Shore

A man, woman and teenage girl have died, while a younger girl is in a critical condition, say Sussex policeA couple and their teenage daughter have died after getting into difficulty in the sea off the West Sussex coast, police said on Tuesday.A man, a woman and a teenage girl died after the incident in Shoreham-by-Sea, the chief superintendent of Sussex police, James Collis, said. Continue reading...

Move will be one of first large-scale foreign investments in country since US ousted leader Nicolás Maduro in JanuaryBP has answered Donald Trump’s call for oil companies to help rebuild Venezuela’s fossil fuel industry with new plans to develop a large offshore gasfield.BP will partner with two oil firms with close links to the Trump administration to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in Venezuela since the US ousted its leader Nicolás Maduro in January. Continue reading...

• Shares of major Hong Kong insurers, including Prudential and AIA, slumped following reports that China may introduce taxes on offshore insurance income. • The market reaction stems from investor fears that new tax regulations will discourage policyholders and slow the sales of insurance and other financial products. • This development is significant as it threatens the profitability of insurers heavily reliant on the flow of capital and wealth management services between mainland China and Hong Kong.

Agreement with RWE is fifth deal Trump team has made with energy companies, offering payouts to give up projectsThe German energy company RWE has reached a $1.22bn deal with the US government to relinquish its offshore wind leases and instead redirect funds towards fossil fuel investments.The agreement marks the fifth deal the Donald Trump administration has struck with energy companies, offering payouts in exchange for abandoning renewable energy projects and redirecting investment towards fossil fuels. Continue reading...

• Pakistan has reportedly requested a $10 billion exchange stabilisation facility from the United States to bolster its dwindling foreign exchange reserves. • Finance Minister Muhammad Aurangzeb discussed the request and Pakistan's economic vulnerabilities during a meeting with US Treasury Secretary Scott Bessent in Washington on Tuesday. • The facility is intended to ease severe pressure on the national economy and provide a critical financial buffer against regional geopolitical instability.

PM to declare Australia the first country worldwide to bring economic, social, security and environmental issues from AI under single office in major speechGet our breaking news email, free app or daily news podcastAnthony Albanese says the federal government will introduce faster approval processes for AI projects, including datacentres, across Australia, seeking to shore up investor certainty and maintain community confidence in the rapidly advancing technology.Announcing the creation of a new office of AI to be established within his department in a major speech on Wednesday, the prime minister will declare Australia is set to become the first country in the world to bring the economic, social, national security and environmental issues stemming from AI into a single, national framework. Continue reading...

• Chinese AI and semiconductor firms are driving a projected rebound in onshore IPOs for 2026 as Beijing prioritizes technological self-reliance. • Baidu’s chip unit, Kunlunxin, is reportedly seeking approval for a $2 billion Hong Kong listing alongside plans for a smaller domestic float. • This shift allows the Chinese government to maintain tighter regulatory influence and align corporate funding with national strategic priorities.