BP reports ‘horrifying’ jump in profits as Iran war boosts oil trading; Brent crude hits three-week high – business live

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The Iran war has helped BP to double its profits in the first quarter of this year, its latest financial results show.The oil major has just reported that it made a profit of nearly $3.2bn in the first three months of 2026, on its favoured ‘underlying replacement cost’ earnings measure.That’s higher than City analysts had predicted, with BP - which was hit by a shareholder rebellion last week – giving some of the credit to an “exceptional” contribution from its oil trading operations

Price rises in UK shops slow as retailers apply heavy discounts to lure shoppers

Price rises in UK shops have slowed as retailers applied “heavy discounting” to their goods in an effort to entice shoppers amid weakening consumer confidence, the industry’s trade group said.Shop price inflation rose by 1% year-on-year in April, a slowdown from 1.2% in March and below the three-month average of 1.1%, according to the British Retail Consortium (BRC).Retailers made discounts to clothing, furniture and DIY goods, the BRC said in its monthly survey of its members, compiled with NielsenIQ (NIQ)

MacBook Pro M5 review: serious power, still long battery life

Apple’s Macs have been on a roll this year with the brand new budget MacBook Neo and a faster MacBook Air M5, but now it’s time for its workhorse MacBook Pro to be upgraded with the fastest, most powerful M-series chips.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more.The latest MacBook Pro comes in two screen sizes and a large range of chip and configuration options

US supreme court hears whether smartphone location data warrants infringe users’ privacy

The US supreme court is considering whether sprawling warrants for smartphone location data infringe on Americans’ privacy rights and violate the constitution.Justices heard opening arguments in Chatrie v United States on Monday that concerned law enforcement’s reliance on so-called “geofence warrants” in difficult cases. The case was originally brought by Okello Chatrie, whose phone location data helped police in Richmond, Virginia, track him down after he robbed a bank at gunpoint and escaped with $195,000 in 2019. Chatrie pleaded guilty to armed robbery and was sentenced to 12 years in prison, but his lawyers argue none of the evidence against him should have been admissible in court.A lawyer for the US Department of Justice argued that nearly any actions taken in public while in possession of a smartphone afforded no expectation of privacy

Sabastian Sawe’s sub-two marathon feat is the Roger Bannister moment of our time | Sean Ingle

A few years ago at the London Marathon, organisers wheeled out an industrial-sized treadmill called the Tumbleator. Then they tempted curious onlookers with a simple question: can you keep up with Eliud Kipchoge? The answer was obvious. But that didn’t stop people trying. Most lasted a few seconds before comically flying off the back into crash mats.The Tumbleator has a fresh poster-boy now: Sabastian Sawe, who on Sunday claimed track and field’s last holy grail by running a sub two-hour marathon

Indigenous players back St Kilda coach Ross Lyon after comment deemed ‘casual racism’

St Kilda coach Ross Lyon has received the backing of his club’s chief executive after a group of Indigenous players – including star Nasiah Wanganeen-Milera – took offence following a comment made at training earlier this month.Lyon made the comment when three Indigenous players lined up together for a drill, saying, “I love the brother-boy connection, but we all have to remember, we are part of the bigger team here”.The players raised their concerns with the coach the following day and the matter was dealt with internally, but became public when journalist Caroline Wilson raised it on Channel Seven on Monday night.Lyon said he had misjudged the moment. “Was I being flippant? Could it be described as casual racism? I learned a lot out of what happened,” he told Wilson