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Shell is poised to report a substantial increase in profits from its commodity trading activities in the first quarter, driven by recent market volatility sparked by the Iran crisis. The energy giant's chemicals and products unit, which encompasses its primary oil trading desk, is expected to see a significant boost in trading results.The company's trading windfall is particularly notable in its renewable energy division, with predicted earnings ranging from $200m to $700m in the first quarter, up from approximately $100m in the previous quarter. This surge is attributed to the historic price rises in oil and gas markets following Iran's retaliation to US-Israeli aggression, which included throttling energy trade through the Strait of Hormuz and launching strikes against key energy infrastructure in the Gulf region.However, Shell's gas production is expected to decline by about 5% to between 880,000 and 920,000 barrels of oil equivalent per day, compared to 948,000 in the fourth quarter, due to the impact of the Middle East conflict on its assets in Qatar. A strike damaged Shell's assets at the Ras Laffan liquified natural gas (LNG) complex in Qatar, contributing to the expected decline.Despite these challenges, Shell's boss, Wael Sawan, has warned that Europe could face an energy and fuel shortage in April without a reopening of the Strait of Hormuz. The company is working with governments to address the oil and gas supply crisis, which has already led to energy rationing in some Asian countries.

The Trump administration has filed an emergency motion to resume construction on its White House ballroom project, citing national security concerns. The project, which has been temporarily halted by a court decision, is estimated to cost nearly $400m and has sparked controversy over its potential impact on the White House's historic design.Lawyers for the Trump administration and the National Park Service have called the court decision to pause construction 'shocking, unprecedented, and improper'. They argue that the court-ordered suspension has left a 'massive excavation' site next to the executive mansion, threatening grave national-security harms to the White House, the President and his family, and the President's staff.The motion outlines various security measures slated to be incorporated into the ballroom project, including drone-proof roofing materials and glass meant to withstand bullets and blasts. 'Time is of the essence,' the motion reads.The court filing is the latest response from the Trump administration to a March 31 ruling from Judge Richard Leon, an appointee of former Republican President George W Bush. Judge Leon had issued a 35-page ruling ordering construction on the project to stop, citing the need for congressional approval for a project so transformative.The Trump administration has appealed Leon's injunction against the project and has claimed broad authority to make changes to the White House, citing past renovations under earlier presidents. The project has grown from a $200m structure to a nearly $400m one, by current estimates, and is set to span 90,000 square feet.

Chelsea Football Club has reported a staggering £262.4m pre-tax loss for the 2024-25 season, shattering the previous English football record held by Manchester City. The substantial loss is primarily attributed to increased operating costs compared to the previous season. The club's financial report reveals a significant downturn from the £128.4m profit recorded in the 2023-24 season, which was largely bolstered by the sale of Chelsea's women's team for nearly £200m. In contrast, Chelsea's latest financial statements reflect a challenging period for the club. According to a UEFA report, Chelsea's losses for the 2024-25 season were even higher, estimated at €407m (£355m). However, club sources indicate that these figures are influenced by differing reporting requirements in European football. In addition to the financial loss, Chelsea disclosed that they had spent £65.1m on agents' fees, the highest in the Premier League, with Aston Villa being the next biggest spenders at £38.4m. The total spend on agents' fees across English top-flight clubs rose by 13% to £460.3m. Despite the record loss, Chelsea assured compliance with the Premier League's profitability and sustainability rules (PSR), which permit maximum losses of £105m over three years, with certain expenditures like infrastructure and youth development being 'added back.' Chelsea reported revenue of £490.9m, the second-highest on record for the club, including earnings from their participation in the Club World Cup. The club is forecasting revenue of over £700m for the 2025-26 season. Sources close to Chelsea express confidence in their financial structuring and anticipate compliance with all regulatory requirements, including UEFA's football earnings rule, following a €20m fine for previous breaches.

Lachie Kennedy has once again outshone his fellow Queenslander, Gout Gout, in a captivating display of athleticism at the Maurie Plant Meet on Saturday. The 200m Peter Norman Memorial race saw Kennedy claim victory with a time of 20.38 seconds, despite challenging weather conditions.Gout Gout, just 18 years old and four years Kennedy's junior, put up a formidable fight but ultimately finished second, five hundredths of a second behind the winner. The young athlete expressed his determination to improve, stating, 'Today he got the win, but next time I’ll be better for sure.'Kennedy's win was a testament to his skill and strategy, as he managed to hold off Gout's late surge. The Queenslander had already impressed in the 100m event earlier in the evening, securing a time of 10.03 seconds despite blustery conditions.The rivalry between Kennedy and Gout has become a highlight of the Australian athletics season, drawing comparisons to iconic sporting duels. With the Brisbane 2032 Olympics on the horizon, their formative battles are set to captivate audiences in the lead-up to the Games.The event, attended by nearly 9,000 fans at Lakeside Stadium, showcased not only the prowess of Kennedy and Gout but also remarkable performances from other athletes. Cam Myers recorded the fastest 1500m time in Australia, while Claudia Hollingsworth and Nina Kennedy also delivered standout results in their respective events.

The race for the 2027 Oscars is already heating up, with several talented filmmakers and actors poised to make a strong impact. Aaron Sorkin, known for his acclaimed screenplays, is working on The Social Reckoning, a film focusing on the 2021 Facebook leak, which could earn him another Oscar nomination.Sandra Hüller, fresh from her success in Anatomy of a Fall and The Zone of Interest, is set to star in the $200m sci-fi adventure Project Hail Mary alongside Ryan Gosling. Her role in the upcoming cold war drama 1949 could also generate Oscar buzz.Charles Melton, who gained recognition for his performance in May December, is lined up for two festival-primed projects: Her Private Hell and Saturn Returns from Sing Sing. The latter, a sweeping romantic drama, could attract Academy attention.Japanese director Ryusuke Hamaguchi, who won nominations for Drive My Car, is working on a new film, a mix of French and Japanese influences, which could secure him another Oscar nod.Ruth Madeley, known for her roles in Doctor Who and Years and Years, is set to star in Being Heumann, a biopic about pioneering disability rights activist Judith Heumann, which could lead to her first Oscar nomination.Sebastian Stan, following his Golden Globe win for A Different Man and Oscar nomination for The Apprentice, will star in Fjord, a drama that could boost his chances of another Academy nomination.Octavia Spencer is set to star in a new adaptation of Death of a Salesman, which could earn her another Oscar nomination, given her track record of critically acclaimed performances.Jack O’Connell, after his success in 28 Years Later: The Bone Temple and Sinners, will lead in Danny Boyle’s adaptation of Ink, a 60s-set Fleet Street drama.Parker Posey, who impressed in The White Lotus, has been cast in Martin McDonagh’s Wild Horse Nine, which is likely to receive Oscar nominations.Andrew Garfield will play OpenAI CEO Sam Altman in Artificial, a film about the behind-the-scenes drama at OpenAI, and also star in The Uprising, a historical drama about the English peasants’ revolt of 1381.