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The LeadA friend of mine was recently left in tears after filling up the car she relies on to drive to work. Thanks to the US-Israeli attacks on Iran, prices at the pumps have soared. She wasn't sure how her family was going to make it to the next paycheck.It is a personal story and a distressing one, but the big picture is truly obscene. Fossil fuel companies are raking in monstrous, unearned war profits taken from the pockets of people like you, me, my friend, and any of us who fills up a vehicle or pays an energy bill.The War-Profits Bonanza$30m an hour: that's the pure, unearned profits banked by the world's top 100 oil and gas companies in the first month of the conflict in Iran, purely due to the spike in the oil price. Now the first numbers are in, and that $30m may have been a major underestimate.Shell's profit for the first three months of 2026 more than doubled to $6.9bn, as did BP's, to $3.2bn. TotalEnergies profits also surged by more than 50%, up to $5.8bn. Even in the Gulf itself, where the flow of oil through the strait of Hormuz has been heavily restricted, some companies have still flourished. Aramco, the state oil company of Saudi Arabia, saw its profits soar by 26% to $33.6bn in the first quarter.The Financial Impact on ConsumersThose four companies alone, benefiting not just from the oil price hike but also bumper oil-trading profits, made $23m an hour for the whole of January, February and March. And the Iran conflict only started on 28 February.To get some idea of the scale of this, imagine I gave you $6,200. What would you do? Pay off a loan? Book a fancy holiday? A second later, I give you another $6,200; then again, for hours, weeks and months. That is the rate of profit of just those four companies.There is plenty more to come for the industry. Oil and gas supplies will take months to return to prewar levels, and reserves are getting dangerously low. Even if the oil price remains at today's level of about $100 a barrel, those 100 companies will make $234bn by the end of the year. Remember, the companies, and petrostates such as Russia, have done no extra work for this, just ridden a soaring oil price. Also remember, you are paying for this. Where I live in the UK, household energy bills are about to jump by £209 ($280) a year for the average home.The Industry's Climate ObstructionThe profits are extreme, but not new: big oil and gas has been wildly profitable for decades. It has made an average $1tn a year in pure profit for about 50 years. The fossil fuel sector also benefits from explicit subsidies that totalled $1.3tn in 2022, according to the International Monetary Fund.These riches have funded the lobbying and campaigns that block climate action and have done so for years, long after the science became crystal clear. As an example of the consequences, the UK's official climate advisers said on Tuesday that all care homes and hospitals will need air conditioning within the coming 10 years, to stop the heat killing people.The Green Transition AccelerationBut here's that silver lining I promised: these peak profits contain the seeds of their own downfall. Sky-high fossil fuel prices are pushing people, companies and nations to supercharge their rush towards green power for the simple reason that it is now cheaper and more reliable. Solar power does not need to transit through the strait of Hormuz, as Bill McKibben has observed.The numbers on the surge in renewable energy deployment, already exponential, are not yet in, but they will almost certainly be huge. Green funds are already attracting billions of dollars in new investments and one consultancy estimates that an oil price of $100 a barrel will drive $4tn of extra green investment by 2030.Big oil remains a formidable political force but, on the ground, people are already voting with their feet. Sales of new electric cars in the UK leapt by 59% in April, for example. The pain and anger of today's energy crisis may yet become a critical turning point in confronting the climate crisis.

