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Jason Arday, former Cambridge professor at the centre of plagiarism scandal found dead
Jason Arday, former University of Cambridge Professor who was at the center of a plagiarism controversy, died today aged 41. Arday resigned as a professor of sociology and education earlier this month after the allegations, which caused a commotion in academia. He was the youngest Black professor at the university. Ambulance service found him unresponsive at a property located in Battersea south London. A 41-year old man was declared dead on the spot. The Metropolitan Police released a statement saying that his 'next of kin' had been notified and were being supported by police officers. At this time, his death is being treated a surprise but not as suspicious. Police said that officers from the Central South Command Unit of the Met are investigating the case. The University of Cambridge announced this week that it would be conducting an investigation into Arday's appointment to the Faculty of Education in 2022, and his subsequent time at the Faculty. A prominent professor who was often in the media this year, Arday faced accusations that some of his 2015 PhD dissertation had been plagiarized. He denied these allegations. Arday was accused of a wide range of allegations, including apparent inconsistencies with his other academic work and his claims regarding his career, personal life, and medical conditions. We are deeply saddened by this news. In a statement, Cambridge Vice-Chancellor Deborah Prentice expressed her deepest sympathies to Jason Arday's friends and family at this difficult time. Lucy Powell, Britain's education secretary, expressed her sadness at the death of Arday. The family expressed shock at the death of their loved one. The family stated that the 'campaign of misinformation' was too much for Jason. He was a 'gentleman and always wanted to see what was best in others. We won't say anything more at this time, except to ask the media to stop harassing Jason and his family. Reporting by Andy Bruce, Manchester; Editing Rosalba o'Brien
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The US data that denies a Fed rate hike is based on the recent oil price rally.
?U.S. The U.S. and European markets fell on Friday, while oil prices rose by more than $1 a barrel as the markets watched the tense U.S. - Iran talks and digested recent data that lowered expectations of a Federal Reserve rate increase next month. Oil and gas prices are poised to make significant weekly gains due to the failure of talks that were supposed end "the Iran war". The U.S. has threatened to increase economic pressure against Iran, including by extending a navy blockade. A survey released on Friday showed that the U.S. consumer's sentiment declined in early August due to the cost of living rising because of the Middle East war. Gold prices were supported by a sudden drop in U.S. Retail Sales. The data has further reduced expectations for a Federal Reserve rate increase at the meeting next month. U.S. Treasuries dropped on Friday, after an initial rally driven by retail sales data failed to gain momentum. S&P 500 shares fell 0.17% to 7,785.76, a session low. This was due to the decline in shares of chip equipment maker Applied Materials. Broadcom, Intel and other chipmakers also fell. The Dow Jones Industrial Average fell 0.20%, to 53,732.41 while the Nasdaq dropped 0.28%, to 26,729.16. Thomas Martin, Senior Portfolio Manager at GLOBALT Investments Atlanta said: "A lot of the drivers on the market today revolve around different parts of AI." European shares ended lower on Friday, ending a four-week streak of?winnings' as rising crude oil prices and renewed geopolitical conflict offset the support provided by a robust earnings season. MSCI's global stock index fell by 0.79 points (or 0.07%) to 1,160.01. The broadest MSCI index of Asia-Pacific stocks outside Japan closed 0.29 percent higher at 1,640.08. GEOPOLITICAL RISK The markets ended the week with a positive note. There were few events on the corporate and economic calendar that could have a negative impact on the markets. It's Friday and, as is typical, geopolitical risk, or at the very least, bombastic rhetoric between the U.S. Rodda stated that "currently, geopolitical uncertainties remain the only major macro roadblock for a market which is experiencing strong tailwinds due to earnings and the outlook of monetary policy". Brent crude oil futures closed at $88.52 per barrel, an increase of 1.67%. U.S. Futures ended at $82.40 a barrel, an increase of 1.42%. John Sidawi is a senior portfolio manager at Federated Hermes for fixed income. He said that a feature of the markets over recent months was the growing disconnect between asset price volatility and geopolitical uncertainties. "For the moment, it appears that markets are willing to accept a considerable amount of uncertainty before demanding higher risk premiums. This equilibrium, however, is not likely to last forever," Sidawi stated. "A significant escalation of?conflict, or a clear pathway toward resolution, could finally force investors to leave the sidelines and trigger a larger volatility reaction than current market prices suggest." YEN STUCK IN INTERVENTION LOOPS In currencies, the Japanese yen gained 0.1% against the dollar to 159.33 after three sources who are familiar with the policymakers' thoughts said that the Bank of Japan may raise rates in September. The 160 level is still in sight, and traders believe that it could spark another round of yen purchases from Tokyo after a joint intervention with the U.S. Last month, the Japanese currency was not supported. The dollar index, which measures greenbacks against a basket including the yen, and euro, dropped 0.28%, to 99.65. Meanwhile, the euro rose 0.35%, at $1.1567. The spot price of gold increased by 0.53%, to $4,374.27 per ounce. U.S. gold contracts settled at $4,437.30, up 0.4%. The yield on the benchmark 10-year U.S. notes increased 4.72 basis points, to 4.688%.
