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Companies & CEOs

Orlen lost $400 million attempting to buy Venezuelan oil for cryptocurrency

Orlen lost $400 million attempting to buy Venezuelan oil for cryptocurrency
The Polish energy company Orlen incurred losses of almost $400 million attempting to acquire Venezuelan oil in defiance of US sanctions. According to the Financial Times, payment was completed with cryptocurrency. In 2023, Orlen completed...

GM organizes US-based battery development to reduce reliance on China

GM organizes US-based battery development to reduce reliance on China
US automotive manufacturer General Motors intends to create next-generation battery cells. The firm believes this decision will decrease US reliance on China while also boosting the amount of materials obtained locally. Kurt Kelty, GM’s vice...

Revolut confirms data breach caused by fraudulent requests posing as a government agency

Revolut confirms data breach caused by fraudulent requests posing as a government agency
Revolut has acknowledged a data breach that impacts certain customers as a result of deceptive requests from a government entity, according to Reuters referencing a company representative. The British fintech firm revealed private customer...

TotalEnergies discovers new oil in Angola

TotalEnergies discovers new oil in Angola
TotalEnergies of France announced in June the discovery of a new oil reserve in Angola's Block 17. Production is set to start utilizing spare capacity on the Pazflor floating production, storage, and offloading (FPSO) unit only three months...
Markets & Industries

10-Year US Treasury yields hit highest level since 2007

10-Year US Treasury yields hit highest level since 2007
The return on US 10-year Treasury bonds has hit a peak not observed in almost 20 years, according to CNBC. On Tuesday, September 15, the yield increased by 5 basis points to reach 5.041%—the peak level since July 2007. During the trading session,...

WSJ: US oil companies announce onset of global fuel crisis

WSJ: US oil companies announce onset of global fuel crisis
The worldwide fuel crisis predicted by the biggest oil companies has already occurred. Officials from US companies Chevron and ExxonMobil indicate that an extended blockade of the Strait of Hormuz and an assault on the East-West Pipeline in Saudi...

BofA strategists warn of volatility risk amid US market capital outflows

BofA strategists warn of volatility risk amid US market capital outflows
According to Bloomberg, a Bank of America report referencing EPFR Global data indicates that investors have withdrawn $14.2 billion from US equity funds in the last three weeks, marking the biggest outflow since January. The bank's strategists...

IEA forecasts sharpest drop in oil demand since COVID-19 pandemic

IEA forecasts sharpest drop in oil demand since COVID-19 pandemic
The International Energy Agency (IEA) predicts the steepest drop in oil demand since the COVID-19 pandemic, spurred by the intensifying conflict in the Middle East, according to the Financial Times. In a recent report, the agency indicated it does...
In-depth coverage

European Tech Sovereignty: Europe Enters the Era of Exascale with the Inauguration of the Jupiter Supercomputer

Europe has taken a giant leap in technological development and supercomputing sovereignty with the launch of its first exascale computer in Germany. JUPITER, built using American chips but set to develop further with the integration of European microprocessors in 2026, is capable of performing over one quintillion (10¹⁸) operations per second, immediately cementing its place as Europe’s mos...
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World & Politics

Von der Leyen proposes creating European Security Council

Von der Leyen proposes creating European Security Council
European Commission President Ursula von der Leyen has revealed intentions to suggest the establishment of a European Security Council, according to Politico. She remarked that the problem has become more pressing "in light of the nature and extent...

WHO considers it premature to say the Ebola epidemic peak passed in DR Congo

WHO considers it premature to say the Ebola epidemic peak passed in DR Congo
The World Health Organization asserts that the highest point of the Ebola outbreak in the Democratic Republic of the Congo (DRC) has still to be attained. Olivier Le Polain, head of the WHO's epidemiology unit, informed reporters that previous...

Trump to demand compensation from other countries for inaction in the Strait of Hormuz

Trump to demand compensation from other countries for inaction in the Strait of Hormuz
U.S. President Donald Trump believes that nations that did not help Washington during the Iran crisis and the shipping issues in the Strait of Hormuz should compensate the United States. "Petroleum moves through the Strait of Hormuz. Nations...

EU may cut staff and salaries for officials in 2028–2034 budget

EU may cut staff and salaries for officials in 2028–2034 budget
Discussions are ongoing within the European Union concerning the long-term budget for the 2028–2034 financial period, with emphasis on potential salary cuts for officials and workforce reductions at European institutions, reports Politico. A report...
Management & Strategy

Volkswagen's board of directors approves 50,000 job cuts

Volkswagen's board of directors approves 50,000 job cuts
The Volkswagen Board of Directors has sanctioned a restructuring initiative that involves eliminating as many as 50,000 positions and halting vehicle manufacturing at four facilities in Germany, according to the Associated Press. The company stated...

Ackman to donate 10 million Pershing Square shares to Brain Institute

Ackman to donate 10 million Pershing Square shares to Brain Institute
Billionaire Bill Ackman and his spouse, Neri Oxman, plan to give 10 million shares of the hedge fund Pershing Square to support the brain research center he established in New York, according to Bloomberg, referencing a social media update from...

The Porsche family demands swift restructuring of Volkswagen

The Porsche family demands swift restructuring of Volkswagen
Porsche Automobil Holding (Porsche SE), the holding company overseen by the Porsche family and owning 53% of the voting shares in the Volkswagen Group (VW), has insisted that the automaker implement a prompt restructuring. Porsche SE CEO Hans Dieter...

Intel plans job cuts in data center division

Intel plans job cuts in data center division
Intel Corp., a top manufacturer of computer components globally, is reportedly planning another wave of layoffs, according to CNBC, referencing a company representative. Intel has reduced around 5,000 jobs in the U.S., mainly in California and...