Fertiliser shortages to have dramatic effect on food prices, says Duke of Westminster’s firm

Fertiliser shortages caused by the Iran war have driven up costs for UK farmers by up to 70% and will have a “dramatic” impact on food prices globally next year, according to one of Britain’s most powerful property and farming companies.Mark Preston, executive trustee of the 349-year-old Grosvenor Group, controlled by the Duke of Westminster, said fertiliser “was already quite expensive” before the 50% to 70% surge in prices since the start of the Iran war in late February.The effective closure of the strait of Hormuz – which Iran’s Islamic Revolutionary Guard Corps said on Wednesday could soon reopen – has throttled global supplies of fertiliser, crucial to growing food crops.Preston said that, although UK crops were unlikely to be affected this year as most fertiliser had already been used, the knock-on effect could arrive next year. “Farmers are not buying that fertiliser, they’re sitting on their hands and hoping things will improve, which they probably won’t,” he said

JD Sports says Iran war could hit consumer spending and raise prices

The sports fashion retailer JD has warned that profits will fall this year amid a “muted market” hit by weaker spending by young people and concerns about the Middle East conflict.The company, which runs 4,800 stores worldwide including the JD, Blacks and Millets chains in the UK, said it expected profits of between £750m and £850m in the year ahead, after reporting £852m in the year to the end of January.JD said there had been “no material business impact to date” from the conflict in the Middle East, where it operates a small number of stores through franchise agreements.However, it said that the Iran war could push up costs and prices. It said: “Over time, the potential future impacts of heightened uncertainty may contribute to direct cost pressures, including energy and fuel costs across our store and logistics networks, respectively, as well as potential indirect impacts on pricing and consumer demand should input cost inflation emerge

Climate campaigners attack Shell over ‘windfall’ profits from Iran war

Shell has reported better than expected profits of $6.9bn (£5bn) after its oil traders reaped the benefits of soaring energy prices during the war in Iran, angering climate campaigners.Europe’s biggest oil and gas company posted a 115% jump in first-quarter profits from the $3.2bn reported in the last three months of 2025.The profits easily surpassed the $6

Cut UK speed limits to reduce Iran war impact on consumers, thinktank urges

Britain should lower speed limits for drivers as part of a package of measures to reduce the impact of the Iran war on consumers, a thinktank has said.Capping legal speeds at 20mph in towns and cities and 60mph on motorways would help reduce fuel demand and combat soaring oil prices triggered by conflict, according to the Institute for Public Policy Research (IPPR).The institute said ministers should also temporarily cut fuel duty by 10p and bring in a new energy price cap of £2,000 a year to support consumers, while warning that inflation could peak as high as 5.8% if nothing is done to prevent it.“The UK cannot afford to sit back and let another energy shock drive up inflation and damage the economy,” said William Ellis, a senior economist at the IPPR

Oil prices fall as Trump says strait of Hormuz ‘open to all’ if Iran accepts deal

Oil prices fell and stock markets rose as Donald Trump said the war with Iran would end and the strait of Hormuz would be “open to all” if Tehran struck a deal with Washington.The US president posted on social media: “Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran.”However, he added that if Iran did not strike a deal, “the bombing starts” and “it will be, sadly, at a much higher level and intensity than it was before”.It came after the president said he would briefly pause his “Project Freedom” operation escorting ships through the strait, which carries about a fifth of the world’s oil supplies but has been blockaded by Iran since late February, triggering a global energy crisis.Trump said he was stopping the operation for “a short period” so he could finalise a deal with Tehran but added that his blockade of Iranian ports would remain in place

Trainline says Middle East tensions hitting European rail bookings

Trainline has said the US standoff with Iran is hitting its revenues, with rail ticket sales to foreign visitors to Europe affected.The UK-based international ticketing agent said it expected revenues to stay flat or decline over the coming year, citing “the effects of geopolitical tensions in the Middle East on inbound air traffic into Europe”.Airlines have reported later bookings, with considerable consumer uncertainty around summer travel plans. The US-Israel war on Iran, closure of the strait of Hormuz and subsequent blockades have raised doubts about global jet fuel supply, with carriers already beginning to cancel thousands of flights.Shares in the company fell on its earnings guidance, with Middle East tensions adding to Trainline’s prior warnings of headwinds, including UK ticketing policy