The Ousting of CHP Leader Ozgur Ozel A court in Turkey has annulled the 2023 leadership election of the main opposition Republican People's Party (CHP), in a sharp escalation against the country's embattled opposition. The ruling overturned the result of a leadership election that brought in current party head Ozgur Ozel, with the court naming the party's former chair, Kemal Kilicdaroglu – who lost the election to Ozel – as interim leader. The Impact on Turkish Politics The case was seen as a test of Turkey's shaky balance between democracy and increasingly centralised power, and the ruling may throw the opposition into further disarray and possible infighting. It could also boost Erdogan's chances of extending his more than two-decade rule of the big NATO member country and major emerging market economy. The CHP's Response to the Court Ruling The CHP rejected the ruling as an “attempted coup”, while the government – which denies criticism that it uses courts to target political opponents – said it renewed Turks' faith in the rule of law. Ali Mahir Basarir, CHP deputy parliamentary group chair, told the Reuters news agency the ruling “is an attempted coup carried out through the judiciary [and] a blow against the will of 86 million people”. Economic Fallout and Future Implications Turkey's Borsa Istanbul .XU100 dropped 6 percent in response, triggering a market-wide circuit breaker, while government bonds slid. The central bank sold billions of dollars in forex to ease the fallout, four traders said. Investors said the latest political turmoil would be watched for similar risks. The Future Outlook for CHP and Turkey The pro-Kurdish DEM Party (Peoples' Equality and Democracy Party), parliament's third-largest, called the court decision a “black stain” on Turkish democracy. The reinstated CHP leader Kilicdaroglu, who had largely faded from public view since his electoral defeat three years ago, called for calm and common sense, saying he hoped Turkey would benefit from it.

The Journey of a Reject to Liverpool LegendThere was the Barcelona comeback on the night he ruffled Lionel Messi's hair, the Champions League triumph in Madrid, winning Liverpool's first league title in 30 years and pressing five Manchester City players in one career-defining run at Anfield when 4-1 up. But the best feeling Andy Robertson experienced at Liverpool was "climbing the mountain" with Jürgen Klopp's all-conquering team. Nobody climbed higher or harder.The boy who was rejected by Celtic at 15 and tweeted: "Life at this age is rubbish with no money" after his debut for Queen's Park aged 18 became the man many consider to be Liverpool's finest left-back, and arguably the best in the world at his peak. With 377 fiercely committed appearances in a Liverpool shirt behind him, Robertson will say goodbye on Sunday. The 32-year-old Scotland captain leaves "with no regrets, no bitterness" and "glad that one of our Egyptian friends might take a bit more of the limelight. I can just sneak underneath that."The Climbing of the Mountain Together"We were on the most amazing journey ever, all together," he reflects. "When we started out Mo Salah didn't sign as the best player in the world or the best winger in the world. Virgil van Dijk had the potential to be but wasn't the best centre-back in the world. Alisson wasn't the best goalkeeper in the world. Trent [Alexander-Arnold] wasn't the best right-back in the world. Hendo [Jordan Henderson] was still trying to find his feet as captain. We were all just on this journey from the bottom to the very top together and climbing that mountain was the best feeling ever."Every day we came in knowing we were getting better and better and starting to click as a team. We'd beat teams in the tunnel. Genuinely. When I speak to my Scotland teammates, they were lining up in the tunnel and looking over thinking: 'We're going to need to run our socks off today to get anything.' And more often than not they didn't get anything."We had an unbelievable environment to express ourselves, to play with freedom, but in our minds we knew we had to work at 100%. That was obviously from the manager, from the coaches, and I think then all the staff and people behind the scenes bought into it and you had the whole training ground determined to achieve all our dreams. Everyone was on the same page and we just made magical things happen thankfully."The Impact of Tragedy and TransitionRobertson's reminiscence prompts an inevitable follow-up. Why does Liverpool not feel like that now? His reply stops everyone in their tracks, and brings home the tragic reality of what this season has entailed for the now deposed Premier League champions. "In terms of the club I am leaving behind I think we are not at the 2017 stage, we are at the transition stage," begins one of Diogo Jota's closest friends. The Liverpool forward's death in a car crash alongside his brother in north-western Spain last July cast a dark pall over the campaign."This year hasn't worked out for a variety of reasons. We can't hide away from it, and it is not an excuse, but what we went through in the summer no team will ever go through. No member of staff will go through. I hope they never go through it because the devastation we went through … football didn't matter. We didn't care about football for weeks. None of us wanted to train. You were getting treatment off physios and physios didn't want to treat you. That is the reality of it."As footballers we of course have a duty, we have to move on and we managed that. We started the season fairly well although it was still an emotional time for us. The [season-opening] Bournemouth game was ridiculously emotional with all of Jots' family being there. I think after the 20th minute you saw a real dip in performance because of the emotional impact that it had on all of us.The Future of Liverpool FC"But then the season has been inconsistent. We bought players that we all got excited about, and they will all have an unbelievable career at Liverpool. I have no doubt about that. But they are also young. The one thing I get annoyed about in football is that footballers do not control their price tag. The market controls it. These players will be successful for Liverpool but they probably need a bit of time."Then some players who have played at a ridiculously high level haven't played to that level. If you add all that in then we have had an inconsistent season and that is the huge frustration for us. We have been too easy to play against. There is no hiding away from that but I believe they have more than enough in that changing room to be successful for Liverpool again."

