Connect with us
DAPA Banner
DAPA Coin
DAPA
COIN PAYMENT ASSET
PRIVACY · BLOCKDAG · HOMOMORPHIC ENCRYPTION · RUST
ElGamal Encrypted MINE DAPA
🚫 GENESIS SOLD OUT
DAPAPAY COMING

Business

Dale Vince Urges Ed Miliband to Ban North Sea Oil Exports Amid Iran War Energy Crisis

Published

on

Dale Vince Urges Ed Miliband to Ban North Sea Oil Exports Amid Iran War Energy Crisis

One of the Labour Party’s most prominent financial backers has called on Ed Miliband to slam the brakes on North Sea oil and gas exports, warning that the escalating conflict with Iran could leave Britain dangerously short of fuel.

Dale Vince, the green energy entrepreneur behind Ecotricity, said the Energy Secretary must be prepared to act decisively, instructing operators in the basin to keep hydrocarbons at home should supplies tighten further. Speaking to the Daily Telegraph, he argued it would be “bonkers” to continue shipping British barrels overseas while households and businesses brace for a squeeze.

“We can ban exports from the North Sea. China have done it,” Mr Vince said, pointing to Beijing’s willingness to prioritise domestic consumption during periods of strain. “If we are facing the prospect of a fuel shortage, then stop exporting it.”

Britain currently pumps around 53 million tonnes of crude annually, the bulk of which heads to refineries in the Netherlands, Poland and beyond. In a quirk of the global trading system, the country then imports roughly 51 million tonnes to feed its own forecourts and power stations, leaving it fully exposed to price spikes on world markets.

That exposure has become painfully evident since hostilities in the Gulf erupted last month. Roughly one-fifth of global oil and liquefied natural gas supplies remain bottled up behind Tehran’s closure of the Strait of Hormuz, sending Brent crude soaring to about $109 a barrel from $77 at the start of the month. Wholesale gas has jumped by around three-quarters, pushing up pump prices and prompting warnings from suppliers that household energy bills will climb sharply in the months ahead.

Advertisement

The crisis has reignited a fierce debate over Britain’s energy security, with industry voices pressing Mr Miliband to accelerate drilling and to rubber-stamp the contested Rosebank and Jackdaw fields. Reports on Friday suggested the Energy Secretary may approve Jackdaw while blocking Rosebank, a decision likely to inflame both sides of the argument.

Mr Vince remains opposed to any fresh expansion but believes the Government should extract maximum value from the ageing basin’s remaining reserves. He proposed offering existing operators contracts for difference, a mechanism more commonly associated with renewables, to prevent what he described as “a cliff-edge event where operators walk away because prices collapse”.

The intervention is certain to provoke fierce resistance from private producers, who rely on international buyers for the lion’s share of their revenue. Yet Mr Vince said the present moment exposes the folly of exposing Britain’s domestic output to volatile global benchmarks.

“We’ve opened ourselves up to global markets, but the concept of globalisation is costing us an arm and a leg when there’s an energy crisis,” he said. He contrasted the British approach with that of the United States, which restricts certain fuel exports and has long enjoyed the benefit of cheaper domestic gas. “We’re back to a situation where whatever we make in the North Sea costs us the global price.”

Advertisement

Mr Vince also used the moment to argue that the conflict should prompt a wider rethink of Britain’s dependence on Washington. The US has become the largest single supplier of crude to the UK, accounting for roughly 30 per cent of imports. “It alarms me to be reliant on the US for anything,” he said, describing the current American administration as “a very undependable regime” and calling for greater strategic independence from Washington.

Ultimately, he argued, the long-term answer lies in weaning the country off hydrocarbons altogether. “The answer is to get off fossil fuels and to break the link between the global price of fossil fuels and those that we make in our country.”

A Government spokesman defended the current approach, insisting Britain benefits from “a strong and diverse mix of fuel supply” spanning both imports and domestic production. Officials added that UK refinery output of petrol from crude exceeded demand in 2025, leaving a surplus available for export.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

Advertisement

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

(VIDEO) Gilgeous-Alexander, Jokic, Wembanyama, Doncic, Cunningham Named to All-NBA First Team

Published

on

Kylian Mbappe had a penalty saved in Real Madrid's Champions League loss at Anfield

NEW YORK — Oklahoma City Thunder guard Shai Gilgeous-Alexander, Denver Nuggets center Nikola Jokic, San Antonio Spurs forward Victor Wembanyama, Los Angeles Lakers guard Luka Doncic and Detroit Pistons guard Cade Cunningham were named to the 2026 All-NBA First Team on May 24.

