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World Economy Mar 25, 2026

Iran Assures 'Non-Hostile' Ships Safe Passage Through Strait of Hormuz

Iran has announced that 'non-hostile' ships can safely transit the Strait of Hormuz, a critical wat…
Iran has assured that 'non-hostile' vessels can safely pass through the Strait of Hormuz, a vital shipping route for about one-fifth of the world's oil and liquified natural gas supplies. The assurance comes amid a significant collapse in maritime traffic through the strait, which has contributed to a major global energy crisis.In a statement released through its mission to the United Nations, Iran specified that ships would be allowed to transit the strait 'provided that they neither participate in nor support acts of aggression against Iran and fully comply with the declared safety and security regulations.'The development follows a sharp decline in shipping traffic through the strait, with only about 5 vessels passing through daily, compared to an average of 120 daily transits before the US-Israel conflict began. This reduction has led to a surge in global energy prices, with Brent crude experiencing significant fluctuations.Iran's statement also mentioned that ships will be allowed to transit 'in coordination with the competent Iranian authorities.' The country has shared similar assurances with the International Maritime Organization (IMO), the UN body responsible for international shipping safety and security.The move comes as US President Donald Trump mentioned ongoing negotiations to end the conflict with Iran, despite Tehran's previous denials of talks. The situation remains complex, with global markets closely watching for any signs of resolution.
#iran #strait #list
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Business Mar 25, 2026

Epic Games Cuts Over 1,000 Jobs Despite Fortnite's Billions in Revenue

Epic Games, the creator of Fortnite, has laid off more than 1,000 staff despite generating billions…
Epic Games, the developer of the popular video game Fortnite, has announced that it will be laying off more than 1,000 employees. This move comes despite the company's significant revenue, with Fortnite generating around $4 billion a year and Epic Games estimated to have made $6 billion in revenue in 2025.The layoffs were announced by CEO Tim Sweeney in a note posted online, where he attributed the decision to a downturn in Fortnite engagement that started in 2025, resulting in the company spending more than it's making. Sweeney also cited industry-wide challenges, including slower growth, weaker spending, and tougher cost economics.Epic Games has been facing significant costs, including expensive legal actions against Google and Apple. The company's decision to lay off staff has raised questions about the sustainability of the live service game model, which has been adopted by many major publishers.The video game industry has been experiencing a period of turmoil, with many publishers struggling to maintain growth and profitability. The layoffs at Epic Games are a stark reminder of the challenges facing the industry, and the need for companies to adapt to changing market conditions.Analysts have noted that most live service games have peaked, but major publishers are still investing heavily in this area. The layoffs at Epic Games may be a sign of a broader shift in the industry, as companies re-evaluate their strategies and priorities.
#Epic Games #Fortnite #Tim Sweeney
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News Mar 24, 2026

UN Expert Accuses World of Granting Israel 'Licence to Torture' Palestinians

A UN expert has condemned the international community for effectively giving Israel a 'licence to t…
Francesca Albanese, the UN's special rapporteur on the rights situation in Palestinian territory occupied since 1967, has made a scathing accusation against the international community, stating that they have implicitly condoned Israel's torture of Palestinians. According to Albanese, life in the occupied Palestinian territory has become a 'continuum of physical and mental suffering.'In her latest report to the UN Human Rights Council, Albanese asserted that torture has become a state policy in Israel, with the occupied territory experiencing a regime of organised humiliation, pain, and degradation sanctioned at the highest political levels. She described how mass displacement, siege, denial of aid and food, and unrestrained military and settler violence have created a space of collective punishment.The report titled 'Torture and genocide' detailed that torture is not confined to cells and interrogation rooms but is a pervasive aspect of life in the occupied territory. Albanese called on UN member states to prevent and punish acts of torture and genocide and uphold international law, warning that tolerance for such acts against Palestinians would strip the law of its meaning.Albanese's statements have drawn backlash from Israel and the United States, with Israel labelling her an 'agent of chaos' and accusing her of antisemitism and Holocaust distortion. Despite this, Albanese remains a vocal critic of Israeli actions in the occupied West Bank and Gaza.Recent statistics highlight the severity of the situation: at least 72,263 people killed and 171,944 injured in Israeli attacks on Gaza since October 7, 2023, and over 18,500 Palestinians arrested in the occupied West Bank since October 2023, including at least 1,500 children.
#israel #torture #albanese
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Politics Mar 24, 2026

UK's Green Energy Leader Backs North Sea Oil and Gas Production Amid Energy Crisis

