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World Economy Apr 10, 2026

Europe Faces Imminent Jet Fuel Shortage as Hormuz Blockade Persists, Threatening Summer Travel

European airports warn that a prolonged closure of the Strait of Hormuz could trigger a systemic je…
European airports have issued an urgent warning that jet fuel shortages could materialise within the next three weeks if the Strait of Hormuz remains closed.Airports Council International (ACI) Europe addressed a letter to EU transport commissioner Apostolos Tzitzikostas, stating the bloc is only three weeks away from a systemic shortage.The threat is linked to the ongoing US‑Israel conflict with Iran, which has effectively shut the strait—a key shipping lane for Gulf oil exports—pushing Brent crude to around $96 per barrel, up from roughly $72 before the hostilities.ACI warned that without a stable resumption of traffic through Hormuz within three weeks, a “systemic jet fuel shortage is set to become a reality for the EU.”Jet‑fuel prices have more than doubled year‑on‑year, reaching $1,650 per tonne according to IATA data. Europe’s price surge stands at 138%, while Asia has seen a 163% increase.Ryanair chief Michael O’Leary highlighted that the United Kingdom, heavily dependent on Kuwaiti supplies, is the most vulnerable market in Europe.Shipping data from Vortexa shows the last Gulf‑origin jet fuel cargo for Europe is due in Copenhagen tomorrow, following a partial delivery to Rotterdam earlier this week. The final tanker bound for the UK arrived in Kent on Tuesday.More than 60% of Europe’s jet fuel traditionally comes from Gulf refineries, with over 40% shipped via the Hormuz corridor. The blockade forces European buyers into direct competition with Asian carriers for alternative cargoes.Australian investment bank Macquarie notes that jet fuel lacks the pipeline alternatives available to crude oil, making the market especially vulnerable. Even if shipments resume, the refined‑product market could take two to three months to normalise, lagging behind crude markets.Airlines have already begun trimming schedules and raising fares, a trend that will feed into broader inflationary pressures. A genuine shortage could force travelers and businesses to postpone trips and shipments, deepening economic damage.ACI called for proactive EU monitoring and action, warning that the peak summer travel season—critical to many economies—could be hit hard if fuel supplies falter.IATA director‑general Willie Walsh cautioned that even with the strait reopened, restoring adequate supply will take months due to disrupted refining capacity in the Middle East. IATA had previously projected a 4.9% year‑on‑year growth in passenger traffic for 2026.
#europe #iata #ryanair
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World Apr 10, 2026

Iran's Nuclear Leverage Grows Amid US-Israeli Conflict

The ongoing conflict between the US and Israel and Iran has given Tehran new leverage in its nuclea…
The ongoing conflict between the US and Israel and Iran has significantly altered the dynamics of the nuclear programme negotiations. Former US envoys who dealt with Iran have stated that the US-Israeli attack on Iran and Tehran's subsequent closure of the Strait of Hormuz have given Iran new tools and resolve to resist pressure to shutter its nuclear programme.Two senior negotiators for the Joint Comprehensive Plan of Action (JCPOA), the Obama-era agreement to limit Iran's nuclear uranium enrichment in exchange for sanctions relief, said the Trump administration's war had handed Iran a coveted weapon by demonstrating its ability to cut off the Strait of Hormuz, an economic chokehold that one negotiator said would help Iran 'balance the asymmetry of power' with the US.Alan Eyre, a former diplomat who helped negotiate the JCPOA, noted that 'this administration, to say it more politely, cannot unsoil the bed. There's no way to get back to the status quo ante before this war started.'In 2018, Donald Trump withdrew the US from the JCPOA, which barred Tehran from enriching its uranium to weapons-grade. Trump called the deal 'one of the worst and most one-sided transactions' the US had ever entered into.However, after a strategy of high pressure – first through returning sanctions and then, after Trump's return to power in 2025, a war that was meant to destroy Iran's nuclear and ballistic missile capabilities – the current US administration has found itself in more complex negotiations than before its campaign of economic and military strikes.Robert Malley, a Yale lecturer who was former special envoy to Iran under Joe Biden and a lead negotiator on the JCPOA, said: 'The strait of Hormuz wasn't an issue before the US decided to strike. You have all the issues inherited from the past, but you just added a few, because the US has handed Iran a tool that it always had, but it never thought of using, or never felt it could.'The chances for a comprehensive agreement addressing all of the US and Iran's grievances appear slim. While the Obama administration sought to negotiate exclusively on Iran's nuclear programme in the lead-up to the 2015 agreement, the Trump administration has sought a broader deal limiting Iran's ballistic missiles programme and its support for regional proxies, such as Hezbollah in Lebanon and the Houthis in Yemen.
#iran #trump #administration
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Tech Apr 10, 2026

