Latest News
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Ampol reports near five-fold increase in profits as Iran War boosts refining margin
Ampol, Australia's largest fuel retailer, posted a nearly five-fold increase in?interim profits to a record high on Monday. This was largely due to the sharp rise in refinery margins as a result of supply disruptions in Middle East. Ampol operates one of Australia's?refineries. Profit margins have more than tripled since the beginning of the U.S. War with Iran. The company reported a nine-fold increase in its earnings from the fuel and infrastructure (F&I), while its earnings from convenience retail rose by 12%. The underlying net profit after taxes reached a record A$857.2?million ($614.44?million) for the six-month period ended June 30. This compares to A$180.2 million a year ago and easily beats?the Visible Alpha consensus estimate of A$840?million. Ampol announced an interim dividend of 185 Australian Cents per share. This is more than quadrupling last year's interim?dividend of 40 Australian cents.
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Fire threatens Reno, Nevada and tens of thousands are ordered to evacuate
Tens of thousands have been evacuated from Reno this weekend, and others were ordered to leave on Sunday, as a wildfire raged near the outskirts of Nevada's third most populous city. Local officials reported late Sunday that the Hawk Fire was threatening northern Reno and had forced 42,000 residents to leave their homes or evacuate. Another 45,000 were in "be ready to evacuate" mode. Local TV footage showed flames encroaching on roads. Eyewitness footage?verified as true by eyewitnesses shows smoke billowing over residential neighborhoods. Websites that track fires showed evacuation zones extending from the Sierra Nevada Hills to the University of Nevada, located in Reno's northwest. Officials said that the fire had burned approximately?13,000 acres (5.261 hectares) to date, at a Sunday press conference. They said the fire was caused by humans and is still under investigation. Three civilians as well as three first responders were injured, according to?Shane Akerson. He is a commander in charge of?fire-and-rescue operations. Richard Edwards of the Truckee Meadows Fire Protection district said that officials first heard reports of an alleged fire on Hawk Meadow Trail around 11:15 am PDT (1815 GMT), Saturday. He said that firefighters worked in "extremely red flag" conditions on Saturday. Conditions that are red flags include high temperatures, low humidity and strong winds. These conditions increase the risk of wildfires. Edwards stated on Sunday that he expects the same conditions to return this afternoon. Nevada - Governor Joe Lombardo declared an emergency state late Saturday night in Washoe County. This includes Reno and some parts of Lake Tahoe. In a recent statement,?Lombardo stated that the situation was "active and rapidly evolving". He urged residents to be vigilant and to follow local officials' directions. Officials said that Lombardo had authorized the deployment of 60?National Guard members to support operations in conjunction with?the Washoe County Sheriff's Office. Commercial flights continued to operate normally on Sunday at the?Reno-Tahoe International Airport, which was outside of the evacuation zone.
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Government says 30 people killed in landslide at Guinea landfill
The government announced on Sunday that 30 people were killed in a landslide near a landfill?in Guinea's capitol after heavy rains caused a mound of?waste to collapse, engulfing nearby tents and shelters. The incident happened less than one week after the government announced its plans to relocate waste and close the landfill site. This was due to the danger it posed. According to a government statement, the landslide occurred?at 2 a.m. (0200 GMT), in the Gbessia community of Conakry. According to the government statement, 30 people were killed and six others seriously injured. Another 16 people suffered only minor injuries. Rescue workers were using excavators, among other tools, to clear the area of the landslide. Witnesses said that the slide was large enough to bury a building and several more homes. Cire Diallo told reporters that all five of her children had been killed. "I've lost all my kids." "All I can do now is trust God," said the woman. Guinea has the largest bauxite deposits in the world and is home to?the richest untapped iron ore at Simandou. A massive mining project began there in November. Guinea has a poor infrastructure and widespread poverty. According to a World Bank Report published in April, 3.7 million out of the 15.1 million residents 'live on less than $4.20 a day. Djenab toure, Guinea's Minister of Territorial Administration, announced Thursday that the government would close the landfill due to its unsafe condition and relocate the waste outside Conakry. The?government said that Prime Minister Amadou?Oury Bah had visited the landfill on Sunday to assess?damage, supervise the response and ensure the people remained calm and showed solidarity. Reporting by Guinea Newsroom, Writing by Robbie Corey Boulet; Editing and Mark Porter.