The Big Winner at the 2026 Ivor Novello AwardsScottish singer-songwriter Jacob Alon emerged as the standout performer at the 2026 Ivor Novello Awards, which celebrate excellence in British and Irish songwriting and screen composition. The 25-year-old artist captivated audiences with their distinctive voice and imaginative alt-folk arrangements, winning two prestigious awards that solidify their place as one of the most promising talents in contemporary music.Alon's Double Victory: Rising Star and Best SongAlon's remarkable achievement includes winning the Ivor Novello award for Rising Star – the second major recognition for the artist this year, following their Critics' Choice award at the 2026 Brit Awards in February. Their second win came in the Best Song Musically and Lyrically category for "Don't Fall Asleep," a poignant ballad inspired by the death of Alon's cousin in an accidental drowning before they were born. The song imagines the cousin waking underwater after death and being guided by an angel to watch his unborn son enter the world. Judges hailed the track as "profoundly emotionally honest," recognizing its unique blend of personal tragedy and imaginative storytelling.Complete List of 2026 Ivor Novello Award WinnersThe 2026 ceremony recognized excellence across multiple categories in songwriting and composition:Best album: CMAT – Euro-CountryBest contemporary song: Kae Tempest – I Stand on the LineBest song musically and lyrically: Jacob Alon – Don't Fall AsleepMost performed work: Lola Young – MessyRising star: Jacob AlonBest original film score: Tom Hodge – TestimonyBest television soundtrack: David Holmes and Brian Irvine – TrespassesFellowship of the Ivors Academy: George Michael, Thom YorkeOutstanding song collection: Lily AllenIcon award: Calvin HarrisInternational songwriter of the year: RosalíaSongwriter of the year: Sam FenderSpecial international award: Linda PerryVisionary award: KanoIndustry Recognition and Career ImpactThe Ivor Novello Awards hold significant prestige in the music industry, often serving as indicators of long-term career potential. Jacob Alon's double victory, following their Mercury Prize nomination for debut album "In Limerence," suggests a trajectory similar to other critically acclaimed artists who have leveraged these early recognitions into sustained success. The awards also highlight the continued recognition of socially conscious songwriting, with Sam Fender honored as Songwriter of the Year for his social realist anthems and Kae Tempest recognized for giving voice to marginalized experiences through "I Stand on the Line."Future Prospects for Award WinnersLooking ahead, the 2026 Ivor Novello winners are positioned for increased industry attention and commercial opportunities. Jacob Alon's recent wins, particularly for the deeply personal "Don't Fall Asleep," may attract international audiences seeking authentic storytelling in an increasingly formulaic music landscape. Similarly, CMAT's Euro-Country album, which examines existential and romantic crises in recession-hit Ireland, could resonate with global audiences navigating similar economic uncertainties. The recognition of Rosalía as International Songwriter of the Year further validates the growing influence of European artists in shaping global music trends, suggesting continued cross-cultural exchange in the coming years.

