(Sharecast News) - The US military said it had struck three Iranian oil tankers after American warships came under missile attack, warning it would "if necessary, destroy Iran's limited and exposed oil fleet" as tensions in the region escalated. According to the Guardian, citing officials, a US aircraft carrier and a destroyer avoided "multiple unprovoked Iranian attacks" while patrolling, with no injuries reported among US personnel. The Pentagon said two of the tankers were "permanently disabled", while a third, which was unladen, was destroyed. Washington described the vessels as part of a covert network used to finance Iran's Revolutionary Guards and proxy groups operating across the Middle East.
Travellers heading to the EU could face fresh border delays as temporary flexibility measures for the bloc's entry‑exit system expire, according to the Guardian, though several member states were expected not to enforce biometric checks. Airlines last week urged the European Commission to extend powers allowing authorities to pause EES controls until the end of 2026, but the deadline passed on 6 September without action. Industry groups said peak‑season disruption had been avoided only because airports relaxed requirements for fingerprinting and other biometric data from non‑EU citizens. While Brussels has not extended the discretionary period, cross‑Channel travellers to France were unlikely to see immediate changes due to technical issues with the country's EES software.
Jaguar Land Rover will cut 4,000 jobs over the next two years as it deals with the impact of Donald Trump's tariffs and a major cyber attack that shut down production for more than a month, according to the Telegraph. The move was aimed at saving around £1.7bn and marks a significant escalation from the 300 redundancies announced in July. The Tata‑owned carmaker, which employs more than 30,000 people in the UK, has been hit by rising costs and weaker demand. Revenues fell nearly 10% in the first quarter, while pre‑tax profits dropped by two‑thirds to £109m. JLR has also been rocked by the US president's 10% tariff on vehicle imports and a cyber attack estimated to have cost £1.9bn.
Andy Burnham has been warned that Britain was "taxing itself into death" as investors lose faith in the Government's ability to manage public finances. Arthur Laffer, the prominent US economist and former adviser to three presidents, said the UK was "in a death spiral" with "too little growth, too little prosperity", urging ministers not to pursue further tax rises in next month's Budget. According to the Telegraph, Chancellor John Healey was due to set out his approach to growth on Monday, arguing that private‑sector wealth creation was essential for the wider economy. Healey was also expected to stress that fiscal stability and sufficient headroom were needed to withstand future shocks.
Marks & Spencer will cut the price of more than 50 organic products and begin price‑matching rivals including Sainsbury's and Waitrose as it seeks to position itself as a destination for the "big weekly shop", according to the Times. The retailer said reductions of up to £1.60 would make its organic fruit, vegetables, dairy and meat more competitive. M&S was also revamping newer Foodhall stores to include dedicated "organic zones" bringing ambient, fresh and frozen items together. Alex Freudmann, managing director for food, said organic remained "a category with huge potential" and that the changes were aimed at giving shoppers "more reasons to shop with us more often".
Shoppers visiting TG Jones stores preparing to close this month have been met with near‑empty shelves and final clearance sales, as the chain begins shutting dozens of sites across the UK. The Times reported that nineteen TG Jones shops will close in September in locations ranging from Bath to Redcar and Cambridge, with around 130 more to follow in the coming months. The retailer, formerly WH Smith's high‑street arm, will be left with about 300 stores once the restructuring is complete.
Reporting by Iain Gilbert at Sharecast.com