John Lewis boss’s pay rises to £1.2m as retailer cuts 3,300 jobs

The boss of the group that owns John Lewis and Waitrose had his basic pay rate increased by 21% last year while the retailer cut 3,300 jobs.The annual salary of Jason Tarry, who became chair of the John Lewis Partnership (JLP) in September 2024, was increased to £1.2m for the year to January, from £990,000.He also received a £22,700 annual bonus – equivalent to 2% of his pay – and other benefits, taking his total package to almost £1.26m

Retail workers call for more security after Waitrose sacking for tackling shoplifter

Retail workers have called for more security guards in stores after a Waitrose worker was sacked for confronting a shoplifter.Waitrose has been criticised over its treatment of Walker Smith after the Guardian reported he was fired two days after he stopped a shoplifter taking items from an Easter egg display, including Lindt chocolate bunnies.Joanne Thomas, the general secretary of Usdaw, the shop workers’ union, said: “Usdaw supports a physical security presence in stores and we have ongoing conversations with employers about protection for retail workers on the frontline of the rise in retail crime.“The results of our 2025 annual survey show that 59% of members would welcome more security in stores because security guards provide reassurance, act as a deterrent and have specialist experience to deal with incidents.“While not as popular as a physical security presence, members also value other security measures such as improved CCTV, facial recognition technology, body-worn cameras and headsets that help to identify perpetrators, record incidents and link workers to a central control for support

Delta CEO braces flyers for higher fares amid surge in oil prices tied to Iran war

The CEO of Delta Air Lines, Ed Bastian, braced customers for higher fares following the surge in oil prices sparked by the US-Israel war on Iran, amid strong demand from passengers.Though rising oil prices have cost the company an extra $330m in fuel expenses, and it projected a $2bn increase in fuel costs in the current quarter, Delta forecast that revenue would grow 10% as flyers continue to book flights.It was a “healthy” time to travel, Bastian said on Wednesday.But as several carriers raise baggage fees, blaming volatility in the oil markets, Bastian hinted such moves could be permanent – increasing the cost of air travel. “At this level of fuel [pricing], it’s hard to call anything temporary,” he said

Is Australia headed for a recession? I hope not - but the RBA should be more worried | Greg Jericho

As I write this, I sigh and realise that despite the president of the United States dropping his threats to commit war crimes and destroy Iranian civilisation, he is always a chance to set the world on fire because it’s been more than 20 minutes since he had a Diet Coke.This, of course, is hyperbolic. I think.Economies are tough enough to predict without having to deal with the erratic actions of one man.So take all of that into consideration

Shell oil trading profits soar amid Iran war but Qatar strikes hit gas output

Shell is expected to report “significantly higher” profits from its trading desks in the first quarter of this year after weeks of market volatility triggered by the Iran crisis.The surge in energy commodity markets over recent weeks is expected to drive up trading results at Shell’s chemicals and products unit, which includes its main oil trading desk.The global oil price has climbed from about $61 a barrel in January to highs of $119 at the end of March, including some of the biggest daily price moves on record, owing to major disruptions to flows of oil and gas through the strait of Hormuz.The market volatility provides an opportunity for traders to make large profits, but also presents a risk of heavy losses.In addition to Shell’s oil trading windfall, it is also expected to report higher trading profits from its renewable energy division

Oil prices plunge 15% to below $100, stocks surge and dollar slumps after Trump announces US-Iran ceasefire – as it happened

Markets have been cheered by news of the two-week ceasefire between the US, Israel and Iran. However, this excludes Lebanon, where Israel has carried out its biggest wave of air strikes today since the war there began on 2 March.Iran has agreed to reopen the strait of Hormuz, where around 1,000 ships have been trapped. A senior Iranian official told Reuters Tehran could open the key shipping route on Thursday or Friday ahead of peace talks in Islamabad.Brent crude, the international oil benchmark, has tumbled 15