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The Latest Breaking News from Iran

Politics with Michelle Grattan: Economist Chris Richardson on next steps in fuel crisis

The war in Iran has become the third major economic crisis in the last 20 years, with fuel prices jumping and inflation once again starting to pick up. Australians are feeling worsening economic pain.

The Conversation

London faces food shortages as Iran war hits CO2 supplies

Chicken and pork could be in short supply as disruption in the Strait of Hormuz hits global trade

Evening Standard

UK could face gaps on supermarket shelves by summer if Iran war continues

Ministers drawing up contingency plans for ‘reasonable worst-case scenario’ if supply of CO2 is disrupted

The Guardian - UK

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The Iran war’s fertilizer shock is hammering American farmers, and 70% can’t afford what they need for this year’s growing season

Prices for three main fertilizers used by farmers are all up double digits since the Iran war started.

Fortune

No 10 claims Starmer did not know Mandelson failed security vetting until this week – as it happened

The prime minister was not aware that the former US ambassador had failed the vetting process, according to Downing Street

The Guardian - UK

Public should be ‘reassured’ by Iran war food shortage preparation – Peter Kyle

The Government’s reasonable worst-case scenario suggests there could be less variety on supermarket shelves should fighting continue unabated.

Evening Standard

These Americans are refusing to pay their taxes in protest of the Trump administration

From a Brooklyn freelancer who hasn’t paid federal taxes since the Vietnam War to a new mom horrified by the Iran war, tax resisters say they’d rather face IRS consequences than fund policies they oppose.

Fortune

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UK in ‘worst-case scenario’ planning for food shortages as a result of Iran war

The business secretary said the public should be ‘reassured’ that ministers are making contingency plans for the impact of the Iran war

The Independent UK

Why no nation is truly ‘energy independent’ while the Strait of Hormuz remains closed

The U.S. blockade is working, but a potential global recession still looms.

Fortune

Tesco says Iran conflict increasing uncertainty over profit outlook

The UK’s largest supermarket group reported stronger-than-expected adjusted operating profits of £3.15 billion for the year to February.

Evening Standard

Tesco ‘doing whatever we can’ to keep prices affordable amid Iran war

The UK’s largest supermarket group plans to make a further £500 million in cost savings

The Independent UK

Australia boosts military spending as Iran war makes global impact

Australia's defense minster says the Iran war had greatly complicated the global strategic landscape and the country is significantly increasing its military spending

The Independent UK

UK economy grew faster than expected before Iran war

The war in the Middle East has hit hopes of an uptick in growth this year

The Independent UK

UK economic growth in February better than forecast before Iran war

The ONS said gross domestic product grew by 0.5% month-on-month in February following upwardly revised growth of 0.1% in January.

Evening Standard

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Evening Standard

Donald Trump's Iran war threatens to torpedo London's economic uplift, warn business chiefs

The latest GDP figure shows an unexpected boost to growth before the Iran war kicked off

The Guardian - UK

Thursday briefing: What it will take for Britain to break up with natural gas

In today’s newsletter: The economic fortunes of the UK are intertwined with the price of the costly fuel – so why are we so slow to ditch it?

The Guardian - UK

IMF chief Georgieva warns ‘everyone will feel the impact’ of energy price shock, as UK growth beats forecasts – as it happened

There will be flight cancellations ‘soon’ if oil supplies are not restored in coming weeks, says head of IEA

The Independent UK

Oil prices fall again amid hopes for new US-Iran peace talks

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The Guardian - AU

Gunfire reported in Beirut as truce comes into effect – as it happened

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The Independent UK

The Latest: Pakistan’s army chief to meet Iranian officials in Tehran to push new US-Iran talks

Pakistan’s army chief is meeting with Iranian officials in Tehran to ease Middle East tensions and arrange U.S.-Iran negotiations

Euronews

Iran war sparks EU proposal to reduce tax on electricity and encourage green transition

Electricity is taxed far higher than fossil fuels. Could a new EU proposal finally reverse this?

Evening Standard

France prepares for terror attack hitting London amid Donald Trump Iran war tensions

Exclusive: Special agents from the Paris-based Crisis and Support Centre could be flown over to Britain to help French diplomats deal with a major incident in London

The Independent UK

Oil prices drop below $95 and Asian stocks hit record highs as Iran peace deal hopes grow

Brent ‌crude opens 0.4 per cent lower at $94.55 a barrel after reports Iran could consider allowing ships to sail freely through the Omani side of Strait of Hormuz

The Independent UK

Iran-US war latest: Trump calls it a ‘historic day’ as ceasefire between Israel and Lebanon comes into effect

The truce follows a heavy bombing campaign by Israel against targets it says are linked to Hezbollah

The Independent UK

Asian stocks mostly higher after Wall Street hits record and oil steadies

Asian stocks are mostly higher and oil prices have steadied over expectations of an extension of a ceasefire in the Iran war and more talks between the U.S. and Iran

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