Global energy markets are adjusting to the prospect of sustained supply constraints, with crude oil futures prices remaining elevated as geopolitical conflict in the Middle East continues to disrupt trade flows. The dominant sentiment among market participants has shifted from an expectation of a swift resolution to the war between the United States, Israel and […]

European consumers are set to face a difficult winter as energy prices continue to climb, with gas reserves falling to their lowest levels since 2022. The European Union has already incurred an additional €100 billion in oil and gas costs this year, adding to a cumulative extra expenditure of over €900 billion since 2022. Despite […]

Amazon has officially confirmed that its robotic workforce has surpassed the one million mark. This expanding fleet comprises mechanical arms, floor cleaning units and large pallet sorting machines. The deployment is designed to accelerate delivery times and reduce operational overhead across the company’s logistics network. However, the rapid integration of these machines presents a direct […]

Meta has removed specific language from its commercial terms that legal experts argued permitted the company to scrape content from news sites for artificial intelligence training. The update follows significant backlash from media organisations and legal scholars who believed the previous wording granted Meta broad rights to use external content without permission. The revised terms […]

Bolivia is confronting a severe energy crisis driven by years of underinvestment in its natural gas sector and the escalating geopolitical tensions surrounding the war in Iran. The South American nation is experiencing rising fuel prices and widespread shortages, a situation exacerbated by the depletion of domestic reserves and a lack of successful new gas […]

Rolls-Royce is set to nearly double the size of its manufacturing facility in Goodwood, West Sussex, as part of a £300m investment by its parent company, BMW. The expansion is designed to accommodate the growing complexity of customisation requests from a clientele that is becoming younger and more technologically wealthy. The carmaker stated that the […]

Major United States corporations and trade associations launched a sustained two-year campaign to delay and dilute the European Union’s Deforestation Regulation, according to a new investigation by the environmental watchdog Mighty Earth. The report describes the effort as a blitz aimed at influencing the world’s most progressive legislation for forest protection. The advocacy group found […]

Two global election markets on the offshore prediction platform Polymarket generated over $600 million in trading volume, a figure that significantly exceeds the activity typically seen in political markets. The majority of this financial activity involved the buying and selling of contracts tied to long-shot candidates who ultimately did not win their respective elections. This […]

The international copper market is poised for a significant shift in supply dynamics, with the global refined copper surplus expected to more than triple next year. The International Copper Study Group predicts that production growth will outpace consumption, resulting in an excess of 368,000 tonnes in 2027. This represents a substantial increase from the 104,000 […]

The chief executive of Airbus has written to Prime Minister Andy Burnham to warn that selecting its American rival Lockheed Martin for the manufacture of new military satellites could jeopardise the United Kingdom’s position within the European space industry. The intervention marks a significant escalation in lobbying efforts surrounding the multi-billion pound Skynet 6 contract, […]

The number of vessels reporting attacks in and around the Strait of Hormuz has reached a record high, according to an analysis of data from a United Kingdom maritime agency. Twelve ships were struck between 5 and 11 October, marking the largest number of weekly incidents reported to the UK Maritime Trade Operations agency since […]

Shares in major British banks declined in early trading following reports that Chancellor John Healey is preparing to raise taxes on the financial sector. The move is expected to be announced during the Budget scheduled for the end of the month. Market sentiment turned negative as investors reacted to the prospect of increased fiscal levies […]

Analysts at UBS have warned that a proposed increase in taxes on the banking sector would drive up mortgage rates and reduce savings returns, thereby exacerbating the cost of living crisis. The investment bank argues that lenders would pass on the higher tax burden to customers, undermining the Labour government’s stated aim of providing households […]

New inheritance tax regulations scheduled for implementation in April 2027 will fundamentally alter how individuals utilise pension funds for wealth transfer. Under the proposed changes, most unused pension funds will be brought within the scope of inheritance tax, ending a long-standing practice where pensions served as a primary vehicle for passing wealth to the next […]

London’s blue-chip index edged higher this morning, driven by a recovery in technology shares following a significant sell-off earlier in the week. The broader market sentiment improved as investors regained confidence in the sector after recent volatility. Asian equity markets also reversed course overnight, undoing losses from a heavy selling session. South Korea’s Kospi index […]

