Harry’s, Camber Sands, East Sussex: ‘A startlingly good dinner’ – restaurant review | Grace Dent on restaurants
UK and G7 allies look at lowering ‘meaningless’ cap on Russian oil exports
The UK and its G7 allies are considering tightening the “meaningless” cap on Russian oil export prices after Donald Trump’s trade war caused global oil markets to crash.UK Treasury officials are understood to be looking at plans to lower the $60 (£46) a barrel cap Russianexports after the oil market plunged this week to $59.77 a barrel for the first time in more than four years.The G7 capped the price of Russian oil exports in late 2022 – when oil traded at well over $100 a barrel – to limit the oil revenues that Moscow could put towards its war efforts in Ukraine.But experts have said the plan was “currently meaningless” after a steep fall in the global oil markets
Worried about your stock market savings as Trump tariffs wreak havoc? Don’t panic
This week was enough to make anyone worried about their stock market savings. As a certified public accountant, I don’t give investment advice. But I’m comfortable leaving my money in the stock market. Why? Let’s put things into perspective.Many younger millennials and gen Z-ers may be panicking about recent falls in the market
BP dropped its green pledges and turned back to oil. Now the price of crude has collapsed
After Donald Trump’s “liberation day” on Wednesday last week, BP lost almost a quarter of its market value in a share price rout even deeper than the oil giant endured in the wake of the Deepwater Horizon disaster. The collapse in global oil prices in the wake of the US president’s tariff blitz may have wiped billions from its market value – but Trump isn’t BP’s only problem.The oil company will face shareholders this week for the first time since it bowed to investor pressure to abandon its green energy ambitions in favour of a return to fossil fuels, and its chair, Helge Lund, agreed to step down from the board.The twin retreats were considered the only defence against the advance of an aggressive activist investor fund that could spell the breakup of the 115-year-old company, which has been haemorrhaging value for years.Elliott Asset Management, a feared New York hedge fund notorious for shaking up laggard companies, amassed a substantial stake in BP earlier this year
Trump’s bullying must stop but the true costs of globalisation will remain | Richard Partington
Fundamentally wrong, brutal and paranoid. A preacher of voodoo economics, attacking the US’s allies and enemies alike. Condemnation of Donald Trump in the chaos since his “liberation day” has been swift.For most people the self-inflicted damage makes no sense, and rightly so.Far from making America great again, the president has made Washington an international pariah
After this, what more proof does Britain need that it cannot ‘cosy up’ to Trump? | William Keegan
Alas: that the infantile wrecker in the White House has “blinked” may be some relief; but the damage he is wreaking on his own country and the rest of us persists.Amid the chaos, conspiracy theories abound. Is Trump a “useful idiot” of even darker forces? What has Putin got on a president who succeeds a long line of (mostly) admirable predecessors, who saw Russian leaders as enemies with whom they had to coexist, not as friends?One conspiracy theory going the rounds is that “the tariffs are about manipulating share prices for him and his billionaire buddies to profit from fluctuations”. This theory was hardly dismissed out of hand when Trump stated “this is a great time to buy” after the stock market collapse.True or not, the collapse of the bond market last Wednesday was something else, and precipitated a panic that almost took the smirk off Trump’s face
Emergency law passed to force loss-making steel companies to keep operating
Emergency legislation allowing the government to instruct companies to keep loss-making steel operations in England open, or face criminal penalties for their executives, were passed yesterday during an extraordinary sitting of parliament.MPs and peers trooped into Westminster for a rare Saturday sitting after prime minister Keir Starmer and a small team of cabinet ministers decided on Friday morning that special powers were needed for the business secretary Jonathan Reynolds to prevent the imminent collapse of British Steel’s Scunthorpe steelworks, with the furnaces going out, and the loss of thousands of jobs.The recall of parliament from its Easter recess, only the sixth Saturday sitting since the second world war, was ordered after negotiations with British Steel’s Chinese owners, Jingye, appeared to break down.Opening Saturday’s debate, Reynolds said the government had been in talks with Jingye since it came to power last July and had offered “substantial” support. Most recently, Labour had offered to purchase the necessary raw materials for the blast furnaces, the last primary virgin steel-making facilities in the UK, but this had been met with a counter offer from Jingye demanding “an excessive amount” of support
From The Return to The Last of Us: a complete guide to this week’s entertainment
Almost a third of UK independent cinemas say they are at risk
Noel Clarke ‘precisely the man’ depicted in Guardian’s reporting, high court told
The Guardian view on William Morris: how the Strawberry Thief took over the world | Editorial
The Guide #186: Five rules to keep your podcast feed Marie Kondo tidy
Jimmy Kimmel: Trump’s ‘worst week of his presidency so far’