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The oil supply shock caused by the Iran war has eroded global demand for crude — but a lasting resolution to the conflict could drive a surge in supply volumes and trigger a major oil overhang next year, the International Energy Agency said on Wednesday.In its latest monthly oil market report, the IEA slashed its 2026 demand outlook to 1.1 million barrels a day year-over-year in 2026. That’s a 700,000-barrel-per-day downgrade from last month’s estimate, after deliveries plunged by 5 million barrels per day in the second quarter, the IEA said.Global supply, meanwhile, slumped to 94.5 million barrels a day…
British luxury carmaker JLR targets double-digit revenue rise, US growth Source link
Android for your wrist is getting an upgrade today, assuming you have a Pixel Watch. Google says Wear OS 7 is a major update that brings Gemini Intelligence to the latest models. It’s not all AI, though. For starters, Google claims Pixel Watch users can expect a 10 percent battery life boost after the update. The new software, based on Android 17, ports several notable phone features to wearables, including live notifications. You can now track your DoorDash orders or check sports scores at a glance. The audio source picker from phones is also coming over to the Pixel Watch.…
The prime minister spoke to the BBC ahead of the Makerfield by-election on Thursday. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sir Keir Starmer has indicated Andy Burnham should have a cabinet job and play a “big role in government” as the beleaguered prime minister tries to head off a looming leadership challenge.Ahead of the crucial Makerfield by-election on Thursday in which Burnham is attempting to return to parliament, Starmer described his potential challenger as a “great asset” after being asked by Sky News if he should be in the cabinet. He added: “And, yes, I want him to have a big role…
More and more central banks are storing gold bullion at home rather than overseas, as they expect to buy more of the safe-haven asset amid heightened geopolitical tensions.These are among the findings of the World Gold Council’s annual Central Bank Gold Reserves survey. It found that monetary authorities still see gold as a key hedge against inflation, geopolitical shocks and currency risk, despite a recent pullback in prices during the Iran conflict.Stock Chart IconStock chart iconGold futures.Central banks have bought an average of 1,000 tonnes annually over the past four years — double the average over the previous decade, per…
Why is Straumann stock surging today? Source link
Chiefs of the world’s leading AI companies are descending on the G7 conference in France Wednesday, in a sign of their growing geopolitical influence as artificial intelligence rises to the top of the global agenda.CEOs including OpenAI’s Sam Altman, Anthropic’s Dario Amodei, Google DeepMind’s Demis Hassabis, alongside around a dozen other tech leaders, will take part in a lunch meeting at the summit in Evian on Wednesday. Frontier AI risks, infrastructure and sovereignty are all expected to be discussed at the conference. The protection of children online will also be a key part of the discussions, The Élysée Palace, the…
Sir Keir Starmer urges Andy Burnham and his party not to focus on a leadership contest after the Makerfield by-election. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Volkswagen, Renault, Mercedes-Benz, Porsche — the number of European carmakers eyeing the fast-growing defence sector for growth is increasing almost by the week.The logic is simple: a struggling automotive industry with plenty of spare capacity because of weak sales could help fill its factories with booming defence orders as the entire continent re-arms. Germany is expected to spend more than €750bn on its military by the end of 2030.But dig into the details and much of the activity seems more about generating…