortly before 7am, he said about 50 firefighting vehicles were continuing to fight the blaze in the Mogas (motor gasoline) plant section of the refinery.This fire has been quite large overnight. It is still burning at the moment, and we would still declare it as not yet under control … And the fire is mainly being fed by various types of hydrocarbon fuels. So predominantly liquid petrol … and also some gas and vapours that are feeding this fire at the moment.We were concerned with the smoke that was coming off this fire, so our initial reactions were to get an alert message out to the community. We’ve since been able to have our specialist hazardous materials teams come in from locally Geelong and also in Melbourne and set up some atmospheric monitoring equipment and do a lot of sensing and sampling of not only the atmosphere but also the fire water runoff that we’re using to contain the fire. We’ve been able to determine … that we haven’t detected any sort of contaminants there.We’re predicting that this still could burn for another three or four hours, if not longer. But we are starting to see a reduction in the intensity of the fire, which is an indication that the depressurising of the systems and the pipe work is occurring and that we will see a lesser amount of fuel being available to feed the fire. And of course, that allows us to continue to cool that area more rapidly and then be able to get crews in there to look at how we can start to isolate pipe work and valve systems.It shows that we have very fragile, very thin energy security platform when it comes to refinery, only the two refineries left. And as mayor, I’ve been calling this out since being elected back in 2024, that Viva is not only a significant employer and corporate citizen for Geelong, but it has a significance for Victoria and Australia.And it just shows that we, as a country, need to invest more in this type of capability. Continue reading...

Ministers drawing up contingency plans for ‘reasonable worst-case scenario’ if supply of CO2 is disruptedBusiness live – latest updatesThe UK could face some gaps on supermarket shelves this summer if disruption caused by the Iran war continues, with shortages of carbon dioxide potentially hitting supplies of chicken, pork and fizzy drinks.Government ministers are reportedly drawing up contingency plans for a “reasonable worst-case scenario” if the key shipping lane of the strait of Hormuz does not reopen, disrupting supplies of the CO2 required by the food industry. Continue reading...

Court finds law – which effectively meant protesters could not march without risk of arrest – is unconstitutionalFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastNew South Wales’ highest court has struck down an anti-protest law brought in after the Bondi beach terror attack which gave police the power to restrict marches, including at the anti-Herzog rally earlier this year.The court of appeal handed down its findings on Thursday after three activist groups – the Blak Caucus, the Palestine Action Group and Jews Against the Occupation ’48 – filed a constitutional challenge in early January against the legislation. Continue reading...

ONS figure for February suggests Britain was gaining momentum before conflict dashed hopes of recoveryBusiness live – latest updatesUK GDP expanded by a stronger than expected 0.5% in February, official figures show, suggesting the economy was gaining momentum before the onset of war in the Middle East dashed hopes of recovery.The jump, reported by the Office for National Statistics (ONS), was significantly bigger than the 0.1% forecast by economists. January’s flatlining figure was also revised up, to 0.1% growth. Continue reading...

Petrol production hit and full extent of damage unknown after ‘unprecedented’ fire at Viva plant in CorioFollow our Australia news live blog for latest updatesGeelong oil refinery fire: what we know so farGet our breaking news email, free app or daily news podcastAn explosive fire at a Geelong oil refinery – which supplies half of Victoria’s fuel and 10% of Australia’s – has been extinguished, with the impact on petrol production and the extent of the damage still unknown.The blaze at the Viva Energy facility in Corio – one of two refineries left in the country – broke out just after 11pm Wednesday, with Fire Rescue Victoria alerted to the blaze by multiple calls to triple zero reporting explosions and flames. Continue reading...

UK’s biggest supermarket voices caution for year ahead despite annual profits rising 8.5% to £2.4bnBusiness live – latest updatesTesco has warned that profits could fall back in the year ahead amid “increased uncertainty caused by the conflict in the Middle East”.The warning came after the UK’s biggest supermarket hit its highest share of the market in a decade. Continue reading...

The UK could face some food shortages by the summer under a worst case scenario drawn up by officials.

Teachers say more children are starting school without skills like basic communication and potty training.

BBC Verify analysis found more than 1,400 buildings had been destroyed since 2 March.

A scheme to cut bills for firms that are heavy energy users is being extended to cover an additional 3,000 businesses.

Alongside her husband, the Duchess of Sussex was speaking to young people in Melbourne about the harms of social media.

Meanwhile, a Ukrainian drone attack killed two children in Russia, officials say.

Seven-time winner Ronnie O'Sullivan begins his bid for a record-breaking eighth World Snooker Championship title with a match against China's debutant He Guoqiang at the Crucible.

A major review has provoked a backlash after concluding the medicines provide too little benefit to be noticed.

LIV Golf chief executive Scott O'Neil reportedly tells players that the 2026 season will continue uninterrupted amid rumours that the tour is on the verge of collapse.

LIV Golf chief executive Scott O'Neil reportedly tells players that the 2026 season will continue uninterrupted amid rumours that the tour is on the verge of collapse.

The economy saw its biggest monthly rise in more than two years just before the outbreak of the US-Israeli war with Iran.

Major attack comes just hours after Putin's forces hit Ukraine with more than 380 drones and missiles

Designs for Donald Trump's 250-foot (76-meter) "Triumphal Arch" have been unveiled by the White House.

Bill Pulte, director of the Federal Housing Finance Agency, allegedly influenced the president’s decision to post the AI image, not the first time the offical has been accusing of stoking controversy

China is Iran’s largest trading partner and the primary buyer of the country’s oil

Local governor Mukerrem Unluer says weapons were believed to belong to student's father, a former police officer

Refinery supplies around half of Victoria's fuel and 10 per cent of nation's total, and processes about 120,000 barrels of oil per day

‘I will be surprised when they leave the White House if they have not taken the copper pipes out of the walls,’ says son of former president Joe Biden

Gas leak ignites plant in Victoria that produces about 10 percent of Australia's fuel.

A major fire at a key refinery in Australia refinery has disrupted fuel production, raising fears of fuel shortages.

Key eastern state heads to polls under the shadow of controversial voter list revision, which many say excludes Muslims.

A centuries-old historical bond has come alive again amid the war on Iran, with Kashmiris sharing whatever they can.

Hungarian Americans say Viktor Orbán's defeat in Hungary provides a blueprint for countering President Trump's attempts to tilt the electoral playing field ahead of the midterms.

Russia hammered civilian areas of Ukraine with hundreds of drones and dozens of missiles in an attack that stretched for hours killing at least 16 people.

The diplomacy came as the White House dismissed reports that President Trump wanted to extend the cease-fire, while still expressing optimism that talks could yield an agreement.

When President Trump and G.O.P. leaders denounced the pope’s comments about the U.S. attack on Iran, they touched off a religious debate over what is and isn’t a “just war.”