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Business Apr 18, 2026

Shipping Firms Cautious on Hormuz Strait Transit After Iran's Announcement

Shipping companies are cautiously welcoming Iran's announcement that the Strait of Hormuz is open t…
Iran's Foreign Minister Abbas Araghchi announced on Friday that the Strait of Hormuz is open to all commercial vessels during a 10-day Lebanon ceasefire accord. This led to a fall in oil and other commodity prices, while stock markets rose. However, shipping companies are seeking clarifications on safety and security before transiting the strait. The Norwegian Shipowners' Association and shipping association BIMCO have expressed concerns about the presence of mines and Iranian conditions for transit. The International Maritime Organization is verifying Iran's announcement to ensure compliance with freedom of navigation for all merchant vessels and secure passage. Transit would be restricted to lanes deemed safe by Iran, and military vessels are still prohibited. Shipping companies such as Hapag-Lloyd and Maersk are closely monitoring the situation and assessing risks before making a decision. The US Navy has also issued an advisory warning of the threat posed by mines in parts of the strait. The Strait of Hormuz is one of the world's most important maritime chokepoints, and any disruption can have significant impacts on global trade and economy.
#Strait of Hormuz #Iran #Maersk
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Politics Apr 17, 2026

Russia Warns Europe Over Ukraine's Long-Range Strikes on Oil Infrastructure

Ukraine's recent long-range strikes on Russian oil and gas infrastructure have prompted Russia to i…
Ukraine has significantly damaged or destroyed a substantial amount of Russian oil and gas infrastructure over the past two weeks. This has led Russia to warn European countries and industries about funding Ukraine's long-range drone production, citing a potential escalation of the military and political situation in Europe. Russia's defence ministry stated that European leaders' decisions to support Ukraine's drone production are 'deliberate steps leading to a sharp escalation of the military and political situation on the entire European continent.' The ministry also warned of 'unpredictable consequences' and accused European leaders of 'dragging their countries into a war with Russia.' The warning came after Ukraine secured new agreements with European defence companies this week. Notably, Germany agreed to invest 300 million euros ($355m) in Ukraine's long-range strike capability and will separately invest in 5,000 mid-range attack drones. Norway also signed an agreement with Ukraine for joint drone production and donated 560 million euros ($661.5m) to support Ukrainian front lines. Ukraine's strikes have targeted various Russian oil infrastructure, including drilling platforms, pipelines, pumping stations, offloading terminals, and refineries. These strikes have been confirmed by geolocated video footage or Russian officials. In the past week alone, Ukraine struck two drilling platforms in the northern Caspian Sea, two oil pumping stations, an oil depot, an ammonia plant, a petrochemical plant, and an oil export terminal and refinery. Russia has missed out on $23bn windfall profit in March due to Ukraine's strikes, which have destroyed its ability to export at least 2 million barrels of oil a day. The strikes have hit a range of targets, causing significant financial losses for Russia. Ukrainian President Volodymyr Zelenskyy justified the attacks, stating that 'only significant financial losses force Russia to consider a scenario of abandoning this war.' The situation highlights the ongoing conflict between Ukraine and Russia, with European countries playing a crucial role in supporting Ukraine's military capabilities.
#Russia #Ukraine #European Union
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Economy Apr 17, 2026

UK Plans to Raise Windfall Tax on Low-Carbon Electricity Generators

The UK government is set to increase the windfall tax on low-carbon electricity generators to help …
UK Chancellor Rachel Reeves is poised to raise the government's windfall tax on low-carbon electricity generators to help limit household energy bills. The levy, introduced in 2022, targets excess profits made by owners of older renewable energy and nuclear plants.The chancellor is ready to hike the electricity generator levy, which currently stands at 45%, as electricity market prices soared following Russia's invasion of Ukraine. The increased tax will help shield consumer energy bills in the short term while the government consults on long-term plans to reform the wholesale market.The government is also expected to consult on plans to shift older, low-carbon projects onto newer set-price contracts, providing electricity at a guaranteed price. This move aims to weaken the link between gas market prices and electricity costs, which has led to a surge in electricity market prices across Europe.Executives across the industry have been informed to expect contact from officials on Monday to outline the government's determination to protect electricity costs from the surge in gas markets. The plans have already impacted shares in energy companies, with SSE falling over 6% and Centrica closing down 5% on Friday.The proposed reforms have sparked concerns within the industry, with some viewing them as a fundamental reform of energy markets. The government is considering radical proposals, including removing gas plants from the market and holding them in strategic reserve.
#UK government #Rachel Reeves #windfall tax
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World Economy Apr 17, 2026

