Doloresz Katanich
Business
EasyJet losses deepen as Iran war drives fuel costs higher
EasyJet reported wider first-half losses as the Iran war pushed up fuel costs and weakened demand. The airline warned of continued pressure from higher prices and softer summer bookings despite strong growth in its holidays business.
Markets
SpaceX IPO countdown to what could be the biggest ever listing
SpaceX plans a record-breaking IPO that could raise around $75 billion (€64.5bn) despite ongoing losses. The Elon Musk-led firm says funds will support Moon and Mars missions, while strong Starlink earnings contrast with losses in X and xAI.
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Economy
Oil stocks drain at record pace as IEA warns of renewed price swings
The International Energy Agency says the oil market is likely to remain in deficit until the final quarter of the year, as disruptions at the Strait of Hormuz continue to constrain supply, increasing the risk of renewed price volatility.
Business
Saudi Aramco profits jump 25% as Iran war drives oil prices higher
Saudi Aramco said Q1 profit rose 25% as the Iran war disrupted global oil supplies and pushed up prices. The company shifted some exports away from the Strait of Hormuz via its East-West Pipeline, which is now operating at full capacity.
Markets
Oil drops below $100 while markets rise as US and Iran near a deal
Brent crude has fallen below $100 a barrel while Asian markets reached new all-time highs and European stocks rose at the open on reports that the US and Iran are nearing a deal for the gradual reopening of the Strait of Hormuz.
Economy
US Fed leaves rates unchanged as Powell set to remain on board
A divided US Federal Reserve has held interest rates steady for a third consecutive meeting, as policymakers grapple with heightened uncertainty linked to the war in the Middle East. The decision is expected to be the last overseen by Chair Jerome Powell.
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