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Revolut, the UK banking app, has reported a 57% increase in profits for 2025, but warned that its support for energy-intensive sectors such as crypto and AI could lead to a reputational risk. The fintech company, which can now launch as a fully fledged UK bank after a five-year wait for regulatory approval, offers crypto trading and has applied for a banking licence in the US.The company's annual report highlighted that cryptocurrency mining and AI datacentres demand large amounts of power, with competition for electricity supplies getting steeper since the US-Israel war on Iran sent energy prices soaring over the past month. Revolut's chief executive, Nik Storonsky, hailed another “landmark year” for the company, which has 68.3 million individual customers and 767,000 business customers.Revolut's growth has been rapid, with revenues climbing 46% to £4.5bn and a £1.7bn pre-tax profit for 2025. The company plans to offer a wider array of banking services in the future, such as lending and other products, and has launched mortgage refinancing in Lithuania. Despite the potential risks, Revolut believes its digital-first approach and emphasis on financial inclusion could lead to it being “relatively insulated and even benefit from an orderly energy transition, relative to traditional financial institutions”.

Pakistan's military leadership has been playing a crucial role in attempting to broker negotiations between the US and Iran. The country's army chief, Asim Munir, recently had a call with US President Donald Trump to discuss the conflict. Diplomatic sources indicate that the US and Iran could meet for negotiations in Islamabad as early as this week to discuss an end to the war, which began almost a month ago. While Islamabad has yet to be officially confirmed as the venue, sources suggest that Tehran prefers Islamabad. Pakistani sources mention that US Vice-President JD Vance is being considered as a probable chief negotiator from the US side, rather than Trump's Middle East envoy Witkoff or Trump's son-in-law, Jared Kushner. Vance is viewed as a sceptic of the US decision to bomb Iran and has largely kept quiet on the conflict. After the phone call between Trump and Munir, Pakistan's Prime Minister, Muhammad Shehbaz Sharif, spoke to Iranian President Masoud Pezeshkian on Monday. According to an official readout of the call, they agreed on the urgent need for de-escalation, dialogue, and diplomacy. Sources suggest that Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, is likely to lead any talks from the Iranian side. However, Ghalibaf has dismissed reports of talks between the two sides as 'fake news'. An Iranian diplomatic source confirmed that talks are expected this week but expressed 'zero trust' in Washington. They stated that Iran would not accept Witkoff and Kushner as negotiators for any discussions. Negotiations between the US and Iran were ongoing when the US began its bombing campaign. The Iranian regime views these negotiations as an attempt by the Trump administration to deceive Iran into thinking it wanted a diplomatic solution while planning to attack. On Monday, Trump indicated that he would be willing to halt US strikes, claiming that 'strong talks' were being held between Iranian officials and Witkoff and Kushner. Trump told reporters that they had 'very, very strong talks' and that they had 'major points of agreement, I would say, almost all points of agreement'. The US president has given a five-day deadline to an ultimatum he gave over the weekend, threatening to 'obliterate' Iran's power plants and energy infrastructure if they did not reopen the Strait of Hormuz, a crucial shipping route currently being blockaded by Iran's military. Trump's announcement of talks helped boost markets, bringing oil prices sharply down to below $100 (£75) a barrel, the lowest in days.

The ongoing conflict between the United States and Iran has sparked concerns about the motivations behind Donald Trump's continued military actions. Kenneth Roth, a Guardian US columnist and former executive director of Human Rights Watch, draws a striking parallel between Trump's approach and that of Richard Nixon during the Vietnam War. Nixon's quest for 'peace with honor' in Vietnam led to years of devastation, resulting in over 20,000 American soldiers killed and a significantly higher toll among Vietnamese, Cambodian, and Laotian civilians. Similarly, Trump's conflict with Iran appears to be driven by a desire to assert dominance and protect his political reputation, rather than a clear military objective. The article questions the rationale behind Trump's continued bombing of Iran, citing claims that Iran's ballistic missile capacity has been functionally destroyed and its nuclear program 'obliterated.' With 7,000 Iranian protesters killed in January, the Trump administration's call for regime change seems unlikely to succeed. The current fixation on Iran's blockade of the Strait of Hormuz, which carries 20% of the world's oil and gas, has led to soaring petroleum prices. Trump's threat to destroy Iran's electrical infrastructure by the end of the week, unless Tehran agrees to allow the strait to reopen, raises concerns about war crimes and humanitarian consequences. Roth suggests that a de facto ceasefire, where Trump and Benjamin Netanyahu stop bombing, could be a more fruitful path to deescalation. However, Trump's desire for 'unconditional surrender' and the Iranian regime's insistence on lifting sanctions and affirming its right to nuclear enrichment complicate negotiations. The article concludes that Trump's pursuit of 'honor' and 'victory' in the conflict may come at a significant cost to the people of Iran, the global economy, and the United States itself, echoing the lessons of the Vietnam War.

