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Oil Price Today (May 8): Crude oil snaps three-day losing streak as Iran-US clashes stoke Hormuz fears. What are experts saying?

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Oil Price Today (May 8): Crude oil snaps three-day losing streak as Iran-US clashes stoke Hormuz fears. What are experts saying?
Oil prices climbed more than 1%, snapping a three-day losing streak on Friday, after fresh clashes between the U.S. and Iran raised concerns over the stability of the fragile ceasefire and weakened hopes of progress toward reopening the Strait of Hormuz, a crucial route for global oil and gas shipments.

The latest rise followed Iran’s accusation that the U.S. breached the month-long ceasefire. Washington, meanwhile, said its actions were retaliatory after Iranian forces fired on U.S. naval vessels passing through the strait on Thursday.

Oil price on May 8

Brent crude futures rose $1.41, or 1.41%, to $101.47 a barrel by 0123 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.12, or 1.18%, to $95.93 a barrel. Prices had initially surged more than 3% at the open.The rebound came after three straight sessions of losses driven by reports earlier this week that Washington and Tehran were nearing an agreement to halt hostilities and fully reopen the Strait of Hormuz. The proposed deal, however, was expected to leave broader disputes over Iran’s nuclear programme unresolved. Despite Friday’s gains, both crude benchmarks are still on track to end the week around 6% lower.

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Iran’s military claimed the U.S. targeted an Iranian oil tanker, another vessel, and civilian areas both in the strait and on the mainland.
In a post on Truth Social, Trump said U.S. forces had destroyed the Iranian targets involved in the confrontation, including small boats and drones. He also warned Iran of further military action if it failed to reach a nuclear agreement.
The exchange came as the U.S. awaited Tehran’s response to its latest peace proposal, which did not address several key sticking points, including Washington’s demand to reopen the strait. Before the conflict erupted on February 28, the Strait of Hormuz handled roughly one-fifth of the world’s oil and gas supply, but traffic has remained largely disrupted since fighting involving Iran, the U.S., and Israel intensified.
Analysts said the market remains on edge. Haitong Futures noted that the ceasefire may only be temporary, adding that stalled negotiations between the U.S. and Iran could spark renewed escalation and drive oil prices even higher.

Nuvama Institutional Equities said a prolonged closure of the Strait of Hormuz could disrupt nearly 20 million barrels per day of crude flows. Under such a scenario, oil prices could potentially surge to between $110 and $150 per barrel.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Sanderson backs Synergy chair amid review

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Sanderson backs Synergy chair amid review

Energy Minister Amber-Jade Sanderson has announced the exit of two Synergy directors and backed its chair for another term, months after ordering a review of its board.

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Warehouse plan that could create hundreds of jobs is approved

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Winsford scheme could ‘deliver significant economic growth’

Artist's impression of what the warehouse could look like

What the proposed Winsford warehouse could look like(Image: Local Democracy Reporting Service)

Ambitious plans for a huge Winsford warehouse which could create 275 jobs have been given the green light.

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Cheshire West and Chester Council’s planning committee unanimously approved the development at Winsford Industrial Estate when it met this week.

The plans for the 20,909 sq m site also include office space, service yard, gatehouse, car parking, landscaping and improvements to existing access road off the estate’s Road One.

There were no objections to the scheme and virtually no discussion at the meeting itself, with approval being proposed and seconded, and the committee voting unanimously to back it.

The plans had to be discussed as a matter of policy due to the sheer size of the building.

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Submitted by Rula Developments, plans show the 16-acre site is spread across two parcels of land to the eastern part of the estate.

This area itself sits adjacent to land now developed as a unit for the use of HGV manufacturer Tiger Trailers.

A report to the committee said the building would be just under 19m in height, a scale the report said was ‘in keeping with the character of the wider area or the design of existing buildings’.

The report said: “Externally, the development will feature a high quality, contemporary design with elevations forming a contemporary mix of materials in an attractive colour palette.”