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Kazakhs vote in elections that will tighten President's powers
Kazakhs began voting 'Sunday in a snap election for a new parliament that appeared to be strengthening the power of President Kassym Jomart Tokayev over this 'Central asia country. The election was triggered after the adoption of a revised constitution in early this year. This new constitution consolidated parliament into a single chamber, reducing it from two. Kazakhstan's Supreme Court said last month that Tokayev who took office in 2019 was allowed to run for another seven-year term under the new constitution. Opinion polls show a majority of people support 'Adilet', a pro Tokayev party that was founded only a few months ago. The previous ruling party Amanat has been dissolved. The election is also being contested by a number of opposition parties who are all viewed as generally loyal to Tokayev. Tokayev, who voted in Astana's capital, told journalists that it was too early to decide whether he would run for another term. Tokayev is the successor of Kazakhstan's first President, Nursultan Nazabayev. He split with his predecessor after the 2022 unrest, which he has characterized as a coup by Nazarbayev's allies. Reporting by Felix Light, Mariya Gordeyeva and Elaine Hardcastle
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Former world boxing champion Tete of South Africa is shot dead outside his house
?Police?and?the country's Sports Minister?have confirmed that former world boxing champ?Zolani 'Last Born' Tete has been shot dead outside his home on Friday in South Africa's Eastern Cape province. Two armed men in balaclavas jumped out of the vehicle as the 38-year old was approaching his home in Mdantsane Township and opened fire. Gayton McKenzie, Sports Minister Gayton said in a press release: "I won't speculate on who did it? Or why." Tete's murder will bring attention to violent crime in South Africa. Despite recent declines, the country continues to have one of highest murder rates in the world. The murder of Tete has also touched a nerve in Mdantsane. This township, located in the Eastern Cape province of South Africa, has produced many of South Africa's best-known?boxers. A woman aged 27 who was travelling with Tete, was shot several times and taken to hospital. The police have begun an investigation and the motive is still unclear. Tete won the IBF junior bantamweight title in 2014, after beating Japan's Teiru "Kinoshita" in Kobe. Later, he?won a WBO bantamweight title. His '11-second knockout' of South?African Siboniso Gonya in Belfast in November 2017 is what he will be remembered for internationally. It was the fastest finish in a world title bout.
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Ukrainian drones kill multiple people in warehouse of Russian online retailer Ozon
Russian officials reported that Ukrainian drones had killed at least six civilians in an overnight wave of strikes against Russia. The strike also targeted a warehouse owned by the online retailer Ozon, as well as an industrial facility located in Samara. Vyacheslav Federishchev, the Governor of Samara, posted on Telegram that several people were injured in the strikes. He did not mention the industrial facility that was struck but Ukraine's Military?said they had struck the Novokuibyshevsk Refinery in the region, causing an fire. Ozon, Russia’s second largest?online retailer said in a Telegram statement that the work at its Samara region logistics centre in Chapayevsk was halted following the strike. It said the strike caused?injuries. This is the first strike on Ozon after weeks of drone attacks against its larger rival Wildberries. Ukraine has framed this as part a broader campaign to attack the economic infrastructure that underpins the Russian war on Ukraine. Veniamin Kodratyev, the governor of the southern Russian region of Krasnodar said two children were killed and two adults injured?in an attack on the Sea of Azov Port Town of Yeysk. He claimed that a fire broke out at an unnamed building in the port of the town. In an attack on the Ukrainian border region, Belgorod, a region of?Russian?Belgorod, which borders Ukraine said that two people were killed and thirteen others wounded. The local governor of Bryansk said that four people had been injured in the?border region. The governor of Luhansk in eastern Ukraine, which is almost entirely controlled by Russia, said that two civilians including a 16 year old boy, were killed, and nine others wounded. The Russian Defence Ministry announced that it had shot down 457 Ukrainian drones over night. (Reporting and editing by Alexandra Hudson, Emelia Sithole Matarise and Felix Light)
