Eurozone inflation soars to 3% as Iran war drives up energy prices

• The United Arab Emirates withdrew from OPEC yesterday, marking a historic split from Saudi Arabia during the escalating regional crisis. • This decision coincides with the Strait of Hormuz being almost entirely shut down due to a US naval blockade aimed at halting Iranian oil exports. • The US is threatening to cut off major Chinese banks from its financial system to prevent processing of Iranian oil, intensifying global energy tensions.

• The United States deployed a third aircraft carrier strike group with thousands of elite troops to the Middle East on April 24, marking the largest military buildup since the 2003 Iraq invasion, as the two-month Iran conflict escalates despite a ceasefire agreement. • President Trump warned the American military was "ready to go" if peace efforts fail, stating the US used the April 8 ceasefire to "restock" military capabilities while Washington and Tehran accuse each other of violations. • The US bombing campaign launched February 28 has devastated Iran's military infrastructure and leadership, but Tehran maintains control of the Strait of Hormuz, a critical global oil and gas supply route, prompting a US naval blockade imposed April 13.

Ruling has gutted provision intended to prevent racial discrimination in voting. Plus, oil tops $126 a barrel to reach highest level since 2022Good morning.The US supreme court has gutted a major section of the Voting Rights Act through a landmark decision on Louisiana’s congressional map, in a major upheaval in US civil rights law that threatens to weaken the voting power of minorities.How have lawmakers reacted? Terri Sewell and Shomari Figures, who are now at risk of losing their seats in Alabama’s Black congressional districts, have decried the decision as sending the nation “backwards”.How did the ruling come to pass? It is the culmination of justices John Roberts and Samuel Alito’s joint campaign to roll back civil rights legislation.How could midterm maps be changed by redistricting? While the supreme court decision leaves little time to redraw maps ahead of the midterms, here is what midterm maps could look like if both parties achieve all their current redistricting ambitions. Continue reading...

In 2022, Aneil Karia won an Academy Award for his short starring Riz Ahmed. Now, he’s skewering Reform-style parliamentary candidates with the help of Jack Lowden and an unlikely online platformSome film-makers have unrealistic expectations for their work; Aneil Karia is not one of them. “I’m not deluded enough to think that it’s going to bring down the government,” he says of his new film, Vote Gavin Lyle – but you never know, it just might. A funny, clever, superbly acted, small-but-perfectly-formed satire, Vote Gavin Lyle stars Jack Lowden as a wannabe Reform-style parliamentary candidate for the fictional middle-England constituency of Fletcham and Wold. At just 16 minutes long, it absolutely skewers the far-right mindset; not the minority-bashing, flag-hoisting street thugs, but the cannier, well-spoken Farageists who dominate the tendency’s leadership.Without wanting to give away the film’s final flourish, it’s fair to say that there’s an element of empathy, even sympathy for its central character. Karia says: “I don’t think it’s interesting or useful to look at these people – far-right politicians, councillors, prospective candidates, whoever – and just say what nasty bastards they are. I think what strikes me about them is they’re just as vulnerable and scared as the rest of us. Continue reading...

Decision not to change rate comes despite signs inflation is rising amid the Iran war’s effects on fuel pricesThe Bank of England has left UK interest rates unchanged at 3.75%, despite signs that inflation is beginning to accelerate due to the impact of the Iran war.The Bank’s rate-setting monetary policy committee (MPC) voted to leave borrowing costs on hold at noon on Thursday, after its latest rate-setting meeting. Continue reading...

Arrest of potential next leader found hiding in drainage pipe highlights renewed tactics – and fears of cartel infightingUS politics live – latest updatesThe golden coffin of “El Mencho”, the late leader of the Jalisco New Generation cartel (CJNG), had barely been lowered into the ground when the Mexican military dealt a second blow to the very top of the organisation this week.As special forces descended on a ranch in the state of Nayarit, grainy drone footage showed El Mencho’s possible successor, Audias Flores, alias “El Jardinero”, being hauled from a drainage pipe he had tried to hide in, all without a shot being fired. Continue reading...

With voter loyalty a distant memory, the Lib Dems’ cost of living policies and criticism of Trump could gain them ground It has been an election buildup dominated by the rise of Reform UK and the Greens, and the contrasting woes of Labour and the Tories. But there is a chance that on 8 May the Liberal Democrats, largely ignored in recent weeks, could wake up as the biggest party in English local government.This is just one of several paradoxes for the party’s leader, Ed Davey, and his team. They are fifth in many national polls, with a rating barely changed from 2024. But Lib Dem bosses are sanguine, convinced that UK politics is now so different, so atomised, to make headline polling almost irrelevant. Continue reading...

