Oil and gas prices jump after Iran and Israel attack gasfields

Close relatives of affected post office operators will be able to make claim over harm scandal caused families Family members of post office operators affected by the Horizon IT scandal will be able to claim compensation under a new government scheme.Campaigners have lobbied for compensation in relation to the harm the scandal has caused to the mental health and wellbeing of close relatives who have not been eligible under the redress schemes being run by the Post Office and the government. Continue reading...

Carriers warn they cannot hold off passing on costs for long and some airlines plan to increase flights via AsiaBusiness live – latest updatesEurope’s biggest airlines have said that that the spike in fuel prices caused by the war in the Middle East will drive up fares and are advising passengers to book early.While carriers have partly hedged the price of jet fuel, bosses said they could not avoid passing on additional costs to passengers for long. Continue reading...

Decision to hold interest rates is backed by gloomy assessment of economy as Iran war pushes up oil pricesBank of England holds interest rates at 3.75%Business live – latest updatesThe US-Israel attack on Iran has already driven prices higher and not just at the petrol pumps, the Bank of England said on Thursday in a gloomy assessment of the UK’s economic outlook.An inflation rate that was on track to fall from 3% to the Bank’s 2% target in the coming months is now expected to rise to 3.5%. That is one probable impact of the US and Israel’s war on Iran. Continue reading...

After a 1,088-day wait, a jury acquitted the man Nichols accused. She describes her experience of the system as a complainant – and explains why she went publicWarning: this article contains graphic testimonyCharlotte Nichols on her rape trial ordeal – podcastSitting in the House of Commons, waiting for the speaker to call her name last week, the MP Charlotte Nichols was doing breathing exercises to try to keep calm. “I was just trying to get myself into the headspace where I could say what I wanted to say without either completely garbling it or just crying or bottling it at the last minute.”She didn’t bottle it. She stood up, asked MPs to be gentle with her, and then went public with her biggest secret. Continue reading...

Irish rape crisis charities call display ‘an act of public grooming’ that normalises sexual violenceRape crisis charities in Ireland have condemned a St Patrick’s Day float that mimicked a sexual assault and had signs saying “Epstein files”.Rape Crisis Ireland called the display “an act of public grooming” that normalised sexual violence. Politicians branded it a disgrace. Continue reading...

Chair Heather Hallett says pandemic had devastating impact due to NHS being in ‘parlous state’ at timeThe NHS “teetered on the brink of collapse” during the Covid pandemic, and only just coped thanks to the “superhuman” efforts of healthcare workers, an official inquiry has concluded.In a damning assessment of how the UK’s healthcare systems coped with the pandemic, the Covid-19 inquiry chair, Heather Hallett, said the impact was “devastating” due to the NHS being in a “parlous state” before the outbreak of the virus.The NHS entered the pandemic with low bed numbers, high numbers of staff vacancies and high bed occupancy, meaning it was already in a “precarious position” and ill-prepared to deal with a pandemic.There was not enough PPE at the start of the pandemic, meaning healthcare workers had to put themselves and their families at risk to care for patients.Infection control in the early stages of the pandemic was flawed as it assumed Covid-19 was spread by physical contact, rather than being airborne.The “stay home, protect the NHS, save lives” public message may have inadvertently led to a decline in hospital attendance of life-threatening emergencies such as heart attacks.80% of healthcare professionals said they acted in a way that conflicted with their values during the pandemic, with some saying they felt they were “playing God” as they were unable to give everyone the treatment they needed. Continue reading...

Covid-related downturns and reductions in alcohol consumption have taken a toll on a once booming industryIn the early 2000s, Chris Bell, then a student at University of Colorado Boulder, followed a common path among people interested in brewing beer. He started doing so at home, then spent years working at established craft beer makers Long Trail Brewing in Vermont and Avery Brewing in Colorado before opening Call to Arms Brewing Company in 2015 in Denver.In a crowded market, the business was successful. Its More Like Bore-O-Phyll beer won a gold medal in the fresh or wet hop ale category at the 2018 World Beer Cup. A local outlet called it one of the city’s best breweries, and it had a 4.7 rating from more than 400 reviews on Google. Continue reading...

Reform UK leader’s remarks in Cameo clip risk damaging party’s ambitions in upcoming Welsh electionsFarage videos reveal support for rioter, neo-Nazi event and far-right slogansNigel Farage described Welsh people as “foreign speakers” in a paid-for personalised video message that could prove awkward for Reform UK in forthcoming elections in the country.Farage made the remarks in a video he was paid to make on Cameo, a personalised video platform, to celebrate a wedding. Continue reading...

Paul Griggs says senior staff at consulting firm who are not ‘paranoid about being AI-first’ are likely to be replacedBusiness live – latest updatesThe US boss of PricewaterhouseCoopers has warned that partners who do not get to grips with AI have no future at the consulting firm.Paul Griggs said senior staff who were not “paranoid about being AI-first” would probably be replaced by others who were ready to embrace the technology. Continue reading...

Decision comes as concerns mount over economic fallout from conflict bringing fresh cost of living shockBusiness live – latest updatesThe Bank of England has kept interest rates on hold amid growing fears over an inflation shock triggered by the US-Israel war on Iran.As households brace for a rise in living costs, the Bank’s rate-setting monetary policy committee (MPC) voted by a majority to keep its key base rate at the current level of 3.75%. Continue reading...

Energy company plans full return to London by moving global HQ to new development on South BankBusiness live – latest updatesBP has agreed to sell its giant German oil refinery site in Gelsenkirchen to investment firm Klesch Group as part of the British oil company’s plan to sell off $20bn (£15bn) worth of assets and cut its costs.The value of the sale was not disclosed but BP said it would save the oil company about $1bn of underlying operating expenditure at the complex, which processes about 12m tonnes of crude oil every year, mainly as fuel for cars and aircraft. Continue reading...

The move would be a major escalation in the US-Israel war against Iran. Plus, FBI director admits to buying data tracking Americans’ locationsGood morning.Donald Trump threatened to “massively blow up” the world’s largest gasfield after Israeli strikes on Iran’s South Pars field led Tehran to take revenge on energy facilities across the Middle East.What’s happening to oil and gas prices? Brent crude rose by 8% to $116 a barrel. European gas prices jumped, with the Dutch wholesale gas price up 24%.What do we know about the war’s economic cost? The war cost the US $12.7bn by day six – the total is likely to have now exceeded $18bn. Here’s a visualization of how that has been spent.Could US-Israeli attempts to take out Iranian leaders backfire? Some analysts think so. “It is not an approach that produces Jeffersonian democrats but hardened resistance fighters. It breeds more resistance,” said Sanam Vakil, an Iran expert at Chatham House.Follow our live coverage here.Who has spoken out? Labor rights activist and co-founder of the UFW Dolores Huerta, 95, released a statement on Wednesday saying: “I have kept this secret long enough. My silence ends here.” The report also includes the stories of two women, who were daughters of organizers in the movement, who said they were children when the grooming and abuse began. Continue reading...