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Economy Apr 06, 2026

US Defense Contractors and Oil Giants Rake in Record Profits as Iran Conflict Pushes Gas Prices Over $4

Five weeks into the US‑Israel war with Iran, soaring gas prices have lifted US crude to over $110 a…
Two weeks after the United States and Israel entered a direct conflict with Iran, the White House faced mounting criticism that the war would drive up fuel costs and anger voters. Former President Donald Trump attempted to calm concerns on Truth Social, noting that the United States is the world’s largest oil producer and that higher prices translate into higher revenues for American companies. Now, five weeks into the hostilities, the reality is becoming clear: defense contractors and oil companies are the primary beneficiaries of the escalating energy market. The Department of Defense announced that Boeing will partner with Lockheed Martin to triple U.S. production of missile seekers, a move that sent Lockheed Martin’s stock up 25% since the start of the year. The announcement also lifted Boeing’s share price, underscoring how wartime procurement is boosting aerospace valuations. At the same time, Iran’s continued blockade of the Strait of Hormuz—through which roughly one‑fifth of global oil and gas flows—has pushed U.S. crude from $65 to over $110 per barrel in just a month. Pump prices have mirrored this surge, breaking the $4‑a‑gallon barrier for the first time since 2022. Oil majors have responded with sharp stock gains; ExxonMobil, Shell and Chevron have each risen more than 20% year‑to‑date. According to market‑research firm Rystad Energy, U.S. oil producers stand to earn an additional $63 billion as barrels trade above $100. “Oil prices in March have been materially higher than anyone expected, delivering a windfall for the vast majority of U.S. energy companies,” said Leo Mariani, senior analyst at Roth Capital Partners. The last comparable price shock occurred in 2022 after Russia’s invasion of Ukraine, when U.S. gasoline peaked at $5 per gallon and inflation surged to 9%. That episode generated $916 billion in global oil‑and‑gas profits, with U.S. firms accounting for $281 billion. Chevron’s subsequent $75 billion stock‑buyback program—seven times its prior year’s amount—illustrates how quickly companies can translate price spikes into shareholder returns. Research by economists Gregor Semieniuk and Isabella Weber revealed that in 2022, 50% of oil‑company profits went to the top 1% of Americans, while the bottom half of the wealth distribution captured just 1% of those gains. Analysts warn that the current conflict could generate even larger windfalls because it has damaged actual production capacity in the Middle East, not merely reshuffled supply. “You’re benefiting a lot more from higher prices than you are from lost production,” Mariani noted, emphasizing the outsized profit potential. Even if hostilities cease, restoring pre‑conflict output in the region may take months, prolonging the supply crunch. As senior fellow Clay Seagle of the Center for Strategic and International Studies explains, the current situation differs from 2022: “Now we’re dealing with a much more severe supply event because the oil has been actually removed from the market.” Prolonged high prices could eventually curb demand, as consumers and businesses seek alternatives—a shift seen after the 1970s oil shocks when the U.S. moved away from oil‑generated electricity. Nonetheless, many sectors remain vulnerable: diesel, a key fuel for trucks and aircraft, has risen 40%, and airline stocks such as United and American have fallen more than 15% since the year began. Moreover, disruptions to liquefied natural gas (LNG) production threaten fertilizer supplies essential for agriculture. Semieniuk cautions that “we’re approaching the kinds of disruption levels we saw in 2022, and with that, the kinds of profits that we saw there. If this takes longer, it’s going to surpass that.”
#Lockheed Martin #Exxon Mobil #Chevron
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Entertainment Apr 06, 2026

Aisling Bea’s ‘Older Than Jesus’ Tour Marries Irreverent Humor with Motherhood Reflections

