Oil prices drop sharply after Trump moves to reassure markets over Iran war

Oil prices have tumbled from four-year highs, capping an extraordinary 24 hours in global markets after Donald Trump suggested the US-Israel war on Iran could end “very soon”.Brent crude, the international benchmark, surged as high as $119.50 per barrel on Monday as the Middle East conflict intensified fears of a deepening energy supply crisis.Trump sought to play down this remarkable increase, claiming that oil prices had risen “probably less than I thought they’d go up”, while moving swiftly to reassure investors.Brent fell to $91

Why has the Iran war sparked fears of stagflation for the global economy?

Oil prices surged on Monday, triggering a stark sell-off across some of the world’s leading stock markets amid growing concern that the US-Israel war on Iran could set the stage for a global economic shock.While they fell back on Tuesday after Donald Trump suggested the Middle East conflict could end “very soon”, oil continues to trade at high levels.The war has caused an energy supply crisis that could risk driving up inflation and interest rates, according to economists, who believe growth is set to weaken while prices rise. Fears of stagflation – where economic activity stagnates, but inflation increases – loom large.Here’s what you need to know

X suspends 800m accounts in one year amid ‘massive’ scale of manipulation attempts

Elon Musk’s X said it had suspended 800m accounts over a 12-month period as it fights the “massive” scale of attempts to manipulate the platform.The social media company told MPs it was continually fighting state-backed attempts to hijack the agenda on its network, with Russia the most prolific state actor, followed by Iran and China.As part of the battle against such content, X suspended 800m accounts in 2024 for breaching its rules on platform manipulation and spam, although it did not reveal which of those suspensions related to foreign interference. X has approximately 300 million monthly users worldwide.Wifredo Fernández, a government affairs executive at the platform’s parent company, X Corp, said: “There are efforts every single day to create inauthentic networks of accounts

AI firm Anthropic sues US defense department over blacklisting

Anthropic filed two lawsuits against the Department of Defense on Monday, alleging that the government’s decision to label the artificial intelligence firm a “supply chain risk” was unlawful and violated its first amendment rights. The two sides have been locked in a monthslong heated feud over the company’s attempt to implement safeguards against the military’s potential use of its AI models for mass domestic surveillance or fully autonomous lethal weapons.The lawsuits, which Anthropic filed in the northern district court of California and the US court of appeals for the Washington DC Circuit, come after the Pentagon formally issued the supply chain risk designation last Thursday, the first time the blacklisting tool has been used against a US company. The AI firm previously vowed to challenge the designation and its demand that any company that does business with the government cut all ties with Anthropic, a serious threat to its business model.Anthropic’s lawsuit contends that the Trump administration is punishing the company for its refusal to comply with the ideological demands of the government, in a violation of its protected speech and an attempt to punish the company for not complying

NBA cancels Atlanta Hawks’ theme night with strip club Magic City after backlash

The NBA has called off the Atlanta Hawks’ plans for a night celebrating the city’s famed Magic City strip club, saying it did so because of “concerns” from many across the league. The Hawks announced the plan last month, saying the team would pay tribute to an “iconic cultural institution” with food – including the club’s famous lemon pepper wings – along with a live music performance by Atlanta native TI and exclusive merchandise.After the Hawks announced plans for the promotion, San Antonio Spurs center Luke Kornet spoke out about the idea and urged the parties involved to reconsider. And the league evidently heard the same messaging from others.“When we became aware of the Atlanta Hawks’ scheduled promotion, we reached out to Hawks leadership to better understand their plans and rationale,” Commissioner Adam Silver said in a statement

‘We believe in the plan’: England vow to double down on kick-heavy style against France

England have vowed to double down on their kick-heavy gameplan against France on Saturday despite their drastic decline in recent weeks. It is a move that risks further provoking the anger of their supporters.Steve Borthwick and his side have come under intense scrutiny after last week’s first defeat by Italy and the manner in which they stuck rigidly to their kicking strategy left fans irate. England have kicked the most times and for the most metres of all the Six Nations teams and while it was a tactic that paid dividends last autumn when they were on a 12-match winning run, it is no longer having the desired effect.The 2003 World Cup winner Matt Dawson has warned that relying too heavily on their kicking game in Paris would be a “red flag against England’s coaching ticket”