Oil price falls after Iraq ‘signs deal’ to resume exports via Turkey – business live

The Iraqi state news agency is reporting that Kirkuk has resumed pumping oil via Turkey’s Ceyhan port at a rate of 250,000 barrels.That would only be a fraction of the country’s normal output. Before the Iranian war began, Iraq was producing 4.5 million barrels of crude oil per day. But it was forced to slash output once tankers couldn’t travel safely through the strait of Hormuz

US postal service will run out of money by February 2027, says agency chief

The US Postal Service will run out of funds within a year, unless lawmakers lift a cap on how much money the agency can borrow, according to the postmaster general.In an interview with the Associated Press, David Steiner warned that the postal service – which relies on stamps and service fees rather than tax dollars to deliver mail six days a week to every address in the country – would run out of cash for employees and vendors by February next year.The agency has operated with a financial shortfall almost every fiscal year since 2007, as people and businesses have moved toward paperless billing and digital communication, forgoing first-class mail. But mail deliveries have continued, with USPS borrowing money from the US treasury to compensate for losses.Steiner, who is scheduled to testify before Congress this month, has called for changes to a federal law that caps the agency’s borrowing at $15bn

Instagram to remove end-to-end encryption for private messages in May

Instagram will stop encrypting private messages between users from May, after enduring years of criticism from law enforcement and child safety groups over the feature.Meta quietly announced this month on its help page for Instagram and in an updated 2022 news post that end-to-end encryption would no longer be available on direct messages between users on Instagram from 8 May 2026.It means Meta will be able to see the contents of messages between all users – which so far it only could for those who did not enable encryption.The feature already appeared deactivated for Australian users, when Guardian Australia tested on Wednesday.A spokesperson for Meta said the decision to abandon encryption was due to low uptake

Subnautica 2 publisher’s CEO used ChatGPT in failed bid to avoid paying US$250m bonus to own studio head, court hears

A South Korean gaming publisher who hatched a plan using ChatGPT to remove the heads of one of its own game studios in a bid to avoid paying US$250m has been ordered by a US court to reverse the removal.The dispute stems from South Korean game developer Krafton’s acquisition of Unknown Worlds Entertainment, makers of the Subnautica video game, for $500m in 2021.Krafton agreed the studio would remain independent and that its leadership would retain operational control and could only be fired for cause, according to the ruling by vice-chancellor Lori Will of the court of chancery in Delaware.If Unknown Worlds met certain targets, Krafton would pay the studio what is known as an earnout worth up to $250m.As the studio was last year ramping up to release Subnautica 2, internal projections showed it would trigger the earnout, according to the ruling

From the Pocket: Andrew Dillon needs authenticity and nuance, not AFL talking points

In 2023, the late Sam Landsberger wrote a piece in the Herald Sun recalling how Andrew Dillon came to work at the AFL. Dillon was driving down Punt Road in the early 2000s after playing a game for amateur club Old Xaverians. Senior AFL administrator Ben Buckley, who was recruiting for an in-house counsel, was in the next lane and spotted his former Xavs teammate. “Hey Dills,” he shouted across traffic, “you’re a lawyer, aren’t you?”A quarter of a century later, a line from North Melbourne coach Alastair Clarkson in an interview with Jay Clark jumped off the page on Sunday. “I spoke to Gil [McLachlan] on Tuesday night and he says: ‘This will all be resolved by the end of next week,’” Clarkson said

Venezuela 3-2 United States: World Baseball Classic final – as it happened

The USMark DeRosa does not deliver. His team barely squeaks by the DR in the semis and then falls short v Team Venezuela, with their team of studs unable to capitalize on Bryce Harper’s dramatic, eighth inning, two-run shot that tied the game. They never really hit in this tournament, despite the laundry list of talent up and down the lineup. Aaron Judge is once agains the poster boy for failing to come up with the big hits in big spots – he was hit-less tonight with three strikeouts. For all of Team USA, heading back to Spring Training, that is one bad way to start a very long season