US Treasury Secretary Warns Banks of Cyber Risks from Anthropic's AI Model

The US Treasury secretary summoned major American bank chiefs to discuss concerns over the cyber ri…
The US Treasury secretary, Scott Bessent, recently convened a meeting with major American bank chiefs in Washington to address growing concerns over the cyber risks associated with Anthropic's latest AI model, Claude Mythos. This model has reportedly exposed thousands of vulnerabilities in software and popular applications.The meeting, which included Jerome Powell, the Federal Reserve chair, and CEOs from prominent banks such as Goldman Sachs, Bank of America, Citigroup, Morgan Stanley, and Wells Fargo, was called to discuss the potential risks posed by this advanced AI technology. Jamie Dimon of JP Morgan was invited but could not attend.Anthropic has restricted the release of Claude Mythos to a limited number of businesses, including Amazon, Apple, and Microsoft, due to concerns that hackers could exploit the model's capabilities to compromise data security. The company has noted that the model uncovered vulnerabilities up to 27 years old that had not been previously identified.This development comes as the US government has designated Anthropic as a supply chain risk, a designation the company is contesting in court. The meeting highlights the increasing concern among regulators and financial leaders about the potential for AI to both enhance and threaten cybersecurity.
#US Treasury #Anthropic #Claude Mythos
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Sports Apr 10, 2026

Roberto De Zerbi's Apology for Mason Greenwood Comments Highlights Male Violence Against Women in Football

Roberto De Zerbi, Tottenham's head coach, apologized for past comments about Mason Greenwood, a for…
Roberto De Zerbi, the new head coach of Tottenham, recently apologized for his past comments about Mason Greenwood, a forward he managed at Marseille. De Zerbi's apology was seen as insufficient by some, as it focused on his self-description rather than taking accountability for his words. Greenwood had denied charges of attempted rape, controlling and coercive behavior, and assault occasioning actual bodily harm in 2022, and the case was discontinued. The conversation around De Zerbi and Greenwood has brought the issue of male violence against women back to the center of football's public discourse. Research has shown that men who perpetrate serious harm rarely identify themselves as perpetrators, and instead displace blame onto the victim, alcohol, or circumstance. This is why character references, although sincerely offered, are often inadequate in addressing the issue. Male violence against women is not an isolated issue, but rather a product of societal norms that shape what is seen, named, and tolerated. The World Health Organization and decades of academic research on gender and masculinity have consistently identified these norms as the root cause of the problem. Football is not immune to this issue, and research has shown that strong group cultures in sport can inhibit men from speaking up against harmful behavior. Men in positions of power, such as De Zerbi, have a responsibility to use their platform to speak out against male violence and to educate others about the impact of their behavior. Genuine ownership and accountability require men to name what was wrong with their actions, accept the impact of their behavior, and commit to not repeating it. De Zerbi's response fell short of this standard, and instead offered a character reference for himself. Football has a unique influence on society, particularly among young men, and it is essential that players, managers, and clubs use this influence to shape positive attitudes and behaviors. The heat generated by this incident has put male violence against women on the front pages of sports coverage, and it is crucial that the game uses this momentum to have a serious conversation about what it teaches, tolerates, and expects of men at every level.
#not #what #men
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Politics Apr 10, 2026

Australian Greens push $1 bn arms freeze on Israel to stop lethal strikes in Lebanon