HMRC recovered an additional £110m in tax from the UK football industry during the year to April, according to new data. The figure was generated through 68 investigations opened across players, clubs and agents, a reduction from the 118 cases conducted in the previous accounting period. The information was obtained through freedom of information requests […]

A sharp sell-off in artificial intelligence and semiconductor shares has gripped global markets, driven by renewed concerns over rising inflation and the potential for further interest rate increases. The downturn has particularly affected heavily indebted technology sectors, spooking traders who were already wary of the financial exposure within the AI industry. This accelerating decline marks […]

Businesses in Jersey have expressed concern that a proposed freeze on fuel duty for 2027 will provide only limited relief against rising global diesel prices. The island government has suggested maintaining the current rate of duty to help ease cost-of-living pressures, a move welcomed by some operators but criticised by others who argue it is […]

The International Monetary Fund has advised the British government to prioritise reductions in pension and welfare spending over increasing taxes on the banking sector. Helge Berger, the deputy director of the IMF’s European department, made these remarks while speaking in Bangkok during the organisation’s annual meetings. He stated that given the United Kingdom’s currently high […]

The United Kingdom’s economy recorded a modest expansion in August, a development that offers a measure of reassurance to Chancellor John Healey ahead of his maiden Budget. According to the Office for National Statistics, gross domestic product grew by 0.1 per cent during the month. This figure represents a sharp deceleration from the 0.4 per […]

Anglo American has engaged in discussions with technology firms regarding potential equity investments, a move designed to secure long-term supplies of metals critical for data centre infrastructure. Chief executive Duncan Wanblad revealed these talks at the Financial Times Metals and Mining Summit in London, noting that while no shares have been exchanged yet, there have […]

Meta and Google have significantly advanced their artificial intelligence capabilities this week, focusing on high-performance frontier models. Meta released Muse Wonder and Muse Wonder Full, which are designed specifically for AI agents. Simultaneously, Google made Gemini 4 Argon available to the public, noting that the model achieved a top score on tasks related to finance, […]

Analysts have cautioned that Nvidia’s recent $250m commitment to British artificial intelligence safety research could exacerbate the United Kingdom’s reliance on American technology. The warning comes as the world’s most valuable company pledges to support domestic research into autonomous AI agents. Experts argue that unless government ministers ensure researchers retain full control over safety standards, […]

Helen Whately, the shadow pensions minister, has issued a stark warning to Andy Burnham, stating that he will live to regret the decision to scrap the triple lock on the state pension. Speaking at the annual Pensions UK conference on Wednesday, Whately argued that the Labour leader has created a significant new financial challenge by […]

Inflation in the United States rose by more than anticipated in the year to September, according to official figures released in the final data update before the midterm elections. The pace of price increases accelerated to 3.7 percent, up from 3.4 percent in the twelve months to August. This higher-than-expected rise was primarily driven by […]

The managing director of the International Monetary Fund has cautioned financial ministers that the widespread adoption of artificial intelligence poses a significant risk to global tax revenues. Kristalina Georgieva stated that governments may be ill-prepared for a potential decline in income derived from the labour market as the technology reshapes employment structures. Speaking at the […]

Reform UK has levelled criticism at Deloitte and KPMG for reducing their British workforces while simultaneously increasing the number of migrant workers they employ. Robert Jenrick, the party’s economic spokesman, made the allegations in a video posted outside Deloitte’s London headquarters. He claimed that Deloitte dismissed 800 UK-based staff members but hired 8,800 foreign workers […]

A group of Lloyd’s syndicates has appealed to the Court of Appeal against a ruling that requires them to continue providing legal defence funding for two former Petrofac executives. The insurers are seeking to overturn a High Court decision that blocked their attempt to withdraw £45m in coverage for Marwan Chedid and George Salibi, who […]

Applications for onshore wind projects in England have begun to increase significantly following the removal of a de facto ban on new development. Government data indicates that 45 applications were submitted in the year ending March 2026, marking a notable shift in activity levels. This growth comes two years after the Labour government assumed power […]

