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EU Commission’ expected to propose trade restriction options against Israeli settlements

Speaking to Euronews’e, five diplomats from the European Commission are expected to present options on how to restrict imports of goods from Israeli settlements in the occupied Palestinian territories ahead of the EU Foreign Ministers' meeting in July.

After months of stalemate, the EU administration is under constant pressure from the majority of European governments to put forward a concrete proposal to restrict trade with settlements deemed illegal under international law.

At a meeting of foreign ministers in ’, Luxembourg on Monday, EU Commissioner for the Mediterranean ’ Dubravka Šuica said that given strong pressure from member states, the Commission will prepare some options ahead of ’'s next ministerial meeting on 13 July, Euronews’e quoted five diplomatic sources as saying.

However, it is not yet clear what types of options will be offered. The Commission has been reluctant to put forward proposals to restrict trade so far, bearing in mind that Council ’ could not find a qualified majority to suspend the EU-Israel Association Agreement; This is already a much more important measure and is already on the table.

Last week, a report by advocacy group Global Echo Litigation Center suggested that agricultural products produced in Palestinian-occupied areas entered the EU market mislabeled as legitimate Israeli goods.

In this context, the Commission may submit corrective measures if the evidence in the report is verified.

EU foreign policy chief Kaja Kallas told reporters after the meeting that “Many member states have called for proposals from the Commission on trade with illegal settlements. I will submit this request and ask the Commission ’ to draw up a list of options for possible trade measures, including measures aimed at preventing imports of goods from illegal settlements, ahead of the next Foreign Affairs Council.”

Israel has recently implemented measures aimed at strengthening its control over the West Bank and East Jerusalem in areas such as property law, planning and licensing; These steps are contrary to the important agreements signed under the Oslo peace agreement of 1993.

According to the opinion of the International Court of Justice (ICJ), ’, which found Israeli settlements illegal in 2024, settlement activities in the Palestinian territories are considered illegal.

In 2019, the Court of Justice of the European Union (CJEU) ruled that food products produced in Israeli settlements in the occupied territories should be clearly labeled as ’ from the settlement of “Israel, rather than simply being identified as ”Israel Product“.

Proposal to impose tariffs on goods from Israeli settlements, at least for the total population of AB’ %At least 65 of the EU member states representing ’ini %It will be decided by a qualified majority vote requiring the support of 55 ’i.

A group of member states, including France and Sweden, have already advocated this approach, arguing that tariffs fall under trade policy and therefore require only a qualified majority.

French Foreign Trade Minister Nicolas Forissier recently euronews’e saidAB’ said restricting trade with Israeli settlements was normal “, not an attacker.

In turn, the Commission stressed that such tariffs would constitute sanctions under EU law, require unanimity among member states and cannot be agreed on.

Council Legal Service ’, the institution's effective legal advisory body, reportedly opposed this view and strengthened pressure on trade restrictions to curb the illegal expansion of ’ in the West Bank of Israel.

The Israeli government rejects the illegal identification of these settlements and classifies them as “ temporary areas.

In May, after the new Hungarian government lifted the previous veto imposed by former Prime Minister Viktor Orbán’, the EU adopted restrictive measures against extremist settlers and the organizations that support them.

Kallas, “There was a clear understanding that options should be clear. I'll take this back to the Commissioners, ” said.

Fox moves €19.1 billion in cash and stock for broadcast company Roku

The deal, announced on Monday, will provide access to the Fox’a Roku channel, first-party data, and more than 100 million global streaming households.

Fox, a media giant that includes sports, news, and entertainment content, as well as Tubi’yi, charges 96 for every unpaid Roku Class A and Class B stake. $ will pay 0,9693 shares in cash and Class A ordinary stocks. The value of the transaction per Roku share is $160.

Upon completion of the deal, existing Fox shareholders agreed that the combined company's approximation of ’üne, Roku shareholders approx. %It is expected to have 27’sine.

The deal is expected to be completed in the first half of next year. It still needs approval from Fox and Roku shareholders, as well as regulatory approvals.