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US and Iran continue to use hostile rhetoric in advance of new sanctions
The United States, Iran and China exchanged defiant e-mails ahead of the scheduled announcement on Monday of new U.S. sanctions that may?impact Iran and its most important trading partners such as China. The war was approaching six months and the two sides were not only not exchanging shots but they also weren't pursuing any peace talks. Oil shipments have been virtually stopped through the Strait of Hormuz as Tehran holds on to its leverage, threatening to hit any unauthorised oil tankers who attempt to cross the narrow waterway. Scott Bessent, U.S. Treasury secretary, will hold a news conference on Monday at 2 pm EDT (1800 GMT), promising to unveil "the most severe sanctions in history" against Iran and urging China's cooperation with Washington. According to data from Kpler, China bought more than 80% (of the oil shipped by Iran) in 2025. ?Beijing urged diplomacy. Esmaeil baghaei, spokesperson for Iran's Foreign Ministry, said that the impending announcement by the United States of new economic sanctions against Iran is an "assertion extraterritorial sovereignty over every independent member state of the United Nations." In a blog post on X, he stated that "Such secondary sanctioned have no basis in international law." Donald Trump, the U.S. president who warned against economic sanctions for any country providing "any kind of lifeline" to Iran, said on Friday Washington was watching "what happens". Trump said that Iran would like to do a deal but was not prepared to make it. HORMUZ?TRAFFIC HALTED While U.S. effectively blockedaded Iranian vessels, the Strait of Hormuz remains bottled up. Thousands of seafarers are stranded aboard hundreds of?vessels. Ship-tracking data revealed that only four commodity ships were sailing along the Strait of Hormuz on Thursday. None of these vessels were large crude carriers, or liquefied gas tankers. Iran, however, has allowed a number Iraqi oil tankers the opportunity to pass through this Strait after repeated requests by Baghdad. This was reported Saturday by Iran's official news agency IRNA. IRNA reported that Baghdad had made a number of requests to Baghdad during the visit by Iranian Parliament Speaker Mohammad Baqer Qalibaf. Energy Secretary Chris Wright of the United States said that the U.S. Military helped move an average of 8,000,000 barrels of oil per day through the Strait in a week. This is down from over 20 million barrels per day prior to the war, or approximately?one out of every five oil barrels consumed globally. The U.S. has severely damaged Iran's economy, its navy and its air force. But Tehran still maintains enough drone and missile capability to attack regional rivals and impede oil tanker travel. Trump has not yet achieved the objectives he set for himself at the beginning of the war, such as dismantling Iran’s nuclear program – the status of which is uncertain, given that U.N. Inspectors are no longer allowed to enter the country since 2025 – and creating conditions so Iranians can overthrow the clerical leaders. On the first day of war, thousands have died. 168 Iranian children were among them. More than 750 US military personnel have been reported as wounded, and 18 people killed. The Iranian Economy is Damaged On Friday, the chief of staff of Iran's Armed Forces, Major General Ali Abdollahi promised that Iran will respond militarily to threats from enemies with "crushing and punishing responses" as well as "devastating ones." Masoud Pezeshkian, the president of Armenia, called for a diplomatic resolution. Pezeshkian, speaking to ISNA, said that it would be better to end this war now, when America is powerful and has dignity. The world will acknowledge our victory, and recognize the fact that America, in violation of all laws, attacked our schools, hospitals and infrastructure, and is hated around the world. In comments made late Thursday to Iranian and Iraqi entrepreneurs, Iran's parliament Speaker,?Mohammad Baqer Qalibaf acknowledged the strains on Iran's economic system. Qalibaf told the official news agency IRNA that "no matter how much power we have in terms of military, we will not survive without food for our people, financial turnover, economic development and national production." (Reporting and writing by Kanishka Singa and Ismail Shakil, Editing by Cynthia Osterman).
