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Iran war driving up costs for UK companies; BP’s new chair suffers investor revolt – business live

Service providers report sharpest acceleration in service sector cost inflation in 30 years, largely due to higher fuel pricesEconomic output across the eurozone has fallen for first time in 16 months, as the Iran war drove up prices.Data provider S&P Global has reported that the eurozone private sector dipped into contraction in April, pulled down by a contraction in the services sector.“With the ongoing conflict in Iran causing concerns over fuel shortages and spiking prices, the downtick may also be driven by consumers beginning to limit their vehicle usage to necessary journeys.” Continue reading...