business π₯ War on Iran shifts global economic power
The conflict between the US and Israel against Iran is causing major shifts across the global economy. Oil companies have seen massive profits due to the closure of the Strait of Hormuz and soaring oil prices. US taxpayers are facing potential trillion-dollar costs, far exceeding initial government estimates. Defense firms are benefiting from increased demand for weapons, like the $22.9bn contract with RTX Corporation. Meanwhile, the world's hungry are suffering due to rising fuel and fertilizer costs. π₯