Valaris secures $300 million drilling contract with Shell in Brazil

BP and Shell have faced significant setbacks in their attempts to pivot towards renewable energy, leading to substantial financial write-offs and a scaling back of their green initiatives. This trend highlights the challenges faced by major energy companies in transitioning to sustainable practices amidst market volatility.

Survivors of a deadly typhoon in the Philippines have initiated a legal claim against Shell, the UK's largest oil company, citing the climate impacts of fossil fuels as a contributing factor to the disaster. This marks the first legal action of its kind in the UK, highlighting the growing accountability of fossil fuel companies in climate-related issues.

Brazil's Central Bank has decided to maintain its key interest rate at 15% for the fourth consecutive meeting, as inflation continues to exceed the bank's target. This decision reflects the bank's cautious approach amid ongoing economic challenges.

The Brazil central bank has decided to hold interest rates steady at 15%, providing no indications of potential cuts in the near future. This decision reflects the bank's ongoing strategy to manage inflation and stabilize the economy amidst persistent economic challenges.