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Economy Apr 03, 2026

China's 'Teapot' Refineries Cushion Impact of Iran War on Oil Crisis

China's 'teapot' refineries have helped the country mitigate the effects of the US-Israeli war on I…
The ongoing conflict between Iran and the US-Israeli alliance has sent shockwaves through global oil markets, with Brent crude prices surging 5% to $106.16 per barrel on Thursday morning. Despite being heavily reliant on Iranian oil, China appears to have largely insulated itself from the crisis.China's strategy involves utilizing 'teapot refineries,' small, privately owned oil refineries primarily based in Shandong province. These facilities have been importing discounted Iranian and Russian oil, accounting for one-quarter of China's processing capacity. This approach allows China to circumvent US sanctions and maintain a stable oil supply.China's teapot refineries have been stockpiling oil reserves, providing a buffer against potential supply disruptions. According to Muyu Xu, a senior crude oil analyst at Kpler, China's seaborne crude imports in March stood at 10.19 million barrels per day (mbd), down from 11.51mbd in February but still in line with the 2025 average of 10.41mbd.The US has previously imposed sanctions on some of these teapot refineries for importing Iranian oil. However, China's tolerance of this independent system has proved strategically useful, allowing the country to maintain a flexible buffer for bargain barrels during crises.Experts note that while China's measures will not completely immunize the country from rising fuel prices, they do provide Beijing with more flexibility to survive a crisis compared with other nations. China's approach involves aggressive stockpiling, tolerating shadow networks, and keeping flexible buffers, demonstrating its preparedness for energy shocks.
#China #Iran #Russia
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News Apr 03, 2026

Trump Dismisses Attorney General Pam Bondi Amid Epstein File Fallout, Names Todd Blanche Acting AG

President Donald Trump removed Attorney General Pam Bondi after a turbulent 14‑month tenure, citing…
President Donald Trump announced on Truth Social that Pam Bondi is being removed as Attorney General, ending a contentious 14‑month stint at the Justice Department. Bondi, who described her upcoming shift to the private sector as a "transition," will leave the post within the next month. In a rapid reshuffle, Trump elevated Deputy Attorney General Todd Blanche—who previously served as the former president’s criminal‑defense lawyer—to acting attorney general. The president also hinted that EPA Administrator Lee Zeldin could become the permanent replacement, signaling a continued preference for close allies in key legal roles. Bondi’s ouster follows a series of high‑profile controversies. Most notably, her management of the Jeffrey Epstein files drew intense scrutiny. After promising full transparency, the Justice Department released heavily redacted documents that failed to satisfy public and congressional demands for a "client list" and other evidence. Critics, including victims’ attorney Gloria Allred, called her departure "long overdue" for mishandling the files. Beyond the Epstein saga, Bondi struggled to deliver the political prosecutions Trump expected. Efforts to pursue former FBI Director James Comey and other officials linked to investigations of the president stalled or collapsed, fueling Trump’s frustration that she was not "weaponising" the department aggressively enough against his perceived enemies. Bondi, a former Florida attorney general and the state’s first female AG, built a reputation on tough‑on‑crime initiatives such as combating human trafficking and cracking down on "pill mills." However, her limited involvement in the original Epstein non‑prosecution deal and her heated exchange with a Democratic lawmaker—where she called him a "washed‑up loser"—further eroded confidence in her leadership. The White House confirmed that Bondi’s private‑sector role will be announced "in the near future," while Blanche issued a statement on X thanking Trump for the trust placed in him and pledging to "continue backing the blue, enforcing the law, and keeping America safe." Congressional oversight intensifies as the House Oversight Committee had scheduled Bondi to appear before it on April 14 to answer questions about the Epstein documents. With her exit, committee chair James Comer said Republicans would deliberate whether to pursue the subpoena, while Democrats, led by Robert Garcia, insist she "will not escape accountability." Reactions span the political spectrum: Democrats such as Senator Elizabeth Warren denounced the DOJ under Bondi as a "cesspool of corruption," whereas Republican Senator Chuck Grassley praised her responsiveness to oversight and noted a decline in violent crime during her tenure. Republican Thomas Massie urged the next AG to release all Epstein files and pursue arrests. As the administration searches for a permanent attorney general, the choice between Blanche and Zeldin will signal how closely Trump intends to align the Justice Department with his political agenda moving forward.
#bondi #trump #his
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World Economy Apr 03, 2026

Billionaire fortunes surged under Trump, sparking a nationwide push for wealth‑tax measures

