The Guardian Live blog is reporting comments from Michael O'Leary from a press conference in Warsaw:

Vicky McKeever writes:

Shares in data analytics software maker Palantir (PLTR) tumbled 10.5% on Monday, taking its losses over the past five days to nearly 24%.

The drop in the company's share price comes amid concerns around potential Pentagon budget cuts, given defence is a key part of Palantir's (PLTR) business.

Last week, the Washington Post reported that US defence secretary Pete Hegseth sent a memo to senior military leaders to develop plans to cut 8% from defence spending per year for the next five years.

In a statement on Wednesday, acting deputy secretary of defence Robert G Salesses, said: "Hegseth has directed a review to identify offsets from the Biden administration's FY26 budget."

He said that offsets were targeted at 8% of the Biden administration's 2026 budget, totalling around $50bn, which "will then be spent on programs aligned with president Trump's priorities".

Oil prices pulled lower on Tuesday, as the US imposed a fresh round of sanctions on Iran, heightening concerns that global supply could tighten.

Brent crude futures fell by 0.2% to $74.16 per barrel, while US West Texas Intermediate (WTI) crude lost 0.2%, falling to to $70.65 per barrel.

The lukewarm performance follows the US Treasury's announcement on Monday that it had imposed new sanctions targeting Iran’s oil industry, specifically targeting brokers, tanker operators, and shippers involved in selling and transporting Iranian petroleum.

Iran, which is the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), produced 3.2 million barrels per day in January, according to a Reuters survey of OPEC output.

However, further price gains were limited by a murky demand outlook.

"We're just clearing out room to trade lower and I would be cautious if I was a buyer in the market today," Mizuho analyst Robert Yawger said.

"Just sitting here, waiting for the next big event to happen, and obviously there are plenty of big ones out there that could hit any moment."

As the government’s stamp duty holiday comes to a close at the end of March, an estimated 25,000 first-time buyers in England are set to miss the deadline, risking up to £11,250 in extra charges when their purchases complete in April.

According to property site Rightmove (RMV.L), an average home-mover in England will see an additional £2,500 in stamp duty costs from 1 April.

While first-time buyers of homes priced up to £300,000 will still be exempt from stamp duty, those purchasing homes valued between £500,001 and £625,000 will be hit the hardest. This group will face an extra £11,250 in taxes, as the government’s stamp duty rules change.

Read more on Yahoo Finance UK

Naeem Aslam, chief investment officer at Zaye Capital Markets, said:

UK energy bills for a typical household are set to rise by more than £100 in a year in April, as Ofgem's new price cap kicks in. The bump is higher than expected and will put pressure on both people's finances and overall inflation data.

The increase of 6.4% means an average annual bill will be £111 higher taking the total annual bill to £1,849.

Energy regulator Ofgem said people should consider switching to a fixed tariff.

Unilever's boss Hein Schumacher is stepping down after a year an a half in the role, with Fernando Fernandez, the company's CFO set to step in and take over.

The FT reported that the board decided to oust Schumacher and replace him with Fernandez.

Neil Wilson, analyst at TipRanks, writes:

The Dow and S&P 500 barely moved in premarket, while the Nasdaq looked set to open at a small loss.

US stocks sold off into the close on Monday as investors weighed the prospects of President Donald Trump's tariff policies and also shifted focus to this week's Nvidia (NVDA) earnings.

The Dow Jones Industrial Average (^DJI) was little changed on the heels of its worst week since October. The S&P 500 (^GSPC) fell 0.5%, while the tech-heavy Nasdaq Composite (^IXIC) fell 1.2%.

Stocks' comeback attempt fizzled after Friday's steep declines capped a losing week, which was marked by data showing American consumers and businesses are becoming concerned about Trump's tariff plans.

During a press conference on Monday, President Donald Trump suggested tariffs on Mexico and Canada would "go forward on time, on schedule," once a month-long delay is over next week.

Meanwhile, how Nvidia is navigating the looming threat of those tariffs will be closely watched when the AI chipmaker reports its results on Wednesday — the highlight of the earnings week. Eyes are also on Big Tech's demand for AI and risks from China-based DeepSeek's lower-cost tech.

Hello from London. Another day — another live blog.

On the slate today:

• Details on the energy price cap rise in the UK

• Bank of Australia's interest rate decision

• Budweiser (BDWBF) and Home Depot (HD) quarterly results

Let's get to it.