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Oil prices retreat and global stocks hit record highs after Trump hails ‘great progress’ on Iran deal – business live

06/05/2026 08:59 The Guardian

US president pauses ‘Project Freedom’ to work on ‘final agreement’ with Tehran; stocks also ride high on AI euphoriaThe UK’s biggest gas supplier has angered campaigners by reporting a larger than expected surge in profits as households brace for a hike in energy bills this summer.The ongoing conflict in the Middle East helped Norway’s state-owned oil company, Equinor, to a profit of $9.77bn for the first quarter of this year, its highest quarterly earnings since 2023 when Russia’s invasion of Ukraine triggered a surge in gas market prices.Like BP last week, these are unearned windfall profits driven by Trump’s war with Iran.Equinor now wants to cash in even more by developing the Rosebank oil field, which would be a terrible deal for the UK. This government must put the needs of the British public – for affordable energy and a safe climate – ahead of this Norwegian oil giant’s relentless pursuit of profit. Continue reading...

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Middle East crisis live: Trump changes strait of Hormuz plan again as Rubio says US offensive is ‘over’

US president says he will briefly pause Project Freedom after just one dayTrump puts ‘Project Freedom’ on hold, saying he hopes to finalise deal with IranThe UK work and pensions secretary, Pat McFadden, has warned that job losses “could happen” in Britain due to the economic impacts of the...

06/05/2026 08:47 The Guardian
Polanski accuses Times of ‘scraping the barrel’ over his claim to be charity spokesperson – UK politics live

Green leader said he hosted fundraisers for the Red Cross but accepts he should not have described himself as a spokesperson for itZack Polanski defended the Green party’s proposal to legalise hard drugs in his Today programme interview. He stressed that the policy was “to legalise and regulate,...

06/05/2026 08:43 The Guardian
Man arrested over alleged offensive shirt outside royal commission venue – as it happened

This blog is now closed.Get our breaking news email, free app or daily news podcastFederal shadow treasurer says any handouts in budget could add to inflationThe federal shadow treasurer, Tim Wilson, has warned that potential cash handouts in next week’s federal budget could add to inflation.Unfor...

06/05/2026 08:11 The Guardian
Apps, activists and an ‘air war’: Essex campaign is test of Reform UK’s professionalisation

Nigel Farage’s party sees local elections as showcase for a sleeker approach borrowing from an unlikely sourceNigel Farage was midway through his walkabout of Waltham Abbey when a hunting horn loudly sounded on the Essex market town’s pedestrianised high street. “Oi oiii!” exclaimed the owne...

06/05/2026 06:00 The Guardian
Wednesday briefing: How Trump’s attempt to reopen to strait of Hormuz brought war closer again

In today’s newsletter: ​The brief US effort to ​s​teer trapped vessels through the ​waterway ​put the fragile ceasefire under strainGood morning. Uncertainty once again reigns in the Middle East. The uneasy ceasefire between the US and Iran threatened to disintegrate after Donald Trump l...

06/05/2026 05:47 The Guardian
Horrified Wagga residents call for proper sanitation at homeless camp where baby was found dead

Tent where twins were born up to a 15-minute walk away from nearest public toilets or running waterFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe tent where a newborn baby was found dead at Wagga beach at the weekend was part of a...

06/05/2026 05:11 The Guardian
Four in five Britons worried Iran war will make food more expensive, poll finds

Shoppers concerned about effect of Middle East conflict, as UK retailers say government running out of time to cut costsFour in five people are worried that the Iran war will make food more expensive, according to a new poll, as businesses warned the “window is closing” for ministers to cut ener...

06/05/2026 04:00 The Guardian
Primary elections: crucial showdowns set in Ohio; Indiana races yield ‘big night for Maga’ as Trump asserts control of party – as it happened

This live blog is now closed.Jon Husted and Sherrod Brown set for Senate showdown after Ohio primary victoriesTrump-backed Republicans win big in Indiana primaries in coup for presidentSign up for the Breaking News US emailDonald Trump has issued a fresh verbal attack against Pope Leo XIV, accusing...

06/05/2026 03:20 The Guardian
US petrol prices hit highest level in years – as it happened

This blog is now closed. Our full report is here: Trump puts ‘Project Freedom’ on hold, saying he hopes to finalise a deal with IranIran’s foreign minister, Abbas Araghchi, is travelling to Beijing later today for talks with his Chinese counterpart “on bilateral relations and regional and in...

