Business

In a war increasingly determined by the flow and price of oil, one country is already emerging as a winner – and it’s not even a combatant. As US-Israeli strikes on Iran have sent the oil price soaring and raised questions about the American appetite for a prolonged price shock, Russia is already reaping the…

The government has been called on by an influential committee of MPs to quash convictions obtained with data from the Post Office’s Capture software, the predecessor to the faulty Horizon IT programme. As well as creating “urgent” legislation to have these earlier convictions quashed, a new report from the Business and Trade Committee (BTC) also…

The UK has been included in a fresh US trade investigation that could result in new tariff pressure being applied to dozens of countries. The US Trade Representative’s (USTR’s) office said ‌it had begun an unfair trade practice inquiry comprising 60 economies, also comprising the European Union and America’s Iran war partner Israel, over what…

One Battle After Another and Sinners are two films set for big wins at the Oscars this weekend – but with the studio behind them potentially facing a huge takeover, industry experts say this is a time of great uncertainty in Hollywood. Warner Brothers has 30 Oscar nominations in total, more than any of its…

British fragrance entrepreneur Jo Malone is facing legal action over the use of her own name by cosmetics giant Estee Lauder Companies. Ms Malone set up her self-named Jo Malone perfume brand before selling it to the firm in 1999, in 2011 she launched a new fragrance label called Jo Loves. High Court records show…

Iran’s targeting of Middle East energy has driven oil prices back above the $100 a barrel level again, with market experts expressing increased alarm over the prospects for long term damage to the industry. Brent crude costs briefly hit $101 overnight after it emerged that key infrastructure in Gulf nations had been damaged or destroyed…

A record release of strategic oil reserves has been agreed in a bid to help offset supply disruption since the Middle East conflict began. The International Energy Agency (IEA) said it would coordinate a flow of 400 million barrels into the market, with the UK government contributing 13.5 million barrels. The body has barrels at…

The International Energy Agency (IEA), the developed nation body founded in the 1970s to deal with oil crises precisely like the one we’re now facing, has announced something extraordinary. Its members, which is to say most of the world’s rich nations, will release an unprecedented amount of oil from their national stockpiles into the global…

A Sainsbury’s store manager has won £12,000 after an International Men’s Day social media post left him feeling “humiliated and violated”. Darren Cooper was on leave for anxiety when his regional director put up a post celebrating male leaders who “all show up for work each day, put on a name badge and provide support,…

Iran’s move to shut the Strait of Hormuz has brought shipping through the 24-mile stretch of water close to a standstill. Only a handful of vessels have transited in recent days, many switching off their tracking systems or linked to “shadow fleets”. “They can’t physically close a waterway of that size, but the threat is…