Brent crude jumps 6.5% as US president vows to hit Iran ‘extremely hard’ over coming weeksBusiness live – latest updatesOil prices soared and stocks sank after Donald Trump vowed in a televised speech to hit Iran “extremely hard” over the coming weeks, knocking investors hopes of a near-term end to the conflict in the Middle East.Brent crude prices jumped by 6.5% on Thursday morning to more than $107.6 a barrel, reversing Wednesday’s drop when hopes of a de-escalation pushed the international benchmark below the $100-a-barrel mark at one point. Continue reading...
Prime minister threatens to withdraw NHS training posts for residents doctors if they don’t call off strikeGood morning. Keir Starmer is chairing a meeting of the government’s Cobra emergency committee later to discuss the Iran war, but domestic issues don’t go away and he (or, to be more accurate, his staff) have also found time to write an article for the Times delivering a warning to resident doctors in England planning to go on strike. As Jamie Grierson reports, the PM is threatening to withdraw an offer of thousands of extra NHS training posts for resident doctors if they do not call off the strike within 48 hours.Judging by what Dr Jack Fletcher, chair of the BMA resident doctors committee, told the Today programme in an interview this morning, Starmer may have as little success with his ultimatum as Donald Trump seems to be having with his inconsistent and increasingly apocalyptic warnings to what is left of the Iranian government.I’m very happy to sit down with the government at any point to try and negotiate a settlement, but I don’t think that’s done by writing in newspapers and issuing threats unilaterally.The government made very late changes to the pay offer, reducing the pay investment and stretching it over a longer period in a way that had not been previously talked about.Ministers effectively moved the goalposts on the deal at the last minute.Two weeks ago, the government took that investment, reduced it, and then stretched it over three years. That is a very, very, very different outcome to the one that we were discussing just two weeks ago. Continue reading...
Kuwait says fire broke out after Iranian attack on giant tanker and warns of possible oil spill in surrounding watersHello and welcome to our continuing live coverage of the US-Israel war on Iran and its impact on the region, the world and the global economy.Iran attacked and set ablaze a fully loaded crude oil tanker off Dubai on Monday while Donald Trump warned the US would obliterate Iran’s energy plants and oil wells if it did not open the strait of Hormuz.Blasts were heard in Tehran and power cuts hit some areas of the capital, Iranian media reported on Tuesday. Israel earlier carried out missile strikes on what it called military infrastructure in Tehran and infrastructure used by Iran-backed Hezbollah in Beirut, leaving black smoke hanging over the Lebanese capital.Two successive Iranian missile launches targeted central Israel, the Times of Israel reported, quoting the emergency service as saying it had not received any reports of injuries.Turkey reported a ballistic missile launched from Iran had entered Turkish airspace before being shot down by Nato air and missile defences.Oil prices were headed on Tuesday for a record monthly rise while Asian shares were headed for their steepest fall since 2022, capping a tumultuous month as the war fanned fears of higher inflation and slower growth. Bonds were headed for their largest decline in months, while the dollar recorded its strongest gain in eight months.The US national average retail price of fuel crossed $4 a gallon for the first time in more than three years on Monday, data from price-tracking service GasBuddy showed, as tightening global supplies pushed US crude prices above $101 a barrel.Three UN peacekeepers from Indonesia were killed in two separate incidents in southern Lebanon.Thousands of soldiers from the US Army’s elite 82nd Airborne Division have started arriving in the Middle East, two US officials told Reuters. , as part of a reinforcement that would expand Trump’s options to include the deployment of forces inside Iranian territory, even as he pursues talks with Tehran.The White House later said talks with Iran were progressing and Trump wanted to reach a deal with Tehran before a 6 April deadline he set last week after extending an earlier deadline he had set for Iran to open the largely blocked strait of Hormuz oil route.Trump had told aides he is willing to end the military campaign against Iran even if the strait or Hormuz remains largely closed and leave a complex operation to reopen it for a later date, the Wall Street Journal later reported.Iran said on Monday it had received US peace proposals via intermediaries and that they were “unrealistic, illogical and excessive”. Continue reading...
Flash flooding threatens the wheatbelt region and Perth, as weather system expected to continue south-east from Geraldton on SaturdayGet our breaking news email, free app or daily news podcastEx-Tropical Cyclone Narelle was downgraded to a tropical low on Saturday morning after making landfall in Western Australia on Friday.Storm-ravaged communities were warned not to let their guard down, however, as residents along the state’s coastline prepared to assess the trail of damage along the Pilbara and North West Cape. Continue reading...
• Three historical factors that preceded double-digit stock-market declines are present simultaneously in 2026, according to DataTrek co-founder Nicholas Colas, signaling heightened risk for U.S. equity investors.
• The S&P 500 has dropped 4.7% in March alone and is down 4.2% year-to-date, on track for its worst monthly performance since March 2025 and first quarterly loss since Q1 2025.
• Despite warning signs, Colas maintains a cautiously optimistic outlook, stating there is still time to avoid a double-digit loss if Middle East tensions de-escalate swiftly and crude-oil prices decline.
Speaking after signing trade agreement in Canberra, the European Commission president warns ‘situation is critical’ for global energy supplyGet our breaking news email, free app or daily news podcastThe US and Iran must come to the negotiating table to immediately end the de facto closure of the strait of Hormuz and stop hostilities in the Middle East, the head of the European Commission says.Ursula von der Leyen, the European Commission president, said Iran’s efforts to block the strategic waterway via attacks on unarmed commercial vessels and critical infrastructure “must be condemned”. Continue reading...
• The S&P 500 dropped approximately 1%, Nasdaq slid 2.3%, and the Dow remained slightly higher on Wednesday as technology led a broad risk-off move triggered by renewed AI disruption fears and weak corporate guidance.
• AMD plunged nearly 17% on disappointing outlook, dragging the semiconductor complex lower with Broadcom falling 7%, Micron dropping 11%, Lam Research down 10%, and Applied Materials declining 9%.
• Software stocks extended recent declines as investors reassessed competitive risks following new AI product releases, raising concerns that automation could erode pricing power and margins across enterprise, legal, and financial software sectors.
Demonstrators on Sunday will be arrested for expressing support for Palestine Action or intifada chants, says MetPolice have warned demonstrators that they will be arrested for expressing support for Palestine Action or intifada chants at a protest on Sunday.About 12,000 people are expected to take part in the annual al-Quds Day rally in London, an international demonstration of support for Palestinian rights. The event takes its name from the Arabic version of Jerusalem and was created by Ayatollah Ruhollah Khomeini after Iran’s 1979 revolution. Continue reading...