Gilgeous-Alexander, the back-to-back NBA Most Valuable Player, and Wembanyama, the first unanimous Defensive Player of the Year in league history, headlined the first team. They were joined by the three other players who finished in the top five in MVP voting: Jokic, Doncic and Cunningham.

It is the first All-NBA selection for Wembanyama. Gilgeous-Alexander has been named to four straight All-NBA first teams. Wembanyama is the first Spurs player to make the first team since Kawhi Leonard in the 2016-17 season.

Advertisement

Jokic earned his sixth first-team nod and eighth All-NBA selection overall. Doncic was named to the All-NBA team for the sixth time in his eight-year career. It was the second All-NBA selection for Cunningham after being named to the third team last season.

Both Doncic and Cunningham played 64 games during the regular season and were granted special exceptions to be eligible for All-NBA consideration after failing to reach the required 65-game threshold.

Gilgeous-Alexander and Jokic were unanimous selections, with Wembanyama missing by one vote. Jokic now has twice as many All-NBA honors as any other player in Nuggets history.

Second and Third Teams

Advertisement

The second team comprised Boston Celtics forward Jaylen Brown, New York Knicks guard Jalen Brunson, Houston Rockets forward Kevin Durant, Cleveland Cavaliers guard Donovan Mitchell and Los Angeles Clippers forward Kawhi Leonard.

Brunson earned his third All-NBA distinction. It was Durant’s 12th time being named to an All-NBA team. Leonard has now made six All-NBA teams.

The third team featured five newcomers: Atlanta Hawks forward Jalen Johnson, Pistons center Jalen Duren, Philadelphia 76ers guard Tyrese Maxey, Thunder big man Chet Holmgren and Nuggets guard Jamal Murray.

Duren and Cunningham are the first pair of Pistons to be named to the All-NBA team in the same season since Chauncey Billups and Ben Wallace in 2005-06.

Advertisement

LeBron James was among those ineligible because he did not play in enough games. This became just the second time in his 23-season career that he was not an All-NBA pick. Stephen Curry and Giannis Antetokounmpo were also ineligible due to the 65-game rule.

All-NBA Voting Results

First Team Shai Gilgeous-Alexander, Thunder — 500 points Nikola Jokic, Nuggets — 500 points Victor Wembanyama, Spurs — 498 points Luka Doncic, Lakers — 482 points Cade Cunningham, Pistons — 414 points

Second Team Jaylen Brown, Celtics — 384 points Kawhi Leonard, Clippers — 277 points Donovan Mitchell, Cavaliers — 276 points Kevin Durant, Rockets — 241 points Jalen Brunson, Knicks — 197 points

Advertisement

Third Team Tyrese Maxey, 76ers — 168 points Jamal Murray, Nuggets — 149 points Jalen Johnson, Hawks — 125 points Jalen Duren, Pistons — 121 points Chet Holmgren, Thunder — 87 points

The All-NBA teams capped the league’s annual end-of-season awards announcements. Gilgeous-Alexander was named Clutch Player of the Year. Nickeil Alexander-Walker of the Atlanta Hawks was named Most Improved Player. Keldon Johnson of the Spurs was named Sixth Man of the Year. J.B. Bickerstaff of the Pistons was named Coach of the Year. Cooper Flagg of the Dallas Mavericks was named Rookie of the Year.

The All-NBA teams recognize the league’s top performers based on voting by a global panel of sportswriters and broadcasters. Players receive points for first, second and third team selections.

