Oil shrugs off Trump’s latest Iran extension; UK consumers feel ‘ripple of fear’ from the conflict – business live

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Is the market losing its appetite for TACOs?Oil traders are shrugging off Donald Trump’s latest pause on striking Iran’s energy infrastructure, and are keeping crude prices at elevated levels today.Last night, Trump extended his deadline for Iran to open the strait of Hormuz by 10 days to 6 April, claiming talks are “going very well”. But with Iran denying it is “begging to make a deal”, as the US president claims, the delay isn’t bringing much cheer to energy markets.Brent crude oil did drop after Trump made his comments, but it has now risen back to $108

US markets see biggest slump since start of US-Israel war on Iran

US markets saw their biggest slump since the start of the US-Israel war with Iran on Thursday as Donald Trump said the conflict’s impact on oil prices had not been as bad as he expected.The Dow closed 450 points down, while the S&P 500 dipped 1.7%. The tech-heavy Nasdaq fell 2.3%, plunging into correction territory, which happens when an index falls at least 10% below its most recent peak

‘Accountability has arrived’: dual US court losses show shifting tide against Meta and co

In the span of just two days, the most powerful social media company in the world faced a more severe public reckoning than it has in years.Jurors in California and New Mexico gave back-to-back verdicts this week that for the first time ever found Meta liable for products that inflict harm on young people. For years, lawmakers, parents and advocates have raised red flags over how social media can hurt children, but now the tech firms are being held to account via court rulings that could set long-lasting precedents.A jury in New Mexico ordered Meta to pay $375m in damages on Tuesday over claims that its products led to child sexual exploitation, among other harms. The following day, a jury in California ordered Meta and YouTube to pay $6m over claims that both companies deliberately designed addictive products to hook young users

New York City hospitals drop Palantir as controversial AI firm expands in UK

New York City’s public hospital system announced that it would not be renewing its contract with Palantir as controversy mounts in the UK over the data analytics and AI firm’s government contract.The president of the US’ largest municipal public healthcare system, Dr Mitchell Katz, testified last week before the New York city council that the agreement with Palantir would expire in October.He said at the hearing that the contract, which focused on recovering money for insurance claims, was always meant to be short-term, and that there was an “absolute firewall” preventing Palantir from sharing information with US Immigration and Customs Enforcement. He said that the agency has “not had any incidents”.The contract and related payment documents shared with the Guardian by the American Friends Service Committee and first reported by the Intercept, show that NYC Health + Hospitals has paid Palantir nearly $4m since November 2023

Chess: iconic Reykjavik Open sparks memory of Bobby Fischer from 1973

The nine-round Reykjavik Open, which began on Wednesday afternoon at the Harpa Conference Centre and which continued with two rounds on Thursday, is an iconic event. It was first played as an all-play-all in 1964, when Mikhail Tal won, and is close to the Hotel Reykjavik Natura, formerly the Hotel Loftleidir, which featured prominently in the epic Bobby Fischer v Boris Spassky match of 1972.The top seed in the capacity entry of 422 players is Iran’s Amin Tabatabaei, the only 2700-rated player in the field, with Romania’s Bogdan-Daniel Deac (2655) next, and the veteran Ukrainian Vasyl Ivanchuk (2624) the fourth seed.England has a large contingent of more than 20, although most of them are low-rated amateurs. GM Matthew Wadsworth (2522) is the 21st seed, and GM Simon Williams (2443) the 39th, while WIM Bodhana Sivanandan, 11, is targeting her second WGM norm

Aryna Sabalenka sinks Rybakina to set up Miami Open final showdown with Gauff

Aryna Sabalenka believes she is ready for the challenge of facing her rival Coco Gauff in the Miami Open final as she stands one win away from winning Indian Wells and Miami in the same year for the first time in her career.“She’s a fighter,” Sabalenka said of Gauff. “She’s a great player, of course. We played a lot of matches, a lot of tight matches, a lot of big finals. And, yeah, she’s a great player and I’m really excited to face her in the final