Irish comedian Aisling Bea, now 42, debuts her first solo stand‑up tour ‘Older Than Jesus’, mixing …
Aisling Bea, 42, finally steps onto the solo stand‑up circuit with a 75‑minute show titled “Older Than Jesus.” The title, a tongue‑in‑cheek nod to the mid‑life milestone of outliving the biblical figure, hints at the personal reflections that anchor the performance. Although Bea is best known for TV hits and a stint on Taskmaster, this is her inaugural headline tour. The material draws heavily on her recent “accidental pregnancy” and the ensuing transition to motherhood, offering a candid look at the chaos and comedy of late‑stage parenthood. True to her reputation, Bea’s humor remains delightfully reckless. She riffs on childhood memories of crafting DIY Dairylea spreads with second‑hand “bodies of Christ,” reenacts a disastrous Take That movie wrap‑party, and even masquerades as a dad in her sister’s antenatal class. Each anecdote is delivered with a cartoonish egotism that celebrates her own absurdity. Physical comedy spikes the night: a deliberately over‑the‑top “slut drop” followed by a playlist curated for her own C‑section. These moments juxtapose the glamour‑obsessed persona she projects on Instagram with the far less polished reality of a new mother, underscoring the show’s central tension. In the closing segment, Bea pivots from pure silliness to a more earnest commentary, using pregnancy and parenthood as lenses to critique entrenched gender expectations. The moral—delivered with a sincere, if slightly unexpected, earnestness—offers a satisfying resolution to a set that otherwise revels in delightful immaturity. The premiere took place at De Montfort Hall in Leicester on 8 April, with the tour set to continue across the UK in the weeks ahead.
#Aisling Bea #Older Than Jesus #Stand-up comedy
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World Apr 06, 2026

Trump Sets Tuesday Night Deadline for Iran to Reopen Strait of Hormuz, Threatens Power Plants and Bridges

President Donald Trump warned Iran that the Strait of Hormuz must be reopened by Tuesday night or U…
President Donald Trump issued a stark warning on Sunday, giving Tehran until Tuesday night to reopen the Strait of Hormuz or face U.S. strikes on Iranian power plants and bridges. The message, posted on his Truth Social platform, was laced with profanity and a deadline of 8:00 P.M. Eastern Time. Iran’s parliament speaker, Mohammad‑Bagher Ghalibaf, responded on social media, accusing the United States of “reckless moves” that would set the entire region ablaze and turn it into “living hell.” The latest escalation follows the rescue of a second U.S. crew member from a downed F‑15E fighter that crashed in southwestern Iran, an operation that saw American special forces and Iranian troops racing against each other in mountainous terrain. Trump has repeatedly shifted the deadline for Iran, extending it at least twice. In his expletive‑laden post he warned, “Open the Fuckin’ Strait, you crazy bastards, or you’ll be living in Hell – JUST WATCH!” Financial markets reacted instantly: the U.S. benchmark West Texas Intermediate rose 1.86 % to over $112 per barrel, while Brent crude climbed above $110. The surge underscores how geopolitical flashpoints can quickly translate into higher energy costs for consumers worldwide. Trump also hinted at a possible diplomatic breakthrough, telling Fox News there was a “good chance” of an agreement on Monday. Yet he added, “If they don’t make a deal and fast, I’m considering blowing everything up and taking over the oil.” Legal scholars warned that targeting civilian infrastructure would breach the Geneva Conventions. Yale professor of international law Oona A. Hathaway noted that the president offered no justification to reclassify power plants, bridges, or steel factories as legitimate military targets, and that any such attacks would likely constitute war crimes. Iranian authorities estimate that the ongoing U.S.–Israeli campaign has damaged roughly 81,000 civilian sites, including 61,000 homes, 19,000 commercial facilities, 275 medical centres, and nearly 500 schools. Israeli Prime Minister Benjamin Netanyahu claimed that the coalition has destroyed about 70 % of Iran’s steel production capacity, citing its alleged use in missile manufacturing. In retaliation, Iran has intensified attacks on Gulf shipping and infrastructure. Over the weekend Iranian drones struck a petrochemical complex in Bahrain, igniting thick black smoke, and hit multiple Kuwait Petroleum facilities, causing fires and “significant material losses” at power and desalination plants. The most dramatic recent strike was the demolition of Iran’s unfinished 136‑metre B1 suspension bridge, a $400 million project meant to link Tehran and Karaj. The attack killed 13 people and injured 95, prompting the bridge’s engineer to lament the loss of a symbol of national pride. Trump posted a video of the bridge’s destruction, framing it as a response to Iran’s alleged unwillingness to negotiate. He later told Axios that the U.S. had been “close to an agreement” but that Iran’s demand to meet “in five days” was a pretext for the attack. Domestic criticism was swift. Senate Minority Leader Chuck Schumer denounced the president’s rhetoric as “unhinged” and warned that such threats could alienate allies and amount to war crimes. International law experts reiterated that civilian objects—such as power plants, bridges, and hospitals—are protected under the Geneva Conventions. Any deliberate targeting of these assets for bargaining leverage would violate the conventions and could trigger legal accountability for the United States and any cooperating parties.
#iran #trump #iranian
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Politics Apr 05, 2026

