Latest News
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Police report two dead and three injured in explosion south of England
Police said that two people?died? and three others, including a child, sustained minor injuries?after an explosion? at a home in Bristol, southern England. Authorities are treating the cause as suspicious?, they added. Avon and Somerset Police Superintendent Matt Ebbs described the incident as domestic in nature. The police said that while the investigation is still at an early stage, they are not looking for anyone else in connection with the blast. The police said that there appeared to be no damage to any other property.
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OPEC+ increases oil production quotas for the third time since Hormuz's closure
?OPEC+ decided on Sunday a modest increase in oil production for June. This will remain largely a paper increase as long as the Iran War continues to disrupt Gulf Oil supplies through the Strait of Hormuz. OPEC+ announced in a press release after an online conference that seven OPEC+ member countries would increase their oil production targets in June by 188,000 barrels a day, marking the third consecutive month of increases. The increase is identical to that for May, minus the United Arab Emirates' share. They left the group May 1. OPEC+?sources said that the move was intended to demonstrate the group's readiness to?raise supply once the war ends and to signal that OPEC+ continues to do business as usual despite the UAE leaving OPEC+. "OPEC+ sends a double-layered message to the market : continuity despite UAE's departure, and control despite a limited physical impact," said Jorge Leon. He is an analyst with?Rystad, and he was formerly OPEC. The Strait of Hormuz is a major constraint on the physical supply, even though output has increased on paper. It's less about adding barrels, and more about letting OPEC+ know that they still have the final say. Saudi Arabia, the top OPEC+-producer, will have a quota of 10.291 millions bpd by June. This is far more than its actual production. In March, the kingdom reported a production rate of 7.76 millions bpd. Saudi Arabia, Iraq Kuwait, Algeria Kazakhstan, Russia and Oman were the seven members that met on Sunday. OPEC+ now has 21 members, including Iran, after the UAE leaves. In recent years, only the seven nations plus UAE were involved in the monthly production decisions. The hike will remain a significant symbol until the Hormuz re-opens. The Iran War, which began February 28 and resulted in the closure of the?strait of Hormuz, has slowed down exports by OPEC+ member Saudi Arabia, Iraq, Kuwait and the?UAE. These?producers had been the only ones in the group that could increase production before the conflict. Oil executives from the Gulf have stated that it could take months for the flow of oil to return to normal. Analysts predict that jet fuel shortages will occur in the next one to two weeks and global inflation will spike. Crude oil production from all OPEC+ member countries averaged 35.06 mbpd in march, down 7.70 mbpd compared to February. Iraq and Saudi Arabia made the largest cuts because of constrained exports. The statement stated that the seven OPEC+ member countries will meet again on 7 June. Reporting by Alex Lawler and Olesya Astakhova, writing by Dmitry Zhdannikov, editing by William Maclean, Joe Bavier
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Russian TV reports that Slovakian PM Fico will attend the Victory Day Parade in Moscow.
Robert Fico, the Slovakian Prime Minister, is one of only a few 'global leaders' who will be attending a'scaled-down' 'edition' of Russia's Victory Day 'parade this month in Moscow. This was announced by Russian state TV on Sunday. Fico, following Viktor Orban’s loss of the election in Hungary last week, is now seen as the most pro-Russian leader within the European Union. Hungary and Slovakia continue to receive Russian gas despite EU efforts to reduce the reliance of the bloc on Russian energy. Fico also broke ranks with EU when he visited Moscow in 2024 - two years after Russia invaded Ukraine. He also met with Russian leader Vladimir Putin in the Kremlin in the aftermath of the parade on Red Square last year, provoking a backlash from both the Slovakian opposition as well as Brussels. Alexander Lukashenko, the Belarusian president, will be in Moscow for the celebrations on May 9. The parade is one of the highlights of the Russian calendar, celebrating the victory of the Soviet Union, of which both Russia and Ukraine are a part, over Nazi Germany during World War Two. The Kremlin announced on Wednesday that Moscow would hold a streamlined version of the 'parade' this year, without displaying?the usual large display? of weaponry. This is due to an increased threat from Ukrainian attacks.
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As heavy rains strike northeastern Brazil, at least six people are dead and thousands of others have been displaced.
