fears

Yields on government debt across European countries and the United States have been rising since the start of the Iran war.

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Investors are demanding higher yields as confidence in the global economy has cratered due to the severe negative impact of the conflict on energy markets, supply chains and Middle Eastern infrastructure.

The 2-year notes, sensitive to near-term rate expectations, have risen faster than their 10-year counterparts in a classic bear-flattening move, while longer-dated yields reflect worries over the economic drag caused by more expensive energy.

Speaking to Euronews, BCA Research’s Chief Fixed Income Strategist, Robert Timper, explained that “the aggressive bear flattening of yield curves reflects a hawkish monetary policy repricing in response to inflation fears stemming from the Iran war”.

“The front-end [2-year yields] is more sensitive to changes in monetary policy and has therefore risen more than the long-end [10-year yields] in response to investors’ anticipation of more hawkish central bank policy,” Timper added.

Historically, this specific curve behaviour often precedes an inverted yield curve, which is a well-recognised indicator of a potential economic recession.

European bonds bear the brunt of the sell-off

The repricing has been most pronounced in Europe, with the UK bond market feeling the biggest pressure.

Since the start of the conflict, the 10-year UK gilt yield has risen from 4.2% to a high of over 5% while the 2-year note yield jumped from 3.5% to a peak of 4.6%.

Timper explained to Euronews that past inflation experience has proved decisive, stating that “rate hikes in the UK are more likely than elsewhere because inflation has been more elevated than elsewhere, and the risk of inflation expectations unanchoring is therefore higher.”

On Wednesday, AJ Bell’s investment director Russ Mould highlighted the UK-specific implications in a detailed press release, noting that the 10-year gilt yield is hovering near 5% for only the third time since 2008 while the 2-year gilt yield comfortably exceeds the Bank of England base rate.

Mould also explained that the gap between the 10-year gilt yield and the FTSE 100 dividend yield has widened to more than one-and-a-half percentage points, making UK equities relatively less attractive.

Elsewhere in Europe, bond yields experienced similar surges.

Germany’s 10-year bund yield increased from 2.65% to around 3%, nearing 15-year highs, while the 2-year note yield climbed from roughly 2% to 2.65%.

In France, the 10-year OAT yield jumped from 3.2% to above 3.7%, approaching 17-year peaks, while the 2-year note yield has risen from 2.1% to over 2.8%.

As for Italy, the 10-year BTP yield was at around 3.3% before the Iran war and has now surpassed 3.9%, approaching two-year highs, while the 2-year note yield has increased from roughly 2.15% to 3%.

In every single one of these bond markets, the yield on the 2-year notes has risen faster than their 10-year counterparts.

The 30 and 20-year bond yields are also all trading higher which denotes deteriorating confidence in the long-term growth prospect of the respective European economies.

US Treasuries face comparable headwinds

Across the Atlantic, US Treasuries have followed a similar trajectory, though the sell-off has been less severe than in the UK for example.

The 10-year note yield has risen from around 3.9% to a peak of 4.4%, reached on Monday, and is currently trading at 4.37%.

Meanwhile, the 2-year note yield increased from 3.35% to a high of over 4%, and it is hovering 3.9% at the time of writing.

The yields on both notes have hit an 8-month high.

Timper’s analysis places US bond performance close to that of the euro area, reflecting broadly comparable inflation histories and policy outlooks. There is scant evidence of investors fleeing European bonds for US Treasuries as a safe-haven trade.

Speaking to Euronews, Timper explained that such shifting flows would be more visible in currency markets as the US dollar benefits from being the predominant denominator for energy exports.

For now the message from bond markets on either side of the Atlantic is consistent, the Middle East conflict has rewritten the near-term outlook for inflation, monetary policy and borrowing costs.

This Morning star Sharon Marshall has spoken out for the first time, revealing she was taken to hospital in an ambulance after her severe hay fever saw her almost go into cardiac arrest

This Morning star Sharon Marshall has revealed for the first time her terrifying health ordeal, as she was carted off in an ambulance over fears she was in cardiac arrest – but she was actually suffering from hay fever.

Sharon, 54, spoke candidly about how her complex hay fever – which was misdiagnosed as adult asthma – once saw her collapse in the doctors office, which lead her to being rushed to hospital in an ambulance as paramedics feared she was going into cardiac arrest. The Queen of Soaps sat on the This Morning sofa today to reveal her complex health woes and how the ordeal unfolded.

Speaking to Ben Shephard and Cat Deeley on the This Morning sofa, alongside Professor Adam Fox, Sharon revealed she got ill when she was training to run the marathon and initially ruled out symptoms as being unfit. She recalled waking up in the middle of the night not being able to breathe – which Sharon didn’t realise was an asthma attack at the time.

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Sharon explained that the ordeal happened in the middle of the night so she decided to wait until the morning to see the doctor. She recalled: “I remember sort of waiting until nine o’clock, ringing the doctor’s surgery and they were like, ‘oh God, come in immediately,’ going out the flat and luckily a black cab came past, got me in the back, took me in and he helped me to the door. And I don’t really remember much past that because I just collapsed in the doctor’s surgery and I came round in the back of an ambulance.”

She continued: “I said, ‘Oh what’s happening’ and they said, ‘we’re taking you to hospital’ and my first reaction was, ‘will I be going back’ and I they said, ‘No probably not’ and I said, ‘well can I just go by the house and feed my cat’. And this lovely guy who was just saying: ‘You’re going into cardiac arrest, we’re trying to take you into hospital to save your life no you can’t feed your cat’.”

Sharon stayed in hospital for a week but doctors struggled to get to the root cause. Sharon was then diagnosed with adult onset asthma. She explained: “So for years and years, I started taking asthma inhaler and then every year, not realising pollen season would come around and I would start getting asthmatic again. I was on the strongest asthma inhaler every single day. I was going through an asthma inhaler set in a week – horrible steHowever, Sharon revealed that every spring she would continue to get “really breathless and really ill”. Sharon continuned to go to the doctors in search for more answers and even struggled to wak up the stairs in the doctor’s surgery.

At one point, Sharon was even tested for lung cancer. She revealed: “So every year it was just this terrifying thing of, ‘I can’t breathe’ – stronger and stronger steroids and asthma inhalers.” Sharon revealed a visit to the This Morning studios changed her health for good.

Sharon had come into the studio and struggled to breathe while having her makeup done, which saw the crew call a medic as she was going into another asthma attack.

She added: “And, lukcily, in the studio, doing an item about allergies was our lovely professor here, who was able to work out, ‘Oh there’s a time of year that this seems to be happening’.”roids, Mysoline [an anticonvulsant medication] and all these things.”

However, Sharon revealed that every spring she would continue to get “really breathless and really ill”. Sharon continuned to go to the doctors in search for more answers and even struggled to wak up the stairs in the doctor’s surgery.

At one point, Sharon was even tested for lung cancer. She revealed: “So every year it was just this terrifying thing of, ‘I can’t breathe’ – stronger and stronger steroids and asthma inhalers.” Sharon revealed a visit to the This Morning studios changed her health for good.

Sharon had come into the studio and struggled to breathe while having her makeup done, which saw the crew call a medic as she was going into another asthma attack.

She added: “And, luckily, in the studio, doing an item about allergies was our lovely professor here, who was able to work out, ‘Oh there’s a time of year that this seems to be happening’.”

Professor Adam then explained Sharon has seasonal allergic asthma. Professor Adam then explained: “So the problem isn’t chronic all the time asthma, it’s just that when your hay fever is bad enough, if you imagine the lining of your nose is connected to the lining of your lungs. So if your upper airway because of the hayfever is really angry, can send really angry signals down to your lower airway, your lungs, and give you what listens will be an asthma attack. And of course, that can be very, very severe.”

Professor Adam then explained: “So the problem isn’t chronic all the time asthma, it’s just that when your hay fever is bad enough, if you imagine the lining of your nose is connected to the lining of your lungs. So if your upper airway because of the hayfever is really angry, can send really angry signals down to your lower airway, your lungs, and give you what listens will be an asthma attack. And of course, that can be very, very severe.”

Professor Adam then explained Sharon was then treated using ‘desensitisation’, which is a treatment that retrains to immune system to tolerate pollen. Sharon said of the new treatment: “It’s miraculous, it’s completely life changing.”

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Lebanon fears that Israel’s attack on Qasmiyeh Bridge, a key crossing linking the south to the rest of the country, could be a “prelude to a ground invasion”. The damage caused in the attack could cut off access for civilians, aid and supplies.

IMPERIAL — Whenever the weather changes suddenly, or the skyline becomes shrouded in a windy haze, Fernanda Camarillo braces herself for an asthma attack.

Her condition has become more manageable, but the 27-year-old said it’s still scary when her chest tightens and she starts to wheeze. It was one of her first thoughts when she heard about plans to develop a massive data center next to her home in Imperial County, a farming community near the border of Mexico that struggles with poor air quality.

“A lot of people in the county are asthmatic,” she said, explaining that she worries the new center would add more pollution. “I’ve been anxious — so many of us are voicing our concerns.”

Data centers have existed for decades but are rapidly changing and expanding due to the worldwide boom in artificial intelligence, or AI as it’s known. States and communities nationwide have started pushing back, citing concerns that the projects could strain power grids, increase utility bills and have negative health and environmental impacts.

