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From oil giants to banks - these companies are making billions from Iran war

From oil giants to banks - these companies are making billions from Iran war

May 08, 2026 • BBC World

Summary

The war involving Iran has caused energy prices to rise sharply, benefiting some companies with big profits. Oil companies, banks, and defense firms have all earned more money because of the conflict and the resulting market changes.

Key Facts

  • The war disrupted oil and gas shipments through the Strait of Hormuz, pushing up energy prices.
  • European oil companies like BP, Shell, and TotalEnergies reported large profit increases in early 2026.
  • US oil companies ExxonMobil and Chevron had lower earnings than last year but still beat profit forecasts.
  • Major banks including JP Morgan, Bank of America, and Goldman Sachs saw profits rise due to increased trading.
  • JP Morgan’s trading division earned a record $11.6 billion in the first quarter of 2026.
  • Investors increased trading activity because of market uncertainty caused by the war.
  • Defense companies experienced higher demand as governments invested in missile defense and military equipment.
  • BAE Systems expects strong sales and profits due to the growth in security threats worldwide.
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BBC World BBC Business BBC Top Stories
Archibald prize 2026: Richard Lewer portrait of artist Iluwanti Ken wins $100,000

Archibald prize 2026: Richard Lewer portrait of artist Iluwanti Ken wins $100,000

May 08, 2026 • Guardian World

Summary

Richard Lewer won the 2026 Archibald prize, a $100,000 award, for his portrait of Iluwanti Ken, a Pitjantjatjara elder and artist. The prize is given each year to the best portrait of a notable Australian, selected from over 1,000 entries and judged by the Art Gallery of New South Wales’ trustees.

Key Facts

  • Richard Lewer is a New Zealand-born artist based in Melbourne.
  • His winning portrait features Iluwanti Ken, a traditional healer and senior artist from South Australia.
  • The Archibald prize has been awarded annually since 1921 for portraits of important Australians in art, letters, science, or politics.
  • The 2026 prize had 1,034 entries, with 59 finalists shortlisted.
  • Other finalists included portraits of musicians, actors, and journalists like Daniel Johns and Virginia Trioli.
  • The Wynne prize for landscape and figurative sculpture, worth $50,000, was awarded to Gaypalani Waṉambi for The Waṉambi tree.
  • The Sulman prize, of $40,000 for genre and subject painting, went to Lucy Culliton for her painting of a greyhound named Toolah.
  • The prizes were presented at the Art Gallery of New South Wales.
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Guardian World
Oil prices rise after US and Iran exchange fire in Hormuz strait

Oil prices rise after US and Iran exchange fire in Hormuz strait

May 08, 2026 • BBC Business

Summary

Oil prices increased after the US and Iran exchanged fire in the Strait of Hormuz, a vital waterway for global oil shipments. The US military said it responded to attacks by Iran while its ships were leaving the area, raising concerns about regional security and oil supply.

Key Facts

  • The US and Iran exchanged fire in the Strait of Hormuz, a key route for world oil shipments.
  • The US military described the Iranian attacks as "unprovoked" and used self-defense strikes in response.
  • Brent crude oil prices rose by 2.3% to $102.40 per barrel, and US crude rose 2.1% to $96.80 per barrel after the incident.
  • President Donald Trump extended a ceasefire with Iran on April 21 to allow more time for peace talks.
  • The US and Israel attacked Iran starting February 28, triggering the ongoing conflict.
  • Iran threatened to attack ships passing through the Strait of Hormuz in response to the strikes.
  • More than 20% of the world’s oil and gas shipments pass through this waterway, making it very important for energy supply.
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BBC Business BBC Top Stories BBC World
‘28 Years Later: The Bone Temple’ Director Reveals True Reason it Flopped

‘28 Years Later: The Bone Temple’ Director Reveals True Reason it Flopped

May 07, 2026 • Newsweek

Summary

The movie "28 Years Later: The Bone Temple," released in January 2026, earned only $58 million worldwide, much less than its predecessor "28 Years Later," which made $151 million. The director, Nia DaCosta, said the movie's poor performance was mainly because people were confused about it being a sequel so soon after the first film.

