Spirit exit likely to lead to higher U.S. airfares, experts say

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[@WatcherGuru] JUST IN: 🇸🇦 World's largest oil company Saudi Aramco reports higher profits in Q1 2026 despite ... JUST IN: 🇸🇦 World's largest oil company Saudi Aramco reports higher profits in Q1 2026 despite Iran war.

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[@ABC] Aramco, the world’s largest oil company, reported Sunday that its first quarter profits jumped 25... Aramco, the world’s largest oil company, reported Sunday that its first quarter profits jumped 25% over last year, as it increased exports by using a pipeline that avoids shipping through the Strait of Hormuz. Read more:

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[The Guardian] Iran war costs Toyota £3bn as prices of materials soar and sales fall <p>Carmaker gives one of biggest warnings yet of conflict’s impact on businesses while Trump tariffs also take toll</p><p>Toyota has reported a £3bn hit from costs from the war in Iran, as prices of parts and materials soared and sales dropped.</p><p>The world’s biggest carmaker said profits declined in its financial year to March as it was “likely unable to absorb newly added impact from the Middle East”, in one of the largest warnings yet of the war’s impact on businesses.</p> <a href="https://www.theguardian.com/business/2026/may/08/iran-war-costs-toyota-3bn-prices-materials-soar-sales-fall">Continue reading...</a>

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[New York Post] Nintendo hiking Switch 2 prices by hefty amount — and still warns sales will fall next year Japanese exporters are having to cope with President Trump’s tariff hikes and other higher costs that have been worsened by the war in Iran.

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[NPR] Gas prices keep rising, but do big oil companies plan to drill more? Not so far The war in Iran has pushed global oil prices higher, which boosts oil company revenues. But major U.S. oil companies aren't signaling plans to increase production to bring down prices at the pump.

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[Japan Times] Spirit exit likely to lead to higher U.S. airfares, experts say Spirit's shutdown has added to worries about higher airfares, as ticket prices already rise over soaring jet fuel costs due to the Middle East war.

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Toyota fourth-quarter profit misses by wide margin as U.S. tariffs drive 49% slump Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Key Points Toyota's quarterly operating profit missed estimates amid higher tariffs that raised costs.

Vehicle sales in the fourth quarter fell to 2.29 million from 2.36 million units a year earlier. The world's largest automaker by vehicle sales cut its annual operating income forecast despite higher revenue guidance. In this article Follow your favorite stocks CREATE FREE ACCOUNT Toyota signage at the New York International Auto Show in New York City on April 2, 2026.

Danielle DeVries | CNBC Japan's Toyota Motor on Friday reported a 49% drop in fourth-quarter operating profit, missing analysts' estimates as U.S. tariffs and intensifying competition from Chinese automakers pressured earnings. Here are Toyota's results compared with median estimates from LSEG: Revenue: 12.6 trillion yen vs.

12.6 trillion yen expected Operating profit: 569.4 billion yen vs. 813.28 billion yen expected The world's largest automaker by sales volume saw a 1.89% year-on-year rise in revenue during the fourth quarter ended March, in line with expectations. Operating profit declined for a fourth consecutive year-over-year period, reflecting persistent pressure from U.S. Net income attributable to the company was 817.2 billion yen from 664.6 billion yen a year ago.

Toyota's consolidated vehicle sales in its financial fourth quarter fell to 2.29 million from 2.36 million units a year earlier. Toyota lowered its operating income forecast by over 20% to 3 trillion yen for the financial year ending March 2027, while raising its sales revenue forecast by 0.6%.

"We have recently seen a significant rise in our breakeven volume due to a combination of increases in investments in human resources and future-oriented investments and the impact of U.S. tariffs," the company said in an earnings statement . The automaker said in a media briefing on Friday that it adopted a six-month average for its foreign exchange assumptions, rather than the usual monthly average, due to current volatility.

Toyota set its average exchange rate assumption for the fiscal year at 150 yen to the U.S. The weak yen has boosted the competitiveness of exporters such as Toyota by making its products cheaper for foreign buyers and increasing the value of overseas profits when converted back into the currency.

Toyota said its research and development expenses hit a record high partly due to certification-related issues and capacity constraints, though it expects its capital expenditure to stabilize going forward. The company said it is also continuing to cut costs and reduce wasteful production, but expects higher expenses from the Middle East conflict and inflation.

The productivity of Toyota Motor's assets declined over the full period 2016–2025, with a minor downtrend in asset turnover, according to a May 5 report by Price Target Research. Toyota is facing challenges, weighed down by slowing sales in China's auto market, vehicle recalls, intensifying competition in the electric vehicle space from peers, and Trump-related tariffs.

quarterly sales in the first quarter amid concerns about affordability and fuel price pressures from the Middle East conflict. Toyota has also been trying to navigate production plans amid tariffs and other regulatory changes. The company said in March that it would spend $1 billion total at two U.S. plants as part of a plan to invest up to $10 billion there over the next five years.

