A Thai-flagged cargo vessel was struck near the Strait of Hormuz on Wednesday shortly after departing from the United Arab Emirates, the Royal Thai Navy said, as regional tensions continue to disrupt one of the world’s most critical shipping lanes. The ship, Mayuree Naree, a 30,000 deadweight-ton bulk carrier owned by Precious Shipping Pcl , was attacked while transiting the strategic waterway. Pi...
A Thai-flagged cargo vessel was struck near the Strait of Hormuz on Wednesday shortly after departing from the United Arab Emirates, the Royal Thai Navy said, as regional tensions continue to disrupt one of the world’s most critical shipping lanes. The ship, Mayuree Naree, a 30,000 deadweight-ton bulk carrier owned by Precious Shipping Pcl , was attacked while transiting the strategic waterway. Pictures shared by the Thai navy showed the ship billowing thick smoke from the rear section. Oman’s navy has rescued 20 crew members — who abandoned ship and evacuated in a lifeboat — and brought them ashore in Khasab, said Navy spokesman Paraj Ratanajaipan, adding that efforts underway to recover the remaining three. The attack remains under investigation. Earlier Wednesday, the UK Navy said three ships were struck by suspected projectiles in the Strait of Hormuz and the Persian Gulf, though it did not identify the ships. The incident comes amid heightened instability in the region. Traffic through the Strait of Hormuz — a vital chokepoint for global energy exports — has slowed sharply since US and Israeli airstrikes on Iran triggered retaliatory actions targeting shipping and regional infrastructure. Read More: How Iran Conflict Is Disrupting Strait of Hormuz: QuickTake
Stock index futures were lower on Wednesday as traders awaited the consumer inflation report and continued to assess the U.S.-Israel-Iran conflict. Now, here are 5 news stories that broke overnight to watch out for: Trump announces Texas refinery: U.S. President Donald Trump announced that the U.S. will build its first new oil refinery in 50 years in Brownsville, Texas, with investment from India’...
Stock index futures were lower on Wednesday as traders awaited the consumer inflation report and continued to assess the U.S.-Israel-Iran conflict. Now, here are 5 news stories that broke overnight to watch out for: Trump announces Texas refinery: U.S. President Donald Trump announced that the U.S. will build its first new oil refinery in 50 years in Brownsville, Texas, with investment from India’s Reliance Industries. Trump called it a “HISTORIC $300 BILLION DOLLAR DEAL—THE BIGGEST IN U.S. HISTORY” in a post on Truth Social. The project, led by America First Refining, aims to process 168,000 barrels per day of U.S. shale oil, with work potentially beginning as early as Q2 2026. JPMorgan tightens private credit: JPMorgan Chase ( JPM ) has marked down the value of certain loans held by private-credit groups and is tightening its lending to the sector, the Financial Times reported Wednesday. The move limits how much the bank lends to private credit groups against those loans going forward. The devalued loans are to software companies, a sector that has been under scrutiny in recent weeks. Ares expands in Asia: Ares Management ( ARCC ) is planning its first local currency private credit fund in Asia, focused on Thailand, Bloomberg reported. The proposed fund targets performing credit for high-quality Thai corporations and aims to raise capital mainly from local insurance firms earning Thai baht revenues. Lilly weight loss drug costs: Eli Lilly ( LLY ) said that monthly out-of-pocket costs for some Medicare enrollees taking its weight loss and obesity drugs could exceed the $50 cap under a new government-backed payment model. The Centers for Medicare & Medicaid Services announced the coverage model known as BALANCE in December to lower the costs of GLP-1 drugs. Analyst defends software sector: Wedbush Securities analyst Dan Ives pushed back against the ongoing software sector ( IGV ) ( XSW ) selloff, calling it the “most disconnected” technology trade he has seen in 15 ...
By Akriti Shah March 11 (Reuters) - Oracle shares surged about 10% before the bell on Wednesday after the software giant's upbeat revenue forecast calmed worries over faster returns from its hefty spending on artificial intelligence infrastructure. The company has poured billions of dollars toward building data centers for partners like OpenAI and Meta, while trimming staff and using smaller, A...
By Akriti Shah March 11 (Reuters) - Oracle shares surged about 10% before the bell on Wednesday after the software giant's upbeat revenue forecast calmed worries over faster returns from its hefty spending on artificial intelligence infrastructure. The company has poured billions of dollars toward building data centers for partners like OpenAI and Meta, while trimming staff and using smaller, AI-assisted teams and tools to develop software for its traditional customer base and businesses. Oracle raised its revenue forecast for fiscal 2027 to $90 billion, above analysts' estimates of $86.6 billion. Remaining performance obligations (RPO), a key indicator of future contracted revenue, jumped 325% from a year earlier to $553 billion in the third quarter, compared with $523 billion in the prior quarter and beating market estimates. Oracle looks "like one of the more direct ways for investors to tap into the ongoing buildout of AI infrastructure. It's a higher-risk, higher-reward stock, and effectively a leveraged play on the AI theme, which means it's the first in line to take some punishment should the AI story lose steam," said Matt Britzman, senior equity analyst at Hargreaves Lansdown. For its current fiscal fourth quarter, the company projected adjusted profit between $1.96 and $2.00, above analysts' estimates of $1.94. SAAS RISK DEBATE CONTINUES On the conference call, co-founder and executive chairman Larry Ellison said rising investor concern that AI coding tools would weaken demand for business software should not apply to Oracle. The company, he said, is embracing those tools by using small teams of engineers to create new software-as-a-service (SaaS) products. Worries that fast-advancing AI tools could upend software and services had pummeled stocks in the sector last month. The stock is down 23% so far this year. While these (Ellison) are very credible comments, it remains to be seen if Oracle sees an impact on seats and pricing shifts that ...
