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Morocco’s GMT+1: Minister Acknowledges Limited Energy Savings in Winter
Rabat – A statement by Energy Minister Leila Benali has added another layer to the argument backing a campaign in support of abolishing GMT+1 or daylight saving time in Morocco. Speaking earlier this week at the House of Representatives, Benali said that Morocco’s use of GMT+1 during winter does not significantly reduce energy consumption. “We have not recorded a tangible reduction in overall demand,” she argued, announcing that the Ministry of Energy has decided to launch a new study to u...
The Iran war created a global natural gas shortage — a windfall for U.S. companies
Climate The Iran war created a global natural gas shortage — a windfall for U.S. companies April 14, 20261:50 PM ET Julia Simon There's a global shortage of natural gas because of the war. That has consequences for the U.S., the world's largest exporter of liquefied natural gas or LNG. Brandon Bell/Getty Images North America hide caption toggle caption Brandon Bell/Getty Images North America HOUSTON – Troubles in the Strait of Hormuz continue, with the U.S. now imposing a naval blockade on Irani...
Varun Dhawan claps back at influencer alleging fake reviews for Hai Jawani teaser
Varun Dhawan claps back at influencer alleging fake reviews for Hai Jawani teaser
Brazil demands rare earths be processed at home as US and China compete
Brazil will require foreign partners to process rare earth minerals domestically as a condition for access to its reserves, a senior government official said this week, setting terms that could reshape how Chinese and Western firms compete for resources the country has long exported raw. “Our doors of Brazil to foreign investment are open, but our position has matured,” Leonardo Durans, a senior official at Brazil’s industry ministry, said at a press conference with international media on...
Reeves arrives at IMF with little leeway to prove its UK downgrade wrong
Chancellor faced with fund’s forecast that impact of Iran war will leave Britain as G7’s biggest loserIran war escalation could trigger global recession, IMF warnsThe Iran war is bad news for the global economy. But for some countries, the unfolding conflict is having a bigger impact than for others. The International Monetary Fund’s verdict is that Britain is the G7’s biggest loser.Amid the rising damage from the Middle East war, the Washington-based fund warned UK economic growth rate would be...
Disney to cut 1,000 jobs: CEO moves to streamline operations; marketing units unified
Disney CEO Josh D’Amaro has announced that the company is undergoing a change, working to reshape its massive media empire. In a memo to employees, the CEO said that the company is cutting approximately 1,000 roles this week to “streamline” its operations. According to the memo, the majority of the job losses are a direct result of Disney forming a single, consolidated “enterprise marketing division.” This new group is being led by Asad Ayaz, the company's Chief Marketing and Brand Officer.
Disney to eliminate 1,000 positions
The cuts will fall on the marketing group, which was reorganized in January, and other parts of the company, including its studio and television business, at ESPN, products and technology and certain corporate functions.
Global Oil Demand to Decline in 2026 as Middle East Supply Shock Reshapes Market
Rabat – Global oil demand will decline in 2026 for the first time since 2020, as shortages and higher prices linked to war in the Middle East reshape energy markets, the International Energy Agency (IEA) said. The agency described the situation as the most severe oil supply shock on record. The last annual drop in demand took place in 2020, when pandemic lockdowns and border closures cut global use by 8.97 million barrels per day. Since then, demand returned to steady growth. Six years lat...
IMF warns about risk of global recession as Iran war impacts energy costs
The International Monetary Fund is warning about the risks of a global recession in its World Economic Outlook report as the U.S.-Israeli war with Iran impacts oil prices. CBS News business contributor Javier David has more.
Fed’s Goolsbee Sees Iran War Possibly Delaying Rate Cuts
Federal Reserve Bank of Chicago President Austan Goolsbee said interest-rate cuts may be pushed back by the surge in energy prices due to the Iran War. “The longer this inflation disruption goes, the more likely it is, in my view, that the appropriate rate cutting would be put off,” Goolsbee said Tuesday at the Semafor World Economy Summit. (Source: Bloomberg)
Libya could supply the oil the world needs while conflict with Iran seethes
Energy markets are driven as much by expectations as by actual output. The credible prospect of increased Libyan production could restore confidence, reduce volatility, and place downward pressure on global energy prices.
Fed Chair nominee Warsh is worth well over $100 million, documents show
MoneyWatch Fed Chair nominee Kevin Warsh is worth well over $100 million, new financial disclosure forms show .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Co...
Stocks rise, oil falls, on fresh Middle East hope
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Chevron executive says Venezuelan crude oil is helping lower prices amid Iran war
Andy Walz, Chevron's president of downstream, midstream and chemicals, told CBS News' Lilia Luciano that the energy giant is bringing in Venezuelan crude oil to help lower costs driven up by the Iran war.
Farmers protest rising costs with traffic disruption
Farmers say they are being hit on several fronts, with the price of fuel and fertiliser all facing a hike.
Low Prices, Procurement Delays Leave Madhya Pradesh Farmers With Empty Pockets
While it began on April 9 in select divisions like Indore, Ujjain, Bhopal, and Narmadapuram, it is scheduled to start only on April 15 in other regions -- a delay of nearly 25 days compared to last year. This gap has proved costly for farmers who rely on timely sales to repay crop loans.
‘Aberdeen should be booming’ says Trump, as he pushes for more North Sea oil
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Chiriseri on Inflation Expectations, Central Banks
RBC Wealth Management Head of Fixed Income for UK and Europe Rufaro Chiriseri gives her outlook for inflation expectations, what to expect from the ECB and BOE in an interview with Joumanna Bercetche. (Source: Bloomberg)
Gower Bullish on Middle East War Impact on Metals
Amy Gower, lead metals and mining strategist at Morgan Stanely, says the long-term effects of Middle East current events are more bullish for metals if they bring more stockpiling the long-term. She speaks on "Bloomberg Surveillance." (Source: Bloomberg)
United CEO pitches merger to Trump that would create world’s largest airline: Report
United Airlines CEO Scott Kirby pitched a merger between his company and American Airlines during a Feb. 25 meeting with President Trump, Reuters reported on Monday. Kirby proposed the consolidation toward the end of a White House meeting on the future of Washington Dulles International Airport, the outlet noted. Transportation Secretary Sean Duffy launched an…