US understood not to be invited directly to talks that will explore ways of reopening critical waterwayMiddle East crisis – live updatesThe UK will convene 35 countries – excluding the US – to explore ways to reopen the strait of Hormuz, the vital shipping route for oil and gas that has been blocked by Iran.Keir Starmer, the prime minister, said the next phase of discussions in the joint British and French efforts to secure the waterway would be held on Thursday, with Yvette Cooper, the foreign secretary, alongside international leaders. Continue reading...
Consumers brace for ‘awful April’ and Iran war cost hikes, which have pushed UK’s gas market past three-year highs Households in Great Britain could see their energy bills increase by about £290 a year to almost £2,000 from this summer in a “tough pill to swallow” for consumers already braced for a volley of “awful April” cost hikes from Wednesday.A typical gas and electricity bill is now forecast to reach £1,929 a year from July under the industry regulator Ofgem’s quarterly price cap, according to analysis by the energy consultancy Cornwall Insight. Continue reading...
Energy minister Michael Shanks reassures drivers ahead of chancellor’s statement to MPsGood morning. At lunchtime Rachel Reeves, the chancellor, will give a statement to MPs that will cover what the government is doing, and (more tentatively) might do, in response to the soaring global energy prices caused by the Iran war. After Russia invaded Ukraine in 2022, also creating a global energy shortage, the Conservative government ended up spending £40bn supporting families and firms with energy bills over the following winter. Reeves’s problem is that she has not got £40bn spare. With spring upon us, and people starting to turn down their central heating, the issue may not seem particularly pressing in many households (although heating oil and petrol prices are already soaring.) But, by the end of this year, this could be the sort of colossal economic crisis that gets remembered for half a century.As Chris Mason explains in a good preview, Reeves is expected to cover three points. She is expected to confirm that the government wants to give the Competition and Markets Authority new powers to deal with any potention profiteering by oil companies. She will confirm that the government wants to go “further and faster to secure the next generation of nuclear power and to reclaim Britain’s place as a leading nuclear nation” (as the Treasury puts it in its overnight preview).[Drivers] should do everything as absolutely normal because there is no shortage of fuel anywhere in the country at the moment. We monitor this every single day, I look at the numbers personally. There’s no issue at all with that …People should go about their business as normal. That’s what the RAC and the AA have said. It’s really important people do that. There’s no shortage of fuel and everything is working as normal.Look genuinely, people shouldn’t change their behaviour or their habits in the slightest. Continue reading...
Contract affords AI analytics firm access to trove of data on one of the most important financial centres in the worldPalantir extends reach into British state as it gets access to sensitive FCA dataPalantir’s latest UK contract takes the AI and data analytics company into the heart of one of Britain’s biggest industries: financial services, which accounts for 9% of the economy.The Miami-based company embedded its technology in the NHS in 2023, the police in 2024 and the military in 2025. Land and expand, they say in the tech industry. Palantir has followed the script building contracts worth more than £500m. Continue reading...
Steve Reed says ‘UK is not going to be dragged into this war’ after Israeli warnings that Iranian missiles could hit EuropeMiddle East crisis live – latest updatesIran is not believed to have the capability or intent to hit the UK with its missiles, a cabinet minister has said, after Tehran aimed two at the UK-US airbase on Diego Garcia in the Indian Ocean.One missile failed to reach the island, while another was shot down by a US warship, according to reports. It was the longest-range attack yet by Iran since the country was attacked by the US and Israel. Continue reading...
Bypassing animal health certificate system by using cheaper pet passport issued abroad could backfire, experts sayBritish pet owners who want to take their furry friends elsewhere in Europe have been warned not to try to dodge expensive health certificates by using a pet passport issued abroad.Before Brexit, taking a cat, dog or ferret to the EU was relatively simple: the Pet Travel Scheme meant an animal needed a microchip, vaccination against rabies, a pet passport and, for dogs, there were also requirements concerning tapeworm treatment. Continue reading...
Consultancy’s forecast of £1,972 annual dual fuel bill follows conflict pushing UK’s gas market past three-year highsBusiness live – latest updatesHousehold energy bills in Great Britain could soar by more than £330 a year to almost £2,000 from this summer after the war in Iran pushed the UK’s gas market past three-year highs.A typical combined household gas and electricity bill is now forecast to reach £1,972 a year from July under the UK government’s quarterly price cap, according to analysis by Cornwall Insight, an energy consultancy. Continue reading...
Exclusive: England and Wales Greens leader outlines economic policy including help to meet rising energy costs and water re-nationalisationSuccessive governments have turned the UK from a manufacturing economy to one where the basics of life have been privatised and are rented back to people at a crushing cost, Zack Polanski will say.In a speech billed as the Green leader’s biggest policy intervention since he took over as leader six months ago, Polanski will argue that decades of gradual economic rebalancing in favour of a minority who own assets has left much of the country vulnerable to economic shocks such as the current rise in fuel prices. Continue reading...
If costs stay high for the next three months, US owner Peter Huntsman says he will close the site on TeessideThe American owner of one of Britain’s last major chemicals plants has said he will close the site if energy prices remain at their current levels for the next three months.Peter Huntsman, whose family built Huntsman Corporation into a global chemicals empire, said the recent jump in gas prices fuelled by the Iran conflict was “another nail in the coffin” for European heavy industry. Continue reading...
