Oil surges and markets sink on Iran crisis

DCM Editorial Summary: This story has been independently rewritten and summarised for DCM readers to highlight key developments relevant to the region. Original reporting by Irish Times, click this post to read the original article.

Oil prices have surged overnight and shares have slid with military conflict in the Middle East looking set to last weeks, threatening to upend a global economic recovery and perhaps reignite inflation.

Military strikes by the United States and Israel on Iran show no sign of lessening, while Iran is responded with missile barrages across the region, risking dragging its neighbours into the conflict. You can read the latest market reaction here.

Weight loss drug pioneer Novo Nordisk will invest €432 million in upgrading its Athlone plant to produce the tablet form of its Wegovy therapy. Dominic Coyle has the details.

With International Women’s Day on the horizon, FT columnist Pilita Clark uses data to illustrate why it makes sense for women to work for women in the workplace.

In our Q&A, a reader wonders if their pension fund will expose them to a higher tax bill if their spouse needs nursing home care. Dominic Coyle offers a view. If you’d like to read more about the issues that affect your finances try signing up to On the Money, the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.

In his weekly column, John FitzGerald explains why refunding Donald Trump’s illegal US tariffs would simply be unworkable.

In Me & My Money, Mark Walton, co-founder of Irish skincare brand Voya, tells Tony Clayton-Lea why the recent purchase of an outdoor sauna has proved to be “a great investment”.

In our Opinion piece, Royal London Ireland chief executive Noel Freeley argues that it is time for the Government to deliver a better deal for Irish savers, and preferably one that is simple to understand.

A multibillion-dollar dispute between Meta and the US Inland Revenue Service (IRS) is signalling a major shift in how the agency targets tax dodges used by big companies that push profits offshore, with Ireland very much in the spotlight. You can read the New York Times piece here.

Wall Street’s latest AI jitters reveal a nervous market, writes Stocktake.