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In terms of parking, the report said there would be 470 car parking spaces and 28 cycle spaces which it said was ‘sufficient’ for its proposed uses. It will also have cycle parking and electric vehicle (EV) charging facilities.

On the roof will be 60 sq m of solar panels with heating provided by air source heat pumps, with the building also having low energy LED lighting.

The report added: “The development would deliver significant economic growth through the creation of around 275 new jobs in an existing employment location.”

It added: “It is considered significant weight should be afforded to the economic benefits arising from the development.”

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To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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Planning chiefs told to ‘be brave’ as development decision deferred

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Taylor Wimpey plans for Tattenhall received local objections

The proposed Tattenhall site that has been earmarked for houses

The proposed site that has been earmarked for houses(Image: Local Democracy Reporting Service)

Planning chiefs were told they needed to ‘be brave’ as they agreed to delay a decision on a massive new housing estate.

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West Cheshire and Chester Council’s planning committee met this week to discuss proposals by Taylor Wimpey for 110 properties on land at Chester Road, Tattenhall.

The scheme had been called in for discussion by ward councillor Mike Jones, who raised concerns including impact on local roads. Tattenhall Parish Council had objected, raising issues including a lack of local infrastructure.

At the meeting, objector Ian Waddington, parish councillor Iain Keeping, and Cllr Mike Jones all spoke.

Mr Waddington said: “The estate would completely obliterate the only remaining view across open countryside from the west side of the village at a sensitive location that typifies Tattenhall’s rural character.” He added: “It will be the start of urbanization. It is not wanted, and can so easily be avoided.”

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Ben Edmundson, design and planing manager at Taylor Wimpey North West, told the committee the plans would ‘prioritise local people’ with a ‘strong local connection’.

He said: “We’ve worked closely with the council and statutory consultees through the pre application and planning process to design residential scheme that is responsive and distinctive to the architectural and landscape qualities of Tattenhall.”

There is broader, ongoing debate within the council about the impact of updated national planning policy, which has essentially ‘moved the goalposts’ in the borough and states it now has a shortage of planned housing in the coming five years. And in recent months concerns have been raised at the impact of some housing projects, particularly those in rural areas.

Committee member Katrina Kerr quizzed officers one what the fallout could be of deferring the plans. She said: “What’s the worst thing that could happen? The Government could override us?”.

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Officers replied that costs could be incurred if the council was overruled.

Cllr Kerr added: “The best thing that could happen is that Taylor Wimpey sit down with Tattenhall councillors, the parish council, and come up with a scheme that’s a bit closer to what everybody here wants.” She added: “I’d risk it”.

Committee member Gillian Edwards raised concerns over the amount of money via legal agreement the developer had pledged to offset the impact of new homes on health and education in the area.

And referring to councillor Kerr’s earlier comments, she added: “Life is about risks. I think we just need to be brave.”

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She added: “This is the first but it’s not the last we’re going to see of these. So I think it’s about taking a chance and doing the right thing.”

There was considerable back and forth throughout the meeting between elected members on the committee and planning officers over how to shape a reason for deferring a decision. They eventually settled on the mix of house sizes being proposed.

The committee subsequently voted for deferral, with nine in favour, one against and one abstention.

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BSE shares fall 3% despite Q4 profit surge. Should you buy, sell or hold India’s oldest stock exchange?

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BSE shares fall 3% despite Q4 profit surge. Should you buy, sell or hold India’s oldest stock exchange?
Shares of BSE slipped as much as 3.3% to their day’s low of Rs 3,832 on the NSE even after India’s oldest stock exchange reported a consolidated net profit of Rs 797 crore for the March quarter of FY26, registering a 61% increase from Rs 494 crore in the corresponding period last year.

Revenue for Q4FY26 rose 85% year-on-year (YoY) to Rs 1,564 crore, compared with Rs 847 crore in the same quarter of the previous financial year. On a sequential basis, BSE’s net profit grew 32% from Rs 602 crore reported in Q3FY26, while revenue increased 26% from Rs 1,244 crore recorded in the October-December quarter.

