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Brent crude rises over $85 a barrel after US carries out third night of strikes against IranGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Oil prices rose more than 2% after the conflict in the Middle East worsened, with the US carrying out a third consecutive night of strikes against Iran. Two tankers came under fire in the strait of Hormuz.Stasis has taken over markets as investors wait for the latest twist in the Iran confl

Robust action is needed to protect European industries from unfair competition. The alternative is social strife amid growing insecurityAccording to a recent analysis, China enjoys a surplus in its manufactured goods trade with the European Union that is roughly equivalent to Italy’s national income. That trade disparity, it is estimated, continues to grow by about 30% each year. The stark implication, according to a paper from Centre for European Reform, is that Europe, with Germany i

Brent crude jumps 3.4% and European markets drop, with airlines including Ryanair among hardest hitBusiness live – latest updatesOil prices jumped and stocks fell after the US launched a fresh wave of attacks against Iran amid an escalating standoff over the strait or Hormuz.Brent crude, the international benchmark for oil prices, rose 3.4% to $78.59 a barrel on the renewed hostilities in the Middle East. It had been trading at $72.48 before the outbreak of the war in February, and hit

Ursula von der Leyen’s commitment comes after panel of experts calls for restriction for under-13sThe European Commission president, Ursula von der Leyen, has pledged an EU-wide social media ban for children after an expert group called for restrictions for those under 13.“It is clear we need age-appropriate restrictions to platforms,” von der Leyen told reporters after the publication of a report on child safety online. Continue reading...

Asian shares tumble with South Korea’s Kospi down nearly 10%Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.It’s a gloomy start to the week as attacks between the US and Iran in the Gulf continue. Tehran said it had closed the strait of Hormuz, while Donald Trump insisted the key shipping passage remained open and US officials said 20 ships were escorted through the waterway in the past 24 hours.For now, we remain hopeful that

Regulators say Facebook and Instagram features such as autoplay and infinite scroll contribute to ‘compulsive use’EU regulators have accused Meta, the company behind Facebook and Instagram, of failing to tackle the risks of its “addictive design” on the physical and mental health of users.In an official charge sheet against Meta released on Friday, the European Commission said features such as video autoplay and infinite scroll, which provides an endless stream of content, “shift the b