The United Kingdom’s economic performance in August defied market expectations, recording a 0.1 per cent increase in gross domestic product. This positive figure stands in contrast to the prevailing narrative of a sluggish economy that has characterised the past decade and a half. While the magnitude of the growth is modest, it exceeded the forecasts […]

PLC Resources has commenced a two-stage satellite geo-spectral survey across its Abbotts Gold Project in the Murchison region of Western Australia. The initiative covers a project area spanning approximately 205 square kilometres, which encompasses four tenements held by the company. The survey is being conducted by Geo Spectra with the objective of mapping alteration minerals […]

EnergyPathways has announced it is accelerating the development of its low-carbon hydrogen and graphite production facility at Barrow-in-Furness in Cumbria. The company stated in a stock market update that it is engaging with a Finnish firm’s technology to speed up the roll-out of this component of its Marram Energy Storage Hub project. Management indicated that […]

The London stock exchange recorded its lowest number of listings since 2023, with only one public offering completed in the third quarter. This single transaction, the AIM listing of 1947 Oil & Gas plc, raised £29.8m. According to analysis from EY, this marks the quietest period for the market since the fourth quarter of 2023, […]

Prime Minister Andy Burnham has indicated that a decision on oil and gas drilling at the Jackdaw and Rosebank sites in the North Sea is imminent, following a period of bureaucratic delay. The Prime Minister told Members of Parliament that he would adopt a pragmatic approach to the matter, responding to urgent calls from the […]

Inflation in the United States accelerated to an annual rate of 3.7 per cent in September, marking the highest level since the spring and presenting a significant challenge for the Republican party ahead of the upcoming midterm elections. Data released on Wednesday by the Bureau of Labor Statistics indicates that price increases rose from 3.4 […]

The Bank of England is unlikely to implement the four interest rate increases currently anticipated by financial markets, according to its chief economist. Huw Pill, who holds the most hawkish record on the Monetary Policy Committee, expressed scepticism regarding the necessity for such a sharp tightening of monetary policy. This assessment was made during a […]

Water companies in England and Wales are set to return £107m to householders through reduced bills after the industry regulator determined that several providers failed to meet agreed performance targets. The decision, which affects major utilities including Thames Water and Yorkshire Water, represents a significant financial adjustment for the sector. Ofwat stated that the outcome […]

Kistos has agreed to acquire a ten per cent interest in offshore Norwegian licences from Vår Energi for $12.9 million, equivalent to £9.72 million. The transaction involves the purchase of stakes in the Balder Area, specifically covering licences PL 169E, PL 956 and PL 956B on the Norwegian continental shelf. This acquisition builds upon the […]

A listed investment vehicle managed by Octopus Energy Group has agreed to purchase a solar farm under construction in Yorkshire for £34.6 million. The asset, known as the Barnsdale Solar Park, is currently being developed by Sunderland-based OnPath Energy. The transaction involves a 40 megawatt facility situated on 87.3 hectares of land. OnPath stated that […]

The Federal Court of Australia has ruled that a heritage protection order issued in 2024, which effectively stalled the development of the McPhillamys goldmine in New South Wales, is legally invalid. The court overruled the decision made by former environment minister Tanya Plibersek under the Aboriginal and Torres Strait Islander Heritage Protection Act. This ruling […]

Federal Reserve officials have acknowledged that the rapid expansion of artificial intelligence infrastructure is contributing to rising prices across the wider economy. This admission marks a shift in the central bank’s narrative, which had previously attributed inflationary pressures primarily to tariff policies and geopolitical conflicts. The surge in AI-related investments is now identified as a […]

The United Kingdom has formally appealed to Interpol to reject Argentina’s requests for the arrest of individuals associated with a major offshore oil project in the Falkland Islands. British officials have characterised these international arrest warrants, known as red notices, as politically motivated attempts to deter commercial activity in the British overseas territory. This diplomatic […]

Bank of America has been ordered to pay more than $1.21 billion in penalties for violations of anti-money laundering and sanctions laws, the US Treasury Department announced on Tuesday. The financial institution admitted to willful breaches of the Bank Secrecy Act, with regulators citing a compliance programme that was both deficient and ineffective. The penalties […]