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RPT-US and Iran continue hostile rhetoric in advance of new sanctions
The United States, Iran and China exchanged defiant e-mails ahead of the scheduled announcement on Monday of new U.S. sanctions that may?impact Iran and its most important trading partners such as China. The war was approaching six months and the two sides weren't exchanging fire, but they also didn't pursue peace talks. Oil shipments have been virtually stopped through the Strait of Hormuz as Tehran holds on to its leverage, threatening to hit any unauthorised oil tankers who attempt to cross the narrow waterway. Scott Bessent, U.S. Treasury secretary, will hold a news conference on Monday at 2 pm EDT (1800 GMT), promising to unveil "the most severe sanctions in history" against Iran and urging China's cooperation with Washington. According to data from 2025, the analytics firm Kpler estimates that China purchases more than 80% (or all) of Iran's oil. Beijing urged diplomacy. Esmaeil baghaei, spokesperson for Iran's Foreign Ministry, said that the United States was about to announce new economic sanctions against Iran and that this would be an "assertion extraterritorial sovereignty over every independent member of the United Nations". In a blog post on X, he stated that "Such secondary sanctioned have no basis in international law." U.S. President Donald Trump said that Washington is watching "what happens" during the conflict. He has previously warned that any country providing "any type of support to Iran" will face economic consequences. Trump said that Iran would like to do a deal but is not yet ready to make it. HORMUZ TRAFFIC HALTED The U.S. effectively blockedaded?Iranian ships in their ports while the Strait?Hormuz remained bottled-up with thousands of seafarers stranded aboard hundreds of vessels. Ship-tracking data revealed that only four commodity ships were sailing along the strait Thursday. None of these vessels were large crude carriers or LNG tankers. Energy Secretary Chris Wright of the United States said that the U.S. Military helped move an average of 8,000,000 barrels of oil per day through the Strait in a period of seven days. This is down from over 20 million barrels per day prior to the war, or one out of every five oil barrels consumed globally. U.S. strikes have destroyed Iran's navy and air force and severely damaged its economy, but Tehran still has enough drones and missiles to attack regional rivals and impede oil tanker travel. Trump has not yet achieved the objectives he set out at the beginning of the war, such as dismantling Iran’s nuclear program, the status of which is still uncertain, given that the U.N. inspectors have been shut out since 2025. Since 2025, inspectors are not allowed to enter Iran. On the first day of the war, 168 Iranian schoolchildren were killed. More than 750 U.S. military personnel have been wounded, and 18 have died. The Iranian Economy is Damaged On Friday, the chief of staff for Iran's Armed Forces, Major General Ali Abdollahi promised that Iran would respond militarily to threats from its enemies with "crushing and punishing responses." Masoud Pezeshkian, the president of Armenia, called for a diplomatic resolution. Pezeshkian, speaking to the ISNA news agency, said: "It is better to end the war now, when we have the power and dignity and when the whole world recognizes our victory. America has attacked our schools and hospitals and infrastructure, and is hated around the world." Mohammad Baqer Qalibaf is the main negotiator for Iran in the mediated talks between the U.S. and the Iranian parliament. He acknowledged the strains on Iran's economic system to Iranians and Iraqis late Thursday. Qalibaf told the official news agency IRNA that "no matter how much power we have in terms of military, we will not survive without food for our people, financial turnover, economic development and national production." (Reporting and writing by Kanishka Singa and Ismail Shakil, Editing by Cynthia Osterman).
The VDMA Engineering Group in Germany has seen a weak recovery this year
The VDMA association reported on Monday that geopolitical conflicts, U.S. tariffs, and general uncertainty have clouded the prospects for a robust recovery.
The engineering group reiterated its forecast and also called on Germany's new government to implement deep reforms including tax cuts, reducing regulations, and other measures to end what it described a paralysis of Europe's largest economy.
In a press release marking the opening of the Hannover Messe, the BDI industry group echoed these calls but predicted a slightly less drastic decline in production this year of 0.5%.
Ralph Wiechers, chief economist at the VDMA, said on the first day that the low point in production was reached during the first quarter. A recovery has begun - but hesitantly and not uniformly.
The VDMA predicted a decline of 8%, but the 7.2% was slightly less than that. It said that capacity utilisation in January was 78% due to the lack of new orders, and the depleted backlogs.
Around 1 million people are employed in the sector, which includes well-known German names like Siemens and Thyssenkrupp. Reporting by Tom Kaeckenhoff, Christian Kraemer and Madeleine Chambers and Rachel More.
(source: Reuters)