Transaction charges remained the key driver of growth during the quarter. Revenue from transaction charges surged 114% YoY to Rs 1,311 crore, compared with Rs 953 crore in the year-ago period. On a quarter-on-quarter basis, the figure rose 38% from Rs 612 crore in Q3FY26.

For the full financial year FY26, BSE reported consolidated revenue of Rs 5,148 crore. EBITDA stood at Rs 3,393 crore, while EBITDA margin came in at 48%.

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BSE share: Should you buy, sell or hold?

Nuvama Institutional Equities has maintained a ‘Buy’ rating on BSE with a target price of Rs 4,570, implying an upside potential of 15%. According to Nuvama, BSE is expected to see a relatively lower impact from the reduction in weekly contract volumes, as discontinued weekly contracts account for 21.3% of its index options premium volumes, compared with 46.9% for NSE.


The brokerage also believes BSE still has significant headroom to expand its derivatives active customer base, which currently stands at 15 lakh-20 lakh monthly users versus around 42 lakh for NSE. In addition, the brokerage expects higher contract sizes to help lower clearing charges, since these charges are linked to the number of contracts cleared.
Management commentary
Management reiterated that increasing participation in monthly contracts remains a key strategic priority for deepening the derivatives market. Monthly contract volumes increased 5x YoY while index futures volumes rose 3x YoY, albeit on a smaller base.
BSE significantly upgraded trading infrastructure capacity, with ICCL now capable of handling nearly 29,000 trades per second per broker and up to 69,000 peak trades with minimal latency. Management stated these upgrades have helped attract both large and smaller participants.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Uber Stock Jumps After Earnings. These Are the Numbers to Know.

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Uber Stock Jumps After Earnings. These Are the Numbers to Know.

Uber Stock Jumps After Earnings. These Are the Numbers to Know.

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NYT Connections Answers Today Revealed for May 7, 2026 Puzzle #1061

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Nancy Guthrie

NEW YORK — The New York Times Connections puzzle for Thursday, May 7, 2026, delivered a moderately challenging mix of outdoor recreation, collective nouns, sports rules and everyday controls as Puzzle #1061 tested players’ ability to spot thematic links among 16 seemingly unrelated words.

The solution groups are:

🟨 Yellow (Easiest): FISHING GEAR — FLY, HOOK, LINE, NET 🟩 Green: MULTITUDE — DROVE, HOST, MASS, PACK 🟦 Blue: COMMIT A BASKETBALL INFRACTION — CARRY, DOUBLE-DRIBBLE, GOALTEND, TRAVEL 🟪 Purple (Hardest): CONTROLLED WITH UP/DOWN BUTTONS — CAR WINDOW, CHANNEL, ELEVATOR, VOLUME

Many players nailed the fishing category early but struggled with the purple group, which required noticing subtle connections to adjustable controls rather than obvious tech terms. The basketball infractions category also tripped up non-sports fans, while the multitude synonyms proved deceptively straightforward once spotted.

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Progressive Hints for Today’s Puzzle

For those who prefer solving independently or want to improve future performance, here are layered hints:

Yellow Category Hint (Fishing Gear): Think about what an angler packs for a day on the water. One word is a type of artificial lure. Green Category Hint (Multitude): These words all describe large groups or crowds of people or things. Blue Category Hint (Basketball Infractions): These are common rule violations in hoops that result in turnovers or penalties. Purple Category Hint (Up/Down Buttons): These are things you adjust by pressing buttons that move something higher or lower.

How Players Performed

Early data showed an average solve rate around 4.1 categories, with many achieving perfect games after identifying the fishing theme first. Social media reactions ranged from delight at quick solves to frustration over the purple group. One popular post read, “Got fishing and basketball right away but spent forever on the buttons — who thinks of car windows like that?”

Why Today’s Categories Were Tricky

The fishing gear category was the most accessible, as FLY, HOOK, LINE and NET form a classic quartet familiar to anyone who has cast a rod. The multitude words — DROVE, HOST, MASS and PACK — required recognizing collective nouns that can describe groups beyond animals.

