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Europe must prepare for ‘long-lasting’ energy shock, EU warns
The EU is assessing “all possibilities” including fuel rationing and releasing more oil from emergency reserves as it braces for a “long-lasting” energy shock from the Middle East war, the bloc’s energy commissioner has said. “This will be a long crisis … energy prices will be higher for a very long time,” Dan Jørgensen told the FT, warning that for some more “critical” products “we expect it to be even worse in the weeks to come”. The near closure of the crucial Strait of Hormuz waterway and strikes on infrastructure in the Gulf have created chaos in energy markets, sending prices soaring and prompting long-term supply fears. “The rhetoric that we’re using and the words we’re using are more serious now than they were earlier in the crisis,” Jørgensen said. “It certainly is our analysis that this will be a prolonged situation and countries need to be sure that they … have what they need.” He said that while the EU was “not in a security of supply crisis, yet”, Brussels was drawing up plans to tackle “structural, long-lasting effects” of the conflict. Financial Times, April 3

Macron criticises Trump’s mixed messages about Nato and Iran
Emmanuel Macron has sharply criticised Donald Trump’s inconsistent and often contradictory pronouncements on the Iran war and Nato, saying if “you want to be serious” it was better not to come out with something different every day. “There is too much talk … and it’s all over the place,” the French president said on Thursday during a state visit to South Korea. “We all need stability, calm, a return to peace - this isn’t a show!” Macron added: “You have to be serious. When you want to be serious, you don’t go around saying the opposite every day of what you just said the day before. And perhaps you shouldn’t talk every day.” Macron also mounted a strong defence of Nato, accusing Trump of undermining the transatlantic defence alliance through repeated remarks questioning the United States’s commitment to its continued membership. The Guardian, April 2

UK, Italy and Japan sign first contract with industry for fighter jet project
The UK, Japan and Italy have signed the first international contract with their industrial partners to develop a new fighter jet, but have only provided funding for three months. The three nations on Thursday said they had signed a £686mn contract for key engineering and design work on the Global Combat Air Programme, which is targeting the first delivery by 2035. The deal, which runs until the end of June, provides a critical bridge for work on the fighter jet to move forward and buys the UK government time to deliver its long-delayed 10-year defence investment plan. The UK had expected to publish the plan last year, but this has been repeatedly postponed because of a £28bn funding gap in its defence budget. Japanese officials have become increasingly alarmed about delays to the signing of a full contract for design and development work, which has been caused by the UK dragging its feet on committing funding through the DIP. Financial Times, April 2

Trump signs order threatening up to 100% tariffs on pharmaceuticals
President Donald Trump signed an executive order on Thursday that could slap long-threatened pharmaceutical tariffs of up to 100 per cent on some patented drugs from companies that don't reach deals with his administration in the coming months. Companies that have signed a “most favoured nation” pricing deal and are actively building facilities in the US to onshore production of patented pharmaceuticals and their ingredients will have a 0 per cent tariff. For those that don’t have a pricing deal but are building such projects in the US, a 20 per cent tariff will apply but will increase to 100 per cent in four years. A senior administration official told reporters on a press call that companies still have months to negotiate before the 100 per cent tariffs kick in - 120 days for bigger companies, and 180 days for everyone else. The official, speaking on condition of anonymity to preview the executive order before it was issued, did not identify any companies or drugs that were in jeopardy of getting hit with the increased tariffs but noted the administration had already reached 17 pricing deals with major drugmakers, 13 of which have signed. France 24, April 3

Ed Miliband to approve first major North Sea gasfield project in decade
Ed Miliband is expected to give the green light to the first major North Sea oil and gasfield project in almost 10 years as ministers face political pressure to increase drilling during the war in Iran. Whitehall officials say the energy secretary is minded to approve the Jackdaw gasfield, 150 miles off Aberdeen, which could begin supplying gas to more than a million homes this winter. The company says it could produce the equivalent of 6 per cent of the UK’s future gas supply. The project has been awaiting Miliband’s approval since 2024 after the High Court ruled that a previous licence was invalid because it had not taken into account the carbon emissions generated from burning the gas it produced. The Times, April 2

Marmalade to be rebranded in post-Brexit food deal
Marmalade has long been a quintessential British preserve, with some recipes handed down between multiple generations. But jars of the fruity spread could look a little different on shop shelves under the UK government's planned EU food deal, it has emerged. The breakfast favourite will have to be sold as "citrus marmalade" if the agreement goes ahead, when Britain will readopt new EU food regulations in a bid to boost trade and reduce red tape for British exporters. The name change is required because Brussels is relaxing its labelling rules, widening the legal definition of marmalade across Europe for the first time. BBC news, April 3

