Daily Recap

Monday, 18 May 2026

Global business news is being shaped by a mix of geopolitics, consolidation and resource nationalism. In Spain, Shakira won a high-profile tax case after the High Court ruled authorities failed to prove she was a tax resident in 2011, ordering a reimbursement worth tens of millions of euros and underscoring the reputational and financial stakes of aggressive tax enforcement. Energy markets, meanwhile, remain on edge: Washington has extended for 30 days a waiver allowing some Russian oil cargoes already at sea to reach vulnerable buyers, a pragmatic response to supply strains tied to disruption around the Strait of Hormuz. In the U.S., NextEra is reportedly pursuing a $67 billion takeover of Dominion, a sign that utilities are bulking up to meet AI-driven power demand. And in the global mining race, Australia forced China-linked investors to exit rare earths producer Northern Minerals, while Anglo American sold Australian coal assets for up to $3.9 billion as it refocuses its portfolio.

Recap for Monday, 18 May 2026

Photos from today's Business coverage
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