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At the start of 2026 Pakistan was sitting on a surplus of imported liquefied natural gas (LNG). Three consecutive years of falling demand – from a peak of 8.2 million tonnes in 2021 to 6.1 million tonnes by late 2025 – were driven by cheap solar panels and reduced industrial activity. The government responded by quietly selling excess cargoes abroad and shutting down domestic wells to avoid over‑pressurising pipelines. Any gas that could not be diverted would have been pushed into household networks at a loss, adding billions to the sector’s crippling debt. Everything changed on 28 February when the United States and Israel launched the "Epic Fury" operation against Iran. The strikes killed Supreme Leader Ali Khamenei and targeted missile sites, air defences and military infrastructure. Iran retaliated with hundreds of missiles and drones, choking traffic through the Strait of Hormuz – a chokepoint for roughly 20 % of global oil and gas. As part of its retaliation, Iranian drones hit Qatar’s Ras Laffan Industrial City on 2 March, the world’s largest LNG export hub. Qatar, the second‑largest LNG exporter after the United States, declared force majeure and halted all production, releasing it from contractual delivery obligations. The fallout was immediate. Qatar’s forced shutdown cut its LNG output by 17 % and disrupted the supply chain that fuels Pakistan, which sources almost all of its imported gas from Qatar and the United Arab Emirates. Pakistan’s LNG arrivals plummeted from 12 shipments in January to just two in March. Monthly cargo data from the Oil and Gas Regulatory Authority (OGRA) show that the country received between eight and twelve shipments a month through 2025, but only two arrived after the conflict began. Price pressure followed. On 13 February state‑owned Pakistan State Oil and Pakistan LNG Limited bought eight cargoes at an average of $10.47 per MMBtu (totaling $257.1 million). By 12 March the two cargoes that did arrive cost $12.49 per MMBtu – a 19 % increase in just one month. Long‑term contracts have left Pakistan with little flexibility. Two government‑to‑government agreements with Qatar, spanning 15 and 10 years, commit the country to nine shipments a month. Even as domestic demand fell – LNG’s share of Asian markets dropped from ~30 % in 2020 to ~18 % in 2025 – the contracts remained binding. Solarisation has been a double‑edged sword. By 2025 Pakistan installed 34 GW of solar capacity, with about 25 GW feeding the national grid, driving an 11 % decline in overall electricity demand between 2022 and 2025. Gas‑fired power plants built for imported LNG are now under‑utilised, especially during daylight hours. Analysts warn that the surplus was predictable. “Pakistan’s energy planning has been locked into long‑term contracts with little room for adjustment,” says Haneea Isaad of the Institute for Energy Economics and Financial Analysis (IEEFA). The resulting circular debt now stands at 3.3 trillion rupees (≈ $11 billion), and the government is negotiating to off‑load 177 unwanted shipments worth $5.6 billion through 2031. With Qatar’s LNG shipments effectively halted, the country faces a potential shortfall of more than 21 % of its power generation capacity. The National Electric Power Regulatory Authority confirmed that LNG supplies are under force majeure, while coal imports from South Africa and Indonesia continue. To mitigate the gap, Pakistan is reviving domestic gas production that had been throttled during the surplus period. Roughly 350–400 million cubic feet per day of domestic gas were previously held back for LNG imports, now being released to the grid. Nevertheless, analysts caution that even with restored domestic gas, imported coal and hydropower, “the energy shortage may persist, especially during the peak summer months.” Summer pressure is already building. The State of Industry Report 2025 recorded peak electricity demand of over 33,000 MW last summer, while winter demand sits around 15,000 MW, helped by solar generation of 9,000–10,000 MW daily. Furnace oil, the primary backup fuel, now costs 35 rupees per unit (≈ $0.12), more than double since the Strait of Hormuz disruption. Consumers with grid electricity face higher bills and possible outages; industrial users reliant on gas risk production cuts; those equipped with rooftop solar and battery storage are best insulated. “Returning to the spot market is unlikely given Pakistan’s dire financial position, and competing with wealthier nations would price the country out,” Isaad warns. “The realistic outcome may be planned load‑shedding of two to three hours daily.”

