BP

The Reserve Bank of Australia has raised its cash rate by 25 basis points and warned that further increases are likely as inflationary risks build. The decision lifts borrowing costs for Australian households and businesses, and analysts are weighing how aggressive the bank may need to be as price pressures persist.

Attention is on the Reserve Bank of Australia's September meeting, where markets and analysts widely expect a 25 basis point interest rate increase. The anticipated move reflects growing concerns that inflation risks in Australia are building again, and traders are positioning for a tighter policy stance.

New York City has subpoenaed Elon Musk and his artificial intelligence company xAI as part of an investigation into AI safety. The move makes the city one of the most prominent US local governments to target a major AI developer directly, and it adds regulatory pressure for Musk, whose AI business is already drawing scrutiny alongside his other ventures.

Indonesia's government will provide a $1.1 billion capital injection into BPJS Kesehatan, the state agency that runs the country's universal health insurance scheme. The move is aimed at strengthening the insurer's finances as it covers the medical costs of hundreds of millions of Indonesians under one of the world's largest single-payer health programs.

The Trump family's business empire is reportedly bracing for a wave of congressional subpoenas should Democrats retake control of Congress. According to the report, Democratic majorities would enable House committees to investigate the former president's company's finances, deals and foreign ties, opening a new legal front around the family enterprise.

BP is weighing a sale of its Brazilian biofuels business, according to a Bloomberg News report picked up by Reuters. The potential divestment would mark a retreat in one area of the company's renewables push as it reassesses its energy transition strategy and works to streamline operations and shore up its balance sheet.

Sudan's paramilitary Rapid Support Forces are extracting transit fees from oil passing through Heglig, where pumping continues at around 26,000 barrels per day. The report underscores how control of key oil infrastructure in South Kordofan has become a revenue source for the RSF during Sudan's war, complicating Khartoum's finances and oil export arrangements.

BP workers locked out of their jobs are picketing outside the company's refinery in Indiana amid a dispute over a new labor contract. The standoff between the oil major and its unionized workforce has halted normal operations for the affected employees, who are demanding better terms. The action adds to scrutiny of labor relations in the US energy sector.

Technology firm Leidos has won a $129 million blanket purchase agreement to support electronic health records systems for US Immigration and Customs Enforcement. Under the deal, Leidos will provide technical and operational support for medical record systems used across ICE detention facilities. The contract adds to Leidos' large federal health IT portfolio and comes as immigration detention conditions and detainee medical care remain under scrutiny.

Nigeria's refining capacity is approaching 1.5 million barrels per day of crude demand, a level that could tighten domestic and international crude supply as local refineries ramp up processing. Rising refinery intake may leave less crude available for export, with potential implications for Nigeria's oil revenues, global supply balances and domestic fuel availability as the country works to process more of its own output.