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Economy Apr 06, 2026

US Defense Contractors and Oil Giants Rake in Record Profits as Iran Conflict Pushes Gas Prices Over $4

Five weeks into the US‑Israel war with Iran, soaring gas prices have lifted US crude to over $110 a…
Two weeks after the United States and Israel entered a direct conflict with Iran, the White House faced mounting criticism that the war would drive up fuel costs and anger voters. Former President Donald Trump attempted to calm concerns on Truth Social, noting that the United States is the world’s largest oil producer and that higher prices translate into higher revenues for American companies. Now, five weeks into the hostilities, the reality is becoming clear: defense contractors and oil companies are the primary beneficiaries of the escalating energy market. The Department of Defense announced that Boeing will partner with Lockheed Martin to triple U.S. production of missile seekers, a move that sent Lockheed Martin’s stock up 25% since the start of the year. The announcement also lifted Boeing’s share price, underscoring how wartime procurement is boosting aerospace valuations. At the same time, Iran’s continued blockade of the Strait of Hormuz—through which roughly one‑fifth of global oil and gas flows—has pushed U.S. crude from $65 to over $110 per barrel in just a month. Pump prices have mirrored this surge, breaking the $4‑a‑gallon barrier for the first time since 2022. Oil majors have responded with sharp stock gains; ExxonMobil, Shell and Chevron have each risen more than 20% year‑to‑date. According to market‑research firm Rystad Energy, U.S. oil producers stand to earn an additional $63 billion as barrels trade above $100. “Oil prices in March have been materially higher than anyone expected, delivering a windfall for the vast majority of U.S. energy companies,” said Leo Mariani, senior analyst at Roth Capital Partners. The last comparable price shock occurred in 2022 after Russia’s invasion of Ukraine, when U.S. gasoline peaked at $5 per gallon and inflation surged to 9%. That episode generated $916 billion in global oil‑and‑gas profits, with U.S. firms accounting for $281 billion. Chevron’s subsequent $75 billion stock‑buyback program—seven times its prior year’s amount—illustrates how quickly companies can translate price spikes into shareholder returns. Research by economists Gregor Semieniuk and Isabella Weber revealed that in 2022, 50% of oil‑company profits went to the top 1% of Americans, while the bottom half of the wealth distribution captured just 1% of those gains. Analysts warn that the current conflict could generate even larger windfalls because it has damaged actual production capacity in the Middle East, not merely reshuffled supply. “You’re benefiting a lot more from higher prices than you are from lost production,” Mariani noted, emphasizing the outsized profit potential. Even if hostilities cease, restoring pre‑conflict output in the region may take months, prolonging the supply crunch. As senior fellow Clay Seagle of the Center for Strategic and International Studies explains, the current situation differs from 2022: “Now we’re dealing with a much more severe supply event because the oil has been actually removed from the market.” Prolonged high prices could eventually curb demand, as consumers and businesses seek alternatives—a shift seen after the 1970s oil shocks when the U.S. moved away from oil‑generated electricity. Nonetheless, many sectors remain vulnerable: diesel, a key fuel for trucks and aircraft, has risen 40%, and airline stocks such as United and American have fallen more than 15% since the year began. Moreover, disruptions to liquefied natural gas (LNG) production threaten fertilizer supplies essential for agriculture. Semieniuk cautions that “we’re approaching the kinds of disruption levels we saw in 2022, and with that, the kinds of profits that we saw there. If this takes longer, it’s going to surpass that.”
#Lockheed Martin #Exxon Mobil #Chevron
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Video Apr 06, 2026

