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(AWP Alliance News) - US President Donald Trump on Thursday announced the easing of curbs on a group of powerful greenhouse gases commonly found in refrigerators and air conditioners. Republican Trump slammed the 'ridiculous' rules introduced by his Democratic predecessor, president Joe Biden, on super-pollutants known as hydrofluorocarbons. Trump said the move would reduce the cost of living for US consumers. His approval ratings are plummeting as disruption to oil supplies from the Iran war drives up prices. Speaking in the Oval Office, Trump said he was 'officially terminating the Biden administration's ridiculous regulations imposing costly requirements on refrigerators and air conditioners.' 'It's ridiculous, unnecessary and costly and actually makes the machinery worse,' the billionaire president added. Trump's administration is extending deadlines for grocery and other companies to phase out the use of HFCs under a 2023 law, the Environmental Protection Agency said in a statement. It will also amend a 2024 act so that it exempts all road refrigerant appliances used to transport goods from new leak requirements for HFCs, it said. Surrounded by company executives as he sat at his Oval Office desk, Trump said there would be 'no negative impact' from the changes.  'There's no environmental concern,' he said. EPA chief Lee Zeldin said the actions put the brake on a 'rushed, frantic, reckless sprint' by previous administrations to phase out HFCs. The move would save Americans USD2.4 billion in regulations on the greenhouse gases that firms pass on to consumers, the EPA said. The cost of living promises to be the key issue in crucial US midterm elections in November in which Trump's Republicans will be fighting to keep control of Congress. A New York Times/Siena poll released Monday put Trump's approval rating at 37%, the lowest of his second term, with 64% of voters saying the Iran war was a mistake and the same proportion disapproving of his handling of the economy. source: AFP Copyright 2026 Alliance News Ltd. All Rights Reserved.

(AWP Alliance News) - US Secretary of State Marco Rubio voiced hope on Thursday of progress on ending the war with Iran, with mediator Pakistan's army chief due to arrive in the Islamic republic for talks. The expected visit by Field Marshal Asim Munir, a powerful figure with a growing role in Pakistan's foreign relations, comes a day after US President Donald Trump warned that negotiations to end the war were on the 'borderline' between a deal and renewed strikes. 'I believe the Pakistanis will be travelling to Tehran today. So hopefully that'll advance this further,' Rubio told reporters on Thursday. A ceasefire on April 8 halted the war launched weeks earlier by the US and Israel, but negotiation efforts have so far failed to yield a lasting peace agreement. A war of words has taken the place of open conflict, but the impasse continues to weigh on the world economy, leaving everyone from investors to farmers in a painful state of uncertainty. On Thursday, Iran's ISNA news agency said Munir's visit was aimed at continuing 'talks and consultations' with Iranian authorities, without providing details. Other Iranian media carried the same report. Pakistan hosted, in April, the only direct negotiations between US and Iranian officials to take place since February 28, the day the war began. Munir was at the centre of the action during that round of talks, greeting both delegations on their arrival and displaying remarkable bonhomie with US Vice President JD Vance. But the talks ultimately failed, with Iran accusing the US of making 'excessive demands'. Since then, the two sides have exchanged multiple proposals, with the threat of renewed war looming all along. 'It's right on the borderline, believe me,' Trump told reporters Wednesday. 'If we don't get the right answers, it goes very quickly. We're all ready to go.' He said a deal could come 'very quickly' or 'in a few days', but warned Tehran would have to provide '100% good answers'. Rubio also criticised NATO allies for their refusal to help Trump's war against Iran. 'He's not asking them to commit troops. He's not asking them to send their fighter jets in. But they refuse to do anything,' he said. 