BP’s chair deserved a kick for his silly obstinacy over shareholder resolution

BP has fresh faces in the boardroom and a rigged strategy: it’s pivoting back to oil and gas and away from its low-carbon assets in an attempt to improve a weak share price. One can agree or disagree with the approach. But it was a silly act of overreach for a newish chair to try to stifle debate on such matters.That, in effect, was what Albert Manifold did when he excluded a resolution for Thursday’s annual meeting from Follow This, a Dutch investor group. The proposal itself cannot be described as explosive

Lockheed Martin CEO sees Trump’s Pentagon as ‘golden opportunity’ for growth

Lockheed Martin’s CEO has called the Trump administration a “golden opportunity” for the company as it expands its contracting work for the federal government amid the conflict in the Middle East.In an earnings call on Thursday covering the first quarter of 2026, Lockheed Martin CEO Jim Taiclet told investors that the company is well positioned “based on more available resources for us”.“This is a golden opportunity right now based on who’s in government,” Taiclet said, citing “their experience, their willingness to change, the demand that they have for what we do and what our partners in our industry do”.He added that the company could move past the “burden” that came with government contracting and move it “towards a commercial contracting system”.“I’m encouraged by all of this in the evolving landscape,” Taiclet said

Iran war hurting UK economy as consumer confidence falls; BP’s new chair suffers investor revolt – as it happened

Breaking: UK consumer confidence has fallen for the third month in a row, as people grow more nervous about their personal financial situation and the economy.Data provider GfK’s Consumer Confidence Barometer, just released, has fallen by four points to -25 in April, the biggest drop in a year.That’s the lowest level since autumn 2023, indicating that the disruption and high energy prices caused by the Iran war is alarming consumers.When asked about the UK economy, the measure for the country’s general economic situation over the last 12 months decreased by eight points to -51. Expectations for the general economic situation over the coming 12 months fell by six points to -43, GfK reports

Simon Edye obituary

My friend and one-time employer Simon Edye, who has died aged 73, ran the popular Ronaldo Ices in Norwich for more than 40 years, starting with one homemade, hand-hauled Victorian-style barrow and going on to supply shops, restaurants, theatres and visitor attractions throughout East Anglia.Born in Sidlesham, West Sussex, to John Edye, a journal editor, and Alison (nee Allan), a teacher, Simon was the eldest of three brothers. He went to Chichester high school for boys, then in 1970 started a social sciences degree at the University of East Anglia, but dropped out, settled in Norwich and tried his hand at various jobs: fruit and veg picker and ganger, acupuncturist, taxi driver and bicycle repairman, for which a friend painted the humorous sign “Honest Ron Enterprises – Bicycle Repairs”.With Simon’s brother, Jo, “Honest Ron’s” then went into the stir-fry business, with a stall at Stonehenge, Albion Fairs in East Anglia, and even the Epsom Derby. In 1983, Simon built his barrow and started selling ice cream on Norwich’s pedestrianised London Street

UK braces for price rises driven by Iran war as economic confidence plummets

Confidence in the UK economy has fallen sharply amid the mounting economic fallout from the Iran war, surveys show, as businesses prepare to raise their prices and consumers brace for a fresh cost of living shock.Highlighting the knock-on effect of the Middle East crisis in Britain, several closely watched surveys of business activity and consumer confidence blamed the US-Israeli war on Iran for a marked deterioration in the outlook in April.The latest barometer from the data company GfK showed UK consumer confidence slid in April to its lowest level since October 2023, while three separate business surveys revealed an increase in cost pressures facing companies and an expectation they would raise their prices over the coming months.Neil Bellamy, consumer insights director at GfK, said soaring fuel prices and the prospect of higher energy costs were a constant reminder to consumers of the inflationary shock from the war.“Consumers really do have the jitters now,” he said

American Airlines says soaring price of jet fuel will cost it $4bn this year

The soaring price of jet fuel will cost American Airlines another $4bn this year, the carrier has said, wiping out forecast profits.The airline, the world’s largest by passengers flown, said the fuel crisis from the US-Israel war on Iran could push it into losses during 2026, having forecast profits approaching $1.8bn before bombing started.The price of jet fuel has more than doubled since the conflict began at the end of February. While many European airlines have hedged their fuel, locking in a purchase price for months or years ahead, American carriers have been exposed to the price rises