06/05/2026 01:14 The Guardian
Reinstate windfall tax on banks after surge in profits, TUC urges

Unions group wants rate returned from 3% to 8% after big four UK lenders reveal £14bn total profit in first quarter An increased windfall tax should be imposed on the UK’s largest banks according to trade union leaders, after the big four lenders reported almost £14bn in first-quarter profits, p...

05/05/2026 23:01 The Guardian
US-Iran truce teeters on meltdown as stalemate takes toll on each side

Conflict appears to have reached impasse, but leaders in Tehran and Washington seem to think victory is nearThe month-old ceasefire between Iran and the US appeared to be in new peril on Tuesday with a fresh barrage of Iranian missiles reported to have targeted the United Arab Emirates as US naval f...

05/05/2026 22:04 The Guardian
Rubio insists US is ‘very fortunate’ as Iran war pushes gas price near $4.50

US secretary of state says US is better off than other countries hit by disruption in oil supplies‘A dollar or two increase is devastating’: US readers on toll of rising gas pricesMarco Rubio has argued the US is in a “very fortunate” position as fuel prices continue to climb nationwide amid...

05/05/2026 21:55 The Guardian
Trump accuses pope of ‘endangering a lot of Catholics’ with Iran stance

US president directs fresh criticism at pontiff days before secretary of state Marco Rubio’s visit to VaticanMiddle East crisis – live updatesDonald Trump has issued another verbal attack against Pope Leo, accusing the pontiff of “endangering a lot of Catholics” because “he thinks it’s f...

05/05/2026 20:34 The Guardian
MoD has no system to detect civilian deaths caused by military, study shows

Revelation comes after report commissioned by department released in response to charity’s FoI requestThe Ministry of Defence has no system for examining whether UK military action has killed or injured civilians in war, a study commissioned by the department has revealed.The MoD also “does not...

05/05/2026 18:47 The Guardian
US to take steps to curb antidepressant prescribing, RFK Jr says

Plan promotes ‘deprescribing’ as psychiatrists warn crisis stems from lack of access to care, not overuseThe federal health department will begin a series of steps intended to curb antidepressant use in the US, Robert F Kennedy Jr announced this week.Antidepressants, specifically selective serot...

05/05/2026 18:08 The Guardian
Stop plotting to oust Keir Starmer, ex-deputy Labour leader urges MPs

Tom Watson, who had role in attempted coup against Tony Blair in 2006, said move would go down extremely badly with votersLabour MPs have been urged to stop plotting to remove Keir Starmer by Tom Watson, who as a junior minister spearheaded the last attempted coup against a Labour prime minister, wh...

05/05/2026 18:03 The Guardian
Dark clouds, protests and resignations dampen start of 61st Venice Biennale

Russian pavilion to stay closed as outcry over Israel’s inclusion also grows – but nesting seagull provides some light reliefThe 61st Venice Biennale vernissage began on Tuesday under grey clouds and rain showers, as political tension, parties and protest dominated proceedings at one of the art...

05/05/2026 18:02 The Guardian
A veneer of normality has returned to Tehran but fears for the future are rife

From economic woes to concerns that war could break out again at any moment, underlying worries run deepIn the weeks since the fragile ceasefire with the US and Israel took hold, life in Tehran has – on the surface at least – largely returned to something like prewar normality. Many security che...

05/05/2026 17:29 The Guardian
Democrats urge Rubio to acknowledge Israel possesses nuclear weapons amid Iran war

Letter from House Democrats to secretary of state calls for end to ambiguity over Israel’s nuclear weapons programsHouse Democrats have asked the secretary of state, Marco Rubio, to publicly announce that Israel possesses nuclear weapons, arguing that Washington must end decades of ambiguity over...

05/05/2026 17:11 The Guardian
Zelenskyy condemns Russian ‘cynicism’ over parade truce as 23 killed in attacks

Kyiv berates Moscow’s request for ceasefire while launching ‘missile and drone strikes every single day leading up to it’Volodymyr Zelenskyy has accused the Kremlin of “utter cynicism” for seeking a truce so it can stage a military parade in Moscow as 23 people were killed in attacks on Uk...

05/05/2026 16:49 The Guardian
Political row as report calls for sweeping cuts to French public broadcasting

Inquiry set up by rightwing politician recommends merging major channels and slashing TV entertainment budgets by 75%French politicians on the left and centre have criticised a parliament inquiry report that recommends sweeping cuts to public broadcasting, with a row over culture wars building befor...