The federal government announced on Saturday that heavy rains have caused tens of thousands to be displaced in the states of Pernambuco, and Paraiba. Pernambuco experienced flooding and landslides due to heavy rainfall in Recife, the capital of the state, and surrounding areas. Two people were killed in Recife, and two more in the neighboring town of?Olinda. Around 1,500 people were left homeless or displaced. According to the Integration and Regional Development Ministry of Brazil, in 'Paraiba two people were killed and 1,800 left homeless or displaced. The worst affected cities included Conde, Joao Pessoa, and Campina Grande. The National Center for Risk and Disaster Management sent out 22 alerts in the midst of the rainy season. The 'operational level has been raised to maximum alert due to the impacts in Pernambuco, Paraiba, and the weather forecasts for the region," said the'ministry. Although the rain has stopped and conditions are improving, it is still important to remain vigilant throughout Saturday. Luiz 'Inacio Lula Da Silva, President of the Republic of Brazil, said that he spoke with local authorities and offered his support. "The government continues monitoring?the situation in order to provide all the necessary assistance," he said.
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Berkshire CEO Abel: 'We're back at first base'
Greg Abel, CEO of Berkshire Hathaway, welcomed on Saturday a recent court ruling that could limit liability at its PacifiCorp Utility business. The company is defending against lawsuits related to wildfires in Oregon and northern California. Abel, speaking at Berkshire Hathaway's annual shareholders meeting in Omaha Nebraska, said that the Oregon state court decision on April 8, stating that a major wildfire case cannot proceed as a mass action, relieves PacifiCorp of pressure as it attempts to convince regulators to allow it to charge enough for power. He said that the threat had been reduced. PacifiCorp is defending itself against a lawsuit over a number of?wildfires? in Oregon and California. Among them, several victims have blamed the company for failing to turn off power lines at a windstorm that occurred during Labor Day weekend 2020. A 2023 Oregon jury found PacifiCorp grossly negligence, potentially exposing the Portland utility to liability of tens or even hundreds of millions of dollars in future damages trials. PacifiCorp said that it faced claims of up to $55 billion in the past. The Oregon appeals court ruled that the trial judge had erred by instructing the jury to assume that PacifiCorp was guilty of wrongful conduct for all fire victims. Prior to that decision, 171 Plaintiffs were awarded approximately $1.1 billion during a series "mini-trials", which began in January 2024. The trials were expected to continue until 2028. Abel said: "They told me to go back to the beginning and start again." PacifiCorp is working with several Western?U.S. States should cap their liability for wildfires and create state-administered funds to compensate victims. Utility companies like PacifiCorp believe that this arrangement offers them a safety net, allowing them to invest in grid infrastructure and maintenance without worrying about indeterminate litigation straining their liquidity. Abel stated that PacifiCorp wants to create a "regulatory contract" in which it could charge enough for customers to justify spending on infrastructure without taking excessive risks, but is met with resistance from politicians and regulators who don't want to see rates go up. California has increased its wildfire fund to $18 billion after multiple fires ravaged parts of the Los Angeles region in January 2025. Abel called Utah's protections that allow large utilities to surcharge their customers and limit liability for some claims the "gold standards." Oregon, in particular, has not yet followed. Berkshire Hathaway Energy is the immediate parent of PacifiCorp. Berkshire purchased the utility in 2006 for $5.1 billion. Reporting by Jonathan Stempel, Omaha, Nebraska. Editing by Colin Barr and Sharon Singleton.
