Wizz Air issues profits warning due to Middle East crisis; China ‘tells refiners to halt diesel and gasoline exports’ – business live

The travel disruption, the higher oil price and the fall in the euro caused by the Iran war has prompted low-cost airline Wizz Air to issue a profits warning.Wizz Air warned investors last night that it believes the current crisis in the Middle East will wipe €50m off its profits this financial years.Wizz had previously predicted that earnings would fall within a profit of €25m to a loss of €25m, so today’s warning means it expects a loss for the year.The company told the City:double quotation markIn terms of the expected impact, approximately one third is a result of the cessation of certain scheduled services to the Middle East, with the remainder from the adverse movement in macroeconomic factors as a result of the Iran conflict.Our assessment of the impact of these macroeconomic factors is based on jet fuel and US$/€ rates as of today, and assumes that these rates will remain at current levels for rest of Fiscal Year 2026

Australian petrol retailers accused of price gouging over rising fuel costs amid Iran war

Sydney motorists are paying up to 25 cents more for a litre of petrol now than they were before the start of the US-Israel war on Iran, as motoring groups accuse retailers of using the conflict as an excuse to gouge their customers.After Jim Chalmers instructed the Australian Competition and Consumer Commission to keep an eye out for profiteering behaviour, a spokesperson for the watchdog said it had “observed average retail regular unleaded petrol prices in several cities moving higher over the last few days”.Motoring groups NRMA and RACQ have already accused retailers of price gouging, amid reports of long queues at some service stations as motorists rush to fill up before the surge in global crude oil prices feeds through to the bowser.It comes as Australians face the prospect of another interest rate hike, with Reserve Bank governor Michelle bullock warning there was a “live” chance of an increase this month as the global oil price spike adds to already high inflation.The roughly 15% jump in global oil prices since the start of the US-Israeli missile strikes should take seven to 10 days to begin to be reflected in the cost of fuel at Australian service stations, according to industry estimates

Google Pixel 10a review: cheaper Android is great, but no real advance

The latest smartphone in the lower-cost A-series Pixel line shows what makes Google phones so good, while undercutting the competition on price. The problem is that it differs little from its predecessor, which is still on sale.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more

Sam Altman admits OpenAI can’t control Pentagon’s use of AI

OpenAI’s CEO, Sam Altman, told employees on Tuesday that his company does not control how the Pentagon uses their artificial intelligence products in military operations. Altman’s claims on OpenAI’s lack of input come amid increased scrutiny of how the military uses AI in war and ethics concerns from AI workers over how their technology will be deployed. “You do not get to make operational decisions,” Altman told employees, according to reports by Bloomberg and CNBC.“So maybe you think the Iran strike was good and the Venezuela invasion was bad. You don’t get to weigh in on that,” Altman reportedly said

Oscar Piastri is hungry for Formula One title but won’t be rebellious

Closer than ever to a driver title, or never again as close? Oscar Piastri will soon find out his foreseeable future in Formula One. But he says there’s one thing he won’t do: rebel against McLaren team orders.The glitzy, globetrotting series is back and Melbourne offers a tantalising round of racing to start the season. Extensive changes to regulations have left each team grappling with new electric-boosted power units, and smaller, nimbler vehicles.For Piastri, the changes come at an unfortunate time, given the dominance of the McLaren in recent years

Aston Martin reveal fears over nerve damage will prevent F1 team from finishing Australian GP

Aston Martin have admitted that Fernando Alonso and Lance Stroll will not be able to complete even half race distance at the season-opening Australian Grand Prix this weekend for fear of suffering permanent nerve damage because of a vibration problem with their car.The team principal Adrian Newey, who also designed the team’s new car, revealed on Thursday in the Melbourne paddock that both drivers were suffering such severe vibration through the steering wheel that they would only be able to complete 25 and 15 laps respectively.“That vibration into the chassis is causing a few reliability problems, mirrors falling off, tail lights falling off, all that sort of thing, which we are having to address,” he said.“But the much more significant problem with that, is that vibration is transmitted ultimately into the driver’s fingers. Fernando is of the feeling that he can’t do more than 25 laps consecutively before he will risk permanent nerve damage into his hands