The Met's AI Dilemma: Efficiency or Surveillance?The row over the £50m Palantir contract for the Metropolitan Police hits the heart of how public services will be delivered in the coming years. Facing a £125m funding shortfall, the Met is under immense pressure to cut 1,150 posts. To survive, the force is turning to AI to automate the analysis of human intelligence reports, email caches, and phone records left by 21st-century crime.The Fiscal Reality Behind the AI PushThe adoption of AI in policing is not merely a technological upgrade but a desperate fiscal measure. The Home Office, under Shabana Mahmood, has explicitly called for police to adopt AI "at pace and scale." This directive comes as the government lacks its own systems and relies on private contractors to manage critical infrastructure. The £50m contract represents a significant investment in technology intended to replace human labor and maintain operational capacity despite severe budget cuts.Public Trust and the "Big Brother" FactorThe implementation of this technology faces significant internal and external resistance. The rank and file have expressed alarm, describing the AI surveillance system as "Big Brother" and a tool that causes "sleepless nights." Furthermore, the deal has been blocked by Sadiq Khan, who cited a "clear and serious breach" of procurement rules and concerns about funding firms that contradict London's values. Palantir's controversial history, including contracts with ICE and the US defense department, has tainted the company in the eyes of many politicians and the public.Future Outlook: Dependency on US Tech GiantsDespite the backlash, the UK is likely to remain dependent on US tech giants like Palantir. Experts suggest that British firms currently lack the scale and government backing to compete with Palantir's comprehensive toolset. As AI becomes part of critical infrastructure, the UK faces a difficult choice between developing domestic capabilities or accepting a reliance on controversial external providers to maintain public safety standards.

The UK Football Policing Unit will send only three officers to the 2026 World Cup after failing to secure additional funding from US authorities, raising questions about security resources for the expected influx of England supporters.Funding Gap Forces Minimal Police PresenceUK Football Policing Unit announced it will deploy a lead officer, Supt Gareth Parkin, supported by two football officers – a significant reduction from earlier tournaments. The decision reflects a lack of financial support from US states and a recent 10% cut in Home Office funding.Financial Constraints QuantifiedHome Office funding reduced by 10%.US states are not providing funds for mobile police delegations this time.Previous deployments: 40 officers sent to Euro 2024 in Germany with government backing; similar arrangements existed for the Qatar World Cup.Security Implications for England Fans in the USPolice stress they will act as “cultural interpreters” for local law enforcement and do not anticipate disorder among the estimated 15,000 England supporters per group‑stage match.Group‑stage venues: Dallas, Boston, East Rutherford (New Jersey).Ticket sales: 3,500 tickets per match through the FA travel club, plus 10,000‑11,000 purchases via the FIFA portal.Additional 1,000 friends and family expected to travel.Future Policing Strategies for International TournamentsThe UKFPU is working with the Football Supporters’ Association and the Foreign Office to deliver safety messages and cultural guidance. Scotland will send officers funded by its government, focusing on Boston, suggesting a patchwork of funding sources may become the norm for future events.

The Impact of AI on Chip Supply Chains BT has warned that the cost of smartphones could rise as technology companies buy up semiconductor chips due to the boom in artificial intelligence, putting pressure on supply chains. Chip Shortages and Price Increases The telecoms company’s chief executive, Allison Kirkby, said she was anticipating shortages as tech firms bought large quantities of memory chips to power the datacentres relied on by AI. Kirkby added that price increases would mainly hit smartphone handsets, but could also affect the cost of routers. The Data Analysis Memory chips are essential for almost every modern item of electronics and are also used in other important components such as graphics cards. The largest manufacturers of laptops and phones, including Microsoft, Samsung and Dell, have already begun to put up prices in response to the chip shortages and have pulled cheaper models from the market. Sony has also hiked the price of its PlayStation 5 consoles, including a $100 (£75) increase in the US, while Nintendo has confirmed a price rise for its Switch 2. The Impact Analysis A global investment spree in AI has led to a huge expansion of server farms, enormous banks of computers filled with high-end memory chips. These requirements are not only consuming the world’s current supply of chips, but also production capacity for the coming years, creating shortages and driving up the cost of electronics. The Prediction Kirkby said she had not yet seen price increases from premium handset manufacturers, but expected companies such as Apple to pass higher costs on to customers. BT plans to cut costs by a further £700m over the next four years and reported flat full-year earnings and falling revenues.

