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Brent heads for record monthly jump as Iran conflict widens

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Brent heads for record monthly jump as Iran conflict widens
Oil prices extended gains on Monday, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the U.S.-Israel war with Iran in the Middle East.

Brent crude futures jumped $3.09, or 2.74%, to $115.66 a barrel by 2353 GMT after settling 4.2% higher on Friday.

U.S. West Texas Intermediate was ‌at $102.56 a barrel, ⁠up $2.92, ⁠or 2.93%, following a 5.5% gain in the previous session.

Brent has soared 59% this month, the steepest monthly jump, exceeding gains seen during the 1990 Gulf War, after the Iran conflict effectively closed the Strait of Hormuz, a conduit for a fifth of the world’s oil and gas supplies.

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The war, launched on February 28 with U.S. and Israeli strikes on Iran, has spread across the Middle East, with ⁠Yemen’s Iran-aligned Houthis ‌on Saturday launching their first attacks on Israel since the start of the conflict, raising concern about shipping lanes around the Arabian ⁠Peninsula and the Red Sea.


“The conflict is no longer concentrated in the Persian Gulf and around the Strait of Hormuz, but now extends into the Red Sea and the Bab el-Mandeb – one of the world’s most crucial chokepoints for crude and refined product flows,” JP Morgan analysts led by Natasha Kaneva said in a note.
Saudi crude exports re-directed from the Strait of Hormuz to the Yanbu port in the Red Sea reached 4.658 ‌million barrels per day last week, data from analytics firm Kpler showed. If exports from Yanbu were disrupted, Saudi oil would need to pivot toward Egypt’s Suez-Mediterranean (SUMED) pipeline to ⁠the Mediterranean, JP Morgan analysts said.

Attacks in the region escalated over the weekend and damaged Oman’s Salalah terminal despite efforts to start ceasefire talks.

Iran said it was ready to respond to a U.S. ground attack, accusing Washington on Sunday of preparing a land assault even as it sought negotiations.

Pakistan’s Foreign Minister Ishaq Dar said they had covered possible ways to bring an early and permanent end to the war in the region as well as potential U.S.-Iran talks in Islamabad.

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Asia stocks sink as Iran fears weigh; Japan leads losses after BOJ comments

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Asia stocks sink as Iran fears weigh; Japan leads losses after BOJ comments

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ACCA Wales on its four priorities for the next Welsh Government

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Head of ACCA Cymru/Wales Lloyd Powell.

Accountancy body ACCA Wales is calling on the next Welsh Government to reform business rates and create a world class skills and career system. Ahead of the Senedd Election in May ACCA (Association of Chartered Certified Accountants) Wales says political parties should commit to four priorities that will underpin Wales’ future prosperity.

The global professional accountancy body, has 6,400 members and students in Wales working in all sectors of the economy.

READ MORE: Port Talbot gets £64m from UK Government to create floating offshore wind portREAD MORE: Wales’ poor record on securing research and innovation funding

It says the next Cardiff Bay administration should:

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  • Build a world-class skills and careers system by expanding higher-level apprenticeships, accelerating short-course provision and embedding employer voice across regional and national skills planning, particularly for in demand competencies like digital and green skills
  • Create the conditions for sustainable business growth through investment in infrastructure and connectivity, business support and stronger engagement between government and key sectors
  • Strengthen public finance, productivity and tax certainty with greater funding certainty through multi-year budgets, a simpler tax environment and reform of the business rates system.
  • Enable a practical and just transition to net zero by providing targeted support for small businesses and strengthening climate reporting across public bodies.

On business rate reform it said there needs to rebalance of rates across all businesses, and not penalising firms who invest in their premises.

The prospectus also exemplifies how finance professionals can support these asks and work with policymakers to drive change within businesses and organisations of all sizes.

Lloyd Powell, head of ACCA Cymru/Wales, said: “Accountancy is a cornerstone profession of society; it is vital to help economies, organisations and individuals grow and prosper. In Wales, finance professionals sit at the heart of the economy, public services and transition to net zero. They enable growth, stability and innovation across every sector.