Repeated Strikes on Iran’s Bushehr Reactor Heighten Threat of Gulf‑wide Radioactive Disaster

Iran’s sole nuclear power plant, Bushehr, has suffered four attacks since the Israel‑US war began, …
Iran’s only operational nuclear power station, the Bushehr plant, has endured a series of assaults amid the escalating Israel‑United States campaign against Tehran, sparking alarm over a possible regional nuclear incident.The most recent strike on Saturday resulted in the death of a security guard and damage to an auxiliary building, according to the state‑run Atomic Energy Organisation of Iran (AEOI).Foreign Minister Abbas Araghchi asserted that the facility has been "bombed" four times since the conflict erupted on 28 February, accusing the United States and Israel of a "lack of concern" for nuclear safety.Security analysts stress that any bombing of the reactor or its spent‑fuel pools would unleash the radioactive isotope Caesium‑137, a contaminant capable of traveling far via wind and water, rendering soil, food and drinking supplies hazardous for decades and increasing cancer risks for exposed populations.The Bushehr complex, built by Russia and completed in 2011, supplies roughly 1,000 MW to Iran’s grid. It is the Middle East’s first nuclear plant and is slated to host two additional reactors by 2029, with hundreds of Russian technicians on site.The International Atomic Energy Agency (IAEA) has repeatedly warned that a direct hit could trigger a “regional catastrophe.” Director‑General Rafael Grossi told the UN Security Council that striking the plant could cause a "very high release of radioactivity" and, if power to the cooling system were cut, could lead to a reactor melt. He called for "maximum restraint," noting that evacuation zones could extend several hundred kilometres, requiring iodine prophylaxis and food‑supply restrictions.Beyond terrestrial fallout, experts highlight the danger of contaminating the Gulf’s shallow waters. Radioactive pollution would devastate marine ecosystems and cripple desalination plants, which lack the technology to filter such material. Qatar’s prime minister, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, warned that a simulated Bushehr attack would render the sea "entirely contaminated" and leave the country without water within three days.International law explicitly forbids targeting civilian nuclear installations. Article 56 of Protocol I to the Geneva Conventions bars attacks on "works and installations containing dangerous forces," and the IAEA’s own guidelines prohibit indiscriminate strikes on reactors, fuel storage, or power supplies.Araghchi also criticized the muted Western response, contrasting it with the outcry over Ukraine’s Zaporizhzhia plant, which prompted emergency UN sessions, NATO warnings, and statements from the EU, UK and US. In the Bushehr case, the EU has remained silent, while Russia, which maintains a sizable staff at the site, issued a condemnation of the attacks.Historical precedents such as the 2011 Fukushima disaster and the 1986 Chernobyl explosion illustrate the long‑term human and environmental toll of nuclear accidents, underscoring why the safety of Bushehr is viewed as a matter of regional, not merely national, security.
#Bushehr Nuclear Power Plant #IAEA #Caesium-137
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Politics Apr 05, 2026

Iranian Drone Strikes Cripple Kuwait’s Power and Desalination Facilities, Escalating Gulf Tensions