As billionaire wealth hit record levels during the Trump era, a growing coalition of activists, law…
Rising fortunes among the ultra‑rich under the Trump administration have ignited a wave of tax‑reform campaigns across the United States. In California, volunteers like Karen Sanchez are gathering signatures for a one‑time 5% wealth tax targeting the state’s 200‑plus billionaires to offset federal cuts to hospitals, education and food‑assistance programs.At least ten states are exploring similar measures. Washington recently enacted its first income‑tax aimed at roughly 20,000 millionaire households, while Massachusetts and Minnesota already channel wealth‑tax proceeds into preschool, K‑12 meals and transportation infrastructure.On the federal front, Senators Bernie Sanders and Representative Ro Khanna have introduced the “Make Billionaires Pay Their Fair Share Act,” proposing an annual 5% levy on billionaire net worth. Khanna argues that the ultra‑wealthy fund private health insurers, defense contractors and political campaigns, creating a stark fairness gap.Data from Oxfam shows that in the twelve months after Trump’s re‑election, billionaire fortunes grew at a rate three times faster than the average annual growth of the previous five years. Meanwhile, the federal minimum wage has remained stagnant at $7.25 for fifteen years, underscoring the widening economic divide.A Data for Progress poll released last fall found that 70% of Americans believe the economic system favours corporations and the wealthy. “People are angry and want change,” says Amy Hanauer of the Institute on Taxation and Economic Policy (ITEP), noting that activists are leveraging every level of government to seek relief.The movement draws on a two‑decade history of class‑based activism, from the Occupy Wall Street protests to Senator Sanders’ 2016 campaign that foregrounded wealth‑tax proposals. Yet inequality has deepened: CEOs of the five largest U.S. firms now earn, on average, **$52 million** annually—over a thousand times the typical worker’s salary.Political spending by billionaires has also exploded. A recent New York Times analysis reveals that billionaire contributions rose from **0.3% of campaign funds in 2008** to **19% in 2024**, amounting to more than **$3 billion** from roughly 300 ultra‑rich donors, many of whom supported candidates opposing wealth taxes, including former President Donald Trump.The war in Iran has further inflamed resentment, with the United States spending **$11.3 billion** in the first week of bombardment—far exceeding the annual budgets of agencies such as the CDC, EPA and the National Cancer Institute.Local victories are feeding the momentum. New York City’s mayoral race saw Zohran Mamdani win on a platform that includes taxing the rich to fund affordable housing, groceries and transit. Councilmember Chi Ossé led a 1,500‑person march to the state capitol, urging Governor Kathy Hochul to permit a city‑level millionaire tax, a move that now has backing from some state Democrats.Beyond New York, states like Rhode Island, Hawaii, Pennsylvania, Virginia, Illinois and New Mexico are debating various wealth‑tax mechanisms, including the popular “mansion tax” on high‑value home sales. Currently, **17 localities** have adopted such taxes, most passed between 2018 and 2023.California’s gubernatorial race has become a flashpoint. Billionaire‑backed candidates Matt Mahan and Tom Steyer are vying to replace Governor Gavin Newsom, with the tech elite—such as Sergey Brin and Joe Lonsdale—pouring money into campaigns opposing the billionaire tax. Of the 30 billionaires who have contributed to the race, **25 supported Mahan**, who has positioned himself as a staunch anti‑tax candidate.For Sanchez, the stakes are personal. The proposed tax seeks to replace **$100 billion** in federal health‑care funding cut by Trump’s “One Big Beautiful Bill Act,” which threatens hospital closures and layoffs in the nation’s fourth‑largest economy. She aims to collect **875,000 signatures** by late June to secure the initiative on the November ballot.“It’s creating a network of groups all working toward a common good,” Sanchez says, reflecting a broader sentiment that collective action could finally translate the public’s demand for fiscal fairness into concrete policy.
#california #seiu #oxfam
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World Economy Apr 03, 2026