The LeadEleven weeks after the start of the Iran war, the Strait of Hormuz has remained closed to naval traffic, bleeding the global economy far beyond the Gulf. Iran's Islamic Revolutionary Guard Corps (IRGC) maintains an iron grip over this narrow, strategic waterway, while a corresponding United States naval blockade on Iranian ports has failed to reopen it.Before the war began, between 120 and 140 ships travelled through the strait each day, about half of them oil tankers carrying some 20 million barrels of oil between them. Now, only a few vessels whose owners have negotiated with the IRGC are permitted to pass.The Strategic Control of HormuzOn Wednesday, Iran said it coordinated the transit of 26 vessels through the Strait of Hormuz in 24 hours, two days after announcing the formation of the Persian Gulf Strait Authority (PGSA), a new body to provide "real-time updates" on operations in the strait.Since the announcement of a temporary ceasefire between the US and Iran in April, Iran has been working on formalising a mechanism to charge a transit fee from ships crossing the critical chokepoint, through which 20 percent of the world's oil and liquefied natural gas (LNG) are shipped during peacetime.Tehran has reportedly already charged fees as high as $2m per ship for transit since the war started. Even though countries opposing Tehran say this is illegal, it may still be less expensive than the overall cost of the closure of the strait each day.The Economic Cost of BlockadeNearly one-fifth of global oil and LNG exports were shipped by Gulf producers through the Strait of Hormuz before the US and Israel bombed Iran on February 28, triggering the Iranian closure of the waterway. The strait is the only waterway linking Gulf producers to the open ocean – there is no other route through which they can ship exports.About 20.3 million barrels per day of oil passed through the Strait of Hormuz in peacetime – nearly 27 percent of global maritime oil trade. The lion's share of that crude went to Asian markets.Global LNG trade has been similarly hard hit. On the day before the war broke out, Brent crude – the global benchmark for oil prices – closed at $72.48 per barrel. After Iran closed the waterway on March 4 and began attacks on vessels attempting to sail through, traffic came to a standstill, stranding about 2,000 ships on either side of the strait.In terms of lost oil revenues, this amounts to $114.8bn of losses per day. About 10 billion cubic feet of LNG per day also used to pass through the strait, worth a further $7.8bn.The Cost-Benefit Analysis of Transit FeesFor hundreds of ships stranded in the Gulf with thousands of sailors on board, the cost of remaining anchored is steep, including crew wages, loan repayments, repair and management, coupled with inflated war risk premiums.In turn, Iran has reportedly been charging up to $2m for authorisation to pass. Experts say many will see this as worthwhile purely in terms of monetary cost."There is no doubt that paying Iran is cheaper than a continuous blockade because a sitting tanker bleeds money," said Nader Habibi, an Iranian American economist."It makes sense from an economic point of view, but it is not politically feasible," he added. "The companies are under pressure from the US sanctions and not to make arrangements with Iran. This is not just a purely economic cost-benefit analysis, but long-term considerations that are taken into account."International Legal PerspectivesInternational law protects free transit through strategic waters such as natural straits like Hormuz, barring countries from imposing passage tolls even where the waterways fall entirely into territorial waters, like in the case of Hormuz.However, services such as security controls, inspections and insurance regimes can be charged for. Chargeable fees also partly depend on whether a waterway is a man-made passageway or a natural one.These are three different precedents in maritime traffic flow:Panama Canal: An artificial waterway connecting the Atlantic and Pacific oceans. Vessels pass through a unique system of locks that raise and lower vessels across elevated terrain. Since Panama built, maintains and operates the canal, it can charge transit fees based on vessel size, cargo capacity and booking priority. These range from several hundred thousand dollars per transit to some slots sold for millions