'We were very upset about that.' Tehran's chief negotiator Mohammad Bagher Ghalibaf on Wednesday accused Washington of seeking to restart the war, warning of a 'forceful response' if Iran were to be attacked. 'The enemy's movements, both overt and clandestine, show that despite economic and political pressure, it has not abandoned its military objectives and is seeking to start a new war,' Ghalibaf said. Iran's foreign ministry spokesman Esmaeil Baqaei said the Islamic republic was examining points received from Washington, while repeating Tehran's demands for the release of its assets frozen abroad and an end to a US naval blockade. Trump is under political pressure at home as energy costs rise. The ceasefire halted the fighting but has not reopened the Strait of Hormuz, the vital waterway that normally carries about a fifth of the world's oil and liquefied natural gas. The future of Hormuz remains a key sticking point in the negotiations, with fears growing that the global economy will feel more pain as pre-war oil stockpiles run down. Iran imposed the blockade of Hormuz as part of its retaliation in the war, allowing only a trickle of vessels through in recent weeks while introducing a toll system. Iran's new body overseeing Hormuz said its claimed area of control extends to Emirati waters, drawing a sharp rebuke from Abu Dhabi. Relations between Iran and the United Arab Emirates have been severely strained since the war, after Tehran launched missile and drone strikes against Gulf countries in response to US-Israeli attacks. Hormuz carries around a third of global fertiliser shipments, raising concerns of higher food prices and shortages if the closure drags on. The UN Food and Agriculture Organisation said the closure could trigger 'a severe global food price crisis' and a 'systemic agrifood shock'. On another front in the war, Lebanese state media reported that an Israeli strike on Thursday damaged a hospital in Lebanon's south. Since a truce began on April 17, Israel has continued to launch strikes, carry out demolitions and issue evacuation orders in south Lebanon, saying it is targeting Hezbollah, which has also kept up attacks. According to Lebanon's health ministry, 16 hospitals have been damaged since March 2, while 116 emergency and health workers have been killed. The ministry said that Israeli attacks have killed at least 3,089 people in Lebanon during the same time. Hezbollah drew Lebanon into the Middle East war with rocket fire at Israel in retaliation for the killing of Iran's supreme leader in US-Israeli strikes. source: AFP Copyright 2026 Alliance News Ltd. All Rights Reserved.

(AWP Alliance News) - The FTSE 100 ended a see-saw session in the green, as rising mining stocks offset disappointing earnings and a higher oil price. The FTSE 100 closed up 11.13 points, 0.1%, at 10,443.47. The FTSE 250 ended up 109.54 points, 0.5%, at 22,947.92, and the AIM All-Share rose 3.83 points, 0.5%, at 796.64. The Cboe UK 100 ended up 0.4% at 1,041.23, the Cboe UK 250 was up 0.7% at 19,877.91, and the Cboe Small Companies Index ended up 0.4% at 18,616.24. Oil prices were back on the rise as International Energy Agency chief Fatih Birol warned oil supplies could be 'entering the red zone' if there is no progress towards resolving the Middle East war and reopening the Strait of Hormuz. Brent crude for July delivery traded higher at USD107.98 a barrel on Thursday, up from USD105.26 at the time of the equities close in London on Wednesday. In addition, Reuters reported that Iran's supreme leader has asserted that the nation's enriched uranium must not be sent abroad. Uranium is a key sticking point in peace talks. US President Donald Trump has described the latest discussions with Iran as being on the 'borderline' between a deal and renewed strikes. Wealth Club analyst Susannah Streeter commented: 'Although there is hope that talks between the US and Iran will bear fruit, after Trump claimed discussions were entering their final stages, neither side seems to be in a rush. 'Amid this uncertainty about where negotiations really do stand, oil prices have started to creep higher after their fall yesterday.' Elsewhere, figures showed the UK private sector slipped into contraction in May, with activity in services declining. The S&P Global flash composite purchasing managers' index fell to 48.5 points in May, a 13-month low, from 52.6 in April. S&P Global Market Intelligence analyst Chris Williamson commented: 'The UK economy is facing a perfect storm, as rising political uncertainty adds to the growing impact from the war in the Middle East. 