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World Economy Mar 23, 2026

Japan Taps Emergency Oil Reserves Amid Iran-Israel Conflict

Japan has begun releasing oil from its emergency reserves as the global energy crisis worsens due t…
Japan has initiated the release of oil from its emergency reserves in response to the escalating global energy crisis triggered by the Iran-Israel conflict. The crisis has led to the effective closure of the Strait of Hormuz, a critical waterway for global oil supplies.The decision to release oil reserves was announced on Monday through a notice published in the Japanese government's official gazette. This move follows Japanese Prime Minister Sanae Takaichi's announcement last week to unilaterally release 80 million barrels of oil from stockpiles due to supply concerns arising from Iran's threats against shipping in the strait.The International Energy Agency (IEA) has also pledged to coordinate the release of a record 400 million barrels to mitigate the market impact of the conflict. Despite these efforts, oil prices have surged, with Brent crude rising as much as 3% on Sunday before easing slightly on Monday. As of 05:45 GMT, Brent stood at $104.85 a barrel, marking a more than 40% increase since the start of the war on February 28.Japan, being one of the world's largest oil importers, relies on overseas fossil fuels for about 80% of its energy needs. The country also holds one of the world's largest oil reserves, sufficient to meet 254 days of domestic consumption. Tokyo has stated it has no plans to deploy its navy to the strait following a call from US President Donald Trump for other countries to help unblock the waterway.
#japan #iran #israel
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News Mar 23, 2026

Trump Mocks Starmer with SNL Skit as US-UK Tensions Rise Over Iran War

US President Donald Trump shared a satirical video mocking UK Prime Minister Keir Starmer's relucta…
US President Donald Trump has taken to social media to mock UK Prime Minister Keir Starmer, sharing a Saturday Night Live (SNL) skit that depicts Starmer panicking at the prospect of a call with Trump. The skit, which aired on the premiere of the new British version of SNL, shows Starmer, played by George Fouracres, trying to avoid a call with Trump.The video was shared on the same evening that Trump and Starmer spoke about the escalating tensions in the Middle East and the US-Israel war on Iran. During their call, the two leaders focused on the need to reopen the Strait of Hormuz, which has been effectively blocked by Iran since the US and Israel launched strikes on February 28.The closure of the strait has sent oil prices soaring, creating the biggest energy crisis since the 1970s. Trump has repeatedly criticized Starmer for not doing enough to support the US efforts to break the blockade, accusing him of being a 'coward' and saying he is 'disappointed' in him.Starmer has asserted that any attempt to reopen the Strait of Hormuz needs careful consideration and a viable plan, and that his number one priority is to protect British interests and de-escalate tensions. The UK government has given authorization for the US to use its military bases to carry out strikes on Iranian missile sites that were attacking ships in the Strait of Hormuz.
#starmer #trump #iran
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World Economy Mar 23, 2026

Youth Unemployment Crisis: Calls for Enhanced Support and Policy Reform

The article highlights the pressing issue of youth unemployment and the need for enhanced support s…
The youth unemployment crisis has sparked a call for more comprehensive support for young people seeking jobs. Many argue that the current system fails to adequately address the challenges faced by this demographic, leading to a cycle of rejection, confusion, and anxiety. The need for a revamped support system is underscored by the reality that young people often face significant barriers when entering the job market. The threat of losing benefits for not meeting job search requirements can undermine trust and engagement, making it even more difficult for them to secure employment. To effectively tackle this issue, experts suggest that the government must rebuild trust by removing punitive measures and creating job centers that offer more personalized support. This includes providing young people with the time, resources, and relationships with work coaches who understand their ambitions and can help build their confidence. Young people's voices must be central to shaping the support designed for them. By incorporating their perspectives, the government can create more effective and targeted initiatives that address the specific needs of this demographic. The crisis is also attributed to government policies that have driven employers' decision-making. For instance, national insurance rises and increases in the minimum wage have made young people more expensive to employ, leading companies to opt for older, more experienced workers. Furthermore, the rise in young people out of work due to ill health reflects a deeper erosion of stability. The article argues that secure, humane work is not an optional extra but a public health intervention, highlighting the need for a more comprehensive approach to addressing youth unemployment.
#young #people #work
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Sports Mar 23, 2026

