Ryanair Reports Fall in Profits as US-Iran War Intensifies

As war in the Middle East intensifies following US strikes on Iran, jet fuel prices have soared, causing customer hesitancy over booking flights.

Ryanair, one of many airlines affected, has announced a fall in revenue, with the firm’s pre-tax profits dropping 34% to €593m (US$678m) between April and June, while sales remained flat.

The company was subsequently forced to cut fares to encourage flyer demand.

Ryanair says it expects summer fares to be lower than the prior year due to “consumer hesitancy” around travelling by plane.

Fuel costs for air travel have increased since the beginning of the US-Iran war in February. While Ryanair says it struck deals for most future fuel costs, those not included in these arrangements had more than doubled.

Goldman Sachs CEO says Firms Value Skill over Intelligence

Goldman Sachs CEO David Solomon says he is not seeking the most intelligent minds when sourcing talent. Instead he insists sometimes employees that are “smart enough” are better suited for career growth.

Discussing his hiring philosophy, David says employees need only be "smart enough". He adds that the "smartest person in the world without a whole package of other things [is] not going to navigate Goldman Sachs well" and will be unlikely to find success at the firm in the long term.

David looks for several key areas when hiring new employees instead of focusing on educational ability.

He says the most attractive candidates are in touch with “human elements”, such as the ability to connect, be resilient and be determined.

David adds that employees must strive for excellence and above all else, should attend an interview with a proven track record.

Paramount-Warner Bros. Merger Paused by US Judge

Following approval of the merger from shareholders in April, the US$111bn Paramount takeover of Warner Bros. Discovery (WBD) has been temporarily blocked by a US federal judge.

The decision to block the deal follows a lawsuit brought by a coalition of 12 US states designed to halt the deal over concerns it would harm competition. There are also concerns it will increase consumer prices and steer political influence due to Paramount CEO David Ellison’s connections to the Trump administration.

Prosecutors representing the 12 states say the merger would cause “substantial harm on movie theatres, basic cable distributors and ultimately, audiences nationwide”.

Counter to this, lawyers representing Paramount and WBD argue the states are misreading the market and that the takeover deal would actually improve streaming efficiency.

Judge Araceli Martinez-Olguin granted a 14-day restraining order after hearing arguments from both sides in July. During this period, neither party can finalise the deal or start joining the businesses together.

Andy Burnham's Strategy for Business and Sustainability

Andy Burnham has been appointed as the UK's seventh prime minister in 10 years, moving into 10 Downing Street after being elected leader of the Labour Party in July.

The MP for Makerfield previously held cabinet positions as Secretary of State for Health and Secretary of State for Culture, Media and Sport during Gordon Brown's tenure as Prime Minister between 2007 and 2010.

His political standing with UK voters and Labour Party members strengthened during nine years serving as Mayor of Greater Manchester from May 2017 to June 2026 in North West England.

This increased support enabled him to replace Sir Keir Starmer as Prime Minister.

London Stock Exchange Announces 24-hour Trading for 2027

The London Stock Exchange Group (LSEG) has announced plans to launch LSE 24, a 24-hour round-the-clock trading venue in an effort to support the next generation of digital, algorithmic and agentic trading.

LSE 24 will allow for near-continuous trading throughout the working week (Monday to Friday) and allow global investors to have more flexibility when responding to market events, accessing liquidity across time zones and managing risk.

The venue, which will be built on LSEG’s market infrastructure, accompanies existing structures by enhancing the existing resilience of regular trade, in addition to creating new opportunities outside of UK trading hours.