05/05/2026 16:44 The Guardian
Moscow shuts down airports and mobile signals as Victory Day parade looms

Kremlin tightens security before Russia’s biggest national celebration on 9 May amid fears of Ukrainian drone strikesRussia shut down airports and temporarily cut mobile internet access for many users in Moscow on Tuesday, as it tightened security before the 9 May Victory Day parade marking the de...

05/05/2026 16:29 The Guardian
Carney appoints former war crimes prosecutor as Canada governor general

Louise Arbour will serve as Canada’s representative of King Charles and carry out ceremonial and constitutional dutiesCanada’s prime minister, Mark Carney, has appointed a former supreme court justice and war crimes prosecutor as the country’s new governor general, saying her appointment would...

05/05/2026 16:23 The Guardian
‘With calm, we will get through this’: Romanian president speaks out after government collapses – as it happened

No confidence vote today say PM ousted and puts the country’s access to EU funds at risk in BucharestPresident Dan is set to issue a statement at 6pm local time (4pm UK). Continue reading...

05/05/2026 16:08 The Guardian
NI police handling of Katie Simpson case ‘reflected institutional misogyny’

Review finds force missed clear signs 21-year-old’s death was result of violent predator’s grooming and degradation A catalogue of police failures in handling the suspected murder of a young woman in Northern Ireland reflected institutional misogyny, a report has found.The Police Service of Nort...

05/05/2026 15:22 The Guardian
‘Not a good look’: witnesses refuse to appear before NSW parliamentary hearings after court ruling

Chris Minns’ chief of staff launched legal action to avoid giving evidence. Since the court ruled in his favour, others are doing the sameFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastWitnesses are refusing to appear before New Sou...

05/05/2026 15:00 The Guardian
Philip Morris uses secret Senate hearing to warn that illegal tobacco in Australia could wipe out legal trade by 2030

Exclusive: Company pushes for lower excise and claims threats warrant secrecy, while critics say it has ‘no interest in public health or safety’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe tobacco giant Philip Morris told a...

05/05/2026 15:00 The Guardian
UK homebuyers face worst mortgage affordability since 2008, data shows

‘Least affordable’ areas mainly in London commuter belt, UK Finance finds, with Iran war not yet reflected in dataBusiness live – latest updatesUK homebuyers are facing the worst mortgage affordability pressures for almost two decades, although the “pain” is not being felt equally across t...

05/05/2026 14:58 The Guardian
Rubble from Trump ballroom dumped at DC golf course has toxic metals, data shows

A federal judge also warned White House to tread carefully as it moves ahead with plans to revamp DC golf courseA federal judge weighed into a dispute over Donald Trump’s controversial plans to revamp a historic Washington DC golf course on Monday, warning the president’s administration to tread...

05/05/2026 14:53 The Guardian
Rachel Reeves and Scott Bessent argued in person about Iran war, sources say

UK chancellor said to have told US treasury secretary she did not like his tone during meeting in Washington in AprilUK politics live – latest updatesMiddle East crisis – live updatesRachel Reeves had an angry exchange with her US counterpart, Scott Bessent, in Washington last month over the war...