Criterion Capital, a property company established by billionaire Asif Aziz, has strongly denied allegations of attempting to mass-evict tenants in the weeks leading up to the implementation of England's no-fault evictions ban on May 1. The controversy began when Matthew Pennycook, the housing minister, wrote to Criterion seeking urgent answers about its plans after reports emerged that the company had issued section 21 notices to a large number of tenants. These notices inform tenants of proposed eviction. According to reports, Criterion issued 87 section 21 notices across its property portfolio, which accounts for fewer than 5% of its total tenants. The company insists that this is not a case of mass eviction but rather 'routine and lawful tenancy management'. The company emphasized that more than a third of households who received these notices had chosen to move, describing these as 'tenant-led decisions.' Pennycook expressed concern that Criterion's actions, if true, would be those of a 'thoroughly unscrupulous landlord,' especially with the Renters' Rights Act set to ban no-fault evictions in England. He requested a transparent account of Criterion's actions regarding periodic tenancies at Britannia Point and other buildings in south London. In response, Criterion accused politicians of spreading 'inaccurate and politicised narratives' and claimed that tenants were being used as 'cannon fodder for political campaigning.' The controversy highlights the tension between property management practices and upcoming legislative changes aimed at protecting renters' rights in England.

The Shift in Apple's Navigation Monetization StrategyApple Maps has evolved from a controversial launch to a functional competitor, but the Cupertino giant is now preparing to introduce a new revenue stream that could fundamentally alter the app's user experience. According to reports from Bloomberg, Apple is gearing up to launch search-based advertising in its iOS Maps app later this year, with an official announcement expected as early as this month. This move signals a strategic pivot from Apple's traditional "walled garden" approach to monetization, directly challenging the long-standing dominance of Google Maps in the local search space.How the Ad Model Will FunctionThe proposed advertising model is expected to operate on a bidding system, similar to Google's approach. Businesses will bid for the opportunity to appear in "Top Results" when users search for specific terms, such as restaurants, bars, or retail stores. Unlike traditional banner ads, these placements are contextually relevant, appearing directly within the search results list. This integration aims to provide users with immediate access to local businesses while generating revenue for Apple, a model that Bing Maps has successfully utilized for years.Financial Implications for AppleWhile the specific financial targets have not been disclosed, the introduction of Maps ads represents a significant opportunity for Apple to diversify its revenue streams. As Apple hardware sales face saturation in certain markets, software and services revenue becomes increasingly critical. By monetizing a core utility app like Maps, Apple can capture a slice of the local advertising market, potentially generating billions in annual revenue if the user base engagement remains high.The Privacy Paradox in Location ServicesThe most significant challenge Apple faces with this rollout is the potential erosion of its core brand promise: privacy. Apple has historically differentiated itself from competitors by emphasizing user data protection and the lack of tracking cookies. Introducing ads based on location history and search terms could create a conflict of interest. If users perceive that their location data is being used to serve targeted advertisements, it may undermine the trust that has been carefully cultivated around the Apple ecosystem.Future Outlook: Balancing Revenue and User ExperienceLooking ahead, Apple will need to execute a delicate balancing act. The success of Maps ads will depend heavily on transparency and user control. If Apple can clearly distinguish between organic results and paid placements, and if the ads are genuinely useful rather than intrusive, the transition may be smooth. However, if the ads disrupt the seamless experience of the location history widget or compromise privacy standards, Apple risks alienating its most loyal users. The coming months will be critical in determining whether this revenue strategy strengthens or weakens Apple's position in the tech landscape.