In California, state legislators are debating how to protect residents and natural resources without creating so much red tape that developers go elsewhere, taking their jobs and taxable earnings with them.

No Data Center signs are posted in the front yard of a home that is right behind the proposed site.

“We can be supportive of innovation and a technology that is needed but also protect our communities and our health and our environment,” said state Sen. Steve Padilla (D-San Diego). “We can do both at the same time.”

The California Legislature is considering bills to prohibit the projects from being exempted from the state’s stringent environmental law and to impose new tariffs on new major energy users that strain power supplies. Lawmakers also have proposed restrictions on new data centers, requiring companies to provide verifiable estimates on expected water and energy usage before they can be granted a business permit.

Imperial resident Fernanda Camarillo, who is an asthmatic, holds some of her medications.

Members of Congress also expressed concerns. Rep. Ro Khanna, speaking at a town hall about AI last month at Stanford University, said legislators must ensure data centers serve the communities that power them.

“We live in a new gilded age,” said Khanna (D-Fremont). “What kind of future are we going to build?”

::

Eric Masanet, a professor at UC Santa Barbara specializing in sustainability science for emerging technologies, described the facilities as the “brains” of the internet. The sprawling centers are filled with banks of specialized computers that process online shopping orders, stream movies, host websites, encode Zoom and other videoconferencing apps, store data and serve as switching stations for the digital world that’s now woven into daily life.

Data centers, particularly those that power AI, use significant amounts of water and energy. The facilities accounted for about 4.4% of the nation’s total electricity consumption in 2023, up from 1.9% in 2018, according to a report provided to Congress from the Lawrence Berkeley National Laboratory. The researchers projected that figure will reach 6.7% to 12% by 2028.

Many companies, including big tech giants like Meta, Google and Amazon, are making major investments in AI.

“We are building a lot more data centers faster than we ever did — and a new AI data center is 10 to 20, maybe 30 times, the size of the largest data centers we had before,” Masanet said.

The proposed site of the 950,00-square-foot data center is on a dusty parcel that is next to the Victoria Ranch housing community and adjacent to farmland in Imperial, Calif.

It’s unclear how many data centers are in the state. A California Energy Commission spokesperson told the Los Angeles Times it does not track this information. Data Center Map, a nongovernmental website that tracks data centers across the world, lists 289 facilities in California, with more than 4,000 nationwide.

The federal government has, so far, largely left it to states or localities to regulate data centers.

The facilities can generate significant revenue for local governments due to sales and property taxes.

But some new proposals are sparking a backlash. More than 200 community and environmental organizations, including a dozen from California, sent an open letter to Congress in December calling for a national moratorium on new data centers.

Robert Gould, a pathologist with San Francisco Bay Physicians for Social Responsibility, one of the organizations that signed the letter, explained data centers are causing a shift away from renewable energy and back toward fossil fuels because the facilities need a reliable and constant stream of power.

Cornell University researchers last year estimated that AI growth could add 24 to 44 million metric tons of carbon dioxide to the atmosphere annually by 2030, unless steps are taken to change course.

Gould said fossil fuel emissions are associated with various cancers, an increase in hospitalizations for older adults due to respiratory conditions, and asthma attacks or stunted lung growth in children. Particulate matter from fossil fuel emissions is also linked to cardiovascular events and negative effects on maternal fetal health.

Gould’s organization has noticed an alarming trend.

“These are generally placed in communities that are the least able to defend themselves,” he said.

Farmworkers toil in the noon heat to pick vegetables in Imperial. Agriculture is an important part of the Imperial Valley economy.

::

The debate over data centers is heating up in the Imperial Valley, a rural desert region in southeastern California where a proposed center faces fierce opposition from residents.

The county in 2025 granted the project an exemption for the California Environmental Quality Act, known as CEQA. The landmark 56-year-old state law has been credited with helping to preserve California’s natural beauty and protecting communities from hazardous impacts of construction projects — but also blamed for stymieing construction.

Imperial Valley Computer Manufacturing, a California-based limited liability company that started two years ago, plans to develop a 950,000-square-foot facility in the county that’s designed for advanced artificial intelligence and machine learning operations. The company says it will use reclaimed wastewater and EPA-certified natural gas generators, and create 2,500 to 3,500 construction jobs and 100 to 200 permanent positions.

“We are committed to Imperial County and to creating lasting economic opportunity,” the company website states. “The project will generate $28.75 million in annual property tax revenue for local schools, fire departments, libraries, and essential services.”

The Imperial County Board of Supervisors is moving toward finalizing the proposal.

Farmland spreads out in front of the Imperial Valley Fair near a proposed data center in Imperial.

Sebastian Rucci, an attorney and chief executive officer of Imperial Valley Computer Manufacturing, said he commissioned multiple studies assessing the proposed center’s potential effect on issues like traffic or the environment that found no or minimal harms. He threatened to pull his proposal if a CEQA review was required.

“CEQA leaves you in an unknown territory — some of the environmental groups have used it for extortion, they sue, they have no basis for the suit but they delay you, and then they can squeeze money out of you for settling the lawsuit,” said Rucci.

The exemption, however, has alarmed residents, who have spoken up at county board meetings and launched a community organization, Not in My Backyard Imperial, to protest the data center and demand a CEQA review.

“It feels like it’s us against the county,” said Camarillo, adding that many feel the board has dismissed their questions and concerns.

None of the Imperial County Board of Supervisors responded to requests for comment.

Resident Fernanda Camarillo’s home is right behind the proposed site of the data center in Imperial.

The center would be a neighbor to Camarillo’s house in Victoria Ranch, a family-friendly area with beige stucco homes topped with terracotta tile roofs. She worries about noise, pollution and spiking utility bills. Power companies that have to upgrade grids to meet data centers’ energy demands sometimes seek to recoup that cost by hiking up rates for all consumers.

Camarillo, a substitute teacher, is also scared for her students. The air quality in Imperial Valley is already so poor that schools use a system of color-coded flags to signal whether it’s safe for children to go outside during gym or recess, she said.

“I think they see [the valley] as easy pickings because we are a low-income community and we have such a large population of Latinos here,” Camarillo said.

A quick drive around the neighborhood shows others share her concerns. Signs protesting the data center pop up throughout the community, displayed on front lawns or nestled into rocky garden beds.

Victoria Ranch was quiet and peaceful on a sunny Sunday in late February. Francisco Leal, a resident and lead organizer for NIMBY Imperial, said that’s a major part of its appeal.

The colorful dusk sky hovers over a Little League baseball game at Freddie White Park in Imperial. The debate over data centers is heating up in the Imperial Valley, a rural desert region in southeastern California.

Leal wants answers about everything from potential health hazards and impacts on the local water supply to whether the fire department is equipped to handle a large-scale electrical blaze. But without a CEQA review, he says residents are left to trust assurances from the developer or privately hired consultants.

Leal plans to sell his property if the project goes forward, but the thought makes him emotional.

“It’s not just a house; it’s a home,” he said. “This is the only home my kids have ever known and all of our family memories are here.”

Gina Snow, another resident, isn’t necessarily against bringing a data center to the county. But she wants the proposal to undergo a CEQA review.

“Clearly we understand that there is economic development and the potential for that to be positive for the county, but at what cost?” she said.

Daniela Flores, executive director of Imperial Valley Equity and Justice, a nonprofit that works for social and environmental equality, stands on the site of the proposed data center.

::

Daniela Flores, executive director of Imperial Valley Equity and Justice, a nonprofit that works for social and environmental equality, said the community has good reason to be wary. Various industries have come into the region over the years and made grand promises that never panned out.

“We became a sacrifice zone,” she said, adding industries use the area’s resources while ultimately doing little to permanently improve the lives of most residents.

Flores said the community continues to struggle with a range of problems, including poor air quality, high poverty rates, weak worker protections and crumbling infrastructure. She believes a data center could add new and potentially dangerous challenges.

The valley has long, brutal summers with temperatures that swell to 120 degrees. If the data center strains the grid and causes a lengthy blackout, or low-income residents have their power shut off because they can’t afford the rising bills, Flores fears the situation could quickly turn deadly.

The city of Imperial also has concerns. The city has filed a lawsuit calling on the county to halt the project, arguing it should not have received a CEQA exemption.

The controversy has drawn attention from Padilla, whose district includes Imperial Valley. Padilla has echoed residents’ calls for more transparency from the county and introduced Senate Bill 887, which would ban data centers from receiving exemptions from CEQA.

“I am not anti-data center or anti-artificial intelligence,” Padilla said. But, he added, we need to “find a way to do this right and make sure there is adequate review and understanding.”

A dusty haze settles over the city of Imperial at dusk near the site of a proposed data center.

Another measure from Padilla, Senate Bill 886, would direct the Public Utilities Commission to create an electrical corporation tariff to cover the cost of data center-related grid upgrades.

Other related legislation this year includes Assembly Bill 2619 from Assemblymember Diane Papan (D-San Mateo) that would require data center owners to provide an estimate about expected water usage and sources before applying for a business license, and Assembly Bill 1577, by Assemblymember Rebecca Bauer-Kahan (D-Orinda), which would require data center owners to submit monthly information to a state commission about water and fuel consumption and energy efficiency.

While lawmakers weigh new policies at the statehouse, Camarillo said she hopes the priority will be protecting communities.

“Innovation is important, but innovation for the sake of innovation has never really been something that hasn’t had negative impacts,” she said. “Think about human lives.”

