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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

Xavier Niel buys 16% through investment vehicle Vega after Emirati telecoms group sells shareholdingThe French telecoms billionaire Xavier Niel has become Vodafone’s largest shareholder after buying a 16% stake for £4.4bn.On Friday, the Emirati telecoms group e&, which first took a stake worth £3.3bn in Vodafone in 2022, announced the sale of its entire shareholding for 112.5p a share. Continue reading...

Business secretary Peter Kyle says asset managers should feel a patriotic duty to make the UK a successBusiness live – latest updatesThe business secretary, Peter Kyle, has warned UK pension funds to “get off their high horses” and invest in Britain or be forced to do so by law.Expressing frustration at the level of investment in British companies after years of government initiatives, Kyle said the UK’s biggest asset managers “should feel a patriotic duty in making Britain a success”.

Prince Abdullah asserts he is still owed £35mShares allegedly transferred to new companyThe English Football League is investigating allegations that Sheffield United’s owner, the American investment group COH Sports, has formed a new parent company for the club to avoid paying £35m owed to the previous owner, Prince Abdullah.COH Sports, led by Steven Rosen and Helmy Eltoukhy, agreed a deal to buy United from the Saudi Arabian for about £100m in December 2024 and paid the first instalm

They suck up energy and water, and blast out heat. Just who is better off from all this investment – aside from tech bros?The two great existential threats of our time – the climate crisis and AI – come hurtling together in the explosion of datacentres across Australia and around the world.You can hardly avoid hearing about them these days, either with awed reverence of the promised benefits to humankind or with fear and anger given the implications for the climate, inflation, jobs and

The company’s target to hit £1bn profitability is intact. Why isn’t the board putting up a proper fight?Some foreign takeover swoops on UK listed companies are easier to swallow than others. Sometimes it is hard to mount an argument that shareholders should stick to the virtuous path of independence and say no to an offer of hard cash at a fat premium. The current £10bn bid for Intertek, the FTSE 100 product testing and quality inspection firm that had been going sideways for a while,