Lachlan K. Murdoch, chairman and CEO of Fox Corporation’, said in a statement on Fox Corp’'s website, ’Today we are taking the next step: We are combining the most valuable live content portfolio in video consumption with the leading streaming platform watched by America’.

Anthony Wood, founder, president and CEO of Roku’, also made a public statement about the agreement.

Over the past two decades, we've made Roku“ the leading TV streaming platform, reaching over 100 million households worldwide and reshaping the way people discover and enjoy entertainment. I'm incredibly proud of what our team has done, and the merger with Fox is an extraordinary opportunity to accelerate our vision, scale faster, and innovate more aggressively for audiences, partners, and advertisers, ” said.

TIIF 2026: Uzbekistan to offer €75 billion worth of projects to global investors

Investment projects worth approximately 75 billion euros will be presented to international investors at the fair Tashkent International Investment Forum (TIIF) 2026,Uzbekistan seeks funding in sectors such as energy, transport, logistics, digital infrastructure and industrial development.

Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, “We have prepared investment proposals worth approximately 75 billion euros with Uzbek enterprises and regional authorities, ” said. “Eight sales pitch sessions will allow entrepreneurs to present directly to investors.”

More than 3,400 foreign delegates from 102 countries are expected to attend the forum, as well as government officials, development banks, state wealth funds and multinational companies representing more than $42 trillion (approximately €36.5 trillion) in total assets.

The forum is taking place at a time when governments and businesses are reassessing their supply chains, transport routes and access to critical resources. Within this framework, discussions in Tashkent ’ are expected to focus on attracting long-term capital for projects in Uzbekistan and the Central Asian region.

Where the investment is expected to flow

The projects presented at TIIF 2026’ cover sectors that Uzbek officials and investors increasingly see as strategic in terms of long-term growth.

According to the organizers, opportunities will be offered in the fields of energy, transportation infrastructure, logistics, industrial development, digital infrastructure and advanced technologies. This year's forum theme is “Investment Sustainability: New Horizons, New Partnerships” places particular emphasis on critical raw materials, green energy, geological resources and artificial intelligence.

Through the digital platform designed to connect international investors with Uzbek businesses and local governments, more than 3,000 ’ foreign companies have been categorized according to their sector and investment priorities.

The forum will also feature special presentation sessions on light industry projects, geology and resources, electrical and mechanical engineering, and chemical production, allowing entrepreneurs and project developers to present investment opportunities directly to potential investors. Additional discussions Expansion of Production: Competitiveness in Value Added Production and Export, Agricultural Enterprise and Food Safety: It will focus on Technology, Value Chains and Export Growth, Strengthening Health Systems and Promoting Innovation in Pharmaceutical and Medical Technologies.

Akram Aliyev, Deputy Minister of Investments, Industry and Trade, “We have created an online platform that brings international companies together with Uzbek businesses and local governments, ” said.

The forum will also serve as a test of how effectively investment commitments are translated into operational projects.

Kudratov, “In 2025 alone, Uzbekistan received an investment of approximately 39 billion Euros, while the previously signed projects amounted to approximately ’i is already under implementation.” said.

Investors gather in record numbers

Organizers report a significant increase in attendance compared to previous editions of the forum.

A total of 62’ of last year's 26 government delegations are expected to attend. More than 370’ representatives from international financial institutions and development banks are also expected to attend the meeting.

The previous edition was attended by more than 8,000’ participants, including nearly 3,000 international delegates from 97 countries.

Shokhrukh Gulamov, Deputy Minister of Investments, Industry and Trade, said: "These figures show that our partners and investors have confidence in the region.

Corporate participants of the forum include companies and institutions such as BlackRock, JPMorgan Chase, Visa, Masdar, Airbus and Meta.

Stronger U.S. presence

This year, a stronger American presence is expected, with more than 200’ representatives from about 120 U.S. companies scheduled to join.

Aliyev, “In the past years, discussions often resulted in unresolved financing problems, ” said. “This year is expected to be president of the U.S. Export-Import Bank and president of the U.S. International Development Finance Corporation.”

