The oil and gas producing giant BP has recorded a more than doubling of profits as it benefits from high prices from the Iran war.
Benchmark oil prices have soared since early March as attacks led to the effective closure of the Strait of Hormuz, through which about a fifth of the world’s oil and liquified natural gas (LNG) flowed.
BP has been a big beneficiary; its results for the first three months of its financial year show its underlying profits hit $3.198bn (£2.366bn).
Spotify has announced a jump in the number of subscribers despite hiking prices in the UK and some of its biggest markets worldwide.
The music streaming group reported a higher-than-expected 12% rise in monthly active users, to 761 million in the first three months of the year, and a 9% rise in paying subscribers to 293 million.
This came in spite of the group pushing through recent price increases, with UK premium subscriptions rising 8.3% or £1 to £12.99 a month – £24 a year – as of November, while family plans increased by £2 to £21.99 a month.
Scores of Claire’s stores have been closed for the final time, even as the owner of parts of the jewellery retailer’s European operations tries to seal a last-ditch rescue deal, City editor Mark Kleinman reports.
Sky News understands that insolvency practitioners at Kroll brought the shutters down on Claire’s standalone stores on Monday, with the loss of hundreds of jobs.
The move does not affect its remaining concessions and head office.
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