Business

Reports say the Palau-flagged tanker Elbus was struck by a suspected aerial drone about 30 miles off Turkey and was towed into Inebolu port for inspection; no crew injuries were reported.

The U.S. Supreme Court is deciding whether President Trump can use the International Emergency Economic Powers Act to impose tariffs without congressional approval; justices showed skepticism during November arguments and a decision could come as early as Friday.

Switzerland's annual inflation rose to 0.1% in December from 0% in November, matching analysts' expectations and staying at the lower end of the Swiss National Bank's 0–2% target range.

Five trade unions have reported McDonald's to the UK's National Contact Point alleging repeated harassment of mostly teenage staff; the NCP has said the complaint warrants further consideration and will offer voluntary mediation.

Britain's Competition and Markets Authority has fast-tracked an in-depth review of Associated British Foods' planned purchase of the Hovis bread brand, and ABF said it will work constructively with the regulator.

Nigeria's ICPC said it will continue investigating former downstream oil regulator Farouk Ahmed after Aliko Dangote's lawyers withdrew the petition that prompted the probe, and said another agency has taken over parts of the case.

The UAE recalled certain Nestle infant formula batches and Qatar's health ministry warned consumers after Nestle said it removed specific SMA and follow-on formula batches over a possible cereulide toxin.

Halifax reports average UK house prices fell 0.6% in December to £297,755, the lowest since June 2025, while annual growth slowed to 0.3%.

An analysis by Urgewald estimates Russia earned about €7.2bn from Yamal LNG exported to the EU in 2025. The EU has pledged to ban Russian LNG by 2027, yet shipments to European ports rose and the bloc's share of Yamal exports increased to 76.1%.

M&S reported stronger Christmas food sales while clothing sales fell, which the chief executive linked to the lingering impact of last year's cyber-attack and weaker high-street footfall.

Marks & Spencer reported group sales of £4.99 billion for the 13 weeks to Dec. 27, 2025, with food sales up 6.6% and a record number of store customers; the company maintained its full-year guidance and plans further reshaping in 2026.

Reuters reports that U.S. moves involving Venezuela's Nicolás Maduro and prior support for Argentina's Javier Milei have coincided with a regional shift toward right-leaning governments, and investors have been adding exposure to Latin American assets.

Protesting French farmers drove tractors into central Paris and reached the Eiffel Tower; the action was organised by the Coordination Rurale union amid anger over an EU‑Mercosur trade deal and government handling of a cattle disease.

The Toll Bar in Stoney Middleton, Derbyshire, which began frying in 1926 and operates from a Grade-II listed building, is marking its centenary; the family owners say rising costs for energy, potatoes and fish are creating uncertainty about the chippy's future.

The article mentions ASX Limited and reports that Goldman Sachs has upgraded the company's rating from Sell to Neutral, saying ASX's first-half 2026 results look "relatively de-risked" while noting some medium-term and regulatory risks.

Helen Cooke, founder and chief executive of MyPlus, said she felt proud and humbled after being appointed a CBE; MyPlus helps disabled people into work and provides inclusive careers advice to students and employers.

A federal law signed last year shifts more program responsibilities and costs to states, affecting Medicaid, SNAP and some tax rules. State legislatures will begin considering these changes when they convene in January.

Chinese AI startups Zhipu and MiniMax report large losses and are pursuing Hong Kong listings while private funding has weakened and competition is intense.

China's refined copper exports hit record levels in 2025 as traders shipped metal from bonded warehouses to meet demand for U.S. delivery, and a possible U.S. tariff decision has been deferred until June.

Securities and Exchange Board of India (SEBI) issued a show-cause notice to Bank of America's India securities unit over a March 2024 share sale, alleging breaches of insider trading norms and merchant banking rules; the bank has filed an application to settle the charges without admitting guilt and that application is under review.

The rupee is expected to open largely unchanged after settling 0.12% higher at 90.1650, with market participants citing possible Reserve Bank of India support amid softer Asian currencies.

Cambodia says it arrested Chen Zhi and extradited him to China after months of cooperation with Chinese investigators; he faces U.S. indictments alleging large-scale online fraud and money‑laundering.

November annual inflation fell to 3.4% from 3.8%, with monthly prices broadly flat and the trimmed mean also down; electricity rebates and rents were key contributors. The Reserve Bank is unlikely to cut rates next month, and attention will turn to the CPI release on 28 February covering the December quarter.

Reuters reports the U.S. is weighing steps to exert control over Venezuela's state oil company PDVSA, and PDVSA says it is progressing in negotiations with the United States.

Crude oil futures slipped and Asian shares edged down as markets reacted to U.S. comments about Venezuelan oil and to rising geopolitical tensions; investors are awaiting U.S. employment data later this week.

A large fire broke out at a two-storey factory unit on the Tyseley Industrial Estate in Birmingham on January 7, and West Midlands Fire Service said crews remain on scene with the incident described as likely to be protracted.

Luke Littler has bought a five-bedroom house on the outskirts of Warrington, reportedly costing around £1 million, and sources say he intends it as a home for his parents. The purchase follows his recent £1 million prize at the World Darts Championship.

A U.S. immigration agent shot and killed a 37-year-old woman in her car in Minneapolis on January 7; Homeland Security said the officer acted in self-defense, which Mayor Jacob Frey rejects.

Sinolam filed a $4 billion lawsuit in Virginia accusing AES and InterEnergy of an unlawful campaign to monopolize Panama's LNG-to-power market; AES says the claim lacks merit and will defend itself.

Block Communications said the Pittsburgh Post-Gazette will cease publication on May 3, citing sustained financial losses. The announcement coincided with the U.S. Supreme Court declining an emergency appeal tied to a National Labor Relations Board order.