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Oil prices jump amid record tanker attacks in Hormuz
Oil prices surged as tanker attacks choke traffic through the Strait of Hormuz, while Hurricane Isaias threatens US Gulf Coast production and fuels fresh fears over energy supplies and inflation.
Europe bows to US pressure to release diesel reserves ahead of midterm elections
President Trump says Europe has agreed to release 100 million barrels of oil reserves, including a major diesel drawdown, as the US pushes to ease soaring fuel prices amid the Iran war.
Volkswagen strikes deal with Israel investment firm to turn car plant into defense facility
A Volkswagen factory that once built cars is getting a dramatic new mission: producing air-defense systems as Germany ramps up military spending.
OpenAI in talks to give Trump administration a 5% stake in the company, FT reports
OpenAI is reportedly discussing giving the U.S. government a 5% stake in the company as the Trump administration explores new ways to oversee—and benefit from—the booming artificial intelligence industry.
Mike Lynch and Morgan Stanley’s Jonathan Bloomer missing after luxury yacht sinks off Sicily
British tech tycoon Mike Lynch, Morgan Stanley International director Jonathan Bloomer, and Chris Morvillo, a prominent American lawyer, are among six people still missing after a tornado hit a luxury yacht off the coast of Sicily.
7-Eleven targeted by Circle K owner for huge convenience store tie-up
The Canadian owner of Circle K convenience stores has made a bid to buy 7-Eleven in what would be the biggest foreign takeover of a Japanese company on record and the largest cross-border acquisition this year.
One of the world’s biggest booze makers is ditching wine brands as the world drinks less
Pernod Ricard is selling most of its wine brands, as wine consumption is falling globally, and will instead focus on growing its champagne and premium spirits labels, including in the United States.
Armani and Dior probed in Italy following worker exploitation claims
Italy’s competition authority is investigating whether Armani and Dior have misled consumers about their production processes, following reports that local companies in their supply chains pay workers too little and force them to work long hours.
The electric car revolution is on track, says IEA
Global electric vehicle sales are set to rise by more than a fifth to reach 17 million this year, powered by drivers in China, according to the International Energy Agency.
Social Media Regulations in Brazil Urged After Clash with Elon Musk Reaches Breaking Point
Brazil’s attorney general has called for social media platforms in the country to be regulated after Elon Musk threatened to disobey a court order banning certain accounts on X and lashed out against “aggressive censorship.”