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Basketball fans quickly spotted CARRY, DOUBLE-DRIBBLE, GOALTEND and TRAVEL as violations, but casual players sometimes confused them with other sports. The purple category proved most elusive: CAR WINDOW, CHANNEL, ELEVATOR and VOLUME all use up/down controls in vehicles, TVs, buildings and audio devices.

Connections Strategy Tips for 2026 Players

The NYT’s Connections game continues to grow in popularity as part of the expanding Games subscription ecosystem. Successful strategies include:

  1. Scan for obvious categories first (sports rules, hobbies, synonyms).
  2. Look for words with multiple meanings — “LINE” can be fishing or a queue.
  3. Use process of elimination when three words fit but the fourth is elusive.
  4. Consider technical or mechanical connections for harder groups.
  5. Practice daily to recognize recurring patterns like collective nouns or rule violations.

Broader Appeal of NYT Connections

Since its 2023 debut, Connections has become a morning ritual for millions, praised for striking a balance between Wordle’s simplicity and more complex logic puzzles. Its color-coded difficulty system and shareable emoji grids foster friendly competition among friends, families and online communities.

In 2026, the game remains free with optional NYT Games subscription perks like archived puzzles and performance tracking. It complements other hits like Wordle (#1783 answer today: BUDGE), Strands and the Mini Crossword, creating a robust daily puzzle lineup.

Yesterday’s Solution Recap

For players tracking streaks, Wednesday’s Puzzle #1060 featured casino items, bowling alley elements, clothing parts and road markings. Maintaining a streak requires consistent daily play, with many users reporting streaks exceeding 100 games.

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Cultural Phenomenon

Connections has influenced vocabulary discussions, classroom activities and even workplace icebreakers. Its appeal lies in testing not just knowledge but lateral thinking — connecting concepts across domains from sports to everyday technology. Linguists appreciate how it highlights the richness and ambiguity of English words.

As Puzzle #1061 enters the archives, players look forward to tomorrow’s challenge while reflecting on today’s solve. Whether you swept all four categories in order or needed a few mistakes to crack the purple group, the game delivers its signature blend of satisfaction and gentle frustration.

For the latest puzzles, hints and community discussion, visit the New York Times Games section. Keep your streaks alive, share your results responsibly, and enjoy the mental workout that Connections provides every single day. Good luck on future puzzles — may your connections always align perfectly.

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Zuber Issa’s EG on the Move plans retail complex including units for start-ups

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Site near M65 would include convenience store ‘bringing footfall to support the other smaller retail units’

The EG On The Move head office in Blackburn

The EG On The Move head office, in Blackburn(Image: EG On The Move)

Blackburn billionaire Zuber Issa’s EG on the Move company is looking to develop a new shopping complex on grassland off the town’s Haslingden Road.

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The firm has identified the 1.3 acre site near the M65 for the scheme. The new retail building is close to the Royal Blackburn Hospital with its staff identified as key potential customers.

EG on The Move has applied to Blackburn with Darwen Council for planning permission for a ‘commercial development of a new 11,000 square foot retail building incorporating a 4,500sqft food retail convenience store and five smaller speculative retail units including the formation of a new access from Haslingden road, customer parking, and delivery area’.

A supporting statement says: “The site is strategically positioned on Haslingden Road (A6077), Blackburn – approximately half a mile from Junction 5 of the M65 motorway.

“To the north is the Royal Blackburn Teaching hospital. To the east is the existing Shadsworth Industrial estate.

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“The site consists of a vacant greenfield, infill plot of land.

“The proposal submitted for a small-scale retail development supported by the surrounding residential areas and proximity to the hospital and wider industrial areas.

“The intention is to create a small, primarily food, retail convenience store as an anchor to the site bringing footfall from the residential areas and hospital to support the other smaller retail units.

“The small retail units would be ideal for smaller start-up businesses from the local area.

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“The building is set back from Haslingden Road and positioned centrally within the site. This allows for the creation of a new vehicular access and the formation of a car park for visitors.