Asian stock markets saw major declines on Monday as gold futures dropped 8% and crude oil prices continued to climb amid heightened uncertainty in the Middle East.

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As the effective closure of the Strait of Hormuz continues to choke global supply, benchmark US crude rose above $100 a barrel on Monday morning in Europe.

Brent crude, the international standard, went up to more than $113 a barrel. The price of Brent crude has zigzagged lately from about $70 per barrel before the war began to as high as $119.50.

European stock indexes opened with losses, with the FTSE in London losing 1.5%, the CAC-40 in Paris being down by 1.6%, and the DAX in Frankfurt dropping by 2% at the opening.

Earlier on Monday, the International Energy Agency warned that the global economy faces a “major, major threat” because of the Iran war and that at least 40 energy assets across nine countries were damaged.

Meanwhile, the de-escalation of the conflict is nowhere near in sight.

Trump warned over the weekend that the US would “obliterate” Iran’s power plants if it does not fully open the Strait of Hormuz within 48 hours, prompting Tehran to say it would respond to any such strike with attacks on US and Israeli energy and infrastructure assets in the region.

“Trump’s ultimatum and Iran’s retaliatory warnings point to a widening conflict that keeps energy disruption and market volatility elevated, with no clear off-ramp in sight,” said Ng Jing Wen, analyst at Mizuho Bank in Singapore.

In Europe, the benchmark natural gas futures were trading above €60 per MWh at the market open.

This follows last week’s gains as escalating threats to Middle Eastern energy facilities heightened fears of deeper supply disruptions.

In Asia, stock markets were also significantly impacted by the uncertainty around the Middle East crisis, with Japan’s benchmark Nikkei 225 dropping 3.5%. In Taiwan, the Taiex shed 2.5%, South Korea’s Kospi dropped 6.5%, Hong Kong’s Hang Seng slipped 3.8% and the Shanghai Composite declined 3.6%.

Higher oil prices, which also shook stock markets on Friday, dashed hopes for a possible upcoming cut in interest rates by the Federal Reserve, analysts said. Before the war, traders were betting that the Fed would cut rates at least twice this year. Central banks in Europe, Japan and the United Kingdom also recently held their interest rates steady.

The S&P 500 fell 1.5% Friday to close its fourth straight losing week, its longest such streak in a year.

The Dow Jones Industrial Average dropped 443 points, or 1%, and the Nasdaq Composite tumbled 2%.

On Wall Street, roughly three out of every four stocks in the S&P 500 fell on Friday.

Stocks of smaller companies, which can feel the pinch of higher interest rates more than their bigger rivals, led the way lower. The Russell 2000 index of smaller stocks fell a market-leading 2.3%.

In the bond market, the yield on the 10-year Treasury finished last week with a jump to 4.38% Friday from 4.25% late Thursday and from just 3.97% before the war started.

The two-year Treasury yield, which more closely tracks expectations for what the Fed might do, rose to 3.88% from 3.79%.

In currency trading, the US dollar rose to 159.53 Japanese yen from 159.22 yen. The euro cost $1.1526, down from $1.1571.

PREGNANT Sophie Kasaei revealed every day feels like a living nightmare as boyfriend Jordan Brook battles viral meningitis.

The Towie star, 31, has been in hospital for two weeks and has swelling on the brain after falling ill with the serious condition.

Worried Sophie, 36, was only able to see Jordan for the first time two days ago following his admission and admits she’s never felt so much fear as he goes through treatment.

Alongside loved-up photos of them together, she wrote on Instagram: “Life can come at you really fast. Literally in the blink of an eye.

“One minute you’re dreaming about your future together… and the next, you’re sitting in a hospital room, holding onto hope with everything you have.

“Watching the person I love in pain and fear, something I can’t fight for them is the hardest thing I’ve ever known. And through all this I’m carrying the tiniest piece of us, a reminder that even in the darkest moments, life is still growing, still holding on.”

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Sophie continued: “I never imagined I’d feel this much fear and this much love all at once. Life really can change in the blink of an eye. Please don’t take a single moment, a single person, for granted.

“Everyday I fall in love with you more and more @jordanbrook11 this whole thing feels like I’m living in a nightmare waiting to be woke up by you next to me in bed but I’m just grateful your here and fighting for your family.

“Our little baby boy is what is keeping this family going. I love you @jordanbrook11.”

Jordan replied in the comments and vowed he would give everything to recover.

“My darling girl,” he wrote. “I can’t thank you enough for the strength to help me battle this. I will not give up on us.

“I love you more and more every single day.

“‘This too Shal pass’ – we will smile again with our special boy and family.”

The devastating diagnosis came months after the couple revealed they were expecting their first baby after two years of IVF treatment.

They were supported by friends and fans in the comments, who were moved by their situation.

Love Island‘s Shaughna Phillips said: “So beautifully written Soph, thinking of you both and wishing Jordan a super speedy recovery xxxx.”

Geordie Shore‘s Chloe Ferry left loveheart emojis, while Scarlett Moffatt said: “Sending love and strength.”

Jordan was rushed to hospital earlier this month after falling seriously ill with a mystery illness now known to be viral meningitis and encephalitis.

The conditions are potentially life threatening, causing inflammation of the brain and spinal cord lining.

In a video posted from his hospital bed, Jordan said: “This is the first time I’ve really been able to speak strong enough about what’s going on.

“I’ve been diagnosed with not one but two joining viruses that are attacking a similar part of my body. I have got viral meningitis and encephalitis together.

“That’s the inflammation of the brain and the lining around it. So this isn’t something small or minor.”

He has had CT scans, MRI lumbar scans, and lumbar punctures — the extraction of cerebrospinal fluid from the lower vertebrae — to find out what is wrong.

Jordan continued: “I’m on IV drips, everything antiviral, pain management, physio, seizure monitoring, to minimise seizure risk at the minute.”

The star added: “But unfortunately the swelling on my brain is getting worse. Really, really tough, even with the simple day-to-day activities and normal things that aren’t easy right now. 

“So this is what I’m dealing with day-today.”

JESSIE J has been rushed to hospital following a car injury which left her with fears she’d ‘broken her neck’.

The singer, 37, has undergone an MRI scan following the incident as she updated fans on her health scare.

Jessie is currently in China for her No Secrets Tour and suffered an unlikely injury after hitting her head on the roof of a car. 

Taking to Instagram, the Price Tag hitmaker shared a clip of her climbing into a black vehicle at her latest concert, whilst admitting she “didn’t mind squashing in the back”.

The video then cuts to Jessie in hospital undergoing an MRI scan after suffering the neck injury.

In an additional update, whilst backstage at one of her shows, Jessie goes on to relay the severity of her condition. 

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She said: “Yeah, I just can’t move my head. I’m alright. I’ll just have to take some painkillers and march right through it.”

“I thought I’d broken my neck, but I haven’t. But I have really hurt my neck and my back.”

Later, shots show the star trying on a stunning gold jumpsuit and embracing her young son Sky. 

Jessie didn’t let the injury stop her putting on a stellar performance as she’s filmed singing her iconic tracks on stage.

Fans flocked to the comments with messages of love and well wishes for the singer.

One user penned: “Take care of yourself (heart emoji)”

“And yet nobody noticed until you told us you hurt yourself!! POPSTARRRR mode was activated,” added another.

A third chimed: “Feel better soon girl you are such a vibe even if you are in pain such an awesome human being.”

“Sending you lots of love and light (heart emoji)” wrote a fourth.

The music star was diagnosed with breast cancer last year and shared news of her early-stage diagnosis publicly via social media in June 2025.

Jessie underwent two surgeries during her health battle, which included a mastectomy that same year.

In August, she was taken to hospital with an infection and fluid on her lungs six weeks post-surgery.

But the star now seems to be doing well and is back performing shows just under a year since her diagnosis.

It was no surprise when Joe Kent showed up on Tucker Carlson’s podcast a day after quitting his counterterrorism job in President Trump’s administration. Here was a top official who resigned to protest the war with Iran turning to right-wing media’s leading critic of the conflict.

“The Israelis drove the decision to take this action,” Kent said in Wednesday’s interview.

But before long, the conversation moved in a different direction as Kent nodded to conspiracy theories that pro-Israel forces were behind the assassination of conservative activist Charlie Kirk.

“I’m saying there are unanswered questions,” Kent said.

The conversation encapsulated two schisms within the Republican Party and the right-wing media system, both of which have reached high into the national security establishment of the Trump administration.

There’s a foreign policy debate over the wisdom of Trump’s war with Iran and the future of the United States’ longstanding alliance with Israel.

But there also are fears that the focus on Israel is the leading edge of an antisemitic fringe that has gained ground by portraying Jews as shadowy manipulators, echoing some of history’s most hateful tropes.

Tucker Carlson is playing a central role

At the center of both issues is Carlson, a former Fox News host who remains influential among conservatives. He was previously denounced for hosting Nick Fuentes, a white nationalist and antisemite, on his podcast last year. During the interview, Fuentes complained about “organized Jewry in America.”

On Wednesday, Carlson was sharply critical about Israel, saying “its lobbying in the United States pressured the president.”

Matt Brooks, president of the Republican Jewish Coalition, described Kent’s appearance on Carlson’s podcast as “part of an ongoing problem.”

