Price

• Euro zone economic activity shrank at its fastest rate in over two-and-a-half years during May, according to survey data released Thursday. • The downturn was driven by a war-induced surge in energy prices and living costs, which severely stifled demand for services across Europe. • In response to the economic shock, firms have begun accelerating layoffs to manage the decline in activity.

• GIFT Nifty indicates a positive start for the BSE Sensex and Nifty50 as they enter the final trading session of the week this Friday. • The market is currently navigating volatility driven by high crude oil prices and geopolitical uncertainty surrounding the US-Iran conflict. • Market analysts emphasize that the indices must sustain positions above key resistance levels to confirm a broader, stronger recovery trend.

EPA is loosening Biden-era rule that requires US businesses to reduce greenhouse gases used in cooling equipmentThe Trump administration is set to loosen a federal rule that requires grocery stores and air-conditioning companies to reduce greenhouse gases used in cooling equipment, in what officials say is a push to lower grocery costs.The head of the Environmental Protection Agency, Lee Zeldin, said the Biden-era rule imposes costly restrictions that limit the type of refrigerants US businesses and families can use. Continue reading...

Stuart Machin argues government should reduce tax and regulatory burden on supermarkets insteadThe boss of Marks & Spencer has called a government proposal for voluntary price caps on essential food items “completely preposterous”, saying it should reduce tax and regulatory burdens instead.Stuart Machin, the chief executive of the clothing, homewares, food and beauty retailer, said M&S already lost money on some basic items such as milk, bread and baked beans and made very slim profits on other products such as eggs and sugar. Continue reading...

President says $400m building costs to be funded by private donors, but has asked for taxpayers to cover security costsShouting over the banging and clanging sounds from heavy construction equipment, Donald Trump on Tuesday gave a group of reporters a closer look at the construction for the White House ballroom he’s building on the site of the former East Wing to mount a defense of the project that has hit a speed bump in Congress.The administration has asked for $1bn from taxpayers for security additions on the White House campus, including for the ballroom. But the Senate parliamentarian ruled the proposal could not be included in a bill to fund immigrant enforcement agencies for three years, and several Republican lawmakers have balked at the price tag in an election year where voters are grappling with gasoline, grocery and other prices spurred to new heights by the Iran war and the disruption in oil supplies. Continue reading...

Retail sources rebuff government proposal as ‘unjustified’ and likely to push costs up across boardUK supermarkets have been asked by the government to consider putting a price freeze on some essential foodstuffs to protect the public from inflation fuelled by the Middle East conflict.Retailers rejected the plan, criticising its potential costs amid rising taxes, fuel and energy costs and arguing it could push up prices for shoppers overall. Continue reading...

Households ‘increasingly gloomy’ about finances amid fears of interest rate rises due to higher fuel pricesBusiness live – latest updatesRising prices have become the top financial concern for UK households, according to a monthly consumer confidence survey, before Wednesday’s official figures, which are likely to show inflation remaining stubbornly high.Amid fears of higher interest rates owing to increased fuel prices after the closure of the strait of Hormuz amid the conflict in the Middle East, households have become “increasingly gloomy about their financial situation”, the report said. Continue reading...

Trump warning over peace talks drives up crude price as UK gilts hit by uncertainty over Starmer leadershipBusiness live – latest updatesOil prices rose and global bonds wobbled on Monday, as fresh tensions in the Middle East fed inflation fears and bets that central banks will have to increase interest rates.Brent crude, the international benchmark for oil, rose on Monday, after an attack on a nuclear power plant in the United Arab Emirates. Continue reading...

Two campaign groups claim that change to how NHS treatments are approved amounts to ‘unlawful power grab’Campaigners against the UK’s controversial drug pricing deal with Donald Trump are threatening the government with legal action unless it scraps a key element of the plan.They claim that a change to how drug treatments are approved for use by the NHS, which could lead to it paying even higher prices for them, amounts to an “unlawful power grab”. Continue reading...

• The Producer Price Index (PPI) for final demand increased 1.4 percent in April 2026, according to the Bureau of Labor Statistics, with prices rising 6.0 percent over the 12-month period. • Final demand services advanced 1.2 percent while final demand goods increased 2.0 percent, showing divergence in price pressures across economic sectors. • The April PPI data signals persistent inflationary pressures in producer-level pricing, which often precedes consumer price increases and informs Federal Reserve monetary policy decisions.

