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As rising fuel costs clobber their economies, the Philippines and other developing countries in Asia are pushing to build strategic petroleum reserves to cushion against future shocks.
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Attacks on ships transiting the Bab el-Mandeb threaten to cut off millions of barrels per day of Saudi crude oil exports.
The Taiwan-based chipmaker has announced $200 billion in investment into U.S. manufacturing since Trump returned to power in 2025.
Record June temperatures expected to cut grain harvest by 9m tonnes to its lowest level since 2018 The heatwave that swept across Europe in June is estimated to have cost the continent’s grain farmers €2bn (£1.7bn) in lost revenue and destroyed 9m tonnes of crops, sparking concern about the impact on the price of food. Coceral, the European cereals and oilseeds trade association, made the estimate for the harvest of crops such as wheat, barley, maize and oats following the heatwave. Continue reading...
Global supply disrupted by US-Iran aggression in strait of Hormuz and Houthi threats in Bab el-Mandeb Middle East crisis live – latest updates Business live – latest updates The price of oil has breached the $95 a barrel mark for the first time in six weeks as the escalating Middle East conflict threatens further disruption to global supplies. The benchmark oil price rose sharply on Wednesday as renewed US-Iran aggression over the strait of Hormuz was compounded by Houthi threats to target vessels carrying Saudi oil through the Bab el-Mandeb strait. Continue reading...
Bloomsbury has 14,087 titles listed in agreement between AI startup and authors over use of their work The publisher of Harry Potter has received a multimillion-pound payout as a beneficiary of a $1.5bn (£1.12bn) copyright settlement between the AI startup Anthropic and thousands of authors over the use of their protected work to power chatbots. Bloomsbury, which is home to the bestselling novelists Sarah J Maas and Susanna Clarke as well as JK Rowling, said it had 14,087 titles listed within the settlement, with a proposed compensation of about $3,000 a title. Continue reading...
Ex-chief executive Matthew Wright among those named in criminal proceedings by Environment Agency Britain’s Environment Agency (EA) is bringing a fraud case against four former Southern Water employees, including the former chief executive Matthew Wright, over allegations they manipulated wastewater testing results. The regulator said the four had allegedly conspired to defraud the Environment Agency and water regulator Ofwat between 2012 and 2017 by creating artificial “no-flow” events at wastewater treatment works to influence compliance checks. Continue reading...
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