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Paramount’s Middle Eastern Billions in Warner Bid Gets EU Review
The Warner Bros. Studios in Burbank, California. Photographer: Ethan Swope/Bloomberg
100 days into Iran war: How rising costs are hitting consumers and businesses in Southeast Asia
100 days into Iran war: How rising costs are hitting consumers and businesses in Southeast Asia As the war on Iran marks its 100th day on Monday (Jun 8), CNA looks at how the geopolitical crisis is filtering into everyday life across the region. SINGAPORE: More than three months into the war on Iran, the aftershocks from disrupted Middle Eastern energy and shipping routes are being felt far beyond the oil market, from road construction sites in Malaysia to food and beverage operators in...
Republicans face ticking midterm clock as Iran fallout keeps pressure on gas prices
As the Trump administration weighs diplomacy and military pressure against Iran, a political clock is ticking at home. Even if the Strait of Hormuz — the global oil choke point largely shuttered since the conflict with Iran due to Iranian attacks — reopened immediately, it could take months for oil flows to return due to logistical bottlenecks involving trapped tankers, swollen inventories and damaged oil infrastructure, according to Kpler oil analyst Matt Smith, pushing normalization of...
Republicans face ticking midterm clock as Iran fallout keeps pressure on gas prices
As the Trump administration weighs diplomacy and military pressure against Iran, a political clock is ticking at home. Even if the Strait of Hormuz — the global oil choke point largely shuttered since the conflict with Iran due to Iranian attacks — reopened immediately, it could take months for oil flows to return due to logistical bottlenecks involving trapped tankers, swollen inventories and damaged oil infrastructure, according to Kpler oil analyst Matt Smith, pushing normalization of...
Airlines face profit crash: 2026 earnings nearly halved as fuel shock hits aviation
The global airline industry is set for a sharp downturn in profitability in 2026, with earnings almost halved compared to earlier forecasts, as the ongoing Middle East conflict pushes up fuel prices, disrupts key flight routes and strains airline operations worldwide. The International Air Transport Association said on Sunday that it now expects the industry to post a combined net profit of $23 billion in 2026, sharply down from an earlier estimate of about $41 billion and down from $45...
High fuel costs to trigger airline failures and consolidation, industry chief says
High fuel costs to trigger airline failures and consolidation, industry chief says Airlines are also expected to protect margins by cutting unprofitable routes, while fares, which have surged since the outbreak of the Iran war, are unlikely to come down soon, Walsh said. Soaring jet fuel prices driven by conflict in the Middle East are likely to push more airlines into bankruptcy and spur more sector consolidation this year and next, the head of the global airline body said on Saturday (Jun...
EU wants African sunlight to power Europe’s electric revolution
BRUSSELS — The European Union is betting that the future of its energy system lies under the North African sun. On Tuesday, the European Commission pledged €5 billion of EU money to renewables projects in North Africa and the Middle East, which could feed electricity back into Europe’s grid. The dream is that solar panels in the sun-soaked Sahara Desert and wind turbines along the southern and eastern shores of the Mediterranean generate electricity that is then sent through high-voltage...
Japan's economy cools on weak capex in Q1, revised data shows
Japan's economy cools on weak capex in Q1, revised data shows TOKYO, June 8 : Japan's economy lost momentum in the January-March quarter from the previous three months over sluggish capital expenditure, revised gross domestic product (GDP) data showed on Monday, pointing to challenges ahead due to the Middle East conflict. The GDP figures released by the Cabinet Office showed the economy expanded an annualised 1.8 per cent in the first quarter, compared with the initially estimated 2.1 per...
How Ed Miliband’s latest net zero pledge could affect you
How Ed Miliband’s latest net zero pledge could affect you The government has signed up to a legal target to cut the UK’s planet-heating emissions - Bookmark - CommentsGo to comments Ministers have set out the UK’s next step on the journey to net zero by 2050 as part of the country’s latest “carbon budget”. The government has signed up to a legal target to cut the UK’s planet-heating emissions by 87 per cent by 2040, Ed Miliband has confirmed, in line with official advice from the independent...
Live: Wall Street rebounds after semiconductor rout, OpenAI files to list
live Live: Wall Street rebounds after semiconductor rout, OpenAI files to list Wall Street markets have rebounded after yesterday's semiconductor rout, while artificial intelligence giant OpenAI has filed to become a public company. Follow the day's financial news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice.