Business - Wednesday, March 11, 2026

Oil prices moved higher on Wednesday as markets continue to watch developments in the U.S.-Iran war.

UK government considering support schemes for households and businesses hit by surge in energy prices; International Energy Agency on course for largest release of oil reserves in its history to bring down crude prices How Iran has used the strait of Hormuz to throttle oil and gas – a visual guide The government is also looking at support schemes for households and businesses hit by the surge in energy prices since the US and Israel began their war on Iran 1 1/2 weeks ago. Reeves said there is “scope” in the public finances for a short-term support scheme if required. We will always make sure we do everything we can to protect consumers but also to ensure our national security as an economy We’re in a stronger position since I became chancellor to respond to shocks like these and we’re in a stronger position in many ways than when Russia invaded Ukraine. So there is other work going on in terms of business support, in both my department [the Treasury] and the department for business and trade. Nothing is off the table at this stage. We are looking at targeted support as well as broader measures but it is just to early to say what is needed. [That] makes it more likely to be able to use targeted support this time. We are looking at all of those things. But it’s too early to give you different scenarios and different options for those scenarios. I’ve been very clear the UK is willing to play its part in using those reserves to put downward pressure on oil pressures and make sure supply remains strong. It’s certainly not good for the british economy to have trade disrupted, especially when so much oil and gas comes from that part of the world At this stage i think it would be unwise to speculate on what the impact on inflation and interest rates would be. We are now less reliant on international, energy price movements than we were when Russia invaded Ukraine. Because we’ve invested more in homegrown, renewable energy, which is not subject to this price volatility because it’s purchased through contracts for difference. Over the next few years, we will even be more insulated as more of that renewable energy comes online, and as we build the, the infrastructure to better connect it to the grid. And that will be facilitated, of course, by the Planning and Infrastructure Act, which which was passed at the end of last year. But even in the last five years, we have become less reliant on those international energy markets. That’s not to downplay the significance in movements in global oil and gas prices. But the context is slightly different than it was when Russia invaded Ukraine. Continue reading...

China's enthusiasm for the OpenClaw AI agent has sent shares of tech companies that embraced it soaring. But Beijing is now moving to limit its uses at government agencies and some of its largest banks. (Source: Bloomberg)

President Trump again demonstrated his desire to keep the stock markets aloft when he suggested U.S. attacks on Iran could end soon.

JPMorgan is restricting some lending to private credit funds after marking down the value of certain loans in their portfolios, according to a person familiar with the matter. The devalued loans are to software companies, the person added. Bloomberg's Dana El Baltaji reports. (Source: Bloomberg)

Practitioners nationwide are striving to do what’s best for children’s health, while staying supportive in the face of mistrust and confusion.

Arms maker Rheinmetall reported full-year sales that grew 29% year-over-year and said revenue would grow by even more this year.

Documents filed at Companies House over 2022 deal could complicate row with UK over how money will be used Jersey authorities may be investigating whether cash raised by Roman Abramovich’s 2022 sale of Chelsea FC amounts to the proceeds of crime, according to documents filed at Companies House on Wednesday, potentially complicating a row with the UK government over how the money will be used. Accounts for Fordstam Ltd, the company through which the billionaire Russian oligarch owned Chelsea, show that the proceeds of the sale – currently frozen and gathering interest in a Barclays Bank account – have risen to £2.4bn. Continue reading...

The International Energy Agency is proposing a discharge of emergency oil reserves that would be the largest in its history, as Japan said it’ll press ahead with its own release regardless.

Drivers are paying an average of 20 percent more at the pump since the strikes on Iran began. The global oil price was higher and stocks were mixed.