05/05/2026 13:18 The Guardian
BREAKING NEWS
06/05 08:59 - Oil prices retreat and global stocks hit record highs after Trump hails ‘great progress’ on Iran deal – business live 06/05 08:47 - Middle East crisis live: Trump changes strait of Hormuz plan again as Rubio says US offensive is ‘over’ 06/05 08:43 - Next to hike prices by up to 8% outside Europe due to Iran war costs 06/05 08:43 - Polanski accuses Times of ‘scraping the barrel’ over his claim to be charity spokesperson – UK politics live 06/05 08:11 - Man arrested over alleged offensive shirt outside royal commission venue – as it happened 06/05 08:07 - 'Unconscionable to keep them on cruise ship’: WHOs Gostin warns against repeating COVID-era mistakes 06/05 07:43 - US greenlights bomb deal for Ukraine 06/05 07:25 - Iran war day 68: Trump talks about progress in talks; Rubio says war ‘over’ 06/05 07:25 - Iran war day 68: Trump talks about progress in talks; Rubio says war ‘over’ 06/05 07:04 - Airlines hike fares, cut millions of seats as Iran war drives up fuel costs 06/05 07:04 - Airlines hike fares, cut millions of seats as Iran war drives up fuel costs 06/05 06:20 - Late Night Cringes at Trump’s Chatter in Front of Children 06/05 06:00 - Apps, activists and an ‘air war’: Essex campaign is test of Reform UK’s professionalisation 06/05 05:51 - In Gaza, the simplest of weddings are barely affordable 06/05 05:51 - In Gaza, the simplest of weddings are barely affordable 06/05 05:47 - Wednesday briefing: How Trump’s attempt to reopen to strait of Hormuz brought war closer again 06/05 05:30 - Ukraine reports Russian drone, missile attacks after Kyiv-declared ceasefire begins 06/05 05:27 - Germany was never fully ‘denazified’ after WWII – Medvedev 06/05 05:11 - Horrified Wagga residents call for proper sanitation at homeless camp where baby was found dead 06/05 04:00 - Four in five Britons worried Iran war will make food more expensive, poll finds 06/05 03:35 - News24 | How child soldiers in Sudan become influencers on TikTok 06/05 03:33 - News24 | Hezbollah pays a heavy price for war with Israel, ‘pride and sovereignty’ at stake 06/05 03:20 - Primary elections: crucial showdowns set in Ohio; Indiana races yield ‘big night for Maga’ as Trump asserts control of party – as it happened 06/05 01:39 - China’s sanctions pushback marks a new phase in the oil war with Washington 06/05 01:21 - Trump and Rubio Insist Iran War Is Over, Even as Missiles Fly During Cease-Fire 06/05 01:14 - US petrol prices hit highest level in years – as it happened 06/05 00:43 - ‘Avatar’ Suit Focuses on Hot Topic in A.I. Age: A Character’s Face 06/05 00:31 - Vance Campaigns in Iowa as G.O.P. Fears Rise Ahead of Midterms 06/05 00:06 - Middle East war live: French firm says container ship was 'target of attack' in Strait of Hormuz 06/05 00:00 - Iran war live: Trump says Hormuz operation paused amid US, Tehran talks 06/05 00:00 - Iran war live: Trump says Hormuz operation paused amid US, Tehran talks 05/05 23:24 - Finding soldier Tom: Solving family mystery of WW2 Soviet prisoner of war 05/05 23:01 - Reinstate windfall tax on banks after surge in profits, TUC urges 05/05 22:39 - Rubio says US military completed offensive operations in Iran 05/05 22:27 - Deadly Russian Strikes Rip Into Ukrainian Cities 05/05 22:17 - Offensive stage of Iran war is over, US Secretary of State Rubio says 05/05 22:04 - US-Iran truce teeters on meltdown as stalemate takes toll on each side 05/05 21:55 - Rubio insists US is ‘very fortunate’ as Iran war pushes gas price near $4.50 05/05 21:42 - Trump Looks for a Silver Bullet to End the Iran War. There May Be None. 05/05 21:04 - Japanese PM Takaichi in push to revise pacifist constitution as regional tensions rise 05/05 20:50 - Lavrov and Rubio hold ‘constructive’ phone call – Moscow 05/05 20:34 - Trump accuses pope of ‘endangering a lot of Catholics’ with Iran stance 05/05 20:10 - Judge Refers Justice Dept. Lawyer for Possible Discipline, Calling Out ‘Lack of Candor’ 05/05 20:06 - From ‘subhumans’ to ‘orcs’: How Nazi race theory lives on in modern Russophobia 05/05 19:58 - EU, Armenia sign new partnership deals at first bilateral summit 05/05 19:47 - EU should prepare for dialogue with Russia – Helsinki 05/05 19:45 - Miscalculation over Strait of Hormuz could ‘bring an all-out war’ 05/05 19:45 - Miscalculation over Strait of Hormuz could ‘bring an all-out war’ 05/05 19:23 - Russian attacks kill more than 20 ahead