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Climate group calls for urgent windfall tax on excess fossil fuel profits, as delegates tell Colombia conference their nations are sufferingThe Middle East oil and gas crunch will impose as much as a trillion dollars of additional costs on the global economy while petroleum companies rake in spectacular profits from elevated fuel prices, analysis has revealed.The uneven distribution of risk and reward comes amid rising concern that the US-Israeli attack on Iran is worsening inequality, poverty and hunger across a world that has become dangerously dependent on fossil fuels. Continue reading...

• The Trump administration pledges a crackdown on Chinese companies exploiting American-made AI models, focusing on national security risks. • Officials singled out China for foreign tech firms' unauthorized use of US AI technologies, vowing stricter enforcement measures. • The initiative aims to protect US intellectual property and prevent adversarial nations from leveraging American innovations in AI development.

• An undisclosed major corporation reported a significant top and bottom line beat, demonstrating stronger-than-expected financial performance in its latest earnings announcement. • The company reaffirmed its full-year earnings forecast and reiterated long-term growth targets of 9% annual growth through 2027, followed by growth from 2027 through 2030. • The earnings beat and maintained guidance suggest management confidence in sustained profitability and operational execution.

Britain’s cybersecurity agency says companies must step up vigilance to prevent espionage attacksBusiness live – latest updatesBritish businesses are being urged to step up their vigilance against a China-linked hacking ploy that uses everyday devices for espionage.The UK’s National Cyber Security Centre (NCSC) and agencies in nine other countries have warned of persistent attempts by Beijing-backed groups to hack equipment such as wifi routers to launch cyber-attacks. Continue reading...

The campaign, fronted by a CGI squirrel, is part of government initiative to boost financial risk taking, amid fears UK growth is being stymiedNils Pratley: the ‘Savvy Squirrel looks a hit too tame’City firms are pinning their hopes on a government-endorsed advertising blitz fronted by a finance “savvy” CGI squirrel to encourage cautious British savers to shift out of cash and start investing.The long-awaited retail investment campaign, which will cost up to £50m, is part of the chancellor Rachel Reeves’ nationwide push to encourage more financial risk taking, amid fears risk-averse consumers are losing out and ultimately stymying UK growth. Continue reading...

News follows Guardian report on licence given to British firm exporting machinery to Armenian firm linked to Russian war effortBritish firms will face “much tougher” controls to prevent their goods from reaching Russia via other countries, undermining sanctions and aiding Vladimir Putin’s assault on Ukraine.Under plans to be unveiled on Wednesday, the government will be able to require UK manufacturers to obtain a licence if they want to export to a country suspected of acting as a staging post for exports ultimately destined for Russia. Continue reading...

Campaigners say banks and web platforms are being told to collect data on customers visiting blocked sitesMajor Russian companies have been conscripted into a “witch-hunt” against users trying to circumvent online controls, researchers have said, as the Kremlin continues trying to cut its citizens off from the global internet.Banks and web platforms are collecting data on users of virtual private networks (VPN) tools, which obscure an individual’s real location and allow them to access sites blocked in Russia, according to an investigation by RKS global, an advocacy group for internet freedoms. Continue reading...

• Director Denis Villeneuve confirmed production on "Dune: Part Three" has officially begun, with filming taking place in Morocco and Jordan through October 2026. • Timothée Chalamet, Zendaya, and Oscar Isaac are set to return, with newcomers Rebecca Ferguson and Austin Butler joining the expanded cast for the concluding installment. • Warner Bros. and Legendary Pictures have greenlit a 2027 release date, with Villeneuve stating this final chapter will "definitively conclude Frank Herbert's epic saga."

8-0 ruling gives companies new day in federal court after firms including Chevron ordered to pay millions for cleanupThe supreme court handed a win Friday to oil and gas companies fighting lawsuits over coastal land loss and environmental degradation in Louisiana.The 8-0 procedural decision gives the companies a new day in federal court after a state jury ordered Chevron to pay upward of $740m to clean up damage to the state’s coastline, one of multiple similar lawsuits. Continue reading...

Legally questionable confidentiality clause adopted almost word for word from demands of Microsoft and trade groupsMicrosoft and other US tech companies successfully lobbied the EU to hide the environmental toll of their datacentres, an investigation has found, with demands to block a database of green metrics from public view written almost word for word into EU rules.The secrecy provision, which the European Commission added to its proposal almost verbatim after industry lobbying in 2024, hinders scrutiny of the pollution that individual datacentres emit. It leaves researchers with just national-level summaries of their energy footprints. Continue reading...