The Australian Greens are urging the federal government to intensify diplomatic and economic pressu…
The Australian Greens are calling on the federal government to apply direct diplomatic and economic pressure on Israel to end its intensive air strikes on Lebanon, describing the conflict as a “disastrous, illegal, immoral war.” Party defence spokesperson David Shoebridge said Australia should join the growing list of nations demanding that southern Lebanon be part of the cease‑fire framework being negotiated between the United States and Iran. Prime Minister Anthony Albanese and Foreign Minister Penny Wong have already signalled that Lebanon must be included in any cease‑fire agreement, but Shoebridge argued that mere statements are insufficient. He told ABC Radio that “Penny Wong saying she’s gravely concerned will not stop the illegal bombing or the plan to turn southern Lebanon into a new Gaza.” Lebanese authorities report that the war, which began in April, has already claimed the lives of more than 1,700 civilians, with over 300 deaths recorded in a single 24‑hour period following the announcement of a cease‑fire in the Iran conflict. To exert tangible pressure, Shoebridge proposed that Australia cancel more than $1 billion in Israeli arms contracts. He argued that such a move would not only address the moral outrage over the attacks but also deliver “real material pressure” on Israel to withdraw its forces. The Department of Foreign Affairs and Trade has warned Australians to avoid travel to Lebanon and is urging residents to leave while commercial flights remain available, citing a rapidly deteriorating humanitarian situation, displacement crises, and the risk of sudden airspace closures. In a separate development, former Prime Minister Tony Abbott urged the government to deploy troops alongside U.S. forces, claiming Australia had “betrayed our values and long‑term national interest.” Abbott framed the conflict as part of a broader effort to curb Iran’s nuclear ambitions and protect freedom of navigation in the Hormuz Strait. His remarks were rebuffed by Health Minister Mark Butler, who emphasized that Australia’s current support is limited to defensive assistance for the United Arab Emirates and that there is no public appetite for offensive deployments in the Middle East. Energy Minister Chris Bowen reiterated that any cease‑fire must extend across the region, stating that “Lebanese people have the same rights as anyone else in the Middle East” and that Israel should honour the cease‑fire “in both letter and spirit.”
#Australian Greens #Israel #Lebanon
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Politics Apr 10, 2026

Hezbollah's Role in Iran Ceasefire Talks Sparks Stalemate

Hezbollah's involvement is a major obstacle in Iran ceasefire negotiations, complicating efforts to…
The ongoing Iran ceasefire talks have hit a roadblock, with Hezbollah's role emerging as a significant sticking point. The militant group's involvement in the negotiations has raised concerns among various stakeholders, making it challenging to achieve a peaceful resolution.Hezbollah, a Shiite Islamist organization based in Lebanon, has been closely aligned with Iran, which has been a key player in the conflict. The group's presence in the talks has sparked fears that Iran's interests may not be fully addressed, potentially undermining the ceasefire.Efforts to broker a ceasefire have been ongoing, with multiple parties involved in the negotiations. However, the issue of Hezbollah's involvement has complicated matters, highlighting the complexities of the conflict and the need for a comprehensive solution.
#Hezbollah #Iran #Ceasefire negotiations
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World Economy Apr 10, 2026

Global Economy on Brink of Stagflation: What You Need to Know

The global economy may be heading towards stagflation, a situation characterized by stagnant econom…
The world economy is facing a potential threat of stagflation, a scenario where economic growth stagnates while inflation remains high. This situation can have far-reaching consequences, including reduced purchasing power, increased unemployment, and decreased investor confidence.Stagflation is a challenging economic phenomenon to address, as traditional monetary policy tools may not be effective in combating both stagnant growth and high inflation simultaneously. Economic experts are closely monitoring the situation, and policymakers are likely to face significant challenges in navigating this complex economic landscape.The possibility of stagflation has significant implications for businesses, investors, and individuals, as it can impact everything from consumer spending and investment decisions to the overall stability of financial markets. As the situation continues to unfold, it is essential to stay informed and adapt to the changing economic environment.
#world #economy #heading
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News Apr 10, 2026

Iran warns US that supporting Israel’s Lebanon offensive would ‘dumbly’ undermine regional ceasefire