Advertisement
Continue Reading

Business

EIC Seeking Higher Rates To Support Floating-Rate Debt Investments (NYSE:EIC)

Published

on

EIC Seeking Higher Rates To Support Floating-Rate Debt Investments (NYSE:EIC)

This article was written by

Monte Independent Investment Research: Michael Del Monte is a buy-side equity analyst with expertise in the technology, energy, industrials, and materials sectors. Prior to working in the investment management industry, Michael spent over a decade in professional services working across industries that include O&G, OFS, Midstream, Industrials, Information Technology, EPC Services, and consumer discretionary.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

T. Rowe Price: The 5% Yield Is Attractive But Challenges Exist (Rating Downgrade)

Published

on

Columbia Dividend Opportunity Fund Q1 2026 Commentary

T. Rowe Price: The 5% Yield Is Attractive But Challenges Exist (Rating Downgrade)

Continue Reading

Business

Dollar weakens, Asia FX firms on US-Iran peace hopes

Published

on


Dollar weakens, Asia FX firms on US-Iran peace hopes

Continue Reading

Business

Earnings call transcript: Thryv Holdings beats Q1 2026 forecasts, stock up 4.64%

Published

on


Earnings call transcript: Thryv Holdings beats Q1 2026 forecasts, stock up 4.64%

Continue Reading

Business

Intel Shares Rise 1.13 Percent to $119.84 on AI Server Demand and Foundry Progress

Published

on

Executives at Silicon Valley chip maker Intel say 'fluid' US trade policies and regulatory moves have increased the chances of economic slowdown

NEW YORK — Intel Corp. shares closed at $119.84 on May 22, 2026, up 1.13 percent on the Nasdaq as the semiconductor company continued to show signs of recovery in its data center and artificial intelligence businesses amid ongoing restructuring efforts.

The stock traded in a range between $117.50 and $121.20 during the session. In after-hours trading, shares fell to around $118.15. Intel has experienced volatility in 2026 as investors monitor its progress in regaining market share in AI servers and advancing its foundry operations.

Q1 2026 Financial Results

Intel reported first-quarter 2026 revenue of $13.6 billion, up 7 percent from the prior year. The Data Center and AI segment grew 22 percent to $5.1 billion, while Client Computing Group revenue rose 1 percent to $7.7 billion. The company posted a GAAP net loss of $3.7 billion, or $0.73 per share, largely due to $4.07 billion in restructuring and impairment charges. Non-GAAP earnings per share were $0.29.

Advertisement

Intel guided second-quarter 2026 revenue between $13.8 billion and $14.8 billion. The company highlighted progress on its 18A manufacturing process and noted sold-out AI CPU capacity earlier in the year.

Business Strategy and Foundry Update

Intel has focused on regaining share in AI servers under CEO Lip-Bu Tan. The company reported improvements in Data Center and AI revenue. Potential partnerships, including discussions with Tenstorrent for AI processors, have drawn attention. Challenges remain in foundry profitability and process yields.

Intel continues to invest heavily in manufacturing facilities and research. Q1 2026 operating cash flow was $1.1 billion, with adjusted free cash flow negative $2 billion due to capital expenditures.

Advertisement

Analyst Views

Analysts have assigned Intel a consensus Hold rating with average price targets around $70 to $81 in some forecasts, though recent momentum has pushed shares higher. Intel’s stock recovery followed significant gains from 2025 lows, with shares rising over 200 percent in the 2026 year-to-date period at points.

The company has pursued an “aggressive pricing strategy” to maintain competitiveness while absorbing costs associated with higher RAM and new components.

Market Position

Advertisement

Intel competes directly in semiconductors against Nvidia and AMD in data center CPUs while building foundry capabilities. The company reported sold-out AI CPU capacity earlier in the year. Supply chain reports have pointed to Intel’s efforts on Panther Lake and other processors for 2026-2027.

Intel maintains a dividend, though payouts have faced scrutiny amid earlier losses. The stock has shown high volatility, with a 52-week low near $19 in 2025 before rebounding.

Broader Industry Context

Demand for AI infrastructure has driven investment across the semiconductor sector. Intel’s progress on its 18A process node is seen as critical for regaining competitiveness. The company has highlighted improvements in process technology and partnerships to expand its foundry business.

Advertisement

Upcoming earnings are scheduled for late July 2026. Analysts will monitor execution on foundry profitability, AI CPU sales and margin trends.

