BP’s profits for the first three months of the year have more than doubled following a surge in oil prices since the beginning of the Iran war.

US President Donald Trump claims that Iran has told the US it is in a state of “collapse” and would like the US to reopen the Strait of Hormuz as soon as possible.

Meanwhile, a superyacht linked to one of Russian President Vladimir Putin’s key allies has sailed through the strait, despite the ongoing blockade of the critical shipping channel.

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Airlines have cut 13,000 flights globally in May as jet fuel prices soar due to the conflict in the Middle East.

Airlines have removed nearly two million seats from flights over May, new data shows.

Istanbul and Munich have seen the largest reduction in flights, according to figures from aviation analytics firm Cirium.

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Spirit Airlines is shutting down as a business after failing to secure a $500m (£368m) bailout from the Trump administration.

The budget airline was in talks with the US government about a rescue deal which would have saved it from collapse.

But discussions collapsed and the carrier said in an announcement on its website on Saturday that with “great disappointment” the airline had “started an orderly wind-down of our operations, effective immediately”.

Spirit was emerging from its second bankruptcy filing in recent years before the US-Israel war in Iran, but the resulting surge in jet fuel costs pushed it over the brink.

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Today, more Labour MPs have called for Keir Starmer to step down, but is an actual leadership challenge imminent?

In a speech on Monday morning Keir Starmer vowed to prove his “doubters” wrong, but the number of Labour MPs calling him to go continues to rise.

Dozens of MPs have urged Starmer either to step down immediately or set out a timetable for his departure. Adam, Chris and Alex discuss.

00:00 Keir Starmer’s Speech
04:29 What was the mood in the room of the speech?
07:38 Was the speech enough for Labour MPs?
10:12 Resignations begin and pressure stacks up
12:17 How Labour’s leadership rules actually work
14:55 Momentum builds but no challenger emerges
17:59 Who could move next and possible scenarios
23:52 The King’s Speech and what happens now

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The British Prime Minister Keir Starmer has dismissed calls for his resignation in an address to the country, just days after his governing Labour party suffered significant losses in local elections. “I know I have my doubters, and I know I need to prove them wrong, and I will”, he said.

The BBC’s UK political correspondent Rob Watson tells us that Mr Starmer appears to have staved off any immediate challenges from his potential rivals, but that his premiership is still at risk in the long term. More than 50 Labour members of parliament have called for Mr Starmer to step down.

Analysts say the prime minister remains unpopular with his party and the country. The Labour government is under increasing pressure from the right-wing Reform party, led by Nigel Farage, and left-wing Green party led by Zack Polanski, who are gaining support with voters.

What will Labour have to do for a chance at re-election in 2029 – with or without Keir Starmer as leader?

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