Iranian Foreign Minister Abbas Araghchi cautioned that the United States would be acting foolishly …
Iranian Foreign Minister Abbas Araghchi warned on Thursday that it would be "dumb" for the United States to permit Israel to jeopardise the newly‑declared regional ceasefire by persisting with its intense bombardment of Lebanon, a campaign that has already claimed hundreds of lives. Araghchi noted that Israeli Prime Minister Benjamin Netanyahu’s corruption trial is set to resume on Sunday, suggesting the prime minister may have ulterior motives for sustaining the fighting. He wrote on social media that a ceasefire encompassing Lebanon would "hasten his jailing," implying that the truce could pressure Netanyahu’s legal woes. Addressing Washington directly, Araghchi said: "If the US wishes to crater its economy by letting Netanyahu kill diplomacy, that would ultimately be its choice. We think that would be dumb but are prepared for it." The statement echoes language used by U.S. Vice President JD Vance the previous day, who warned that Iran would find it "dumb" to let the ceasefire collapse over Lebanon, yet framed it as a choice for Tehran. Since the ceasefire was announced on Tuesday, the dispute over whether it applies to Lebanon has become a central obstacle to sustaining the truce. Iranian officials and media have hinted that Tehran could respond militarily to Israel’s assault on Lebanon or even block the Strait of Hormuz to enforce a Lebanon‑wide ceasefire. President Donald Trump told NBC News that he had spoken with Netanyahu and urged the Israeli government to "scale back" its operations in Lebanon, describing the approach as "low‑key." Vance also reported that Israeli officials had agreed to "check themselves a little bit in Lebanon." Despite these diplomatic overtures, the violence shows no sign of abating. The death toll from recent Israeli strikes in Lebanon has already surpassed 300, marking one of the deadliest days in the country’s recent history. On Thursday, Israel launched several new attacks, including a strike that killed four rescuers in the southern town of Borj Qalaouiye, and issued a displacement order for Beirut’s Jnah district, home to two major hospitals and tens of thousands of residents and displaced persons. The United States has a track record of asserting that Israel will curb its military actions, only to witness continued strikes. In 2024, the Biden administration insisted that Israel’s operation in Rafah was "limited," yet the Israeli military ultimately razed nearly every structure in the city, a tactic now hinted at for southern Lebanon. The Lebanese conflict escalated into full‑scale war in early March after Hezbollah fired rockets in retaliation for Israeli strikes and following the killing of Iranian Supreme Leader Ayatollah Ali Khamenei on February 28. Since a separate November 2024 ceasefire, Israel has maintained near‑daily attacks on Lebanon, targeting civilian infrastructure and deepening the humanitarian crisis.
#iran #israel #lebanon
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Politics Apr 09, 2026

Deadly English Channel Crossing: Four Migrants Die Off French Coast

Four people died attempting to cross the English Channel from France to the UK. The incident occurr…
A tragic incident unfolded early on Thursday off the northern coast of France, near Calais, as four people died while attempting to board an inflatable dinghy to cross the English Channel to the UK. The group of migrants waded into the sea to reach a small boat positioned offshore, but things went wrong, and they struggled in the water.Christian Fourcroy, the mayor of Equihen-Plage, confirmed that two women and two men lost their lives in the incident. A fifth person remains in a critical condition. Emergency services launched a rescue operation along the coastline between Equihen and Ecault, France, and 38 other people were rescued, including one with a medical emergency.The Boulogne prosecutor has opened an investigation into the deaths. This incident is part of a surge in attempted crossings and deaths in recent days. French maritime authorities reported rescuing 102 people in two separate operations on Wednesday while trying to cross the channel. Just last week, two people died in a similar incident off the coast north of Calais.Despite heightened enforcement efforts by France and the UK, 4,776 people crossed the channel between January 1 and April 4 this year, following over 41,000 crossings in 2025. The UK remains a destination for many undocumented migrants due to family ties, language, and the prospect of work. However, the journey is frequently perilous, with overcrowded boats and unpredictable conditions putting lives at risk.The issue has intensified political debate across Europe, with Paris and London seeking to deter crossings through a 'one in, one out' scheme, allowing some migrants to enter the UK legally in exchange for the return of others who arrive by boat. Rights groups argue that such measures fail to address the root causes driving people to risk the journey, emphasizing the need for safer pathways to be created.
#English Channel #Calais #French coast
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