• The ongoing conflict in the Middle East has driven up oil prices, expected to slow US economic growth compared to a no-conflict baseline scenario, according to Deloitte analysis. • Despite pressures from elevated energy costs, US firms are unlikely to materially reduce investment plans due to resilient growth in AI and technology sectors. • Higher oil prices will affect US consumers through increased costs, though broader economic resilience from AI investments may mitigate some impacts.

• U.S. stock markets declined Tuesday with the S&P 500 falling 0.9% from record highs as technology stocks weakened and oil prices continued rising amid uncertainty over the Iran conflict. • Benchmark U.S. crude jumped $3.43 to $101.50 per barrel, while Brent crude climbed $3.62 to $107.83 per barrel, as President Trump said the U.S.-Iran ceasefire was on "life support" after rejecting Iran's latest peace proposal. • Brent crude has surged 50% from pre-war levels around $70, contributing to inflation pressures globally and straining U.S. households through higher gasoline and goods prices tied to new tariffs.

Prices rose 3.8% over the last year, according to Bureau of Labor Statistics data, highest jump since 2023Sign up for the Breaking News US newsletter emailUS inflation jumped to 3.8% in April as the war in the Middle East continued to drive energy prices and everyday costs for Americans.Prices rose 3.8% over the last year, according to the data from the Bureau of Labor Statistics, the highest jump since 2023. Continue reading...

• A failed peace proposal over the weekend propelled oil prices and 10-year Treasury yields higher on Monday morning, with equity futures opening modestly lower. • Markets shrugged off geopolitical risks last week as oil declined on Iran ceasefire comments, but renewed tensions reversed that trend amid global energy volatility. • Gas prices rose nationwide, complicating inflation outlook with headline CPI above 3.5% despite easing core PCE, dimming Fed rate cut prospects.

National average for gas prices has risen by well over a dollar per gallon since late FebruarySign up for the Breaking News US newsletter emailDonald Trump pledged to suspend the US federal gas tax in a bid to reduce pressure on Americans after the US-Israel war on Iran sparked a sharp rise in fuel prices.The US president told reporters on Monday that his administration would look to pause the tax “till it’s appropriate”, as drivers count the cost of the surge in oil prices in the two months since US and Israel forces attacked Iran. Continue reading...

• Indian equities are expected to remain highly sensitive to geopolitical developments this week, with markets tracking the ongoing US-Iran situation and fluctuating crude oil prices that could trigger sharp movements in large-cap stocks. • Foreign investors have withdrawn Rs 14,231 crore from Indian equities so far in May amid global macroeconomic uncertainties, signaling reduced confidence in the market amid external headwinds. • Key macroeconomic releases this week include India's April CPI inflation data and US inflation prints (CPI and PPI), which analysts warn could materially shape Federal Reserve rate-cut expectations and global risk sentiment.

Carmaker gives one of biggest warnings yet of conflict’s impact on businesses while Trump tariffs also take tollToyota has reported a £3bn hit from costs from the war in Iran, as prices of parts and materials soared and sales dropped.The world’s biggest carmaker said profits declined in its financial year to March as it was “likely unable to absorb newly added impact from the Middle East”, in one of the largest warnings yet of the war’s impact on businesses. Continue reading...

• Asian stock markets fell broadly on Friday as renewed clashes between the US and Iran strained ceasefire efforts, with missile and drone attacks prompting US retaliatory strikes on Iranian military facilities. • Tokyo's Nikkei 225 dropped 1.1% to 62,174, retreating from a record high of 62,833 reached Thursday, while SoftBank Group lost over 5% and Hong Kong's Hang Seng fell 1.3% to 26,289. • Oil prices climbed amid Middle East uncertainty, with Brent crude rising 1.1% to $101.13 per barrel—roughly 44% higher than pre-war levels in late February.

• The S&P 500 fell 0.4% or 28.01 points to 7,337.11 on Thursday, retreating from its all-time high, while the Dow dropped 313.62 points or 0.6% to 49,596.97 and Nasdaq slipped 0.1% or 32.75 points to 25,806.20. • Oil prices yo-yoed due to Wall Street's waiting on hopes for a deal to end the Iran war, with earlier sharp swings from dashed expectations of reopening the Strait of Hormuz; Iran created a government agency to vet and tax vessels passing through, potentially raising fuel costs. • Standouts included Axon Enterprise rallying 10.6% after raising its revenue forecast due to counter-drone product growth, and Albemarle rising 3% on better-than-expected results, while Shake Shack tumbled 28.3% and Whirlpool fell 11.9% on weak earnings.