When a loved one passes away while a care home still holds prepaid weeks, many families are told that the provider’s "policy" does not allow refunds. In one recent case, a family challenged this stance, discovered that the contract actually obligated the home to return the unused fees, and successfully secured a refund. The experience underscores a wider issue: care‑home operators often withhold money from bereaved families, banking on their grief and lack of legal knowledge. The author, forewarned by similar reports, enlisted a family lawyer who identified the contractual breach and drafted a decisive email that compelled the provider to comply. Importantly, the complaint was not about the quality of care. The writer notes a clear separation between the compassionate on‑site staff and the profit‑focused head office, suggesting that the latter may deliberately adopt a “no‑refund” stance as a revenue‑preserving tactic. Historically, the practice traces back to the privatisation of care homes under Margaret Thatcher. The original promise was that market competition would increase choice for residents while lowering public spending. In reality, the economics of private care demand near‑full occupancy to stay profitable, forcing operators to raise prices when referrals dip. This creates a paradox: the need for vacant beds to offer choice clashes with the profit motive to maximise occupancy, ultimately undermining the policy’s goals. For families navigating this landscape, the lesson is clear: scrutinise contracts and seek legal advice before accepting a provider’s blanket “no‑refund” policy. A vigilant approach can turn a potentially lost sum into a reclaimed right, and may pressure care‑home chains to rethink opaque refund practices.

For the first time, the Joseph Rowntree Charitable Trust (JRCT) is creating a dedicated reparations role, appointing Prof. Keon West—a Rhodes Scholar and author of The Science of Racism—to lead the effort. West, who also serves as a visiting professor at the London School of Economics and heads research at the Runnymede Trust, will begin his tenure later this month. The appointment arrives amid intensifying global calls for former colonial powers to confront historic injustices. West’s mandate is to map how enslavement, indentured labour and European imperialism fed the supply chains of Rowntree’s iconic brands such as KitKat, Fruit Pastilles and Smarties. Founded in 1904 when philanthropist Joseph Rowntree endowed the trust with profits from his chocolate and cocoa ventures, JRCT operates on Quaker principles aimed at tackling the roots of inequality. Recent research, spurred by the Black Lives Matter movement, uncovered that African and Asian workers were exploited in Rowntree’s production lines throughout the 19th and 20th centuries. Historical investigations by the Rowntree Society revealed that, while the family never directly owned enslaved people, their businesses sold commodities produced by enslaved or unfree labour as far back as 1822. The company also benefitted from the indenture system, acquiring plantations in Dominica, Jamaica and Trinidad in the 1890s to grow cocoa, bananas and other crops. Further links to colonial exploitation include purchases of cocoa from Portuguese‑controlled São Tomé and Príncipe, as well as commercial interests in Nigeria, Ghana and apartheid‑era South Africa. In the early 1980s, Black workers at the South African subsidiary Wilson Rowntree faced harsh labour suppression. In 2021, JRCT issued a public apology, stating it was “deeply sorry” for its historical connections to “abhorrent practices” and acknowledging the lasting impact of these actions on systemic racism today. West will design a comprehensive reparations programme that engages directly with affected communities—“Black people, brown people and people of colour”—to develop long‑term restorative justice strategies. He said, "I am honoured to accept this role. It offers the power and the responsibility to make real, meaningful changes in the lives of those who have been exploited." JRCT chief executive Nicola Purdy expressed enthusiasm, noting that the reparations initiative aligns with the trust’s charitable purpose of promoting peace, equality, human rights and climate action. Financially, JRCT allocated £13.5 million in grants in 2025, supporting organisations that advance its core missions. In 2023, it contributed £10,000 to an all‑party parliamentary group advocating for a formal UK apology for slavery and colonisation. The Rowntree family, alongside fellow Quaker dynasties Fry and Cadbury, were central to the British confectionery trade during the colonial era. Their brand was later acquired by Nestlé in 1988, but the trust’s new reparations focus underscores a broader reckoning with the historical foundations of the industry.