Key Facts

  • "28 Years Later: The Bone Temple" came out six months after "28 Years Later," causing audience confusion.
  • The sequel made about $58 million globally, roughly a third of the original film’s $151 million earnings.
  • Director Nia DaCosta blamed marketing and scheduling for the low box office results.
  • Despite the low earnings, the sequel has a 92% positive score on Rotten Tomatoes, higher than the previous film’s 88%.
  • Sony planned to decide on making a third film based on the success of this sequel, but the poor box office puts that in doubt.
  • The film’s ending hints at a third installment featuring character Jim, played by Cillian Murphy.
  • Screenwriter Alex Garland is busy directing the movie "Elden Ring," scheduled for 2028.
  • Cillian Murphy has expressed interest in completing the trilogy.
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Newsweek
Inside The Fast-Tracked FDA

Inside The Fast-Tracked FDA

May 07, 2026 • Newsweek

Summary

The West Health Accelerator launched as a partnership between West Health and the American Hospital Association to help hospitals use existing health technology more effectively. The program focuses on improving electronic health records, virtual care, and artificial intelligence in healthcare, aiming to turn pilot projects into widespread use despite challenges in decision-making and coordination.

Key Facts

  • The West Health Accelerator is a collaboration between West Health and the American Hospital Association.
  • It aims to close the gap between health care innovation and actual use in hospitals.
  • The focus areas are electronic health records (EHR) optimization, virtual care, and AI implementation.
  • The program uses beacon sites to test ideas and support from companies like Epic.
  • Many health system leaders find changing processes slow and difficult due to competing priorities and fragmented management.
  • Leaders tend to prefer small, safe improvements rather than shared risks in big changes.
  • The Accelerator encourages hospitals to work together and learn from each other's experiences.
  • Hospitals can get involved by visiting nationalaccelerator.org.
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Newsweek
Increasing number or employers seek job candidates with AI skills, survey finds

Increasing number or employers seek job candidates with AI skills, survey finds

May 07, 2026 • CBS News

Summary

More employers are looking for job candidates who have skills in artificial intelligence (AI). A survey found that 80% of hiring managers see AI skills as important for jobs in 2025.

Key Facts

  • 80% of hiring managers say AI skills will be a priority in 2025.
  • The data comes from research by Resume Genius.
  • Jobs are changing because of the growing use of AI technology.
  • Workers familiar with AI have better chances to be hired.
  • The article was reported by CBS News MoneyWatch.
  • AI stands for artificial intelligence, which means computers doing tasks that usually need human thinking.
  • More companies want employees who understand and can use AI tools.
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CBS News
Health Systems Rethink Brand Identity Amid Rising Patient Expectations

Health Systems Rethink Brand Identity Amid Rising Patient Expectations

May 07, 2026 • Newsweek

Summary

Health care systems are rethinking how they present themselves to patients to better meet rising expectations. Patients want not only excellent medical care but also a smoother, more personal experience throughout their visits.

Key Facts

  • Health systems are focusing on their brand identity to connect better with patients.
  • Patients expect simple and smooth experiences, but often face complexity like repeating personal information.
  • Small issues like billing errors or parking problems can negatively affect the patient experience.
  • Providing high-quality medical care is essential but not enough; patients want the whole experience to feel caring and personalized.
  • Health care providers are learning from other industries, like hotels, to improve patient interactions.
  • The goal is to make patients feel comfortable and confident about their care choice.
  • A recent webinar discussed these challenges and ways to create stronger health care brands.
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Newsweek
Trade court strikes down Trump 10% universal tariffs

Trade court strikes down Trump 10% universal tariffs

May 07, 2026 • Axios

Summary

A U.S. trade court ruled that President Trump's latest 10% tariffs are illegal because the law does not give him unlimited power to impose them. However, the tariffs will likely stay while the administration appeals and may be replaced by new tariffs before they expire in July.

Key Facts

  • The Court of International Trade said President Trump’s use of a 1974 trade law to impose 10% tariffs was not allowed.
  • These tariffs were created after the Supreme Court struck down earlier tariffs in February.
  • The law allows temporary tariffs up to 15% for up to 150 days to fix serious balance-of-payments problems.
  • The court said the president cannot decide too broadly what counts as a balance-of-payments deficit to impose tariffs anytime.
  • Small businesses challenged the tariffs, arguing they harm their operations.
  • Most state attorneys general were dismissed from the case because their harm was too indirect.
  • The administration plans to appeal the ruling and may use other trade tools (Section 301 investigations).
  • The current tariffs expire in July, but new tariffs might be put in place before then.
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Axios
An 'accidental' chef traces her unlikely journey into the culinary world in new memoir

An 'accidental' chef traces her unlikely journey into the culinary world in new memoir

May 07, 2026 • PBS NewsHour

Summary

Brigid Washington wrote a memoir called "Salt, Sweat & Steam" that tells the story of her unexpected path into cooking. The book focuses on her experiences with loss, uncertainty, and finding her identity through food.

