Business — May 16, 2025

### U.S. Nears Deal with Iran Affecting Oil Markets Crude oil prices slipped nearly 3% after President Donald Trump suggested that the U.S. is approaching a nuclear agreement with Iran. If finalized, this deal could lift significant sanctions on Iran, allowing increased oil exports that might flood the international market. Notably, Brent crude was trading at $64.6 per barrel, while West Texas Intermediate Crude stood at $61.7 per barrel. Trump’s comments coincided with a report showing increased U.S. crude inventories, further influencing market dynamics. [Read more](https://seekingalpha.com/news/4449326-oil-prices-slide-after-trump-says-us-close-to-deal-with-iran) ### Marks & Spencer Struggles Post Cyber Attack Marks & Spencer reports better stock availability after a severe cyber-attack led to substantial disruptions. While the grocery division is recovering and ready for a busy BBQ weekend, the website and app remain offline. Retailers like Harrods and the Co-op have also been targeted, though Co-op managed quicker recovery by taking systems offline. M&S faces significant financial implications with losses estimated at £43 million weekly due to the ongoing cyber issue. [Read more](https://www.dailymail.co.uk/money/markets/article-14716831/Cyber-crooks-wont-spoil-BBQ-weekend-says-M-S-claims-stock-levels-normal.html) ### Demand Lags for Electric Vehicles Despite Increased Offerings Despite a 28% rise in available fully-electric vehicle models, consumer demand remains insufficient, warns the Society of Motor Manufacturers and Traders (SMMT). The lack of demand threatens to derail government Net Zero goals despite recent regulatory flexibilities. The SMMT calls for incentivized policies to boost sales, such as tax breaks and expanded charging infrastructure investment. [Read more](https://www.dailymail.co.uk/money/article-14715843/Two-five-new-cars-showrooms-EVs-despite-plenty-supply-theres-insufficient-demand.html) ### U.S. S&P 500 Entrant Coinbase Faces Cybersecurity Challenges Coinbase’s stock has surged following its announcement of joining the S&P 500. However, the cryptocurrency exchange also revealed significant losses due to a cyber-attack, costing the firm potentially up to $400 million. This setback emphasizes ongoing vulnerabilities within the fast-expanding financial technology sector where investor confidence is crucial. [Read more](https://www.dailymail.co.uk/money/crypto/article-14716699/Coinbase-surges-S-P-500-debut-cyber-attack-dampens-share-gains.html) ### You May Also Be Interested In... - **British Gas Offers Energy Cost Breaks:** British Gas gives nearly 1 million customers a 50% discount by shifting energy use to low-demand times. [Read more](https://www.dailymail.co.uk/money/bills/article-14714997/British-Gas-cuts-electricity-costs-50-nearly-1m-customers-certain-times-week.html) - **Rising U.S. LNG Prospects:** Canada’s stance on existing pipelines and a broader strategy amid evolving energy demands. [Read more](https://financialpost.com/commodities/energy/oil-gas/canada-maximize-existing-pipelines-minister) - **Public Equity Markets Update:** Etoro sees share price surge post-IPO; potential considerations for UK investors? [Read more](https://www.dailymail.co.uk/money/investing/article-14716365/Etoro-shares-jump-29-IPO-US-buy-UK-investors.html)

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