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On May 17th, CNN reported that multiple sources familiar with the matter revealed that U.S. officials suspect Iranian hackers may be behind a series of intrusions into fuel storage monitoring systems at gas stations in multiple states. Sources stated that the hackers exploited security vulnerabilities in the Automated Tank Measurement (ATG) systems, which are directly connected to the internet and lack password protection. This allowed hackers to gain access and, in some cases, even tamper with the data displayed on the tanks, without altering the actual fuel levels inside. There is currently no indication that these cyber intrusions caused any physical damage or personal injury. However, private security experts and U.S. officials have stated that these incidents have raised security concerns because, theoretically, gaining access to the ATG system could prevent fuel leaks from being detected in a timely manner.According to local media reports, a fire broke out at the Olmeca oil refinery in Mexico early Saturday morning.On May 17th, the Trump administration allowed a sanctions waiver that encouraged the sale of Russian crude oil to expire, despite concerns about tightening global oil supplies and rising fuel costs stemming from the Iran war. This expiration effectively ended the Trump administrations brief easing of sanctions on Russian oil. During this period, previously prohibited oil purchases were permitted. The Trump administration first issued waivers in March of this year, and then renewed them after the initial waivers expired in April. However, both waivers only applied to a portion of Russian crude oil already loaded onto tankers. These waivers have been highly controversial, particularly among the USs European allies. Europe argues that sanctions are a crucial means of cutting off Russian oil revenues and weakening Moscows ability to finance the Russia-Ukraine conflict. However, some countries, including India and Indonesia, have been lobbying the Trump administration to extend the sanctions waivers.Israel Defense Forces: Initial reports indicate that alarms have been raised regarding enemy aircraft infiltration in the Shlomi and Hanita areas. Further details are under investigation.Rocket sirens sounded in Hanita, northern Israel.

According to Australian Retailer Woolworths, Inflation Is Driving Home Dining

Haiden Holmes

Feb 22, 2023 14:10

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Woolworths Group Ltd, a leading Australian retailer, said that an inflation-driven move away from dining out aided in boosting sales, driving its shares higher after its half-year earnings above expectations despite cost challenges.


Since COVID-19 lockdowns in 2020 prompted supermarket hoarding, Woolworths and its smaller competitor Coles Group (OTC:CLEGF) Ltd have witnessed significant fluctuations in Australian customer behavior. As lockdowns were lifted in 2021, and again in 2022, sales slowed as rising energy and labor costs pushed up shelf prices.


Woolworths said on Wednesday that cost-of-living constraints, including skyrocketing electricity prices and nine interest rate rises since May, are now beginning to benefit stores as consumers choose for in-home consumption.


Since the beginning of 2023, food sales have increased 6.5%, roughly in step with inflation, compared to just 2.4% in the six months leading up to the end of December, the business reported.


"The shift from eating in restaurants to eating at home has become more evident," said Chief Executive Brad Banducci to reporters.


He stated that a growing number of clients from all demographic groups are now preparing meals at home since eating out is becoming more expensive.


The company's net profit before significant items increased 14% to A$907 million ($622 million), above the Visible Alpha consensus estimate of A$877 million. The majority of the increase was attributable to employee back pay linked to a prior salaries miscalculation.


Similar to Tuesday's announcement of Coles' interim results, Woolworths' profit increase was aided by a dramatic drop in COVID-19-related expenditures.


At midday, Woolworths shares were up 2%, compared to a 0.3% decline in the overall index, as analysts hailed the potential of profit margin expansion at a business vulnerable to rising supplier prices.


Phillip Kimber, a retail analyst at E&P Financial, wrote in a client note, "The momentum in the core Australian Food industry remains strong, with sales growth rates above expectations in early 2H23."


Woolworths declared an interim dividend of 46 Australian cents per share, up from 39 Australian cents per share the previous year.

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