USA’'s growing involvement reflects American institutions' growing interest in investment opportunities in Central Asia’.

Mobilization of capital for regional projects

Beyond individual investment agreements, TIIF 2026’ is expected to focus on projects that go beyond national borders and require long-term funding from multiple partners.

Gulamov, “UzbekistanWe aim to present not only ’'s projects, but also its major regional initiatives and attract joint investment with our neighbors.

Among the initiatives expected to take part in the discussions are hydroelectric developments covering Uzbekistan, Tajikistan and Kyrgyzstan’, cross-border electrical connections connecting Central Asia’ to the South Caucasus’, the China-Kyrgyzstan-Uzbekistan railway and the Trans-Afghan transportation corridor.

Negotiations are also expected to focus on the Middle Corridor, dry ports and intermodal logistics centres, as governments and businesses seek to improve trade ties between Asia, the Middle East and Europe.

Gulamov, “, said that large-scale regional projects require a significant amount of funding, and state funds can play a decisive role.

Participants are expected to include representatives from the Oman Investment Authority, Standard Chartered, Citibank, JPMorgan Chase and Bank of China’.

Reforms on the day

TIIF 2026 will provide a platform for dialogue on investment discussions, as well as regulatory reforms aimed at improving the business environment and expanding financing options for investors.

The Fourth General Assembly of the Council of Foreign Investors will bring together 75 major international companies operating in ’, Uzbekistan. More than 120 ’ proposals covering areas such as taxation, legislation and land use regulation were presented before the meeting.

After the discussions, officials said a roadmap for reforms would be adopted.

Among the measures expected in the coming weeks is legislation on the establishment of the Tashkent International Financial Center ’. Officials said the law was expected before the end of June.

In addition, the revised Special Economic Zones Law and the draft legislation covering alternative investment instruments are also being studied.

The proposed reforms are expected to introduce new mechanisms associated with venture capital and private equity, as well as expand financing options available to businesses and investors.

The forum offers Uzbekistan the opportunity to showcase both investment projects and planned regulatory reforms. The real question for investors will be how much of the discussions taking place in Tashkent’ will ultimately translate into financing agreements, new partnerships and projects.

Multiple U.S. states subpoena OpenAI’ye on ChatGPT user security during IPO

OpenAI faces a new regulatory challenge after a group of state attorneys requested a wide range of documents on how ChatGPT’ protects the people who use it; This move came at a sensitive time as it formed the basis for a potential public listing for the company.

The investigation, which comes a few days after OpenAI’ submitted confidential documents for the public offering, threatens to complicate the listing, which some analysts expect will value the ChatGPT maker at around $1 trillion (€861 billion).

According to The Wall Street Journal ’, which reported the matter for the first time, OpenAI received a subpoena from a group of states on Friday following an investigation by the New York attorney general.

Authorities are requesting materials that cover the company's advertising practices, how people continue to use its services, how consumer and health data is handled, and its policies for minors and older adults.

OpenAI said it would contact the offices behind the request, emphasizing that the protections are already integrated into its product.

A spokesperson said the company received “ciddiye” in response to concerns raised by the attorney general and is working to responsibly bring the benefits of the technology to people. However, the firm has not confirmed which other U.S. states will participate.

Increasing legal pressure

The subpoena adds to the growing list of legal issues.

Last Thursday, a Canadian woman sued OpenAI’, blaming ChatGPT’ for her daughter's suicide. In early June, Florida Attorney General James Uthmeier filed a lawsuit against the company and CEO Sam Altman following two shootings in which alleged attackers reportedly used the chatbot ’ to plan their crimes.

OpenAI said its models have repeatedly encouraged individuals to seek help from mental health professionals and cooperate with police in both cases.

These aren't the first courtroom tests of the year for OpenAI.

In May, a federal jury in Oakland’, California, took less than two hours to dismiss Elon Musk ’'s lawsuit accusing Altman’ of giving up the firm's nonprofit roots, finding that he filed too late. Musk, who called the decision “takvim technical error”, said he would appeal.