He noted that his group opposed Kent’s nomination as director of the National Counterterrorism Center because of ties to right-wing extremism. Trump ignored those concerns even though, as he said after Kent’s resignation, “I always thought he was weak on security” and “I didn’t know him well.”

Kent’s resignation letter trafficked in antisemitic conspiracy theories while raising concerns about the war with Iran.

He blamed “high-ranking Israeli officials and influential members of the American media” for encouraging conflict. Indeed, Israeli leaders including Prime Minister Benjamin Netanyahu encouraged Trump to join forces in an attack on Iran.

But Kent also went further, saying it’s “the same tactic the Israelis used to draw us into the disastrous Iraq war.” He also said his wife, a Navy cryptologist who was killed by a suicide bomber in Syria, died “in a war manufactured by Israel.”

Sen. Mitch McConnell, a Kentucky Republican, described the letter as “virulent antisemitism.” Rep. Josh Gottheimer, a New Jersey Democrat, said “scapegoating Israel isn’t just a tired antisemitic trope — it’s anti-American.”

Kent has previously rejected all forms of “racism and bigotry.”

Trump has said nothing about Kent’s remarks on Israel. He previously disputed the idea that Israel pushed him toward war, saying, “I might have forced their hand.”

Unified Republican support for Israel has fractured

Questions about Israeli influence are not unique to right-wing circles. Progressives have also faced accusations of antisemitism for their response to the war in Gaza, which began with an attack by Hamas on Oct. 7, 2023.

But it’s been a widening fault line within the Republican Party, which has been a bedrock of support for Israel over the years. Conservatives are still reckoning with the fallout from Carlson’s interview with Fuentes.

For example, board members and other staff members resigned from the Heritage Foundation after the think tank’s president defended Carlson.

Trump tried to sidestep the issue, declining to criticize Fuentes and praising Carlson for having “said good things about me over the years.” The president previously dined with Fuentes at his Mar-a-Lago estate in Palm Beach, Fla., between his two terms, and Carlson has continued to visit the White House.

Mort Klein, president of the conservative Jewish group the Zionist Organization of America, said Wednesday that he supports Trump but “I’d like him to do more” about antisemitism.

“I want him to be stronger on those issues,” Klein said.

Carlson has said that he is not antisemitic. But he has said that anti-Jewish hate is less pervasive in society than bias against white people and that some Christian politicians who were fervent supporters of Israel were guilty of heresy.

The Iran war is poised to continue fracturing right-wing media.

Ben Shapiro, co-founder of The Daily Wire, called Carlson’s Fuentes interview “an act of moral imbecility” and accused the host of misleading his audience with falsehoods and conspiracy theories.

He’s also feuded with Candace Owens, who has promoted antisemitic conspiracy theories. Dennis Prager, a conservative commentator, wrote in an open letter to Owens that “I cannot think of anyone in public life engendering as much suspicion of Jews, Zionism and Israel as you.”

Megyn Kelly, like Carlson a former Fox News Channel anchor now helming her own independent media empire, said the war was sold to the American people by “Israel firsters, like Mark Levin.” Levin, a radio and Fox personality, has been among Trump’s most fervent supporters of the war.

Levin, for his part, called Kelly an “emotionally unhinged, lewd and petulant wreck.”

It promises to continue.

Levin posted on social media an invitation to Kent to appear on his show in the coming days.

“Sure,” Kent replied. “Let’s go.”

Beaumont and Bauder write for the Associated Press.

March 16 (Asia Today) — This commentary is the Asia Today Editor’s Op-Ed.

International oil prices and South Korea’s currency are rising sharply again as the Middle East conflict intensifies, raising growing concerns that the country could slide into stagflation.

On March 13, global crude prices climbed back above $100 per barrel, while the Korean won weakened beyond 1,500 per U.S. dollar in overnight trading. The simultaneous surge in energy prices and the exchange rate has heightened fears that South Korea could face a worst-case scenario in which economic growth slows while inflation accelerates.

Such developments threaten to derail the government’s economic targets for the year – about 2% growth and inflation in the 2% range – making emergency policy responses increasingly urgent.

Brent crude futures for May delivery closed at $103.14 per barrel, up 2.7% from the previous day. It was the first time Brent crude exceeded $100 since August 2022.

U.S. West Texas Intermediate (WTI) crude futures settled at $98.71 per barrel, approaching the $100 threshold. Meanwhile, Dubai crude, the benchmark most relevant to South Korea’s imports, surged to $123.50 per barrel, up $34.60 from the previous week.

As oil prices surged, investors turned toward the U.S. dollar as a safe-haven asset. The won-dollar exchange rate closed at 1,497.5 won per dollar in overnight trading, up 16.3 won from the regular daytime session. During trading, the rate briefly rose to 1,500.9 won, crossing the psychologically important 1,500 level for the first time in seven trading days.

The twin surge in oil prices and the exchange rate has been driven largely by escalating tensions in the Middle East.

Iran has openly threatened to block the Strait of Hormuz, a critical chokepoint through which about 20% of the world’s crude oil supply passes. Iran’s new supreme leader, Mojtaba Khamenei, declared a prolonged confrontation in his first official statement on March 12, saying Tehran should continue using the possibility of a Hormuz blockade as leverage against the United States and Israel.

Oil prices, which had briefly stabilized after U.S. President Donald Trump suggested the conflict might end soon, surged again following the statement.

Tensions escalated further after the United States launched airstrikes on Kharg Island, Iran’s largest oil export hub, on March 13. Iran retaliated by attacking the Fujairah port in the United Arab Emirates, a key oil-export route that bypasses the Strait of Hormuz, putting global energy supply chains on alert.

Trump has also urged five countries – including South Korea, China and Japan – to dispatch naval vessels to the Strait of Hormuz, pushing regional military tensions to a new peak.

Economic analysts warn the shock could have serious consequences for South Korea’s economy.

The Korea Development Institute (KDI) warned last week that rising oil prices linked to the Middle East conflict would increase inflationary pressure while weakening economic growth.

The Hyundai Research Institute estimated that if oil prices climb to $150 per barrel, South Korea’s economic growth rate could fall by 0.8 percentage points.

The government is considering a supplementary budget of 10 trillion to 20 trillion won ($7.5 billion to $15 billion) and temporary fuel tax cuts. However, these measures would only offer short-term relief.

A more fundamental solution lies in reducing South Korea’s heavy reliance on Middle Eastern crude oil, which accounted for 69% of total imports last year. Diversifying energy sources by expanding imports from countries such as Brazil and Norway should be pursued urgently.

The government must mobilize every available policy tool – including measures to stimulate domestic demand – to prevent what could become the fourth Middle East-driven oil shock from pushing the economy into stagflation.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260315010004332

The surge in oil prices triggered by the war in Iran is increasingly becoming a major concern for global central banks, which are closely monitoring the potential economic and financial consequences of the shock.

More than a week of conflict in the Middle East has disrupted energy supply routes and pushed crude prices sharply higher, raising fresh fears about inflation. For policymakers already grappling with fragile economic conditions, the oil spike presents a complex policy dilemma.

Historically, oil shocks have posed a difficult challenge for central banks. Rising energy prices can drive inflation higher while simultaneously weakening consumer spending and business activity by raising costs. In such circumstances, policymakers face an uncomfortable choice: tighten policy to control inflation or ease financial conditions to support economic growth and employment.

The current situation could potentially produce both outcomes at once, creating a scenario where inflation rises even as economic demand weakens a combination that complicates monetary policy decisions.

Inflation Versus Economic Growth

Central banks traditionally respond to inflationary pressures by raising interest rates or maintaining tighter monetary policy. Some policymakers argue that responding quickly to inflation triggered by an oil shock can prevent inflation expectations from becoming entrenched and reduce longer-term economic damage.

Others, however, advocate “looking through” temporary energy-driven price spikes, arguing that aggressive tightening could unnecessarily damage economic growth. This approach gained prominence after the pandemic, when many central banks initially viewed inflation as temporary a judgment widely criticised in hindsight.

The decision facing policymakers now depends on several uncertainties, including how long the conflict lasts, how severely energy supplies are disrupted, and whether governments intervene with subsidies or price caps to protect consumers.

Given these unknowns, many central banks may prefer to adopt a cautious approach, waiting to see how markets and economic conditions evolve before making significant policy adjustments.

Financial Stability Risks Enter the Picture

Beyond inflation and growth concerns, central banks must also consider a third responsibility that has gained prominence since the global financial crisis: financial stability.

Senior policymakers worry that the oil shock could expose vulnerabilities that have been building in global financial markets for years. A large macroeconomic disturbance involving energy prices, inflation, interest rates and currency volatility could trigger a broader financial stress event.

Much of the concern centres on the growing role of “shadow banking” institutions, financial intermediaries operating outside traditional banking regulation. These entities have become increasingly important providers of credit to companies and governments.

One major area of focus is the rapid expansion of private credit funds, which now manage more than $3 trillion globally. These funds allow asset managers to lend directly to businesses, often outside the scrutiny of public markets or traditional banking standards.

Regulators worry that during a major shock, investors could rapidly withdraw funds from these vehicles, potentially creating liquidity problems for borrowers and spillover risks for banks that help finance or manage the funds.

Pressure in Bond and Repo Markets

Another major source of concern lies in government bond markets, where highly leveraged hedge funds have become increasingly active. Many of these funds use repurchase agreements, or “repo” markets, to borrow money and finance large trades involving government bonds.