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Thyssenkrupp and Jindal agree on a halt to the sale of a steel unit
Thyssenkrupp announced on Saturday that it had 'paused' talks with India's Jindal Steel International about a potential'sale' of the 'German industrial group's' steel unit. This is a setback to CEO Miguel Lopez’s restructuring efforts. Reports in March indicated that discussions may be canceled due to disagreements over pension liabilities, investments, and energy costs. Four people who are familiar with the issue were cited. Jindal Steel International made a bid indicative?for Thyssenkrupp Steel Europe in the past year. This led to months of due diligence, and negotiations on a possible purchase of Europe's?second-largest steelmaker. Thyssenkrupp stated that "the?original assumptions, and prerequisites of a possible sale of Thyssenkrupp Steel... have changed significantly in recent months," adding that it was a mutual decision to stop the talks. The EU's safeguard measures have boosted Europe's steel industry, protecting it from cheap Asian imports. Analysts say that the steel industry is set to rebound, and the first quarter 2026 may'represent an inflection-point,' pointing out a rise in the price of steel on the continent. (Reporting and Editing by William Maclean, Keith Weir and Keith Maclean)
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China's Commerce Ministry blocks US Sanctions against Five Refineries
According to Xinhua, the Chinese Ministry of Commerce announced on 'Saturday that it had issued a?injunction against U.S. sanctions imposed upon?five Chinese refining companies accused of allegedly buying Iranian oil. The Ministry named the five refineries as Hengli Petrochemical Refinery (Dalian), and so-called 'teapots' Shandong Jincheng Petrochemical Group Hebei Xinhai Chemical Group Shouguang Luqing Petrochemical, and Shandong Shengxing Chemical. The U.S. Treasury imposed sanctions in April on Hengli Petrochemical accusing the company of purchasing?billions in dollars of Iranian oil. This was an increase in Washington's ongoing effort to 'curb Tehran's revenue from oil. The Trump administration,?last year, imposed?sanctions against the other four refineries that were named by the Ministry. The ministry stated that the U.S. sanctions are in violation of "international law and basic norms" of international relations. The ministry said that it had issued an injunction as a result. The Ministry of Foreign Affairs stated that "the injunction specifies that the United States can't recognize, implement or comply with sanctions imposed on?the above?five Chinese firms." The sanctions caused some difficulties for the refiners, such as difficulty receiving crude oil and having to sell refined products with different names. Teapots make up a quarter of Chinese refinery capacity, but they operate at narrow margins - and sometimes even negative ones - due to a tepid demand.
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Washington Hilton attack highlights hotel industry's costly and nagging security issue
The suspect accused of storming a checkpoint on Saturday and firing a gun near the White House Correspondents' Association Dinner mocked the security measures at Washington Hilton that allowed him to be so close to Donald Trump. In a manifesto written before the attack, the hotel guest Cole Allen, identified by law as a 31-year-old man, wrote: "I expected surveillance cameras everywhere, bugged rooms, armed officers every 10 feet and metal detectors to the roof." "What I got," Allen added, "is absolutely nothing." Allen's attack has 'heightened a problem that the hotel industry has been facing for decades: how to maintain a warm and welcoming atmosphere while tightening security. Some security companies are now offering AI-powered monitoring systems, but hotels are reluctant to use anything that might increase costs or invade the privacy of their guests. Security will continue to improve as technology continues to identify strange behavior. "At the end of it all, this is a hospitality industry where the customers must feel welcomed," said Nicolas Graf a professor at New York University. Allen then moved up the building, before charging the checkpoint located on the floor above the dining room where Trump and 2,600 journalists were having dinner with government officials. Trump and his guests were able to escape safely, but this breach shows that the real risks at events like these are inside the hotels. Hotel attackers exploit the same vulnerabilities repeatedly: multiple entry points, guests arriving all hours of the day, uneven screening and blurred boundaries between public and protected areas. Morgan Stevens is the senior vice president of global security operations for Crisis24. She noted that not every guest is screened in the same way. Hotels need to increase security in order to save lives but they also have to be careful with their expenditure. The top nine hotels, casinos and resorts by revenue are expected to generate about $102 billion between 2025 and 2025. However, margins have been squeezed in recent years. Washington Hilton Hotel said that it operated under "stringent Secret Service protocols" after the attack. Hilton Worldwide Holdings refused to comment on this story. However, the steps taken after the attack Saturday were familiar. The hotel was sealed off by law enforcement. Investigators traced the suspect’s steps. Experts in security debated whether anything could have been