The restriction also extends across the industry.

European ​​​​ organizers have launched an investigation into Musk’'s rival chatbot Grok for antisemitic and sexualized content, including deep fake images.

Anthropic’e, who is also in preparation for an IPO, was told by the Trump administration to restrict its two models abroad on grounds of national security; This shows how AI management has become an increasingly worrying political battlefield.

Spanish bars are preparing for the World Cup’na with extra beer and staff

SpainMore than half of ’ football fans plan to watch the 2026 World Cup games in the bar. This is the figure from a study of LaLiga’'s football watching habits, and it shows that the Spaniards are the most likely Europeans to follow the tournaments away from their homes.

But on the field, the truth is more subtle. Santi Vidal, owner of the bar El Cuadro in Madrid's ’in Carabanchel district, does not expect a stampede at the opening matches: “People prefer to watch them at home. As La Roja progresses through the tournament, we expect only a large crowd.”RTVE’ye told me. They didn't make any special preparations for their first game against Cape Verde.

The pandemic is a turning point, Vidal points out: Before the coronavirus, football night was crazy. After COVID-19’, many people prefer to relax and reunite with friends at home.”

According to Numerator’'s Worldpanel consultancy, it's a change in habits that the data itself confirms. Two out of three fans will follow the World Cup ’ from the living roomFood and Drinks to Take Home %He'll spend six more. The Glovo report goes even further: the Spanish People %It reveals that 80’in prefers to stay at home, and pizza and burgers are ordered most often during matches.

the Industrial Association, Hostelería de España, He predicts that bars may increase their purchases.On match days when there are appropriate start times %With the 25 tween the 30s. SpainIf ’ reaches the finals, the total benefit to the sector could exceed 130 million Euro’. Average spend per customer during the tournament %It is expected to increase around 11, while spending is estimated to be between 13 and 18 euros per person per match.

The association also notes a side effect: Reservations in restaurants drop when matches are broadcast for free. In these cases, orders placed through food distribution platforms are increasing. The Glovo report supports this: Participants in the survey %the 82 ’siPrioritize orders for pizzas and burgers before the starter ​​ hit.

Bars adapt and change their menus

Many organizations are changing their offerings in order to attract customers. Julocho García, who bought the beach bar El Amarillo’ in Cabañas, La Coruña’ last year, is temporarily changing its menu, which consists of the usual fresh produce for sandwiches, nachos, burgers and empanadas: “ We know that people want to have a snack and eat fast food while watching games.”Jacob Medina has served as a reserve staff at ’'s Villarrubia de los Ojos’taki (Ciudad Real) El Portón bar for weeks: “If Spain enters the qualifying stage, Bar is normal %Fifty more full, even. more intense.”TVE’ye told me.

Brands and distributors have also taken action. Medina says her usual supplier gives her more than just drinks: “We have decorations, cherry birds, face paints. . . They gave us scratch cards with prize draws and merchandise.” Bar also decided to make an official Spanish scarf draw among its customers.

Medina, Spain, adds an element that rarely stands out in the analysis of the World Cup in ’'s hospitality sector: Moroccan national team. “Villarrubia’ has a large immigrant population from that country.They live the World Cup’ very intensely and they know that Fas’ has a real chance, so I expect the bar to be full if the Mohamed Ouahbi’nin team goes forward.”

The time difference with the United States, Canada, and Mexico is another factor that bar and restaurant owners take into account. Matches between Cape Verde and Saudi Arabia will start at 19:00’ (Houston, Texas, local time); June 27 Spain-Uruguay match starts at 18.00’de (Guadalajara, Mexico, local time). For Vidal, the early evening hours work according to bars in cities such as Madrid:On the contrary, “ García sees this as an advantage for the beach bar on the Galician coast: “People go to sea in the afternoon and then come to watch the game. It's the perfect time for dinner when the match is over.” So much so that he plans to open the games early in the morning.if there is demand.