The conflict in Iran has sparked concerns about a potential global food crisis due to a looming shortage of fertiliser, a crucial component in food production. The Strait of Hormuz, a vital shipping route, has been disrupted, impacting the export of fertilisers from Gulf countries.On March 2, Ebrahim Jabari, a senior adviser to the commander-in-chief of Iran's Islamic Revolutionary Guard Corps (IRGC), announced that the Strait of Hormuz was 'closed', causing oil prices to soar above $100 per barrel. However, experts warn that a parallel crisis is emerging - a considerable threat to global food security due to a shortage of fertiliser.Nearly half of the world's traded urea, the most widely used fertiliser, and large volumes of other fertilisers are exported from Gulf countries via the Strait of Hormuz. Recent disruptions to gas supplies and shipping have already forced fertiliser plants in the Gulf and beyond to shut or cut their output.Countries such as India, Brazil, and China are heavily dependent on Gulf fertiliser exports, with India sourcing over 40% of its urea and phosphate fertilisers from the region. A prolonged fertiliser shortage and hike in fertiliser prices could lead to reduced crop yields, affecting food security worldwide.The urea export prices from the Middle East have surged by about 40%, rising from just less than $500 to a little more than $700 per metric tonne. The price is currently close to 60% higher than this time last year.According to one shipping services company, 20% of the world's fertiliser originates in the Gulf, while 46% of global urea supply comes from the Gulf. Qatar Fertiliser Company (QAFCO), considered the world's largest urea supplier, alone supplies 14% of the world's urea.Analysis by Kpler, a data and analytics company, shows that as much as one-third of global fertiliser trade could be disrupted if the closure of the Strait of Hormuz persists. This could lead to nitrogen fertiliser prices doubling and phosphate prices climbing by about 50%.

Nigerian President Bola Tinubu was welcomed by UK's King Charles III at Windsor Castle on Wednesday, marking the first state visit by the leader of Africa's most populous nation in nearly four decades.The visit, which concludes on Thursday, highlights the deep cultural and commercial links between the UK and Nigeria, with trade between the two countries currently at a record high.During the visit, Tinubu and his wife were greeted with artillery salutes and shown items from the UK's colonial rule of Nigeria, which ended in 1960. A lavish state banquet was also held in their honor.The Nigerian presidency described the visit as a 'renewed chapter' in UK-Nigeria relations, reflecting a shared commitment to 'advancing trade and strengthening diplomatic ties'.Tinubu is also expected to meet with British Prime Minister Keir Starmer and members of the Nigerian community in the UK. Notably, the visit went ahead despite a deadly bombing in northeastern Nigeria's Borno State on Monday, which killed 23 people and injured over 100.

The relationship between Iran and African nations has emerged as a significant focal point in international diplomacy, with potential ripple effects that could reshape economic partnerships and political alliances across the continent. While the full extent of these connections remains to be fully explored, analysts suggest that developments in Iran's foreign policy and economic strategies may serve as a harbinger of future engagement models between Middle Eastern powers and African states.As global power dynamics continue to shift, the strategic importance of Africa's natural resources and growing markets has drawn increased attention from various international actors. The evolving relationship between Iran and African nations represents one of the emerging patterns in this complex geopolitical landscape, with potential implications for trade routes, security cooperation, and diplomatic influence in the coming decades.

Real Madrid will host Atletico Madrid at the Santiago Bernabeu on Sunday, March 22, in a highly anticipated La Liga match. The home side aims to stay in touch with league leaders Barcelona, who currently hold a four-point lead and face Rayo Vallecano earlier in the day. If Barcelona wins, Real Madrid will be seven points off the summit. Los Blancos are coming off a strong performance in the Champions League, where they defeated Manchester City 5-1 on aggregate in the last 16. Vinicius Junior scored twice in the second leg, helping his team progress to the quarterfinals. Atletico Madrid, on the other hand, are fourth in La Liga and have a game in hand over third-placed Villarreal. They are also into the last eight of the Champions League and will play Real Sociedad in the Copa del Rey final. Diego Simeone's side are seeking to cause an upset against their city rivals and avenge their 5-2 drubbing in the first league meeting in September. The two teams have a long and intense rivalry, with 242 meetings between them. Real Madrid have won 124 matches, while Atletico have won 60, and 58 games have ended in draws. Atletico are unbeaten in their last six league games against Real Madrid, with four of those games finishing in draws. In terms of team news, Kylian Mbappe is set to start for Real Madrid alongside Vinicius Junior, while goalkeeper Thibault Courtois will be out for about six weeks due to a muscle injury. Andriy Lunin will deputise in goal. For Atletico, goalkeeper Jan Oblak is a major doubt due to a hip problem, and Juan Musso is likely to start between the sticks.