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BBC News with Neil Nunes.
Oil prices are surging relentlessly, touching their highest point since the U.S. and [Israel] Israeli war against Iran began at the end of February. This comes after news emerged of President Trump discussing with a group of energy executives the possibility of extending the U.S. blockade on Iranian ports and shipping for months. Here's our business reporter Jonathan Josephs. Oil traders appear to have taken these developments as signs the effective closure of the Strait of Hormuz will continue for a prolonged period of time. That means reduced supplies of oil and gas from the Middle East. Before the conflict, 20 percent of what the world uses came through the strait. The concern is that higher energy prices mean higher inflation and stunted economic growth. Nonetheless, the head of the U.S. central bank has said that despite the shock of higher energy prices, the world's biggest economy has been resilient so far. The chairman of the U.S. Federal Reserve, Jerome Powell, who has faced down sharp criticism from President Trump, has said he will remain on the Fed's Board of Governors after his term as chairman ends. Mr. Powell's decision came after the central bank held interest rate steady for a third consecutive time. He explained why. "We're in an unusually difficult situation. So we've really had four supply shocks. We had the pandemic, we had the invasion of Ukraine, we had tariffs, and now we have Iran and the oil spike. So every supply shock has the capability of driving inflation up and unemployment up. So the right thing to do is to try to balance the achievement of those two goals." The U.S. Justice Department says it has charged the serving governor of Mexico's Sinaloa state for allegedly conspiring with leaders of the Sinaloa Cartel to traffic massive quantities of narcotics. As well as Rubén Rocha Moya, nine other current and former Mexican officials have also been indicted. It marks a significant escalation of U.S. action against drug trafficking and could potentially increase bilateral tension with Mexico. Mr. Rocha has denied the charges. Iranian media say national football officials will not attend the FIFA congress in Canada due to what was described as "inappropriate behavior" by immigration officials at Toronto Airport. The semi-official Tasnim News Agency did not give details of the alleged incident. Here's Anbarasan Ethirajan. The Tasnim News Agency said three senior Iranian football officials had arrived with official visas to participate in Thursday's congress, but they left on the next available flight. There are no further details on what prompted the Iranians to depart. There has been no comment from Canada or FIFA. Iran's participation in the upcoming World Cup in the U.S., Canada and Mexico is the most politically sensitive item on FIFA's agenda. BBC News. The Kenyan athlete Sebastian Sawe has returned home after becoming the first person to run a marathon in under two hours in competitive race conditions in London last Sunday. There were chaotic scenes at Nairobi Airport as government and sports officials welcomed Sawe back to Kenya where his incredible achievement is being celebrated. Prosecutors in Los Angeles have told a court they have evidence that TikTok singer David stabbed a 14-year-old girl to death and tried to cover up the crime. The dismembered body of Celeste Rivas Hernandez was discovered in September inside a zipped-up body bag in the boot of a car registered to David. On Monday he pleaded not guilty to first-degree murder. New analysis of ancient genomes, the DNA instructions in cells, is challenging the long-held belief that northern barbarian tribes overran the west of Europe after the collapse of the Roman Empire. The findings point instead to gradual genetic and cultural shifts brought about by small-scale migration and intermarriage. The Spanish pop star Rosalía is to receive a major British honor at next month's Ivor Novello songwriting awards. The 33-year-old will be named International Writer of the Year, recognizing her multilingual album "LUX." We get more from Mark Savage. Hailing from Barcelona, Rosalía is a former Flamenco student whose fourth album "LUX" combines classical music with pop. Last month it earned her the Brit Award for Best International Artist. "Oh my God, this is insane." She'll be honored again at May's Ivor Novello Awards. Organizers say her music is redefining the art of songwriting. Other nominees at the ceremony include Olivia Dean, C-Matt and Lily Allen. BBC World News. |