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British media reports that an ex-Cambridge professor who was at the centre of a plagiarism scandal has been found dead.
British media reported that Jason Arday was found dead. He was the former University of Cambridge professor at the center of a plagiarism scandal. Arday resigned as a professor in sociology of education earlier this month after the allegations, which rocked "the world of academia". He was the university's youngest Black Professor. The 'ambulance service' found him unresponsive at a home in Battersea (South London). "Unfortunately, a 41 year old?man has been pronounced dead on the scene. The Metropolitan Police sent a press release to inform his next of kin. In keeping with usual police practice, the statement didn't name the man. The Telegraph, Times, and?Sky News all linked the statement referred?Arday. "At this time, his death is treated as unexpected but it is not suspected to be suspicious. Officers from the Central South Command Unit of the 'Met are investigating this case. The police have said that a?file' will be prepared for a coroner. (Reporting and editing by Rosalba o'Brien, Andy Bruce)
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Trump escalates Iran rhetoric as he urges Americans accept higher gas prices
On Friday, President Donald Trump urged Americans accept slightly higher gas prices as a 'cost of stopping Iran from obtaining a nuclear bomb. He also said that he would declare the Strait of Hormuz an American territory. These comments highlight the increasing political risk that Trump faces as higher fuel costs collide with the campaign promise he made to reduce energy costs. Democrats are already trying to make the economic fallout of the Iran 'war' an issue leading up to the midterm elections in November. In a Garden 'City speech, Trump said that Americans who "pay just a little bit more" for their gasoline should remember this is the price to ensure "a very 'evil country" cannot have a nuclear weapon. Trump said that he will never apologize for his attack on Iran. Around 20% of all global oil and LNG shipments pass through the Strait of Hormuz. The potential for a long-term disruption is what has driven up oil prices. Trump escalated his rhetoric about the waterway, saying: "After we defeat Iran... I will declare the 'Hormuz strait' a territory of the United States pretty soon." It wasn't clear how serious Trump meant the remark or if it was a new position. The remarks are made as the Strait of Hormuz "remains" a major pressure point on global energy markets. This week oil prices have increased, with Brent crude nearing $90 per barrel and U.S. gas prices rising to $4 per gallon. (Reporting by Humeyra Pamuk, Jarrett Renshaw and David Ljunggren; Editing by David Ljunggren).
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Sources say that Codelco has reshuffled its mine leadership.
