Oil price pulls back and FTSE 100 rebounds after ‘TACO’ Trump post May 6, 2026 Oil prices took a step back from a gradual climb on Wednesday after President Trump announced he would pause his military escort operation through the Strait of Hormuz, prompting analysts to joke that the “TACO” president was back. The Brent crude oil price slipped below $100 per barrel amid hopes of a peace deal being [...]
Iran war costs Next £47m and may drive up prices May 6, 2026 Retail giant Next has said the ongoing disruption caused by the Iran War has hit it with a £47m increase in costs from climbing energy and transport prices. The FTSE 100 retail and homeware company said that the £27m increase, a sharp rise from it’s previous forecast of £15m, relates mainly to spikes in energy [...]
Trump officials claim Iran is ‘weaponising global trade’ May 5, 2026 The United States’ most senior military officer has warned that Iran’s sustained assault on commercial shipping threatens to destabilise the world economy, accusing the country’s leadership of deliberately weaponising the global supply chain. General Dan Caine, the former venture capitalist currently serving as chairman of the US joint chiefs of staff, made a stark intervention [...]
HSBC profit drops after Iran war and private credit charges bite May 5, 2026 HSBC missed its profit target in the first quarter of the year after the blue-chip lender booked a mammoth credit charge. The FTSE 100 giant – which boasts a huge £230bn market cap – recorded a pre-tax profit of $9.4bn (£6.5bn), missing the $9.6bn pencilled in by analysts. This figure is also down $100m on [...]
Trump turmoil sends oil prices back toward multi-year peak May 4, 2026 Iran hits back at president’s ‘Operation Freedom’ pledge for safe passage through the Strait of Hormuz; Brent up over 5 per cent to $114 a barrel The main international oil price surged back toward multi-year highs on Monday, as US President Donald Trump’s pledge to get tanker traffic moving through the Strait of Hormuz was [...]
Petrol retailers vindicated after Reeves ‘profiteering’ claims May 1, 2026 Petrol retailers have been vindicated of “price gouging”, pouring cold water on the government’s accusations of profiteering from the war in Iran. The Competition and Markets Authority (CMA) found that higher fuel prices in the UK were caused by the rising cost of oil, rather than by retailers expanding their margins to profit from the [...]
FTSE 100 Live: Stocks drop amid US-Iran war mixed messaging; House prices up May 1, 2026 Good morning and welcome back to the City PM liveblog. Markets are scrambling for some messaging this morning as tensions around the Iran war drag on. Donald Trump faced a deadline for today whether to formally end the war in Iran or make the case to the US Congress for extending it. But an official [...]
Oil price rockets to wartime high as Trump eyes fresh military action in Iran April 30, 2026 Brent oil surged to a new high during early-morning Thursday trading after reports that US president Donald Trump is set to receive a briefing on new military operations in Iran, raising fears over an end to the fragile ceasefire between the two nations. The global benchmark surged as much as 7.1 per cent this morning, [...]
Lloyds fires bank tax warning shot as industry ‘ripe for cash grab’ April 29, 2026 Lloyds Banking Group has warned the Treasury not to look at the banks for a tax raid as the industry sets its sights on booming profits in 2026. The FTSE 100 giant beat profit expectations by a cool £200m in the first-quarter after booking £2bn. This was also followed up by an upgrade to its [...]
Law firm ‘hopeful’ staff are back in Middle East office in May April 28, 2026 A major US law firm with a large London headcount is ‘hopeful’ staff will be returning to their desks in its Middle East office in less than a week, City PM understands. The firm is keen for lawyers to return to their seats in the Abu Dhabi office from 4 May, and has agreed to [...]
