Jet fuel crisis worse than Covid for airlines, says AirAsia chief May 7, 2026 The global jet fuel shortage caused by the Iran war has caused a bigger crisis for airlines than the Covid-19 pandemic, the chief of AirAsia has warned. Tony Fernandes, chief executive of AirAsia, said: “I thought I’d seen it all with Covid […] but having seen jet fuel go up almost three times — this is much [...]
IHG: Holiday Inn owner braces for 50 per cent Middle East hit May 7, 2026 Holiday Inn owner IHG expects to see a 50 per cent hit to its operations in the Middle East, as the Iran war wreaks havoc on global travel. Intercontinental Hotels Group said revenue per available room in the Middle East slumped to a 26 per cent year-on-year fall in March, reversing the nine per cent [...]
FTSE 100 banks are facing £2.5bn of headwinds – HSBC and Barclays are in the firing line May 6, 2026 The FTSE 100’s Big Five banks toasted a healthy profit stash in the first-quarter, but, says Samuel Norman, storm clouds are gathering on the horizon for the sector. The London market’s five biggest banks swallowed a bitter cocktail of economic risks in the first three months of the year leaving a bumper cash haul overshadowed [...]
FTSE 100 Live: Stocks jump; oil dips below $100 as Trump says Iran deal close May 6, 2026 Good morning and welcome back to the City AM liveblog. Brent crude dipped below $100 at Wednesday lunchtime after Donald Trump has hailed “great progress” towards a “final agreement” with Iran, prompting a rally in the FTSE, Asian markets and Wall Street. In a sudden reversal late last night, President Trump said he will pause [...]
HSBC profit drops after Iran war and private credit charges bite May 5, 2026 HSBC missed its profit target in the first quarter of the year after the blue-chip lender booked a mammoth credit charge. The FTSE 100 giant – which boasts a huge £230bn market cap – recorded a pre-tax profit of $9.4bn (£6.5bn), missing the $9.6bn pencilled in by analysts. This figure is also down $100m on [...]
FTSE 100 Live: Gilt yields surge over Starmer fears; Intel, Pinterest shares rocket May 5, 2026 Good morning and welcome back to the City AM liveblog. Gilt yields have risen to their highest rate in nearly thirty years, as markets weigh up the prospect of an ousted Keir Starmer and lurch to a more left-wing government that might follow. The yield on 30-year government bonds rose 11 basis points on Tuesday [...]
London hotel occupancy slides as Iran war wreaks travel havoc May 4, 2026 International travel chaos caused by the Iran war is beginning to hit London’s hotels, fresh data has found. The occupancy of London’s hotels fell year on year in March, according to audit firm RSM.Hotel experts attribute the decline to a fall in tourism. Luxury London hotels enjoy a huge amount of custom from Middle Eastern [...]
Wizz air urges Brits to ‘book with confidence’ despite rising fuel fears May 3, 2026 Wizz Air has moved to reassure passengers its summer schedule will run as planned, as concerns mount over potential flight disruption linked to the Middle East conflict. The budget carrier said its operations remain “fully stable and unaffected”, despite warnings from ministers that jet fuel shortages could impact travel during the peak holiday season. A [...]
Petrol retailers vindicated after Reeves ‘profiteering’ claims May 1, 2026 Petrol retailers have been vindicated of “price gouging”, pouring cold water on the government’s accusations of profiteering from the war in Iran. The Competition and Markets Authority (CMA) found that higher fuel prices in the UK were caused by the rising cost of oil, rather than by retailers expanding their margins to profit from the [...]
FTSE 100 Live: Stocks drop amid US-Iran war mixed messaging; House prices up May 1, 2026 Good morning and welcome back to the City AM liveblog. Markets are scrambling for some messaging this morning as tensions around the Iran war drag on. Donald Trump faced a deadline for today whether to formally end the war in Iran or make the case to the US Congress for extending it. But an official [...]