Goldman Sachs chief executive David Solomon has highlighted significant financing risks associated with the rapid expansion of artificial intelligence infrastructure. Speaking during the bank’s third-quarter earnings call, Solomon noted that the scale of required investment presents challenges that extend beyond the financial sector. The bank reported strong results for its stock market businesses, with equities […]

Meta has initiated legal proceedings against the UK’s media regulator, Ofcom, challenging the methodology used to calculate fees and financial penalties under the Online Safety Act. The technology company argues that the current approach is both disproportionate and unlawful, specifically contesting the definition of qualifying worldwide revenue that Ofcom employs for firms generating over 250 […]

SSR Mining has agreed to purchase Nevada-based explorer Roxmore Resources for 464 million dollars, a transaction valued at 660.1 million Canadian dollars. The all-cash acquisition secures Roxmore’s Converse project, situated six kilometres west of SSR’s existing Marigold mine. This strategic move is designed to extend the operational life of the Marigold asset to 20 years […]

BW Energy has secured $208m in project-level lease financing for the Akoum wellhead platform planned for the Bourdon field offshore Gabon. The company simultaneously announced the signing of an 18-month extension to its $250m revolving credit facility. The lease will finance the full capital cost of the platform, which is being developed within the BW […]

BP has confirmed it is on track to reduce its net debt earlier than previously anticipated, driven by strong performance in gas sales and trading alongside asset disposals. The energy major stated in its latest market update that it maintains a strict focus on strengthening its balance sheet, a strategy that has yielded significant results […]

The International Monetary Fund has issued a stark warning that the global economy may soon reach the limits of its resilience, citing depleted emergency oil reserves and overstretched government budgets. In its latest World Economic Outlook, the fund noted that while global growth has withstood recent Middle East conflicts better than initially feared, the capacity […]

Major UK retailers and hospitality operators have urged the chancellor to reduce the financial burden of employing young people ahead of his first budget. The group, which includes Tesco, Costa Coffee and the Co-op, met with John Healey to discuss the impact of recent changes to employers’ national insurance contributions. They are seeking a partial […]

The number of UK investors holding stocks and shares ISAs worth at least one million pounds has reached a record high. Data obtained through a freedom of information request to HMRC by financial app Plum indicates that the total count rose by more than 50 per cent during the 2023/24 tax year. The figure climbed […]

Millions of drivers who were mis-sold car finance agreements will not receive compensation until at least 2027, the Financial Conduct Authority has confirmed. The delay is a direct result of legal challenges to the regulator’s central compensation scheme, which are scheduled to be heard by the UK’s Upper Tribunal in February 2027. Consequently, lenders are […]

Emissions from oil and gas production in the North Sea have decreased for the sixth consecutive year, according to the North Sea Transition Authority. The regulator reported that production emissions have dropped by an estimated 37 per cent between 2018 and 2025. This latest period saw a year-on-year reduction of seven per cent in 2025, […]

British van drivers are projected to incur an additional £2.5 billion in diesel expenses this year, a figure that has intensified calls for the government to abandon its planned increase in fuel duty. The rising costs are attributed to record high diesel prices, which have been driven by a global fuel shortage resulting from disruptions […]

The nascent carbon capture and storage sector in the United Kingdom faces significant headwinds as the government is reported to be considering substantial reductions in public funding. Industry leaders have cautioned that slashing the energy department’s budget by two billion pounds would stymie investment and damage investor confidence in a sector that currently relies heavily […]

Prime Minister Andy Burnham has stated that the government will adopt a pragmatic approach to strengthening relations with the European Union. This declaration was made just two weeks after the Prime Minister indicated he might explore a full return to the bloc. Speaking to members of parliament on Monday, Burnham confirmed that a summit with […]

Senior executives from Stellantis and Renault have called for the United Kingdom to be included in the European Union’s proposed industrial protection measures, while simultaneously urging the British government to restrict the import of Chinese vehicles. The leaders of the two major automotive groups argued that the UK should be treated as equivalent to the […]

Global crude oil prices reached their highest levels in nearly two weeks on Monday morning. The increase was driven by fresh attacks on Saudi Arabia and oil tankers near the Strait of Hormuz. These events have placed Middle East supply risks back at the centre of market attention. This geopolitical tension outweighed recent announcements by […]