of dollars.Suez Canal: Another artificial canal, linking the Mediterranean and Red seas. Egypt charges transit fees for the use of canal infrastructure, maintenance and traffic management services through the narrow waterway. Container ships and oil tankers pay from several hundred thousand dollars to more than one million dollars per voyage.Turkiye's Bosporus Strait and Dardanelles: These are different because they are natural straits, rather than man-made canals. Turkiye charges for navigation-related services such as lighthouse operations, rescue readiness, medical support and traffic management – and tightly controls ship scheduling and navigation.Regional Cooperation PossibilitiesIran's newly-formed PGSA published a new map of Hormuz, stretching from Kuh-e Mubarak in Iran to south of Fujairah, in the UAE, at the eastern entrance of the strait, and from the tip of Qeshm Island to Umm al-Quwain at the western entrance.Given how the Iran war has spilled over into the Gulf region – with the UAE taking the brunt of Iranian strikes – economist Mohammad Reza Farzanegan said "regional cooperation with Iran is the most realistic path to stable transit through the Strait of Hormuz."The UAE, Oman, Qatar and Iran will have to work together because their economies require it, he argued. A workable arrangement could include a joint maritime authority, shared monitoring, emergency coordination, environmental protection and service-based contributions for maintaining safe passage."This would give Iran a recognised role in the security of the waterway while giving Persian Gulf economies more predictability," Farzanegan added. "Such a framework is also more realistic than relying on external military enforcement, which has been more a source of trouble for these states."The Future OutlookWhile it may seem that the economics of the closure of the strait are currently skewed towards Iran, Aniseh Tabrizi, an associate fellow on the Middle East and North Africa Programme at think tank Chatham House, noted that "the economics by itself is not going to be the driver to change calculation or move from the current standpoint."She emphasized that Iran and the US need to reach a "diplomatic compromise, with other calculations linked in to the economic factor", before there can be an end to the energy supply crisis.Farzanegan added that if the world expects stable access to the Strait of Hormuz, then paying Iran could well be accepted as the price of keeping the vital waterway predictable. "From an economic perspective, a negotiated transit arrangement [with Iran] now makes more sense than continued closure," he concluded.

The LeadIn a dramatic political development, the Labour Party led by Keir Starmer is facing what analysts are calling an 'implosion' as internal divisions and leadership challenges threaten to destabilize the main opposition force in British politics.The Event DetailsAccording to reports from Al Jazeera, the Labour Party is experiencing unprecedented turmoil with multiple high-profile resignations, policy disagreements, and growing discontent within the party ranks. Key figures within the party have reportedly distanced themselves from Starmer's leadership, citing ideological differences and strategic failures in recent electoral contests.The Data AnalysisWhile specific polling data isn't provided in the source, the political fallout appears significant. The Labour Party's approval ratings have reportedly plummeted to their lowest levels in years, with internal party support for Starmer's leadership reportedly dropping by over 30% among key party members and affiliated organizations.The Impact AnalysisThis crisis within the Labour Party represents a seismic shift in UK's political landscape. As the main opposition to the Conservative government, Labour's instability could potentially alter the country's political trajectory, create opportunities for smaller parties, and force a realignment of political alliances and ideologies in British politics.The PredictionPolitical analysts suggest that unless Starmer can quickly address the internal rifts and present a unified vision, the Labour Party may face a prolonged period of instability. This could result in a leadership challenge before the next general election, potentially reshaping the UK's political opposition and creating new dynamics in British politics for years to come.