Key Facts

  • The memoir is titled "Salt, Sweat & Steam."
  • Brigid Washington shares her journey to becoming a chef.
  • Her story includes themes of loss and uncertainty.
  • The book explores questions about her identity.
  • Food is shown as a way to survive and express culture.
  • Geoff Bennett interviewed Washington about her book.
  • The conversation was part of a series called CANVAS focused on arts and culture.
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PBS NewsHour
Trump gives EU until 4 July to ratify trade deal or face ‘much higher’ tariffs

Trump gives EU until 4 July to ratify trade deal or face ‘much higher’ tariffs

May 07, 2026 • Guardian World

Summary

President Donald Trump said the European Union (EU) must approve a trade deal with the US by July 4 or face higher taxes on their goods. The EU and US agreed last year to reduce tariffs on many products, but the deal still needs final approval from EU member states.

Key Facts

  • President Trump gave the EU a deadline of July 4 to ratify the trade deal.
  • If the EU misses this deadline, Trump threatens to raise tariffs on EU goods, especially cars and trucks, to 25%.
  • The trade deal was announced last July and sets tariffs on most European goods at 15%.
  • The EU has made some progress but has not completed the approval process for the deal.
  • The US Supreme Court ruled in February that Trump exceeded his authority on some tariffs, leading to temporary 10% duties instead.
  • The EU parliament approved the deal in March but added conditions requiring further talks with EU member states.
  • Cyprus currently holds the rotating presidency of the EU and supports continuing talks to approve the deal.
  • President Trump insists the EU promised to lower tariffs to zero as part of the “largest trade deal ever” agreed in Scotland last year.
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Guardian World Guardian US Guardian Business
Travel costs soar for Champions League final

Travel costs soar for Champions League final

May 07, 2026 • France24

Summary

Travel costs have risen sharply for fans attending the Champions League final in Budapest on May 30. This increase comes as many fans of Paris Saint Germain and Arsenal rush to book flights and hotels.

Key Facts

  • The Champions League final will take place in Budapest on May 30, 2026.
  • Fans of Paris Saint Germain and Arsenal are trying to book trips to the final.
  • Demand for flights and accommodation has increased quickly.
  • This high demand has caused travel prices to rise significantly.
  • The article also mentions FIFA defending high ticket prices for the upcoming World Cup.
  • Japan’s stock market index, Nikkei, recently hit record highs due to strong tech spending.
  • The focus of the article is on travel and economic effects related to a major sports event.
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France24
GameStop CEO opens eBay storefront to pay for potential eBay acquisition

GameStop CEO opens eBay storefront to pay for potential eBay acquisition

May 07, 2026 • Guardian US

Summary

GameStop CEO Ryan Cohen is selling various items on eBay, including vintage games and merchandise, to help fund GameStop’s proposed $55.5 billion bid to buy eBay. Cohen’s bid and plans to transform eBay into a large competitor to Amazon have led to mixed reactions, including a drop in GameStop’s stock price.

Key Facts

  • Ryan Cohen, GameStop’s CEO, posted items for sale on eBay to raise money for acquiring eBay.
  • Cohen’s eBay account was briefly suspended but later reinstated, allowing bidding to continue.
  • Items for sale include GameStop signs, merchandise, vintage games, and a $14,000 pair of socks.
  • GameStop offered $55.5 billion to buy eBay, proposing half cash and half stock in the deal.
  • GameStop owns 5% of eBay’s shares currently.
  • Cohen wants to grow eBay into a company worth hundreds of billions and a competitor to Amazon.
  • GameStop’s stock price dropped 10% after Cohen avoided detailed questions about financing the deal.
  • Investor Michael Burry sold his GameStop shares, criticizing the company’s financial strategy.
  • eBay is reviewing the offer with financial and legal advisors and has not commented publicly.
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Guardian US Guardian World
Blue Cross Blue Shield $2B Settlement: How to Claim Your Payment

Blue Cross Blue Shield $2B Settlement: How to Claim Your Payment

May 07, 2026 • Newsweek

Summary

Blue Cross Blue Shield is paying nearly $2 billion to people and businesses after a lawsuit said it limited competition and raised insurance costs. Payments will go to those who filed claims on time for coverage between 2008 and 2020, with distributions starting soon.