“We stand ready to work in partnership with the Senedd and Welsh Government to deliver the ambitions set out in our prospectus, ensuring Wales has the skills, institutions, and financial leadership required to thrive. Our calls are clear. This is not about party politics, but about practical actions that can support businesses, public finances and long-term prosperity.”

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Fitness brand Transform Hub plans 11 more gyms as it continues national expansion targeting customers over 35

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Franchise business launched by personal trainer James Calderbank wants to reach 100 sites

Fitness brand Transform Hub, which helps over-35s to get fit, is planning to roll out another 11 locations across the UK this year

Fitness brand Transform Hub is planning to roll out another 11 locations across the UK this year(Image: Transform Hub)

A North West fitness brand that targets over 35s who want to get healthy is planning to roll out another 11 locations across the UK this year.

Transform Hub focuses on group-based personal training classes. It was founded in Preston by personal trainer James Calderbank and is now headquartered in Knutsford, Cheshire.

The franchise business already has 27 gyms across the UK but is now planning to roll out new venues in Worcester, Cheltenham, Southampton, Altrincham, Hull, Cambridge, Northampton, Nottingham South, Winchester and Gosforth. It aims to reach 100 gym sites by 2028.

Meanwhile, the franchise has secured IP trademarks in the US and Europe as bosses plan for gradual expansion overseas.

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In 2023, Transform Hub secured £1m in backing from investors Andy Bell and Fergus Lyon. The business says that last year its gym memberships rose 28.4%, from 2,878 to 3,695 active members, helping revenues rise 61% to £1.7m. It says around 80% of its members are aged 30-60.

Founder and CEO of Transform Hub, James Calederbank said: “When I first created Transform Hub, I saw a huge gap in the market for people to access personal training in a different way. Online coaching delivers incredible accountability and lifestyle change, while in-person training creates energy, community, and real momentum. But most people were forced to choose one or the other. Transform Hub connects the two.”

He added: “What’s also exciting is the opportunity this creates for franchise partners: people looking to open gyms under the Transform Hub name.”

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Woodside pulls Browse carbon plan

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Woodside pulls Browse carbon plan

Woodside Energy says it remains committed to capturing and storing emissions from its proposed Browse gas project, despite withdrawing a plan from the regulatory process.

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Bluesky Introduces Agentic AI ‘Attie’ That Delivers Custom Feeds Based on Preferences

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Bluesky

Bluesky is the latest social media platform to introduce its very own AI chatbot, with Attie being formally introduced to the world as the technology is set to deliver custom feeds to users with simple prompts.

Attie can understand natural language and help users create a feed that they want without the hassle of learning how to code.

Bluesky Introduces New Agentic AI Social App, Attie

Bluesky’s former CEO and now Chief Innovation Officer, Jay Graber, recently shared a new development from the company called “Attie,” the company’s latest take on a generative artificial intelligence platform, but it is not exactly a chatbot.

Instead of talking to Attie to learn about various topics, create write-ups, and more, the new agentic AI will help users create their own feeds on Bluesky.

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The new agentic AI was built using Anthropic’s Claude chatbot, and the app was built on the same underlying protocol that Bluesky is using, the open-source framework AT Protocol.

According to Graber, users need not be intimidated to create their custom feeds on Bluesky with the help of Attie as the experience will only feel like users are “having a conversation rather than configuring software.”

Attie: Create Custom Feeds Using Natural Language

As mentioned earlier, users may create custom feeds using Attie. The company’s development of this new agentic AI centers on using natural language that will allow users to freely talk to the chatbot like in a normal setting with friends, but it can get complex work done, like coding, to create a feed based on their preferences.

It has been almost three years since Bluesky first arrived in the tech industry, with the platform then popularizing the use of custom algorithmic feeds on the social media experience.

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Users only need to describe the content they want to see on their feed to Attie to get started. For example, they only need to tell the agentic AI to “build a feed that gives me updates on new and upcoming console game releases from accounts that I follow.”

The agentic AI will act as a coding agent to create the feed without users actually writing code.

