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Offices are full again but restaurants are selling fewer lunches than they did in 2020, the depths of the pandemic

The British energy company said Lund is likely to step down sometime next year, as activist investor Elliott Management pushes for changes at the British oil major.

Oil majors are suffering after eight OPEC+ countries unexpectedly agreed to increase oil output in May, while tariffs imposed by U.S. administration had a muted effect on the sector, Eni's top executive Francesco Gattei said on Friday. He added that energy groups could react to the possibility of tariffs denting global economic growth, reducing demand for power. The actual increase in OPEC+ production could result lower than announced when taking into account a stricter U.S. embargo on Venezuela and the potential drop in Kazakhstan's oil flows, Gattei added, speaking on the sidelines of a business conference.

Spain's crude oil imports from Venezuela in January and February rose roughly 59% from a year earlier as a key sanctions deadline set by U.S. President Donald Trump's administration approaches. In the first two months of 2025, Spain imported 449,000 tons of crude from Venezuela, up from 283,000 tons in the same period last year, according to data released on Friday by Cores, an arm of Spain's energy and environment ministry. U.S. authorities announced last week a 25% tariff on goods from countries buying Venezuelan crude and gas and moved to revoke authorisations it had granted to foreign partners of state-run oil company PDVSA to operate and export from the OPEC nation.

NEW YORK (Reuters) -Shares of Yeti Holdings tumbled in December and again in March when President Donald Trump threatened tariffs against China, where the company had some of its biggest factories. Behind the headlines, Yeti, the Austin, Texas-based maker of $300 coolers and $40 travel mugs, was facing another problem. Hedge fund Engaged Capital was pushing management to return cash to shareholders, expand into new geographies, and be more transparent with investors, according to people familiar with the talks.

WASHINGTON (Reuters) -President Donald Trump's new tariffs are "larger than expected" and the economic fallout including higher inflation and slower growth likely will be as well, Federal Reserve Chair Jerome Powell said on Friday in remarks that pointed to the potentially difficult set of decisions ahead for the central bank. "We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation," undermining both of the Fed's mandates of 2% inflation and maximum employment, Powell said in prepared remarks for a business journalists' conference in Arlington, Virginia. Powell spoke as global markets continued a swoon that has wiped some 10% off major U.S. stock indexes since Trump announced a raft of new tariffs on Wednesday.

Losses in the S&P 500 and Nasdaq [.N]steepened after Federal Reserve chair Jerome Powell said President Donald Trump's new tariffs are "larger than expected" and the economic fallout including higher inflation and slower growth likely will be as well, pointing to the potentially difficult set of decisions ahead for the central bank. The global selloff in stocks came amid a move into low risk assets like U.S. government bonds even as safe-haven gold recoiled from Thursday's record high along side a further slide in crude oil on fears that a trade war would cause a global recession,.