Oil Conundrum: Record Inventory Draws And Stable Crude Prices Something strange is taking place in oil. Crude prices have been remarkably stable over the last week, with Brent mostly trading in the high 90s on mixed prospects for the resolution of the over 7-week conflict in the Persian Gulf, despite signs to the contrary: the second round of talks between the US and Iran has been postponed indefi...
Oil Conundrum: Record Inventory Draws And Stable Crude Prices Something strange is taking place in oil. Crude prices have been remarkably stable over the last week, with Brent mostly trading in the high 90s on mixed prospects for the resolution of the over 7-week conflict in the Persian Gulf, despite signs to the contrary: the second round of talks between the US and Iran has been postponed indefinitely following Iran’s decision not to participate; President Trump extended a ceasefire “until such time as their proposal is submitted, and discussions are concluded, one way or the other” and the US maintains its blockade of ships departing from or heading to Iranian ports. So while the market is rejoicing and trading at daily record highs that all is well, the oil picture remains just as bad as it was when the war started almost two months ago. According to Goldman, the combination of 1) a lower risk premium, 2) destocking in anticipation of expected Hormuz reopening, and 3) a moderation in spot buying, helps explain why futures crude prices, physical crude prices, and refined products prices have all moderated since the ceasefire despite still low Hormuz flows and extreme draws in global visible stocks. And yet, global visible oil inventories are likely to reach record-low levels even in an optimistic scenario where Hormuz flows start to recover by the end of April. Global visible oil inventories have been drawing at an average pace of 6.3mb/d in April so far, while Goldman's estimates of total global oil draws (including “invisible” refined products storage in non-OECD) show 10.9mb/d draws in April so far, the steepest monthly draws on record since 2017. This puts total estimated oil draws since the start of the war at 474mb . As estimated oil flows through the Strait of Hormuz remain at 10% of normal or 2.0mb/d (4-day moving average) and as any recovery in flows will likely be gradual even following a complete reopening (given logistical constraints such as reversin...
(RTTNews) - SK hynix (000660.KS) reported first quarter net income attributable to shareholders of parent company of 40.33 trillion Korean won compared to 8.11 trillion won, prior year. Operating income increased to 37.61 trillion won from 7.44 trillion won, last year.
(RTTNews) - SK hynix (000660.KS) reported first quarter net income attributable to shareholders of parent company of 40.33 trillion Korean won compared to 8.11 trillion won, prior year. Operating income increased to 37.61 trillion won from 7.44 trillion won, last year.
Singapore Airlines Ltd. is deepening its operational involvement in Air India Ltd. , as the carrier battles record losses and recent safety lapses draw increasing concern, according to people familiar with the matter. SIA has moved some of its employees into Air India, placing its executives in key roles across flight operations, engineering and maintenance in recent months — areas where the Singa...
Singapore Airlines Ltd. is deepening its operational involvement in Air India Ltd. , as the carrier battles record losses and recent safety lapses draw increasing concern, according to people familiar with the matter. SIA has moved some of its employees into Air India, placing its executives in key roles across flight operations, engineering and maintenance in recent months — areas where the Singaporean carrier has long been considered a global benchmark, said the people, who asked not to be identified as they aren’t allowed to speak to the media. While relying on its minority shareholder for operational support, Tata Group , which owns 74.9% of Air India, is focusing on commercial, human resources, finance and information technology functions, the people said. The shift, the people said, marks a notable escalation in SIA’s engagement since the deadly Dreamliner crash , moving it from a strategic partner to a far more hands-on presence inside India’s flag carrier. Singapore Airlines stepped up its involvement last year with engineering and has since then expanded across other functions at Air India. “We have been working closely with our partner Tata Sons to support Air India’s transformation programme” since the Singaporean carrier became a significant minority partner in the carrier, a spokesperson for Singapore Airlines said in an emailed statement. The representative declined to comment on specific queries on Air India’s finances and operations. Spokespersons for Tata Sons Pvt. — the group’s holding firm — and Air India did not comment on emailed queries. Read More: Air India Seeks Funds From Tata, Singapore Air After Record Loss The deeper role comes at a time when Air India’s revival — one of the most ambitious turnaround efforts in global aviation — is proving far more complex and costly than the Tata Group expected when it won the bid to acquire the airline from the Indian government in 2021. With losses swelling to roughly $2.4 billion last year, repeated r...