Hundreds of papers relating to his appointment as ambassador to the US to be put into public domain today Peter Mandelson was spotted leaving his home in London this morning as the government prepares to release documents relating to his appointment as ambassador to the US in 2024. As a reminder, here is what we know about the Mandelson documents set to be released today: The documents relate to P...
Hundreds of papers relating to his appointment as ambassador to the US to be put into public domain today Peter Mandelson was spotted leaving his home in London this morning as the government prepares to release documents relating to his appointment as ambassador to the US in 2024. As a reminder, here is what we know about the Mandelson documents set to be released today: The documents relate to Peter Mandelson’s appointment as ambassador to the US in December 2024, at a time when his links with convicted sex offender Jeffrey Epstein were publicly known. Prime minister Keir Starmer sacked Mandelson from his Washington role last September after a trove of emails revealed the depth of his ties with Epstein. Last month’s release of files relating to the investigation of Epstein by the US justice department showed that Mandelson maintained his relationship with Epstein after Epstein served a sentence for soliciting prostitution from a minor in 2008. Starmer admitted he knew of Mandelson’s friendship with Epstein but said Mandelson had “lied repeatedly” to No 10 about the extent of that relationship. MPs ordered the government to release tens of thousands of documents relating to Mandelson’s appointment in 2024 after questions over how the peer was vetted and what was known about his links to Epstein. The documents being released today are the first batch of tens of thousands of files and will include correspondence between Cabinet Office, Downing Street and Foreign Office officials about Mandelson. Mandelson was arrested last month on suspicion of misconduct in a public office after allegations that he leaked confidential information to Epstein while serving as business secretary in Gordon Brown’s cabinet. He has denied any wrongdoing. Continue reading...
Robotic systems will operate alongside employees at the facility, taking on heavy lifting and repetitive work. Credit: Amazon.com, Inc. or its affiliates. Amazon plans to invest more than A$750m ($537.6m) in a new robotics-enabled fulfilment centre in Brisbane, Queensland, which is expected to handle more than 125 million packages annually. The centre is scheduled for completion in 2028 and will s...
Robotic systems will operate alongside employees at the facility, taking on heavy lifting and repetitive work. Credit: Amazon.com, Inc. or its affiliates. Amazon plans to invest more than A$750m ($537.6m) in a new robotics-enabled fulfilment centre in Brisbane, Queensland, which is expected to handle more than 125 million packages annually. The centre is scheduled for completion in 2028 and will span 150,000m². The facility will be designed to store up to 15 million smaller products available on Amazon.com.au, including everyday pantry goods, beauty items, electronics and toys. Once operational, the centre will have the capacity to process more than 125 million packages each year, including goods from small and medium-sized businesses in Queensland that sell through Amazon to customers across Australia. The development is expected to generate more than 1,000 local jobs when the site becomes fully operational. During the construction and installation phase, the project is also projected to create an additional 2,000 roles. GlobalData Strategic Intelligence US Tariffs are shifting - will you react or anticipate? Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis. By GlobalData Learn more about Strategic Intelligence Robotic systems will operate alongside employees at the facility, taking on heavy lifting and repetitive work. Amazon Australia’s operations director Wayne Angus said: “People are at the heart of our operations, and by combining innovative robotics technology with skilled local talent in this state-of-the-art site, we’re building a workplace where people and technology work hand in hand to deliver for our customers.” One of the systems used in Amazon’s fulfilment network is Hercules, which moves through warehouses collecting shelves of products and transporting them to employees at ergonomic workstations. Each shelf handled by Hercules can weigh up to 500kg, reducing the need for employees to lift heavy ite...
On Thursday 16 April, the Guardian and Tate will be hosting a private, after-hours event to celebrate the groundbreaking work of world-renowned artist Tracey Emin – and as a valued Guardian reader, you’re invited. Tracey Emin: A Second Life is the largest ever exhibition of Emin’s work, and features career-defining sensations alongside works never before exhibited. As part of the Guardian’s ongoin...
On Thursday 16 April, the Guardian and Tate will be hosting a private, after-hours event to celebrate the groundbreaking work of world-renowned artist Tracey Emin – and as a valued Guardian reader, you’re invited. Tracey Emin: A Second Life is the largest ever exhibition of Emin’s work, and features career-defining sensations alongside works never before exhibited. As part of the Guardian’s ongoing partnership with Tate, we are delighted to invite you to an exclusive event, which includes complimentary drinks and nibbles, a talk from one of the exhibition curators and private access to the exhibition. Join us from 7pm at the River Entrance, on the north side of Tate Modern, London SE1 9TG. To sign up for this event, please email rsvp@theguardian.com. Spaces are limited, so you will be entered into a random ballot, and we will let you know in the coming weeks if you have been successful. You will not be able to bring a plus one. And on Friday 24 April, Emin will be in conversation with the Guardian’s chief culture writer, Charlotte Higgins. She will reflect on her life in art, the ideas behind the exhibition and the experiences that continue to shape her work. Buy your tickets to the livestream here.