Business

O2C Division Hit Hard By Rising Costs, Supply Chain Disruptions

US Treasury Secretary Scott Bessent announced the US will not renew a waiver allowing the purchase of Russian oil currently at sea. He also stated that another waiver for Iranian oil is “totally off the table.” This decision comes after a recent extension of the waiver for Russian oil, which was intended to stabilize global

The US has tightened its grip on Iran’s oil revenue by sanctioning a major Chinese refinery and numerous shipping entities involved in transporting Iranian crude. This move targets a “shadow network” and escalates pressure amid regional tensions. China has criticized the sanctions, urging an end to their political use and warning of harm to legitimate

Intel’s share price surged dramatically after exceeding first-quarter expectations, driven by strong demand in its Data Centre and AI division. This performance significantly boosts the US administration’s investment, which acquired a stake during a period of financial strain. Intel’s stock has now risen nearly 300% since the government’s intervention.