Stock markets rocked by Trump’s Iran ultimatum, as UK economy faces growth hit – business live

Donald Trump’s threat to ‘obliterate’ Iran’s power plants unless the strait of Hormuz reopens is hitting global stock markets today.A wave of selling is sweeping through Asia-Pacific markets at the start of the week. Japan’s Nikkei has dropped by 3.4% in afternoon trading, China’s CSI 300 has lost 2.8%, and South Korea’s KOSPI index has slumped by 6

HS2 firm says new steel tariffs will ‘exacerbate’ cost pressures for UK construction industry

One of HS2’s biggest contractors has warned the government that raising tariffs on foreign steel imports will “exacerbate” cost pressures for the UK construction industry, amid growing concern over the £100bn railway’s rising budget.Ministers said last week they would double the tariffs on imported steel and slash the amount that can be bought from overseas, in an attempt to save Britain’s struggling steelmakers.However, the move will also raise the cost of the metal, crucial for infrastructure projects such as HS2, at a time when an energy shock from the Iran war is already inflating steel and concrete prices.Mark Reynolds, the chair of the construction company Mace, said that amid the rising energy costs and an already depressed construction sector, the tariffs were “ill-timed and unhelpful and will only exacerbate the challenges” facing the UK industry.Heidi Alexander, the transport secretary, is due to update the Commons on Monday on Labour’s drive to “reset” the cost of HS2 amid concern over its rising price tag

iPhone 17e review: Apple upgrades its cheapest new smartphone

The cheapest new iPhone has been upgraded for this year with a faster chip, double the storage, automatic portraits and MagSafe, providing even more of the core Apple smartphone experience for less.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more.The iPhone 17e is an upgraded version of the mid-range “e” line launched last year with the first iPhone 16e and is the latest member of the iPhone 17 family

Campaign groups rail against Palantir, but the UK contracts keep coming

Palantir’s latest UK contract takes the AI and data analytics company into the heart of one of Britain’s biggest industries: financial services, which accounts for 9% of the economy.The Miami-based company embedded its technology in the NHS in 2023, the police in 2024 and the military in 2025. Land and expand, they say in the tech industry. Palantir has followed the script, building contracts worth more than £500m.Now in 2026, its deal with the Financial Conduct Authority (FCA) to dive into the terabytes of information it gathers gives it yet another unparalleled view of the inner workings of the British authorities

Resilient Korda stuns Alcaraz in Miami Open after almost letting advantage slip

An hour after his first catastrophic attempt at snuffing out the best player in the world, Sebastian Korda stepped up to the baseline to serve for his rollercoaster third-round match against Carlos Alcaraz once again.It would have been reasonable for the American to feel his tension even more profoundly, to collapse even more dramatically, but his determination won through. In front of his home crowd in his home state, Korda kept his head and held his nerve to close out the greatest upset of the ATP season and his career, defeating the top seed Alcaraz 6-3, 5-7, 6-4 in the third round of the Miami Open.This was a seismic upset secured by a supreme performance from Korda, the 32nd seed. For an hour, he played as well as he could

US high school student Cooper Lutkenhaus wins 800m to become youngest ever indoor world champion

US teenager Cooper Lutkenhaus made history on Sunday when he won gold in the 800m to becomes the youngest ever champion at the world indoor athletics championship.The 17-year-old, who took time off from his classes at Northwest High School in Texas to compete at the championships, won gold with a time of 1min, 44.24sec, 0.14 seconds ahead of Belgium’s Eliott Crestan. Mohamed Attaoui of Spain won bronze