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Business Apr 14, 2026

HSBC warns Iran conflict is eroding global economic confidence and inflating energy costs

HSBC chief executive Georges Elhedery said the Iran war is already denting worldwide economic confi…
HSBC’s chief executive, Georges Elhedery, told Bloomberg Television at a conference in Hong Kong that the ongoing Iran war is undermining global economic confidence. He warned that the conflict’s duration could amplify price pressures on commodities such as oil, refined products, fertilisers and metals, extending the impact far beyond the Middle East. Brent crude, which had briefly risen above $100 per barrel, slipped 0.9% to $98.5 per barrel after a U.S. blockade of Iranian ports took effect. Negotiations between the United States and Iran are set to resume in Islamabad, but no agreement was reached in the previous talks. In London, the FTSE 100 edged up 22 points (0.21%) to 10,605, even as Imperial Brands led the losers, citing a “more uncertain geopolitical and macro environment.” The UK recruitment firm PageGroup warned that the Middle East conflict is creating an “increasingly uncertain outlook” for the rest of the year, with salaries lagging behind 2022‑2023 levels across the UK, Europe, the Middle East and Asia. HSBC holds a 31% stake in Saudi Awwal Bank, making it one of the European banks most exposed to the region, which contributes roughly 4% of its pre‑tax profit according to JP Morgan analysts. Nevertheless, Elhedery noted that capital outflows from the Middle East have been “very benign” so far. Since the U.S. and Israel began striking Iran on 28 February, some affluent Middle‑Eastern investors have started exploring relocation to financial hubs such as Singapore and Hong Kong. HSBC chair Brendan Nelson stressed that a peace settlement is essential to restore global energy flows, warning that prolonged disruption would lift inflation and suppress growth. “The longer the disruption continues, the more the indirect effects from higher energy costs will lift inflation and depress growth,” he said at the HSBC Global Investment Summit. Manufacturers reliant on petroleum‑derived synthetic fabrics, such as sportswear maker Castore, reported cost increases of 10‑15% and warned that continued conflict could push those costs onto consumers. Co‑founder Tom Beahon described price volatility as “very difficult to plan,” with daily swings of up to 40%. Logistics are also strained: airlines have reduced flights and vessels remain stranded in the Strait of Hormuz, complicating product shipments. Castore hopes that a resolution in the coming weeks will limit the impact on customers. Virgin Atlantic chief executive Corneel Koster told the Financial Times that jet‑fuel prices have more than doubled since the war began, adding that “some of this disruption to global energy prices will be here to stay.” UK Chancellor Rachel Reeves, speaking at the IMF and World Bank spring meetings, called for coordinated economic action, stating that the Iran conflict must become “a line in the sand” for how the world handles crises and instability.
#HSBC #Iran #oil prices
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Politics Apr 13, 2026

Gambling Reform Advocate Calls for Pause on Affordability Checks

Dr. James Noyes, a key advocate for gambling reform, has called for a pause on the implementation o…
Dr. James Noyes, a prominent advocate for gambling reform, has urged the UK government to pause the implementation of affordability checks for online gamblers. Noyes, who initially proposed the idea of affordability checks in 2020, expressed concerns that the current pilot scheme has raised serious questions that need to be addressed before proceeding.Noyes' call for a pause echoes similar concerns raised by senior figures in the horse racing industry, which fears that the checks could disproportionately affect racing bettors and cost the industry tens of millions of pounds in revenue.The Gambling Commission launched a pilot study on financial risk assessments in September 2024 to assess a two-tier system of checks. However, Noyes and others have raised concerns over the lack of transparency and inconsistent data in the pilot scheme.Noyes emphasized that while affordability checks were initially proposed as a worthy idea, their implementation must be carefully considered to avoid impeding the majority of gamblers from engaging in a lawful activity. He also highlighted the need for a gambling ombudsman to ensure proper treatment of consumer redress and rights.A spokesperson for the Gambling Commission stated that the regulator is working on financial risk assessments with a focus on removing friction for consumers. The Commission has yet to publish a final report on the pilot and has not issued an update on its progress since the spring of 2025.
#Dr. James Noyes #UK Gambling Commission #Horse Racing Industry
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World Economy Apr 13, 2026