UBS likes what it sees at Alphabet. It's just not ready to say "buy." The Swiss bank raised its price target on Alphabet (GOOGL) to $375 from $348 this week, a meaningful revision driven by key factors. Key factors include the accelerating Google Cloud growth, easing fears about ChatGPT ...
UBS likes what it sees at Alphabet. It's just not ready to say "buy." The Swiss bank raised its price target on Alphabet (GOOGL) to $375 from $348 this week, a meaningful revision driven by key factors. Key factors include the accelerating Google Cloud growth, easing fears about ChatGPT ...
Altimmune ( ALT ) priced an oversubscribed public offering of common stock, pre-funded warrants and accompanying common stock warrants to raise approximately $225 million in gross proceeds, according to a statement late on Wednesday. Offering includes 64.25M shares of common stock and pre-funded warrants to purchase an aggregate of up to 10.75M shares of common stock. Each security comes with acco...
Altimmune ( ALT ) priced an oversubscribed public offering of common stock, pre-funded warrants and accompanying common stock warrants to raise approximately $225 million in gross proceeds, according to a statement late on Wednesday. Offering includes 64.25M shares of common stock and pre-funded warrants to purchase an aggregate of up to 10.75M shares of common stock. Each security comes with accompanying common stock warrants at exercise price of $3.00 per share. Leerink Partners and Barclays are acting as joint bookrunning managers. More on Altimmune Altimmune: Why I'm Downgrading To Hold Despite MASH Promise Altimmune: Considering If A Repeat Of The 2025 Run-Up Is On Tap Altimmune: The High Cost Of Going Solo (Rating Downgrade) Altimmune launches proposed public offering to fund late-stage trial Altimmune a new buy at Truist on pemvidutide promise
IceKredit IceKredit’s CGO Kong Chinang Joins GrabX & AI Forward Summit in Jakarta IceKredit IceKredit’s CGO Kong Chinang Joins GrabX & AI Forward Summit in Jakarta JAKARTA, Indonesia, April 23, 2026 (GLOBE NEWSWIRE) -- At the inaugural AI Forward: Southeast Asia Policy Summit hosted by Grab and ASEAN BAC in Jakarta, Mr. Kong Chinang, Chief Growth Officer of IceKredit, shared insights on Southeast ...
IceKredit IceKredit’s CGO Kong Chinang Joins GrabX & AI Forward Summit in Jakarta IceKredit IceKredit’s CGO Kong Chinang Joins GrabX & AI Forward Summit in Jakarta JAKARTA, Indonesia, April 23, 2026 (GLOBE NEWSWIRE) -- At the inaugural AI Forward: Southeast Asia Policy Summit hosted by Grab and ASEAN BAC in Jakarta, Mr. Kong Chinang, Chief Growth Officer of IceKredit, shared insights on Southeast Asia’s AI revolution and called for stronger regional alignment across policy, industry, and educati
Boston Consulting Group said its artificial intelligence services work generated 25% of its revenue in 2025 as the firm hires more engineers and other specialists to help advise clients on how to fold such technology into their businesses. BCG’s revenue grew nearly 7% to $14.4 billion in 2025 from $13.5 billion in 2024, according to a statement on Thursday. That marked slower growth than 2024 when...
Boston Consulting Group said its artificial intelligence services work generated 25% of its revenue in 2025 as the firm hires more engineers and other specialists to help advise clients on how to fold such technology into their businesses. BCG’s revenue grew nearly 7% to $14.4 billion in 2025 from $13.5 billion in 2024, according to a statement on Thursday. That marked slower growth than 2024 when the firm posted a 10% uptick in revenue. “AI has turned out to be highly value accretive and not dilutive for BCG,” BCG Chief Executive Officer Christoph Schweizer said in an interview. “AI has now really become central to the most differentiated and highest value-added functions in every company.” The firm said its headcount grew to 33,500 last year, up roughly 2% from 33,000 in 2024. It’s hiring more AI engineers, IT architects and data scientists, as well as investing in its consulting teams. Consulting firms are seeking to capitalize on companies’ demand for advice on adopting the new technology. BCG has partnerships with AI developers including Alphabet Inc.’s Google, Anthropic and OpenAI to help potential clients overhaul their businesses with the help of AI. BCG also said it has worked with clients including International Business Machines Corp., Reckitt Benckiser Group Plc and Hon Hai Precision Industry Co., also known as Foxconn, on implementing AI programs. Schweizer said that the firm is expecting to grow this year, with AI work helping drive that expansion. BCG was at the center of a scandal last year after it emerged that two of its partners had advised on the controversial Israeli-backed Gaza Humanitarian Foundation. One of the partners also worked on plans for the postwar reconstruction of Gaza. The firm fired the two partners who it said failed to disclose the full scope of their work. BCG subsequently overhauled its processes and appointed a new chief risk officer.
