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Profits ahead of expectations but almost half of £283m impairment charge follows forecast reassessmentBusiness live – latest updatesNatWest said the economic fallout from the conflict in the Middle East could cost it £140m amid slowing growth and rising inflation even as it reported profits ahead of expectations.Overall, the FTSE 100 lender booked a £283m impairment charge and said that almost half of that was because of a reassessment of its economic forecast to “reflect increased geopolitical risk and weaker equity markets”. Continue reading...

EnComm Aviation says the firm’s action has cut off vital support for crisis-hit countries including South Sudan and the DRCBritain’s biggest weapons manufacturer, BAE Systems, is facing a £120m lawsuit after scrapping support for aircraft used to deliver aid to some of the world’s neediest countries.EnComm Aviation, a Kenya-based aid cargo operator, claims the decision forced the cancellation of humanitarian contracts and reduced supplies to South Sudan, now threatened by famine, Somalia and the Democratic Republic of the Congo (DRC), among others. 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...

• Gas prices have surged above $4 per gallon and flights skyrocketed as the Strait of Hormuz blockade impacts energy markets amid the US-Israel war with Iran, eroding Trump's key political advantage. • More than three-quarters of registered voters—including over half of Republicans and 82% of independents—now blame Trump for the cost-of-living crisis affecting fuel, groceries, housing, and healthcare. • Trump's second-term approval ratings have fallen far faster than previous presidents after a government shutdown, tariffs, and the joint US-Israel attack on Iran, with Federal Reserve Chair Jerome Powell warning the war is fueling inflation.

Niesr says even under best-case scenario, economy would grow at slower pace in 2026 and 2027 because of conflictBritain is facing a £35bn economic hit and the risk of a recession this year as the fallout from the Iran war adds to the pressure on Keir Starmer’s government, a leading thinktank has warned.The National Institute of Economic and Social Research (Niesr) said that even under a best-case scenario the UK economy would grow at a much slower pace this year and next because of the Middle East conflict. Continue reading...

‘Critical debate’ about party’s identity and direction looms if it loses control of Senedd next month after 27 years in powerWelsh Labour is the democratic world’s most successful election-winning machine, coming first in Wales in every general election since 1922 and every devolved election since 1999. Come next month’s Senedd election, however, this history-making run is expected to end.Labour’s collapse has left a vacuum, and former Labour voters are going to opposite ends of the political spectrum. Plaid Cymru and Nigel Farage’s Reform UK are neck and neck in the latest poll, although coalition maths make it highly unlikely Reform would be able to form a government. Continue reading...

• The Taliban government announced restrictions on international health NGOs operating in Afghanistan on Monday, citing concerns over 'political interference' and threatening revocation of licenses for non-compliant organizations. • Medical organizations warned that the restrictions would devastate maternal and pediatric health services, particularly in rural areas where international agencies provide 70 percent of healthcare capacity. • The U.S. State Department condemned the move as undermining humanitarian efforts and expressed concern for vulnerable populations, with officials exploring alternative delivery mechanisms for critical medical assistance.