Author: Fatimah Idera

London shares plunged on Thursday, as investors avoided risky assets after U.S. President Donald Trump’s reciprocal tariffs amplified global trade war and recession worries. The blue-chip FTSE 100 touched a two-month low, closing down 1.6%, posting its largest daily drop since August 2024.The midcap FTSE 250 index fell 2.2%, hitting a one-year low. Recall, Trump’s new tariffs announced on Wednesday set a baseline of 10% for all imports and higher duties on some of the biggest trading partners of the U.S., crystallizing the global markets’ fears of economic stagflation. However, London said a trade deal with the U.S. is close,…

Chair Helge Lund intends to steping down from his role as BP chairman,with the UK processing to pick his successor, the energy group said on Friday amid a campaign by activist hedge fund Elliott for more change at the company. Lund informed the board of his intention to step down in due course which take effect in 2026. Lund had backed BP’s 2020 strategy under former CEO Bernard Looney to move away from oil and gas, including an ambition to cut its hydrocarbon output by 40% this decade. BP’s shares have been underperforming rivals such as Shell and Exxon. BP’s…

Britain approved the expansion of London’s Luton Airport giving the green light to the building of a new terminal which will allow passenger numbers at the capital’s fourth busiest hub to jump by almost 80%. Britain’s Labour government, elected last July, has put speeding up the planning process to deliver new energy and transport projects at the heart of its growth agenda, and has already backed expansion at London’s bigger Heathrow and Gatwick airports. Luton, located 35 miles north of London, plans to add a terminal building, expand existing buildings and build new taxi-ways, as it looks to grow annual…

Britain’s financial industry has made little progress in recruiting more women to top positions, a new report from the UK finance ministry , a pace of change the head of British insurer Aviva called “unacceptable”. Further progress may be harder as financial firms and other companies try to balance promises they have made with U.S. President Donald Trump’s drive to crack down on diversity and inclusion-related goals. Women working in finance held 36% of senior positions last year, up from 35% in 2023 and 34% in 2022. The slow progress was attributed to restructuring, low turnover in senior management and…

England’s men won the World Cup for the first and so far only time when the country hosted the finals in 1966. It has never staged the women’s tournament. “We are honoured to be the sole bidder for the FIFA women’s World Cup 2035,” FA CEO Mark Bullingham said in a statement. “Hosting the first FIFA World Cup since 1966 with our home nations partners will be very special. The hard work starts now, to put together the best possible bid by the end of the year.” The United States, with the possibility of other countries in the CONCACAF region…

Floods have struck the Greek tourist islands of Mykonos and Paros, turning roads into rivers and sweeping away cars. A state of emergency has been declared on both islands, with authorities telling residents to stay at home just as businesses were gearing up for the tourist season. Authorities on the islands of Paros and Mykonos in the Aegean Sea swung into action to clear overturned cars and debris after hail storms and torrential downpours on Tuesday. The severe storms that hit the Aegean also affected Crete and Rhodes, both popular holiday destinations for British holidaymakers. The storm that hit Paros,…

Tesla reported a 13% drop in vehicle sales in the first three months of the year, making it the electric vehicle maker’s worst quarter since 2022. It’s another sign that Elon Musk’s once high-flying electric car company is struggling to attract buyers. The drop is likely due to a combination of factors, including Tesla’s ageing lineup, growing competition from rivals, and backlash over Elon Musk’s alignment with right-wing politics. It also serves as a warning that the company’s first-quarter earnings report, due later this month, could disappoint investors. The manufacturing giant reported that it delivered 336,681 cars globally in the…

The boss of Heathrow came under fire for last month’s 18-hour shutdown after an airline representative revealed he had raised concerns about the airport’s resilience days earlier, as lawmakers scrutinised the nationally embarrassing incident. Recall that a blaze at a substation near to the airport caused the closure on March 21, raising questions about the resilience of national infrastructure. The incident left about 300,000 people stranded and cost airlines millions of pounds. Seeking to learn lessons, lawmakers on Wednesday quizzed the chief executive of Heathrow and senior representatives from National Grid, power provider SSE and an airline representative. The boss…

European visitors to Britain will have to purchase an electronic permit in advance for trips from Wednesday, as the UK government follows other countries in seeking to strengthen immigration security by screening people before they cross its borders. The Electronic Travel Authorisation (ETA) scheme requires all visitors who do not need a visa to enter Britain to purchase pre-travel authorisation online at a cost of 10 pounds (12 euros), rising to 16 pounds from April 9. Irish citizens are excluded. This regime was initially rolled out to non-European nationals last year, including visitors from the United States, Canada and Australia.…

Israel’s military operation in the Gaza Strip has intensified, with Defense Minister Yoav Gallant announcing a broader offensive aimed at seizing more territory and neutralizing militant threats. The announcement followed reports from local hospitals that over 40 people had been killed in overnight airstrikes, with nearly a dozen of the victims identified as children. In a statement released Wednesday, Gallant declared that Israeli forces are expanding their ground campaign to “cleanse” militant elements and take control of large areas within Gaza. These newly seized territories, according to the defense minister, would eventually be incorporated into Israel’s expanded security zones. Although…