Government advisers call for review of rules that cause loss of household income when a child takes up job training Young people from disadvantaged backgrounds are abandoning valuable job training opportunities because of a little-known welfare “apprenticeship penalty” that can leave their families out of pocket by as much as £340 a week. The problem is caused by benefit rules that classify a 16-y...
Government advisers call for review of rules that cause loss of household income when a child takes up job training Young people from disadvantaged backgrounds are abandoning valuable job training opportunities because of a little-known welfare “apprenticeship penalty” that can leave their families out of pocket by as much as £340 a week. The problem is caused by benefit rules that classify a 16-year-old apprentice as an “independent worker” who no longer requires parental support. As a result, the parents’ child benefit and child and disability elements of universal credit are withdrawn. Continue reading...
There are now 3,110 billionaires but analysis shows ‘deep structural acceleration’ in wealth creation around world The number of billionaires in the world could reach nearly 4,000 by 2031, figures suggest, as the super-rich accumulate wealth at an accelerating rate. There are now 3,110 billionaires globally, according to analysis by the estate agent Knight Frank. This is forecast to rise by 25% ov...
There are now 3,110 billionaires but analysis shows ‘deep structural acceleration’ in wealth creation around world The number of billionaires in the world could reach nearly 4,000 by 2031, figures suggest, as the super-rich accumulate wealth at an accelerating rate. There are now 3,110 billionaires globally, according to analysis by the estate agent Knight Frank. This is forecast to rise by 25% over the next five years, taking the total to 3,915. Continue reading...
Commons committee heard from residents of Yorkshire town with the highest levels of ‘forever chemicals’ in UK On 15 January, members of the House of Commons environmental audit committee (EAC) visited Bentham, the North Yorkshire town that has the highest levels of Pfas contamination in the UK . Colloquially known as “forever chemicals”, Pfas (perfluoroalkyl and polyfluoroalkyl substances) do not ...
Commons committee heard from residents of Yorkshire town with the highest levels of ‘forever chemicals’ in UK On 15 January, members of the House of Commons environmental audit committee (EAC) visited Bentham, the North Yorkshire town that has the highest levels of Pfas contamination in the UK . Colloquially known as “forever chemicals”, Pfas (perfluoroalkyl and polyfluoroalkyl substances) do not naturally degrade or decompose. This persistence gives them special properties with useful applications in both industrial and consumer products. Continue reading...
Damning testimony from the crew of one tuna-fishing vessel has lifted the lid on the treatment of workers in the fleets supplying fish to the UK and EU Abdul was the first to fall sick, in February 2025, four months into his first ever stint on a longline tuna fishing vessel in the Indian Ocean. Told he was “weak” and “overreacting” by other crew members, he forced himself to keep working, even wh...
Damning testimony from the crew of one tuna-fishing vessel has lifted the lid on the treatment of workers in the fleets supplying fish to the UK and EU Abdul was the first to fall sick, in February 2025, four months into his first ever stint on a longline tuna fishing vessel in the Indian Ocean. Told he was “weak” and “overreacting” by other crew members, he forced himself to keep working, even when he could barely stand, his legs swollen and bruised. In the months that followed, other crew members of the Tia Xiang 5, a Chinese vessel belonging to Shandong Zhonglu Oceanic Fisheries , a large state-owned fishing company, allegedly began to suffer similar symptoms: swollen, painful limbs and debilitating weakness, with some becoming very short of breath. They were offered no proper medical care, claims Abdul, 36, nor rest from the gruelling 16-hour days, for which they earned 4.6m Indonesian rupiah (about £198) a month. Continue reading...
