Italy’s antitrust authority announced Tuesday an investigation into easyJet over alleged unfair practices, according to Reuters. The airline’s site and app set bundled baggage and sports equipment as the default for round trips, displaying only average prices even for single-leg journeys. The pound fell this morning as investors worried about a possible US-Iran peace deal. Sterling dropped a quarter cent versus the dollar to $1.3480 after rising three-quarters of a cent the previous day. Consumers were warned that higher prices may continue through summer even if talks succeed, with effects likely lasting months. Shipping disruptions and rising energy and material costs have increased expenses for UK firms, passing through to retail prices. Retailers have introduced promotions, yet businesses say avoiding price rises is harder and urged further government support. Shop price inflation rose 1.2% year on year in May, above the prior three-month average of 1.1%, led by furniture and health products. Brent crude climbed 2.5% to $98.57 a barrel, nearing $100 again after falling below that level yesterday. US and Iranian officials met in Doha following recent American strikes on Iranian sites, raising doubts about an imminent deal. Bond yields fell as prices rose on hopes that any agreement would reopen the Strait of Hormuz and ease inflation. Wall Street futures pointed higher. Analysts noted markets remain optimistic but are less tolerant of setbacks.