Toyota expects to see growth in the battery-electric vehicle space in China, Europe and North America, and plans to expand its business in those regions. Toyota shares last traded 2.18% lower in Tokyo on Friday. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

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Saudi oil giant Aramco sees Q1 profits rise 25% by shifting exports to its East-West Pipeline Aramco, the world’s largest oil company, reports a 25% jump in first-quarter profits By The Associated Press May 10, 2026, 11:09 AM Aramco , the world’s largest oil company, reported Sunday that its first quarter profits jumped 25% over last year, as it increased exports by using a pipeline that avoids shipping through the Strait of Hormuz , which has been disrupted by the Iran war .

, Aramco reported a profit of $32.5 billion for the quarter ending March 31. The state-owned company had reported a 12% decline in annual profits in 2025. “Aramco’s first-quarter performance reflects strong resilience and operational flexibility in a complex geopolitical environment,” Aramco President and CEO Amin H.

Nasser said in a statement, adding that the company’s East-West Pipeline, which runs across Saudi Arabia from its Eastern oil fields to the Red Sea, is now operating at its maximum capacity of 7 million barrels of oil per day. ” However, it cannot replace the capacity lost to the shipping disruption in the Strait of Hormuz .

Before the war, 20% of the world’s traded oil typically flowed through the strait every day, as well as large supplies of natural gas, fertilizer and other petroleum products. Iran live updates: Tehran sends response to latest US proposal, state media says May 10, 11:52 AM Hantavirus live updates: Americans aboard MV Hondius have begun disembarking 44 minutes ago Trump says US will guide ships out of Strait of Hormuz May 3, 9:04 PM Iran effectively seized control of the critical waterway after the U.S. and Israel attacked it on Feb.

28 and a U.S. naval blockade imposed last month also complicates its use. “Recent events have clearly demonstrated the vital contribution of oil and gas to energy security and the global economy, and are a stark reminder that reliable energy supply is critical,” Nasser said in a statement.

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Toyota said its profits for the year to March 2027 would decline for the third year in a row. Photograph: Jakub Porzycki/NurPhoto/Rex/Shutterstock View image in fullscreen Toyota said its profits for the year to March 2027 would decline for the third year in a row.

Photograph: Jakub Porzycki/NurPhoto/Rex/Shutterstock Iran war costs Toyota £3bn as prices of materials soar and sales fall Carmaker gives one of biggest warnings yet of conflict’s impact on businesses while Trump tariffs also take toll Toyota has reported a £3bn hit from costs from the war in Iran, as prices of parts and materials soared and sales dropped.

The world’s biggest carmaker said profits declined in its financial year to March as it was “likely unable to absorb newly added impact from the Middle East”, in one of the largest warnings yet of the war’s impact on businesses. The biggest hit for the Japanese manufacturer was a 400bn yen (£1.9bn) increase in materials costs linked to the war, while it lost another 270bn yen in lower sales.

Toyota is the dominant automotive brand in the Middle East. Toyota’s operating profits dropped to 3.8tn yen for the year to March, with Donald Trump’s tariffs costing it 1.38tn yen. The US-Israeli attacks on Iran, and the consequent closure of the strait of Hormuz, have roiled global industry.

Trump, under political pressure because of higher gasoline prices in the US, has said a deal to reopen the strait is on the table, but Iranian officials have so far given no indication that they are minded to accept. Asian manufacturers have been particularly affected by the turmoil because of a heavier reliance on exports from the Gulf , many of which have been trapped since the start of the war.

For instance, Japan’s automotive industry lobby group has said 70% of the country’s aluminium imports come from the Middle East. Oil prices have also increased the cost of tyres. Toyota said its profits for the year to March 2027 would decline for the third year in a row because of the war’s impact.

It expected operating income for the coming year would be 3tn yen (£14bn), a drop of more than a quarter. ” The impact of the Iran war is being felt in everything from “fuel costs, transportation expenses, and the cost of paint and other materials used at vehicle assembly plants”, Azuma said, according to Reuters.

Toyota sold 9.6m cars during the year, half of them hybrid cars that combine a petrol engine with a small battery. Its global sales rose 2% during the year, helped by 9% growth in North America. Toyota has focused its electrification efforts on hybrids , despite their higher pollution in a successful bet on a slower transition away from fossil fuels than rivals expected.

It only sold 600,000 battery cars during the year, although that was more than double the year before.