The supply chain is also feeling the effects.Guillermo López Menchero, sales representative of Villarta de San Juan’ (Ciudad Real) distributor Menchero Gil SA’, says the bars have been pushing their orders for weeks: “They tend to order early, especially to avoid beer, soft drinks and water shortages.”Moreover, the change in the beer brand they worked with this year also increased the interest of the businesses in the province.

Ibex 35 rebounds on Iran deal and hits record 19,000 points

On Monday, enthusiasm came to international financial markets following the announcement of a framework agreement between the Trump administration and the Islamic Republic of Iran to end the war in the Middle East’. The Spanish stock market opened as one of the main protagonists of the day. Mountain Goat 35broke all resistance levels to touch the highest level of all time, exceeding the limit of 19,000 points,It reached 19,122 points. With this move, the benchmark index went up About the approx. %Increase by 10since the beginning of the year.

Agreement between the U.S. and IranThe Middle East draws a line below the military tensions that are keeping ’ tense and It threatened global macroeconomic stability.

Strait of Hormuz reopens to global trade

The economic cornerstone of the bilateral agreement Strait of HormuzImmediate reopening of ’. This sea route is one of the most important logistical narrow points in the world and many bridges pass through it. The fifth one The oil consumed worldwidewith large quantities of consumption and industrial goods.

Closing this shipping route since the beginning of the conflict Clogged global supply chains and caused crude oil prices to riseReaching unsustainable levels fuels a new fear the inflationary crisis.

The announcement that commercial shipping would continue triggered a sudden drop in the barrel price of Brent crude oil. Before the market opens %4Lowered more than ’After experiencing a sharp rise during months of conflict. However, it is still trading above its level before the conflict began.

X-ray of Ibex 35’in: Who leads the gains?

Decrease in geopolitical tensions, revived Investors' appetite for riskAccording to the Spanish reference, it benefits especially banks and large companies such as Inditex:

  • Tourism and airline:IAG (Iberia and Vueling’in %Shares such as 5’e, its upcoming parent company), Meliá Hotels and Amadeus are making dizzying gains. The fall in fuel prices and the return of geopolitical stability raise expectations for the summer season.
  • The banking sector:Major financial institutions (BBVA %3.14 increase, Banco Santander %3.48 increase and Caixabank %1.18 increase) acts as the engine of the index, supported by broad-based optimism and reduced risk of recession.
  • Industrial, consumer, telecommunications and energy companies:Low energy and logistics costs provide some breathing space to the margins of the companies most exposed to commodities. Inditex at the opening of the session %2,07 by Iberdrola %0.30 and Telefónica %It's up 0.68.

Europe joins the market rally

The optimistic mood on the Madrid stock market is also reflected in the rest of the continent's trading centers. Frankfurt’ta Dax, Paris’te CAC 40 and Euro Stoxx 50 open with strong winsWe welcome the disappearance of a risk that threatens to abruptly curb global economic growth in the second half of the year.

Ibex 35 rises to record 19,000 points with Iran deal

On Monday, enthusiasm came to international financial markets following the announcement of an agreement between the Trump administration and the Republic of Iran to end the war in the Middle East’. The Spanish stock market opened as one of the main players of the day. Mountain Goat 35smashed all resistance levels, He broke the new all-time record by exceeding the 19,000 point limit,It reached 19,122 points. With this recent rise, the blue chip index is now accumulating. About the approx. %Increase by 10since the beginning of the year.

Agreement between the U.S. and IranThe Middle East will put an end to the military tensions that are keeping ’ tense and It threatened global macroeconomic stability.

Strait of Hormuz reopens to global trade

The economic cornerstone of the bilateral agreement Strait of HormuzImmediate reopening of ’. This sea channel is one of the most important logistical narrow spots in the world. The fifth one The oil consumed worldwidewith large quantities of consumption and industrial goods.

Closure of this shipping line since the beginning of the conflict Clogged global supply chains and caused crude oil prices to riseReaching unsustainable levels fuels a new fear the inflationary crisis.