How a Family Secured a Refund After a Care Home Refused to Return Prepaid Fees

A grieving family exposed a common practice among profit‑driven care homes: denying refunds for pre…
When a loved one passes away while a care home still holds prepaid weeks, many families are told that the provider’s "policy" does not allow refunds. In one recent case, a family challenged this stance, discovered that the contract actually obligated the home to return the unused fees, and successfully secured a refund. The experience underscores a wider issue: care‑home operators often withhold money from bereaved families, banking on their grief and lack of legal knowledge. The author, forewarned by similar reports, enlisted a family lawyer who identified the contractual breach and drafted a decisive email that compelled the provider to comply. Importantly, the complaint was not about the quality of care. The writer notes a clear separation between the compassionate on‑site staff and the profit‑focused head office, suggesting that the latter may deliberately adopt a “no‑refund” stance as a revenue‑preserving tactic. Historically, the practice traces back to the privatisation of care homes under Margaret Thatcher. The original promise was that market competition would increase choice for residents while lowering public spending. In reality, the economics of private care demand near‑full occupancy to stay profitable, forcing operators to raise prices when referrals dip. This creates a paradox: the need for vacant beds to offer choice clashes with the profit motive to maximise occupancy, ultimately undermining the policy’s goals. For families navigating this landscape, the lesson is clear: scrutinise contracts and seek legal advice before accepting a provider’s blanket “no‑refund” policy. A vigilant approach can turn a potentially lost sum into a reclaimed right, and may pressure care‑home chains to rethink opaque refund practices.
#care #home #people
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Tech Apr 03, 2026

UKRI mandates sweeping overhaul of Alan Turing Institute, appoints security‑focused chief to pivot AI research toward defence

The UK Research and Innovation (UKRI) body has warned the Alan Turing Institute that its current st…
The UK’s premier AI research centre, the Alan Turing Institute, has been instructed by its chief public funder, UK Research and Innovation (UKRI), to implement significant organisational changes. The directive follows a UKRI review that found the institute’s strategic alignment and value for money "not yet satisfactory".UKRI, which granted the institute a £100 million, five‑year funding package in 2024 and remains its largest single source of finance, said the review highlighted strong scientific foundations but a lack of clear strategic focus and delivery.Last summer, the government signalled that the institute must undergo a strategic overhaul, urging a shift toward defence and national security while downgrading work on health and the environment—previously two of its three core pillars.Leadership turbulence has accelerated the changes. Chief Executive Jean Innes resigned in September after staff unrest, and chair Doug Gurr stepped down this week to take up a permanent role at the UK competition watchdog.UKRI’s AI programme overseer, Prof. Charlotte Deane, stressed that achieving the UK’s AI ambitions requires institutions that are “focused, effective and aligned to national need.” She added that the review recognises the institute’s value but calls for significant change in several areas.To execute the recommendations, UKRI will work with the institute’s newly appointed chief executive, George Williamson, who comes from a government post centred on national security. The plan includes strengthening governance and placing defence and security at the core of the institute’s mission.The Alan Turing Institute collaborates with universities, private firms and government bodies, while UKRI invests £8 billion annually in UK research and innovation. A spokesperson for the institute acknowledged recent improvements in focus and governance but said it must move “faster and further.”“Working with funders and partners, we will be even more ambitious about the role we can play for the UK, and we welcome the confirmation of our clear, single‑purpose mission with national resilience, security and defence at its core,” the institute said.
#UK Research and Innovation #Alan Turing Institute #Artificial Intelligence
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Politics Apr 03, 2026

Labour Challenges Nigel Farage Over Private Jet Trip Costs to Maldives

Labour has questioned Nigel Farage's claim that a private jet trip to the Maldives cost £25,000, ci…
Labour has challenged Nigel Farage over the cost of his private jet trip to the Maldives, questioning his claim that it cost as little as £25,000. Farage, the leader of Reform UK, initially recorded the two-day trip as costing £12,500, funded by Thailand-based Reform megadonor Christopher Harborne, before later upgrading the cost to £25,000. The Labour Party's chair, Anna Turley, wrote to Farage arguing that chartering a private jet of a similar size would cost many times more than the sum declared. According to publicly available flight logs, the 11,000-mile round trip lasted just over 23 hours, using a model of plane that is currently advertised on multiple private jet websites as costing at least $11,500 (£8,500) per hour to charter. Turley highlighted that the plane's ownership is linked to Harborne, who has given the party more than £12m. She asked Farage to clarify how he valued the cost of the flight, which did not end in him reaching the Chagos Islands, as he did not have permission. Farage has described the visit as a "humanitarian mission", saying he undertook the trip to highlight the plight of the Chagossians, whose families were removed from the islands in the 1960s and are seeking to return. The trip has sparked controversy over the valuation of the private jet donation and Farage's attempts to reach the Chagos Islands, which are subject to a UK government decision to hand sovereignty to Mauritius.
#Nigel Farage #Labour Party #Maldives
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Technology Apr 03, 2026

