The IEA will reintroduce a “current policies scenario” in its upcoming energy outlook to reflect existing policy pathways. Facing criticism from Energy Secretary Chris Wright—who has threatened U.S. withdrawal—the move aims to rein in aspirational forecasting while maintaining relevance amid political and methodological scrutiny.

The US government is considering taking a stake in Intel using Chips Act funds, boosting the company’s share price. Talks follow recent tensions between the president and Intel’s chief executive. No deal has been confirmed, and the White House calls the reports speculative. The move could expand state involvement in technology.

Trump Expands 401(k) Options to Include Private Equity and Cryptocurrency.

South Korea secures $350bn US deal, cutting tariffs and pledging major investment and energy purchases.

Coinbase has appointed Democratic strategist David Plouffe to its advisory council, deepening its bipartisan political strategy amid expanding crypto lobbying efforts. The move follows record industry spending and aligns with a broader push to influence emerging legislation in Congress during a favourable shift under the Trump administration.

U.S. crude oil production is expected to fall in late 2025 and into 2026, marking the first annual drop since the pandemic. Lower rig counts, weaker prices, rising costs, and potential tax changes are contributing to the slowdown, casting doubt on the long-term viability of energy dominance ambitions.

Tesla shares fell 14.2 per cent after Elon Musk criticised Donald Trump’s fiscal policies, prompting threats to cut subsidies. The political fallout erased $150 billion in market value and triggered wider losses in the electric vehicle sector, raising fears of regulatory retaliation against Musk-linked companies.

Elon Musk has sharply criticised Donald Trump’s proposed tax bill, calling it a “disgusting abomination.” The legislation, which increases defence spending and cuts social programmes, faces opposition in the Senate. Musk’s remarks have deepened divisions within the Republican Party over the bill’s fiscal impact and policy direction.

A U.S. federal court has struck down President Trump’s global tariffs, ruling they exceed the limits of the International Emergency Economic Powers Act. The administration has appealed, insisting trade talks remain on track. The ruling affects Executive Order 14257 but leaves other trade measures intact, pending further judicial review.

Elon Musk has stepped down from his advisory role in the Trump administration after criticising a major tax and spending bill. His departure ends a 130-day tenure focused on federal cost-cutting and coincides with investor pressure to refocus on Tesla and SpaceX amid recent business challenges and political tensions.