Economy

United Airlines plans to cut capacity by around 5 percent as soaring fuel prices make some routes unprofitable. The airline is bracing for high oil prices to continue for several years but expects to restore its schedule by autumn. Despite the cuts, United says it will maintain investments and avoid layoffs.

The war in Iran has caused the largest oil supply disruption in history, prompting the IEA to call for immediate measures: from lower speed limits to reduced air travel. All measures are in view to curb fuel demand as prices continue to surge.

Petrol and diesel prices continue to rise across the country, with the sharpest increases visible along the highways, where recommended rates are typically applied. Fuel remains noticeably cheaper at stations within cities, prompting many drivers to seek out lower prices there. Meanwhile, motorists are increasingly travelling to border towns in Belgium and Germany, where fuel is often significantly more affordable.

A new study from ING reveals that many Dutch homeowners are hesitant to invest in green energy due to confusing government regulations. While many want to reduce their bills and help the climate, high costs and the end of certain subsidies remain significant hurdles.

The implementation of the trade deal between the European Union and the United States has moved a step closer. Last summer, the European Commission and the US government agreed that the US would apply a general tariff of 15 percent to most European products. Conversely, there will be no increased tariffs and Brussels itself will scrap tariffs. These proposals still need to be ratified but do a general direction of the trade agreement.

Partly due to the escalation of the war between the US and Israel against Iran, stock traders fear that the conflict will drag on for a long time. A situation of high inflation slowing economic growth is what market experts fear.

The research institute Imec has received a groundbreaking new machine from ASML that will allow for the development of the world's smallest chips. This installation in Leuven aims to pioneer the next generation of hardware for artificial intelligence and high-performance computing. Experts expect the system to be fully operational by the end of 2026.

ASML has proposed a new social plan to support 1,400 employees facing redundancy in the Netherlands, offering double the usual transition pay. However, trade unions have criticised the move, blaming the job cuts on years of poor organisational management. The plan now awaits a decision from the company's works council.