Shell will consider fossil fuel investment in Venezuela, says chief executive

Shell is considering fossil fuel investments in Venezuela worth billions of dollars, according to its chief executive.Wael Sawan said Europe’s largest oil company is weighing plans for production projects off the Venezuelan coast that could begin yielding gas in the next couple of years. “These are opportunities that could potentially be activated within months,” he told CNBC, adding that the company was now awaiting approvals.Shell’s fresh interest in the South American country has emerged a week after Venezuela passed sweeping reforms to its hydrocarbon laws to encourage increases in oil and gas production and foreign investment, in line with calls from the US president, Donald Trump, to revive the industry.Trump called for America’s biggest oil companies to reignite Venezuela’s struggling oil industry after removing the former president Nicolás Maduro last month, but the suggestion received a tepid response from executives, including the chief executive of ExxonMobil, Darren Woods, who said that political stability was vital before investments could take place

Rio Tinto and Glencore abandon revived $260bn merger plan

Rio Tinto and Glencore have abandoned plans for a $260bn merger, walking away from a deal that would have created the world’s largest mining company.Rio Tinto said it was no longer considering a “merger or other business combination” with Glencore after it “determined that it could not reach an agreement that would deliver value to its shareholders”.Glencore said the key terms of the potential offer, which would have seen Rio keep both the chair and chief executive roles, “significantly undervalued Glencore’s underlying relative value contribution to the combined group”.The company added the deal did not adequately value its copper business and growth pipeline, and concluded that the merger was not in the best interests of its shareholders.It marks the third time that talks to combine the two commodities giants have collapsed, after discussions were revived last month

‘Orwellian’: Sainsbury’s staff using facial recognition tech eject innocent shopper

A man was ordered to leave a supermarket in London after staff misidentified him using controversial new facial recognition technology.Warren Rajah was told to abandon his shopping and leave the local store he has been using for a number of years after an “Orwellian” error in a Sainsbury’s in Elephant and Castle, London.He said supermarket staff were unable to explain why he was being told to leave, and would only direct him to a QR code leading to the website of the firm Facewatch, which the retailer has hired to run facial recognition in some of its stores. He said when he contacted Facewatch, he was told to send in a picture of himself and a photograph of his passport before the firm confirmed it had no record of him on its database.“One of the reasons I was angry was because I shouldn’t have to prove I am innocent,” Rajah said

How cryptocurrency’s second largest coin missed out on the industry’s boom

US crypto developer Danny Ryan submitted a proposal in November 2024 to Vitalik Buterin, the founder and symbolic leader of Ethereum, a prominent blockchain powering the world’s second-largest cryptocurrency. Ryan, who had worked for seven years at the Ethereum Foundation (EF), Ethereum’s de facto governing body, suggested that Ethereum could be on the cusp of an era-defining shift.Since its founding in 2014, the foundation had prioritized technical upgrades and had avoided centralizing power while its user base was growing, but Ethereum had now grown up, and the cryptocurrency world around it had grown up, too. The EF could now “exercise a stronger voice” without compromising its ethos of decentralization, Ryan said – and he was open to leading that charge if appointed as the foundation’s new executive director.Ryan told the Guardian that he could see how political tides were changing “overnight”, which informed his proposal

Team GB chief predicts ‘most potent’ Winter Games ever with sights set on eight medals

Team GB have never made anything more than the occasional ripple at the Winter Olympics. Which makes the prediction of Eve Muirhead, Britain’s chef de mission at the Milano Cortina Games, rather extraordinary.“I believe that we are taking one of the most potent teams of athletes that we have taken to a Winter Olympic Games,” she says. “We have the capability to disrupt the norm.”That norm, between 1952 and 2010, was just 12 medals in 16 Winter Games

Feyi-Waboso hands England Six Nations injury scare 48 hours before Wales opener

Immanuel Feyi-Waboso has given England a late injury scare before they start their Six Nations campaign against Wales on Saturday after pulling up in training.The Exeter wing was unable to complete England’s session at Pennyhill Park due to a leg injury with Steve Borthwick’s medical staff investigating its extent on Thursday night.If Feyi-Waboso is ruled out, Elliot Daly would appear the most likely candidate to play on the wing against Wales while Borthwick could also move Tommy Freeman from midfield and introduce Henry Slade or Max Ojomoh at centre. A more radical option would be to move Freddie Steward to the wing and select Marcus Smith, who has been named on the bench, at full-back. Cadan Murley of Harlequins was also named in the squad, but is due to appear for England A against Ireland on Friday night