Airlines among companies using fuel surcharges to cover surge in costs, UK survey shows

Firms raising prices at fastest rate in three years, driven by soaring energy and wage bills but also extra materials costs

Airlines and other companies are increasingly using fuel surcharges to cover soaring costs, a survey has found, in a further sign of Iran war-linked inflation hitting the economy.

A poll of companies in the services sector, which includes airlines, found rising fuel prices had contributed to businesses raising prices at the fastest pace in more than three years in April.

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Oil and gas prices fall sharply, driven by hopes of strait of Hormuz reopening – business live

Iran’s Islamic Revolutionary Guard Corps navy has announced the strait of Hormuz could reopen following the end of ‘threats from aggressors’

Job vacancies in the UK bounced back in March but remained near a five-year low, and openings for graduates slumped more than a third.

UK job vacancies showed signs of recovery in March, rising 3.74% month-on-month to 752,711 – the second monthly increase after an extended period of decline, according to the job matching platform Adzuna. Yet despite this tentative rebound, the overall picture remains tough for job seekers. Vacancies are still 13.60% lower than in March 2025, and the market remains near its weakest level since 2021.

Like BP last week, these are unearned windfall profits driven by Trump’s war with Iran.

Equinor now wants to cash in even more by developing the Rosebank oil field, which would be a terrible deal for the UK. This government must put the needs of the British public – for affordable energy and a safe climate – ahead of this Norwegian oil giant’s relentless pursuit of profit.

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Wednesday briefing: How Trump’s attempt to reopen to strait of Hormuz brought war closer again

In today’s newsletter: ​The brief US effort to ​s​teer trapped vessels through the ​waterway ​put the fragile ceasefire under strain

Good morning. Uncertainty once again reigns in the Middle East. The uneasy ceasefire between the US and Iran threatened to disintegrate after Donald Trump launched an initiative – dubbed “Project Freedom” – to help thousands of sailors stranded in the Gulf by the war to pass through the strait of Hormuz.

To Iran, the announcement was a cynical provocation. Flurries of fighting restarted as Iran sought to maintain its grip on the critical passageway out of the region.

UK politics | Zack Polanski falsely claimed to be a spokesperson for the British Red Cross while campaigning for the Green party leadership, the charity has said.

Fuel shortages| Two million airline seats have been cut from this month’s schedules as airlines redraw their operations because of soaring jet fuel prices amid the Middle East conflict.

UK news| A British crew member who became ill after a suspected outbreak of hantavirus on luxury cruise ship the MV Hondius is to be medically evacuated, officials have said.

Tax | An increased windfall tax should be imposed on the UK’s largest banks, say trade union leaders, after the big four lenders reported almost £14bn in first-quarter profits, partly fuelled by market turbulence amid the Iran war.

Society | People from black backgrounds in England are twice as likely to experience strokes as their white counterparts, while also being less likely to receive timely care, according to the largest study of its kind.

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Concierge firm co-founded by queen’s nephew went on ‘ill-timed’ hiring spree before Iran war

Quintessentially almost quadrupled staff in Middle East and Asia less than year before wealthy began to flee Gulf

The embattled luxury concierge service co-founded by Queen Camilla’s nephew Ben Elliot embarked on what appeared to be an inopportune hiring spree in the Middle East and Asia before wealthy individuals began fleeing the region because of the US-Israel war on Iran.

Quintessentially almost quadrupled staff in the regions from 22 to 84 during its financial year to 30 April 2025, according to newly released annual accounts, which again reported multimillion-pound losses and warned of “material uncertainty” about its future.

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Jaguar Land Rover could have shifted production from UK without £380m battery subsidy, officials warned

Government officials said in December that Britain’s largest automotive employer could lead exodus from UK

Jaguar Land Rover would have considered moving car production out of the UK and slashing jobs if not for a £380m subsidy for its sister battery company, government officials claimed privately.

Officials at the Department for Business and Trade (DBT) warned in December that Britain’s largest automotive employer may have triggered an exodus from the UK car industry, according to state aid documents prepared by the competition regulator.

