Demand destruction fears rise after Iran war drove up oil and gas prices; UK government borrowing jumps – business live

JP Morgan have published a very interesting note on the demand destruction theme, which FT Alphaville have covered here.They’ve examined the economic damage that the oil market crisis is beginning to cause in Asia, and report:double quotation markDiesel has emerged as the region’s immediate choke point, with surging prices slowing both travel and freight. Governments are responding with a mix of demand management and emergency measures. Bangladesh brought forward the Eid-al-Fitr holiday and allowed universities to close early to save fuel. The Philippines and Sri Lanka instituted four‑day workweeks to curb diesel use and stretch dwindling stocks

Work from home and slow down on the road: world’s energy watchdog advises emergency measures as oil prices rise

The world’s energy watchdog has advised governments to reduce highway speeds and encouraged workers to carpool or, ideally, work from home to combat soaring oil prices and impending fuel shortages caused by the Middle East conflict.It has also recommended countries consider limiting car access to designated zones in large cities, by giving vehicles with odd-numbered plates access on different weekdays to those with even-numbered plates.The International Energy Agency (IEA) has advised member countries, including Australia, the UK and the US, to take the emergency measures to curb oil demand, following the military strikes on Iran that have triggered the most significant supply disruptions in the history of the global oil market.It comes amid concerns that crude oil imports from Australia’s top Asian suppliers are at risk, as countries scramble to shore up their own reserves.Last week, the IEA ordered the largest release of government oil reserves in its history to help calm the oil price shock

Meta AI agent’s instruction causes large sensitive data leak to employees

An AI agent instructed an engineer to take actions that exposed a large amount of Meta’s sensitive data to some of its employees, in the latest example of AI causing upheaval in a large tech company.The leak, which Meta confirmed, happened when an employee asked for guidance on an engineering problem on an internal forum. An AI agent responded with a solution, which the employee implemented – causing a large amount of sensitive user and company data to be exposed to its engineers for two hours.“No user data was mishandled,” a Meta spokesperson said, and they emphasised that a human could also give erroneous advice. The incident, first reported by The Information, triggered a major internal security alert inside Meta, which the company has said is an indication of how seriously it takes data protection

Why is the FBI buying people’s location data and how is it using the information?

Kash Patel’s disclosure Wednesday that the FBI has resumed buying location data on Americans has many people, including members of Congress, wondering: how does private information get into the hands of the US government in the first place – and how can federal law enforcement use that information to track peoples’ whereabouts?Federal law enforcement agencies generally must obtain a warrant, which requires establishing probable cause in the eyes of a judge, to gather historical or real-time cell phone location data. The US supreme court has ruled that the fourth amendment to the US constitution, which protects against “unreasonable search and seizure”, prohibits the warrantless collection of individuals’ location histories. Buying such information, usually en masse, can circumvent this requirement, leading many privacy advocates to label the practice unconstitutional.The FBI director’s admission came in response to a question from Ron Wyden, a Democratic senator of Oregon and a longtime opponent of the warrantless surveillance of Americans. Wyden told Patel that his predecessor, Christopher Wray, testified in 2023 that the FBI did not at that time purchase location data derived from internet advertising, although he acknowledged that it had done so in the past

Chess: Scotland’s Freddy Waldhausen Gordon, 15, routs the English in British Rapidplay

Freddy Waldhausen Gordon, a 15-year-old from George Heriot’s school, Edinburgh, came through with a stunning burst to capture the annual British Rapidplay championship in Peterborough with a score of 9.5/11, defeating the top seeded GM, Gawain Maroroa Jones, in the final round in a must-win game by a checkmating attack where White’s queen and both rooks all invaded Black’s rear rank.Maroroa Jones was in trouble early in the decisive game, soon had to concede rook for knight, and a second loss of the exchange followed at move 32. At the end, 39 Rxg7+ and 40 Qg8 mate could only be delayed by Black giving up his queen.It was the 37th staging of the British Rapidplay, whose fast time limit of all the moves in 15 minutes for each player, plus a 10 seconds increment per move, makes it possible to hold an entire 11-round tournament in a single weekend

Teen sensations are meant to be one in a million so why does it feel as if prodigies are taking over? | Emma John

From Max Dowman to Kimi Antonelli, Sky Brown and Luke Littler, peak performance can be attained ever earlier thanks to support and scienceDes Ryan lives on the west coast of Ireland and gets over to watch Arsenal only about three times a season. It was pure fluke that the director of sports and physical wellbeing at the University of Galway was at the Emirates Stadium last weekend, when Max Dowman became the youngest ever scorer in the Premier League. Only a few years ago he was looking after Dowman in the under-12s.“If you’re an academy specialist, then seeing the young people get their debuts, that’s your trophy,” says Ryan, who headed the Arsenal academy’s athletic development for nine years. He knows well that while Dowman’s abilities are uniquely precocious, his situation isn’t