US Postal Service to introduce 8% fuel surcharge on packages
The US Postal Service (USPS) plans to introduce its first-ever fuel surcharge on packages to offset rising energy costs, according to a statement.The surcharge, set at 8%, is expected to take effect on 26 April and remain in place until 17 January 2027, under the current plan.Packages under Priority Mail Express, Priority Mail, USPS Ground Advantage and Parcel Select will be affected by the surcharge.“Transportation costs have been increasing, and our competitors have reacted with a number of surcharges,” reads the statement by the USPS.“We have steadfastly avoided surcharges and this charge is less than one-third of what our competitors charge for fuel alone, so even with this change, the Postal Service continues to offer great value in shipping with some of the lowest rates in the industrialized world.
”Oil prices have jumped dramatically since the US and Israel attacked Iran on 28 February, with the cost of crude oil per barrel up by as much as 40% since the beginning of 2026,The average price per gallon for diesel gas in the US is now $5,37, up from $3,75 one month prior,Democrats were quick to voice their concern.
“Groceries.Gas.Now packages.Is there anything Donald Trump hasn’t made more expensive? Call it what it is: the Trump Mail Tax,” said JB Pritzker, the governor of Illinois, in a post on social media.“Trump has messed up on affordability so badly that he’s even managed to make the mail more expensive,” the US senator Raphael Warnock said in a post.
Rising fuel costs are just the latest financial obstacle to hit the struggling postal service.Earlier this month, the postmaster general, David Steiner, said the agency is poised to run out of funds within the next year unless Congress changes how much money the USPS is allowed to borrow.“Less than a year from now, the Postal Service will be unable to deliver the mail if we maintain the status quo,” Steiner told lawmakers.
Crispin Odey tried to ‘manipulate’ sexual assault victim, FCA tells court
The financial watchdog has accused the former hedge fund manager Crispin Odey of attempting to “manipulate” a victim of sexual assault into silence.Odey texted his former employee, whose breasts he had groped, a warning in 2022 that the Financial Conduct Authority could question her about him.He said the regulator was “using” her to further its “vendetta” against him and his hedge fund, Odey Asset Management (OAM).The 67-year-old has previously accepted that he groped the woman without her consent in 2005, which he said happened while he was under the influence of sedatives after a root canal treatment.Odey, who faces a number of sexual harassment allegations, sent the woman a text in January 2022 saying the regulator would use her “to show that there were no controls and you were in fear of my position in the company which stopped you from speaking out”, according to evidence provided by the FCA at a court hearing on Wednesday
Iran war threatens to delay large offshore wind projects in EU and UK
A string of large offshore wind projects in Europe are facing potential delays as the Iran war threatens to disrupt shipping of crucial parts manufactured in the Gulf.Industry sources are concerned that components ordered from suppliers in the United Arab Emirates could become trapped if shipping remains effectively blocked through the strait of Hormuz.Iran’s chokehold on the crucial trade route has upended oil and gas deliveries from the Middle East. Sources fear contingency plans may have to be put into action to avoid delays to clean energy projects too.These include two giant offshore windfarms planned for UK waters, as well as a series of projects that will supply offshore wind power to Germany and the Netherlands
ECB could raise eurozone rates ‘as soon as next month’; oil price dips on peace talk hopes – as it happened
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Inflation in the UK was unchanged last month, as expected – before the Iran war drove up global energy costs, threatening a renewed price jump.Official figures showed the consumer prices index (CPI) stayed at an annual rate of 3% in February, the same as in January. Economists had expected it to stay at 3%.Clothing made the largest upward contribution to the monthly change while motor fuels made the largest, offsetting downward contribution, the Office for National Statistics said
Europe could face fuel shortage by April as Iran throttles supplies, says Shell boss
Europe could face a shortage of energy and fuel as soon as next month without a reopening of the strait of Hormuz, Shell’s chief executive has said.The boss of Europe’s biggest oil company said it was working with governments to help them address the oil and gas supply crisis, which has already led to energy rationing in Asian countries.Oil prices dipped back to about $100 a barrel on Wednesday from highs of about $114 at the start of the week, on the back of reports that the White House had sent a 15-point peace plan to Iran’s leaders.However, without a return of crude deliveries from the Gulf to global buyers via the crucial Hormuz channel, Europe could face shortages of fossil fuels within weeks, according to Wael Sawan.The Shell chief executive told an oil industry conference in Texas: “South Asia was first to get that brunt
Estate of Mike Lynch ordered to pay £920m to Hewlett Packard Enterprise
The estate of the late British tech tycoon Mike Lynch has been ordered to pay £920m to the technology company Hewlett Packard Enterprise (HPE) two years after he died in a superyacht disaster.The ruling by London’s high court said the estate was liable to pay the sum as compensation, costs and interest for the acquisition of Lynch’s firm Autonomy by Hewlett-Packard (HP), after a UK legal ruling in 2022 that he duped the US company into paying £8.2bn for the software firm.HP split into two separate companies in 2015 – one still called HP, which focuses on printers and PCs, and the software and hardware company HPE.The deceased entrepreneur’s estate has been estimated to be worth about £500m, so the damages could leave it bankrupt
UK pet owners: we would like to hear about your experience of vet bills
The UK’s competition watchdog has ordered vets to cap prescription fees at £21 and proposed a cost-comparison website.The Competition and Markets Authority (CMA) said public satisfaction with the cost of services was “low” after a two-and-a-half-year investigation that found “there is not strong competition between veterinary businesses”.It said vets must now tell pet owners that medicines may be cheaper online, and let them know they can get a prescription and that this could save them money.We would like to hear from UK pet owners about their experience of vet bills. Did your vet bill come as a surprise, or was it as expected? How did you manage the cost? Tell us
No escape from the energy shock for UK business. A long-term strategy is still essential | Nils Pratley
Stocks rise and oil dips on hopes of 15-point Iran peace plan
UK iPhone users face over-18 age check to use services after update
What are the rules on cryptocurrency donations to UK political parties?
US runners led off course in chaotic half-marathon given entry to world championships
Lily James, Andy Murray and a million Britons: padel’s rise nears milestone