Canada’s Teck Resources has rejected a hostile bid from Glencore that would have created a £95bn natural resources giant and resulted in a vast restructuring of the FTSE 100 mining company. The unsolicited offer represents the biggest acquisition attempt by Switzerland-based Glencore — the world’s most profitable coal miner and a major commodities trading house
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Microsoft-backed OpenAI and Google have both released artificial intelligence-based chatbots in recent weeks. Their respective conversational engines — ChatGPT Plus and Bard — differ in the way they respond to complex queries, ingest text and come up with creative answers. The chatbots are trained to generate their responses using written data from the internet, like
In a crowded Kyiv restaurant, phones begin to vibrate. It is a missile alert. Residents are urged to go to bomb shelters. But no one moves a muscle — apart from a waiter who ambles over to ask if anybody would like dessert. That incident last week captured the strange mixture of normalcy and wartime
Russian authorities have detained a woman in St Petersburg on suspicion of orchestrating an explosion in a café in the centre of the city that killed a prominent pro-war blogger. Maxim Fomin, known publicly as Vladlen Tatarsky who was one of the most vocal supporters of Russia’s invasion of Ukraine, was killed on Sunday afternoon
Oil prices jumped and Goldman Sachs raised its year-end forecast for Brent crude after Opec+ nations announced surprise production cuts of more than 1mn barrels a day in the face of weaker demand. International oil benchmark Brent crude rose as much as 8.4 per cent to a high of $86.44 a barrel in early Asian
EY has been banned from taking on listed companies as new audit clients in Germany for two years over flawed work for disgraced payments company Wirecard, in a landmark ruling by the country’s audit watchdog Apas, according to people familiar with the matter. The Big Four firm and five current and former employees have also
Russia’s security services are confiscating the passports of senior officials and state company executives to prevent overseas travel, as paranoia over leaks and defections spreads through Vladimir Putin’s regime. With Russia’s invasion of Ukraine still raging, security officers have tightened up travel requirements within the state sector, demanding the surrender of travel documents from some
As Donald Trump prepares to turn himself in over alleged hush money payments, the former president is the focus of other state and federal investigations which pose even more serious legal risks. Trump’s next set of legal problems could arrive in the state of Georgia, where Fani Willis, the Fulton county district attorney, is weighing
Credit default swaps are a form of insurance against bond defaults. In this story, they feature as instruments of deception rather than “weapons of mass destruction”, the label once applied to all derivatives by Warren Buffett. You can speculate about whether investors were deceived by their own instincts or other factors. This does not change
If you asked a few months ago where the next financial crisis might emanate from, most people probably wouldn’t have said regional banking. Rather, they might have guessed at the shadow banking sector, which has grown dramatically since the global financial crisis of 2008. It remains far less regulated than the traditional banking sector. When
Crude oil prices surged after Saudi Arabia and other members of the Opec+ group announced surprise production cuts of more than 1mn barrels a day on Sunday, putting Riyadh on a collision course with the US. Oil prices leapt by 8 per cent when trading opened in Asia on Monday morning following news of the
Finland’s centre-right opposition clinched victory in Sunday’s parliamentary elections, inflicting defeat on centre-left prime minister Sanna Marin. The National Coalition party, led by Petteri Orpo, was poised to come first with 48 seats, followed by the eurosceptic populist Finns party on 46, both notching up strong gains, with 99 per cent of the vote counted.
Tens of thousands of finance workers could be exempted from post-crisis rules which hold them personally accountable for failings on their watch as the UK government presses ahead with plans to boost the City of London’s competitiveness. The government vowed to overhaul the old system — known as the Senior Managers & Certification Regime —
One of Russia’s most influential pro-Kremlin war bloggers, Vladlen Tatarsky, was killed in a blast at a restaurant in St Petersburg on Sunday. The incident took place at around 6pm local time, in the centrally located Universitetskaya Embankment, according to the ministry of internal affairs, which confirmed Tatarsky’s death. St Petersburg governor Alexander Beglov said
Saudi Arabia and other members of the Opec+ group announced surprise oil production cuts totalling more than 1mn barrels a day, putting Riyadh on a collision course with the US as the kingdom attempts to boost prices amid fears of weaker demand. Saudi Arabia will implement a “voluntary cut” of 500,000 b/d, or just under
US secretary of state Antony Blinken demanded the immediate release of Wall Street Journal reporter Evan Gershkovich in a phone call with Russian foreign minister Sergei Lavrov on Sunday. “Secretary Blinken conveyed the United States’ grave concern over Russia’s unacceptable detention of a US citizen journalist. The secretary called for his immediate release,” State department
Iraqi officials in Baghdad and their counterparts in the Kurdistan Regional Government have reached a preliminary agreement to resume oil exports from the country’s north with a final agreement expected “within days”. The announcement by both governments on Sunday comes just over a week after Iraq said it had won a landmark arbitration case against
Donald Trump plans to deliver a speech after his arraignment on Tuesday as one of his lawyers said he will move to dismiss the hush money charges against him, telegraphing the ex-president’s early strategy. “I very much anticipate a motion to dismiss coming because there’s no law that fits this,” Joe Tacopina said on CNN’s
Canada’s natural resources minister has warned the US against waging a “carbon subsidy war” with its allies, saying the Biden administration’s $369bn clean energy package creates an “unlevel playing field” in global trade. Jonathan Wilkinson, a senior member of Justin Trudeau’s Liberal government, said Canada and Europe were seeking to “match” the US Inflation Reduction
The writer is a contributing columnist, based in Chicago “It’s wrong. Wrong! That district attorney should be disbarred.” Suzanne Windle, 64, voted for President Donald Trump in 2016 and 2020 and she leapt to his defence again, hours after he became the first ex-president in US history to face criminal indictment by Manhattan district attorney
UK home secretary Suella Braverman on Sunday insisted that fresh disruption at the Port of Dover was not a consequence of Brexit and would not be a regular occurrence for travellers, after hundreds of people attempting to cross the English Channel were forced to queue for hours. The port, which declared a critical incident on