Over 1,000 Kenyan Workers Laid Off After Meta Contract Termination

More than 1,000 low-paid workers in Kenya have been abruptly laid off by Sama, an outsourcing compa…
Over 1,000 workers in Kenya have been laid off by Sama, a company contracted by Meta for content moderation and AI training work. The layoffs came after Meta terminated its contract with Sama, citing that the company did not meet its standards.The sacked workers, many involved in AI training, were given only six days' notice, according to the Oversight Lab, an organization advocating for fair regulation and deployment of technology across Africa. The lab is advising the workers on legal options.This move has been criticized by activists, who argue that it exposes the precariousness of tech jobs in the global south. Kauna Malgwi, a former worker at Sama, stated that "this issue is not confined to one company or contract. It shows how the global AI industry is shaped. Power sits with large technology companies. Risk flows downward, affecting outsourced workers, often in the global south, who have the least protection and highest exposure."Sama has stated that it recognizes the impact on its team and is supporting affected employees with care and respect, highlighting that its teams receive living wages and full benefits.The layoffs have been described as devastating and shocking by the Oversight Lab, which called for recognition that current strategies are harming youth, hurting the economy, and not advancing Kenya's participation in the AI ecosystem.
#meta #kenya #outsourcing
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Technology Apr 17, 2026

Elderly Japanese People Mastering Smartphones to Stay Connected

In Tokyo, a group of elderly Japanese people are attending a beginner's smartphone class to learn h…
In Tokyo, a group of elderly Japanese people are determined to master smartphones and stay connected in a 4G and 5G world. The class, led by Yasushi Nishioka, a retired programmer, teaches students the basics of smartphone use, including turning their phones on and off, controlling volume, and using cashless payments and QR codes.The students, most of whom are in their 70s, say they are intimidated by their devices, but are eager to learn and not be left behind in an increasingly digital world. Japan's 3G network has been shut down, and telecom companies are encouraging subscribers to switch to 4G and 5G networks.Nishioka guides his students through the basics, including health trackers and weather forecasts, and promises that future sessions will cover entertainment, social media, and photo and video content. The students also express concerns about security, a growing problem in Japan, and Nishioka shares an app that filters out suspicious contacts.The participants' reasons for taking the plunge aren't wildly different to those that keep younger people umbilically attached to their devices: reserving tickets, joining WhatsApp groups, learning a foreign language, and making travel plans. As Nishioka notes, one of the biggest challenges for users of all ages is managing their passwords.
#japan #smartphones #elderly
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Business Apr 17, 2026

Richard Desmond's £1.3bn Damages Claim Over National Lottery Licence Rejected

Media tycoon Richard Desmond has lost his claim for up to £1.3bn in damages against the Gambling Co…
Richard Desmond, the media tycoon and former proprietor of the Daily Express and Channel 5, has lost his claim for up to £1.3bn in damages against the Gambling Commission. The claim was related to the regulator's decision not to award him the 10-year licence to run the national lottery.Desmond's companies, Northern & Shell investment company and the New Lottery Company, had launched a legal action against the Gambling Commission in 2022, arguing that the commission made 'manifest errors' in the process governing the UK's largest public sector contract, worth £6.5bn. The legal process was lengthy, with Desmond's costs estimated to have reached £55m by May last year.The media mogul claimed the commission's mistakes caused him to incur £17.5m of needless costs in pursuing his bid. However, he was also seeking up to £1.3bn in damages to reflect hypothetical lost earnings from running the lottery.The licence was ultimately awarded to Allwyn, a new vehicle owned by Czech billionaire Karel Komárek, which has been running the draw since 2024. On Friday, Mrs Justice Smith dismissed Desmond's claim, stating that the claimants had failed to make out any case of 'manifest error' on the part of the commission.The competition for the award of the fourth licence was found to have reached a lawful outcome. Desmond had previously failed with a separate claim that Allwyn had received an unlawful £70m marketing subsidy from the Gambling Commission.
#Richard Desmond #Gambling Commission #National Lottery licence
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Technology Apr 17, 2026

UK Government Invests £500m in AI Fund to Boost British Tech Sector

The UK government has announced its first investment in a £500m sovereign AI fund, with Technology …
The UK government has taken a significant step in boosting its tech sector by announcing its first investment in a £500m sovereign AI fund. Technology Secretary Liz Kendall has urged the public to 'make AI work for Britain', despite concerns about job disruption and cybersecurity risks.Kendall acknowledged that 'people are worried about the risks and what it means for their jobs', but emphasized that AI entrepreneurs believe they can create new employment opportunities. The government has taken an undisclosed shareholding in London-based Callosum, a company that helps different types of computer chips work together efficiently to train and operate AI models.The investment is part of a broader effort to support national AI champions and ensure that internationally competitive companies can start, scale, and stay in Britain. The sovereign AI unit, designed to act like a venture capital fund, has also provided access to a network of government-funded supercomputers to help six UK companies develop AI models.These companies include Prima Mente, which is building 'biological foundation models' to tackle diseases like Alzheimer's; Cursive, a company developing autonomous AI agents founded by Google DeepMind alumni; and Odyssey, which develops 'world models', an approach to AI where systems interact with a convincing simulation of the real world.Rachel Reeves, the chancellor, said that by supporting national AI champions, the UK could ensure that internationally competitive companies can 'start, scale and stay here in Britain'. The investment is seen as a key step in establishing the UK as a leader in the AI sector.
#callosum #cursive #odyssey
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News Apr 16, 2026