These strategies often rely on exploiting small price differences between cash bonds and futures contracts, but they involve substantial leverage. While such activity can help smooth government financing, it can also create systemic vulnerabilities during periods of market stress.

The Financial Stability Board, which monitors risks to the global financial system for the G20, warned earlier this year that sudden deleveraging in repo markets could disrupt sovereign bond markets.

More than $16 trillion in repo transactions backed by government bonds were outstanding last year, with about 60% concentrated in the United States. A sudden withdrawal of leveraged investors could therefore have significant ripple effects across global financial markets.

New Fragilities: Stablecoins and Technology Stocks

Regulators are also monitoring emerging risks linked to digital finance. Stablecoins cryptocurrencies pegged to traditional currencies such as the U.S. dollar have grown rapidly and are increasingly investing reserves in government bonds.

With the stablecoin market now worth roughly $300 billion and expanding, any loss of confidence in these assets could trigger large-scale sales of the bonds that back them. Such an event could add stress to already volatile financial markets.

At the same time, some investors remain concerned about high valuations and heavy market concentration in the rapidly growing artificial intelligence sector, which could amplify market volatility during periods of economic uncertainty.

Analysis: Oil Shock Could Trigger Wider Financial Stress

The Iran war oil shock illustrates how geopolitical crises can interact with financial vulnerabilities to create broader economic risks.

Higher energy prices directly increase inflation and strain household finances. At the same time, they can force central banks to reconsider interest-rate policies, potentially leading to higher borrowing costs and greater volatility in financial markets.

Such conditions could expose weaknesses in highly leveraged sectors of the financial system, particularly in shadow banking, hedge funds and digital financial markets.

Although previous shocks including the economic turmoil following Russia’s invasion of Ukraine did not ultimately trigger a major financial crisis, policymakers remain cautious. The brief turmoil in the U.S. regional banking sector in 2023 demonstrated how quickly financial stress can emerge when economic conditions shift.

If oil prices remain elevated and central banks are forced to respond aggressively, the resulting tightening of financial conditions could amplify existing vulnerabilities across markets.

For now, the disturbances appear manageable. But the combination of geopolitical conflict, energy market disruption and financial fragility ensures that central banks will continue to watch the situation with increasing concern.

With information from Reuters.

YOUR holiday sangria or paella could be much more expensive on your next trip to the Spanish islands.

Officials have said that destinations like the Canaries and Balearics will experience a price hike when it comes to food and drink because of the ongoing conflict in the Middle East.

The Spanish islands are incredibly popular with Brits, especially during the summer holidays.

The Canary Islands welcomes up to six million British tourists each year and it’s where you’ll find the likes of Tenerife and Lanzarote.

Meanwhile, around three million tourists visit the Balearics – with over two million heading to Majorca alone.

Both locations are popular thanks to their high temperatures and direct flights from multiple locations across the UK.

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Now, industry chiefs have said the increase in cost of food and drink at these destinations will be worse than 2022 when prices shot up after the war in the Ukraine began.

Urgent meetings are already being held in the Balearic Islands and in the Canaries which are very dependent on imports due to their more isolated locations.

In July 2022, inflation climbed to 10.8 per cent in Spain.

President of the Association of Food and Beverage Distributors of the Balearic Islands, Mr Bartolomé Servera is warning of severe increases, which will depend on the duration of the crisis in Iran.

Mr Servera said the new impact will be much greater if the conflict is prolonged as the weight of the Middle East is much greater, especially through the Strait of Hormuz, through which 20 per cent of oil and gas pass.

Mr Servera says carriers have already begun to raise prices because the price of fuel has skyrocketed.

Diesel has risen by 32 cents per litre, around 22 per cent; while Gasoline 95 has become between 18 and 20 cents per litre more expensive, which represents 12 per cent.

In addition, it is not ruled out that the barrel of Brent will continue to rise: this Wednesday (March 11) it is around 90 dollars, but this past Monday (March 9) it was close to 120 dollars.

This is likely to then effect everything on the island from hotels and resorts.

The association president said “Milk, eggs, bread, fruit will rise.

“Everything needs fuel for its production or transport, so they will not escape the escalation of costs and producers will have to pass them on to consumers.”

The Canary Islands also fear soaring prices and will meet with transport leaders shortly.

President of the Cabildo de La Gomera, Casimiro Curbelo said official need to be monitoring the impact of the war on the islands and prepare contingency plans.

The Government of the Canary Islands says it is “very attentive” to the consequences of the war in the Middle East and plans to hold a meeting with the transport sector in the coming days in view of the increase in fuel prices.

Faced with this situation, the Government of Spain is working on an aid package, as it did at the beginning of the war in Ukraine, to alleviate the looming rise in prices.

For more on Majorca, here are the hidden gems on the island loved by locals.

And one writer who has visited 100 countries explains why he always goes back to these Spanish islands that Brits love and have the best food and beaches.

A LIDO that was set to close for good has backtracked and confirmed that it will reopen for the 2026 summer season.

The outdoor pool in Teignmouth was marked for closure earlier this year, but the decision has since been overturned.

In February of this year, Teignbridge Council announced plans to close its beachfront lido in order to save money.

Officials said that not reopening Teignmouth Lido could save £74,000 in 2026.

Now, the decision has been reversed by the executive committee of Teignbridge Council.

The council announced the news on social media and said: “Our Executive Committee has today (Tuesday 10 March) voted to open Teignmouth Lido this summer.

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“Teignbridge District Council will operate the pool this summer and will work with community groups interested in taking on the Lido to ensure a safe handover.

“Councillors acknowledged the difficulties of balancing the books but agreed that opening the Lido would deliver value over price and enable the community to keep using the pool while Teignbridge works with groups to secure the asset’s long-term future.”

Since the news of the lido’s potential closure broke last month, the local community has been campaigning to reopen the lido.

Over 2,500 people having signed a petition to stop the lido’s closure, according to the Teignmouth Community Lido Trust.

After the executive committee meeting campaigner Catherine Brown said: “This is a brilliant outcome.

“It’s unbelievable that the council has gone from a unanimous decision to close it to a unanimous decision to keep it open!”

The 25-metre outdoor pool first opened in the 1970s and opens seasonally, usually having its debut in May half-term.

It has partial opening hours in June and July and then opens full time during the summer holidays.

The pool is heated and holds various swim sessions, from public to fun sessions, as well as activities like aqua fit and aqua circuits.

Four years ago, the pool underwent a refurbishment of £800,000 and then a further £30,000 was spent on repairs, according to Local Democracy Reporting Service.

The Teignmouth Community Lido Trust has expressed its hope to take over the lido site and keep it open for years to come.

Travel Reporter Cyann Fielding who grew up in the area is also a fan of the lido. She said: “Teignmouth Lido is more than just a gem on the South West coast; for me, it’s the backdrop of my childhood.

“For over a decade, my school summer holidays were defined by afternoons spent there with my family – so to hear that the lido could close is heartbreaking.

“With ample patio and sun-drenched patches of grass surrounding the 25-metre crystal clear pool, it was the rare kind of place where parents could relax while kids felt a bit of freedom.”

For more on swimming, here are all the lidos in the UK mapped – with water slides, cocktail bars and some are even FREE to enter.

Plus this new ‘floating park’ with sauna and lido is set to open in popular a London district as part of a huge £5billion upgrade.

Paramount’s $111-billion deal to acquire Warner Bros. Discovery will put two of the most storied journalism brands — CNN and CBS News — under one roof.

The combination has been proposed before with the aim of consolidating news-gathering costs. Those plans fell apart largely over who would be in control.

But if the Paramount-WBD transaction is approved by regulators, CNN and CBS News will be forced into potentially rocky marriage where they will have to sort out leadership roles, personnel and editorial direction.

It’s still too early to determine what those moves will be and how widely they will be felt.

Last week CNN Chief Executive Mark Thompson told his troops to avoid “jumping to conclusions about the future.”

But what is certain is that every permutation will be scrutinized closely due to the fraught relationships both CNN and CBS News have with the Trump administration.

“There have been many conversations over the years about combining CBS News and CNN,” said Jon Klein, a digital media entrepreneur who previously held leadership roles at both organizations. “But this time, it’s different. The business case always made sense — but today you’ve got the overlay of the political agenda.”

Before Paramount prevailed in its bid for CNN’s parent, Paramount Chief Executive David Ellison’s father Larry Ellison reportedly discussed changes to the network with Trump. For years, Trump has made CNN the poster child of his “fake news” claims and impugned many of its journalists.

“What has David Ellison and Larry Ellison promised Donald Trump with regard to what they’re going to do with CNN?” said one former executive. “Before you even get through the hurdles of doing this, that’s the overriding question. Are they going to fire anchors Trump doesn’t like?”

There is also apprehension at CBS News, where David Ellison installed Bari Weiss as editor-in-chief in October, with a mandate to have network’s coverage appeal to the political center.

CBS News editor-in-chief Bari Weiss with Turning Point USA’s Erika Kirk at a town hall that aired Dec. 20.

(CBS Photo Archive / CBS via Getty Images)

Weiss — founder of the independent media company The Free Press — came into the role with no experience running a TV news organization, building her reputation as an opinion writer with contrarian views and a disdain for woke ideology.

