Time to wrap up…Brent crude, the international benchmark for oil prices, rose by as much as 5% to $118.43 a barrel after Donald Trump told allies to buy US jet fuel or “take it” from the strait of Hormuz.The US president wrote on his social media platform Truth Social:I have a suggestion for you: Number 1, buy from the U.S., we have plenty, and Number 2, build up some delayed courage, go to the Strait, and just TAKE IT.

”UK house prices increased at the fastest rate in almost 18 months in March, although surging mortgage rates amid the Iran war are likely to lead to a market slowdown, according to Nationwide.The UK’s biggest building society said the price of a typical UK home increased by 0.9% month on month in March, the largest increase since December 2024.The increase, which compares with a 0.3% rise recorded in February and is ahead of economists’ expectations of 0.

6% growth, means the average price of a UK home now stands at £277,186.Annual house price growth picked up to 2.2% in March, from 1% in February.Unilever has agreed to combine its food business with US-based McCormick in a $44.8bn deal that will give the Marmite-to-Hellmann’s mayonnaise owner majority control of a food empire.

Under the agreement, McCormick will pay London-listed Unilever $15.7bn in cash and the equivalent of $29.1bn in shares for most of the Anglo-Dutch company’s food arm.Unilever will control 65% of the new spin-off, which will combine brands such as Knorr and Pot Noodle with McCormick’s condiments and spices including French’s mustard, Old Bay seasoning and Cholula hot sauce.However, the combined company will be led by McCormick executives, with senior management representation from the ranks of Unilever’s food business.

The US stock market has opened higher today, with the blue-chip S&P 500 share index rising by 1.2% at the open.The tech heavy Nasdaq composite index is up 1.5%.Meanwhile Brent crude oil is now trading up 5.

2% to $118.6 a barrel, within touching distance of $119.50 a barrel, its previous high since the war in Iran started a month ago.Brent crude, the international benchmark for oil prices, is now up 4% to $117.50 a barrel after Donald Trump told allies to buy US jet fuel or “take it” from the strait of Hormuz.

The US president wrote on his social media platform Truth Social:double quotation markI have a suggestion for you: Number 1, buy from the U,S,, we have plenty, and Number 2, build up some delayed courage, go to the Strait, and just TAKE IT,”Meanwhile US defence secretary Pete Hegseth has told reporters this afternoon that the US military has “more and more options” for the war in Iran,He reiterated Trump’s tirade against allies for not joining the conflict:double quotation markWe will make sure Iran is it knows that very clearly is not just the United States of America problem set.

But it’s not just us.So ultimately, I think other countries should pay attention when the president speaks.He’s proven that when he speaks, he means something.And he’s pointing out, you know, you might might want to start learning how to fight for yourself.It’s something some of us have been saying for quite some time.

You can’t just have flags.You have to have formations.You can’t just have a few ships.You have enough to affect change.Those things matter in a dangerous world with ascendant adversaries.

Unilever, the consumer goods business behind Hellman’s mayonnaise and Horlicks, has sealed the deal to merge its food business with its US rival McCormick.The deal will combine McCormick with Unilever’s food unit, in a move that will create a business worth more than $60bn.Unilever will receive $15.7bn in cash as part of the deal, and the company and its shareholders will control 65% of the new business.The deal will exclude Unilever’s operations in India, Nepal and Portugal; its lifestyle and nutrition business; its Buavita fruit juice business; and its Lipton ready-to-drink business.

Brendan Foley, chairman, president and chief executive at McCormick, said:double quotation markThis transformative combination accelerates McCormick’s strategy and reinforces our continued focus on flavour.The Unilever Foods business is one we have long admired, with a portfolio that complements our existing business, capabilities and long-term vision.Together, we will be better positioned to accelerate growth in attractive categories.This combination will create a diversified flavor leader with a robust growth profile that remains differentiated by its focus on flavoring calories while others compete for them.”Fernando Fernández, chief executive of Unilever, said:double quotation markFor Unilever, this transaction is another decisive step in sharpening our portfolio and accelerating our strategy towards high-growth categories as a €39 billion pureplay HPC company with a proven sector-leading growth profile.

We are unlocking trapped value through a growth-led separation of Foods, creating a scaled, global flavor powerhouse.By combining Unilever Foods’ iconic leading brands and global reach with McCormick’s exceptional portfolio, category expertise and capabilities, we are establishing a focused, high-quality business with significant top line growth and value creation potential.”This is a combination built on strong strategic and cultural alignment, providing exciting opportunities for our people and ensuring our Foods brands continue to thrive as part of a global flavor leader.Our retained ownership stake reflects our conviction in the strength of the combined company and its future prospects.”Trump has singled out the UK in a warning that countries should either buy its jet fuel from the US or “go get your own oil”.