The head of the UK's national green energy champion, GB Energy, has surprisingly backed more North …
The UK's green energy landscape is experiencing a significant shift as Jürgen Maier, the boss of GB Energy, joins other prominent renewable energy leaders in advocating for increased North Sea oil and gas production. This move comes as the UK government faces mounting pressure to address an impending energy cost crisis. Maier, in a social media post on LinkedIn, emphasized that while more North Sea oil and gas may not directly reduce energy costs, which have surged due to escalating tensions in the Middle East, it could bring substantial economic benefits, including more jobs and higher tax revenues. He described himself as “a supporter” of a well-managed energy transition that includes “all energy,” later clarifying in a separate post that he fully supports the government’s ban on new oil and gasfield exploration licences. Maier suggested that utilizing existing fields and tiebacks—allowing new deposits to be extracted from existing infrastructure—aligns with an 'All Energy' approach. This strategy, he argues, would give supply chain companies sufficient time to transition while renewables remain the long-term goal. The comments from Maier follow similar endorsements from other green energy leaders, such as Greg Jackson, the Octopus Energy boss, and Tara Singh, the new chief executive of RenewableUK. Jackson, who sits on the Cabinet Office board, told the Daily Telegraph that the UK needs more “sovereign energy,” which requires practical decisions, including leveraging North Sea resources. Singh argued that Britain should produce more energy “of every kind” and called for taking energy out of the culture wars. Despite these calls, Energy Secretary Ed Miliband has ruled out new licences for the North Sea, though decisions on the Rosebank and Jackdaw fields, which were licensed under the previous government, are still pending. Industry sources expect these fields to be approved soon, potentially beginning production by the end of the year, which could provoke backlash from green groups. The government recently dismissed warnings from Offshore Energies UK that failing to produce more North Sea oil and gas would increase the UK's reliance on imports amid rising global instability. A government spokesperson stated that new licences would not enhance energy security or reduce bills, highlighting that oil and gas prices are set internationally. A Great British Energy spokesperson reiterated the company's focus on driving the clean energy transition to deliver a more secure and independent energy system. They emphasized that oil and gas will remain part of the energy mix for decades, and preserving the skills of oil and gas workers is crucial for a clean energy future.
#GB Energy #North Sea #oil and gas production
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Technology Mar 24, 2026

Labour MPs Urge Ofcom to Protect Men and Boys from Harmful 'Manosphere' Influencers

Labour MPs have written to Ofcom, urging the regulator to provide specific guidance to online platf…
More than 60 Labour MPs have called on Ofcom to take action against 'manosphere' influencers who target men and boys with harmful content, including gambling, sextortion, and violent pornography.The MPs argue that men and boys need protection from these influencers, who exploit young men by 'peddling lies, falsehoods and hate'. According to the Gambling Commission, 53% of 11- to 17-year-old boys see gambling adverts online each week, compared with 31% of their female peers.The Online Safety Act has forced Ofcom to give tech platforms guidance on tackling 'harmful content and activity that disproportionately affects women and girls', but MPs argue that men and boys are also targeted in specific ways. 91% of sextortion victims are male, according to the Internet Watch Foundation.Alistair Strathern, the MP for Hitchin and a co-chair of the Labour group for men and boys, said the Louis Theroux documentary Inside the Manosphere was 'another reminder of a particular way some of the worst of the internet can prey on young men and boys'. He emphasized that protecting men and boys is crucial to tackling violence against women and girls.An Ofcom spokesperson said protections in place under the Online Safety Act were designed to benefit anyone experiencing online abuse, and that their guidance encourages tech companies to use educational and preventive approaches to reduce online abuse.
#boys #men #online
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Sports Mar 23, 2026

US Security Concerns Rise as $625M in World Cup Funding Stalls

The US is facing growing security concerns ahead of the 2026 FIFA World Cup due to a delay in $625 …
The United States is experiencing rising security concerns as the 2026 FIFA World Cup approaches, with intelligence briefings warning of potential extremist attacks and civil unrest. The event, set to take place in June and July across the US, Canada, and Mexico, is expected to draw hundreds of millions of dollars in revenue and attract massive crowds. **A significant delay in $625 million in federal security grants** has compounded the issue, with officials warning that the stalled funding could hinder preparations and leave the country vulnerable to threats. The grants, part of a Republican-backed spending bill passed in July 2025, were initially expected to be allocated by January 30, but have yet to be distributed. The intelligence briefings, obtained by Reuters, have highlighted the risk of **extremist attacks on transportation infrastructure** and civil unrest related to President Donald Trump's immigration crackdown. There are also concerns about the presence of US Immigration and Customs Enforcement (ICE) officers and potential retaliatory threats. **The Federal Emergency Management Agency (FEMA) announced on Wednesday that it had awarded the grants**, which will be used to bolster security preparations. However, officials have expressed concerns that the delay could impact the ability to prepare for the event, with some warning that it will be 'extremely tight' to get everything in place in time. The security concerns extend beyond the matches themselves, with **FIFA Fan Festival events** also posing a risk. Several World Cup and state officials have expressed concerns about the potential for large crowds to gather and the risk of hostile actions by lone actors or extremist elements. **The event is expected to draw massive crowds and significant attention**, with 104 matches scheduled to take place across the US, Canada, and Mexico. US Representative Nellie Pou, a Democrat representing a district in New Jersey that includes MetLife Stadium, one of the sites where games will be played, said that each of the World Cup's 104 matches would be equivalent to a Super Bowl.
#cup #world #security
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World Economy Mar 23, 2026