El Niño Alert: Experts Warn of Potential 'Super El Niño' and Record Global Temperatures

There is a high likelihood that El Niño will emerge this summer, potentially leading to a 'super El…
Experts are closely monitoring climate patterns in the Pacific Ocean, which indicate a high chance of El Niño developing this summer. A strong El Niño event could lead to severe weather conditions, including super-charged rainstorms and droughts, depending on the region. A 'super El Niño' could push 2027 to break global heat records, according to climate scientists. This phenomenon occurs when ocean surface temperatures in the central and eastern tropical Pacific Ocean warm up, leading to significant impacts on global weather patterns. El Niño is characterized by warming of the ocean surface in the central and eastern tropical Pacific Ocean. It's one of three states scientists observe: La Niña, conversely, happens when sea surface temperatures are below average, and neutral conditions are defined when neither El Niño or La Niña are present and surface temperatures are about average. The 'El Niño-southern oscillation' (Enso) tends to develop during spring in the northern hemisphere and shifts every three to seven years. Warming and cooling at sea surface during El Niño and La Niña can range from 1C to 3C, and have enormous effects on precipitation, drought, heat, and climate disasters in different regions. Conditions are currently shifting from La Niña to a neutral pattern, according to the latest outlook from the US Climate Prediction Center. Models show a 62% chance El Niño will emerge this summer and linger until at least the end of the year. A super El Niño that occurred in 2015 brought severe drought in Ethiopia, water supply shortages in Puerto Rico, and smashed records after unleashing a vicious hurricane season in the central North Pacific. A 'super' El Niño means one that is stronger, typically defined by sea surface temperatures spiking up to at least 2C. Noaa scientists have given a 1 in 4 chance that this could happen by fall or winter, with the caveat that spring forecasts are sometimes muddled. Transitions in conditions that happen in the spring can make outcomes a bit harder to predict. Experts warn that a strong or super El Niño could lead to drought and heat across Australia, southern and central Africa, India, and parts of South America. Heavy precipitation, meanwhile, could hit the southern tier of the US, parts of the Middle East, and south-central Asia.
#temperatures #year #climate
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Environment Apr 13, 2026

Spring in the Lake District: Keswick’s Timeless Landscape Balances Floods and Farm Life

Enid J Wilson’s 1976 Country Diary entry paints a vivid picture of an early‑April morning in Keswic…
At the break of day in Keswick, the air still carries a chill despite it being April. From a drystone wall on St John’s Vale, I watched the sky race past Helvellyn, while bright daffodils bowed on a nearby farm as if shivering in the breeze. The surrounding trees stood still, and a shaft of sunlight ignited the bracken below the crags, turning it a vivid colour that starkly contrasted with the dead grass and dark scree. This scene illustrates a place where change has settled gently, with farms preserving their protective belts of trees that nestle comfortably against the fell’s edge.The low fields echoed with the call of curlews, and although some farmers elsewhere lament a lack of moisture, the land here was saturated; the river ran brown with flood‑water and the becks churned white. Many ewes were gathered for lambing, yet one independent ewe chose to give birth alone on a small green shelf in a ghyll above a stream. The newborn lamb was still damp and trembling when a farmhand arrived in his tractor, loading the pair onto a hay‑lined trailer to bring them back to the safety of the farm, fearing the lamb might tumble into the beck as its mother went to drink.
#Keswick #Lake District #Enid J Wilson
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Sports Apr 12, 2026

Pep Guardiola’s Spring Surge: City’s 3‑0 Chelsea Win Narrows Title Gap with Arsenal