The announcement that commercial maritime traffic would continue triggered an automatic drop in the price of Brent crude oil. Before the market opens %4Lowered more than ’After experiencing a sharp rise during months of conflict. However, it is still trading above its level before the conflict began.

Ibex 35 under the microscope: Who leads the gains?

Reduction of geopolitical tensions flares up again Investors' appetite for riskThe Spanish blue chip index benefits banks and large companies such as Inditex, in particular:

  • Tourism and airline:IAG (Iberia and Vueling’in %Shares such as Meliá Hotels and Amadeus, whose parent company is up close to 5’e, are recording huge gains. The fall in fuel prices and the return of geopolitical stability raise expectations for the summer season.
  • The banking system:Major Financial Institutions (BBVA %3.14 increase, Banco Santander %3.48 increase and CaixaBank %1.18 increase) acts as the engine of the index and takes advantage of broad-based optimism and declining recession fears.
  • Industrial, consumer, telecommunication and energy groups:Low energy and logistics costs provide some breathing space to the margins of the companies most exposed to commodities. Inditex at the opening %2,07 by Iberdrola %0.30 and Telefónica %It's up 0.68.

Europe joins the rally on the stock market

The optimistic mood on the Madrid stock exchange is also reflected in other trading centers in the Old Continent of ’. Frankfurt’ta Dax, Paris’te CAC 40 and Euro Stoxx 50 open with strong winsIn the second half of the year, we rejoiced at the end of the risk that threatens to curb global economic growth.

Energy experts warn recovery in oil and gas supplies will be slow after Iran deal

According to energy experts, it will likely take months for energy companies to continue operating and meet global demand. The slow progress in transporting and refining crude oil, as well as uncertainty about safe passage through the strait, means there will be no immediate relief, they said.

Ships laden with crude oil were stranded in the Persian Gulf of ’ for more than three months and were unable to travel safely along the waterway, where about a fifth of the world's oil and gasoline supplies traveled before the war began.

Daniel Evans, global head of fuel and refinery research at S&P Global Energy’, said: "It's going to take time for people to feel comfortable and for insurance to kick in, especially for people to take to the field to restart some of these assets, “ said.

Still, oil prices fell early Monday after the deal was announced.

Brent crude oil, the international standard, fell by $3.45 to $83.89 per barrel. US indicative crude oil 4.03 per barrel $ Decreased by 80.85 $’a is down.

These prices are still well above $70 a barrel, where oil was traded before the war began.

Evans said that with high prices falling, the stranded ships would have to get out of the strait and then new tankers would have to arrive for loading.

“To let a ship in, you need to make sure you have a security window large enough to let it in, load it, and take it out, ” added.

He explained that oil tankers were also moving slowly. It takes months to travel to countries far from the strait, delivering crude oil to a refinery for processing, and then reaching its final destination.

In addition, some producers in the Middle East’ have stopped extracting oil from what is known as a shutdown due to running out of storage space. Restarting these processes can be a slow process.

Alan Gelder, senior vice president of refining, chemicals and oil markets at analysis firm Wood Mackenzie’, said that countries such as the Strait of Hormuz ’, as well as Saudi Arabia and the United Arab Emirates, where there are alternative pipelines or routes for oil distribution, may be among the fastest restarts in production.

But places like Iraq can be much more challenging because they've experienced a much bigger shutdown, areas that are more difficult to get back to, “ said.

Gelder said investments in the energy system, which could take years to see results, came to a halt after the strait was closed. Therefore, the revival of this capital will take time.

Daniel Sternoff, a senior researcher at the Center for Global Energy Policy at Columbia University, said that countries that have stopped oil production will not want to start again until they learn that there is a stable and permanent situation in the strait and that the ceasefire will last for more than 30 or 60 days.

“We don't know what the opening means or what the evacuation speed of the trapped material will be, ” added.

Ukrainian AI fintech startup chooses Doha’ as base after receiving Qatar support

GRO’'s journey to Qatar began at Web Summit Katar’, where the company first connected with local investors.

