Breaking AI & Tech News Analyzed

Oil prices have reached their highest level in nearly two weeks, with Brent crude rising over 3% to $116 a barrel on Monday morning. The surge comes amid escalating tensions between the US, Israel, and Iran, with Iran accusing the US of preparing for a ground invasion.The conflict has disrupted about one-fifth of global oil and liquified natural gas (LNG) supplies, plunging the world into its biggest energy crisis in decades. Iran's effective closure of the Strait of Hormuz has led to a nearly 60% rise in oil prices since the start of the war.Analysts warn that oil prices are likely to keep rising unless maritime traffic returns to normal levels in the strait. US President Donald Trump has threatened to 'obliterate' Iran's energy infrastructure if Tehran does not relinquish its stranglehold on the waterway by a deadline of April 6.Greg Newman, CEO of Onyx Capital Group, said energy consumers are only beginning to feel the true fallout of the turmoil, with Brent expected to rise towards $120 and beyond. The scale of the disruption has yet to be fully appreciated, with physical premiums at their highest ever.

Tottenham Hotspur is on the verge of appointing Roberto De Zerbi as their new manager following productive talks on Monday. The Italian coach has emerged as the club's top choice to replace Igor Tudor, who left his interim position on Sunday after failing to improve the team's form.De Zerbi, who recently parted ways with Marseille, is now the only viable candidate for the role, with Spurs not engaging with other potential candidates. The club aims to secure his services on a long-term contract, believing he can help them stay in the Premier League and build for the next season.The potential appointment of De Zerbi could also impact Mauricio Pochettino's chances of returning to the club. Pochettino, currently managing the US national team, had been considered for an emotional return to Spurs in the summer, but De Zerbi's possible arrival might rule out that move.De Zerbi's backing of Mason Greenwood during his time at Marseille has raised concerns among some Tottenham supporter groups. Greenwood was charged with attempted rape and assault in 2022, although the case was later discontinued. Despite these concerns, Spurs seem willing to overlook them to secure De Zerbi's appointment.The situation at Tottenham is critical, with the team currently one point and one place above the relegation zone and having gone 13 league matches without a win – their worst run since the 1934-35 season. De Zerbi's task would be to turn the team's fortunes around and secure their Premier League status.

The International Monetary Fund (IMF) has issued a stark warning that the ongoing conflict in the Middle East will lead to higher prices and slower global growth, affecting countries worldwide. The Washington-based organisation emphasised that a rise in energy and food costs will harm economic growth this year and could leave lasting scars on the global economy.The IMF's analysis, published in a blogpost by its main department heads, including chief economist Pierre-Olivier Gourinchas, noted that governments with high levels of borrowing will have limited access to funds to cushion the worst effects of the crisis. The organisation warned that all roads lead to higher prices and slower growth should the conflict continue to disrupt the supply of oil, gas, and fertiliser from the Gulf.While some countries, such as the US, may gain from higher fossil fuel prices as net exporters of oil and gas, the rise in bills for petrol, diesel, and food will harm living standards. Businesses are also forecast to come under pressure to raise prices, possibly forcing central banks to raise interest rates to combat inflation.The IMF highlighted that about a third of fertiliser production travels through the strait of Hormuz, which could push up prices. The UN Food and Agriculture Organisation projects that global prices could average 15% to 20% higher in the first half of 2026 if the crisis persists. Natural gas prices have more than doubled in the UK since last December to about £140 a therm, while a barrel of Brent crude that cost about $60 before the conflict hit more than $116 on Monday before falling back to $112.The IMF added that forecasts for sharp rises in the cost of gas and electricity in Europe next winter are forcing governments to consider higher subsidies and welfare payments to the worst-affected households. The organisation noted that countries such as Italy and the UK are especially exposed by their reliance on gas-fired power, while France and Spain are relatively protected by their greater nuclear and renewables capacity.

The Financial Conduct Authority (FCA) will unveil the final terms of its compensation scheme for the UK car finance scandal on Monday, providing clarity for millions of drivers who may be eligible for payouts. The scheme, which is expected to cost around £11bn, will offer redress to drivers who were overcharged for loans as a result of controversial commission payments between lenders and car dealers.The FCA's proposal, outlined over 360 pages, suggests that 14m motor finance agreements will be affected, with individual compensation payouts averaging around £700. However, some groups have argued that this amount is too low, and that consumers could be due £1,500 or more.The car loan providers most impacted by the scheme include Lloyds Banking Group, Santander, Barclays, and Close Brothers. These companies have been lobbying against the FCA's proposals, arguing that they are too generous and could disrupt the car finance market.The FCA's scheme aims to draw a line under the car finance scandal, but there are concerns that it could be circumvented or delayed by aggrieved parties. Some lenders and claims law firms have signaled that they may consider legal action against the FCA's final proposals.

The UK government is considering plans to provide financial support to households hardest hit by the looming energy crisis, with a focus on targeting those who need it most. Energy bills are forecast to hit nearly £2,000 a year from July, prompting concerns about the impact on low-income households.Under one plan, extra cash could be injected into the crisis and resilience fund (CRF), a £1bn a year council-run scheme in England that provides preventative support to communities and assists people facing financial crises. The fund could be topped up to help cushion households identified by councils as facing particular hardship from higher energy bills.Chancellor Rachel Reeves has ruled out universal support and is under pressure from financial markets to limit the extent of the support to keep within budget spending limits. However, she has emphasized the need for targeted support, saying: "The progressive, universal approach that we are taking is the right one … £150 off everyone’s energy bills, but then targeted support for those who need it most."The government is also exploring other options, including expanding support to households that have high bills but do not currently qualify for benefits. This could involve allowing councils to dispense funds to households in need.Rising energy costs have been driven by the conflict in the Middle East, with Brent crude oil prices surging to over $116 a barrel. The global oil benchmark is on course for a record monthly rise of nearly 60%, exceeding gains made during the 1990 Gulf war.The UK's interest rate on 10-year debt has also hit its highest level since the 2008 financial crisis, just over 5%, although rates eased to 4.95% by Monday. Government borrowing costs around the world have climbed since the US and Israel attacked Iran, as financial markets calculate that governments will be urged to borrow more heavily to cope with the war's aftershocks.