Energy Exploration Technologies has entered into a binding ten year offtake agreement with the global commodities trader Trafigura. The contract secures the purchase of 100,000 metric tons of battery grade lithium products over the duration of the term. Based on current market valuations of approximately 20,000 per metric ton, the company estimates the arrangement will […]

British retail sales recorded sluggish growth in the twelve months to September as consumer caution intensified ahead of the upcoming Autumn Budget. Total sales at retailers rose by 1.3 per cent, a significant deceleration from the 2.3 per cent increase recorded in the same period last year. The British Retail Consortium and KPMG highlighted that […]

Bank of America has disclosed specific financial returns from its artificial intelligence initiatives, marking a significant shift in how major financial institutions report on technology investment. Chief Executive Officer Brian Moynihan stated that the bank currently operates between 130 and 140 AI projects. These initiatives have incurred a cost of $400 million while generating benefits […]

A large-scale cyberattack has caused refrigeration units in hundreds of French supermarkets to heat up to 50C, resulting in significant food losses and fires. The Paris prosecutor’s office described the incident as unprecedented, noting that connected refrigerators at several major food retailers across the country were affected. The attack forced temperatures to rise overnight, prompting […]

Aberdeen-based OEG has been awarded a contract by Danish renewables developer Ørsted to supply temporary power for the Hornsea 3 offshore wind farm. The agreement covers the commissioning of the offshore converter station as well as turbine installation and commissioning works. Under the terms of the deal, OEG will provide power onboard a jack-up vessel […]

Progressive Energy has established a new business unit called Oserra Connect to facilitate carbon capture and storage for industrial sites that are not located near existing pipeline infrastructure. The developer, which is responsible for the HyNet and Peak Cluster projects, aims to provide universal access to permanent carbon storage across the United Kingdom. This new […]

Brad Smith, the president of Microsoft, has argued that artificial intelligence currently faces less regulatory scrutiny than everyday consumer products such as milk and washing machines. Speaking on the BBC’s Big Boss Interview podcast, Smith called for the implementation of global safety rules to govern the sector. He stated that there is an urgent need […]

The European Union’s technology commissioner has stated that the regulatory framework established by the AI Act is sufficiently robust to manage the risks associated with autonomous artificial intelligence systems. Henna Virkkunen, the EU tech chief, shared this assessment in an interview with Reuters published on Friday, October 9. She emphasised that the legislation addresses the […]

The United Kingdom economy is projected to have experienced a contraction in August, reversing the positive momentum observed in the preceding months. According to a poll of City economists conducted by Bloomberg, the latest gross domestic product data, scheduled for release on Thursday, is expected to indicate a decline of 0.1 per cent. This anticipated […]

Energy and foreign policy experts have predicted that the agreement between Donald Trump and Vladimir Putin to temporarily lift sanctions on Russian diesel imports will have little meaningful impact on fuel prices in the United States or abroad. The US president announced the deal on Friday, claiming it was essential to reduce soaring fuel costs […]

Yandex has suspended operations at a data centre near Moscow following a Ukrainian drone attack that damaged the facility. This incident marks the third strike on the Russian technology giant’s infrastructure this week. The company, frequently referred to as Russia’s Google, confirmed that no personnel were injured during the assault on the site in Vladimir, […]

The rapid expansion of artificial intelligence infrastructure in the United States is projected to significantly increase reliance on gas-fired power generation. A new analysis by the Environment America Research and Policy Center indicates that gas generator capacity will rise by 44 percent over the next four years. This growth is attributed to the substantial electricity […]

Oliver Blume, the chief executive of Volkswagen, has voiced support for European Union proposals designed to strengthen the bloc’s domestic manufacturing base. Speaking in Paris ahead of the upcoming motor show, Blume argued that European carmakers require the ability to compete under comparable conditions with their Chinese counterparts. He stated that the proposed regulations, which […]

North Sea oil and gas producers are calling on the United Kingdom government to scrap the existing windfall tax and approve two major offshore projects. The industry argues that these measures are essential to unlocking investment and meeting domestic energy needs. Prime Minister Andy Burnham has yet to make a final decision on the controversial […]

