Impact

• 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.

CEO of Danish shipping group says increased costs due to higher fuel bills passed on to customersBusiness live – latest updatesThe boss of the shipping company Maersk has said the reopening of the strait of Hormuz would have a “limited impact” on cargo flows, as the industry grapples with a sharp rise in energy costs.Vincent Clerc, chief executive of the Danish shipping group, said its fuel bill had nearly doubled since the start of the conflict, adding as much as $500m (£367m) in costs per month, but it had passed this on to its customers through higher freight rates. Continue reading...

• Industry leaders and experts at the India AI Impact Summit 2026 on Friday described AI as an infrastructure shift rather than a mere technology upgrade, with infrastructure determining future power dynamics. • The summit highlighted India's positioning at a critical AI inflection point amid rapid infrastructure transformations in computing and data capabilities. • Participants emphasized that this shift positions India to leverage AI for economic and strategic advantages in the global landscape.

Cap of 20mph in towns and cities and 60mph on motorways would cut fuel demand and combat rising prices, IPPR saysBritain should lower speed limits for drivers as part of a package of measures to reduce the impact of the Iran war on consumers, a thinktank has said.Capping legal speeds at 20mph in towns and cities and 60mph on motorways would help reduce fuel demand and combat soaring oil prices triggered by conflict, according to the Institute for Public Policy Research (IPPR). Continue reading...

• Fortinet highlighted a 389% increase in ransomware victims, driven by AI-enhanced cybercrime tactics disrupting global operations including in India. • The company's threat intelligence efforts are transforming awareness into actionable insights to counter sophisticated AI-powered attacks. • This surge underscores rising cybersecurity risks for Indian enterprises as AI tools enable more convincing phishing, deepfakes, and automated assaults.

• Singapore has completed a comprehensive review of its political salary framework but deferred any final decision citing impacts from the ongoing Middle East conflict. • The announcement was made by Minister Chan Chun Sing, highlighting caution amid global economic uncertainties affecting the city-state's finances. • This deferral reflects Singapore's policy of linking political remuneration to economic performance and national circumstances during crises.

• Consul General Pratik Mathur stated in Caixin Global that India is emerging as a global AI system-builder, showcased at the AI Impact Summit in New Delhi. • IndiaAI initiative forms a full-stack ecosystem including compute, data, models, skills, startups, and governance, beyond typical R&D grants. • A nationally accessible GPU backbone democratizes AI development, preventing monopolization by large firms.

Researchers say findings are not reason to shy away from restrictions as MPs consider ban in England’s schoolsStrict bans on mobile phones in schools have “close to zero” impact on student learning and show no evidence of improvements in attendance or online bullying, a study has found.Researchers at US universities including Stanford and Duke looked at nearly 1,800 US schools where students’ phones were kept in locked pouches and found little or no differences in outcomes compared with similar schools without strict bans. Continue reading...

Rise of 3% in April, the fastest annual pace in 11 months, leaves typical property worth £278,880, says NationwideBusiness live – latest updatesHouse price growth in the UK has surprised estate agents and economists by jumping in April at the fastest annual pace in 11 months, according to Nationwide.The UK’s biggest building society said its mortgage data showed that house prices unexpectedly rose by 3% in April on a year earlier, from 2.2% in March, leaving the typical UK property worth £278,880. Continue reading...

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...

Revised figures increase fears about how the energy-intensive sites could worsen the climate emergency The UK government vastly underestimated the climate impact of artificial intelligence, it has emerged, after officials raised their estimate of carbon emissions from the technology by a factor of more than 100.According to new data quietly published this week, energy use by AI datacentres in the UK could cause the emission of up to 123m tonnes of carbon dioxide (MtCO₂) – about as much as generated by 2.7 million people – over the next 10 years. Continue reading...

Report examines how the effects of slavery and Jim Crow at the county level continue to harm Black Georgia residentsA Georgia taskforce has released a landmark report that details the lasting impact of slavery and its afterlives in Fulton county.The report, spanning more than 600 pages, is based on original research by the Fulton county reparations taskforce and a review of primary source documents. It is the first-of-its-kind in the nation, according to county leaders and researchers. Rather than examining the impact of slavery and racism at the federal or state level, the harm report investigated the role of the county government. Continue reading...

Retailer WH Smith joins supermarket in warning on effects of Middle East conflict Sainsbury’s has warned that profits could fall this year as the conflict in the Middle East squeezes customers’ budgets and pushes up business costs.The supermarket group said the conflict “will impact both our customers and our business” and it was unclear how large the effect would be. Continue reading...

ABF, which owns Kingsmill, Twinings and Patak’s, to demerge fashion chain to maximise shareholder returnsBusiness live – latest updatesPrimark is to break free from its sister food company, which owns Twinings, Kingsmill and Patak’s, next year despite warning that the conflict in the Middle East is likely to hit consumer spending.The fashion chain’s owner, Associated British Foods (ABF), confirmed the plan to split off Primark from the rest of the group, first mooted last year. Continue reading...

HSBC, Barclays, Lloyds, NatWest and Santander will this week discuss with chancellor how to limit effects of conflict The bosses of Britain’s “big five” retail banks have been summoned to a meeting with the chancellor, Rachel Reeves, this week to discuss how to limit the economic impact of the crisis in the Middle East triggered by the US and Israel’s attacks on Iran.The chief executives of HSBC, Barclays, Lloyds, NatWest and Santander have been asked to attend an emergency summit that comes amid increasing acceptance that a major economic hit from the Iran war is unavoidable. Continue reading...