Company Developments

Intel has invested in new manufacturing facilities and research. The company has reported sequential revenue growth in client and data center segments for Q2, driven by supply improvements and pricing. Risks include foundry execution and competition in AI chips.

Intel’s market recovery followed significant gains from 2025 lows. The company has focused on regaining share in AI servers and advancing its foundry business.

Advertisement

Valuation and Outlook

Intel carries exposure to cyclical semiconductor markets and has faced margin pressures from competitive pricing and memory costs. The stock has shown high beta and cyclical exposure compared to more stable tech peers.

Analysts project continued revenue and earnings expansion tied to AI adoption. Intel has maintained guidance for sequential growth in key segments. The company faces typical industry risks, including supply chain dynamics for components like memory and GPUs, geopolitical factors affecting China exposure, and competition from other server providers.

Intel continues quarterly product launches and ecosystem partnerships to address enterprise and research demand for AI capabilities. Further details on Q2 performance and full-year execution will come with the late July report.

Advertisement

Historical Performance

Intel has a long history as a leader in semiconductor manufacturing. The company has invested heavily in regaining process technology leadership after falling behind in recent years. Its 18A node is viewed as a key milestone for future competitiveness.

The stock has traded well above prior-year levels amid sector tailwinds in AI infrastructure. Trading volume on May 22 was elevated as investors reacted to broader sector momentum and company-specific developments.

Advertisement
Continue Reading

Business

Huawei proposes new path for chip development amid US sanctions

Published

on

Huawei proposes new path for chip development amid US sanctions


Huawei proposes new path for chip development amid US sanctions

Continue Reading

Business

Singapore economy beats expectations in Q1 with 6% annual growth, risks ahead

Published

on

Singapore economy beats expectations in Q1 with 6% annual growth, risks ahead


Singapore economy beats expectations in Q1 with 6% annual growth, risks ahead

Continue Reading

Business

(VIDEO) Spurs Even Western Conference Finals Series at 2-2 with 103-82 Game 4 Victory Over Thunder

Published

on

The NFL logo appears on a goal post before the 2015 NFC Championship game between the Seattle Seahawks and the Green Bay Packers at CenturyLink Field in Seattle Jan. 18, 2015.

SAN ANTONIO — The San Antonio Spurs defeated the Oklahoma City Thunder 103-82 in Game 4 of the 2026 Western Conference Finals on May 24 at Frost Bank Center, evening the best-of-seven series at 2-2.

Victor Wembanyama led the Spurs with 33 points, including 22 in the first half. De’Aaron Fox recorded 10 rebounds, while Devin Vassell and Stephon Castle combined for 26 points. The Spurs held the Thunder to 33 percent shooting from the field and 18 percent from three-point range. Shai Gilgeous-Alexander did not play in the fourth quarter.

Game Summary

Advertisement

The Spurs built a substantial lead early and maintained control throughout. Oklahoma City struggled with shooting efficiency and turnovers. The Thunder’s bench, which had been a strength in previous games, was outscored as San Antonio’s starters and reserves contributed balanced scoring.

Wembanyama’s performance included efficient scoring inside and from mid-range. He also added rebounds and defensive contributions. The Spurs’ defense limited Oklahoma City’s transition opportunities and contested shots effectively.

Series Context

The Thunder won Game 3 by 15 points after overcoming an early deficit. San Antonio responded in Game 4 with a complete team effort. The series opened with the Spurs winning Game 1 in double overtime in Oklahoma City. The Thunder took Game 2 at home before winning Game 3 in San Antonio.

Advertisement

Game 4 marked a return to strong home performance for the Spurs. The victory shifted momentum back to San Antonio heading into Game 5 in Oklahoma City.

Player Performances

Wembanyama has been the Spurs’ leading scorer through the first four games of the series. His ability to impact both ends of the court has been central to San Antonio’s competitiveness. Fox contributed playmaking and rebounding in his return from injury.

Vassell and Castle provided scoring support. The Spurs’ bench played a key role in maintaining the lead during the second half. Oklahoma City’s starters, led by Gilgeous-Alexander, faced defensive pressure throughout.

Advertisement

The Thunder’s poor shooting night contrasted with their stronger performances in earlier games. Their bench production, which set a playoff record in Game 3, was limited in Game 4.