The Profitability of War: Exploring the Economics of Conflict

The article delves into the profitability of war versus peace, featuring insights from David Keen o…
The notion that war is more profitable than peace may seem counterintuitive, but it is a concept that has been explored by economists and political scientists. David Keen, a renowned expert in the field, sheds light on the complex relationship between conflict and economics. In a world where wars are often funded by governments and fueled by industries such as arms manufacturing, the financial stakes are high.Keen's work challenges the conventional wisdom that war is solely a destructive force. Instead, he argues that war can be a lucrative business for certain individuals and groups. The production and sale of weapons, for instance, can generate significant profits. Moreover, the reconstruction efforts that follow a conflict can also be a lucrative venture.However, the human cost of war cannot be overstated. The devastating impact on civilians, infrastructure, and the environment is well-documented. As such, the question remains as to whether the economic benefits of war outweigh the humanitarian costs.
#war #more #profitable
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Politics Apr 05, 2026

Gaza’s Christian minority endures a stark Easter as war‑driven genocide deepens shortages and displacement

Amid Israel’s ongoing war on Gaza, the enclave’s tiny Christian community—fewer than 1,000 strong—o…
Gaza City, Gaza – While Easter traditionally celebrates resurrection and renewal, Gaza’s dwindling Christian population spent the holiday in quiet reflection, confronting displacement, scarcity and the trauma of a conflict the United Nations has described as genocide. The enclave is home to fewer than 1,000 Christians, a community already small before the war that has suffered heavy casualties; more than 72,000 Palestinians have been killed since Israel’s offensive began on 7 October 2023. Inside the remaining churches, prayers and modest services carried profound meaning as families clung to hope for survival and peace. Yet basic necessities—electricity, water and food—remain in short supply, and even traditional Easter items such as eggs are virtually unavailable. Fouad Ayad, a bio‑energy trainer displaced from near al‑Rantisi Children’s Hospital, described searching the markets of Gaza City for eggs without success. “We decorate eggs for the children, and sometimes Muslim children visit us for colourful eggs,” he told Al Jazeera, highlighting the inter‑communal bonds that persist despite the siege. Shortages have also erased the customary communal lunch. “Meat is scarce and extremely expensive,” Ayad lamented, recalling how families once gathered to share meals, colour eggs and visit elderly neighbours of all faiths. The Church of the Holy Family, which Ayad once attended, has been struck multiple times. “Three of my relatives were killed in one attack, and another strike killed more than 20 Christians,” he recounted, illustrating the direct targeting of places of worship. Attendance at Easter services in Gaza’s sole Catholic church has dwindled as many believers have fled the Strip. Yet, as one worshipper put it, “We only performed the prayers, refusing to celebrate because of our martyrs,” affirming their resolve to remain rooted in the land despite the devastation. Israeli restrictions have prevented Christians from traveling to the Old City of East Jerusalem to attend the Holy Sepulchre for the past two years. Recent attempts by Cardinal Pierbattista Pizzaballa to enter the site were initially blocked, only to be reversed after international outcry. Elias al‑Jelda, a 60‑year‑old Orthodox council member, recounted sheltering in the Church of the Holy Family after his home was destroyed. “I lost friends, neighbours and relatives, many killed while staying close to their homes and faith,” he said, underscoring the personal toll of the conflict. Traditional Easter treats—coloured eggs, kahk, maamoul and Eidiya gifts—are largely absent this year. “There are no eggs anywhere in the Strip,” reported 74‑year‑old Amal al‑Masri, who recalled pre‑war celebrations filled with shared meals and festive sweets. Power outages compound the hardship. “Electricity continues to be a major problem, and the soaring cost of diesel and generator oil makes it worse,” al‑Jelda warned, highlighting the broader infrastructure collapse affecting all Gazans. Despite the bleak circumstances, the remaining Christians affirm their identity and solidarity with the broader Palestinian population. “No matter what your political agenda or religion is, all of us Palestinians are targeted by the occupation,” a worshipper declared, encapsulating the collective sense of victimhood and resilience.
#Gaza #Israel #Hamas
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Politics Apr 05, 2026

Repeated Strikes on Iran’s Bushehr Reactor Heighten Threat of Gulf‑wide Radioactive Disaster

