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• A US fighter jet was shot down over Iranian territory on April 3, 2026, intensifying the US-Israeli war on Iran that began with airstrikes on February 28 targeting nuclear sites and leadership. • The incident prompted immediate retaliatory concerns, with Bitcoin prices wavering amid rising geopolitical risk premiums affecting crypto markets globally. • Iran's closure of the Strait of Hormuz has triggered the largest oil supply disruption since the 1970s, spiking energy prices and impacting US economy.

Military pilots said F-15 crew member would be trying to hide for as long as possible from the Iranian militaryUS search and rescue efforts for the missing second crew member of the downed F-15E fighter jet continued into a second day as Iran came under heavy bombing and Israel extended the war in Lebanon.A pilot had been rescued on Friday after the F-15E Strike Eagle became the first US plane to be downed over Iran during the five week long war, but the second of the two strong crew has not been accounted for. Continue reading...

• Two U.S. fighter jets were downed by Iranian fire, with one pilot successfully rescued following an active search and rescue mission in the ongoing Iran conflict. • Two Black Hawk helicopters were also struck by incoming Iranian fire during operations, according to defense officials. • Defense Secretary Pete Hegseth has maintained that U.S. forces have significantly degraded Iran's air defense capabilities in recent weeks.

Iran’s Revolutionary Guard Corps said it was combing an area near where plane came down in south-western Iran; Israeli military strikes ‘Hezbollah infrastructure’ in Lebanon capitalUS F-15E jet confirmed shot down over Iran as Tehran releases wreckage imagesHello and welcome to our continuing live coverage of the US-Israeli war on Iran and its impact on the region, the world and the global economy.Iranian and American forces were racing each other early on Saturday to recover a crew member of the first US fighter jet to go down inside Iran since the start of the war.Tehran rejected a US proposal for a 48-hour ceasefire, said Iran’s semi-official Fars news agency, citing an unnamed source. There was no immediate comment from the US. Earlier, the Wall Street Journal reported that Iran had officially told mediators it was unwilling to meet with US officials in Islamabad in the coming days.The UN force in Lebanon said a blast at one of its positions had wounded three peacekeepers, two of them seriously, in the third such incident in a week.Israeli fire killed a man in Syria’s Quneitra province in the south near the Israeli-occupied Golan Heights, Syrian state media said. The man was killed in an attack by “an Israeli tank”, the Sana agency said, while state TV said a car was targeted.An Egyptian national was killed and four others wounded after a fire at a gas complex in Abu Dhabi, caused by falling debris from an intercepted attack, the government media office said. Two of the four people hurt were from Egypt, while the others were from Pakistan, it said.Trump asked lawmakers to approve a $1.5tr defence budget for 2027 as the US faces rising costs from its war with Iran and mounting global security commitments. The proposal would lift Pentagon spending by more than 40% in a single year – the sharpest increase since the second world war.The US embassy in Lebanon said Iran and allied groups could seek to target universities in the country, where Tehran-backed Hezbollah is at war with Israel and Israeli troops are carrying out a ground invasion.Three tankers, including one co-owned by a Japanese company, crossed the strait of Hormuz by hugging close to Oman’s shore –a rare transit route – maritime traffic data showed on Friday. With agencies Continue reading...

Downing of fighter plane – the first shot down over Iran since start of war – prompts frantic US rescue effort A US F-15E fighter has been shot down over Iran, prompting a frantic US search and rescue effort for its two-strong crew, in the first such incident since the start of the war.Images of a tail fin and other debris were released by Iranian state media early on Friday accompanied by an initial claim that an advanced US F-35 and been hit by a new air defence system over central Iran and the pilot probably killed. Continue reading...

Anna Turley questions Reform UK leader’s revised £25,000 figure for failed attempt to reach Chagos Islands on plane linked to billionaire donorLabour has queried Nigel Farage’s claim that a return trip to the Maldives on a private jet linked to a billionaire donor cost as little as £25,000 as the Reform leader attempted to reach the Chagos Islands.Farage initially recorded his two-day trip to the Maldives as costing £12,500 funded by Thailand-based Reform megadonor Christopher Harborne, before upgrading this to £25,000 in the latest register of interests. Continue reading...

Michael O’Leary says UK’s reliance on Kuwait for jet fuel supply amid Iran war exposes it to possible shortagesThe UK is the most vulnerable country in Europe to potential jet fuel shortages as the Iran war throttles supplies from the Gulf, the boss of Ryanair has said.Michael O’Leary, the chief executive of the budget airline, said Britain would be the most exposed to jet fuel shortages because it relies on Kuwait for about 25% of its supply. Continue reading...

• Sysco shares plunged 12% following the announcement of a $29 billion acquisition of Jetro Restaurant Depot, including debt, in a major foodservice industry deal. • The deal aims to expand Sysco's market reach but sparked investor concerns over the high cost and integration risks amid volatile markets. • This merger highlights consolidation trends in the restaurant supply sector, potentially impacting competitors and pricing dynamics.

South Korea’s transport ministry says domestic airlines have asked authorities to redirect export-bound jet fuel back to the local market amid a supply crunch• Get our breaking news email, free app or daily news podcastSouth Korean airlines have asked their government to help redirect jet fuel exports to the domestic market, threatening half of Australia’s imports of the critical fuel after Chinese authorities earlier this month flagged export restrictions.Amid deepening concerns across Asia about the impact of the escalating Middle East conflict, an official at South Korea’s transport ministry told the Guardian that “some domestic carriers” had asked authorities to redirect export-bound jet fuel back to the local market due to supply concerns. Continue reading...

Airline has hedged much of fuel into 2027, avoiding soaring prices, but costs likely to hit passengers by end of summerBusiness live – latest updatesThe boss of easyJet has said the war in the Middle East has started to hit flight bookings, while the soaring price of oil would probably mean a rise in air fares by the end of the summer.The chief executive, Kenton Jarvis, said that while the airline had hedged much of its fuel into next year, avoiding soaring kerosene prices, it was “unavoidable” that some of the costs would be passed on in fares. Continue reading...

• An Air Force F-35 stealth fighter jet was hit by enemy fire during a combat mission over Iran, with sources confirming the pilot is now in stable condition after ejection. • The incident highlights risks to advanced US aircraft as the US-Israeli air campaign enters its third week, targeting Iran's nuclear and missile infrastructure. • Israeli PM Netanyahu claimed on March 19 that Iran has lost all uranium enrichment and ballistic missile production capacity due to sustained strikes.