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Next Scottish government faces ‘really difficult’ spending choices, economists say

Parties accused of ‘fiscal denial’ and failing to tell voters the scale of the challenge

The next Scottish government will need to make “really difficult” spending decisions soon after taking power, including tackling its large public sector pay bill, senior economists have said.

Economists with the Fraser of Allander Institute, at the University of Strathclyde, believe the manifestos published by Scotland’s political parties during the campaign failed to tell voters about the true scale of the challenge.

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Trump’s World Liberty Financial venture sues crypto entrepreneur for defamation

Suit alleges that Hong Kong-based Justin Sun engaged in a campaign to ‘torch’ the company’s reputation

World Liberty Financial, the crypto venture co-founded by Donald Trump and his sons, said on Monday it had filed a defamation lawsuit in Florida state court against the Hong Kong-based crypto entrepreneur Justin Sun, as a dispute escalates between the project and one of its most prominent backers.

World Liberty posted a copy of its lawsuit on X in which it accused Sun of launching a “public smear campaign”. It alleged that Sun had improperly transferred some of his WLFI tokens that come with voting and governance rights to crypto exchange Binance and, separately, that he had placed bets that WLFI would decline in market value, known as short selling. That was part of a coordinated effort to push the token’s market price down as public trading began in September, the lawsuit alleged.

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Shipping firms question safety in strait of Hormuz despite Trump plan

President says US navy will ‘guide’ stranded ships out of waterway but report says warship was hit by Iran

The world’s shipping industry has questioned whether vessels will be able to travel safely to and from the Gulf after Donald Trump announced his latest plan to open the strait of Hormuz.

Trump wrote on Monday that the US navy would “guide” stranded ships out of the waterway, writing on his social media site Truth Social that the operation, “Project Freedom”, would be a humanitarian gesture “on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran”.

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Nigerian refinery accused of sacking union members is key to UK plan to tackle jet fuel shortage

Heidi Alexander says part of answer to strait of Hormuz crisis is importing more fuel from US and west Africa

A refinery in Nigeria accused of dismissing workers for joining a union has emerged as key to the UK government’s hopes of saving the summer holiday amid a jet fuel shortage.

Heidi Alexander, the transport secretary, said at the weekend that part of the answer to the strait of Hormuz crisis was to import more fuel from the US and west Africa.

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Thousands of Just Eat couriers launch legal action to improve workers’ rights

More than 7,000 join employment tribunal that will include claims for minimum wage and holiday pay

More than 7,000 Just Eat couriers are taking legal action against the food delivery company in an attempt to gain better employment rights including the minimum wage and holiday pay.

The employment tribunal, which begins on Tuesday and is set to run until 2 June, will determine if the couriers are classed as workers, a status that comes with improved rights, or self-employed independent contractors.

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Heathrow in talks with airlines to end row that could delay third runway

Airport seeks deal with BA owner, Virgin and billionaire local landowner, who has own expansion plan, over cost and service issues

Heathrow’s new chair has opened talks with airlines and the billionaire local landowner Surinder Arora to defuse a row that threatens to further delay the £49bn plan to build a third runway at Europe’s busiest airport.

Philip Jansen, who was appointed at the start of the year, is understood to have held meetings with the airport’s carriers and with Arora, who has been promoting his own £25bn expansion scheme, in the hope of finding the middle ground in a row over cost and service issues.

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Starmer adviser held 16 undisclosed meetings with top US tech bosses

Exclusive: Varun Chandra’s talks with Google, Meta, Apple and others raise fears of ‘lobbying behind closed doors’

An influential government adviser close to Keir Starmer and Rachel Reeves held 16 undisclosed meetings with top US tech executives, the Guardian can reveal.

The No 10 business aide Varun Chandra discussed regulatory changes, AI and Donald Trump’s second administration with tech corporations during confidential meetings between October 2024 and October 2025. In one meeting he offered to help a top executive meet the prime minister directly.