The Institute for Fiscal Studies has warned that soaring inflation presents a more significant challenge to the government’s finances than rising borrowing costs. The think tank suggests that the Chancellor may need to commit to an additional thirty-five billion pounds in spending by the end of the decade to prevent the real value of departmental […]

The New South Wales Independent Planning Commission has granted approval for the Hunter Valley Operations Continuation Project, permitting the largest coal mine in the region’s history to extend its operations until 2045. The decision allows for the extraction of an estimated 429 million tonnes of coal from both the North and South sites. This approval […]

British food producers are intensifying warnings regarding the vulnerability of the nation’s supply chains, citing a convergence of rising operational costs and climatic instability. Jamie Burrows, chair of the crops board at the National Farmers’ Union, described the current environment as extremely difficult for arable farmers. Speaking from his farm in Norfolk, Burrows highlighted that […]

The United Kingdom faces the risk of becoming an incubator nation, a status in which it nurtures promising start-ups only to lose them to rival markets before they reach their full potential. This warning was delivered to Chancellor John Healey by the Capital Markets Industry Taskforce, which urged immediate action to revitalise the London stock […]

A rapidly expanding form of cybercrime is targeting users through their electronic calendars, with threat detection experts reporting exponential growth in incidents. The scam involves fraudulent meeting or renewal reminders appearing in victims’ schedules, designed to lure them into logging in to fake versions of popular platforms such as Google, Microsoft, or PayPal. Unlike traditional […]

Apple has disclosed a regulatory agreement to employ personnel from the personalised audio startup Huxe and to obtain a non-exclusive licence to its intellectual property. The arrangement, described as a reverse acqui-hire, was revealed in a filing submitted to the European Commission. This type of deal allows larger corporations to secure key talent and technology […]

Global oil inventories are approaching critical operational minimums as international bodies continue to release emergency stocks to stabilise fuel markets. The International Energy Agency announced earlier this week that it would release an additional 100 million barrels of diesel, gasoline, and crude oil. This move is part of a broader plan agreed in March to […]

US President Donald Trump has announced a significant agreement to purchase millions of tonnes of diesel fuel from Russia, a move that has immediately triggered a sharp diplomatic rift with Ukraine and its European allies. The decision, which Trump described as essential for lowering domestic fuel prices, appears to undermine years of Western pressure on […]

Microsoft chief executive Satya Nadella has called for a fundamental reassessment of how artificial intelligence systems are governed, arguing that current safety measures are insufficient. In a post on the social media platform X, Nadella stated that the industry must step back to evaluate the underlying trust architecture of these technologies. He cautioned against treating […]

The ongoing conflict in Iran has inadvertently accelerated a global transition away from fossil fuels, exposing significant vulnerabilities in international energy trade. Restrictions on shipping through the Strait of Hormuz have highlighted the heavy reliance of many nations on this waterway for oil and gas imports. In response, governments are increasingly seeking alternative suppliers and […]

NASA has issued a formal request for proposals to the United States commercial space sector, initiating a competition to develop private space stations that will succeed the International Space Station. The agency aims to secure a sustained human presence in low-Earth orbit as early as 2030, ensuring a dedicated environment for scientific research, technology development, […]

Shares of Revolution Medicines declined by six per cent on Thursday after the release of review documents from the Food and Drug Administration. The newly disclosed information suggests that the company’s pancreatic cancer drug, Rasonque, may not be as broadly effective as previously anticipated. Specifically, the documents indicate that the medication might be less effective […]

Tesla has agreed to rename its advanced driver assistance software in Europe, replacing the term Full Self-Driving with Tesla Assisted Driving. The change follows negotiations with German authorities and marks a significant shift in the company’s branding strategy for the region. This concession is expected to facilitate the approval and subsequent release of the software […]

Iambic Therapeutics has set a price range for its initial public offering, aiming to raise approximately $135m to fund the clinical development of its artificial intelligence-driven oncology portfolio. The biotechnology company, which has secured backing from major pharmaceutical firms and technology giants, is offering 9.4 million shares at a price between $15 and $17 each. […]