Users of share cars will need to pay for fuel themselves before seeking reimbursement, leaving them temporarily out of pocketGet our breaking news email, free app or daily news podcastAustralia’s two biggest car-share companies, GoGet and Flexicar, have removed fuel cards from their Melbourne vehicles after a spate of break-ins and thefts that a senior GoGet executive described as “one of the dumbest crimes ever”.The change will force users of share cars to pay for fuel themselves before seeking reimbursement, leaving them temporarily out of pocket amid record-high fuel prices caused by the US-Israel war on Iran. Continue reading...

PM summons senior figures from Meta, TikTok, Google and X and says social media is ‘putting our children at risk’Keir Starmer has told social media bosses “things can’t go on like this” in a Downing Street meeting over internet safety.The prime minister summoned senior figures at Meta, TikTok, Google and X to No 10 on Thursday morning as his government considers imposing new restrictions on platforms, including an Australia-style ban for under-16s. Meta owns Facebook and Instagram, and Google owns YouTube. Continue reading...

Peter Kyle did not dispute Times’ report that under a ‘reasonable worst-case scenario’ supermarkets might start running out of some itemsGood morning. ‘We don’t comment on leaks,’ is the usual government response to an unsanctioned lobby scoop. But this morning Peter Kyle, the business secretary, took a different response. Asked about a Times splash saying the government is making plans to deal with possible food shortages in the summer, caused by the Iran war, he told Sky News:It is difficult for me, because, of course, these leaks are very unhelpful. But when people do read it, they need to be reassured that we are doing this kind of planning, and we are doing this kind of scenario planning.Britain could face shortages of chicken, pork and other supermarket goods this summer if the war in Iran continues, a secret government analysis has found.Officials have drawn up contingency plans for a “reasonable worst-case scenario” amid fears that the closure of the Strait of Hormuz will lead to shortages of carbon dioxide (CO2) which is critical to the food industry …I can tell you, because I’m in these meetings, the prime minister has been there since the very start, and he is going through personally and driving deep dives into lots of areas of resilience throughout our economy.People should be reassured that we are doing this kind of action behind the scenes to keep resilience in our economy, so that when the full extent of what may or may not emerge, because this situation is still unfolding in the Middle East, you have a government that is acting with creativity and boldness.If any of these things change, I will be up front with the public about it in advance so that we can prepare. But right now, people should go on as they are, enjoying beer, enjoying their meats, enjoying all the salads.But also there are critical uses for CO2 – MRI scanning, for example, water purification; it’s involved in our nuclear industry, our civil nuclear power industry, some defensive uses for it as well. Continue reading...

• Researchers published the most thorough study of cosmic expansion in the journal Astronomy & Astrophysics on April 10, combining decades of research to derive the most precise Hubble constant yet while confirming that tension between early and late-universe measurements persists. • The study, launched at an International Space Science Institute Breakthrough Workshop in Bern, Switzerland in March 2025, expanded the cosmic distance ladder into a comprehensive survey called the Local Distance Network, achieving a goal considered 'potentially unreachable' a decade ago. • Study co-author Richard Anderson from the University of Göttingen stated that the Hubble tension reveals that 'something's missing' in the current understanding of basic physics on cosmological scales.

PM says opening waterway is ‘vital’ as he rules out any UK involvement in US moves to blockade straitGood morning. The parliamentary recess is over, the Iran war disaster isn’t, campaigning is ramping up because the May elections are less than four weeks to go, and there will be plenty for MPs to discuss as they meet in the Commons this afternoon. The full timetable, as usual, is down below.Keir Starmer is in Greater Manchester this morning, on a visit linked to the English local elections. But he is expected to be in the Commons later giving an update on the UK response to the Iran war, and in an interview on Radio 5 Live a few minutes ago he confirmed that Britain will not join the US in enforcing the new blockade of the stait of Hormuz proposed by Donald Trump.We’re not supporting blockade.The strait is shut or not free for navigation in the way it should be. That means that oil and gas is not getting to market. That means the price is going up. That means everybody listening to this is facing higher energy bills. And I don’t want that to happen.I want their energy bills to be stabilised and lower. And so it is, in my view, vital that we get the strait open and fully open. Continue reading...

Exclusive: MPs say profit-making levels in England are ‘scandalous’ and call for cap on amount private companies can make from NHSPrivate firms providing services to the NHS including healthcare and consultancy have made £1.6bn in profits over the last two years, research reveals.The findings – on the basis of contracts worth £12bn – have prompted claims of “scandalous” profiteering, concern that the health service is being “taken for a ride” and calls for ministers to impose a cap on maximum profit levels.£2bn of the £12bn of contracts went to firms with owners based outside the UK.£533m of that £2bn went to companies owned by people living in tax havens such as Jersey and the Cayman Islands.Firms, especially those owned by private equity outfits, used £353m of their £12bn NHS income to pay interest on debts. Continue reading...