Sources at the Chilean copper?miner Codelco confirmed on Friday that a new executive had been appointed to oversee its troubled El Teniente Mine, while also replacing two other mine heads. The changes are being made as the new Chief Executive Jorge Gomez reviews the operations of Codelco following an investigation into irregularities found in production numbers reported for 2025. Two?sources claim that Codelco's current head of mineral resource, development and innovation Julio Diaz will be transferred to El Teniente - the company's flagship mine. According to two sources, Mario Quinonez will replace Diaz, who worked with Gomez in the Collahuasi Mine. Diaz's appointment would give Codelco a senior executive to oversee El Teniente after a fatal accident that killed six workers in July 2025 and disrupted construction projects. Codelco announced in February that it would undergo a "radical reorganization" at El Teniente following an internal audit which found serious breaches of duties?related to a accident in 2023 and flaws with reporting to the mining regulatory. Codelco is also replacing the general managers at Ministro Hales and Chuquicamata mines, according to?sources?. Sources say that Lindor Quiroga - currently the interim head of operations - is expected to take charge of the northern?operations for the company, including Chuquicamata and Ministro Hales, as well as?Radomiro Tomic. Sources said that Francisco Carvajal would lead the southern operations of the company. Codelco is also evaluating how to reprioritize its projects, as delays in?key development weighs on the output and prevents the company from reaching its original production goals in the next years. (Reporting and editing by Daina Beth Solon)
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US SEC will not interfere with shareholder proposals, worry activists
Investor activists are worried about the loss of influence after the top U.S. financial regulatory agency made its decision permanent to "cease judging" whether companies can exclude shareholder resolutions at annual meetings. The Securities and Exchange Commission of the United States announced a change that extends the freeze put in place by the Securities and Exchange Commission last November to decide whether or not to approve corporate requests for voting to be skipped on shareholder proposals. These letters were referred to as "no action" letters, because they responded to corporate requests that the agency not take any action if executives refused votes on proposals which often dealt with hot-button topics like carbon emissions and?workforce diversification. Executives claimed that such measures could micromanage or focus on ordinary business not worthy of attention by investors. In a website statement, the SEC said that the latest'move' will allow the Division of Corporation Finance to focus its resources on a more comprehensive review of filings. The SEC said that it had created a "extensive set of guidelines" on whether shareholder proposals should be excluded or not. Nobody is happy with the change. It hasn't had much of an impact yet. Freshfields, a law firm, found that 66% of all known proposals had been placed on proxy votes as of 15 June. This compares to 59% of the previous year. Few people are happy with the current status quo. Paul Atkins, the SEC chairman, called CEOs in July "lackadaisical", for not using tools such as this new policy. Investor activists claim they have to sue to get votes on certain items. "Instead, investors will have to consider other options when a company unilaterally excludes a resolution that has inadequate arguments," Tim Smith, senior advisor for the Interfaith Center on Corporate Responsibility, which includes resolution filers, said. Marc Lindsay, managing director of corporate governance for consulting firm Jasper Street Partners said that while the change on Friday was expected, it increases the risk of litigation for companies who exclude?proposals. He said that five of six lawsuits brought over exclusions resulted in favorable outcomes for the proponents. Lindsay stated that "while litigation is not common, the distractions and costs it can cause are a real concern to companies who consider exclusions. And?it could be worse by 2027." Subscribe to our newsletter to stay informed about environmental, social, and corporate governance issues.
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US-Iran claim that the control of Hormuz is a major factor in oil prices after tanker attacks
Crude oil prices rose on Friday, mainly due to renewed attacks against tankers and a verbal war between the Trump administration and Iran's leaders. Brent futures rose 80 cents or 0.92% to $87.87 per barrel at 10:48 am CT (1548 GMT), whereas U.S. West Texas intermediate crude futures increased 43 cents or 0.53% to $81.69 per barrel. Brent and WTI are on track to gain 5.09% a week and 4.37% a week, respectively. Bjarne Shieldrop is the chief commodities analyst for SEB Research. He said that higher oil prices are a result of U.S. policy towards Iran. This latest approach 'implies little hope for a resolution in the near future,' he added. The U.S. announced on Thursday that it could maintain a blockade against Iran indefinitely, and put more economic pressure on Tehran as a result of the stalled ceasefire negotiations. "Watch this space because more announcements are coming next week," said Scott Bessent, Treasury Secretary on Newsmax's program "Rob Schmitt Tonight." Schieldrop stated that "a return to normal flow out of the Strait?of Hormuz" is no longer a near-term hope. TRAFFIC SLOWS DOWN THROUGH STRAIT. As the U.S. claimed control over the strait and Iran claimed the opposite, the shipping traffic in the channel dropped below the average for the month. The strait was responsible for about a fifth of the world's oil and liquefied gas before U.S./Israeli attacks began on Iran in late February. The state-owned Abu Dhabi National Oil Company's two vessels were attacked Thursday while they transited the strait, according to the United Arab Emirates' WAM state news agency. Phil Flynn is a senior analyst at Price Futures Group. He said, "That headline is what pushed prices up: Tankers were attacked." Three sources said that the?drone attack on the Sheskharis terminal in the Black Sea port Novorossiysk caused the suspension of crude oil exports. This was a major disruption at one of Russia's main export outlets. Flynn also said that the Ukrainian attack against?the Port of Novorossiysk boosted prices. OPEC forecasts indicated a weaker growth in demand, and U.S. crude inventory posted its largest weekly rise in over 3-1/2 years. The IEA's and?EIA's reports this week were very revealing. Norbert Rucker is the head of economics at Julius Baer. He said that storage has held up "much better" than expected, and this should help to lower oil prices. Reporting by Erwin Seba, Mohi Nrayan, and Helen Clark, in Houston; Editing by Mark Potter. Barbara Lewis, Paul Simao. Rod Nickel.