Originally published on Tech Times

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Excise cut as new fuel plan brought in

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Excise cut as new fuel plan brought in

Premier Roger Cook has welcomed the federal government’s decision to half fuel excise, saving motorists about 26 cents a litre in petrol and diesel at the bowser.

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Dollar holds firm as markets brace for drawn-out Middle East war

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Dollar holds firm as markets brace for drawn-out Middle East war


Dollar holds firm as markets brace for drawn-out Middle East war

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Albanese Cuts Fuel Excise on Petrol, Diesel for Three Months

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Australian Prime Minister Anthony Albanese
Australian Prime Minister Anthony Albanese
Wikimedia Commons

Prime Minister Anthony Albanese has announced that fuel excise will be cut in half for petrol and diesel beginning April 1.

This will be in effect for three months and will reduce cost of fuel by 26.3 cents a litre.

Fuel Excise Halved for Three Months

According to a report by ABC News, the announcement was made after a meeting of the national cabinet with state and territory leaders. During this meeting, a four-point action plan to deal with the fuel crisis was also discussed.

Albanese also went on to claim that Australia is on “level two” of the fuel crisis. The goal, according to the prime minister, is to “keep Australia moving.”

He likewise said that the country is still far from reaching the next level, which will require “taking targeted action.”

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There is still a level four, which will entail “protecting critical services.”

Albanese has also called for citizens to only take the fuel they need as to not cause even bigger supply problems.

NSW Premier Reacts to National Fuel Plan

According to 9News, New South Wales Premier Chris Minns said that he welcomes the action plan. He likewise commented on how long he thinks the ongoing conflict in the Middle East will continue.

“We are not necessarily sure what will happen in the Middle East in the next three or six months,” Minns said. “We are not making a decision today to tell people to cancel their trips around the state or cancel Easter holidays.

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“But as time goes on, we may tell people to use their common sense on this and reduce their usage,” he added.

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Pizza and bread products recalled for metal fragments across 10 states

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Pizza and bread products recalled for metal fragments across 10 states

Thousands of ready-to-eat pizza and bread products were recalled over the potential presence of metal fragments, according to the Food and Drug Administration.

North Carolina-based Bakkavor voluntarily initiated the recall on Jan. 19, according to the FDA.

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Last week, the health agency classified the alert as a Class II recall, which means “use of or exposure to a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote.”

NEARLY 10M POUNDS OF FROZEN FRIED RICE SOLD AT TRADER JOE’S ADDED TO RECALL: USDA

Basil pizza

Thousands of ready-to-eat pizza and bread products were recalled over the potential presence of metal fragments. (Stefan Irvine/LightRocket via Getty Images / Getty Images)

About 23,459 cases of roasted tomato and Parmesan focaccia bread were recalled, sold under brand names such as Frederik’s by Meijer, Harris Teeter, Trader Joe’s and Fresh & Simple. 

Additionally, 2,337 cases of HelloFresh Basil Pesto and Mozzarella Pizza, made up of 15 packages per case, were also recalled.

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The recall affects four pizza lot numbers and more than a dozen focaccia bread lot numbers, with use-by dates ranging from April 27 through Oct. 15.

Trader Joe's grocery store, building exterior and entrance at night, New York City, New York, USA

Brands affected by the recall include HelloFresh, Frederik’s by Meijer, Fresh & Simple, Harris Teeter and Trader Joe’s. (Plexi Images/GHI/UCG/Universal Images Group via Getty Images / Getty Images)

The affected items were distributed in 10 states — Arizona, California, Connecticut, Florida, Illinois, Michigan, North Carolina, New Jersey, Texas and Virginia.

The food products were also shipped directly to customers through HelloFresh.

90,000 BOTTLES OF CHILDREN’S IBUPROFEN RECALLED NATIONWIDE, FDA SAYS

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The FDA classified the alert as a Class II recall. (iStock / iStock)

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Customers are urged to dispose of the product or return them to the place of purchase for a refund.

No injuries have been reported in connection with the recall thus far.

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US stock futures fall as Iran fears persist, Trump comments offer mild relief

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US stock futures fall as Iran fears persist, Trump comments offer mild relief

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