live Oil prices fall as Iran vows retaliation over U.S. sanctions
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concer...
French President Emmanuel Macron called on Britain and France to “de-risk” their economies from U.S. and Chinese influence during an historic address to the UK parliament on Tuesday, signalling a renewed push for closer European cooperation.
Macron’s speech, delivered to both houses of parliament during a state visit, marked the first such address by a European leader since Brexit and highlighted a symbolic warming of ties under Prime Minister Keir Starmer’s new Labour government.
“The only way to overcome the challenges of our time will be to go together, hand in hand, shoulder to shoulder,” Macron told lawmakers, urging both nations to strengthen cooperation on defence, immigration, climate and technology.
He warned of the “excessive dependencies” on the United States and China, calling for the UK and France to work together to protect European sovereignty and resilience. “We need to de-risk our economies and our societies from this dual dependency,” he said.
The state visit began with a ceremonial welcome by King Charles III, who was joined by Queen Camilla, Prince William and Princess Catherine in Windsor. Charles, who is undergoing cancer treatment, showed signs of fatigue but continued with his engagements. A palace source said a burst blood vessel in his eye was unrelated to his condition and had happened that morning.
Macron also advocated for expanded mobility for students, researchers and artists, and joint efforts on Artificial Intelligence (AI) development and online child protection.
The three-day visit included several cultural and economic exchanges, notably the announcement of a £1.1 billion (€1.2 billion) investment by French energy provider EDF in a UK nuclear power station, and plans to lend the Bayeux Tapestry to Britain for the first time in more than 900 years.
In parallel, UK and France are holding talks on a proposed asylum returns deal aimed at deterring cross-Channel people-smuggling. Britain has proposed a one-for-one returns mechanism, though France has so far resisted bilateral solutions, preferring EU-wide coordination.
Around 20,000 asylum seekers have crossed the English Channel so far this year according to latest figures from the Home Office.
In the first seven days of July last week, 1,135 irregular migrants attempted to cross the sea according to government officials - increasing pressure on Starmer's government, which trails Reform UK in recent polling.
Despite lingering differences, both governments have cooperated closely on Ukraine, with joint plans for a military force to support Kyiv if a ceasefire with Russia is reached.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
Pakistani exporters are facing soaring shipping costs to the U.S., with freight rates more than tripling on some routes as the Iran-U.S. conflict drives up war-risk insurance and fuel costs.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
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