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.

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

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

Trump signs order imposing 10% global tariff after Supreme Court ruling

U.S. President Donald Trump signed an executive order Friday evening imposing a new 10% global tariff on all imports.

China’s BYD overtakes Tesla as world’s top EV seller in 2025

Chinese automotive powerhouse BYD has officially dethroned Tesla to become the world’s leading seller of electric vehicles on a calendar-year basis.

Apple hits $4 trillion valuation amid iPhone 17 surge

Apple has become only the third publicly traded company in history to briefly crack the $4 trillion market value milestone.
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Scotland, Wales and Northern Ireland leaders call for constitutional change in UK

The leaders of Scotland, Wales and Northern Ireland have signed a joint memorandum calling for constitutional change, asserting their nations' right to determine their own futures.
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