Donald Trump threatens to hit Iran ‘extremely hard’ in coming weeks
Donald Trump vowed to hit Iran “extremely hard” over the coming weeks in a primetime television speech that dashed investors’ hopes of an imminent end to the conflict. The US president insisted Washington would achieve its goals for the war “very shortly”, but signalled further escalation rather than a quick peace deal. “We’re going to hit them extremely hard over the next two to three weeks. We’re going to bring them back to the Stone Ages, where they belong,” Trump warned in the 19-minute address from the White House. He also told American allies they would have to “take the lead” in reopening the Strait of Hormuz to oil shipments. Oil prices jumped as Trump offered little clarity on when and how the war would end, with Brent, the international benchmark, rising about 5 per cent in early Asia trading to $106 a barrel. Stocks slid with Japan’s Topix share index falling roughly 1.2 per cent while South Korea’s Kospi dropped 3.8 per cent and futures tracking Wall Street’s S&P 500 declined 1 per cent. Financial Times, April 2

UK to host virtual summit on Strait of Hormuz
British Foreign Secretary Yvette Cooper is set to chair a meeting of more than 30 foreign ministers on Thursday, in an effort to coordinate an international plan to reopen the Strait of Hormuz. The virtual summit is expected to consider what diplomatic and political steps could be taken to reopen the important shipping route, though the US was not set to attend. Iran has attacked several vessels in the Strait in response to the war waged against it by the US and Israel, severely disrupting energy exports and sending global fuel prices soaring. On Wednesday, US President Donald Trump said it was for other nations to "build up some delayed courage" and reopen the route. Trump said allies "should have done it" earlier, adding: "Go to the Strait and just take it. Protect it. Use it for yourselves." BBC news, April 2

Artemis II launches historic flyby lunar mission with diverse crew
Four astronauts embarked on a high-stakes flight around the Moon on Wednesday, humanity’s first lunar voyage in more than half a century and the thrilling leadoff in NASA’s push toward a landing in two years. Carrying three Americans and one Canadian, the 32-storey rocket rose from NASA’s Kennedy Space Center, where tens of thousands gathered to witness the dawn of this new era. Crowds also jammed the surrounding roads and beaches, reminiscent of the Apollo moonshots in the 1960s and ’70s. It is NASA’s biggest step yet toward establishing a permanent lunar presence. On this historic mission, you take with you the heart of this Artemis team, the daring spirit of the American people and our partners across the globe, and the hopes and dreams of a new generation,” said Charlie Blackwell-Thompson, the launch director. “Good luck, Godspeed Artemis II. Let’s go.” France 24, April 2

Adults less active on social media and fewer believe it’s good for you
Adults are becoming less active on social media as the number of people who believe that the platforms are good for their mental health declines, a report found. The number actively engaging with social media by posting or commenting has fallen from 61 per cent in 2024 to 49 per cent last year, a survey by Ofcom has found. Fewer people feel positive about being online, and only 36 per cent of social media users say that the platforms are good for their mental health, down from 42 per cent the previous year. Alison Preston, head of media literacy research at Ofcom, said: “Social media is becoming less social, with many users now scrolling and swiping rather than posting and engaging, while concerns about screentime and digital footprints are also apparent.” Ofcom surveyed 7,533 people and published the findings in the Adults’ Media Use and Attitude Report, which forms part of the regulator’s media literacy strategy. The Times, April 2

NHS staff boycott Palantir’s data platform over ethical concerns
A growing number of NHS staff are refusing to work on Palantir’s health data platform over ethical concerns about the controversial US tech company. The technology company was awarded a £330mn contract in 2023 to create the Federated Data Platform, which collates NHS operational data such as waiting lists, staffing, patient information and operating theatre schedules. Palantir’s NHS role has become increasingly contentious owing to its work in the US defence sector and co-founder and chief executive Alex Karp’s outspoken backing for Donald Trump’s immigration crackdown. “People are saying, ‘I refuse to work on this software. You have to find something else for me to do’,” said one senior NHS official who manages data analysts. “They’re calling it a workplace adjustment. It would be like, you know, if you were disabled and needed a different desk, they’re literally treating it like that.” Financial Times, April 2

Thames Water ‘close to deal that would spare it Ofwat fines until 2030’
Thames Water is said to be close to a deal with its regulator that would allow the company to avoid new fines for four years, as long as it commits to investing in the business. The controversial offer, reported by the Financial Times, has been put forward by creditors who are hoping to save the struggling utility from being temporarily renationalised. Thames has been trying to stave off financial collapse for more than two years, after building up a £17.6bn debt pile in the decades after its privatisation. Bosses tried to sell the company last year but faced embarrassment when their preferred bidder, KKR, pulled out of the deal at the last minute. The sector watchdog for England and Wales, Ofwat, is now reportedly poised to accept what is known as “undertakings” from the company, which would lead to it committing to fix the issue that caused the original problem rather than paying a penalty to the government. The Guardian, April 2