BP's profits more than doubled in the first quarter of the year, reaching $3.2bn, largely driven by a surge in oil prices following the conflict with Iran.

• Profits from January to March were $3.2bn, a significant increase from $1.38bn in the same period last year.
• The energy giant's oil trading business reported an "exceptional" performance, with its customers and products division surging to $2.5bn.
• The conflict in the Middle East has led to a spike in oil prices, with Brent crude trading around $110 a barrel.

Global military spending reached a record 2.89 trillion U.S. dollars in 2025, marking the eleventh consecutive year of growth, according to a report by the Stockholm International Peace Research Institute (SIPRI).

• The global military burden rose to 2.5 percent of GDP, the highest since 2009.
• SIPRI attributes the increase to ongoing wars, uncertainty, and large-scale armament drives.
• Europe was the main contributor to the global rise, with its military spending increasing by 14 percent to 864 billion dollars.

The accessories chain Claire's has closed all 154 standalone stores in the UK and Ireland, resulting in over 1,300 job losses.

• Over 1,300 staff have been notified of redundancy as all standalone stores in the UK and Ireland ceased trading on April 27.
• Claire's, known for its colourful jewellery and ear piercing services, has been struggling due to competition from online brands and changing consumer tastes.
• Administrators Kroll confirmed the closures, though the brand's 350 concessions will remain open.