The price of oil has surged to $116 a barrel after Donald Trump's comments on seizing Iranian oil, sparking concerns over a potential escalation in the Middle East conflict. Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday.Trump told the Financial Times that his 'favourite thing is to take the oil in Iran,' which led to a significant increase in oil prices and a drop in Asian stock markets. Japan's Nikkei fell by 3%, while the South Korean Kospi dropped 3.4%. Hong Kong's Hang Seng index shed about 1%.The conflict in the Middle East has escalated with the arrival of 3,500 US troops and Houthi rebels in Yemen firing ballistic missiles at Israeli sites. This has led to concerns over a potential disruption in oil supplies, causing natural gas prices to increase in Europe.Analysts warn that if the conflict doesn't end quickly, crude could rise to $150 or even $200 per barrel, which could lead to a global recession. The UK's Keir Starmer is set to hold talks with bosses from Shell, BP, and Equinor to discuss emergency measures to contain the crisis.The war in the Middle East has driven Brent crude to its biggest monthly gain ever, up by 59% since the start of March. Industry figures have warned of potential temporary shortages at petrol pumps in the UK due to the conflict.

France forward Kylian Mbappe showed no signs of his recent knee injury as he scored in a 2-1 friendly victory over Brazil on Thursday. The match, a World Cup warm-up, was played at Gillette Stadium in Foxborough, Massachusetts, with a crowd of 66,215.Mbappe broke free to score in the 32nd minute, giving France an early lead. Hugo Ekitike doubled the lead in the 65th minute. Brazil reduced the deficit to 2-1 in the 78th minute through Bremer.The match was notable for Mbappe's return to action after a knee injury. He had sprained his left knee in December but played through January before missing almost a month. Mbappe confirmed on Monday that his injury was 'truly behind' him.The game also featured a mid-half 'cooling break' to allow players to rest and hydrate, a FIFA innovation for the 2026 World Cup. This break was included regardless of the temperature, which was in the mid-60s (15 degrees Celsius) on the day of the match.The victory for France came despite Dayot Upamecano being sent off in the 55th minute for a clear foul on a player with a path to the goal. The card was upgraded from yellow to red on video review.If France and Brazil both win their groups at the World Cup, they could potentially meet again in the final.

Costa Rica has announced that it will accept 25 migrants deported from the United States per week as part of an agreement to assist with President Donald Trump's policy of deporting immigrants to 'third countries'.The Central American nation joins a growing number of countries across Africa and the Americas that have signed contentious, often secretive agreements with the US to accept deportees from other countries.In many cases, critics say migrants who previously hoped to seek asylum in the US are left in a legal 'black hole' in foreign countries where they don't speak the language.Countries that have agreed to receive third-party migrants include South Sudan, Honduras, Rwanda, Guyana and several Caribbean islands like Dominica and St Kitts and Nevis.'Costa Rica is prepared to see this flow of people,' said Costa Rican Public Security Minister Mario Zamora Cordero in a video statement on Thursday.Costa Rica's government signed the pact on Monday during a visit from US special envoy Kristi Noem, who was recently named to oversee the so-called 'Shield of the Americas'.Noem, who was fired earlier this month from her role as secretary of Homeland Security, has been travelling through Latin America, with recent stops in Guyana and Ecuador.The Trump administration has spent at least $40m to deport about 300 migrants to countries other than their own, according to a February report by the Democratic staff of the Senate Foreign Relations Committee.

US President Donald Trump has extended his deadline for Iran to open the Strait of Hormuz by 10 days to April 6, 2026. The decision comes as talks between the US and Iran are described as 'going very well'.In a social media post, Trump stated: 'As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M., Eastern Time.'Trump also mentioned that despite 'erroneous statements to the contrary by the Fake News Media,' talks with Iran are ongoing and progressing well. He had previously urged Iranian leaders to negotiate an end to the near-month-long war or face further assassinations of senior officials.The conflict has resulted in significant escalation, with Israel conducting strikes on Iranian targets, including the killing of Alireza Tangsiri, the Revolutionary Guards' naval commander. Iran has retaliated with strikes across the Middle East, including in Tel Aviv, Modi'in, and Jerusalem.Trump has claimed victory in the war, stating, 'In a certain sense, we have already won.' He has also criticized NATO allies and described Iran as producing 'great negotiators' but 'lousy fighters.'The US and Israel have destroyed much of Iran's naval capabilities, but Tehran still possesses smaller boats capable of laying mines and launching anti-ship cruise missiles. These could render the Strait of Hormuz impassable to shipping.Iran's foreign minister, Abbas Araghchi, accused the US of 'double standards,' citing the US support for Israel's actions in Gaza while condemning Iran's defense in the Strait of Hormuz.The conflict has resulted in a significant death toll, with over 1,900 people killed in Iran and nearly 1,100 in Lebanon. The situation remains volatile, with fears of further escalation and potential ground invasion.