Russia's Federal Security Service (FSB) has ordered a British diplomat to leave the country within two weeks, alleging economic espionage activities. The UK has strongly rejected these claims, labeling them as 'completely unacceptable' and an attempt at intimidation.The FSB claims that Albertus Gerhardus Janse van Rensburg, the second secretary at the British Embassy in Moscow, was involved in intelligence and subversive activities that threaten Russia's security. According to the FSB, the diplomat attempted to obtain sensitive information during informal meetings with Russian experts in economics.The Russian Ministry of Foreign Affairs has delivered a protest to Britain's charge d'affaires over the alleged spy. In response, the British Foreign Office stated that it would not tolerate intimidation of its embassy staff or their families.This development highlights the escalating tensions between Russia and the UK, particularly in the context of Russia's ongoing conflict with Ukraine. The UK supports Ukraine with financial and military aid, viewing Russia as its primary immediate threat due to alleged cyberattacks, killings, and sabotage campaigns.Since Russia's full-scale invasion of Ukraine in February 2022, Russian authorities have sought to suppress opposition to the war while rallying support among Russian citizens. This latest diplomatic expulsion underscores the deteriorating relations between Russia and Western nations.

The conflict between the US, Israel, and Iran has entered its fourth week, with the Strait of Hormuz remaining effectively closed. This has led to a broadening of the global energy crisis, with the economic outlook darkening across Asia, Europe, and beyond.Japan has responded by releasing 80 million barrels of oil from its national reserves, enough to last for 45 days. The country's reliance on Middle Eastern crude oil imports stands at 90 percent.The Organisation for Economic Co-operation and Development (OECD) has warned that the conflict will have a significant impact on the UK economy, predicting inflation of 4 percent this year. UK Foreign Secretary Yvette Cooper has stated that Iran cannot be allowed to hold the global economy hostage.The uncertainty surrounding Trump's policy on Iran has led to the emergence of the TACO trade, an acronym that stands for Trump Always Chickens Out. This phenomenon refers to investors betting that the US president will back down from his threats, resulting in profits for those who bought in.Observers note that Trump's inconsistent messaging has created an opportunity for investors to bet on his policy reversals. For example, Trump extended his deadline for Iran to reopen the Strait of Hormuz from 48 hours to five days, and later promised to hold off from attacks on Iran's energy facilities for an additional 10 days. This type of about-face has opened the door to investors willing to bet that the US president will back down.Lena Komileva, chief economist at consultancy firm (g+)economics, notes that global markets have been less inclined to rebound after Trump's Iran-related policy reversals compared to similar shifts in response to his tariff policies. This is due to the complexity of the conflict and the unique objectives of the parties involved.

The notion of governments controlling prices has long been considered taboo in modern economics. However, with the resurgence of inflation and its far-reaching consequences, this stance is beginning to shift. Politicians are now exploring the possibility of intervening in the market to regulate prices, a move that would have been deemed unthinkable just a few decades ago.The Austrian economist Friedrich Hayek had argued that governments lacked the necessary information to make informed decisions about prices, leading to inefficiencies in state-run economies. Nevertheless, as market economies have struggled to provide affordable essentials like energy and housing, interest in state-regulated prices has begun to grow.Examples from Mexico and Spain demonstrate the effectiveness of government intervention in controlling prices. In Mexico, the left-wing president Andrés Manuel López Obrador and his successor Claudia Sheinbaum have capped the prices of essential goods, while in Spain, the centre-left government of Pedro Sánchez has implemented a national rent freeze and energy price cap.In the UK, Zack Polanski of the Green party has advocated for a wider price reset, while Andy Burnham, a possible Labour leadership candidate, has also called for more state involvement in the economy to reduce prices. Burnham's experiences as mayor of Greater Manchester, where he has brought buses back under public control, have informed his arguments.The pressure for the UK to adopt similar measures is mounting, with a majority of British voters supporting nationalizations to get prices under control. As inflation continues to rise, it remains to be seen whether the UK government will follow the example of countries like Spain and Mexico.

