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The Latest Breaking News from Oil

Shell profits soar to record £7bn as energy crisis leaves families unable to heat homes

Energy giant Shell today reported record profits as oil and gas prices continue to skyrocket around the world. It comes as Boris Johnson continues to rule out a windfall tax on oil firms despite calls for one from opposition parties

Daily Mirror

Europeans weigh costs of cutting Russian energy over Ukraine

Rising energy prices in Europe are testing the resolve of those caught between a dependence on cheap Russian energy and their revulsion at Moscow’s war in Ukraine

The Independent UK

Bumper £7bn Shell profits fuel new windfall tax row

Huge profits announced thanks to soaring oil and gas prices amid calls for windfall tax

Evening Standard

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Asian stocks rise after Fed chair downplays bigger rate hike

Asian stock markets have followed Wall Street higher after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the U.S. central bank’s biggest increase in two decades

The Independent UK

Thursday briefing: What to look out for in today’s crucial votes across the UK

In today’s newsletter: As voters across the country head to the polls, much more is at stake than who collects the bins. Guardian correspondents share their conclusions from the campaign trail

The Guardian - UK

Goliath cement ship was in wrong steering mode during crash that sank Tasmanian tugs, report finds

An incorrect steering setting was selected on a cement carrier ship when it unexpectedly sped up and collided with two tugboats in Tasmania's north-west, causing millions of dollars worth of damage.

ABC News

Asian shares rise as US Federal Reserve strikes less hawkish tone

Rally comes after Fed Chair Jerome Powell says central bank not “actively considering” 0.75 percentage point increase.

Al Jazeera

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Jamie Laing to 'leave world in a better place' as he marks 10 years of vegan company

Jamie Laing launched Candy Kittens in 2012 and says he hopes his venture can help leave 'a lighter footprint on the earth' after cutting out certain ingredients

Daily Mirror

Live: Poland says more than €6 billion raised at Ukraine donor conference

An international donor conference collecting funds for Ukraine raised more than 6 billion euros to help the war-torn country, Poland said on Thursday, as fighting continued at a besieged steel plant in Ukraine's Mariupol despite a Russian pledge to open humanitarian corridors for civilians to flee. Follow FRANCE 24’s liveblog…

France 24

Russian strikes try to disrupt delivery of Western weapons

Russia moved to obstruct the flow of Western weapons to Ukraine by bombarding rail stations and other supply-line targets across the country

The Independent UK

Rising oil prices buy Iran time in nuclear talks, officials say

Emboldened by an oil price surge since Russia invaded Ukraine, Iran's clerical rulers are in no rush to revive a 2015 nuclear pact with world powers to ease sanctions on its energy-reliant economy, three officials familiar with Tehran's thinking said.

Reuters

Plastics-to-oil venture considering bid for former Anglesey Aluminium site after collapse of Orthios

b.grn Group Ltd has been formed by Parris Group and Sabien Technology Group, UK sales agent of Korean firm City Oil Field

Birmingham Post

Battles rage at Ukrainian plant as U.N. rushes to evacuate civilians

Scores of Ukrainians remained trapped on Thursday in a Mariupol steel works that has been rocked by heavy explosions as Russian forces fought for control of Ukraine's last stronghold in the ruined city and the United Nations rushed to evacuate civilians.

Reuters

Motormouth: Many ideas to keep squirrels away

Oh rats! Dear readers, please indulge me. My comments first, before the questions. Every spring I get numerous emails about squirrels, mice, groundhogs (they prefer to be called woodchucks), rabbits and unidentified chewing critters. And every year, when I answer one reader’s query, I get scads of suggested solutions —…

Tribune News Service

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WEKU

What Europe's ban of Russian oil could mean for energy markets – and your gas prices

The EU ban on Russian oil imports will likely lead to higher crude and gasoline prices, further upending energy markets.

Bangkok Post

Exxon cancels B330bn project

US oil and gas giant Exxon Mobil Corporation has scrapped its 330-billion-baht ethylene cracker and refinery expansion project in Chon Buri, but the decision will not affect the Eastern Economic Corridor (EEC) scheme, says a source at the Industrial Estate Authority of Thailand (IEAT) who requested anonymity.

ABC News

Federal Reserve hikes official interest rates by 0.5 per cent, ASX rises, Dow Jones jumps 900 points

The US Federal Reserve has increased official interest rates by 0.5 per cent and flagged that more such rises are likely. Meanwhile, the Australian market has followed Wall Street higher.

WEKU

Russia-Ukraine war: What happened today (May 4)

A roundup of key developments and the latest in-depth coverage of Russia's invasion of Ukraine.

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The Guardian - AU

Morning mail: One Nation pick draws ire, koala habitat row, Biden slams Trump supporters

Thursday: Party’s choice of a Melbourne candidate to represent a north Queensland city brings a chorus of condemnation. Plus: Australia’s best new songs

Benzinga

Marathon Oil: Q1 Earnings Insights

Marathon Oil (NYSE:MRO) reported its Q1 earnings results on Wednesday, May 4, 2022 at 04:15 PM. Here's what investors need to know about the announcement. Earnings Marathon Oil beat estimated earnings by 10.87%, reporting an EPS of $1.02 versus an estimate of $0.92.

The Independent UK

Fueled by momentum, families of hostages lobby White House

Relatives of American hostages and wrongful detainees are trying to get the Biden administration's attention in hopes of getting their loved ones home

The Independent UK

Ukraine news – live: Mariupol theatre bombing killed 600 civilians, evidence suggests

‘Putin must pay a high price for his brutal aggression,’ European Commission president says

The Hindu

Inflation control needs another model

Lasting inflation control would require placing agricultural production on a steady footing

The Hindu

Inevitable increase: On RBI’s interest rate hike

The RBI’s increase in interest rates was long overdue

Benzinga

Mid-Afternoon Market Update: Crude Oil Jumps 5%; Fed Boosts Interest Rates By 0.5%

U.S. stocks traded mixed toward the end of trading, after the Federal Reserve announced its policy decision.

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