He warned that other countries should “start learning how to fight for yourself” because America “won’t be there to help you anymore”.The US president wrote in a Truth Social post:double quotation markAll of those countries that can’t get jet fuel because of the Strait of Hormuz, like the United Kingdom, which refused to get involved in the decapitation of Iran, I have a suggestion for you: Number 1, buy from the U.S., we have plenty, and Number 2, build up some delayed courage, go to the Strait, and just TAKE IT.You’ll have to start learning how to fight for yourself, the U.

S.A.won’t be there to help you anymore, just like you weren’t there for us.Iran has been, essentially, decimated.The hard part is done.

Go get your own oil! President DJT.The price of Brent crude, the international benchmark for oil, is up 1.86% to $114.88 a barrel today.Microsoft is facing an investigation by the UK’s competition watchdog over its business software ecosystem across Windows, Word, Excel, Teams and Copilot.

The Competition and Markets Authority has said it will launch a strategic market status investigation into Microsoft, starting in May.The regulator, which noted that thousands of UK businesses and public sector organisations use Microsoft software, said it is concerned that the company’s use of software licensing reduces competition in cloud services.It said in a statement that the probe “would also provide a route to ensuring a level playing field among providers at a critical moment, as AI-driven innovation reshapes competition in productivity software”.The CMA added that both Microsoft and Amazon had agreed to set out actions on “cloud egress fees” (charges levied by cloud providers to move data out of their network) and interoperability to support greater choice for businesses and public sector organisations.It believes this will reduce the cost and effort for UK customers when using more than one cloud provider.

Sarah Cardell, chief executive of the CMA, said:double quotation markWe’re using the regime in a flexible, pragmatic way to deliver real impact, as quickly as possible, for UK customers.This announcement shows we’re not just responding to today’s concerns but getting ahead of emerging issues too.Cloud remains central to our approach – we’ve seen real progress through our engagement with Microsoft and Amazon to drive meaningful improvements on egress fees and interoperability and we expect more action from them over the coming months.At the same time, we’re taking action now, deciding to launch an investigation into Microsoft’s business software ecosystem.An SMS designation would enable us to tackle remaining concerns around Microsoft’s licensing practices in cloud and would also enable us to ensure a level playing field as AI is rapidly embedded into everyday business software tools.

Through this package of actions, we’re driving changes across cloud and business software to make sure these markets are competitive and resilient for UK businesses and the public sector,”Over in the US, fuel prices have now surpassed $4 per gallon (£3,03) for the first time in four years, a milestone that is expected to pile more pressure on Donald Trump to find a resolution to the war in Iran,The nationwide average hit about $4,02 on Tuesday, according to data from the AAA, compared with $2.

98 just a month ago.It is now at its highest level since August 2022.Drivers in some states are paying far higher than the national average: in California, drivers are paying an average of $5.89 per gallon.In Washington state, the average is $5.

35.It comes as fears grow around Trump’s handling of the conflict in the Middle East.This morning the City bank Peel Hunt warned that the US president appeared to have “lost control” of the situation.Kallum Pickering, chief economist at the bank, wrote:double quotation markDonald Trump may have lost control of the situation, which makes a quick (unilateral) resolution harder and increases the risk that the Strait of Hormuz remains blocked even once fighting ends.”He added the energy shock “appears to be spreading from west to east – with shutdowns already in place in parts of Asia and Australia.

If Europe is next, this will amplify global recession fears.”It now costs £100 to fill up a typical 55-litre family car, as the crisis in Iran drives up fuel prices in the UK.The average price of a litre of diesel at UK forecourts on Tuesday was 182.77p, according to the services company the RAC.That is 28% higher compared with before the war began, at 142.

4p on February 28 before the war began.Average petrol prices are now at 152.83p per litre, a rise of 15% from 132.8p over the same period.Simon Williams, head of policy at the RAC, said:double quotation markDiesel has now climbed to an average of 182.

77p a litre which means the cost of filling a typical 55-litre family car has breached £100 (£100.52) for the first time since early December 2022.With petrol now at 152.83p, a full tank is setting drivers back £84.Unleaded has increased 20p a litre since the start of the conflict and diesel by 40p, making a full tank £11 and £22 more expensive respectively.

Separate analysis from the RAC Foundation suggests that drivers in the UK are facing more than £500m in higher fuel prices due to the oil crisis.It estimated that pressure on pump prices since February 28 has already led to drivers paying an extra £544m in petrol and diesel (made up of £409m for diesel and £135m for petrol).Steve Gooding, director of the RAC Foundation, said:double quotation markThe pump price premium paid by drivers since the war started now totals well north of half a billion pounds and is currently rising by about £37 million a day.At this rate the war will have cost motorists at least a billion pounds at the forecourt within the next couple of weeks.He added that three-quarters of the “war premium” is paid by diesel drivers, partly because more diesel than petrol is sold in the UK