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The Latest Breaking News from the Iran war

Shell profits surge as Iran war drives oil prices higher

Europe’s biggest energy company reported a jump in first-quarter profits as the war involving Iran and the effective closure of the Strait of Hormuz pushed oil and gas prices higher.

Euronews

Gas price surge hits lower-income Americans the hardest, research shows

This trend has exacerbated existing economic disparities across the nation

The Independent UK

The Iran war's oil shock causes a plastic shortage in Asia, squeezing industries and prompting a 'Middle East plus one' rethink of supply chains

South Korea is probing firms suspected of hoarding syringes, which, alongside products like needles and gloves, are produced from petrochemicals.

Fortune

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Spirit Airlines Says 'Recent Geopolitical Events' Leading To Fuel Spikes Led It To Shut Down

Spirit Airlines said in a court filing that the spike in oil prices resulting from the Iran war played a key role in its decision to cease operations.

International Business Times

Spirit Airlines Shutdown Has Nothing to Do With Biden? Source Claims Geopolitical Events Started by Trump is to Blame

Spirit Airlines ceased operations due to geopolitical tensions and antitrust issues. The closure, linked to the Iran war and a blocked JetBlue merger, left employees and customers in uncertainty.

International Business Times UK

Japan and Australia agree to deepen cooperation on energy, defense and critical minerals

Japanese Prime Minister Sanae Takaichi met Australian Prime Minister Anthony Albanese have agreed to deepen cooperation in areas including energy security, defense and critical minerals as the Iran war threatens global supply chains

The Independent UK

CNN pundit calls for talking head Scott Jennings to be fired after F-bomb meltdown at 23-year-old reporter on air

The dispute began on Thursday during an on-air debate about the Iran war

The Independent UK

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Fuel Costs Soar for Air France-KLM as Middle East Conflict Triggers Urgent $2.4 Billion Budget Warning

European airline group Air France-KLM has raised prices as fuel costs surge amid the Iran war, while warnings from the International Energy Agency highlight fears Europe could face jet fuel shortages within weeks.

International Business Times UK

Fertiliser crisis caused by Iran war sparks global food security fears

The Iran war and the consequent blockade of the Strait of Hormuz has triggered a severe "fertiliser squeeze" as soaring energy costs and export disruptions push farmers' affordability to a four-year low.

Euronews

Workers around the world demonstrate on May Day, in photos

People across Asia kicked off May Day with large marches and protests as many workers grapple with rising energy costs and shrinking purchasing power tied to the Iran war. Also known as International Workers’ Day or Labor Day, the holiday highlights the struggles and achievements of workers worldwide. Thousands are…

The Independent UK

F1 Returns in Miami as Middle East War Break Forces Five Week Hiatus, Historic Mid Season Regulation Tweaks

F1 returns from a five week intermission due to the Iran War and with thunderstorms, upgrades, and rule changes we could be in for a very unpredictable weekend.

International Business Times UK

Inflation hits 3% in Europe as Iran war spreads oil price shock

Soaring oil prices from the Iran war pushed inflation higher to 3% in Europe in April

The Independent UK

I Asked Investing Experts Where To Put My Money During the Iran War: Here’s What They Said

From Magnificent 7 stocks and shipping exchange-traded funds to Treasurys and gold, see where experts suggest investing amid Iran war market uncertainty.

GOBankingRates

French growth stalls as Iran war energy shock hits economy

France's first-quarter data shows slowed growth, rising prices and collapsing exports, laying bare how quickly the Iran war's energy shock is feeding through to Europe's second-largest economy.

Euronews

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The Independent UK

The Bank of England is expected to keep interest rates on hold as it weighs the impact of Iran war

The Bank of England is expected to announce it's keeping interest rates on hold as policymakers assess the economic impact of the Iran war and Tehran’s effective closure of the Strait of Hormuz, through which a fifth of the world’s crude passes in peacetime

The Independent UK

China’s factory activity expands for a second month despite shocks from the Iran war

Surveys show China's factory activity expanded for a second month in April

AAP

Treasurer downplays property tax windfall from budget

Jim Chalmers is talking down the amount of extra revenue that changes to negative gearing and the capital gains tax discount will add to the budget.

Motorsport

What happened during F1’s April break, team by team

As the Iran war caused the cancellation of the Bahrain and Saudi races, F1 teams and drivers found themselves with a five-week break on their hands. Here’s how they made the most of it

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The Independent UK

Barclays is first bank to bring back sub-4% mortgage deal – but it’s not for everyone

Hundreds of sub-4 per cent products were removed from the market as swap rates shot up during the Iran war

The Independent UK

EU chief warns billions could be wasted if energy aid is not well targeted as the Iran war bites

European Commission President Ursula von der Leyen is warning EU countries to focus their energy aid on vulnerable households and industries

The Independent UK

Hundreds stuck in long lines as Pakistan Super League ticket snag slows return of spectators

Fans had to wait a month to watch Pakistan Super League games in person after the Twenty20 cricket tournament was impacted by the Iran war

Fortune

German chancellor says the U.S. 'is being humiliated by the Iranian leadership' as allies go public with discontent

Thailand’s foreign minister told The Washington Post the country is looking to Russia and China as the country grapples with an energy shock from the Iran war.

Euronews

How the Iran war boosted profits at BP and Barclays

Barclays' profits rose, but loan losses weighed on its first-quarter results. At the same time, oil giant BP’s earnings jumped, largely driven by an exceptional oil trading boom linked to the Iran war.

The Independent UK

Charles to tell Congress that US-UK relationship is one of ‘reconciliation and renewal’

Monarch will nod to recent transatlantic disagreements over the Iran war in address to policymakers

International Business Times UK

Trump Snaps At Press Briefing After Being Grilled Over How Long The Iran War Will Last – 'How Many Years was Vietnam?'

Trump defends his Iran strategy during a briefing, referencing wars and military achievements while facing scrutiny over the conflict's timeline

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