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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”.
Amazon holds engineering meeting following AI-related outages
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How Iran war laid bare the worlds reliance on Gulf oil and gas
Since the conflict began, the price of oil has soared and is currently trading at over a third higher at $100 a barrel, pushed up by air strikes on shipping and energy infrastructure, and the effective closure of the Strait of Hormuz, a vital waterway for energy shipments, which carries a fifth of global oil…
UK economy shrank unexpectedly by 0.1% in October
Rachel ClunBusiness reporter PA Media The UK’s economy shrank unexpectedly in the lead up to the Budget, according to the latest official figures. The economy contracted by 0.1% in October, the Office for National Statistics (ONS) said, whereas economists had been expecting it to grow by 0.1%. The economy also shrank by 0.1% in the…
Rachel Reeves should avoid ‘half-baked’ tax fixes in Budget, says IFS
Michael Sheils McNameeBusiness reporter EPA Chancellor Rachel Reeves should avoid “directionless tinkering and half-baked fixes” when trying to boost the government’s tax take in next month’s Budget, a leading think tank has said. Taxes are widely expected to go up in the Budget, with pressure on the chancellor to raise money in order to meet…
