Business

Oil surges above $108 as Hormuz attack and Saudi pipeline shutdown deepen supply fears

Brent crude surged above $108 a barrel on Sept. 14 as an attack on a merchant vessel in the Strait of Hormuz and the shutdown of Saudi Arabia’s key East-West Pipeline intensified concerns that critical Middle East energy routes are becoming increasingly vulnerable.

Europe EV sales surge 36% in August as China falls 11% and North America 33% year over year

Global electric-vehicle sales rose for a sixth consecutive month in August, with Europe providing the strongest growth among major markets as weaker sales in North America and China limited the overall increase.

US-Venezuela oil deal gives Washington access to 65 billion barrels

U.S. President Donald Trump has announced an agreement giving the United States majority control over more than 65 billion barrels of Venezuela’s proven oil reserves, establishing a potentially far-reaching U.S. role in the country’s energy sector.

Trump threatens 50% tariffs on Canadian cars and trucks, Canada announces retaliatory tariffs

U.S. President Donald Trump has threatened to raise U.S. tariffs on Canadian cars, trucks and automotive parts to 50% from 25% beginning Jan. 1, 2027, escalating a trade confrontation with Ottawa after trade talks failed.

Anthropic’s $2 trillion IPO ambition raises stakes for global AI valuations

Anthropic investors are preparing to back a valuation of $2 trillion or more when the artificial intelligence company goes public in October, a figure that would surpass SpaceX’s record IPO valuation and make the Claude developer’s debut the largest...

Elon Musk becomes world’s first trillionaire after SpaceX’s huge IPO

Elon Musk has become the first person in history to surpass a net worth of $1 trillion, following the public market debut of SpaceX on the Nasdaq.

UAE’s e& sells 12.5% stake in Careem to Uber for $100 million

UAE telecommunications group e& has agreed to sell part of its stake in Careem Technologies to Uber Technologies for $100 million in cash

Europe EV sales surge as Iran War pushes fuel prices higher

Demand for electric vehicles across Europe has surged following a sharp rise in fuel prices linked to the Iran war

UAE to leave OPEC on May 1 in blow to oil cartel amid oil market turmoil

United Arab Emirates will withdraw from Organization of the Petroleum Exporting Countries (OPEC) on May 1, 2026

Google plans to invest up to $40 billion in Anthropic to expand AI compute capacity

Google has announced plans to invest up to $40 billion in artificial intelligence startup Anthropic PBC

Latest News

Europe records busiest summer for air traffic despite Middle East war

Europe recorded its busiest summer for air traffic on record in 2026, with an average of 35,959 flights per day between June and August, even as the war in the Middle East disrupted established aviation routes and shifted holiday travel plans.