Norwegian government attacked over decision to reopen North Sea gasfields

The Norwegian government has been heavily criticised for approving plans to reopen three North Sea gasfields nearly three decades after they were closed to help fill the gap in energy supplies created by the Middle East war.Amid sharp price rises in oil and gas since the US and Israel’s attack on Iran in February, Oslo has also given its approval for oil and gas companies to explore in 70 new locations in the North Sea, Barents Sea and Norwegian Sea.The decision by the Labour-run government goes against the advice of the country’s environment agency and has infuriated left-leaning parties.“We live in troubled times,” the prime minister, Jonas Gahr Støre, said as he announced the decision, which would “create great value for the community, lay the foundation for good jobs throughout the country, ensure our common welfare and contribute to Europe’s energy security and safety”.The Albuskjell, Vest Ekofisk and Tommeliten Gamma gasfields in the North Sea were closed in 1998

In this budget, all eyes are on CGT. But Labor’s rumoured family trust tweaks might also help fight tax inequality | Greg Jericho

When it comes to how wealth and high income is taxed in this country, it is not hard to agree with F Scott Fitzgerald’s line that “the rich are different from you and me”.The difference between the rich and the rest is abundantly clear when you look at how most people make money. Whereas most of us get money from salary and wages, those who earn $1m or more a year generate most of their income through capital gains, dividends and partnerships and trusts:If the graph does not display click hereUnsurprisingly, the way millionaires make money makes it much easier to avoid tax – whether through the current 50% capital gains tax (CGT) discount or the complex tax arrangements of trusts.But the government finally seems ready to address the gross inequality in the tax system. As I wrote two weeks ago, the strong rumour is that the CGT 50% discount will be abolished and replaced with the pre-1999 system of only taxing real gain

Oil and gas prices fall sharply, driven by hopes of strait of Hormuz reopening – as it happened

Brent crude keeps falling amid hopes that the strait of Hormuz could soon be open again. The global benchmark has slid to $97.48 a barrel, down $12 a barrel – a near-11% drop, the lowest since 22 April.US West Texas intermediate crude fell 11.3% to $90

Up to 150 former WH Smith stores face closure, putting thousands of jobs at risk

Up to 150 former WH Smith stores are likely to close, putting thousands of jobs at risk under a radical restructuring plan by their new owner, which had rebranded the shops as TG Jones.The investment company Modella Capital, which bought WH Smith’s chain of 480 high street stores for £76m last year, blamed “weak consumer spending” as it set out the plan to landlords on Wednesday.Eight of the chain’s remaining 450 stores will close immediately, while Modella is demanding 100% rent holidays on about 100 more, as first reported by the Telegraph.The company also wants 75% rent reductions on hundreds more stores for a year, with cuts of between 15% and 75% beyond that period, according to a document seen by the Guardian. If landlords refuse the rent holidays and cuts, the stores could shut

Airlines among companies using fuel surcharges to cover surge in costs, UK survey shows

Airlines and other companies are increasingly using fuel surcharges to cover soaring costs, a survey has found, in a further sign of Iran war-linked inflation hitting the economy.A poll of companies in the services sector, which includes airlines, found rising fuel prices had contributed to businesses raising prices at the fastest pace in more than three years in April.Nearly six in 10 firms surveyed by S&P Global said average costs rose last month, mostly driven by fuel and higher wages, but also in part by metals and plastics getting more expensive.IAG, the conglomerate that owns British Airways, Iberia, Aer Lingus and Vueling, said last month it would make “some pricing adjustments to reflect these higher fuel costs”, although it stopped short of labelling the move as a surcharge.Meanwhile, Virgin Atlantic has added a charge of £360 to business class tickets, falling to £50 for economy

JD Wetherspoon issues third profit warning this year as costs climb

The boss of JD Wetherspoon has said the pub chain could miss profit expectations because of rising costs, in the latest sign the UK hospitality industry is buckling under the pressure of higher energy, food, labour and tax bills.The company’s chair, Tim Martin, told investors on Wednesday: “As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs.”It is the third profit warning this year from the company, which operates about 800 pubs across the UK and Ireland. Investors had already been expecting a drop in pre-tax profit to £73m, compared with £81m last year.Pubs, restaurants and hotels have said rising costs are making it harder to make a profit

Thoran and chaat: Romy Gill’s Indian-style asparagus recipes

Spring’s first asparagus always feels like a celebration, but there’s so much more to cooking those spears than just butter and lemon. Here, those tender stems combine with bold Indian flavours in two playful dishes. The thoran, inspired by Keralan home cooking, involves stir-frying asparagus with coconut, mustard seeds and curry leaves to create something warm and comforting (my friend Simi’s mum always used to drizzle it with a little lemon juice to give the flavours a lift). The chaat, meanwhile, tossed with tangy tamarind, yoghurt, spices, crunchy chickpeas and sweet pomegranate, is a delicious snack or side. Together, they show how versatile asparagus can be: easy to cook, vibrant and moreish even in unexpected culinary traditions