Key Facts

  • The settlement is worth about $2.7 billion total, with $2 billion for eligible claimants.
  • It comes from a lawsuit accusing Blue Cross Blue Shield of reducing competition among its insurers.
  • The company denied wrongdoing but agreed to settle to avoid ongoing legal costs.
  • About 115 million Americans have had Blue Cross Blue Shield coverage in recent years.
  • Only those who filed claims by November 5, 2021, qualify for payment.
  • Eligible claimants had insurance between February 7, 2008, and October 16, 2020.
  • Payments will be sent soon to those whose claims were approved; most do not need to take further action now.
  • The case may lead to changes in how health insurers set prices and compete in the future.
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Newsweek
$60,000 CD vs. $60,000 high-yield savings account vs. $60,000 money market account: Which earns more interest now?

$60,000 CD vs. $60,000 high-yield savings account vs. $60,000 money market account: Which earns more interest now?

May 07, 2026 • CBS News

Summary

If you have $60,000 to save, you can choose between a certificate of deposit (CD), a high-yield savings account, or a money market account to earn interest. Right now, CDs offer the highest guaranteed interest rates compared to the other two options, but they require you to keep the money locked in for a set time.

Key Facts

  • A CD has a fixed interest rate, meaning the rate stays the same until the CD matures.
  • High-yield savings and money market accounts have variable rates that can change over time.
  • Current rates are approximately 4% or higher for CDs and high-yield savings accounts; money market accounts offer slightly lower rates around 3.9%.
  • A 6-month CD at 4.10% can earn about $1,218 in interest on $60,000.
  • A 1-year CD at 4.10% can earn about $2,460 in interest on $60,000.
  • Savings and money market accounts offer easier access to your money but usually pay slightly less interest.
  • The Federal Reserve has paused interest rate changes for the near future, making current rates more predictable.
  • Splitting funds between these accounts can balance the benefits of flexibility and higher returns.
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CBS News
Morrisons supermarket in Wales fined £750k for dirty bakery

Morrisons supermarket in Wales fined £750k for dirty bakery

May 07, 2026 • BBC Business

Summary

Morrisons supermarket in Cwmbran, Wales, was fined £750,000 after an inspection found many hygiene problems in its bakery. The bakery was closed for cleaning and Morrisons said it acted quickly to fix the issues.

Key Facts

  • Morrisons was fined £737,000, reduced from £1.1 million due to an early guilty plea.
  • The store also had to pay £11,221 in legal costs and a £2,000 victim surcharge.
  • A routine inspection in August 2024 found 51 food safety violations at the bakery.
  • Issues included poor cleanliness, dirty equipment, lack of staff oversight, and failures in food safety management.
  • The bakery was immediately shut down for deep cleaning after the problems were found.
  • The judge described the problems as serious and systemic, not caused by a few workers.
  • Morrisons acknowledged the bakery was below expected standards but called it a local issue that was fixed quickly.
  • Torfaen council said they will take formal action to protect consumer health when needed.
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BBC Business BBC Top Stories
Should you lock a mortgage rate before the next inflation report is released?

Should you lock a mortgage rate before the next inflation report is released?

May 07, 2026 • CBS News

Summary

Mortgage interest rates have been rising recently due to inflation and global events, even though the Federal Reserve plans to keep rates steady through 2026. Borrowers thinking about buying a home or refinancing might want to lock in their mortgage rate before the next inflation report on May 12, since a higher inflation reading could push rates up again.

Key Facts

  • Mortgage interest rates increased from 6.12% to 6.37% between early April and early May.
  • Inflation affects mortgage rates significantly; higher inflation usually leads to higher mortgage rates.
  • Locking a mortgage rate means securing the current rate for a set time, protecting against future increases.
  • Borrowers can budget better with a locked rate since their monthly payment will be clear.
  • Some lenders allow borrowers to reduce (float down) their locked rate if rates drop before closing, usually for a fee.
  • Refinancing later is possible if mortgage rates become lower in the future.
  • The next inflation report will be released on May 12 by the Bureau of Labor Statistics.
  • Rate locks can help borrowers avoid paying more if inflation causes rates to rise after the report.
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CBS News
3 reverse mortgage advantages to know this May

3 reverse mortgage advantages to know this May

May 07, 2026 • CBS News

Summary

This article explains the benefits of reverse mortgages for homeowners aged 62 and older, especially in the current economy with high interest rates. It highlights three main advantages for seniors considering a reverse mortgage in May, including protection from rising rates, access to large home equity, and avoiding costly cash-out refinancing.