Nearly 60 countries back voluntary roadmaps to wean world off coal, oil and gasGovernments have been asked to develop national “roadmaps” setting out how they will end the production and use of fossil fuels, after a landmark climate meeting involving nearly 60 countries.The voluntary plans will form the bedrock of a new initiative to wean the world off coal, oil and gas, the focus of two days of intensive talks in Colombia this week. Continue reading...

The 155-page interim report released on Thursday shows how little is known – and can be shared – about the 14 December shootingGet our breaking news email, free app or daily news podcastIf there’s one thing that’s clear from the royal commission on antisemitism and social cohesion’s 155-page interim report, it’s how much about the Bondi massacre remains unknown – and how little of what is known can be shared with the public.More than a third of the recommendations from the report – which was released on Thursday – were confidential, although the Albanese government plans to implement all of them. Continue reading...

Defense secretary to be quizzed by lawmakers on Senate armed services committee after bad-tempered session in House yesterdaySign up for the Breaking News US email Hello and welcome to our US politics coverage as Pete Hegseth faces a second day of grilling from Democrats on Capitol Hill, with senators getting their first opportunity to confront or praise the Pentagon chief over his handling of the Iran war.The defense secretary battled with Democrats - and some Republicans - yesterday during a nearly six-hour House armed services committee hearing, where he faced questioning over the war’s costs in dollars, lives and the diminishing stockpiles of critical weapons.US economic growth likely accelerated in the first quarter on a rebound in government spending after a crippling government shutdown. The anticipated increase in gross domestic product last quarter also would reflect robust growth in business investment in equipment, fueled by an artificial intelligence spending boom and the building of data centers underpinning the technology. Figures will be out at 8.30am ETKing Charles and Queen Camilla are expected to make stops in Virginia before wrapping up their US visit back at the White House on Thursday with a formal farewell from Trump. Charles will then travel solo to Bermuda on his first visit as king to a British overseas territory.Senate minority leader Chuck Schumer said that Democrats will once again force a vote on a war powers resolution on Iran, the sixth time in recent weeks. “This week, Democrats will force a vote on our war powers resolution for the sixth time. We’ll continue to force votes every week as this war rages on,” Schumer said from the Senate floor.The House approved a three-year reauthorization of a divisive US surveillance program ahead of its expiration on Friday, adding new oversight measures but stopping short of the warrant requirement that critics have demanded. A large group of Democrats joined most Republicans in passing the bill by a 235-191 vote.Trump once again reinforced his feelings towards James Comey in a social media post. Commenting on the accusation that the former FBI director called for him to be killed after posting a picture of some seashells in a pattern showing 86 47, Trump wrote: ““86” is a mob term for “kill him.” They say 86 him! 86 47 means “kill President Trump.”James Comey, who is a Dirty Cop, one of the worst, knows this full well! EIGHT MILES OUT, SIX FEET DOWN! Didn’t he also lie to the FBI about this??? I think so!”. Trump is the 47th president of the US.The US supreme court’s conservative majority struck down a major element of the Voting Rights Act which protects against racial discrimination in redistricting, in a ruling that paves the way for aggressive gerrymandering in states across the nation that could affect elections for years to come.The Florida Legislature approved a new congressional map intended to maximize Republicans’ advantage in the state as part of the national redistricting battle that Republicans launched ahead of this year’s midterms.Outgoing Federal Reserve chair Jerome Powell said he will stay on as a central bank governor when his leadership term ends in just over two weeks.The Department of Justice announced on Wednesday that three anti-ICE protesters have been charged with allegedly assaulting Savannah Hernandez, a rightwing video journalist who was shoved to the ground during a skirmish with three members of a family outside an immigration detention facility in St Paul Minnesota this month. Continue reading...

Move comes as airline industry reacts to uncertainty over Iran war and increase in price of Brent crudeBusiness live – latest updatesAir France-KLM has cut its capacity growth forecasts for this year as the Iran war drives up its fuel costs by billions of dollars.The French-Dutch airline expects its fuel bill to increase by $2.4bn (£1.8bn) this year as a result of the surge in costs since the Middle East conflict began. In response, it has trimmed its expectations for capacity growth to between 2% and 4% this year, down from 3% to 5% previously. Continue reading...