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Yara CEO warns of global auction that would leave poorest countries scrambling for supplies they can ill affordThe Iran war could have “dramatic consequences”, causing food shortages and price rises in some of Africa’s poorest and most vulnerable commu…
Mojtaba Khamenei says Tehran will eliminate ‘enemy’s abuses of the waterway’ and guard its nuclear and missile programmesUS politics live – latest updatesIran’s supreme leader has broken his recent silence with a defiant statement hailing Iran’s contro…
Governor says decision to keep rates at 3.75% reasonable given unpredictability of events unfolding in Middle EastBusiness live – latest updatesWhy Bank kept rates on hold despite UK bracing for TrumpflationThe Bank of England has left interest rates u…
Nearly 60 countries back voluntary roadmaps to wean world off coal, oil and gas, at conference prompted by frustration with UN climate summitsBusiness live – latest updatesEurope live – latest updatesGovernments have been asked to develop national “roa…
ECB keeps interest rates on hold as growth stumbles and price rises gather pace, up from 2.6% in March and 1.9% in FebruaryBusiness live – latest updatesAir France-KLM cuts forecasts amid $2.4bn fuel bill riseInflation across the eurozone soared to 3% …
Move comes as airline industry reacts to uncertainty over Iran war and increase in price of Brent crudeBusiness live – latest updatesAir France-KLM has cut its capacity growth forecasts for this year as the Iran war drives up its fuel costs by billions…
Markets spooked as US president appears willing to keep up naval blockade and Iran keeps strait of Hormuz all but shutBusiness live – latest updatesThe global oil price has soared above $126 a barrel, its highest level since 2022, after Donald Trump sa…
WPP accused of breaching its climate policy after report reveals firm linked to twice as much oil advertising as US rivalsA British advertising conglomerate has helped the oil companies ExxonMobil, Chevron, Shell and BP spend an estimated $1.5bn (£1.1b…
Blockade threat in vital strait and Trump’s stance lift crude, pushing pump prices to highest level since 2022Sign up for the Breaking News US email to get newsletter alerts in your inboxAverage US gas prices have hit a new high at $4.23 per gallon, th…
Fishing companies can also access subsidies in loosening of state aid rules to cover fuel and fertiliser price risesThe EU is to subsidise up to 70% of the extra cost of fuel and fertilisers caused by the Iran war for farmers, fishing businesses and ro…