“The development will also create a new three-metre-wide footpath and cycleway along the Western edge connecting Whinney Heights to the proposed development and Haslingden Road. This will be a huge benefit to the local community.

“The development will initially be constructed speculatively to a shell standard. Internal layouts and fitout will be dictated by the specific tenant.

“Office, storage and staff facilities will be positioned at the rear of the unit with display and retail function at the front making use the glazed front elevation.

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“Careful consideration was given to the Whinney Heights residential area and neighbouring Queens Lodge nursing home.

“Landscaping treatments and acoustic boundaries will mitigate the impact on the neighbours.

“The building has been designed to create a contemporary and inviting retail aesthetic.

“The primary elevation is mostly glazed creating shop front displays and familiar retail access.

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“It is proposed that a new priority right turn lane will be created on Haslingden Road alongside the formation of a new vehicular access point – 50 car parking spaces are to be provided.

“The intended retail function will provide positive amenities for local residents, commuters, employees in the surrounding employment areas and the Royal Blackburn Hospital.”

Last week, EG On The Move acquired independent petrol forecourt operator MPK Garages.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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Century Aluminum Q1 2026 slides: EBITDA surges 35% on pricing strength

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Century Aluminum Q1 2026 slides: EBITDA surges 35% on pricing strength


Century Aluminum Q1 2026 slides: EBITDA surges 35% on pricing strength

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SBI to lend Rs 80,000 crore more to war-hit companies

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SBI to lend Rs 80,000 crore more to war-hit companies
The government’s ECLGS (Emergency Credit Line Guarantee Scheme) allows State Bank of India (SBI) to provide a credit facility of Rs 70,000 crore to Rs 80,000 crore, chairman CS Setty said. He said that the banking sector is hopeful that the scheme can be implemented in the next eight to ten days.

“This scheme is available for everyone and it is an opt-in scheme. We are hopeful that in the next 8 to 10 days implementation issues will be resolved. We are working with various MSME associations on this scheme. Our estimate is that SBI can provide a Rs 70,000 crore to Rs 80,000 crore credit facility through this scheme,” Setty said.

On Wednesday, the Union Cabinet approved ECLGS 5.0 aimed at the country’s micro, small and medium enterprises (MSMEs) and the airline sector, to support these sectors in light of the West Asian conflict. The government said that the latest scheme will enable Rs 2.55 lakh crore in additional credit for eligible business borrowers, including Rs 5,000 crore for airlines facing short-term liquidity stress.

The scheme envisages an additional credit of up to 20% of peak working capital utilised during the fourth quarter of the fiscal year ended March 2026, capped at Rs 100 crore for MSMEs and 100% of working capital for airlines, up to a limit of Rs 1,500 crore per borrower, subject to satisfying certain conditions.

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For MSMEs, the tenor of the loan is five years from the date of first disbursement, including a moratorium of one year, while for airlines it is seven years, including a moratorium of two years. Some sectors not impacted by the West Asia crisis have been left out, such as education institutions, defence, horticulture, power, and sugar.


“This is a proactive measure and the government is clear that there was a substantive scheme which needed to be put in place for MSMEs not to be impacted,” said Financial Services Secretary M Nagaraju.
Earlier on Wednesday, SBI Research said that it expects the scheme to benefit 1.1 crore MSME accounts. “Though it is too early to say about the expected results of ECLGS 5.0…the timely intervention will ensure liquidity support, protect jobs, sustain supply chains, and strengthen the resilience of the Indian economy. Our preliminary estimates indicate that around 1.1 crore MSME accounts (45% of total MSME portfolio) are eligible to get benefit from the scheme, with per account on an average additional credit flow of (Rs 2 to 2.3 lakh),” SBI Research said.

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HubSpot Q1 2026 slides: agentic platform drives 23% revenue growth

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HubSpot Q1 2026 slides: agentic platform drives 23% revenue growth


HubSpot Q1 2026 slides: agentic platform drives 23% revenue growth

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