Iran’s sole nuclear power plant, Bushehr, has suffered four attacks since the Israel‑US war began, …
Iran’s only operational nuclear power station, the Bushehr plant, has endured a series of assaults amid the escalating Israel‑United States campaign against Tehran, sparking alarm over a possible regional nuclear incident.The most recent strike on Saturday resulted in the death of a security guard and damage to an auxiliary building, according to the state‑run Atomic Energy Organisation of Iran (AEOI).Foreign Minister Abbas Araghchi asserted that the facility has been "bombed" four times since the conflict erupted on 28 February, accusing the United States and Israel of a "lack of concern" for nuclear safety.Security analysts stress that any bombing of the reactor or its spent‑fuel pools would unleash the radioactive isotope Caesium‑137, a contaminant capable of traveling far via wind and water, rendering soil, food and drinking supplies hazardous for decades and increasing cancer risks for exposed populations.The Bushehr complex, built by Russia and completed in 2011, supplies roughly 1,000 MW to Iran’s grid. It is the Middle East’s first nuclear plant and is slated to host two additional reactors by 2029, with hundreds of Russian technicians on site.The International Atomic Energy Agency (IAEA) has repeatedly warned that a direct hit could trigger a “regional catastrophe.” Director‑General Rafael Grossi told the UN Security Council that striking the plant could cause a "very high release of radioactivity" and, if power to the cooling system were cut, could lead to a reactor melt. He called for "maximum restraint," noting that evacuation zones could extend several hundred kilometres, requiring iodine prophylaxis and food‑supply restrictions.Beyond terrestrial fallout, experts highlight the danger of contaminating the Gulf’s shallow waters. Radioactive pollution would devastate marine ecosystems and cripple desalination plants, which lack the technology to filter such material. Qatar’s prime minister, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, warned that a simulated Bushehr attack would render the sea "entirely contaminated" and leave the country without water within three days.International law explicitly forbids targeting civilian nuclear installations. Article 56 of Protocol I to the Geneva Conventions bars attacks on "works and installations containing dangerous forces," and the IAEA’s own guidelines prohibit indiscriminate strikes on reactors, fuel storage, or power supplies.Araghchi also criticized the muted Western response, contrasting it with the outcry over Ukraine’s Zaporizhzhia plant, which prompted emergency UN sessions, NATO warnings, and statements from the EU, UK and US. In the Bushehr case, the EU has remained silent, while Russia, which maintains a sizable staff at the site, issued a condemnation of the attacks.Historical precedents such as the 2011 Fukushima disaster and the 1986 Chernobyl explosion illustrate the long‑term human and environmental toll of nuclear accidents, underscoring why the safety of Bushehr is viewed as a matter of regional, not merely national, security.
#Bushehr Nuclear Power Plant #IAEA #Caesium-137
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Business Apr 05, 2026

Waitrose Employee Sacked for Confronting Shoplifter, Highlights Retail Security Concerns

A 54-year-old Waitrose employee was sacked after confronting a shoplifter who had stolen Easter egg…
A Waitrose employee with 17 years of service was dismissed after stopping a shoplifter who had stolen a display of Lindt Gold Bunny Easter eggs worth £13 each. Walker Smith, a shop assistant at a Waitrose branch in Clapham Junction, south London, described his devastation after being sacked. He had been told not to approach shoplifters but felt compelled to act after seeing the repeat offender. The incident highlights the growing concern of shoplifting in retail, with 519,381 offences recorded in England and Wales in the year to September 2025, up 5% from the previous year. Smith's manager told him off and he apologized, but the matter was escalated, leading to his dismissal. He expressed regret over his actions and worries about his future, having recently moved into his own studio flat and being diagnosed with anxiety. Retail businesses, particularly supermarkets, have seen an increase in shoplifting, prompting calls for greater support and security measures. The chief executive of Marks & Spencer has urged the government and London's mayor to crack down on retail crime. A Waitrose spokesperson stated that the company takes the safety and security of customers and employees seriously, with policies in place to address these concerns.
#waitrose #his #shoplifter
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Environment Apr 04, 2026