Pope Leo Condemns 'Tyrants' Amid Global Conflict and Trump's Criticism

Pope Leo XIV criticizes a 'handful of tyrants' exploiting and waging war globally, amid his visit t…
Pope Leo XIV has strongly denounced a 'handful of tyrants' ravaging the Earth with war and exploitation, while preaching a message of peace in Cameroon, a region plagued by a longstanding separatist conflict. During his visit to the western Cameroon city of Bamenda, Leo presided over a peace meeting involving leaders from various faiths, aiming to highlight the interfaith movement seeking to end the conflict and support its victims. In his remarks at the St Joseph Cathedral, Leo praised the peace movement and warned against using religion to justify conflicts. He emphasized that 'Blessed are the peacemakers!' but expressed concern over those who manipulate religion for military, economic, or political gain. The pope called for a 'decisive change of course' away from conflict and exploitation, stating, 'The world is being ravaged by a handful of tyrants, yet it is held together by a multitude of supportive brothers and sisters!' His comments come amid an ongoing feud with US President Donald Trump, who recently attacked the pope on social media. The conflict in Cameroon has resulted in over 6,000 deaths and displaced more than 600,000 people since 2017. Cameroon, rich in natural resources such as oil, natural gas, cobalt, and gold, has seen its extraction industry dominated by French, English, and increasingly Chinese companies. The pope criticized the exploitation of these resources, saying, 'Those who rob your land of its resources generally invest much of the profit in weapons, thus perpetuating an endless cycle of destabilisation and death.' Despite a temporary pause in fighting by separatist fighters to ensure the pope's safe passage, the conflict shows no signs of resolution, with peace talks stalled due to mutual accusations of bad faith.
#pope #leo #cameroon
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News Apr 16, 2026

South Africa Sends Former Apartheid Negotiator Roelf Meyer to Washington in Bid to Repair Trump‑Era Rift

President Cyril Ramaphosa has appointed 78‑year‑old former apartheid‑era minister Roelf Meyer as So…
South Africa announced the appointment of Roelf Meyer, a 78‑year‑old former minister and chief negotiator for the apartheid government, as its new ambassador to the United States. The decision, made by President Cyril Ramaphosa, is intended to heal the diplomatic breach that widened after the United States, under President Donald Trump, expelled the previous envoy, Ebrahim Rasool, in March 2025. Meyer replaces Rasool, who was dismissed after publicly labeling Trump’s global movement as “white supremacist.” Since then, Pretoria has lacked formal representation in Washington, a gap the government hopes to close with Meyer’s extensive negotiation experience. The bilateral relationship has deteriorated since Trump assumed office in January 2024, with the U.S. president repeatedly criticising South Africa’s affirmative‑action policies and falsely alleging a “white genocide.” Trump’s administration even offered expedited U.S. citizenship to Afrikaners claiming persecution, while freezing foreign assistance over a land‑ownership law that mandates at least 30 % Black participation in companies. South Africa’s recent actions have further strained ties: filing a genocide case against Israel at the International Court of Justice and inviting Iran to a BRICS naval exercise off its coast, prompting Washington to accuse Pretoria of “cosying up to Iran.” The BRICS grouping, of which South Africa is a founding member, is viewed by Trump as an economic challenge to U.S. dominance.In a statement, Ramaphosa described Meyer as “a very loyal and patriotic South African” who is “more than qualified” to re‑calibrate relations with the United States and engage with stakeholders on Capitol Hill and across federal agencies. Meyer, who leads the global consultancy In Transformation Initiative, has a long‑standing record in peace negotiations across Northern Ireland, Sri Lanka, Rwanda, Burundi, Kosovo, Bolivia, the Basque region and the Middle East. Domestically, he was the chief negotiator for the white‑minority government during the early‑1990s talks that ended apartheid, later serving as Minister of Constitutional Development under Nelson Mandela and co‑founding the United Democratic Movement before joining the African National Congress in 2006. Critics, notably the Economic Freedom Fighters (EFF), argue that appointing a former apartheid official signals a willingness to appease Trump’s “white supremacist whims” and that Meyer’s age limits opportunities for younger diplomats. The EFF highlighted his past role in the Department of Law and Order, which enforced apartheid repression. Despite the political controversy, South African analysts stress that the priority for the new ambassador is economic. U.S.–South Africa bilateral trade stands at $26 billion, making Washington Pretoria’s second‑largest trading partner after China. The focus, according to researcher Thembisa Fakude, will be on attracting U.S. investment and creating jobs rather than merely countering Trump’s rhetoric. When Ramaphosa visited the White House in May 2025, he included two white South African golfers in the delegation to soften Trump’s concerns about alleged persecution of white farmers. However, Fakude notes that most South Africans are indifferent to the “artificial” accusations and are more interested in tangible economic benefits. The appointment of Meyer thus represents a calculated diplomatic gamble: leveraging his negotiation pedigree to restore confidence, while navigating domestic criticism and a volatile U.S. political climate.
#south #africa #meyer
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