Stagflation fears rise as escalating Iranian war drives up oil price again – business live

Good morning and welcome to our rolling coverage of business, the financial markets and the world economy.Hopes that the market turmoil in the energy market might have abated are fading rapidly today, as Iran escalates its attacks on infrastructure and transport networks across the Gulf.The oil price has jumped after two tankers were set ablaze two tankers in Iraqi waters early this morning, after senior Iranian officials warned of a long “war of attrition” that would threaten chaos in the global economy.There are also reports that Oman’s key oil export terminal has been evacuated.These widespread Iranian attacks on Middle Eastern energy facilities drove Brent crude over the $100 a barrel mark again in early today, hitting $101

John Lewis pays first annual staff bonus in four years as profits rise

The owner of John Lewis and Waitrose has paid an annual bonus to workers for the first time in four years after underlying profits rose by 6%.The retail group’s 69,000 employees – which it calls partners – will receive a bonus of 2% of salary after it recorded an increase in sales and profits.Sales rose 5% to £13.4bn and profits increased to £134m in the year to 31 January, slightly behind expectations in what the chair, Jason Tarry, called “a subdued market”.He said profits had been hit by £40m in additional national insurance contributions and £13m in new packaging levies

Palantir’s NHS England contract ‘opens door to government abuse of power’, health bosses told

Palantir’s NHS contract opens the door to the Big Brother-style data-sharing that Reform UK would use for a version of US immigration raids, health bosses have been told.Palantir Technologies – the data analytics company founded by Peter Thiel and Alex Karp – won a £330m NHS England contract to deliver the Federated Data Platform in 2023.The UK government is urging health bodies to adopt FDP, which the health secretary, Wes Streeting, says will ensure the NHS is “brought into the digital age”.But there are concerns about Palantir, whose AI tools are used in global conflicts, becoming embedded in the UK public sector.A briefing by the health justice charity Medact said the “highly interoperable nature” of Palantir’s software could enable “data-driven state abuses of power”, including US-style ICE raids

‘Devastating blow’: Atlassian lays off 1,600 workers ahead of AI push

Software giant Atlassian has announced it is laying off about 10% of its workforce, or roughly 1,600 positions, and replacing its chief technology officer as it restructures to invest further in artificial intelligence.More than 900 affected positions were involved in software research and development, a spokesperson said. Most of Atlassian’s employees work in software engineering and design, accounting for over 50% of its 13,813 full-time workforce in June 2025.About 640 affected employees are in North America, 480 in Australia and 250 in India, with the remainder spread across Japan, the Philippines, Europe, the Middle East and Africa, according to the spokesperson.The company’s co-founder, Mike Cannon-Brookes, told employees the move was “the right decision for Atlassian” in a note circulated late Wednesday, US time

Rory McIlroy hopes to defend Players Championship despite back injury

Rory McIlroy will make a last‑minute call on Thursday over whether to defend his Players Championship title, with the Northern Irishman still feeling the effects of a weekend back injury. McIlroy will wait until his pre-round range session to determine whether he is fit enough to play.McIlroy arrived here on Wednesday afternoon, having withdrawn shortly before his third round of the Arnold Palmer Invitational. He hit shots for around an hour before walking the back nine with wedge and putter in hand. McIlroy sustained a muscle problem in the gym on Saturday morning, which left him basically inactive for three days

A historic day at Hundred auction but barely any women were there to see it

It’s Piccadilly Circus. It’s candy pink and dayglow green. It’s 19‑year‑old Davina Perrin being bought by the Birmingham Phoenix for £50,000 a couple of years after she has graduated from Ebony Rainford Brent’s ACE programme. It’s the former Leicestershire fast bowler Charles Dagnall in skinny jeans with an iPad and an interactive screen.It’s Hero Players