EU countries agree to keep compensating passengers for flight delays
European Union countries have agreed to maintain the current three-hour threshold for flight delay compensation in the bloc’s upcoming update to air...
Russia, the world's second-largest oil exporter, on Wednesday imposed restrictions on another major oil export route, suspending a mooring at the Black Sea port of Novorossiisk only a day after restricting loadings from a key Caspian pipeline.
Russia produces about 9 million barrels of oil a day, or just under a 10th of global production. Its ports also ship oil from neighbouring Kazakhstan.
The restrictions were imposed as U.S. President Donald Trump has said he is unhappy with Russia and the rate of progress in peace talks with Ukraine, and threatened to impose secondary tariffs on buyers of Russian oil.
Russia's oil pipeline monopoly Transneft said it had suspended a mooring at Novorossiisk for 90 days after a snap inspection by a transport watchdog.
The Novorossiisk Commercial Sea Port (NCSP) is one of Russia's largest export outlets and the closure of one mooring is unlikely to affect its operations significantly.
"A temporary ban on operations has been imposed on oil loading berth 8. NCSP has been ordered to eliminate all identified violations by June 30, 2025," Transneft said.
Industry sources said that Berth 8 at the Sheskharis terminal handles low-sulphur diesel tankers with a deadweight of around 7,000 metric tons, mainly carrying exports to Turkey and Georgia.
An industry source also said that the berth is used to deal with small-scale vessels of up to 10,000 tons of oil products.
LSEG and industry sources' data showed that the berth handled around 100,000 tons of diesel in January-March.
Two of three moorings at a nearby terminal of the Caspian Pipeline Consortium, in which U.S. oil majors Chevron and Exxon Mobilhold stakes, were closed on Monday following the regulator's checks.
Kremlin spokesman Dmitry Peskov told reporters on a conference call that the restrictions on CPC are related to Ukrainian drone attacks on the infrastructure.
Ukraine accused Russia of launching new attacks against its energy facilities.
Ukrainian President Volodymyr Zelenskiy said a Russian drone hit an energy substation in Sumy region and artillery fire damaged a power line in Dnipropetrovsk, cutting off electricity to nearly 4,000 consumers.
Oil exports via the CPC pipeline have been set at 1.7 million barrels per day, or around 6.5 million metric tons, for April.
CPC buyers have said they are waiting for the revised loading programme. Both Kazakhstan and Chevron said on Tuesday that the flows via the pipeline were not interrupted.
Mexico and South Africa meet in Thursday’s World Cup opener in Mexico City, with both teams approaching the match from very different positions but facing their own pressures.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
While France hosts next week’s Group of Seven summit, businesses in neighbouring Switzerland have already begun taking precautions, with many shops in Geneva boarded up ahead of a large anti-G7 demonstration expected on Sunday.
Formula 1 driver Pierre Gasly’s Monaco Grand Prix podium has been reinstated after Alpine successfully challenged his post-race penalties through a Right of Review request with the FIA.
At the start of 2026, something unusual happened in China's car market. BYD, the company that had spent years at the top of the domestic sales charts, was knocked off its perch by a rival.
Apple has unveiled a long-awaited upgrade to Siri, aiming to close the gap with technology rivals and emerging artificial intelligence firms in an increasingly competitive market.
ChatGPT maker OpenAI has confidentially filed for a U.S. initial public offering (IPO), the company said on Monday, joining rival Anthropic in a race to the stock market as investors seek exposure to the artificial intelligence boom.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
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