Cuba Overcomes 29-Hour Nationwide Blackout Amid US Oil Blockade

Cuba has restored its power grid and brought online its largest oil-fired power plant, ending a 29-…
Cuba has successfully restored its power grid and brought its largest oil-fired power plant back online, ending a 29-hour nationwide blackout that affected the country's 10 million people. The blackout, which began on Monday, was caused by a combination of factors, including a US oil blockade that has severely impacted Cuba's fuel supply.The country's national power grid had fully come back online by 6:11 pm (22:11 GMT) on Tuesday. However, officials have warned that power shortages may continue due to insufficient electricity generation. The Antonio Guiteras power plant, a decades-old facility that underpins the country's power grid, was successfully fired up by midday on Tuesday.The US oil blockade, imposed by President Donald Trump, has had a significant impact on Cuba's economy and daily life. The blockade has restricted Cuba's access to oil imports, leading to dire fuel shortages and antiquated power plants struggling to meet demand. As a result, most Cubans, including those in Havana, have been experiencing 16 or more hours of blackout daily even before the latest grid collapse.The situation has led to heightened tensions between Cuba and the US, with Cuban President Miguel Diaz-Canel criticizing the US's "almost daily public threats against Cuba." The US State Department has blamed the Cuban government for the grid collapse, calling blackouts a "symptom of the failing regime's incompetence." Despite the challenges, Cubans have shown resilience, with many residents staying calm and adapting to the difficult circumstances.Cuba and the US have opened talks aimed at defusing the crisis, which is among the most acute since 1959. However, neither side has provided details of the ongoing negotiations. The situation remains a significant challenge for both countries, with the Cuban people bearing the brunt of the impact.
#power #cuba #grid
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World Economy Mar 23, 2026

Global Energy Crisis Worsens: IEA Head Warns of Worst Crisis Since 1970s Oil Shocks

The world is facing a severe energy crisis, worse than the 1970s oil shocks and the Ukraine war com…
The world is currently experiencing a severe energy crisis, surpassing the combined impact of the 1970s oil shocks and the Ukraine war, according to Fatih Birol, Executive Director of the International Energy Agency (IEA). Speaking at a media event in Australia, Birol warned that the energy crunch prompted by the US-Israel war on Iran has exceeded the 1973 and 1979 oil shocks and gas shortages stemming from Russia's 2022 invasion of Ukraine.Birol stated that the crisis is equivalent to two oil crises and one gas crash combined. He noted that the effective closure of the Strait of Hormuz and attacks on energy facilities have reduced global oil supplies by about 11 million barrels per day (bpd), more than double the combined shortfalls of the 1970s crises. Additionally, liquefied natural gas (LNG) supplies have been reduced by about 140 billion cubic meters, compared to a shortfall of 75bcm in the aftermath of Ukraine's invasion by Russia.At least 40 energy facilities across nine countries have been severely damaged in the conflict, according to the IEA chief. Birol emphasized that the global economy is facing a major threat and expressed hope that the issue will be resolved soon.Birol also expressed concern that the scale of the crisis had not been fully understood, which prompted him to speak publicly about the situation. The IEA has proposed measures to reduce energy consumption, including facilitating remote working and carpooling, and lowering speed limits on motorways.The IEA chief is in consultation with different countries about releasing more strategic oil reserves if needed. However, he emphasized that the single most important solution to the crisis is to unblock the Strait of Hormuz, which usually carries about one-fifth of global oil and LNG supplies.
#oil #energy #iran
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News Mar 23, 2026

Air Canada Flight Collides with Fire Truck at NYC's LaGuardia Airport, Killing Two

An Air Canada Express flight collided with a fire truck on the runway at LaGuardia Airport in New Y…
At least two people have been killed in a tragic incident involving an Air Canada Express flight that struck a ground vehicle while landing at New York's LaGuardia Airport. The accident occurred on Sunday night, and the airport has been closed since then, with flights diverted to other airports. The aircraft, operated by Jazz Aviation, a regional partner of Air Canada, collided with a firefighting truck on Runway 4 at approximately 11:40 pm on Sunday (03:40 GMT on Monday). The vehicle was driving to respond to a separate incident. According to the Port Authority, 32 of the 41 injured individuals had been released by Monday, while nine remained hospitalized with serious injuries. The passengers and crew members on board Flight AC8646, which departed from Montreal, included 76 people, four of whom were crew members. The CRJ-900 aircraft struck the vehicle at a relatively low speed of 39 kilometers per hour (24 miles per hour). Emergency response protocols were immediately activated, and the US Federal Aviation Administration (FAA) issued a ground stop for all departures to LaGuardia. The National Transportation Safety Board has dispatched a 'go team' to investigate the collision. The incident has caused significant disruptions, with arriving planes being diverted to other airports or returning to their point of origin. New York's Emergency Management has warned of potential cancellations, road closures, traffic delays, and emergency personnel presence near the airport. LaGuardia Airport, which served 33.5 million passengers in 2024, has been experiencing flight disruptions due to poor weather and staffing impacts from a federal funding lapse.
#airport #laguardia #new
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