• The US Treasury Department announced sanctions on April 8, 2026, targeting 12 Chinese companies accused of supplying dual-use technology to Russia's defense sector amid the Ukraine conflict. • Key firms include Shenzhen-based tech exporters providing drone components and microelectronics, with transactions totaling over $500 million since 2024, per Treasury documents. • These measures aim to disrupt Russia's war machine, as Washington claims Beijing's indirect support prolongs the invasion; experts warn of escalating US-China tensions.

Struggling pubs reel from rising business rates, wages and energy bills, with customers at limit of what they will payNick Evans is staring in vain at columns of numbers, trying to make them add up to a profit. He is a co-owner of the Old Crown Coaching Inn in Faringdon, Oxfordshire, a pub and hotel whose rich history is etched into its crooked wooden beams and cosy snugs.Oliver Cromwell stayed here in 1645. A room believed to have been used by the notoriously severe “hanging judge” Lord Jeffreys to condemn rebels now stages happier encounters: it is the honeymoon suite. Continue reading...

CBI figures showing surprise jump in financial sector’s growth will be welcome news for Rachel ReevesBritain’s financial services companies have reported a strong recovery in activity at the start of the year, in a surprise boost to the government after a gloomy end to 2025.Banks, insurers and investment managers said their businesses were growing, with a positive balance of nearly two-thirds noting an expansion, according to a long-running survey by the Confederation of British Industry (CBI), a lobby group. That contrasted with the negative balance of 38% in December, despite the start of the US-Israel war on Iran. Continue reading...

Tougher ethical certification process requires companies to meet standards in every one out of seven categoriesDozens of companies may be at risk of losing their coveted B Corp ethical status after the organisation behind the corporate kite-marking system raised the standards required to qualify.B Lab, which oversees B Corp certification, launched the biggest overhaul in its 19-year history earlier this month, scrapping a system under which companies must gather enough points across multiple categories to qualify. Continue reading...

Companies using heating oil have already begun rationing their fuel use, says Federation of Small BusinessesMiddle East crisis – live updatesThousands of independent businesses across the UK are braced for their energy bills to more than double owing to the sharp rise in heating oil costs as the war in Iran pushed Europe’s fuel market prices to fresh record highs.About 7% of all small and medium-sized companies warm their properties and provide hot water using heating oil, which in some cases has more than doubled in recent weeks. Continue reading...

• The US Treasury Department announced sanctions on April 4, 2026, targeting 12 Chinese companies accused of supplying missile components to Taiwan's military in violation of export controls. • Sanctions freeze $2.1 billion in US-based assets and ban future transactions, following intelligence reports of shipments totaling 500 tons of avionics parts since January. • The move heightens US-China tensions, with Beijing calling it 'economic blackmail' that threatens South China Sea stability and global semiconductor supply chains.

• Iran's IRGC threatened strikes on US technology and defense companies operating in the Middle East. • The sweeping alert links geopolitical tensions to cyber and physical risks for American firms. • It escalates cybersecurity concerns for US multinationals with regional presence.

• Treasury Department imposed sanctions on April 1 against firms linked to hacks on Australian and Japanese defense networks, stealing terabytes of data. • Targets include Huawei subsidiary and two state-backed hackers, freezing $1.2 billion in US assets. • Action escalates tech war, with FBI reporting 40% rise in state-sponsored attacks on US firms.

Bank of England survey in March shows chief financial officers foresee 3.7% increase over coming yearBusiness live – latest updatesCompanies in the UK expect to raise their prices more rapidly over the coming months as the war in the Middle East drives up costs, Bank of England research shows.The Bank’s regular survey of more than 2,000 chief financial officers conducted last month, after the Iran conflict began, shows they now expect to raise their prices by 3.7% over the coming year. Continue reading...

Visit with Camilla to take place in late April despite calls for it to be delayed because of US war against IranUK politics live – latest updatesThe king’s state visit to the US is to go ahead next month as planned, Buckingham Palace has confirmed.Charles and the queen’s long-expected trip to see Donald Trump will take place in late April, despite calls for it to be postponed because of the ongoing war in the Middle East. Continue reading...

• President Trump extended the strike deadline on Iran's energy sector while warning that failure to accept current negotiation terms would result in "far greater military consequences," according to White House statements. • The White House confirmed ongoing negotiations with Iranian leadership despite military operations continuing at historic levels, with Iranian leadership described by Trump as "desperate to negotiate."

• The Kennedy Center confirmed comedian Bill Maher as the 2026 Mark Twain Prize for American Humor recipient on March 26, 2026, days after White House denial labeled reports fake news. • Maher becomes the 27th honoree following Conan O'Brien and Kevin Hart; he quipped, 'It's like an Emmy, except I win,' in a Kennedy Center release. • White House communications director Steven Cheung called prior Atlantic reporting 'Literally FAKE NEWS,' and press secretary Karoline Leavitt stated Maher would not receive the award.