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Since 2021, the scarcity of copper and pre-expiry drives has increased.
Investors covering bearish positions drove 'prompt copper price into the most extreme reversal?since 2021, on Friday. This was ahead of a benchmark contracts expiration next week. Backwardation, a market structure in which?prices? for prompt delivery are higher that those further ahead, highlights a severe shortage of inventories. The cash LME copper contract premium is the difference between the forward three-month price and the cash LME copper contracts. The price of a metric tonne has risen to $434, from $45 just two weeks earlier. This is the highest since October 2021 when it was at more than $1100. Alastair Munro is a senior base-metals strategist with broker Marex. He said: "The curves for copper are tight, and trade shorts have no choice but to buy outright or roll over their positions." Investors who are short or bearish can buy back positions or roll them over before next Wednesday expiry. But physical metal is scarce. Stocks outside of the U.S. Since months, traders have been positioning for the threat of U.S. Tariffs. The situation has also been exacerbated by a breakdown at Freeport Indonesia’s Gresik smelter which processes copper from the Grasberg Mine. LME copper stock Since late May, the total weight of these products has decreased by almost 50% to 204 975 tons. LME's available copper stocks (those that are not earmarked for disposal) have fallen even further to 94,875 tonnes, which is slightly more than a day's global consumption. The LME has established procedures for managing low-stock situations, such as those currently seen on the copper market. COMEX stocks of copper are a large part of the exchange inventories in the United States The number of short tons has risen by 47%, reaching a record high of 733,653 (665,558?metric tons). The tightness in the market was only reflected by a 0.1% increase on Friday for the benchmark three-month contracts, as traders expected it to be a short-term issue before next week's expiration. (Reporting and editing by Barbara Lewis, Tom Daly, Polina Devitt)
Italy's highest court clears Milan prosecutors of Eni Nigeria charges
The top court of Italy acquitted on Thursday two prosecutors from Milan who were accused of not submitting documents that would have supported the position of energy group Eni in an international corruption case.
Eni, Shell and all other defendants were acquitted of the charges in March 2021, in what had been described as the largest corruption case in the oil industry, relating to the $1.3 Billion acquisition of an oilfield in Nigeria more than 10 years ago.
The Italian highest court, the Court of Cassation, reversed a lower-court ruling and acquitted Prosecutors?Fabio de Pasquale, and Sergio Spadaro. They said "the offence doesn't exist".
"My colleague Fabio Federico and I are really happy." "This ruling brings justice to many years of suffering", said Massimo Di Noia one of the prosecutors lawyers.
In October 2025, judges in Brescia, a northern city in Italy upheld a sentence of eight months in prison. They found that the two prosecutors failed to fulfill their duty by failing to submit documents which could have?aided the defense.
De Pasquale and Spadaro were not available to comment on the decision, which was made after a five-year investigation.
In the appeal in Brescia, Spadaro stated that "there was neither a refusal nor an omission", and that the prosecutors acted according to "conscience and law".
The Milan court which?acquitted Eni, Shell and other defendants, had stated that the prosecutors did not file among the trial documents a video taken by an ex-?external attorney for Eni?that they deemed relevant to this case.
Brescia courts has jurisdiction in cases involving judges, prosecutors and other officials from Milan. Reporting by Emilio Parodi. Mark Potter edited the article.
(source: Reuters)