UPDATE: Europe Delivers, Oil Squeeze Heats Up, HMS Trump Royal Gift

An update to your morning briefing. All the news you need to start your day.

On today's podcast:

(1) European banks have reported a bumper set of earnings this morning, with profits beating expectations, but they're also warning of the future effects of the ongoing Hormuz blockade.

(2) Oil prices remain firmly in triple digits this morning, as the US-Iran war enters its third month.

(3) The shock decision by the United Arab Emirates to quit OPEC blindsided its partners of six decades. Now the cartel will have to fight to stay relevant in a fast-shifting global oil market.

(4)  The EU has accused social media giant Meta of failing to keep children off its services.

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