Global food prices jump as Iran war drives up costs; pound and UK bonds stronger after local election results – business live
Posted on Friday May 08, 2026

Rolling coverage of the latest economic and financial news

UK bond prices have now rallied, after Keir Starmer pledged not to resign and analysts suggested Labour was not doing as badly as feared in the council elections.

The yield (or interest rate) on benchmark 10-year bonds has dropped by 2.6 basis points (0.026 of a percentage point) to 4.894% this morning.

No, I’m not going to walk away and plunge the country into chaos. We were elected to deal with these challenges and that’s what we will do.

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US trade court rules against Trump’s 10% global tariffs
Posted on Thursday May 07, 2026

Trump also issues new deadline for EU to implement trade deal terms before raising tariffs to ‘much higher levels’

The US trade court on Thursday ruled against Donald Trump’s latest 10% global tariffs, finding across-the-board tariffs were not justified under a 1970s trade law.

The US court of international trade ruled in favor of small businesses that challenged the tariffs, which took effect on 24 February. The ruling was 2-1, with one judge saying it was premature to grant victory to the small business plaintiffs.

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Whirlpool warns of ‘recession-level’ slump as Iran war and tariff ruling hit sales
Posted on Thursday May 07, 2026

Appliance giant slashes earnings forecast and hikes prices by 10% with another 4% spike planned

With the war in Iran and economic concerns putting pressure on consumers and how they spend their money, Whirlpool is having to adjust to Americans delaying big-ticket purchases while also raising prices to help stabilize its North American business.

The company known for brands such as KitchenAid, Maytag and its namesake, said that the Iran war led to a “recession-level industry decline” in America as consumer confidence collapsed in late February and March. Revenue dropped nearly 10% in the quarter as sales of major appliances in North America declined more than 7%.

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British Airways owner warns of lower profits over soaring jet fuel costs
Posted on Friday May 08, 2026

International Airlines Group expects to spend £1.7bn more on fuel than planned since US-Israeli attack on Iran

• Business news – live updates

The parent company of British Airways has warned of lower profits and said it expects to spend about €2bn (£1.72bn) more on fuel than planned this year due to the Iran war.

International Airlines Group (IAG), which also owns Aer Lingus, Iberia and Vueling, said it has hedged 70% of its expected fuel use for this year with costs expected to be about €9bn, up from previous forecasts of €7.1bn.

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UK schools should remove pupils’ online photos as AI blackmail threat grows, say experts
Posted on Thursday May 07, 2026

Criminals are manipulating pictures found on school websites and social media to create sexually explicit images

UK schools should remove pictures of pupils’ faces from their websites and social media accounts because blackmailers are using them to create sexually explicit images, experts have said.

Child safety experts and the UK’s National Crime Agency (NCA) warn that criminals are using AI to manipulate photos of children and then demand cash not to publish them.

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‘Being human helps’: despite rise of AI is there still hope for Europe’s translators?
Posted on Friday May 08, 2026

A booming tech sector has disrupted translation jobs in publishing – but they could be needed for a while longer yet

In February 2022, while he was plugging away at rendering the US writer Dana Spiotta’s novel Wayward into French, the literary translator Yoann Gentric decided he needed a bit of light relief. He would test whether AI could put him out of work.

Gentric had been grappling with a short non-verbal sentence that described the book’s protagonist’s feelings upon opening a window: “Bright, sharp night air, bracing.” He put the prompt into DeepL, a neural-network-powered machine translation engine that regularly outperforms Google Translate in accuracy assessments.

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European reaction, playoffs spy row, Premier League news and more – football live
Posted on Friday May 08, 2026

⚽ All the latest news and previews going into a big weekend
⚽ Premier League preview | Fixtures | Tables | Mail Dominic

Premier League: The press conferences from the Premier League managers are coming thick and fast. Before we get to those, here is what can be decided this weekend.

European qualification: With Manchester United joining Arsenal and Manchester City in securing Champions League football next season after beating Liverpool last weekend, there are just two guaranteed spots left in Europe’s top-tier club competition. Liverpool and Aston Villa currently sit fourth and fifth respectively, with the Arne Slot’s side hosting Chelsea on Saturday and Villa travelling to Burnley on Sunday. Both sides will confirm Champions League qualification if they win and sixth-placed Bournemouth drop points away to Fulham on Saturday. A draw will also be enough for Liverpool and Villa if Bournemouth lose. However, sixth place could yet earn Champions League qualification. That will be the case if Villa finish fifth in the Premier League and go on to win the Europa League.

Relegation: Leeds and Forest both moved a step closer to securing their Premier League status thanks to 3-1 wins last week, beating Burnley at home and Chelsea away respectively. Victory for Leeds at Tottenham on Monday will guarantee their top-flight status for next season regardless of results elsewhere – though they will be safe before a ball has been kicked in north London if West Ham lose at home to Arsenal on Sunday. If West Ham draw with Arsenal, Leeds will be safe with a draw against Spurs. Forest will also be safe if they win at home against Newcastle on Sunday and West Ham fail to do so later in the day against Arsenal. A draw will be enough for Forest if Arsenal go on to beat West Ham.

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The seven games that will decide whether Arsenal or City win the title
Posted on Friday May 08, 2026

Arsenal have the advantage in the Premier League title race but will they hold off Manchester City’s challenge?

By WhoScored

Seven games remain: three for Arsenal, four for Manchester City. Seven opportunities for more twists and turns in the title race. Just as City appeared to be building their trademark relentless charge at the end of the season, they self-destructed in the space of 13 minutes at Everton. Jérémy Doku’s extraordinary late equaliser has given them a lifeline, but that 3-3 draw has handed the initiative back to Arsenal. Five points separate the sides and the equation is now brutally simple: if Arsenal win their last three games they will be crowned champions for the first time in 22 years, whereas City must be flawless and hope their rivals stumble.

Premier League titles turn on moments: Sergio Agüero’s 94th-minute winner in 2012, Steven Gerrard’s slip in 2014, Vincent Kompany’s thunderbolt in 2019, or City’s final-day comeback in 2022. The question now is whether the 2025-26 season has already had its defining moment in that Everton game or whether, with seven games to play, this campaign is yet to deliver the scene for which it will be remembered.

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