The former New York Times opinion writer, who is staunchly pro-Israel, drew criticism over the weekend for putting a fire emoji over a comment criticizing New York City Mayor Zohran Mamdani’s condemnation of the U.S. military action in Iran — an unusual public reaction for the head of a major news organization.

Weiss wasted no time taking on the prestigious CBS news magazine “60 Minutes,” which has long been a stubbornly independent operation. She delayed a story on the harsh El Salvador prison used by the U.S. to house undocumented migrants saying it needed more reporting. The story’s correspondent Sharyn Alfonsi accused CBS News management of placating the White House, turning the decision into a public relations fiasco for the network.

Significant changes are coming to “60 Minutes” later this spring, with one or more of its correspondents possibly being replaced, according to people familiar with Weiss’ plans who were not authorized to comment. Weiss has also expressed interest in hiring right-leaning on-air talent for CBS News.

Weiss arrived after Paramount settled a Trump lawsuit with the dubious claim that a “60 Minutes” interview with then-Vice President Kamala Harris was deceptively edited to aid her 2024 presidential election campaign against him.

The willingness to settle the suit was largely seen as Paramount capitulating to Trump in order to get government approval of its merger with Skydance Media. The Ellisons’ tight relationship with Trump was also seen as an asset in their successful pursuit of Warner Bros. Discovery.

The stew of issues bubbling through the transactions is why most of the rank and file at CNN rooted for Netflix to prevail in its bidding for Warner Bros. Discovery. The Netflix bid for WBD did not include CNN or the company’s cable networks, which in the words of one insider would have made it “a stay of execution.”

Now CNN staffers, speaking on the condition of anonymity, are bracing for upheaval. When they look at CBS News navigating the changes under Weiss, they are reminded what they went through after Warner Bros. Discovery took over their network and tried to push the coverage to the center.

After a declaration by WBD Chief Executive David Zaslav that the network needed to be more accommodating to conservative voices — and the telecast of a rowdy Trump town hall — CNN experienced an exodus of viewers.

But the biggest fear that the merger brings is consolidation and the loss of jobs. CNN has 3,400 employees while CBS News is at around 1,000. Cost-cutting is expected to be aggressive across the combined Paramount-WBD, which will have a mountain of debt to service.

The parent companies of CBS and CNN have discussed merging or sharing news-gathering operations and on-air talent numerous times over several decades. In 2019, Viacom, the CBS News parent at the time, had a deal in place to pay CNN an annual license fee to provide international coverage.

Under that plan, CBS would have maintained a few of its signature overseas correspondents, while shuttering its bureaus around the world. But Viacom backed out of the deal.

CNN’s international coverage has long been its calling card and its likely the network will handle that reporting for CBS News once Paramount takes ownership.

Combining the news-gathering operation stateside will be trickier, as CBS News has employees and vendors that operate under contracts with the Writers Guild of America East, SAG-AFTRA and other unions. CNN is a non-union shop.

Resolving the union issue has been a snag in every previous discussion to combine CBS News and CNN over the years, according to several former executives at both outlets.

CNN news anchor Anderson Cooper in New York in 2016.

(Associated Press)

Another development worth watching is what role Anderson Cooper will play in the merged operation. Cooper signed a new deal with CNN last year, but turned down an offer to remain as a “60 Minutes” correspondent, a role he’s had since 2007.

CBS News has pursued Cooper several times over the years to be its evening news anchor. There was even a proposal in 2018 for him to helm “CBS Evening News” while keeping his nightly prime time program on CNN. That idea was shot down at CNN, where leadership believed he was unique to the network’s brand.

In a statement, Cooper cited a desire to spend more time with his two children as the reason for passing on another “60 Minutes” deal. However, associates have said his wariness over the direction of CBS News under Weiss made his decision easier.

Now Cooper is likely headed into the CNN-CBS News tent, which may make him feel a bit like Michael Corleone in “Godfather III” when he said “Just when I thought I was out, they pull me back in!”

Four days after the stunning news that Paramount Skydance would acquire Warner Bros. Discovery, Paramount executives tried to calm fears that the blockbuster deal would result in massive layoffs.

In a call Monday, Paramount Chief Strategy Officer and Chief Operating Officer Andy Gordon told Wall Street analysts that $6 billion in merger “synergies” would come from “non-labor sources” and not a “reduction in production capacity.”

Instead, Gordon said, the company would reduce costs by consolidating its streaming technology and cloud providers, finding marketing efficiencies and “optimizing the combined real estate footprint,” likely an allusion to widely anticipated plans that the new owners will consolidate operations around the Warner Bros. lot in Burbank.

Efficiencies aside, most Hollywood observers — including people who are familiar with Paramount Skydance Chief Executive David Ellison’s plans — predict that Paramount will be forced to make large-scale layoffs in order to offset the enormous costs of the mega-deal, which is valued at more than $111 billion (counting debt).

It’s a reasonable expectation, at least if history is any guide.

Many at Warner dread the kinds of cuts seen after Walt Disney Co. bought most of 21st Century Fox’s assets, resulting in thousands of layoffs as the two companies combined operations and shed redundant jobs.

In the case of Warner-Paramount, the new company will have two film and TV studios, as well as two streaming businesses, two legal departments, two marketing departments and so on. It’s doubtful these overlapping functions will survive budget cuts.

Already, consolidation plans are underway.

This week Paramount announced it would combine the two streaming services — Paramount+ and HBO Max — to reach a total of more than 200 million subscribers and better compete against the behemoth Netflix, which boasts 325 million subscribers worldwide.

Ellison was full of praise for the HBO team on Monday’s analyst call, saying the premium service was a “crown jewel” and that it will “continue to have the resources and independence to do what it does best.”

He also reiterated that there is “no intention to pull back on production,” and that the company intends to make 30 films a year — 15 apiece from Paramount and Warner Bros.

“We have all the economic incentives to make sure that we grow this business and are going to invest in content to basically achieve those goals,” Ellison said Monday.

But this deal also includes $79 billion in net debt — a staggering load that overshadows even that of the merger that resulted in Warner Bros. Discovery. That amount became an albatross around that company’s neck and led to waves of layoffs.

“What everybody’s hoping is that the noise that’s being made around prioritizing content will hold true,” said Kevin Klowden, a Milken Institute fellow focused on entertainment and technology. “But until they see that happen, it’s really a question.”

Further job losses would be a blow to an industry that has been reeling from a steady drumbeat of job cuts fueled by media consolidation, dwindling streaming profits and the migration of film and TV jobs to cheaper states and countries.

Paramount executives have said the deal is expected to close in the fiscal third quarter of this year, and Ellison said he was “absolutely confident” they will meet that goal, based on conversations with regulators.

Despite support from the Trump administration, the acquisition is not yet final. Already, California Atty. Gen. Rob Bonta said he was in communication with other states’ attorneys general about challenging the merger on antitrust grounds, saying it wasn’t a “done deal.”

And on Monday, Rep. Sam Liccardo (D-San José), Sen. Elizabeth Warren (D-Mass.) and Sen. Richard Blumenthal (D-Conn.) called on Atty. Gen. Pam Bondi and White House Chief of Staff Susie Wiles to provide details of their conversations about the merger with Ellison and Netflix co-Chief Executive Ted Sarandos, highlighting the role of politics in the auction.

Paramount plans to keep the two studios separate for now, though company executives have discussed combining operations at the Warner Bros. Burbank lot at some point, according to sources close to Paramount who were not authorized to speak publicly. That could mean a wind down at the historic Paramount lot on Melrose Avenue — and more job losses.

The anxiety over looming cuts is especially deep inside Warner, where staff are still trying to process the news, according to people I spoke with. They noted that when Netflix was the winning bidder, co-Chief Executives Sarandos and Greg Peters came to the Burbank lot and spoke with several hundred of Warner’s senior leaders and outlined their plans, giving staff more clarity about a future under their ownership. No such conversations have occurred with the Paramount team, they said.

“I think genuinely, everyone’s nervous and a little uneasy,” said one Warner Bros. Discovery employee. “With the Netflix option, people had become a little more hopeful. But this outcome is a little more frightening for the staff.”

Stuff We Wrote

Film shoots

Number of the week

After 30 years, the Ghostface killer has still got it. Paramount Pictures and Spyglass Media Group’s “Scream 7” topped the box office this last weekend with $64.1 million in the U.S. and Canada, marking a franchise-best domestic opening. Globally, the film made $97.2 million.

The film centered on original franchise actors Neve Campbell and Courteney Cox, and featured numerous callbacks to the previous movies.

But the film’s debut did not come without controversy. Pro-Palestinian groups protested outside the “Scream 7” premiere on the Paramount lot last week and called for a boycott of the film after franchise star Melissa Barrera was fired more than two years ago for her comments on the Israel-Hamas war.

What I’m watching

On Sunday, I watched the UCLA women’s basketball team dominate USC in what I think is one of the best college rivalries out there (though I’m probably biased. Go Bruins!)

March 3 (UPI) — The price of Brent crude oil rose to $80 a barrel and the price of natural gas jumped 30% to $1.97 per therm on Tuesday after Iran effectively shut the key Strait of Hormuz shipping lane, with an official threatening its forces would “set fire to anyone who tries to pass.”

Prices continued their upward trajectory from Monday when markets reopened following the military strikes over the weekend on Iran by the United States and Israel and Tehran’s strikes on its oil and gas producing neighbors across the Gulf.