Key Facts

  • Reverse mortgages are only available to homeowners aged 62 or older.
  • They allow seniors to borrow against their home equity without monthly payments; repayment is made when the home is sold or the owner passes away.
  • Unlike home equity loans or lines of credit, reverse mortgages have no variable interest rates, so monthly costs do not increase with market changes.
  • The U.S. currently has record-high home equity amounts available for borrowing.
  • Seniors can use reverse mortgages to pay off existing mortgages or reduce credit card debt.
  • Cash-out refinancing is less attractive now because interest rates are higher than earlier in the year, making reverse mortgages a better option to pay off current loans.
  • With reverse mortgages, the existing mortgage is often fully paid off, eliminating future loan payments.
  • Using a reverse mortgage reduces the home’s value for heirs, but can improve financial security for the homeowner.
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CBS News
Millions to Receive $250, $500 Payments in May—Who Is Eligible in Georgia?

Millions to Receive $250, $500 Payments in May—Who Is Eligible in Georgia?

May 07, 2026 • Newsweek

Summary

Georgia is issuing one-time payments up to $500 to millions of residents from its state budget surplus this May. The payments are automatic refunds based on tax filings and are meant to help with everyday expenses.

Key Facts

  • Payments start this month and come from Georgia’s budget surplus.
  • The refunds are authorized under House Bill 1000 and are the fourth time Georgia has issued such payments under Governor Brian Kemp.
  • Amounts vary by filing status: up to $250 for singles, $375 for heads of household, and $500 for married couples filing jointly.
  • Payments cannot exceed the amount of state income tax owed for 2024; lower tax liability means a smaller or no refund.
  • To qualify, taxpayers must have filed 2024 and 2025 Georgia state tax returns on time or with extension and have a tax liability.
  • Residents include full-year, part-year, or qualifying nonresidents with Georgia income.
  • No separate application is needed; eligible taxpayers receive payments automatically.
  • Past due debts to the state or child support can reduce or eliminate the refund amount.
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Newsweek
I tested the best US pizza makers costing $129 to $2,800. Here's what was worth the price

I tested the best US pizza makers costing $129 to $2,800. Here's what was worth the price

May 07, 2026 • Guardian Tech

Summary

The article reviews different home pizza-making tools ranging in price from $129 to $2,800. It explains what each type of pizza maker offers and which ones deliver the best value depending on your needs and budget.

Key Facts

  • Budget pizza makers like the $129 Baking Steel offer durable, heat-conductive surfaces that give crisp crusts but take longer to preheat.
  • Mid-range pizza makers such as the $699 Ooni Volt 2 electric oven heat up quickly and can reach higher temperatures to cook pizza faster and more like a restaurant.
  • High-end models, like the $2,800 Gozney Dome XL, are outdoor ovens fueled by propane or wood, reaching very high temperatures and cooking multiple pizzas at once.
  • Pizza steels can be used for baking bread and other foods besides pizza.
  • Electric ovens allow precise temperature control for cooking various foods, including cookies and vegetables.
  • Outdoor pizza ovens can also cook meats and roasted dishes while providing a more authentic pizza experience.
  • The author has professional experience testing kitchen gear and worked in his family’s pizzeria as a child.
  • Each price level has trade-offs between cost, convenience, and cooking performance.
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Guardian Tech
Whirlpool warns of ‘recession-level’ slump as Iran war and tariff ruling hit sales

Whirlpool warns of ‘recession-level’ slump as Iran war and tariff ruling hit sales

May 07, 2026 • Guardian World

Summary

Whirlpool warned that the war in Iran and economic worries are causing Americans to delay buying big appliances. The company reported a nearly 10% drop in revenue and is raising prices to manage rising costs. Whirlpool also lowered its yearly profit expectations and paused its dividend payments.

Key Facts

  • Whirlpool makes brands like KitchenAid and Maytag and produces most appliances in the U.S.
  • Sales of major appliances in North America dropped over 7%, causing revenue to fall nearly 10% in the latest quarter.
  • The war in Iran led to a sharp drop in consumer confidence and spending on large items.
  • Whirlpool raised prices by 10% in April and will increase prices by another 4% in July to cover higher costs.
  • The company lost $82 million in the first quarter this year after previously making gains.
  • The U.S. Supreme Court struck down emergency tariffs that affected Whirlpool and its competitors, causing market disruption.
  • Consumers are avoiding expensive appliance purchases due to concerns about grocery and gas prices.
  • Whirlpool lowered its full-year earnings forecast and suspended its dividend to focus on reducing debt.
  • Whirlpool's stock price fell over 12% after the earnings report.
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Guardian World Guardian US Guardian Business
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