Barclays' profits rose, but loan losses weighed on its first-quarter results. At the same time, oil giant BP’s earnings jumped, largely driven by an exceptional oil trading boom linked to the Iran war.
Uzbekistan is implementing a multi-billion-dollar strategy to boost its export economy by processing more agricultural goods, metals, and minerals domestically. Key targets include $10bn in food processing by 2030 and significant investments in technological metals and steel localization, aiming to increase national revenue and economic security.
Large app companies are lobbying for changes to app store regulations, arguing fees are too high. However, the article contends most small developers pay little or nothing, benefiting from secure ecosystems. The CMA is urged to reform where needed without undermining the successful app economy.
The US oil and gas industry, with White House backing, is lobbying the EU to delay new methane emission regulations for natural gas imports. The industry argues the rules are technically unfeasible and could disrupt supply, while climate advocates fear it undermines efforts to combat climate change.
Morocco's olive oil exports to Spain saw a dramatic 9,979% increase between early 2025 and early 2026, rising from 103 tonnes to over 10,000 tonnes. This surge, driven by a strong Moroccan harvest and preferential EU trade terms, reversed the trade balance, with Spain now importing more than it exports to Morocco. Despite the jump, Moroccan oil still represents a small fraction of Spain's total imports and domestic production.
The ECB has instructed 110 major European banks to develop action plans by October 31 to address cybersecurity threats from advanced AI systems. The European Systemic Risk Board also warned of 'severe' systemic cyber risks from frontier AI models, noting their potential to amplify cyberattacks and create strategic dependencies.
The Bank of England warns the UK faces recession risk if the AI stock bubble bursts, potentially causing a 2.2% GDP fall. Governor Andrew Bailey cited "triple whammy" risks from overvalued AI stocks, slower adoption, and uncertain long-term winners, while ruling out new regulations.
