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Recent Editions
Risk Channel
North America
U.S. Customs and Border Protection (CBP) said on Tuesday that $20.6bn in tariff refunds is being prepared for distribution to importers that successfully filed claims through a new government web portal established after the Supreme Court overturned a large portion of President Donald Trump’s tariffs. The agency also acknowledged that a previously reported $35.5bn in refund claims had been overstated by about $10bn because of a data-query error, with the corrected figure closer to $25bn. CBP said approximately $85bn in potential and certified refunds had been accepted for processing as of May 22nd, while nearly 16m import entries are currently moving through the refund program.
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Risk Channel
UK/Europe
UK energy giant BP has removed chair Albert Manifold with immediate effect. The oil firm was reportedly concerned over allegations of "bullying" and "overbearing" behaviour. In a statement, the firm cited "serious concerns" related to "important governance standards, oversight and conduct." Senior independent director Amanda Blanc said BP's board had been "surprised and disappointed" to learn of "issues it deems unacceptable," adding that the firm "has taken decisive action." Senior independent director Ian Tyler has been appointed interim chair. Manifold, who joined BP in September 2025 as a non-executive director, was appointed chair the following month.
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