of rival ceasefires proposed by Kyiv and Moscow 05/05 19:19 - Trump hard-pressed to get better Iran nuclear deal than Obama's 05/05 19:04 - Did you know the US and Israel helped create Iran’s nuclear project? Here’s the story 05/05 18:48 - Video: Trump says Iran should ‘wave the white flag’ 05/05 18:48 - Video: Trump says Iran should ‘wave the white flag’ 05/05 18:47 - MoD has no system to detect civilian deaths caused by military, study shows 05/05 18:33 - Romania’s pro-EU coalition collapse 'does not alter the country's foreign policy', analyst says 05/05 18:31 - Sick Iran Nobel winner Narges Mohammadi at risk of dying in custody, supporters warn 05/05 18:08 - US to take steps to curb antidepressant prescribing, RFK Jr says 05/05 18:03 - Stop plotting to oust Keir Starmer, ex-deputy Labour leader urges MPs 05/05 18:02 - Dark clouds, protests and resignations dampen start of 61st Venice Biennale 05/05 17:37 - Is the US-Iran War Restarting? 05/05 17:36 - UK convicts four Palestine Action activists over break-in at Israeli firm 05/05 17:36 - UK convicts four Palestine Action activists over break-in at Israeli firm 05/05 17:36 - AI driving modern slavery surge – report 05/05 17:29 - A veneer of normality has returned to Tehran but fears for the future are rife 05/05 17:11 - Democrats urge Rubio to acknowledge Israel possesses nuclear weapons amid Iran war 05/05 16:50 - Ukraine, Russia exchange drone strikes ahead of V-Day ‘ceasefire’ 05/05 16:50 - Ukraine, Russia exchange drone strikes ahead of V-Day ‘ceasefire’ 05/05 16:49 - Zelenskyy condemns Russian ‘cynicism’ over parade truce as 23 killed in attacks 05/05 16:44 - Political row as report calls for sweeping cuts to French public broadcasting 05/05 16:36 - With Free Vodka, and a Few Protests, Russia Returns to the Venice Biennale 05/05 16:31 - News24 | Rubio expects 'frank' meeting with Pope as Trump takes fresh potshots at Leo 05/05 16:29 - Moscow shuts down airports and mobile signals as Victory Day parade looms 05/05 16:23 - Carney appoints former war crimes prosecutor as Canada governor general 05/05 16:08 - US not ‘pulled into’ Iran war by Israel – Hegseth (VIDEO) 05/05 16:08 - ‘With calm, we will get through this’: Romanian president speaks out after government collapses – as it happened 05/05 16:07 - Putin ‘doesn’t care' about Russians or Ukrainians: ‘Pageantry and symbolism’ over civilian lives 05/05 15:44 - Gulf migrant workers face tough choices amid Mideast war 05/05 15:40 - Cruise passengers tell of life on board stranded ship after hantavirus outbreak 05/05 15:22 - NI police handling of Katie Simpson case ‘reflected institutional misogyny’ 05/05 15:00 - ‘Not a good look’: witnesses refuse to appear before NSW parliamentary hearings after court ruling 05/05 15:00 - Philip Morris uses secret Senate hearing to warn that illegal tobacco in Australia could wipe out legal trade by 2030 05/05 14:58 - UK homebuyers face worst mortgage affordability since 2008, data shows 05/05 14:53 - Rubble from Trump ballroom dumped at DC golf course has toxic metals, data shows 05/05 14:53 - The Federal Safety Net Isn’t Ready for Artificial Intelligence 05/05 14:52 - Several killed in Russian strikes on Ukraine ahead of rival ceasefires 05/05 14:46 - Ukraine's Zelensky slams Russian 'cynicism' ahead of separate truces 05/05 14:44 - UK seeks military contracts from EU’s €90 billion Ukraine ‘loan’ 05/05 14:28 - 'Chicken wars': France's highly political fast-food fight 05/05 14:27 - Global oil shortages to hit within weeks – Chevron CEO 05/05 14:22 - Why Europe’s car industry is at the centre of a new US trade war 05/05 14:22 - Why Europe’s car industry is at the centre of a new US trade war 05/05 13:57 - 31 Pieces For Anyone Who Wants To Upgrade The Workwear Section Of Their Wardrobe 05/05 13:33 - Russian Embassy announces Victory Day concert in Vienna 05/05 13:18 - Rachel Reeves and Scott Bessent argued in person about Iran war, sources say 05/05 13:00 - US, Iran, UAE trade Hormuz attack claims: What we know 05/05 13:00 - US, Iran, UAE trade Hormuz attack claims: What we know 05/05 12:57 - HSBC profits fall amid $400m fraud-related charge and Iran war 05/05 12:52 - The Venice Biennale and Its Many Flashpoints: An Explainer 05/05 12:52 - Macron backs Armenia’s pro-Europe PM as re-election campaign draws to close 05/05 12:40 - News24 | Russia ‘not serious’ about Ukraine truce, Zelensky announces ceasefire ‘to end the war’