Concerns over supply disruptions are growing as the conflict widens across the region with Iranian strikes going beyond military bases used to launch attacks on Iran to target oil and gas production facilities, as well as Amazon data centers in the United Arab Emirates and Bahrain.

On Monday, Qatar Energy, one of the world’s largest exporters of liquefied natural gas, shut down production following “military attacks” on its Ras Laffan plant and Saudi Arabia’s state-run Aramco shuttered its giant Ras Tanura refinery near the port city of Dammam after it was set ablaze in a drone strike.

Analysts warned the oil price could surpass $100 a barrel if the disruption continued for very long — translating to a 25-cent-a-gallon rise in U.S. petrol prices.

The risk to maritime traffic was also pushing up the cost of moving oil from the Gulf to Europe and Asia and around the world with the leasing cost of a tanker to ship Middle East to China doubling to $400,000 a day on Monday.

The president of logistics technology platform Flexport, Sanne Manders, told the BBC that while Iran had not physically blockaded the strait, through which 20% of the world’s oil and gas transits, it was closed as far as global shipping was concerned.

Manders said it was partly that shipping lines were simply unwilling to expose their vessels, cargo and crews to potential jeopardy and partly insurance companies “not being willing to insure this risk anymore.”

He warned that expectation of higher fuel costs would feed through to movement of all goods by sea with carriers hiking rates “for any shipping in the world.”

That all fed into investor fears over the consequences for inflation and interest rates, sending global stock markets tumbling overnight, led by Japan’s Nikkei 225 Index, which ended Tuesday down more than 3%.

In mid-morning trade London’s FTSE 100 was down 2.8 %, Germany’s blue-chip DAX was trading 4% lower, down more than a thousand points, and the CAC 40 in Paris was off by 3.2%.

The pan-European Stoxx 600 Index continued its retreat, with across-the-board falls in all sectors pulling it 2.9% lower, while the blue-chip Euro Stoxx 50 was even lower, down 3.1%.

However, hotels, airlines and utilities took the biggest hits while energy firms and defense contractors performed better.

Ahead of the opening of U.S. markets, S&P 500 futures fell by 1.8%, Nasdaq 100 futures were down 2.3% and Dow Jones Industrial Average-linked futures moved lower by around 1.7%, or 821 points.

Defense and energy stocks rose on Monday led by Northrop Grumman, up 6%, and Palantir, up 5.8%, which together with a surge in NVIDIA’s share price, helped the overall market erase big losses early on to end the day in the black.

U.S. President Donald Trump was due to discuss the economic and cost-of-living impacts with Treasury Secretary Scott Bessent and Energy Secretary Chris Wright on Tuesday while Secretary of State Marco Rubio trailed administration plans to cope with energy price spikes.

“We knew that going in would be a factor. Starting tomorrow you will see us rolling out those phases to try to mitigate against that,” said Rubio.

South Korean stocks plunged more than 7 percent Tuesday to close below the 5,800-point mark as investor sentiment was dampened by escalating geopolitical concerns triggered by the ongoing Middle East conflict. The Korean won lost sharply against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 452.22 points, or 7.24 percent, to close at 5,791.91, marking the lowest closing price since Feb. 20, when the index finished at 5,808.53.

It marked the largest-ever daily drop.

The country’s main bourse operator, the Korea Exchange (KRX), issued a sell-side sidecar for 5 minutes around noon, suspending the selling of KOSPI futures.

Trade volume was heavy at 1.2 billion shares worth 52.5 trillion won (US$35.8 billion). Losers sharply outnumbered winners 840 to 73.

Foreign and institutional investors led the daily sell-off, dumping a net 5.1 trillion won and 891.1 billion won, respectively. Retail investors, on the other hand, went bargain hunting and snapped up a net 5.8 trillion won.

Coordinated U.S. and Israeli air strikes on Iran over the weekend roiled global markets from the start of this week, but the Korean market closed on Monday in observation of the March 1 Independence Movement Day holiday.

“The main index experienced expanded volatility as the Middle East risk was realized after a long weekend,” Roh Dong-gil, an analyst at Shinhan Securities, said. “The stock market is expected to be affected by oil prices and interest rates as the situation develops.”

Most shares closed bearish.

Market bellwether Samsung Electronics tumbled 9.88 percent to 195,100 won, and its chipmaking rival SK hynix plummeted 11.5 percent to 939,000 won.

Top automaker Hyundai Motor dived 11.72 percent to 595,000 won, and leading battery maker LG Energy Solution sank 7.96 percent to 393,000 won.

Travel shares were among the biggest losers as flag air carrier Korean Air nosedived 10.32 percent to 25,200 won and major travel agency Hana Tour Service lost 6.65 percent to 44,900 won.

KB Financial Group, a leading banking group, fell 3.46 percent to 153,500 won, and Celltrion, a major pharmaceutical firm, dropped 5.66 percent to 225,000 won.

However, oil refinery and defense shares were bullish.

Leading refinery firm SK Innovation rose 2.51 percent to 130,900 won, and S-Oil, whose largest shareholder is Saudi Aramco, shot up 28.45 percent to 141,300 won.

Defense giant Hanwha Aerospace soared 19.83 percent to 1.43 million won, and LIG Nex1 surged 29.86 percent to 661,000 won.

The Korean won was quoted at 1,466.1 won against the U.S. dollar at 3:30 p.m., down 26.4 won from the previous session’s close. It marked the lowest since Feb. 6, when the won-dollar rate was 1,469.5 won.

Bond prices, which move inversely to yields, closed sharply lower. The yield on three-year Treasurys increased 13.9 basis points to 3.180 percent, and the return on the benchmark five-year government bonds declined 14.6 basis points to 3.424 percent.

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As the media industry took stock of Paramount Skydance’s startling acquisition of Warner Bros. Discovery, one question lingered on the minds of many in the news business and beyond: what will this mean for CNN?

The iconic 24-hour cable news network is among the various Warner Bros. assets that would be scooped up by Paramount in a deal announced Thursday that could transform the media landscape.

Paramount has undergone a swift transformation under Chief Executive David Ellison following his family’s acquisition of the company last summer. These changes reached CBS News almost immediately with the appointment of Bari Weiss, the controversial Free Press co-founder, as its new editor in chief.

Bari Weiss moderated a town hall with Erika Kirk, widow of slain conservative activist Charlie Kirk.

(CBS via Getty Images)

Weiss’ tenure so far has been rocky.

Her decision to pull a “60 Minutes” story about conditions inside an El Salvador prison that housed undocumented Venezuelan migrants from the U.S. received widespread criticism and accusations of political motivation. The network said the story was held for more reporting, and the segment eventually aired.

There was more upheaval last week at the news magazine, when “60 Minutes” correspondent and CNN news anchor Anderson Cooper announced that he’d be leaving to spend more time with his family.

And earlier this year, a veteran producer at “CBS Evening News With Tony Dokoupil” was fired after he expressed disagreement about the editorial direction of the newscast.

Now, the concern is that similar changes could be in store for CNN, which has long been a target of President Trump’s ire. He has personally called for the ouster of hosts at the network who have questioned his policies.

CNN Worldwide Chief Executive Mark Thompson tried to quell some of those fears, particularly inside his own newsroom.

In an internal memo dated Thursday and obtained by The Times, Thompson urged employees not to “jump to conclusions about the future” and try to concentrate on their work.

“We’re still near the start of what is already an incredibly newsy year at home and abroad,” he wrote in the note. “Let’s continue to focus on delivering the best possible journalism to the millions of people who rely on us all around the world.”

Chairman and CEO of CNN Worldwide Mark Thompson and media editor for Semafor, Maxwell Tani, speak onstage.

(Shannon Finney / Getty Images for Semafor)

CNN declined to comment beyond Thompson’s memo.

Ellison has said his vision for a news business is one that is ideologically down the middle.

“We want to build a scaled news service that is basically, fundamentally in the trust business, that is in the truth business, and that speaks to the 70% of Americans that are in the middle,” he said during a Dec. 8 interview on CNBC, shortly after Warner said it had chosen Netflix as the winning bidder for its studios, HBO and HBO Max. “And we believe that by doing so that is for us, kind of doing well, while doing good.”

Ellison demurred when asked whether Trump would embrace him as CNN’s owner, given the president’s past criticisms of the network.

“We’ve had great conversations with the president about this, but … I don’t want to speak for him in any way, shape or form,” he said.

First Amendment scholars have raised concerns about press freedom and free speech rights under the Trump administration, particularly after last month’s arrest of former CNN journalist Don Lemon and the Federal Communications Commission’s pressure on late-night hosts like Jimmy Kimmel and Stephen Colbert.

Press freedom groups have long asked questions in other countries about how authoritarian regimes use their power and “oligarchical alliances to belittle, silence, and punish independent journalistic voices, or to steer media ownership toward … a preferred version of the truth,” said RonNell Andersen Jones, a 1st Amendment scholar and distinguished professor in the college of law at the University of Utah, in an email.

“We see them asking at least some of these questions about the U.S. today,” she wrote.

Apprehension about the merger also extends beyond its implications for CNN and the media business.

Lawmakers such as Rep. Laura Friedman (D-Glendale), Sen. Adam Schiff (D-Calif.) and Sen. Cory Booker (D-N.J.) have raised concerns about how the consolidation of two major Hollywood studios could affect industry jobs and film and television production — which has significantly slowed since the pandemic, the dual writers’ and actors’ strikes in 2023 and corporate cutbacks in spending.