'Businesses are reporting falling output, surging inflation, supply shortages and job cuts in May.' Rob Wood, chief economist at Pantheon Macroeconomics said a July interest rate hike looks 'unlikely' after the PMI figures completed a set of 'dovish data this week'. 'We hold on to the call for now because we think payrolls will be revised up and the PMI exaggerates weakness because it tends to overreact to political uncertainty. But there is a good chance we will need to push back our rate hike call now,' he said. This week has seen soft UK inflation and labour market data, leaving the Bank of England in a quandary as it assesses the impact of the Middle East crisis. The pound traded at USD1.3401 on Thursday afternoon, down from USD1.3456 on Wednesday. Against the euro, sterling eased to EUR1.1566 from EUR1.1568 on Wednesday. In European equity markets on Thursday, the CAC 40 in Paris ended down 0.4%, and the DAX 40 in Frankfurt fell 0.5%. In New York, the Dow Jones Industrial Average was down 0.3%, the S&P 500 was 0.4% lower, and the Nasdaq Composite dropped 0.6%. Nvidia failed to sparkle, falling 1.9%, despite a signature beat-and-raise after results comfortably topped forecasts. Kate Leaman, chief market analyst at AvaTrade, believes investors are no longer simply focused on Nvidia beating expectations, but on whether the company can continue raising the bar on future guidance. 'The market is no longer impressed by a beat on the quarter. It's all about the next step in the story, and whether guidance can keep outrunning expectations that are already sky-high,' she said. The yield on the US 10-year Treasury widened to 4.62% on Thursday from 4.58% on Wednesday. The yield on the US 30-year Treasury stretched to 5.14% from 5.11%. The euro traded lower against the greenback, at USD1.1587 on Thursday against USD1.1632 on Wednesday. Against the yen, the dollar was trading at JPY159.17, higher than JPY158.69. On the FTSE 100, 3i Group rose 3.3%, continuing its recent volatile run. Miners were prominent gainers with Glencore up 1.4%, Antofagasta up 1.8% and Rio Tinto up 1.9%. Heading south was Autotrader, down 8.9%, after results and guidance missed market expectations, taking the shine off a new share buyback. The Manchester, England-based owner of the UK's largest online automotive marketplace said operating profit increased 4% to GBP392.7 million in the year to March from GBP376.8 million, below the GBP398.7 million company compiled consensus. Revenue ticked up 3.9% to GBP624.3 million from GBP601.1 million, but was also lower than the GBP632.0 million consensus. Citigroup said below-consensus revenue and profit were largely driven by retailer forecourt numbers, which came in softer than expected due to a tougher used car market and ongoing tensions with the Deal Builder product. For financial 2027, Autotader expects operating profit between GBP395 million and GBP415 million, versus the GBP418.3 million consensus. BT eased 4.9%, after its new dividend guidance disappointed against high expectations heading into the print. While on the FTSE 250, Qinetiq jumped 8.9%, as it extended its share buyback and reported strong profit growth supported by a record order intake. Gold traded at USD4,508.26 an ounce on Thursday, down from USD4,536.32 on Wednesday. The biggest risers on the FTSE 100 were 3i Group, up 71.00p at 2,250.00p, SSE, up 72.00p at 2,409.00p, ICG, up 53.00p at 1,886.00p, Babcock International, up 27.00p at 1,066.50p, and Centrica, up 4.20p at 198.95p. The biggest fallers on the FTSE 100 were Autotrader, down 43.70p at 452.60p, Convatec, down 10.60p at 203.60p, BT Group, down 11.40p at 219.50p, Airtel Africa, down 9.00p at 325.20p and Whitbread, down 59.00p at 2,367.00p. Friday's global economic calendar includes PPI and retail sales figures from Canada, German GDP data, and UK consumer confidence, retail sales, and public borrowing numbers. Friday's local corporate calendar has full-year results from Helical. By Jeremy Cutler, Alliance News reporter Comments and questions to newsroom@alliancenews.com Copyright 2026 Alliance News Ltd. All Rights Reserved.