bbc_business
donald trump has called jerome powell a "numbskull", "moron" and "too stupid" — the latest in a long line of insults between the president and the fed chair. it's one of the most fractious relationships between a us president and a central banker
bbc_business
oil jumped to $115 a barrel on wednesday after reports that the us is preparing for an 'extended' blockade of iran. brent crude closed just over $110 on tuesday evening, then hit $115 before easing to $114.37 by midday bst. the wall street journal reported that trump
bbc_business
the united arab emirates is leaving opec after nearly 60 years as a member. the decision breaks a long-standing alliance that has shaped global oil policy since the 1960s. the uae is one of opec's largest producers, with capacity to pump around 4 million barrels per day. its
bbc_business
a fresh financial crisis may be coming, but it won't look like 2008. bobby seagull, a former lehman brothers trader, showed up for his last day at canary wharf on 15 september 2008 with a shopping trolley and emptied his £300 vending machine card on chocolates. that day,
bbc_business
the us-iran crisis has pushed global fuel prices higher, and china sees an opening for its ev industry. chinese automakers are pitching everything from flying cars to 5-minute battery charging as alternatives to oil dependence. iran's situation makes the pitch more urgent — countries scrambling for fuel may look
bbc_business
elon musk took the stand in oakland on tuesday, saying his lawsuit against openai is about protecting charitable giving. "it's not okay to steal a charity," he said. "if it's okay to loot a charity, the entire foundation of charitable giving will be
bbc_business
the uae abruptly left opec, ending a membership that predates the country itself. the emiratis joined before becoming a nation in 1971. opec quotas limited their production to 3-3.5 million barrels per day, and they felt they were making disproportionate revenue sacrifices. the uae had the second-highest spare production
bbc_business
the uae is leaving opec and opec+ next month after nearly 60 years of membership. the gulf state said the exit would give it more flexibility to meet growing global energy demand, following recent investments to boost production capacity. one analyst called it "the beginning of the end of
bbc_business
the musk-altman feud moves from x posts to a federal courtroom in oakland starting tuesday. a month-long trial will decide musk's claim that altman swindled him out of millions and betrayed openai's original non-profit mission. musk and altman co-founded openai in 2015, but musk left in
bbc_business
bp profits more than doubled in the first quarter to $3.2bn, driven by a surge in oil prices after the iran war began on 28 february. the result beat analyst expectations and was more than double the $1.38bn from the same period last year. brent crude is now
bbc_business
prada launched a limited-edition line of sandals inspired by india's traditional kolhapuri sandals, nearly a year after facing backlash for cultural appropriation. the italian brand was criticized last june for showing similar designs at a milan fashion show without crediting their indian origins. the new sandals are priced
bbc_business
the government moved up the cost of living payment to july, instead of the usual autumn schedule. the payment is meant to help households with rising prices. no specific amount or eligibility details were given in the announcement. source: bbc_business sentiment: +0.20 · impact: 0.30