• Medi-Cal immigrant enrollment is declining, with researchers attributing the drop directly to Trump administration policies. • The reduction affects healthcare access for immigrant populations in California, exacerbating public health challenges. • This trend highlights ongoing tensions between federal immigration policies and state-level health programs serving vulnerable groups.

PM appears to draw comparison between Russian and US leaders and calls for plan to restore shipping through strait of HormuzKeir Starmer has said he is “fed up” with the effect that Donald Trump’s actions in the Middle East are having on the British public, while appearing to draw a comparison between the US president to Vladimir Putin.Speaking to ITV’s Robert Peston on Thursday, the prime minister said: “I’m fed up with the fact that families across the country see their bills go up and down on energy, businesses’ bills go up and down on energy because of the actions of Putin or Trump across the world.” Continue reading...

Average price dips back below £300,000 after higher energy costs have knock-on effect on mortgage ratesUK house prices fell in March, as the housing market lost momentum amid uncertainty over the conflict in the Middle East and the impact on the economy and interest rates.Figures from Halifax, which is part of Lloyds – Britain’s biggest mortgage lender – showed property prices dipped by 0.5% in March compared with a month earlier. As a result, the average price of a home slipped back below £300,000, to £299,677, after first crossing the milestone in January. Continue reading...

Exclusive: Former UN climate chief to co-chair Lancet Commission examining how sea-level rise is reshaping health, wellbeing and inequalityCountries are being “held hostage” by their reliance on fossil fuels, a former UN climate chief has warned, describing the health impacts of climate change as “the mother of all injustices”.Christiana Figueres, an international climate negotiator who helped deliver the Paris agreement signed in 2016, made the comments as she was announced on Wednesday as co-chair of a Lancet Commission examining how sea-level rise is reshaping health, wellbeing and inequality. Continue reading...

• The US-Israeli war on Iran, initiated February 28, 2026, with strikes on leadership and nuclear facilities, has led to Iran's Strait of Hormuz closure, rivaling 1970s oil crises. • Supreme Leader Ali Khamenei's killing sparked Iranian strikes on Israel and US bases, disrupting 20% of global oil transit and surging prices by 40%. • US markets face inflation risks, with experts warning of recession if chokepoint remains closed beyond two weeks.

• A new study from the University of Nebraska-Lincoln highlights how farmers' risk attitudes significantly influence crop insurance decisions and financial results. • Led by Associate Professor Cory Walters, the research analyzes behavioral factors in agricultural economics, published March 31, 2026. • Findings underscore the need for tailored insurance products to match diverse risk profiles, potentially improving farm resilience amid climate variability.

Study into how fertilisation could work in space finds sperm may get disorientated when trying to find an eggSperm in space are likely to get disoriented and lost while struggling to find their way to an egg, a new study has found.When exposed to microgravity in experiments, sperm tumble around like an untethered astronaut, according to Adelaide University researchers. Continue reading...

• Rice University's Baker Institute released a commentary by Rachel A. Meidl examining scientific evidence linking microplastics exposure to fertility issues amid sensational headlines. • The review highlights current peer-reviewed studies on human microplastics exposure levels, absorption mechanisms, and potential reproductive health effects in the US population. • Findings underscore gaps in long-term data, urging cautious interpretation of preliminary animal studies while calling for more rigorous human trials to assess real-world risks.

• Brent crude oil prices showed modest gains of approximately 1% despite elevated geopolitical rhetoric, indicating potential underestimation of conflict escalation risks by the energy market. • Energy price volatility is creating supply chain pressures and financial stress for corporations, with rising energy costs cited as a major factor in corporate capacity reduction decisions and market-wide weakness. • The US government's expanding influence over global energy markets reflects efforts to manage price stability and geopolitical risks, with EPA Administrator Lee Zeldin discussing energy policy responses on financial media.

VAT tax on fuels will reportedly drop from 21% to 10%, as Ursula von der Leyen suggests EU may move to help states with rising energy costsSpain is set to put forward a number of emergency tax cuts this morning to counter the economic impact of the Iran war.The measures – set to be presented at a press conference 11am local time – are expected to include lowering VAT tax on fuels to 10% from 21%, according to early media reports, alongside other changes, including to the hydrocarbon and electricity duties, intended to help with growing energy prices. Continue reading...

People struggle to cook and businesses bear brunt as closure of strait of Hormuz slows imports of liquefied petroleum gasFor four days, Maya Rani, 36, has been arriving each morning at a gas distributor’s office in Delhi, her six-month-old daughter in her lap, waiting for hours. And each day she returns home empty-handed, told that a cooking gas cylinder may not be available for at least another week. Around her, the queue keeps growing, people clutching forms and documents, hoping to secure a cylinder.The flame in her kitchen began to fade last week and her husband, as he always does, took their 5kg cylinder to a local refiller. This time, there was nothing. The only option left was to apply for a government-subsidised supply, a process that has meant repeated visits, long waits and no certainty. Continue reading...

PM will consider exempting large numbers from proposed changes, which would leave people waiting 10 years for settled statusKeir Starmer is hoping to soften the impact of his government’s changes to the immigration system after a backlash from Labour MPs and a dramatic intervention from his former deputy Angela Rayner.The prime minister is considering exempting large numbers of people from the proposed changes, which would make it harder to achieve settled status in the UK, as he attempts to keep his restive party onboard. Continue reading...

• The U.S. Army Corps of Engineers announced public comment solicitation on Google's proposed data center campus in Botetourt County, Virginia, focusing on effects to local water sources. • The project highlights growing infrastructure demands from tech giants, with Virginia Tech expert Murat Kantarcioglu noting data centers' critical role amid rising cybersecurity risks like potential drone attacks. • This development underscores tensions between tech expansion and environmental concerns in the US, potentially influencing future data center approvals nationwide.