Manchester City’s dominant 3‑0 victory over Chelsea, highlighted by a early header from academy gra…
Manchester City delivered a commanding 3‑0 win at Stamford Bridge on April 12, 2026, a result that brings them within a single game’s reach of the league leaders, Arsenal. The victory, part of City’s impressive April record of 19 wins and 4 draws from 23 matches, underscores Pep Guardiola’s reputation as a spring‑time title avenger. The opening goal arrived in the 10th minute when Nico O’Reilly headed a close‑range effort past the Chelsea keeper, a moment described as a “free header” that ignited the Etihad‑like atmosphere among the travelling fans. Within the next 17 minutes, Marc Guéhi and Jérémy Doku added their names to the scoresheet, exposing a Chelsea defence that resembled a “shop‑worn bead curtain”. Guardiola’s side now sits six points behind Arsenal with a game in hand. A win at the Etihad next Sunday would reduce the deficit to three points, and a subsequent victory at Burnley could see the two clubs level on points, with City holding the superior goal difference. Arsenal, meanwhile, are grappling with a dramatic slump. After a nine‑point lead that seemed unassailable, the Gunners suffered a home defeat to Bournemouth, leaving them vulnerable to a potential “quadruple collapse” over the next sixteen days. City’s recent form has been nothing short of dominant: in their last three fixtures they have beaten the league leaders, the title‑holders, and the Club World Champions, scoring nine goals while keeping a clean sheet. The squad’s depth is evident, with five different scorers contributing to the tally. In contrast, Chelsea’s performance highlighted the widening gulf at the top of the table. Manager Liam Rosenior, still finding his footing after a mid‑season appointment, has yet to secure a win against the league’s elite, having lost to Guardiola, Luis Enrique and Mikel Arteta. Guardiola, ever the seasoned tactician, appeared composed even when Chelsea showed brief bursts of energy. His sideline attire—a practical anorak and brown shoes—mirrored his methodical approach, while midfield dynamo Bernardo Silva moved with the poise of a “captive prince” amid the chaos. As the season edges toward its climax, City’s blend of experience, tactical flexibility, and spring‑time confidence positions them as genuine title contenders. The next few weeks will determine whether Guardiola’s “alpha‑dog” energy can finally translate into the Premier League crown, or if Arsenal can rally to retain their lead.
#city #like #title
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Environment Apr 12, 2026

UK Gardens Losing Ground: RHS Finds 42% Paved Over as Conservationists Call for Wild‑Space Revival

A recent RHS audit reveals that 42% of Britain’s garden area has been concreted, sparking alarm amo…
Springtime in a typical British suburb is a chorus of birds, buzzing insects and the occasional rumble of a mini‑digger. While sparrows spar and tits clash over territory, a crew of contractors is often busy erasing hedges, bushes and trees, leaving behind a stark trench of bare earth. In one April afternoon, a once‑lush front garden was reduced to a skip full of uprooted branches and a strip of exposed soil. Despite the nation’s reputation as a garden‑loving society, the trend toward concrete is accelerating. An RHS audit published last year found that 42% of domestic garden space in the United Kingdom has been paved over, with timber fences replacing wild privet and driveways smothering mossy lawns. The loss is not merely aesthetic; it erodes habitats that support a remarkable share of the country’s wildlife. According to the Royal Horticultural Society, over 50% of Britain’s butterflies, amphibians and reptiles, and more than 40% of its bird and mammal species rely on garden habitats. The new David Attenborough series Secret Garden underscores this, describing urban gardens as “almost as diverse as a tropical rainforest.” Yet, as the series aired, another garden was being stripped to the ground, highlighting the tension between media‑driven reverence and on‑the‑ground reality. Socio‑economic factors compound the issue. One in eight households in the UK has no garden at all, and lower‑income families and ethnic minorities are disproportionately deprived of green space. Even owners of gardens often lack the time, money, or confidence to cultivate biodiverse oases, viewing gardening as a burdensome chore. Experts suggest a radical, yet simple, alternative: do nothing. Allowing dandelions, thistles, and stray grasses to flourish provides nectar for pollinators, while bare patches become nesting sites for bees and birds. Unraked leaves serve as winter shelters for insects, and dead stalks become food for aphids, which in turn feed higher‑up predators. The “negative space” of an untended garden can therefore become a hotbed of ecological activity. Conservationists argue that embracing this messiness could reverse the decline of urban biodiversity. As one commentator mused, “If Sir David Attenborough could return for a bonus episode, he might show us that a tangled, overgrown garden is not a failure but a vibrant ecosystem in its own right.” By Emma Beddington, 12 April 2026
#Royal Horticultural Society #UK gardens #wildlife refuges
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World Economy Apr 12, 2026

Global Markets on Edge as US-Iran Talks Collapse, Fueling Fears of Prolonged Energy Crisis