Afghanistan Earthquake Claims Eight Lives in Single Family

A 5.8-magnitude earthquake struck Afghanistan, killing eight members of the same family in Kabul pr…
A devastating 5.8-magnitude earthquake hit Afghanistan on Friday, resulting in the tragic loss of eight lives from a single family in the Gosfand Dara area of Kabul province. The quake, which occurred at 8:42 pm local time (16:12 GMT), had its epicentre in the northeastern province of Badakhshan, approximately 290km (180 miles) northeast of Kabul.According to Health Ministry spokesman Sharafat Zaman, a two-year-old child was the sole survivor, sustaining injuries. The disaster management agency reported that the boy was hurt during the incident.The earthquake's impact was felt across multiple regions, including Kabul and the Indian capital, New Delhi. Tremors were also reported in Pakistan, including Islamabad, Peshawar, Chitral, Swat, and Shangla, with no immediate reports of damage or injuries.Afghanistan is prone to earthquakes due to its location along the Hindu Kush mountain range, near the junction of the Eurasian and Indian tectonic plates. On average, 560 people are killed by quakes in the country every year. The deadliest recent tremor occurred last August, when a shallow magnitude 6 earthquake in eastern Afghanistan killed at least 2,200 people.The country's impoverished infrastructure often hampers disaster response efforts, particularly in remote areas where homes are typically built with bricks, wood, and mud, making them vulnerable to seismic activity.
#Afghanistan #Kabul province #5.8 magnitude earthquake
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Us News Apr 04, 2026

Trump’s Unchecked Self‑Branding Blitz: Battleships, Institutes and Currency Bearing His Name

In his second term, Donald Trump has accelerated an unprecedented campaign to attach his name and l…
The United States has long honored past presidents by naming airports, dams and monuments after them, but President Donald Trump is pushing the practice to an extreme, seeking to become the most commemorated leader in American history. Less than a year and a half into his second term, Trump’s brand has proliferated across government buildings, federal agencies and even consumer platforms. In February, the administration unveiled TrumpRx, a prescription‑drug website that listed only 43 medications—most of which are available as cheaper generics elsewhere—yet proudly displayed the former president’s signature and logo. Just weeks later, the White House and the U.S. Navy announced a new "Trump class" of battleships, billed as the "largest ever built." A Pentagon release noted that the Navy has not used battleships in combat for 35 years, suggesting the project is more a vanity exercise than a strategic necessity. Federal institutions have not been spared. In December 2025 the U.S. Institute of Peace was renamed the "Donald J. Trump United States Institute of Peace," a move the White House framed as a reminder of "strong leadership" for global stability—just weeks before the administration launched a military strike on Iran. Trump’s influence extended to the arts when, in February 2025, he appointed a new board to the John F. Kennedy Center for the Performing Arts and installed himself as chair. The board voted in December to rename the venue the "Donald J. Trump and John F. Kennedy Center," a change that immediately faced a legal challenge. Republican lawmakers have largely embraced the naming spree. One congressman introduced legislation to carve Trump’s likeness onto Mount Rushmore, while another proposed naming a major airport after him, underscoring the party’s willingness to reward the president’s personal brand. Political scientist Steven Levitsky of Harvard warned that Trump operates "unconstrained" by advisers or party elders, noting that today’s Republican ambition often hinges on pleasing the president, including attaching his name to public projects. Visual propaganda has also surged. Giant banners bearing Trump’s image now hang from the Department of Justice and the Department of Labor buildings, a rarity for a sitting president and a practice more typical of authoritarian regimes, according to Princeton sociologist Kim L. Scheppele. Beyond buildings, the administration has pursued numismatic honors. A 24‑karat gold coin featuring Trump standing over a desk was approved by a hand‑picked arts commission, and drafts of a new $1 coin displayed an air‑brushed profile of the former president. The Treasury Department announced that Trump’s signature will appear on U.S. paper currency later this year, a move Treasury Secretary Scott Bessent described as a "powerful way to recognize historic achievements" of the nation. Critics argue that the public does not share the president’s enthusiasm. The 2026 National Parks Pass, which traditionally showcases natural scenery, sparked outrage when a draft featured Trump’s stern face with a spectral George Washington behind him. A cottage industry of stickers emerged to cover the image, forcing the National Park Service to warn that such alterations could void the pass. White House spokesperson Davis Ingle defended the branding, claiming it reflects Trump’s “vast accomplishments,” including the largest tax cut in history and border security measures. Yet scholars and opponents contend that the relentless self‑promotion blurs the line between public service and personal aggrandizement. As the branding campaign continues, legal challenges, public pushback, and questions about fiscal priorities suggest that Trump’s quest to name everything after himself may soon encounter more than just decorative resistance.
#trump #his #washington
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Sports Apr 04, 2026

