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.
Business
Lufthansa hits record revenue as Iran war fuel costs eat into profits
The German airline group posted its highest-ever revenue in 2025 and improved its first-quarter results, but soaring jet fuel costs linked to the Iran war are forcing route cuts and pushing annual profit below initial forecasts.
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Business
Intel shares soar 20% as AI demand fuels first quarter earnings beat
Intel posted first-quarter results that beat expectations, sparking a 20% rise in its share price in after-hours trading. The US government's stake in the company, acquired under the Trump administration, is up nearly 300%.
Europe News
EU considering excessive profit taxes on oil and gas companies
The European Commission is considering taxing windfall profits, similar to the mechanism applied in 2022 during the natural gas crisis. The plea came from five EU countries, which also called for the tax to be expanded to foreign profits dealing with fossil fuels.
Europe in Motion
Russia pocketing billions from two weeks of war in Iran, data shows
Moscow's fossil fuel earnings hit €7.7 billion in the two weeks after joint US-Israeli strikes triggered the war in Iran, as the ongoing conflict has sent global oil prices skyrocketing and led the US to ease Russian sanctions.
