Author: omc_admin
AI can help write boring emails, speed up coding, and even decide who gets promoted at one of the world’s largest companies.In an episode of the “All In” podcast released on Tuesday, Google cofounder Sergey Brin said he has been using AI for some of his leadership tasks since returning to the company.”Management is like the easiest thing to do with the AI,” Brin said.Brin cofounded Google with Larry Page in 1998 and served as its president until stepping down in 2019. He returned to the search giant in 2023 to help develop AI products as the company races against…
On Tuesday, the United Kingdom government suspended free trade negotiations with Israel in response to its military conduct in the war on Gaza and the expansion of illegal settlements in the occupied West Bank. Addressing the parliament, Foreign Secretary David Lammy said the UK government couldn’t continue talks on upgrading its existing trade agreement with an Israeli government pursuing what he called “egregious policies” in Gaza and the occupied West Bank. This came a day after the UK, France and Canada threatened to take “concrete actions” against Israel if it does not stop its renewed offensive and lift aid restrictions…
India’s ONGC, the biggest oil and gas company in the country, reported a 35% drop in profits for the fourth-quarter of its financial year, citing higher exploration costs. Profits for the full year to March 2025 also fell but more modestly, by 15%.The company attributed the lower results to exploratory oil well drilling cost writeoffs. The average realized price for the oil it sold during the fourth quarter was $73.72 per barrel, which was down by 9% from a year earlier, the Economic Times reported.ONGC accounts for as much as 70% of India’s oil and gas production. However, in a…
The UK urged its Group of Seven allies to agree a cut to the price cap on Russian oil, saying the move is necessary to put further pressure on President Vladimir Putin to end Russia’s war in Ukraine. “Pressure on Russia’s war machine is needed now more than ever,” the UK’s Treasury said in a statement on Wednesday, after Chancellor of the Exchequer Rachel Reeves chaired a session on Ukraine at the G7 finance ministers’ meeting in Banff, Canada. “Putin has failed to engage in good faith with proposals from Zelenskiy to meet directly and attempts to broker a ceasefire…
KNOT Offshore Partners LP has reported a net income of $7.6 million for the first quarter of 2025, slipping from the $23.3 million for Q4 2024. The company said in its quarterly report that revenues stood at $84 million, down from $91.3 million for the previous quarter, and earnings before interest, taxes, depreciation, and amortization (EBITDA) landed at $52.2 million, versus $63.1 million for Q4 2024. Commenting on the Q1 results, Derek Lowe, Chief Executive Officer and Chief Financial Officer, noted that fleet utilization was above 99 percent during the quarter. “As of the date of this release and including…
OMV AG Chairman and Chief Executive Officer Alfred Stern has decided to see his current term until August 31, 2026, out and not make himself available for reappointment. Stern has been the CEO of OMV Group since September 1, 2021, and also serves as Chairman of the Supervisory Boards of OMV Petrom and Borealis, and a member of the Board of Directors at Air Products and Chemicals, OMV said in a press release. “As CEO, Alfred Stern initiated the most extensive transformation in OMV’s corporate history. During his current term, he has pursued this path with consistency and remarkable success,…
Crude oil prices, which had been on the rise earlier this week, retreated partially following a report of an inventory build in the United States that traders apparently did not expect as well as uncertainty surrounding geopolitical developments in the Middle East.At the time of writing, Brent crude was trading at $64.82 per barrel and West Texas Intermediate was changing hands for $61.50 per barrel, both down from Wednesday’s close.The dip followed the U.S. Energy Information Administration’s latest weekly inventory report, released yesterday, which revealed builds across the board. Crude oil inventories added 1.3 million barrels, the EIA said, and…
Russian President Vladimir Putin tours an exhibition at the Central Museum of the Great Patriotic War on Poklonnaya Gora in Moscow, Russia, April 30, 2025.Alexander Kazakov | Via ReutersRussia has shown little appetite for peace negotiations with Ukraine, despite Moscow making a show of what war experts described as “performative ceasefires,” and a number of attempts by U.S. President Donald Trump to persuade Russian leader Vladimir Putin to talk to Kyiv.In fact, Moscow is widely believed to be planning a new summer offensive in Ukraine to consolidate territorial gains in the southern and eastern parts of the country, that its…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.After garnering an early reputation as a successful if somewhat boring Norwegian chief executive, Helge Lund has now found himself at the centre of corporate drama at not one but two of Europe’s biggest companies.The 62-year-old former McKinsey consultant has become a lightning rod for shareholder dissatisfaction at oil and gas group BP and drugmaker Novo Nordisk as chair of both businesses.At BP, Lund has presided over a board that changed both strategy and chief executives, while facing pressure from a large…
New Delhi: Oil India Limited (OIL) reported a 10.13 per cent rise in profit after tax (PAT) at ₹6,114.19 crore for the financial year 2024–25, compared to ₹5,551.85 crore in the previous year.The company recorded its highest-ever combined crude oil and natural gas production at 6.71 million metric tonnes of oil equivalent (MMTOE) during the year. Crude oil production increased by 2.95 per cent to 3.458 million metric tonnes (MMT), while natural gas output grew by 2.20 per cent to 3.252 billion cubic metres (BCM).In its meeting held on May 21, the Board of Directors recommended a final dividend of…