Exxon and Chevron quarterly earnings fall despite soaring oil prices

Exxon Mobil and Chevron reported drops in profit in their first quarter despite surging oil prices, a result of stalled deliveries and supply disruptions in the Middle East.Exxon’s quarterly earnings fell to $4.2bn from about $7.7bn the same quarter last year, a decline of about 46%, while Chevron’s profits fell to $2.2bn from about $3

Firm bookings, fast refunds: easyJet and On The Beach aim to reassure jittery travellers with holiday pledges

Forget the best infinity pool or alluring sea view: travel firms are now competing for the summer holidaymakers’ pound with pledges of the least likely cancellation – or the fastest refund.Airlines and travel companies have been vying to announce fresh commitments to reassure jittery consumers who are booking flights ever later since the start of the US-Israel war on Iran.The hostilities have been driving up oil prices, with jet fuel costs rising even more sharply. More worrying for many thinking of a summer trip, as the standoff and blockades around the strait of Hormuz continue, is the prospect of scarcity leading to flights being axed.Some European airlines such as Lufthansa have already cancelled thousands of flights owing to rising fuel costs, while Virgin Atlantic has introduced a fuel surcharge on long-haul flights

Tim Cook takes victory lap as Apple’s financial results soar past Wall Street expectations

Apple blew past Wall Street expectations in its first earnings report since it announced CEO Tim Cook would be stepping down.Cook shared his thoughts about the leadership transition on Thursday, saying: “There’s no one on this planet I trust more to lead Apple into the future” than incoming CEO John Ternus. Asked by an investor what advice he has given Ternus, Cook said: “Never forget the north star for the company. You know, we’re about making the best products in the world that really enrich other people’s lives.”Ternus spoke briefly, too, praising Cook’s thoughtfulness in financial decision-making and saying: “This is the most exciting time in my 25-year career at Apple to be building products and services

Meta threatens to shut down social networks in New Mexico over child safety court case

Meta has threatened to block access to Instagram, Facebook and WhatsApp in New Mexico, which would be an unprecedented move in its home country. The ultimatum, made in a court filing this week, comes after the company was found liable and fined $375m for child safety failures in a landmark lawsuit brought by the state’s attorney general. The second phase of the suit, known as the remedies phase, is scheduled to begin on Monday and will determine what actions the tech giant is obligated to take in response.Should Meta lose the second phase of trial, which will begin on 4 May, it would be compelled to introduce a series of reforms to its products. The New Mexico department of justice argues these changes would make Meta’s social networks safer for underage users in the state

Naoya Inoue outshines Junto Nakatani in Tokyo showdown to keep super-bantamweight title

Naoya Inoue successfully defended his undisputed super-bantamweight championship with a close but uncontroversial 12-round unanimous decision over Junto Nakatani in their eagerly anticipated showdown at the Tokyo Dome on Saturday night.Before a sellout crowd of about 55,000 spectators during Japan’s Golden Week holiday, Inoue held off a fierce late surge from his unbeaten rival to win by scores of 116-112, 116-112 and 115-113 and retain the WBA, WBC, IBF and WBO belts at 122lb, extending his perfect record in what had been billed as the biggest fight in Japanese boxing history. (The Guardian had it 115-113 for Inoue.)The four-division world champion nicknamed the Monster had spoken during fight week about wanting to “prove that I’m still Naoya Inoue”, perhaps a nod to the whispers of his purported decline. But the 33-year-old showed why he remains one of the world’s best fighters regardless of weight – if not the outright pound-for-pound king – by getting the better of a taller, longer, younger challenger seen as his most dangerous opponent in years

Marta Kostyuk defeats Andreeva in Madrid to claim biggest title of career

Marta Kostyuk took an enormous step towards fulfilling her potential as the Ukrainian closed out an incredible week by winning the biggest title of her career at the Madrid Open, defeating Mirra Andreeva, of Russia, 6-3, 7-5. Although Kostyuk’s run through a WTA 1000 draw was unexpected, this did not come out of nowhere. Kostyuk won her second career WTA event in Rouen just before Madrid and has now put together an 11-match winning streak to rise to a career-high world ranking of 15.This result has been a long time coming. Now 23, she broke through as a 15-year-old, reaching the third round of the Australian Open as a qualifier