Lost 1965 Doctor Who Episodes Uncovered and Released

Two long-lost episodes of Doctor Who from 1965 have been discovered in a private film collection an…
Two long-lost episodes of Doctor Who from the William Hartnell era, which had not been seen since 1965, have been released after being discovered in a private film collection. The episodes, 'The Nightmare Begins' and 'Devil’s Planet', are parts one and three of a mostly lost 12-part adventure called The Daleks’ Master Plan, written by Terry Nation, the creator of the Daleks, and broadcast as part of the third series of Doctor Who in November 1965.The episodes feature Peter Purves as the Doctor’s companion, Stephen. They were recovered by Film is Fabulous, a charitable trust dedicated to securing and preserving private film collections. The original 16mm telerecordings of the two Dalek episodes have been restored and made available on iPlayer in the UK.This discovery marks a significant milestone for fans, as it includes the first appearance of Nicholas Courtney in the show, playing Bret Vyon. Courtney later became a regular character, playing Alistair Gordon Lethbridge-Stewart, known as the Brigadier of Unit. 95 episodes of Doctor Who from the 1960s remain missing from the archives, having been wiped or junked by the BBC during the 1970s.
#episodes #doctor #who
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Politics Apr 03, 2026

National Capital Planning Commission greenlights Trump’s $400 million White House ballroom amid legal showdown

The National Capital Planning Commission approved President Donald Trump’s plan to construct a 90,0…
The 12‑member National Capital Planning Commission, the agency that reviews construction on federal sites in Washington, D.C., voted on Thursday to approve President Donald Trump’s proposal for a massive ballroom at the White House. The project envisions a 90,000‑square‑foot (8,400‑square‑metre) space on the site of the East Wing, which Trump ordered demolished in October. Commission chair Will Scharf, a former personal lawyer to the president, said the ballroom could eventually be regarded as a "national treasure" comparable to other iconic White House components. However, the approval comes at a time when a U.S. District Judge has blocked further work pending explicit congressional authorization. Judge Richard Leon warned that while the president is the steward of the White House for future First Families, he is not its owner, emphasizing that major construction projects require legislative consent. Trump responded on social media, insisting the ballroom is funded by private donations and that past White House projects never needed congressional approval. Financially, the ballroom’s estimated cost has ballooned to roughly $400 million, double the $200 million figure cited by the White House in July 2025. Trump has pledged to complete the venue before the end of his term in early 2029, relying on contributions from wealthy donors—a point critics argue could create undue influence over the administration. Public sentiment appears overwhelmingly negative. Democracy advocate Jon Golinger of Public Citizen remarked, "The American people have weighed in on this project, and they hate it." The commission’s vote was delayed from March after a surge of public comments, the majority of which opposed the construction. Despite the commission’s endorsement, the ballroom’s future remains uncertain. The judge’s ruling underscores that without a congressional green light, the project cannot legally move forward, setting the stage for a continued clash between the White House, lawmakers, and the public over the use of the nation’s most symbolic residence.
#National Capital Planning Commission #Donald Trump #White House
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News Apr 03, 2026

Uganda Condemns US Deportation of 12 Asylum Seekers in 'Undignified' Deal

Legal groups in Uganda have condemned the deportation of 12 asylum seekers from the US to Uganda, c…
Legal groups in Uganda have strongly condemned the arrival of a dozen deportees from the United States, calling the deportation process 'undignified, harrowing and dehumanising'. The Uganda Law Society and the East Africa Law Society have taken the matter to court, seeking relief to halt what they describe as 'patent international illegality'.The deportation marks the first confirmed instance of deportees being transferred from the US to Uganda. The 12 individuals reportedly landed at Entebbe International Airport by private aircraft. No identifying information about the deportees has been provided.The deportation is part of President Donald Trump's efforts to offload immigrants to 'third countries' where they have no personal connections. Uganda is one of several countries that have agreed to accept deported foreigners, including Equatorial Guinea, Ghana, Rwanda, Eswatini, and South Sudan.The deal with Uganda was confirmed by the country's Ministry of Foreign Affairs last August, stating it was a 'temporary arrangement' with priority given to deportees from other African countries. Unaccompanied children and people with criminal records are excluded from the deal.Critics have raised concerns about the safety of countries receiving US deportees, citing human rights abuses in Uganda. The US has previously criticised Uganda for 'significant human rights abuses', including extrajudicial killings, life-threatening prison conditions, and torture.The Trump administration has defended the deportations as legal under the US Immigration and Nationality Act, citing diplomatic assurances from 'third countries' that deportees would not face persecution. However, the policy has faced numerous legal challenges, with concerns about immigrants' due process rights.
#uganda #countries #deportees
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