The initiative, founded by Mariia Shevchenko and a team of Ukrainian and German co-founders, later decided to establish its headquarters in Doha’.

Shevchenko Euronews’e said the company plans to move to Katar’a full-time as it enters the next phase of growth.

“We came here, met investors, and started building relationships, ” said.

This move will support the company's expansion in the Middle East’.

The investment in GRO’ was announced on Thursday with the launch of GrowthX Capital’, a new venture fund aimed at attracting international founders Qatar’a.

The fund's founder, Snoonu CEO, Hamad Al-Hajri, said he plans to invest QAR500 million (€119 million) in startups over the next five years.

The launch event was held at the Qatar Chamber’ and was attended by Qatar Financial Center (QFC) CEO ’ Mansoor Rashid Al-Khater and Dr. Olga Rivina, co-founder and president of the Ukrainian Business Forum’ in Qatar.

Artificial intelligence financial assistant

GRO is developing an AI-powered financial assistant that helps users manage spending, make financial decisions, and improve financial literacy while keeping personal financial data private.

The platform is aimed at both adults and families, and parental control features are also under development.

Privacy remains one of the company's priorities.

Shevchenko said “Must be special for your financial situation”. “We are working intensively on an architecture that will turn it into a closed system.”

He said members of the company's German team brought expertise in privacy and parental control systems.

Ukrainian Ambassador to Qatar Andrii Kuzmenko welcomed the investment, describing it as a sign of growing trade ties between the two countries.

Al-Hajri said he believes GRO’ has the potential to become a “tek unicorn” (a venture worth more than $1 billion (€866 million)) in the future.

UK economy shrinks in April due to negative effects of Iran war energy shock

According to data released by the Office for National Statistics (ONS) on Friday, the UK economy was up in April. %It shrunk by 0.1 percent, ending a monthly growth streak that stretched back to last summer and suggesting that the Iran war was beginning to put pressure on British production.

Services, the dominant sector of the British economy %As 0.2 declined, production remained stable and construction %It's up 0.1. During the three months leading up to April, GDP is still %It grew by 0.7 percent to achieve its fifth consecutive quarterly growth.

The biggest drop in production %It came from sports, entertainment and recreational activities with a decline of 9.1’. The ONS attributed part of the decline to the cancellation of numerous sporting events in the Middle East, which affected the revenues of UK-based businesses in ’.

Consumer services %Retail trading as 0.5 drops %It's down 1.3.

Quilter portfolio manager Stuart Clark said that while “'s three-month growth continues, the first quarter of the year looks like a fake dawn, and conditions will remain tougher for longer as repeated decisions between the U.S. and Iran fail to pass.

Sanjay Raja, Deutsche Bank’'s chief economist in the United Kingdom, also said fuel consumption was approximated by consumer withdrawals. %He said he was down 10.

As the “Iran conflict unfolds, it is clear that the energy shock is beginning to affect households and businesses, Raja said.

Manufacturing was a rare bright spot, increasing by 0.4 percent thanks to pharmaceuticals and base metals; Raja suggested that this could reflect “ firms stockpiling in an environment of high geopolitical uncertainty.

A growing headache for the Bank of England

ONS also provides services for commercial enterprises. Reported that ’ saw the prices of goods they purchased increase in April; This was the highest share since December 2022’, noting the inflationary pressures facing policymakers.

As policymakers weigh in on rising price pressures in the face of slowing signs of economic growth, the figures are likely to complicate the task of the Bank of England, ’.

About the Bank of England, which will announce its next rate decision next Thursday on “, which evokes a sense of stagflation in the economy, the last thing it wants to do is raise interest rates, but that's what's priced while inflation remains the biggest concern for now, ” said.

Expecting further slowdowns in growth, Raja warned “ that activities will continue to slow as real incomes contract due to high energy prices and high market rates begin to consume household budgets more.

Deutsche Bank says the UK economy will continue to grow this year %One expects it to grow, outpacing most of the G7 economies.