Australian supermarket sauerkraut taste test: one is ‘like eating the smell of McDonald’s pickle’

It’s ‘Gut Coachella’ for Nicholas Jordan and friends, who blind taste a line-up of 20 shredded and fermented cabbage productsIf you value our independent journalism, we hope you’ll consider supporting us todayGet our weekend culture and lifestyle emailI cannot tell you how many times I’ve been introduced to a fatty, salty hunk of meat and thought, “my god, I’m going to need a pickle”. I feel the same eating cheese toasties or deli sandwiches with rich mayo-based sauces. Where is the pickle, hot sauce, citrus or ferment? Even the most savoury, juicy slab of umami is a bit much without acidity to balance it.What is the point of sauerkraut without acidity? It’s just wet, salty cabbage, and what is that for, other than deflating my spirits and inflating my gastrointestinal system? Sauerkraut should be sour; it’s the hallmark of the very thing that created it – fermentation.Why am I saying all this? After eight friends and I tasted 21 supermarket sauerkrauts, I was shocked to find some lacked not just acidity but any vigour at all

Fears for spears: how to cook asparagus without blanching | Kitchen aide

I always blanch asparagus, but how else can I cook it?Joe, via email“Blanching captures that green, verdant nature of asparagus so well, and saves its minerality, too,” agrees Bart Stratfold of Timberyard in Edinburgh, but when the season is going full tilt, it’s just common sense to expand our horizons. For Billy Stock, chef/owner of the Wellington in Margate, that means salads, especially with spears that are really fresh: “Use a peeler to shave thin strips off the raw asparagus, and use them in a delicious variation on salade Niçoise.”Another approach would be the grill, Stratfold says: “Coat the spears in rapeseed oil, then grill on an excruciatingly high heat for just a few seconds, until they develop some char.” After that, he rolls them in a tray of vinegar or preserves: “At the restaurant, that’s usually sweet pickled elderflower and elderflower vinegar.”Joe could even abandon the kitchen altogether

Georgina Hayden’s quick and easy recipe for spanakopita orzo | Quick and easy

For me, it isn’t really spring until the first May bank holiday; the days are longer, the flowers are out, and an abundance of green graces our shelves. This spanakopita orzo is a celebration of all things light, bright and spring. It’s a great weeknight dinner that will instantly transport you to Greece.This dish should be oozy, like a good risotto, so if your orzo absorbs all the stock, add a little more hot water to give it that requisite creamy finish.Prep 15 minCook 25 min Serves 425g butter 2 tbsp extra-virgin olive oil, plus extra to serve1 bunch spring onions, trimmed and sliced2 garlic cloves, peeled and finely sliced220g baby leaf spinach, chopped1

Spring soup and bean and cheese quesadillas: Thomasina Miers’ Mexican-inspired seasonal recipes

I have always loved the evident (though not proven) link between how foodie a country is and its love of soups. In Mexico, where nose-to-tail eating is a given, broths maintain a steadying presence in any self-respecting cantina, and soups are commonplace on most menus. We don’t eat a crazy amount of meat at home, but having homemade stock in the freezer is an ingenious fast track to flavour and goodness. Here, whether your stock is chicken or vegetable, homemade or shop-bought, the joy is in the gentle spicing, a scattering of herbs, zingy tomatillos and some lovely spring leaves.There are so many different herbs in Mexico that are impossible to find here, so I’ve used bundles of more common soft herbs to try to capture the lovely breadth of flavour in this soup

How to make the perfect Spanish broad bean stew – recipe | Felicity Cloake's How to make the perfect …

I always feel sorry for broad beans, the lumpy cousin perpetually overshadowed by the charms of slender, elegant asparagus and sweet, bouncy, little peas. They’re in season at roughly the same time, but asparagus in particular gets all the glory, perhaps because so many of us are scarred by childhood experiences of large, grey wrinkly beans served in a floury white sauce (my own parents are so averse to the things that I vividly remember the first time I came across them on a Sunday roast as a teenager and had to ask a friend what they were).The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more

