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2025-07-02T16:58:19Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Microsoft is culling more workers in its latest big round of layoffs so far this year. The company is laying off less than 4% of its workforce, or roughly 9,000 employees. Microsoft in May had cut 6,000 workers. Many of its tech peers have also recently conducted layoffs. Microsoft is cutting more…

(Investing) – Brent crude prices are expected to drop to the low-to-mid-$60 per barrel range in the near term as traders eye an expected uptick in OPEC+ production and a seasonal slowdown in fuel demand, according to analysts at UBS. In a note to clients, the brokerage predicted that oil markets will see a “larger surplus” after the key summer travel period, adding that prices are anticipated to move lower from current levels. Crude prices were little moved Wednesday, as traders digested progress towards an Israel-Hamas ceasefire and a build in U.S. inventories ahead of an upcoming meeting of the Organization…

French nuclear fuel giant Orano’s uranium mining subsidiary in northern Niger is on the verge of bankruptcy, raising alarms over future nuclear fuel supply chains amid deepening tensions with the ruling junta, Reuters reported on Wednesday. The company cited a breakdown in talks with Niamey and the blocking of essential equipment at the border as the primary drivers of the crisis.The COMINAK mine in the Arlit region once supplied up to 30% of France’s uranium needs. Although the mine ceased production in 2021, Orano remains responsible for post-mining environmental rehabilitation, which can no longer continue due to the Nigerien government’s…

Supermajors ExxonMobil, Chevron, TotalEnergies, and Eni are competing in Libya’s first oil bid round in 18 years, ‏Masoud Suleman, chairman of Libya’s National Oil Corporation (NOC), told Bloomberg in an interview published on Wednesday.Libya earlier this year launched its first oil and gas exploration tender since 2007, which is also the first since the civil war erupted in the country in 2011 after the toppling of Muammar Gaddafi.Exxon, Chevron, TotalEnergies, and Eni are among the 37 international companies that have expressed interest in Libyan acreage for oil and gas exploration, NOC’s Suleman told Bloomberg.“Almost all well-known international companies” are competing…

CANNES — Robinhood stock hit the $100 mark for the first time, capping off a week of fresh all-time highs and renewed investor confidence. Shares are now tracking their best performance since April, up more than 30% since the trading app was snubbed from the S&P 500.The milestone follows a major strategic swing in Europe, where Robinhood unveiled its most ambitious crypto expansion to date — one aimed at re-engineering the financial infrastructure itself. At an event held in a Belle Époque mansion along the French Riviera, Robinhood executives laid out a vision to bring thousands of tokenized stocks, ETFs,…

(Bloomberg) – Chevron Corp. and TotalEnergies SE are competing in Libya’s first energy exploration tender since the 2011 conflict, the country’s state-run oil firm said, as the OPEC member looks to oil majors to help ramp up production to a record.  Image: TotalEnergies Eni SpA and Exxon Mobil Corp. are also among the 37 companies that have lodged interest, with contracts due to be signed with successful bidders by the end of 2025, National Oil Corp Chairman Massoud Seliman said in an interview in the capital, Tripoli.  “Almost all well-known international companies” are vying for the 22 offshore and…

Sustainable building materials provider Terra CO2 announced that it has raised $124.5 million a Series B financing round, with proceeds to be used by the company to build out its commercial facilities to produce low-cost materials for low-carbon cement. Founded in 2016, Colorado-based Terra provides high performance and environmentally sustainable solutions for the global construction materials market. The company’s OPUS products provide a low carbon alternative for cement replacement in concrete made with abundant, inexpensive, climate-friendly silicate rock feedstock. Terra’s first product, OPUS SCM (Supplementary Cementitious Material) can offset the use of up to 50% of Portland cement, with every…

By Julianne Geiger – Jul 02, 2025, 9:46 AM CDT Crude oil inventories in the United States increased by 3.8 million barrels during the week ending June 27, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 419 million barrels, roughly 9% below the five-year average for this time of year.Crude prices were trading up ahead of the report. The American Petroleum Institute (API) on Tuesday had estimated a 680,000-barrel build for the week ending June 27 after analysts had estimated a much smaller 2.26-million-barrel draw.At 9:19 a.m. in…

The Global Reporting Initiative (GRI) has opened public consultation on two updated labor standards focused on diversity, inclusion, and non-discrimination, with feedback accepted until 15 September. The new drafts aim to align corporate reporting with ILO labor rights principles, calling for more detailed disclosures on direct and indirect discrimination, and executive accountability for inclusion strategies. Final standards are expected to be published from mid-2026 as part of a four-phase overhaul of GRI’s labor-related reporting framework. The Global Reporting Initiative (GRI) has launched a global public comment period on proposed revisions to two of its core labor standards—Diversity and Inclusion and…

Texas Railroad Commissioner Wayne Christian announced the launch of the “Delivering Oil and Gas Efficiently (DOGE) Task Force” in a statement posted on the Railroad Commission of Texas (RRC) website recently. DOGE is described in the statement as “a new internal initiative focused on improving processes, enhancing communication, and strengthening the Railroad Commission of Texas as a responsive, pro-business agency”. The statement noted that the DOGE initiative “is not about cutting personnel – it’s about cutting delays, confusion, and outdated systems”. “The goal is to work alongside agency staff to identify what is working, what needs improving, and where small changes could lead…