Epic Games, the developer of the popular video game Fortnite, has announced that it will be laying off more than 1,000 employees. This move comes despite the company's significant revenue, with Fortnite generating around $4 billion a year and Epic Games estimated to have made $6 billion in revenue in 2025.The layoffs were announced by CEO Tim Sweeney in a note posted online, where he attributed the decision to a downturn in Fortnite engagement that started in 2025, resulting in the company spending more than it's making. Sweeney also cited industry-wide challenges, including slower growth, weaker spending, and tougher cost economics.Epic Games has been facing significant costs, including expensive legal actions against Google and Apple. The company's decision to lay off staff has raised questions about the sustainability of the live service game model, which has been adopted by many major publishers.The video game industry has been experiencing a period of turmoil, with many publishers struggling to maintain growth and profitability. The layoffs at Epic Games are a stark reminder of the challenges facing the industry, and the need for companies to adapt to changing market conditions.Analysts have noted that most live service games have peaked, but major publishers are still investing heavily in this area. The layoffs at Epic Games may be a sign of a broader shift in the industry, as companies re-evaluate their strategies and priorities.

Leonid Radvinsky, the owner of the adult content platform OnlyFans, has passed away at the age of 43 after a prolonged battle with cancer. The company announced his death on Monday, stating that he passed away peacefully.Radvinsky, a Ukrainian-American billionaire, had a net worth of about $3.8 billion as of May 2025. He acquired OnlyFans' parent company, Fenix International Limited, in 2018 and served as the company's director and majority shareholder. Born in Odesa, he grew up in Chicago and studied economics at Northwestern University.According to reports, Radvinsky began running pornography sites as a teenager. OnlyFans, founded in 2016, is best known for allowing adult film actors and sex workers to monetize their content through a subscription-based model. The company typically takes a 20% cut of payments, leaving creators with 80% of the revenue.In recent months, Radvinsky had been in talks to sell a 60% stake in OnlyFans in a deal that would have valued the company at around $8 billion. He had moved his ownership to a trust in 2024. OnlyFans has faced controversy, including a 2024 Reuters investigation that reported on women who claimed to have been sexually enslaved to make money from the site.Despite efforts to expand beyond sexually explicit content, pornographic material remains OnlyFans' best-known product. The platform has been used by various creators, including Olympians and teachers, who have turned to the site as a way to supplement their income.

The WNBA has made history with its new collective bargaining agreement, a seven-year deal that includes a salary cap increase to $7m, maximum salaries approaching $1.4m, and 20% revenue sharing. This landmark agreement is a major step forward for female athletes, who have long faced unequal pay and respect in the sports industry.Jemele Hill, a sports commentator, emphasized that women in sports have had to fight for dignity and respect since the beginning. The previous agreement left WNBA players with only 9% of league revenue, compared to 49-51% for NBA players, 62% for NFL players, and 50% for NHL players. This disparity is a stark reminder of the gender pay gap that persists across industries.The new deal is not just about numbers; it's about changing the narrative for female athletes. As a 'Girl Dad,' the author spoke with his daughters, who play volleyball, about the implications of this agreement. They shared their own experiences with unequal treatment in sports, from being forced to practice outside while boys used the gym to receiving old uniforms.The WNBA players' fight for fair pay and respect sends a powerful message to young girls everywhere. As the author's daughter noted, seeing WNBA players demand fair pay reminds her that she must stand up for her worth and not let society undervalue her. This moment matters, as it shows that solidarity and advocacy can lead to significant change.The causes of the gender pay gap are structural, rooted in unequal opportunities and norms that shape women's careers. However, the WNBA's new deal offers hope for a more equitable future. It's a reminder that fair pay is not just a matter of economics, but also of respect and dignity for female athletes.