Tanker hit off Iran amid fears of oil price spike

These ships, typically oil tankers such as the one Ivan is stuck on, are more often ageing vessels of obscure ownership, unseaworthy, likely uninsured, and operationally hazardous. And they typically sail under flags of convenience or FOCs – the ships are registered in countries with very limited regulatory oversight.

Andy Burnham, who is widely expected to take over as prime minister later this month, has said there is “some room” for movement on tax. In an interview with LBC, Burnham suggested business rates on warehouses could be increased to fund tax cuts for pubs and some high-street businesses. But the newly elected Makerfield MP…

Michael RaceBusiness reporter PA Media Rishi Sunak has said not all jobs could be saved during the Covid-19 pandemic, but the government was able to prevent mass unemployment. The former prime minister, who was chancellor at the time, said it “wasn’t going to be possible to save every person’s job”. But he said the government…

Elon Musk’s platform X has limited image editing with its AI tool Grok to paying users, after it came under fire for allowing people to make sexualised deepfakes. There has been a significant backlash after the chatbot honoured requests from users to digitally alter images of other people by undressing them without their consent. But…