Raheem Sterling Struggles to Regain Form with Feyenoord in De Klassieker

Raheem Sterling's performance for Feyenoord in De Klassieker against Ajax was disappointing, highli…
Raheem Sterling's much-anticipated move to Feyenoord has yet to yield the desired results, as he struggled to make an impact in the highly anticipated De Klassieker against Ajax. Despite having a chance to attack Ajax's right-back Lucas Rosa, Sterling failed to capitalize, and his performance was marred by a lack of match fitness.The 31-year-old English forward, who joined Feyenoord on loan from Chelsea for the remainder of the season, has had a difficult start to life in the Eredivisie. With Feyenoord currently sitting in second place, albeit far behind league leaders PSV Eindhoven, the pressure is on Sterling to deliver results and help the team secure a Champions League spot.Feyenoord's coach, Robin van Persie, acknowledged Sterling's struggles, stating that the player's fitness levels and on-field impact need to improve. Van Persie emphasized the importance of winning matches during this period of Sterling's acclimation, highlighting the need for the team to deliver results.Sterling's performance in De Klassieker was a microcosm of his challenges at Feyenoord so far. Despite showing glimpses of his former self, including a smart first-time ball and some earnest tracking back, he failed to leave a lasting impact on the game. His substitution in the 59th minute was a testament to his underwhelming display.The clock is ticking for Sterling to turn his form around, with Van Persie expressing optimism about the player's potential to improve. However, with only a few months left on his loan deal, Sterling needs to quickly adapt to the Dutch league and prove his worth to Feyenoord and potential suitors.
#feyenoord #ajax #eredivisie
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World Economy Mar 23, 2026

Europe's Clean Power Surge Hindered by Slow Phaseout of Fossil Fuels

Europe has made significant progress in clean power production but lags in phasing out fuel-burning…
Europe has achieved staggering progress in clean power production, but its efforts are being undermined by a slow transition away from fuel-burning machines. According to Adrian Hiel, director of the Electrification Alliance, the EU has radically transformed its power supply but now needs to focus on increasing the use of electricity in everyday applications.The sluggish pace of electrification has left households exposed to higher bills as the Iran war has driven oil and gas prices to soar. The International Energy Agency has called for a faster shift to electric cars and heat pumps to complement its fuel-saving action plan.Hiel emphasized that high taxes on electricity are a major barrier to the green transition, suggesting that electricity should be taxed like a fresh apple, not like alcohol and tobacco. EU leaders, including Ursula von der Leyen, have acknowledged the need to adjust energy taxes to promote clean air and secure energy.The Electrification Alliance, which includes industry associations like SolarPower Europe and the International Copper Association Europe, is pushing for a faster switch to a decarbonized economy. Hiel noted that the falling cost of clean technology has made it easier for people to ditch fossil fuels, citing his own experience of insulating his home and installing a heat pump and solar panels.Looking ahead, Hiel warned that gas prices are likely to remain high for several years, putting pressure on governments to help households pay their bills and potentially hindering efforts to promote home electrification.
#energy #electricity #europe
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Money Mar 22, 2026

