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EU steel tariff hike threatens ‘biggest crisis’ for UK industry
The EU has announced plans to hike tariffs on imported steel in a move the UK’s steel industry has said could be “perhaps the biggest crisis” it has ever faced. The commission has set out plans to cut the amount of steel that can be imported into the bloc by half – beyond which the…
Rachel Reeves suggests family benefit limits will be lifted
Paul SeddonPolitical reporter Rachel Reeves: I don’t think it’s right that a child is penalised for being in a bigger family Rachel Reeves has suggested she favours removing limits on benefits linked to family size at next month’s Budget. The chancellor told the BBC it was not right that children in bigger families were “penalised”…
Oil slides after US-Iran ceasefire deal to open Strait of Hormuz
In a social media post on Tuesday evening, Trump said: “I agree to suspend the bombing and attack of Iran for a period of two weeks… subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz”.
Maduro says Trump wants Venezuelas oil. But is that the real US goal?
Shanaz Musaferand Natalie Sherman AFP via Getty Images Venezuelan leader Nicolás Maduro says escalating pressure from the US comes down to one thing: Washington wants to grab the South American nation’s vast oil reserves. This week the American military seized an oil tanker, which was allegedly carrying Venezuelan oil being shipped in violation of US…
Oil price spiral may be slowed but not stopped by G7 emergency move
Releasing 300 million barrels of oil will not address all issues. As powerful as the G7 is, China, India, and South Korea remain the key customers for physical supply of Gulf oil and gas. As such, gas tankers from the US that had been bound for Europe are now doing Atlantic U-turns and heading for…