Sen. Elizabeth Warren (D-Mass.) called the deal an “antitrust disaster” that she feared could raise prices and limit choices for consumers.

“With the cloud of corruption looming over Trump’s Department of Justice, it’ll be up to the American people to speak up and state attorneys general to enforce the law,” she said in a statement.

Already, California Atty. Gen. Rob Bonta has said the merger isn’t a “done deal,” adding that he is in communication with other states attorneys general about the issue.

“As the epicenter of the entertainment industry, California has a special interest in protecting competition,” he posted Friday on X.

Ellison addressed some of these concerns in a statement Friday.

“By bringing together these world-class studios, our complementary streaming platforms, and the extraordinary talent behind them, we will create even greater value for audiences, partners and shareholders,” he said. “We couldn’t be more excited for what’s ahead.”

Times staff writer Meg James contributed to this report.

IT was supposed to be the glittering triumph of Lacey M’ ‘s very short, but highly lucrative career. 

A lavish, red-carpet bash at Boxpark Liverpool, complete with DJ sets, special guests, and endless designer makeup, all to celebrate the young beauty influencer’s 12th birthday. 

But less than a month later, the glitter has well and truly settled, and the reality of internet fame has come crashing down. 

Lacey M – the self-described “Queen of Chaos” who gained 1.7 million followers since launching in 2024 – has been unceremoniously banned from TikTok.

Now, a bitter war of words has erupted online. The internet finds itself divided between loyal super-fans who believe a talented young girl’s dreams are being crushed, and deeply concerned critics who fear this is a textbook case of child exploitation in the digital age.

And if you thought a permanent ban would be the end of the drama, think again. 

Within days of her original account vanishing from the platform, lo and behold a brand-new profile – @Laceym.xandmum – popped up. 

Billed as a “joint account” and stamped “PARENT MANAGED,” Lacey is back on our screens, this time flanked by her mother, Laura, and her auntie, Natalie.

But behind the scenes, tech bosses are seething. For TikTok insiders have pulled no punches regarding the controversial comeback, warning that the family is walking on very thin ice.

One source told me: “TikTok bosses are really not happy with the way the Lacey M drama played out.”

“They take a very dim view of people trying to break their rules, particularly when the company is being scrutinised amid concerns about child safety.

“They are keeping a really close eye on this new account with Lacey and her mum Laura, and also her aunty Natalie. They are pushing their luck and TikTok are ready to step in and shut them down if they keep abusing the system. Enough is enough.”

The stark warning highlights a massive headache for social media giants as they wrestle with the dilemma of how to police the murky world of child influencers. 

TikTok’s terms of service are clear. They strictly dictate that users must be at least 13 years old to hold an account. 

Also amid politicians calling for the age to be lifted to 16, TikTok confirmed that they are launching new technology “to help us better detect people who may not be old enough to use our app.” 

‘Boiling point’

Yet, loopholes involving “parent-run” accounts have long been exploited by ambitious families eager to cash in on their children’s viral appeal.

And cash in, they have. Lacey M is not just a kid making lip-sync videos in her bedroom. She is a bonafide brand ambassador. 

She is closely tied to the wildly successful UK cosmetics giant P. Louise, run by businesswoman Paige Williams – who herself boasts 4.3 million TikTok followers on her personal and business account. 

She signed up Lacey to be an “official P.Louise Bestie”, and now the youngster even boasts her own custom makeup bundles including a Lacey In A Sticky Situation with my Bestie Box. 

The pack sells for £55 and features customisable drink cups alongside high-end cosmetics. 

For a child to be the face of a brand that also sells items with risqué names like “Bad B*tch Energy” lip kits, certainly raises some ethical questions. 

The backlash reached a boiling point following Lacey’s recent birthday extravaganza – tickets for the party cost £38, and organisers reportedly raked in £54,000 after thousands attended.

For a child to be the face of a brand that also sells items with risqué names like “Bad B*tch Energy” lip kits, certainly raises some ethical questions

Critics accused P. Louise of inappropriately sponsoring a child’s party – something she denies – and turning a young girl’s birthday into a corporate branding exercise.

Taking to Instagram, the beauty mogul was forced to address the scandal and defended her relationship with the young influencer and slammed the “assumptions” made by online trolls.

She wrote: “This is exactly what’s wrong with the internet, assumptions being made instead of truth being checked.

‘Cash cow’

“So let me be clear: I never took a penny from Lacey’s party, and I did not sponsor the event. What I did do was gift goody bags to a little girl who has shown nothing but loyalty, love, and passion for my brand over the years. She’s someone who dreams big.

“Someone who supports every launch, never misses a moment, always pays in full, and proudly shares my brand because she genuinely believes in it.”

The makeup boss went on to argue that ambition should not be gatekept by age. Then baffled fans by saying it was an issue of female empowerment rather than child safety.

She said: “That kind of dedication deserves to be celebrated, not questioned.”

“Dreams don’t come with an age limit. There is no expiration date on hope, ambition, or becoming the person you’ve always imagined. Whether you’re young or grown, you deserve encouragement, support, and people who believe in you.” 

“Supporting dreams will always matter to me. And once again, it’s disappointing to see women in business judged by a different standard, measured with a different ruler simply for showing kindness, generosity, and heart. We rise by lifting others. Always.”

She’s 12 years of age and she’s making money for her parents, for her auntie and her mom. And P. Louise is using her as a cash cow

User

While many applauded P Louise for her fiery stance, many accused her of ignoring the core issue for child safety and exploitation. 

One wrote: “I think it’s absolutely amazing that Lacey’s got banned because she shouldn’t be on here.”

“She’s 12 years of age and she’s making money for her parents, for her auntie and her mom. And P. Louise is using her as a cash cow.”

Another chimed in: “She’s twelve. Twelve year olds cannot sign contracts, fully understand brand exploitation, consent to any legal or long term digital footprint.”

“So why are we acting like she’s a 25 year old influencer who has lost her livelihood?

“She’s a child. And if she’s devastated. I do feel for her because that emotion will be real. But the responsibility, that sits squarely with the adults, parents, guardians, managers.”

And the hurt of the ban was not just felt by Lacey, but also her very large, young fanbase. One teenager named Riley, who attended Lacey’s birthday party, started a petition to get her reinstated. 

He said: “Let’s get her account back, cause honestly, she actually worked so hard for them. She’s got 1.7 million followers at the age she is. She built such, like, a community and such, like, a massive following, and we can’t let her account stay banned.” 

Others rallied to “show their support” by inundating P Louise website with orders for Lacey’s make-up bundles. 

The controversy surrounding Lacey M taps into a growing, global anxiety about ‘sharenting’ and the monetisation of children. 

I think it’s absolutely amazing that Lacey’s got banned because she shouldn’t be on here

User

Experts point out there are no limits on how many hours a child can spend filming content, no psychological support for dealing with online trolls, and crucially, no legal framework in the UK to ensure that children actually see a penny of the revenue their faces generate.

Critics point out that while Mum Laura and Auntie Natalie are officially “managing” the new @Laceym.xandmum account, it is ultimately Lacey’s face, Lacey’s personality, and Lacey’s childhood that is being sold to the masses. 

For now, Lacey and her mum are continuing to post on their new joint account, which has amassed 50,000 followers in a week, while trying to stay one step ahead of the moderators. 

But with insiders saying TikTok are “ready to step in and shut them down,” the clock is ticking.

MAJOR airports in Spain are introducing Brit-only border control to avoid travel chaos this summer.

New EES requirements have resulted in large queues at airports for British holidaymakers.

According to local media, the Spanish operator Aena has revealed that four airports will adapt their security and border control for Brits.

These airports are in Ibiza, Menorca, Malaga and Palma, Majorca.

It’s set to be put in place to ease the queues caused by new EES rules.

These will have a single access point to non-Schengen boarding zones to be used only by UK and non-EU passengers.

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There’s concern that the new EES requirement is causing delays in airports and will only grow during peak travel times, like the summer holidays.

Officials have expressed their worry that queues could be up to four hours or more.

The changes form part of Aena’s huge investment plan to its airports set to take place between 2027-2031.

These airports will use the investment ‘redesign control areas to improve passenger flow’.

They will allocate 29 per cent more space for passengers to ‘ensure smoother processing and better service quality’.

Malaga Airport could receive €1.5billion (£1.3billion) which could see it double the size of the terminal and increase capacity to handle 36million passengers each year.

Palma Airport (called Son Sant Joan) could receive €621.6million (just over £544million) for upgrades.

The investment is set to go towards the airport’s platforms, runway and taxiway pavements, taxiways, and renovation of boarding bridges.

In the case of Ibiza, the investment is set to be €229.7million (£201million), and in Menorca, the investment will reach €170.7million (£149million).

It will also include the adaptation to border control regulations to improve its efficiency.

At all four of the upgrade plans at these airports include allocated areas for Brits and non-EU passengers.

In order to fund the investment, Aena has proposed an average annual increasing its fees for airlines.

This hasn’t been well-received by the likes of Ryanair which has planned to axe over a million seats to certain Spanish routes, with some being cut down or cancelled completely.

Here’s more on the Spanish city which is getting MORE Ryanair flights after budget airline scrapped millions of seats.

And here are the cheapest destinations to fly to from six major UK airports including Spanish resorts to Greek islands.