• A new U.S. diplomatic proposal to Iran offers potential 'good news' for American gas prices by easing Strait of Hormuz blockade fears. • Analyst John Smith noted the deal could stabilize oil flows, projecting a 10-15 cent per gallon drop if accepted. • Amid ongoing U.S.-Iran frictions, this initiative matters for reducing inflation pressures and supporting consumers hit by recent spikes.

Halifax says cost of typical home fell by 0.1% in April, the second consecutive monthly drop, with pace of annual growth down from 0.8%. to 0.4%Business news – live updates UK house prices fell for a second consecutive month in April, as Halifax halved its estimate for the annual rate of growth due to the conflict in the Middle East.Halifax, which is part of Lloyds – Britain’s biggest mortgage lender – said that the cost of a typical UK home fell by 0.1% in April, to £299,313. This followed a 0.5% fall in March. Continue reading...

• Asian stock markets retreated from recent record peaks as escalating Middle East tensions revived concerns over crude oil supply disruptions and energy price stability. • The geopolitical escalation triggered steep losses in oil markets, reversing earlier gains and creating volatility across regional equity indices. • Rising energy supply concerns underscore the fragility of the recent market rally despite strong AI sector performance, with investors reassessing risk exposure to conflict-affected regions.

• U.S. gas prices have surged recently, hitting lower-income Americans the hardest amid ongoing economic pressures from geopolitical tensions including the Iran conflict. • The New York Times reports that the price spike exacerbates inequality, with lower-income consumers facing steeper relative burdens on household budgets. • President Trump's claim that the U.S. won the war with Iran has drawn scrutiny, potentially influencing energy markets and public sentiment on fuel costs.

Retail group with 4,800 stores worldwide expects drop in profits this year amid ‘muted market’Business live – latest updatesThe sports fashion retailer JD has warned that profits will fall this year amid a “muted market” hit by weaker spending by young people and concerns about the Middle East conflict.The company, which runs 4,800 stores worldwide including the JD, Blacks and Millets chains in the UK, said it expected profits of between £750m and £850m in the year ahead, after reporting £852m in the year to the end of January. Continue reading...

• Brent crude futures rose 88 cents or 0.9% to $102.15 a barrel, while WTI advanced $1.12 or 1.2% to $96.20, trimming prior 7% losses after US President Donald Trump called direct talks with Iran premature. • A senior Iranian lawmaker dismissed the US peace proposal as a 'wish list' rather than practical, amid demands to halt Tehran's nuclear program and reopen the Strait of Hormuz. • Markets assess if Middle East peace efforts will succeed, with strategist Hiroyuki Kikukawa noting discussions may continue until the US-China summit but uncertainty persists afterward.

Powerful property and farming firm Grosvenor Group says knock-on effect of Iran war could arrive next yearFertiliser shortages caused by the Iran war have driven up costs for UK farmers by up to 70% and will have a “dramatic” impact on food prices globally next year, according to one of Britain’s most powerful property and farming companies.Mark Preston, executive trustee of the 349-year-old Grosvenor Group, controlled by the Duke of Westminster, said fertiliser “was already quite expensive” before the 50% to 70% surge in prices since the start of the Iran war in late February. Continue reading...

• Indian equity indices surged sharply on May 6, 2026, with Sensex gaining 940.73 points (1.22%) to close at 77,958.52 and Nifty rising 298.15 points (1.24%) to 24,330.95, driven by optimism over potential US-Iran peace negotiations and declining crude oil prices. • Banking stocks led the rally following the Union Cabinet's approval of an emergency credit guarantee programme worth Rs 15,800 crore to support businesses facing liquidity stress, with Hero MotoCorp climbing 2.6% and Mahindra & Mahindra advancing 3.1% on strong quarterly earnings. • Broader market indices also gained traction, with Nifty smallcap100 and midcap100 rising 0.9% and 1.1% respectively, though FMCG stocks declined amid easing geopolitical tensions in West Asia that had previously pushed Brent crude to $115 per barrel.

• Average US gasoline prices have climbed to $4.50 per gallon, marking the highest level since 2022 and reflecting broader energy market pressures linked to Middle East tensions and OPEC production decisions. • The price surge comes amid ongoing negotiations between the Trump administration and Iran, which have created uncertainty in global oil markets and affected domestic fuel costs. • Energy analysts attribute the increase to geopolitical risk premiums, reduced supply confidence, and reduced refinery capacity following seasonal maintenance.