London’s Heathrow is shut with all flights cancelled or diverted following a massive sub-station fire knocks out power to the airport and to nearby neighbourhoods. The Dow and S&P 500 are slightly in the green to eke gains for the week but U.S. equities remain under pressure. DoubleLine Capital’s Jeffrey Gundlach believes a recession is a possibility. Brussels delays retaliatory tariffs on the U.S. by two weeks, pushing for further dialogue with the Trump administration. And in shipping news, Hapag-Lloyd suffers a 19 per cent fall in FY profits. CEO Rolf Habben-Jansen tells CNBC tariffs concerns are weighing on the sector.

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