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Iran war

Iran

Ship taken near UAE coast headed for Iranian waters, UK agency says

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Economy

Oil stocks drain at record pace as IEA warns of renewed price swings

The International Energy Agency says the oil market is likely to remain in deficit until the final quarter of the year, as disruptions at the Strait of Hormuz continue to constrain supply, increasing the risk of renewed price volatility.

Economy

Iran's economy is being tested by war, blockades and soaring inflation

Inflation has hit 54% and the rial has lost more than half its value, but Tehran insists it can hold out

China

Trump arrives in Beijing for high-stakes summit with Xi

This week's trip, the first since Trump visited Beijing in 2017, will involve highly anticipated talks with Xi on Thursday and Friday.

Earth News

Heat pump sales soar across Europe. Which nation is leading the race?

More than 28 million heat pumps have been installed across Europe, outselling traditional gas boilers in many nations.

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USA

US war in Iran has cost $29 billion so far, Pentagon says

Defence Secretary Pete Hegseth came under intense questioning by Democratic and Republican lawmakers over the cost of war, Trump's end game and diminishing weapons stockpiles.

Economy

Iran war pushes US inflation to 3.8% as petrol prices surge

US consumer prices rose 3.8% in April as the Iran war drove petrol costs up 28% in a year, with real wages falling for the first time in three years, according to government data.

Iran

Iran threatens 90% uranium enrichment as peace talks falter

Tehran threatened to enrich uranium to weapons-grade if attacked again, as Trump said the ceasefire had a "one percent chance" of surviving after rejecting Tehran's proposal.

China

A weakened Trump to test China's appetite for deal-making in Beijing

A quagmire in Iran, sky-high oil prices and shrinking support at home: when US President Donald Trump belatedly travels to China this week, his position has weakened. Still, he is hoping for any deal. Nervous Europeans are watching.

Economy

Shipping fuel crunch raises fears of higher prices worldwide

Global shipping companies are bracing for fuel shortages and rising costs as the Iran war disrupts supplies of bunker fuel through the Strait of Hormuz.

Economy

US Treasury enlists banks to target Iranian money laundering schemes

The US Treasury has directed banks to intensify their monitoring of Iranian money laundering networks that enable funds from sanctioned oil. The move is part of the wider strategy to pressure Iran into a deal as negotiations stall.

Iran

Iran chief negotiator says US must accept proposal or face 'failure'

Iran has refused to back down in its war with Washington, with military officials warning they are prepared to respond to any renewed US attack.

Economy

Soaring energy profits reignite calls for windfall tax across Europe

European oil and gas companies that posted huge profits in the first quarter on soaring prices caused by the war in the Middle East face new calls from London to Paris to tax their outsized gains.

Europe News

First protests against high fuel prices emerge: who will join first?

"Producing is more expensive than ever, and prices are not keeping pace", says the Coordination rurale, which organised the rally. The union claims that "farms can no longer survive without a concrete response".

Iran

Iran warns Europe not to send ships to Hormuz as US talks gap widens

Tehran has warned Europe against the idea of sending warships to the key waterway, as it outlined a conditional proposal on uranium, sanctions relief and a Lebanon ceasefire.

Business

Saudi Aramco profits jump 25% as Iran war drives oil prices higher

Saudi Aramco said Q1 profit rose 25% as the Iran war disrupted global oil supplies and pushed up prices. The company shifted some exports away from the Strait of Hormuz via its East-West Pipeline, which is now operating at full capacity.

China

Trump to discuss Iran war with Xi on visit to China this week

The US leader was expected to travel to China earlier this year, but his trip was postponed due to the Iran war. It marks the first visit by a US president to China since 2017.

The Iran war refers to the ongoing military confrontation involving Iran, Israel and the United States, with fighting and tensions spreading across the region — stay up to date on the latest developments as the situation unfolds