We’re being sold a world where there’s no room for reflection or spontaneity. This is the Black Mirror stage of capitalism How fast do you have to strike a match to get it to light? Not the chemistry of the ignition, but the actual speed, in metres per second, that the little piece of wood and its bulbous head have to move to spark the chain reaction behind the flame. It was a question born of ins...
We’re being sold a world where there’s no room for reflection or spontaneity. This is the Black Mirror stage of capitalism How fast do you have to strike a match to get it to light? Not the chemistry of the ignition, but the actual speed, in metres per second, that the little piece of wood and its bulbous head have to move to spark the chain reaction behind the flame. It was a question born of insomnia. And there, in the dark, I did the thing you’re not supposed to do, if your goal is to fall back asleep: I opened my phone. Before I knew it, 3am had become 5am. I learned about the composition of the friction strip (red phosphorus, pulverized glass), and of the match head (potassium chlorate, antimony trisulphide, wax), and that a safety match struck against anything else will not light. I found slow-motion videos of a match strike captured at 3,500 frames per second. But nothing about the speed. Alexander Hurst writes for Guardian Europe from Paris. His memoir Generation Desperation is out now Continue reading...
Lawrence Bishnoi has been in high-security custody for more than a decade. During that time, he has been linked to multiple high-profile killings, both in India and as far afield as Canada. What explains his seemingly undimmed power? The border that separates India from Pakistan is lined with 50,000 towering poles that hold 150,000 floodlights, which at night create a glare that is visible from ou...
Lawrence Bishnoi has been in high-security custody for more than a decade. During that time, he has been linked to multiple high-profile killings, both in India and as far afield as Canada. What explains his seemingly undimmed power? The border that separates India from Pakistan is lined with 50,000 towering poles that hold 150,000 floodlights, which at night create a glare that is visible from outer space. Passing through the towns on the Indian side of the border, it can be difficult to tell, even in daylight, where one ends and the other begins. Curving along the rolling fields of wheat are nameless dirt roads where men sit on rope benches, whiling away their afternoons, staring as you pass by. Dutarawali, right by the highway, is slightly different: here, the houses are big, with spacious courtyards. One of the houses – three storeys, painted white with red accents – has a 7ft boundary wall topped with barbed wire and four CCTV cameras overlooking the unpaved street. The symbol of Om is curled on its brown iron door, which has no nameplate. It is the house of Lawrence Bishnoi, who is today, at the age of 33, India’s most notorious gangster. Continue reading...
Government aims to move TV and radio funding under state control, which critics say undermines independence Journalists at the Czech Republic’s public broadcasters have said they are prepared to go on strike unless the government of the billionaire prime minister, Andrej Babiš, backs down on its plan to scrap licence fees and move funding under state control. In what the journalists see as a thre...
Government aims to move TV and radio funding under state control, which critics say undermines independence Journalists at the Czech Republic’s public broadcasters have said they are prepared to go on strike unless the government of the billionaire prime minister, Andrej Babiš, backs down on its plan to scrap licence fees and move funding under state control. In what the journalists see as a threat to their independence, the government wants to replace the current system, in which households pay fees directly to public service media, with direct funding from the state budget. “Licence fees are cancelled,” the culture minister, Oto Klempíř, declared last week. Continue reading...
In her new book, New York Times investigative journalist Jodi Kantor has set her mind to helping young people find their life’s work. What should they, or anyone else who feels lost and overwhelmed right now, do to get started? Early last year, the investigative journalist Jodi Kantor was asked to give the commencement address to students at Columbia University in New York. The place was in chaos ...
