Markets stabilise as investors fear ‘adverse shock’ from higher oil prices – business live

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.With the oil price rising again today, as attacks between Israel and Iran continue, economists are warning that the global economy faces an adverse shock, at an already difficult time for growth.Oil prices have risen this morning, up around 1%, as the conflict between the two countries enters a fourth day.Fears of disruption to supplies – a risk, if the Strait of Hormuz was to be closed – are making the oil price volatile. After a 7% surge on Friday, Brent crude is up another 0

UK petrol prices poised to rise as Israel-Iran conflict pushes up cost of oil

Britons are braced for higher prices at the pumps, after a rise in oil prices caused by the conflict between Israel and Iran in recent days.Oil prices climbed again on Monday, as traders worried about the risks of a broader regional military conflict, which could disrupt supplies. Iran is a big oil producer, and accounts for about 3% of global supplies.As the conflict entered its fourth day, Brent crude rose by 0.5% in early trading pushing towards $75 a barrel, while US crude rose by 0

Liverpool is crypto capital of UK, survey finds

The city’s most famous sons may have sung that money can’t buy you love, but that was before bitcoin existed.Liverpool has emerged as the crypto capital of the UK, according to a study looking at the online habits of people across the country.The survey, conducted by telecommunications company Openreach, found that 13% of respondents from Liverpool regularly invest in cryptocurrency and check stocks, more than anywhere else in Britain.Different cities across the UK proved to be hotspots for various activities. London seems to be the online dating capital of Britain, with 24% of respondents saying they engage with dating apps on at least three days a week

UK government rollout of Humphrey AI tool raises fears about reliance on big tech

The government’s artificial intelligence (AI) tool known as Humphrey is based on models from OpenAI, Anthropic and Google, it can be revealed, raising questions about Whitehall’s increasing reliance on big tech.Ministers have staked the future of civil service reform on rolling out AI across the public sector to improve efficiency, with all officials in England and Wales to receive training in the toolkit.However, it is understood the government does not have overarching commercial agreements with the big tech companies on AI and uses a pay-as-you-go model through its existing cloud contracts, allowing it to swap through tools as they improve and become competitive.Critics are concerned about the speed and scale of embedding AI from big tech into the heart of government, especially when there is huge public debate about the technology’s use of copyrighted material.Ministers have been locked in a battle with critics in the House of Lords over whether AI is unfairly being trained on creative material without credit of compensation

Jakob Ingebrigtsen’s father found guilty of hitting his daughter but cleared of abusing Olympic champion

The father of the double Olympic champion Jakob Ingebrigtsen has been found guilty of hitting the Norwegian runner’s younger sister, Ingrid, with a wet towel, and handed a 15-day suspended sentence.However, Gjert Ingebrigtsen, who coached his Jakob to 1500m gold at the Tokyo Games in 2021 before an acrimonious split a year later, was acquitted of charges of physical and verbal abuse against Jakob after a court in Norway found there was “reasonable doubt” about the accusations.Ingrid, who left the family home aged 15 after a series of incidents, was also awarded compensation of 10,000 kroner (£744) by the court.The verdict marks another extraordinary episode in the life of the family that became huge reality TV stars in Norway after the docu-series The Ingebrigtsens, which charted their lives and eccentric nature, became a phenomenon.Prosecutors had called for Gjert to be jailed for two and a half years for what they told the court in the town of Sagnes was a “regime of physical and verbal abuse” towards Jakob and his younger sister, Ingrid, which spanned a decade

‘Gorgeous girl’: Ash Barty announces birth of daughter Jordan

​Retired Australian tennis star Ash Barty has announced the birth of her first daughter, Jordan.Barty and her husband, golf professional Garry Kissick, already have a son, Hayden, born almost two years ago.The former world No 1 and Kissick revealed the arrival of their “gorgeous girl” in a joint Instagram post on Monday.“Welcome to the world, Jordan” the parents said. “You are loved unconditionally and we are so grateful to have you in our arms, gorgeous girl