Fatality and Dozens Injured in Peru Football Stadium Incident

A tragic incident occurred at the Alejandro Villanueva Stadium in Lima, Peru, resulting in one deat…
A devastating incident unfolded at the Alejandro Villanueva Stadium in Lima, Peru, on Friday, claiming the life of one person and injuring dozens more. The event, which was a 'flag-waving' gathering, took place a day before a highly anticipated derby match between Alianza Lima and Universitario de Deportes.The Peruvian health minister, Juan Carlos Velasco Guerrero, confirmed the death and reported that 47 people were injured, with three in critical condition. Initial reports suggested that parts of the stadium's wall had collapsed, but officials later clarified that there were no structural failures.Alianza Lima expressed condolences for the casualties and pledged to cooperate fully with authorities to investigate the incident. The club promised 'total transparency' in the investigation.The Peruvian professional soccer league announced that Saturday's match would proceed as planned, emphasizing its commitment to ensuring safe environments for spectators. The league will continue to work closely with clubs and authorities to promote safety and wellbeing at sporting events.The Alejandro Villanueva Stadium, also known as Matute, was built in the 1970s and has a capacity of over 33,900 seats. Despite limited modernization, the stadium remains a 'fairly basic ground,' according to The Stadium Guide.
#Alejandro Villanueva Stadium #Alianza Lima #Peru
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Politics Apr 03, 2026

Gaza Residents Rebuild Homes from Rubble Amidst Ongoing Conflict

Residents of Gaza are rebuilding their homes using rubble and makeshift materials due to Israeli re…
In the devastated streets of Gaza City's Tuffah neighborhood, residents are taking matters into their own hands to rebuild their homes. Mohammed al-Jadba, a 31-year-old father of 10, is using stones from the rubble of his destroyed house and mud to construct a new shelter. His home, once a four-storey building, was reduced to rubble during Israel's genocidal war on Gaza.With Israeli restrictions on imports preventing the entry of essential construction materials like cement, Gaza residents are forced to get creative. Mohammed has been collecting iron, window frames, and door frames from his old house to use in his new build. The mud, mixed with human hair collected from barbershops, is being used to stick everything together.The United Nations estimates that it will cost $70bn to fully reconstruct Gaza, with 92% of residential buildings damaged or destroyed. An urgent $20bn is needed within the first three years to initiate basic recovery and restore essential services. However, reconstruction efforts have been hindered by continued Israeli restrictions on the entry of construction materials and heavy machinery.As a result, Palestinians in Gaza have focused on partial reconstruction, using available materials to make damaged homes habitable. The United Nations Development Programme (UNDP) has worked on over 230 housing units, benefiting more than a thousand people. However, these interventions are temporary solutions, and the real solution remains elusive.Abdel Nasser al-Jalousi, a 55-year-old resident of Khan Younis, has benefited from partial rehabilitation projects. His heavily damaged home has been made habitable with tarpaulins used as substitutes for walls, doors, and room partitions. However, he stresses that these materials are not a long-term fix and will need to be replaced every season.The scale of the crisis remains severe, with over 213,000 families living in tents and widespread damage during winter storms. The situation highlights the need for political will and massive resources to rebuild Gaza and provide sustainable solutions for its residents.
#Gaza Strip #Israel Defense Forces #UNRWA
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