Iranian drones damaged two Kuwaiti power and water desalination plants and ignited a fire at an oil…
Iranian drone attacks on Sunday inflicted serious damage on two of Kuwait's power and water desalination plants and sparked a fire at the Shuwaikh Oil Sector Complex, though no injuries were reported.Fatima Abbas Johar Hayat, spokesperson for Kuwait’s Ministry of Electricity, Water and Renewable Energy, described the incident as “criminal aggression” that caused “serious material damage” and forced the shutdown of two electricity‑generating units.Al Jazeera’s Malika Traina highlighted the strategic importance of the facilities, noting that around 90 % of Kuwait’s drinking water is produced by these desalination plants, making the disruption a critical blow to the nation’s water security.The strikes come as Gulf states bear the brunt of Tehran’s retaliation to recent US and Israeli attacks on Iran. Kuwait and the United Arab Emirates have become the epicentre of these assaults, according to Al Jazeera’s Victoria Gatenby in Doha.Gatenby warned that if President Donald Trump and Israeli Prime Minister Benjamin Netanyahu follow through on threats to intensify pressure on Iran, Tehran may target similar civilian and energy infrastructure across the Gulf.Bahrain also suffered drone attacks, with its Gulf Petrochemical Industries Co reporting damage to several operational units and Bapco Energies confirming a hit on an oil storage tank. Both incidents caused fires that were quickly extinguished, and no casualties were reported.In Abu Dhabi, authorities responded to multiple fires at the Borouge petrochemical plant, attributing them to falling debris from an interception. Operations were suspended pending a damage assessment, but no injuries have been confirmed.Saudi Arabia announced the interception of missiles early Sunday, underscoring the heightened military alert across the region.Gatenby noted that while Iran claims it is only targeting US military assets, the pattern over the past five weeks shows a broader focus on civilian and critical energy infrastructure. Gulf nations have exercised “incredible restraint,” yet their leaders caution that patience is not unlimited and that Saudi Arabia is invoking its right to self‑defence under Article 51 of the UN Charter.The escalating series of attacks highlights the fragile security environment in the Gulf and raises concerns about the resilience of essential services such as power and water supply amid ongoing geopolitical tensions.
#Iran #Kuwait #drone strikes
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Politics Apr 05, 2026

Trump Administration Seeks to Resume White House Ballroom Construction Citing National Security

The Trump administration has filed an emergency motion to resume construction on the White House ba…
The Trump administration has filed an emergency motion to resume construction on its White House ballroom project, citing national security concerns. The project, which has been temporarily halted by a court decision, is estimated to cost nearly $400m and has sparked controversy over its potential impact on the White House's historic design.Lawyers for the Trump administration and the National Park Service have called the court decision to pause construction 'shocking, unprecedented, and improper'. They argue that the court-ordered suspension has left a 'massive excavation' site next to the executive mansion, threatening grave national-security harms to the White House, the President and his family, and the President's staff.The motion outlines various security measures slated to be incorporated into the ballroom project, including drone-proof roofing materials and glass meant to withstand bullets and blasts. 'Time is of the essence,' the motion reads.The court filing is the latest response from the Trump administration to a March 31 ruling from Judge Richard Leon, an appointee of former Republican President George W Bush. Judge Leon had issued a 35-page ruling ordering construction on the project to stop, citing the need for congressional approval for a project so transformative.The Trump administration has appealed Leon's injunction against the project and has claimed broad authority to make changes to the White House, citing past renovations under earlier presidents. The project has grown from a $200m structure to a nearly $400m one, by current estimates, and is set to span 90,000 square feet.
#Trump Administration #White House #National Security
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World Economy Apr 05, 2026

Iran's Drone Strikes on Kuwait's Oil Infrastructure Escalate Tensions Ahead of Opec+ Talks

Iranian drones have struck Kuwait's oil infrastructure, causing severe material damage and threaten…
Iranian drones have launched a series of attacks on Kuwait's oil infrastructure, resulting in severe material damage and posing a significant threat to oil supplies that are already strained due to the ongoing US-Israel war on Iran.The drone strikes, which took place on Sunday, happened just hours before members of the Opec+ group of major global oil suppliers convened to discuss strategies for increasing output, despite Iran's effective blockade of the Strait of Hormuz shipping route.The Islamic Revolutionary Guard Corps of Iran claimed responsibility for the attacks, stating that they had targeted petrochemical plants in Kuwait, as well as in the United Arab Emirates and Bahrain. The Kuwait Petroleum Corporation reported damage and fires at its subsidiaries, including at the Shuwaikh oil sector complex, which houses the oil ministry and KPC headquarters.The attacks on Kuwait's oil infrastructure are part of a broader escalation of tensions in the Middle East, with Iranian drones also reportedly striking an office complex for Kuwaiti government ministries and two power and water desalination plants.The conflict has led to the largest disruption to oil supplies in history, with the price of Brent crude surging more than 50% since the start of the year to a peak of $119.50 a barrel in March. It is currently trading at about $109 a barrel.The disruptions have had a significant impact on energy costs for consumers, with the average price of a litre of unleaded petrol in the UK reaching 154.45p on Sunday, and the average US fuel price passing $4 a gallon for the first time in four years.Opec+ members have agreed in principle to raise output by 206,000 barrels a day in May, but the agreement remains largely symbolic while Iran continues to block the Strait of Hormuz, a vital trade artery through which about 20% of the world's total crude oil passes.
#iran #oil #kuwait
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Sport Apr 05, 2026