‘We don’t want to make the same mistakes’: Jamie’s Italian reopens in London

Jamie Oliver’s head of restaurants is optimistic about new recipe of smaller site, slimmed-down menu and no burgersWhen Jamie’s Italian crashed and burned in 2019, with the company in £83m of debt and causing 1,000 job losses, no one imagined the celebrity chef would try again.But seven years later, Jamie Oliver has opened a flagship site under the same name in Leicester Square in central London, and believes he has a new recipe for success: a smaller restaurant with a slimmed-down menu, which features cheaper cuts of meat and no burgers.At its peak the chain, which opened in 2008, had 47 UK restaurants. Now it just has the one.Ed Loftus, the global director of Jamie Oliver Restaurants, has worked with Oliver for 20 years and is charged with making the reopening a success

Willy’s, Margate, Kent: ‘It chortles in the face of small plates’ – restaurant review | Grace Dent on restaurants

This cute and jovial eatery is reason enough to make a break for the coastAs summer looms, and with it the urge to stampede towards the edges of Britain in search of paddling opportunities, I proffer another coastal dining idea: Willy’s in Margate – and, yes, that name does have about it something of the naughty seaside postcard. Tucked away in the back of Margate House hotel on Dalby Square, a few minutes’ walk from the seafront, Willy’s is a blur of frilly red-and-pink seaside adorableness. It’s cool, cute and jovial, with pork scratchings and apple chutney on the menu, as well as black pudding scotch eggs, sticky toffee pudding and Sunday lunches of beef rump and baked cauliflower cheese. This menu is short, intentional and hearty, rather than airy-fairy, and it chortles in the face of small plates.But, for the foodie/sippy crowd, the signifiers are all here: there’s a paper plane and a penicillin on the cocktail menu, throwbacks to New York’s iconic Milk and Honey bar

Helen Goh’s springtime spinach sponge cake with cream cheese icing – recipe | The sweet spot

There is a particular green that belongs to spring: pale and luminous, it’s softer than the dark foliage of winter, and quieter than the glossy abundance of summer herbs. Spinach, the colour of new growth, captures this moment perfectly. Tender and almost impossibly vivid, this cake loses its metallic edge in the heat of the oven, leaving a gentle, vegetal brightness. Baked in a shallow tin and spread with cream cheese icing, when sliced into squares, it produces the perfect ratio of cake to icing and tastes uncommonly good.Prep 10 min Cook 50 min serves 8-10For the cake120g baby leaf spinach, stems removed 120ml milk 200g plain flour 1½ tsp baking powder ¼ tsp bicarbonate of soda (baking soda) ¼ tsp fine sea salt 3 large eggs, at room temperature180g caster sugar Finely grated zest of 1 lime 120ml solid coconut oil, melted and cooled to tepid1 tsp vanilla extractFor the icing200g cream cheese 100g icing sugar, sifted Finely grated zest of 1 lime, plus 1 tsp juice80ml double creamLine the base and sides of a standard 23cm x 33cm x 5cm baking tin and heat the oven to 185C (165C fan)/360F/gas 4½

Why we care so much about preserving family recipes

“Chicken, leek, flour, a few more ingredients.” That was it: my grandma’s WhatsApp response to me earnestly asking if she’d mind sharing her time-honoured chicken pie recipe. She wasn’t being obtuse – well, not deliberately. She had simply never before committed a dish that was second nature to paper, let alone an iPhone screen.It wasn’t how she’d learned it and it wasn’t how I’d go on to learn it, either

When it comes to wines, it pays to look beyond the fashionable

The sommelier Honey Spencer, of Sune in east London, struck a real chord on Instagram earlier this year: “I’m so fucking sick of expensive wine,” she lamented. There followed an angry plaint about the “unrelenting rise” in the cost of bottles from “artisans making wine properly … and FORGET BURGUNDY”. In a difficult climate, this is “one of the hardest pills to swallow” for the restaurateur.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link

Rachel Roddy’s recipe for spaghetti with crab, chilli, herbs and lemon | A kitchen in Rome

My copy of the River Cafe Cookbook is silver, having lost its original blue sleeve some years ago. Naked, the hardback cover is completely plain, so it is my handwriting of “River Cafe blue” along the metallic spine, even though there is little chance of mixing it up with the yellow softback River Cafe Cookbook Two or the emerald cover of River Cafe Cookbook Green.Blue was first published in 1996, a sobering fact, because that’s the same year I enrolled at the Drama Centre London, as well as the year when Pierce Brosnan took on rogue agent Alec Trevelyan (played by Sean Bean) in GoldenEye. That was Brosnan’s debut as James Bond and Dame Judi Dench’s first appearance as M. Brosnan trained at Drama Centre between 1973 and 1976, which is why, when I bought the blue book in 1996, I had good reason to imagine my future career as looking a little like that of Pierce, or Judi, or both