The United States has agreed to import hundreds of thousands of tons of diesel fuel from Russia, a significant reversal in policy that underscores the mounting pressure on the administration to curb soaring fuel prices. President Donald Trump announced that Russian President Vladimir Putin has consented to supply this fuel to American and global markets […]

The European Union and China have reached a significant trade agreement designed to halve the volume of hybrid cars exported from Beijing to the bloc. Trade Commissioner Maroš Šefčovič announced the deal on Friday, describing it as the first of its kind and the result of intense negotiations that began in June. The agreement aims […]

Boots is set to enter its 178th year under new ownership following the agreement of a £7bn deal this week. The pharmacy and retailer, a long-standing fixture on Britain’s high streets, will be acquired by Wittington Investments. This holding company is controlled by the Weston family, a wealthy Canadian group with deep roots in the […]

Hurricane Isaias has forced the shutdown of nearly 1.46 million barrels per day of oil production in the United States Gulf of Mexico. The Marine Minerals Administration reported on Friday that operators had shut in 1,458,814 barrels per day, representing 71.51% of current Gulf oil production. Natural gas output was also significantly impacted, with 1.26 […]

The Buchan offshore wind farm has secured certification for its foundation technology, positioning the project to seek offshore consent before the end of the current year. The 960MW development, located 47 miles off the coast of Fraserburgh, achieved a significant milestone when DNV certified the Damping Pool structure developed by BW Ideol. This progress offers […]

The European Commission has designated two copper projects proposed by Polish producer KGHM Polska Miedz as strategic under the Critical Raw Materials Act. The combined value of the investments is 9.5 billion zlotys, equivalent to $2.44 billion. The designation covers the Retków-Grodziszcze mining project and the conversion of the Legnica smelter into a recycling facility. […]

Royal Mail has confirmed plans to reduce its head office and supporting workforce by 2,500 roles by the end of 2027. The postal service stated that the reductions, which equate to approximately two per cent of its 131,000 employees, are intended to improve operational efficiency amid intensifying competition and a sustained decline in letter delivery […]

E.ON Next has completed its acquisition of Ovo Energy, a move that results in just three suppliers serving almost three-quarters of households in Great Britain. The transaction concluded on Thursday following clearance from the UK competition watchdog, despite ongoing concerns that a reduced number of market participants may diminish consumer choice and reduce the incentive […]

Magna Mining has sanctioned a $70 million restart of its Levack nickel-copper mine near Sudbury, Ontario, with the objective of achieving commercial production by mid-2028. The decision marks a significant expansion for the Toronto-listed company, which aims to establish a multi-mine business model leveraging the existing infrastructure in the region. This new operation will complement […]

Aberdeen-based Saltire Energy has been acquired by the United States firm Drilling Tools International Corp in a transaction described as a multi-million pound deal. The acquisition marks a significant milestone for the Scottish company, which is celebrating its 40th year in business. Mike Loggie, the founder and chief executive officer of Saltire, characterised the agreement […]

Ivanhoe Mines has reported a 19% quarter-on-quarter increase in copper production, with third-quarter output reaching 76,401 tonnes. The Canadian miner stated that this rebound brings production levels closer to those recorded in 2025 as mining operations continue to recover. The figure includes 68,188 tonnes of copper concentrate generated at the Kamoa-Kakula complex in the Democratic […]

Norwegian energy firm Vårgrønn has declined to deny speculation regarding its potential departure from the Green Volt floating offshore wind project. When approached for comment on the rumours, chief executive Stephen Bull stated that he could not comment on an active project. The development is currently being pursued in a fifty-fifty joint venture with Edinburgh-based […]

Senior executives at Goldman Sachs are positioned to receive a combined bonus of up to $500m, representing one of the largest compensation packages in the bank’s history. The total sum is scheduled to be distributed among 20 senior bankers, with chief executive David Solomon expected to receive approximately $100m. This individual award is composed of […]

Andrew Bailey, the governor of the Bank of England, has called on Chancellor John Healey to deliver a budget that reassures financial markets. This appeal comes after United Kingdom medium-term borrowing costs reached a fresh 19-year high, prompting significant volatility in government bond markets. Bailey emphasised that fiscal policy must be viewed as credible by […]