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Political blame game begins and passengers left adrift after Spirit ceases operations

Republicans blame Biden administration block on JetBlue deal; Democrats point to fuel price surge amid Iran war

US airlines and government officials battled on Saturday to deal with stranded passengers and stricken employees after discount carrier Spirit Airlines abruptly ceased operations – and a political and business blame game got under way over the collapse of the low-cost carrier.

“If you have a flight scheduled with Spirit Airlines, don’t show up at the airport; there will be no one here to assist you,” the US secretary of transportation, Sean Duffy, warned at a press conference after laying out measures for customers booked with the Florida-based company to obtain refunds or find discounted flights on other airlines.

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New free financial advice plan aims to help Britons build savings

‘Targeted support’ means certain banks and financial institutions can offer free extra help with investments and pensions

Many Britons are daunted by the world of investing, but new City rules mean certain banks and financial institutions can offer free extra help with investments and pensions.

Last month marked the launch of “targeted support”, a new regulated service that permits companies to suggest investments and pension products to customers that might provide a better return.

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UK defence firm Ultra Electronics to pay £15m after SFO bribery investigation

Company accepts it failed to prevent bribery in connection with contracts in Algeria and Oman sought through agents

The British defence company Ultra Electronics has accepted responsibility for a failure to prevent bribery and agreed to pay £15m after an investigation by the Serious Fraud Office.

The penalties are part of a deferred prosecution approved by the high court on Friday, after an investigation opened in 2018 when the company referred itself to the UK law enforcement agency a month after corruption allegations were published by Algerian media.

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Octopus Energy boss: some people would accept blackouts if bills cut

Greg Jackson argues against costly investments in UK’s power grid that are adding to household bills

The boss of the UK’s biggest energy supplier has suggested that some households would accept an occasional electricity blackout in exchange for much lower energy bills.

A year on from Europe’s largest power outage – which left tens of millions of people in Spain and Portugal without trains, metros, traffic lights, ATMs, phone connections and internet access – the chief executive of Octopus Energy argued against costly investments in the UK’s power grid that are adding to household bills.

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NatWest faces £140m hit from Iran war as UK growth slows and inflation rises

Profits ahead of expectations but almost half of £283m impairment charge follows forecast reassessment

NatWest said the economic fallout from the conflict in the Middle East could cost it £140m amid slowing growth and rising inflation even as it reported profits ahead of expectations.

Overall, the FTSE 100 lender booked a £283m impairment charge and said that almost half of that was because of a reassessment of its economic forecast to “reflect increased geopolitical risk and weaker equity markets”.

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Watchdog weighs investigation into Farage’s undisclosed £5m gift

Electoral Commission reviewing whether Reform UK leader should have declared billionaire’s gift before entering parliament

The UK elections watchdog is considering whether to investigate an undisclosed £5m gift received by Nigel Farage before he announced his candidacy at the last general election.

The Guardian revealed this week that the crypto billionaire Christopher Harborne gave the Reform UK leader the money.

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Iran supreme leader issues defiant statement on strait of Hormuz

Mojtaba Khamenei says Tehran will eliminate ‘enemy’s abuses of the waterway’ and guard its nuclear and missile programmes

Iran’s supreme leader has broken his recent silence with a defiant statement hailing Iran’s control over shipping in the strait of Hormuz and vowing to guard the country’s nuclear and missile programmes.

“Today, two months after the largest military deployment and aggression by the world’s bullies in the region, and the United States’ disgraceful defeat in its plans, a new chapter is unfolding for the Persian Gulf and the strait of Hormuz,” Mojtaba Khamenei said in a statement read by a state television anchor.

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Exclusive: Nigel Farage was given undisclosed £5m by crypto billionaire in 2024

Reform leader changed his mind about standing as MP after gift from Thai-based crypto tycoon Christopher Harborne

Nigel Farage was given £5m by the crypto billionaire Christopher Harborne shortly before announcing he would stand in the 2024 British general election, the Guardian can reveal.

Farage had stated he did not intend to stand as a prospective MP but U-turned in June 2024, within weeks of receiving the personal gift from the Thailand-based businessman.

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