British American Tobacco will cut 5,500 jobs and outsource 3,500 more as part of a transformation plan expected to save £600 million a year by 2028. The company said its U.S. business will not be affected.
Posts tagged as “FTSE”
Technology shares fell sharply worldwide as investors questioned whether massive AI spending can support lofty valuations. Chipmakers, Alphabet and newly public SpaceX were among the names hit as the sell-off spread to Asian markets.
Brent crude fell to its lowest level since early March as markets anticipated a US-Iran framework agreement that could reopen the Strait of Hormuz. Shipping groups and analysts warned that restoring normal energy flows could still take weeks or months.
Oil prices fell sharply after Iran declared the Strait of Hormuz open amid a Middle East ceasefire, easing fears of supply disruptions. The announcement boosted global stock markets and lowered U.S. gasoline prices, though uncertainties remain about shipping security and ongoing U.S.-Iran tensions.