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The U.S. State Department rolled out another round of sanctions Tuesday targeting an Iranian oil smuggling network allegedly responsible for funneling billions in crude oil sales to China on behalf of Iran’s Armed Forces General Staff. The scheme, operated through front company Sepehr Energy Jahan Nama Pars, is accused of bankrolling Iran’s ballistic missile development, nuclear ambitions, and its web of proxy militias—from Red Sea Houthi attacks to assaults on the U.S. Navy and Israel.“As long as Iran devotes its illicit revenues to funding attacks on the United States and our allies, supporting terrorism around the world, and pursuing other…
DHL Group is ramping up its use of warehouse robots, signing a new agreement with Boston Dynamics to roll out more than 1,000 of its Stretch robots around the world. What’s RelatedThe move builds on a partnership that started in 2018 and has already shown strong results, especially in DHL’s contract logistics division. Stretch, which was first used to unload boxes from containers, has now reached speeds of up to 700 cases per hour in some locations. The robots are already working in North America, the UK, and parts of Europe. Looking ahead, DHL plans to use the robot for…
The United States and Saudi Arabia signed an economic partnership agreement and a number of energy deals between Saudi oil giant Aramco and American companies during the visit of U.S. President Donald Trump to the Kingdom on Tuesday.President Trump signed the economic cooperation agreement with Saudi Crown Prince Mohammed bin Salman, and co-chaired the Saudi–U.S. Investment Forum 2025 in Riyadh.During the forum, Amin Nasser, the chief executive of Aramco, said that the Saudi state giant is signing today a $3.4-billion agreement to expand the Motiva refinery in Texas to integrate chemicals production.Motiva Enterprises, controlled by Saudi Aramco, operates the huge…
House Republicans are proposing to eliminate a tax credit for electric vehicles and phase out incentives to develop clean-energy projects to help pay for President Donald Trump’s massive tax package. The incentives put in place by former President Joe Biden’s signature climate law have been ripe targets for lawmakers looking for trillions of dollars to help pay for extending Trump’s tax cuts. The president himself has had a bullseye on them, deriding them as part of the “green new scam.” But the draft legislation released Monday by House tax writers may not be as bad for producers of clean electricity…
Anthony Padilla and Ian Hecox might be the faces of the YouTube comedy collective, Smosh, but behind the cameras, someone else helps run their 64-person team.Padilla and Hecox named Alessandra Catanese, Padilla’s longtime manager, CEO in 2023. This allowed the pair to focus on the creative side of their YouTube channels.Catanese handles the company’s day-to-day operations and overall business strategy. “I certainly don’t believe that every creator needs a CEO, but I do believe not every creator is a CEO,” Catanese told Business Insider.Smosh isn’t the only creator-led operation to put an outside executive in a top role in the past…
2025-05-13T15:10:06Z 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 plans to cut about 6,000 jobs, less than 3% of its global workforce. The cuts aim to reduce middle managers and increase coders versus noncoders, as BI earlier reported. Tech industry trends show a shift toward fewer managers, as seen with Amazon and Google. Microsoft plans to cut less than 3%…
In an oil and gas report sent to Rigzone late Monday by the Macquarie team, Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up by 7.6 million barrels for the week ending May 9. “This follows a 2.0 million barrel draw in the prior week, with the crude balance again realizing tight relative to our expectations,” the Macquarie strategists noted in the report. “For this week’s crude balance, from refineries, we model crude runs higher (+0.3 million barrels per day). Among net imports, we model a very large increase, with exports down (-0.9 million barrels…
FILE PHOTO: Coal moves on an overland belt from inside the newly opened Ramaco Resources Inc. Stonecoal Alma mine near Wylo, West Virginia, U.S., on Tuesday, Aug. 8, 2017.Andrew Harrer | Bloomberg | Getty ImagesA small coal miner headquartered in Kentucky could play an important role in helping the U.S. break its dependence on China for rare earth elements that are crucial for national defense.Ramaco Resources unexpectedly discovered in 2023 that a Wyoming coal mine it purchased for $2 million is sitting on top of a major trove of rare earth elements. The Brook Mine outside Sheridan is estimated to…
Basel Committee to Publish Climate Risk Disclosure Framework: A voluntary framework will guide jurisdictions on climate-related financial risk disclosures. Extreme Weather Events Now a Priority: Global banking regulators will intensify analysis on the financial implications of climate-driven disasters. U.S. Pullback Highlights Global Divide: U.S. regulators scale back climate efforts, while Europe pushes climate risk integration into financial supervision. Global banking regulators have agreed to intensify efforts to assess the financial risks posed by climate change—particularly from extreme weather events—despite mounting resistance from the United States. Meeting on May 12, 2025, the Group of Central Bank Governors and Heads of Supervision…
Oversubscribed Fund: Aligned Solar Partners 6 LP closed with over $240M in commitments—exceeding its $200M target. Doubling Output: The fund targets over 150 MW across seven U.S. states, doubling Aligned’s distributed solar capacity. Strong Institutional Backing: Capital raised from global insurance firms, endowments, foundations, and family offices. Aligned Climate Capital has closed its sixth distributed solar fund, Aligned Solar Partners 6 LP (ASP6), with commitments exceeding $240 million—surpassing its $200 million target. The oversubscribed fund marks the firm’s largest investment vehicle to date, backed by major institutional investors, including global insurance companies, endowments, foundations, and family offices. “The U.S. needs…