done better. Allen was accused of attempted assassination and discharging a gun during a violent crime, and illegally transporting firearms and ammunition across state lines. He had taken a train to his hometown in California. He hasn't yet entered a guilty plea. Hard to Secure Hotel rooms are rarely closed for major events, but access is restricted by separate elevators and restricted floors. Experts say that it usually takes a few days or a week to prepare a hotel for a big event. Security teams carry out site surveys, create credential systems and divide the hotel into controlled zones. Other guests can still enter the lobbies and restaurants, as well as the guest floors, alongside those who have been screened. They said that this creates insurmountable security gaps. A spokesperson for the American Hotel and Lodging Association said that hotels employ a multi-layered approach to safety and protection. The spokesperson stated that precautions include trained personnel, surveillance systems and access control, as well as coordination with law enforcement. Robert McDonald, assistant Professor at the University of New Haven, and retired supervisory Secret Service Agent, said that the agency usually works with hotel security, the local police, and the White House administration in order to develop a plan for security rather than shutting down hotels outright. The latest incident has shaken confidence in this model. Trump claimed that the hotel "was not a particularly safe building." Reports said that U.S. officials were reassessing the security of the Washington Hilton. President Ronald Reagan had been shot outside the hotel by John Hinckley in 1981, prompting some to call it the "Hinckley Hilton." McDonald stated that after the shooting, the Hilton installed a garage that allowed presidential motorcades access to the building. It also increased the use of magnetometers, as well as tightened press controls. Other major hotel attacks around the world have led to a change in security. The 2008 attack on the Taj Mahal Palace Hotel, Mumbai, that left 31 people dead in the hotel was a turning point. Graf, from NYU, said that "the industry has improved significantly" since the Mumbai attacks. A man who shot out of the window from a 32nd floor suite in the Mandalay Bay Hotel in Las Vegas in 2017 killed 58 people at a concert nearby. It was the deadliest mass killing in U.S. History. Many more people were injured. Costly Security Upgrades Experts say that implementing AI-powered weapon detection in hotels would be expensive and complex. In December 2024, shortly before the murder of UnitedHealthcare CEO Brian Thompson in front of a Hilton hotel in Midtown Manhattan by a gang of terrorists, AI security company Xtract One received a request from the chief security officer for a major hotel 'chain regarding its weapons detection system. No rollout has yet taken place. Peter Evans, CEO of?XtractOne, said that the problem is complex and cannot be solved by a single device. He noted the large number of people, the multiple entrances and the wide variety of luggage that moved through large hotels. Evans noted that interest has increased in certain international markets. This is especially true in Mexico, where cartel violence and fear of travel have hurt revenues. Anthony Varchetto said that hotels allocate resources to external threats, while underestimating the risks posed by guests. He said that this is a common mistake. "People become complacent and understaff. A lot of this comes down to the budget."
After Trump's promise to help free stranded ships in the Strait of Hormuz, oil prices drop
?Oil Prices eased on 'Monday, after U.S. president Donald Trump'said he would start an effort to release ships stranded at the Strait of Hormuz. However, the absence of a U.S. Iran peace deal kept the prices above $100.
Brent crude futures dropped 64 cents or 0.59% to $107.53 per barrel at 2308 GMT, after falling $2.23 on Friday.
U.S. West Texas Intermediate is now at $101,10 per barrel, down by 84 cents or 0.82% after a loss of $3.13 on Friday. Trump said in a Sunday post on the Truth Social website that "for the good of Iran and the Middle East and the United States we have told these Countries that we will safely guide their Ships out of restricted Waterways so that they can freely get on with their businesses." The price of oil remained at $100 per barrel, with no sign of a peace agreement and limited traffic through the Strait of Hormuz. The U.S. continued to negotiate with Iran over the weekend, as both countries assessed the other's response.
Analysts at ANZ said that "Peace negotiations have stalled because both sides refused to move from their respective'red lines.
Trump has prioritized a nuclear agreement with Tehran, while Iran proposed to "set aside nuclear matters until after the war is over and the enemies 'agree? to lift the opposing blockades against Gulf shipping.
On Sunday, the Organization of the Petroleum Exporting Countries (OPEC+) announced that they would increase oil production targets for seven members by 188,000 barrels a day in June, the third consecutive month of increases.
The increase is identical to that for May - minus the share of United Arab 'Emirates which left OPEC at the beginning of 'May 1. The higher volume is largely a paper increase as long as the Iran War continues to disrupt Gulf Oil supplies through the Strait of Hormuz. (Reporting and editing by Edmund Klamann, Sonali Paul and Florence Tan)
(source: Reuters)