In her new book, New York Times investigative journalist Jodi Kantor has set her mind to helping young people find their life’s work. What should they, or anyone else who feels lost and overwhelmed right now, do to get started? Early last year, the investigative journalist Jodi Kantor was asked to give the commencement address to students at Columbia University in New York. The place was in chaos – amid continuing pro-Palestinian protests students were expelled, or arrested and detained by immigration officials, while President Trump had ordered a $400m withdrawal of federal funding (which was later reinstated as part of a settlement with the administration). Kantor was “horrified” to see what had happened at Columbia – her alma mater, where she was sacked from her first journalism job at the student paper– “a place and campus I loved, a place that stands for discussion and ideas and progress. I said: ‘I’ll do it if I can speak to the students first.’” She spoke to several. They didn’t want to talk about Israel or Gaza, or Trump, or what was happening at the university and its implications for free speech. “They said: ‘Our class, despite all of its political differences, is united in anxiety over one question. When everything feels so broken, how do we start? How do we find our life’s work in this environment?’” Continue reading...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: War continues in Iran; stock market continues to rally. Tesla’s results have been received with an after-hours shrug. Elon Musk’s other trillion-dollar company, SpaceX , will make an IPO index splash. Volatility is very low — but not as low as in the Cuban Missile Crisis . AND: Some final songs about t...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: War continues in Iran; stock market continues to rally. Tesla’s results have been received with an after-hours shrug. Elon Musk’s other trillion-dollar company, SpaceX , will make an IPO index splash. Volatility is very low — but not as low as in the Cuban Missile Crisis . AND: Some final songs about tax. Bulls, Bears, Indexes and Unicorns Brace for a thundering herd of unicorns. Since the term (for private companies worth more than a billion dollars) was coined in 2013, unicorns have gone forth and multiplied. A trawl of databases by BestBrokers finds that there are now 1,727 globally, with their numbers swelling by 70 in the first quarter of this year. The list includes the most powerful and controversial names of the moment: Historically, it’s unusual for companies to get this big before floating. Funds from venture capital and private equity have changed the calculus. Founders needn’t cash in so quickly, and can enjoy the extra freedom that their private funders will permit. If private market valuations are right, the biggest unicorns have far outperformed public markets since the pandemic. That extra return will forever belong to those currently backing them, not investors in index funds: But this won’t carry on much longer. Several unicorns, led by SpaceX and OpenAI, are planning initial public offerings this year. That’s not necessarily good news. As ever when insiders at a company decide to sell, IPOs can signal trouble ahead. Two of this century’s biggest IPOs marked the top for entire markets and asset classes. In 2011 Glencore, the trading and mining empire that had been built up by Marc Rich, went public in the midst of a historic bull market in metals. Subsequent performance suggested they knew a thing or two about metals markets: Blackstone Inc., the biggest private equity group, marked an even clearer top. Its IPO took place in June 2007 , just as credit m...
Frank Hennemann sometimes coughs 400 times a day. His airways are damaged by a lung condition called bronchiectasis , which he describes as feeling like two trucks are parking on his chest. After decades of research, there’s finally a medicine to alleviate his symptoms, but Hennemann lives in Germany. One reason he can’t get it there is Donald Trump . The company behind the new treatment, Insmed I...
Frank Hennemann sometimes coughs 400 times a day. His airways are damaged by a lung condition called bronchiectasis , which he describes as feeling like two trucks are parking on his chest. After decades of research, there’s finally a medicine to alleviate his symptoms, but Hennemann lives in Germany. One reason he can’t get it there is Donald Trump . The company behind the new treatment, Insmed Inc. , won’t launch in Europe until it can better understand the financial implications of a Trump directive that could upend the math drugmakers rely on to recoup their research investments. For years, pharma companies have generated most of their profits in the US, where they can charge far more than in Europe. But Trump's policy calls for them to price their new medicines in the US at the level of other wealthy countries. That's left companies ranging from Biogen Inc. to Roche Holding AG with a vexing choice: either convince Europe to pay more, or slash their US prices. Some are considering a third, more drastic option: skip parts of Europe altogether. “This is a political issue,” Hennemann said in an interview, regretting that “decision-makers count numbers, not emotions or patient stories.” Introducing a treatment in Europe could end up halving the product’s US price under the policy dubbed “most favored nation,” according to Darius Lakdawalla , chief scientific officer at the USC Schaeffer Institute . “Would a drug company be willing to walk away from that market in favor of preserving over 30% of their US profits?” Lakdawalla said. “My guess is they almost certainly would.” These calculations could soon deprive European patients of crucial innovation. A breast-cancer pill from Roche may not get launched in the drugmaker’s home country of Switzerland. Another major European pharma firm described a significant shift and said every launch is being reconsidered, according to people familiar with the company who declined to be identified by name. And Biogen’s new medicine ...