Rise in 'Insidious' Friendship Fraud Targeting Older People

A growing trend of 'friendship fraud' is targeting older, vulnerable people who are lonely or berea…
A new and disturbing trend in scams, known as 'friendship fraud,' is on the rise, specifically targeting older people who are lonely or bereaved. This type of scam involves criminals using social media platforms to build relationships with potential victims, often over a long period, before requesting money for various reasons. The scam typically begins with a connection on social media, where the fraudster will research and tailor their initial messages to appear as though they share common interests with the victim. Once a level of trust is established, the scammer will begin to make requests for money, often for small amounts or seemingly urgent needs. According to TSB, the average amount lost by victims of friendship fraud is £3,100. In some cases, victims have lost as much as £4,000 or more over several years. The fraudsters often request payments through bank transfers or gift cards, making it difficult for victims to recover their losses. Experts warn that older people who are lonely or bereaved are particularly vulnerable to these scams, as they may be more desperate for human connection and more likely to trust someone who appears to share their interests. Caroline Abrahams of Age UK describes the fraud as 'especially horrible and insidious,' noting that it can have devastating consequences for victims, including financial loss, health issues, and a breakdown in trust. To avoid falling victim to friendship fraud, experts advise severing contact immediately if someone you met online requests money. If you suspect you or someone you know has been targeted, report it to Report Fraud and discuss it with your bank. Documenting all interactions with the scammer can also help in efforts to recover losses or prosecute the fraudster.
#you #your #older
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World Economy Mar 19, 2026

UK Defence Spending Boost Doesn't Mean Abandoning Global Values

The UK government is increasing defence spending while reducing overseas aid, sparking concerns abo…
The world is currently experiencing unprecedented levels of global instability and insecurity, with multiple conflicts erupting in regions such as the Middle East, Ukraine, Gaza, Sudan, and Lebanon. In response, the UK has increased its defence spending at the fastest pace since the end of the Cold War. This increase is being funded partly through a reduction in overseas aid spending over the next three years, a decision also made by several allied countries. Despite this, the Labour government emphasizes that its commitment to international development remains strong, viewing it as a fundamental part of its moral purpose and national interest. The reduction in aid does not signify a withdrawal from global responsibilities, but rather a strategic shift in prioritizing spending. The government plans to focus on areas with the greatest needs, particularly in fragile and conflict-affected countries such as Sudan, Palestine, Ukraine, and now Lebanon. Support for these regions is crucial for preventing humanitarian crises and promoting global stability. The new approach to development will prioritize: Innovative development strategies that deliver more impactful results Partnerships over paternalism, working closely with countries to build their own capacities Conflict prevention and resolution, particularly through education in conflict zones Climate and nature action to mitigate the effects of extreme weather Unlocking new sources of finance to drive growth and economic development The UK aims to lead reforms in international development, modernizing multilateral institutions and increasing investment in critical areas such as women's health and the BBC World Service. The government asserts that its values have not changed, and it remains committed to justice and global stability, even in the face of new security challenges.
#our #development #not
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Commentisfree Mar 16, 2026

The Guardian View on SUVs: London's Mayor Takes a Stand Against Supersize Cars

The Guardian supports London Mayor Sadiq Khan's efforts to address the issues posed by SUVs, includ…
The typical car has grown significantly in size over the years, with SUVs now accounting for 46% of global new car sales. While they offer more space and a higher vantage point for occupants, they pose significant risks to pedestrians, particularly children, who are 77% more likely to die if struck by an SUV compared to other cars.London Mayor Sadiq Khan is taking steps to address these concerns, including a review of SUVs' environmental impact and potential policy proposals such as higher charges for SUV owners. This move is in line with public sentiment in other cities, where residents have shown support for measures like tripling parking fees for SUVs in Paris and higher parking charges in Cardiff.The UK government can learn from cities like Helsinki and Oslo, which have achieved significant reductions in road deaths and serious injuries. London's ultra-low emission zone (Ulez) has also led to significant air quality improvements since its rollout in 2023. However, the government needs to address the issue of SUVs' large carbon footprints, including their manufacture, which consume about 20% more oil than medium-sized cars.The conversation about the UK's growing number of giant cars needs to accelerate, and Ministers should re-examine the tax system for new SUVs, which are currently taxed far less heavily than in many European countries. By taking bold action, the government can make the city cleaner and safer for its residents.
#suvs #london #environment
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