Deontay Wilder Challenges Anthony Joshua for Heavyweight Showdown After Split‑Decision Victory Over Derek Chisora

After edging Derek Chisora by split decision in London, Deontay Wilder publicly challenged Anthony …
Deontay Wilder secured a split‑decision win over Derek Chisora in London on Saturday, prompting the former WBC champion to directly challenge Anthony Joshua for a long‑awaited heavyweight bout.As Wilder exited the arena, he walked past Joshua, exchanged a fist‑bump, and declared, “Let’s do it.” The American added, “I’m ready for whoever is in the heavyweight division. Call me Mr Clean because I want to clean up the whole division.”Wilder, who holds a record of 45‑4‑1 with 43 knockouts, faced a resilient Chisora who fought his 50th professional contest. The British veteran, aged 42, fell to a split decision with judges scoring the bout 115‑111, 112‑115 and 115‑113 in Wilder’s favour.Joshua, who last fought in December when he knocked out Jake Paul, has since recovered from a serious car accident in Nigeria that claimed two of his close friends. Promoter Eddie Hearn told Fight Hub TV that Joshua would have “no problem” taking the fight, noting the British boxer stared at Wilder “ice‑cold” but would accept the challenge.Historically, Wilder was the WBC champion when Joshua held the WBA, IBF and WBO belts, but a unification bout never materialised after Wilder’s loss to Tyson Fury and Joshua’s defeat to Oleksandr Usyk, who later unified the titles by beating Fury in May 2024.Chisora, whose record stands at 36‑14 with 23 knockouts, acknowledged the end of his fighting career after the loss. Speaking beside his son Zion, he said, “I’m tired now. I can’t do it any more… I’ve had a great career.” While he hinted he might stay involved in boxing in another capacity, he stopped short of confirming a comeback.The potential Wilder‑Joshua clash now looms as the heavyweight division seeks a new marquee matchup, with both fighters positioning themselves as the next dominant force.
#wilder #chisora #joshua
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Politics Apr 03, 2026

Gaza Residents Rebuild Homes from Rubble Amidst Ongoing Conflict

Residents of Gaza are rebuilding their homes using rubble and makeshift materials due to Israeli re…
In the devastated streets of Gaza City's Tuffah neighborhood, residents are taking matters into their own hands to rebuild their homes. Mohammed al-Jadba, a 31-year-old father of 10, is using stones from the rubble of his destroyed house and mud to construct a new shelter. His home, once a four-storey building, was reduced to rubble during Israel's genocidal war on Gaza.With Israeli restrictions on imports preventing the entry of essential construction materials like cement, Gaza residents are forced to get creative. Mohammed has been collecting iron, window frames, and door frames from his old house to use in his new build. The mud, mixed with human hair collected from barbershops, is being used to stick everything together.The United Nations estimates that it will cost $70bn to fully reconstruct Gaza, with 92% of residential buildings damaged or destroyed. An urgent $20bn is needed within the first three years to initiate basic recovery and restore essential services. However, reconstruction efforts have been hindered by continued Israeli restrictions on the entry of construction materials and heavy machinery.As a result, Palestinians in Gaza have focused on partial reconstruction, using available materials to make damaged homes habitable. The United Nations Development Programme (UNDP) has worked on over 230 housing units, benefiting more than a thousand people. However, these interventions are temporary solutions, and the real solution remains elusive.Abdel Nasser al-Jalousi, a 55-year-old resident of Khan Younis, has benefited from partial rehabilitation projects. His heavily damaged home has been made habitable with tarpaulins used as substitutes for walls, doors, and room partitions. However, he stresses that these materials are not a long-term fix and will need to be replaced every season.The scale of the crisis remains severe, with over 213,000 families living in tents and widespread damage during winter storms. The situation highlights the need for political will and massive resources to rebuild Gaza and provide sustainable solutions for its residents.
#Gaza Strip #Israel Defense Forces #UNRWA
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