The collapse of US-Iran talks has heightened fears of a prolonged energy shock, with oil prices flu…
The collapse of talks between the US and Iran has sent shockwaves through global markets, fuelling fears of a prolonged energy crisis and rising inflation. The failure to reach a peace deal has left large numbers of oil tankers stuck in the Persian Gulf, with oil prices fluctuating wildly in response to the uncertainty.US Vice-President JD Vance has blamed the collapse of the talks on Tehran's refusal to abandon its nuclear weapons programme, while Iranian sources have hit back at what they describe as 'excessive' demands from Washington. The stalemate has raised concerns about the long-term impact on the global economy, with governments and central banks warning of higher inflation and interest rates.Mohamed El-Erian, an adviser to Allianz, has cautioned that uncertainty will continue to dominate assessments of the financial impact from the conflict. 'Absent a swift resumption of negotiations, the immediate reaction of financial markets when they open for the trading week will be to push oil prices higher and borrowing costs higher,' he said.The International Monetary Fund and World Bank's spring meetings in Washington will focus on the war's impact on the global economy, with the IMF's managing director, Kristalina Georgieva, indicating that the fund will present three scenarios predicting lower economic growth and higher inflation. The IMF is also expected to highlight the impact on vulnerable economies.In the short term, oil prices have ended the week lower, with Brent crude at $94.26 a barrel and West Texas Intermediate crude at $95.63 a barrel. However, global stock markets have rebounded after a temporary ceasefire was announced, with the S&P; 500 close to its level before the US-Israeli attacks on Iran began.
#oil #week #attacks
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Commentisfree Apr 11, 2026

Springtime Picnic Cartoon by Madeline Horwath

Madeline Horwath creates a cartoon about spring picnics for The Guardian's Saturday Opinion section.
Madeline Horwath has created a new cartoon for The Guardian's Saturday Opinion section, focusing on spring picnics. The illustration is part of the publication's ongoing series of cartoons that provide humorous commentary on various topics.The cartoon, published on April 11, 2026, offers a visual take on the joys of picnics during spring, a season often associated with outdoor activities and gatherings. Horwath's work is known for its engaging and thought-provoking style, making complex issues more approachable through humor and satire.Readers can explore more on topics related to picnics, spring, and food through The Guardian's website, which features a range of articles and opinion pieces on these subjects.
#picnics #spring #cartoon
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Features Apr 11, 2026

Israeli Settlers Celebrate Ethnic Cleansing During Passover in Occupied West Bank

Israeli settlers have been celebrating during Passover in areas they have recently displaced Palest…
During the Jewish festival of Passover, thousands of Israeli settlers converged on natural springs in the occupied West Bank, areas that were previously used by Palestinian communities. Videos circulating on settler chat groups show settlers wading and splashing in the same natural pools where Palestinian children once swam. Their parents barbecued nearby, expressing elation and crediting the 'hilltop youth' – young settlers carrying out systematic violence against Palestinians – for making this possible.The celebrations come as 1,727 Palestinians from 36 communities in the West Bank were displaced in the first three months of 2026 due to settler violence and access restrictions, according to the United Nations' Office for the Coordination of Humanitarian Affairs (OCHA). This already exceeds the highest annual figure recorded in any of the previous three years.For Palestinians like Haitham al-Zayed, 24, who was forcibly displaced from Shallal al-Auja by Jewish settlers, watching the videos was 'very hard to see' but unsurprising. He described the escalating violence and intimidation his community faced, including armed settlers on all-terrain vehicles funded by the Israeli government, chasing livestock and children, and raiding homes to interrogate or detain residents.Allegra Pacheco, chief of party of the West Bank Protection Consortium, described the videos as more than provocation, potentially evidence of the celebration of the intentional use of violence by Israeli settlers to forcibly displace Palestinians – a serious violation of international law. 'The praising of ethnic cleansing carried out by these settler youth,' she said, 'it’s really showing both the impunity and the lack of accountability we are seeing right now.'The displacement and violence have left many Palestinians, like Muhammad from Hammam al-Maleh, refusing to leave their homes despite the danger. 'I was born here. I was raised here. I am not willing to leave. Even if I die here – I will die happy, because I stayed on my land,' he said.
#settlers #not #area
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