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BREAKING NEWS
GM Sees No Immediate Demand Shift as Iran War Pushes Up Gas Prices
By Bill Pan General Motors has not yet seen a major shift in sales as the ongoing war in Iran drives gas prices up, according to Paul Jacobson, the automaker’s finance chief. Speaking on March 18 at Bank of America’s Global Automotive Summit, Jacobson said it typically takes several months of persistently high oil prices…
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Warner Bros CEO to Collect $667 Million in Paramount Deal
By Andrew Moran Warner Bros. Discovery CEO David Zaslav will collect about $667 million in compensation after the entertainment empire completes its sale to Paramount Skydance. Last month, the company accepted Paramount’s $110 billion proposal, concluding a months‑long bidding contest after Netflix exited the talks. One of the key beneficiaries of the merger will be Zaslav,…
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US Has Flown 8,000 Flights, Struck 7,800 Iranian Targets, CENTCOM Says
By Jack Phillips The United States has flown more than 8,000 combat flights and struck more than 7,800 targets in Iran since the conflict began three weeks ago, U.S. Central Command (CENTCOM) said on March 18, as Iranian state-run media warned of imminent strikes on nearby countries’ oil refineries. On Wednesday, CENTCOM also said U.S.…
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Most NATO Members Won’t Join US–Israel War Against Iran, Trump Says
By Ryan Morgan Most members of the North Atlantic Treaty Organization (NATO) have elected not to wade into the ongoing armed conflict involving the United States and Iran, President Donald Trump said in a March 17 post on Truth Social. Trump made the announcement days after raising calls for the international community to help escort…
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China Has Its Lowest Growth Target in Years—Here’s Why
By Terri Wu China has set its lowest economic growth target in decades for this year, at 4.5 to 5 percent. Beijing has maintained its target at “around 5 percent” for the past three consecutive years, and last year reported a growth rate of exactly 5.0 percent—no more and no less. The regime has long…
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Iran Says Strait Is Closed Only to ‘Enemies,’ But Lloyd’s Says Attacks Show No Clear Pattern
By Victoria Friedman Iran’s foreign minister said on March 16 that the Strait of Hormuz, a strategic waterway vital for global oil and gas shipments, is closed to the United States, Israel, and their allies but open to other countries. “Americans are asking other countries to come and help them so that the Strait of…
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Trump Expects Iran War to End ‘Soon’
By Aldgra Fredly President Donald Trump said on March 16 that he believes the U.S.–Israeli war with Iran could be “wrapped up soon,” but added that it is unlikely to end within the week. During a press conference in the Oval Office, Trump was asked whether he thinks the war could end this week, to…
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Trump Says Some Countries ‘On the Way’ to Help Open Hormuz Strait
By John Haughey President Donald Trump said Monday that several nations will send warships to join the United States Navy in escorting commercial ships through the Strait of Hormuz but expressed disappointment that several key NATO “big boys,” notably the United Kingdom and Germany, have not responded to his call for a joint operation. “Numerous…
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Japan Starts Releasing Stockpiled Oil Amid Iran Crisis
By Owen Evans Japan has begun releasing emergency oil reserves after the Iran War disrupted energy flows through the Middle East and triggered a surge in global crude prices. It will start releasing 15 days’ worth of private-sector oil on March 16 and a month’s worth from the state reserves from late this month, according…
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How the US Can Adjust to Middle East Oil Disruptions
By Kevin Stocklin The U.S.–Israeli war with Iran has brought heightened volatility to energy and equity markets, with the price of oil rising from about $65 per barrel of crude before the war to a high of $119 on March 9, before falling back to its current level of about $100. If oil supplies from…
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