Injury and Availability Notes

Dylan Harper remained sidelined for the Spurs with a right adductor injury. The team has managed guard depth with Fox’s return. Oklahoma City monitored Jalen Williams’ hamstring status after he missed Game 3.

Coaching Strategies

Advertisement

Spurs coach Mitch Johnson emphasized balanced scoring and defensive intensity. The team focused on limiting Gilgeous-Alexander’s driving lanes and forcing turnovers. Thunder coach Mark Daigneault utilized rotations to counter Wembanyama but faced challenges with shooting efficiency.

Home-Court Atmosphere

Frost Bank Center provided strong support for the Spurs. The crowd contributed to the energy as San Antonio built and protected the lead. Former Spurs legends attended, adding to the playoff atmosphere.

Broader Playoff Picture

Advertisement

The Western Conference Finals feature two young cores with significant future potential. Oklahoma City, the defending champions, have shown resilience through injuries and early deficits. San Antonio has demonstrated competitiveness despite health challenges to key guards.

The series has been marked by physical play and adjustments. Both teams have young talent and assets that could shape future rosters. The outcome of the Western Conference Finals will determine the opponent for the NBA Finals.

Historical Notes

Wembanyama’s scoring output in the series has placed him among standout playoff performers for second-year players. The Spurs’ response in Game 4 after trailing the series showed resilience at home.

Advertisement

The Thunder’s bench has been a consistent strength, though it was neutralized in Game 4. The series has featured strong individual performances from Wembanyama and Gilgeous-Alexander.

Upcoming Schedule

Game 5 is scheduled for May 26 in Oklahoma City. The series could return to San Antonio for Game 6 if necessary. Both teams will evaluate adjustments and monitor player availability ahead of the next contest.

The Western Conference Finals have drawn national attention for the matchup between two rising franchises. The Thunder aim to defend their title, while the Spurs continue building around their young core.

Advertisement
Continue Reading

Business

Thailand Prepares for Amazing Grand Sale 2026 This June to August

Published

on

Thailand Prepares for Amazing Grand Sale 2026 This June to August

Thailand’s Amazing Grand Sale 2026, scheduled from June 15 through August 15, is designed to drive tourist expenditure via deals and promotional offers throughout the country, with more than 100 partners participating to champion local goods and designers.


Key Points

  • The Amazing Thailand Grand Sale 2026 is set for June 15 to August 15, organized by the Tourism Authority of Thailand with over 100 partners. The campaign aims to boost tourist spending during the Green Season, targeting both short-haul and long-haul markets.
  • Recent data indicates that foreign visitors allocate 15-20% of their travel budgets to shopping, making it the third-largest expense after accommodations and food. Key markets include China, the US, UK, Japan, and Australia.
  • The campaign offers discounts across major cities, promoting Thai identity and local products. The 2025 campaign saw over 700 million baht in circulation. Businesses are encouraged to participate by providing promotions, with more info available on the LINE Official Account @thailandgrandsale.

The government is moving ahead with preparations for the Amazing Thailand Grand Sale 2026, led by the Tourism Authority of Thailand under the Ministry of Tourism and Sports, in coordination with more than 100 partners across the tourism sector. The campaign runs from June 15 to August 15, 2026, during the Green Season, with the objective of increasing tourist spending from both short-haul and long-haul markets.

Data from recent years shows that foreign visitors typically spend around 15 to 20 percent of their travel budget on shopping and souvenirs, making it the third-largest expense after accommodation and food and beverages. Key markets include China, Singapore, the United States, the United Kingdom, Japan, France, Australia, India, South Korea, and Hong Kong.

The campaign features discounts and special privileges across major cities and emerging destinations, while promoting Thai identity through locally branded products and supporting designers in areas such as fashion, crafts, jewelry, and environmentally friendly goods made from recycled materials.

Results from the 2025 campaign recorded more than 700 million baht in circulation, along with high satisfaction levels and strong recommendations from participants. Tourism-related businesses are encouraged to join by offering promotions, with further information available through the LINE Official Account @thailandgrandsale.

Advertisement

Source : Thailand Prepares Amazing Thailand Grand Sale 2026

Continue Reading

Trending

Copyright © 2025