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(Bloomberg) – Global oil demand growth will slow during the remainder of 2025 after a robust first quarter due to “economic headwinds,” the International Energy Agency said. After increasing 990,000 bpd year-on-year between January and March, the rate of consumption growth will decelerate to a “subdued” 650,000 bpd over the rest of the year, the agency said in its monthly report. It also downgraded the outlook for U.S. shale oil production due to lower crude prices. “The first three months of the year will likely remain comfortably 2025’s strongest quarter,” said the Paris-based IEA, which advises major economies.…
TORONTO — Canada has quietly become a global leader in digital assets.Canada was among the first countries to enact rules for crypto, starting with anti-money laundering guidelines in 2014. The country has repeatedly evolved its regulatory guidance in recent years, while U.S. lawmakers remain stuck in gridlock — even with a pro-crypto White House and a Republican-controlled Congress. That regulatory clarity has made Toronto a launchpad for blockchain growth, and Wall Street is taking notice.Robinhood’s recent acquisition of Canadian crypto firm WonderFi, owner of Bitbuy and Coinsquare, plugs it into Canada’s established user base.”Canada is a very attractive market for…
Oil fell for a second day after President Donald Trump said the US and Iran are getting closer to a deal regarding Tehran’s nuclear program, a move that could unleash more supplies onto a market that is rapidly approaching a glut. Brent fell more than 2% to settle below $65. US crude futures also slid. If all sanctions on Iran are lifted, a flood of crude could hit global markets, analysts estimated. The development adds further gloom to a market that is already swimming in additional supplies after OPEC+ revived output at a faster pace than anticipated and trade talks…
After a seven-year split, FedEx and Amazon are back in business together, signing a multi-year agreement for residential delivery of select large packages. What’s RelatedThe deal, confirmed by both companies, comes weeks after UPS announced plans to reduce its Amazon delivery volume by more than 50% by 2026. As part of that shift, UPS is cutting 20,000 jobs and shutting 73 facilities under a major cost-cutting and restructuring plan. A FedEx spokesperson told Logistics Management the company has “reached a mutually beneficial, multi-year agreement with Amazon to provide residential delivery of select packages, including large items.” The spokesperson added, “FedEx has the…
2025-05-15T18:19:21Z 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. Elon Musk’s X platform has faced backlash after its AI chatbot kept bringing up ‘white genocide.’ Sam Altman joined in and made fun of Grok, extending his long-running feud with X owner Elon Musk. Musk has promoted the ‘white genocide’ conspiracy theory, deemed false by South African authorities. Elon Musk’s social media…
AI can make it easier to game traditional college assessments like essays — so the way students are tested is likely to change, says LinkedIn cofounder Reid Hoffman.As a result, he added, students should expect college exams to become harder to fake their way through and to include an AI examiner.”Wishing for the 1950s past is a bad mistake,” Hoffman said on an episode of his podcast Possible, which he co-hosts. “The fact that universities have not changed, and it’s like, ‘Well, but I already have my curriculum, and this is the way I’ve been teaching it for the last,…
In a significant escalation of the longstanding territorial dispute over the oil-rich Essequibo region made famous by a string of ExxonMobil discoveries, the Guyana Defence Force (GDF) said on Thursday that its troops were attacked by armed individuals in civilian clothing from the Venezuelan side of the Cuyuni River, the Guardian reported. According to the GDF, three separate attacks occurred within a 24-hour period along a stretch of the river. No injuries or casualties were reported, and Guyana has stepped up patrols in the region. The attacks come just days before Venezuela plans to hold elections in the Essequibo region on May…
Texas is in the grip of an extraordinary heatwave this week, with record-breaking temperatures sweeping across the central and southern regions of the state.While 100F days are common in Texas summers, such early-season heat is unusual. The record-high heat means that Texas has been recently hotter than Death Valley, California, which is often cited as the hottest place on Earth.Temperatures across the central and southern region of the state ranged from 100F to 111F, levels that experts warn can pose serious health risks for anyone without access to air conditioning or enough water.The extreme temperatures are expected to continue well…
China Petroleum & Chemical Corporation (Sinopec) has announced a major shale gas exploration breakthrough of its Project Deep Earth – Sichuan and Chongqing Natural Gas Base. The vertical depth of the well reaches over 5,300 m with a 1,312-m-long horizontal section, setting a new record for vertical depth of shale gas wells in China. The breakthrough will boost the gas reserves and production efficiency in the Puguang area as well as contribute to the development of ultra-deep shale gas in the Sichuan Basin, Sinopec stated. The Puguang gas and oil field is the first extra-large deep and high-sulfur gas…
Walmart, the world’s largest retailer, will have to start raising prices later this month due to the high cost of tariffs, executives have warned in a clear signal that United States President Donald Trump’s trade war is filtering through to the US economy. As a bellwether of US consumer health, Walmart’s explicit statement on Thursday is also a signpost for how the trade war is affecting companies as Walmart is noted for its ability to manage costs more aggressively than other companies to keep prices low. Walmart’s shares fell 2.3 percent in morning trading after it also declined to provide…