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Conservative influencer Charlie Kirk killed at Utah University event
Trump confirmed that U.S. right wing activist Charlie Kirk, a prominent ally of Donald Trump, had been fatally shot Wednesday in the neck at an event held at a Utah University. "The great, and even legendary, Charlie Kirk is dead. Charlie Kirk was the only person who truly understood the youth of the United States of America. Trump posted on Twitter that he was loved and respected by all, but especially me. He is now no longer among us. A spokesperson for the university said that police do not have any suspects in custody. The school reported earlier that someone was detained. Social media clips show Kirk addressing an outdoor crowd on the Utah Valley University Campus in Orem (Utah) when a loud sound that sounded similar to a gunshot was heard. Kirk moved his hands toward his neck when he fell from his chair. This sent the audience running. Kirk's blood is seen flowing from his neck in another clip. The authenticity of these videos has not been confirmed. Kirk and Turning Point USA - the largest conservative youth group in the United States - played a major role in driving the support of young voters for Trump during the November election. Kirk's Wednesday appearance was the first of 15 planned "American Comeback Tours" in universities across the country. Kirk would often use such events to invite students to debate him in person. Kirk sat at a table he called "Prove Me Wrong", where he would take questions from the crowd. ""WE. ARE. SO. BACK. Kirk wrote ahead of the event that Utah Valley University was "FIRED UP" and "READY" for the first stop on the American Comeback Tour. Kirk was credited by Trump for his success in attracting younger voters, as well as voters of color. Trump told a crowd in Phoenix, Arizona in December that "You had Turning Point’s grassroots armies." "It is not my victory. It's yours." Kirk was followed by 5.3 million people on X. He also hosted a popular radio and podcast program called "The Charlie Kirk show." Kirk co-hosted Fox & Friends on Fox News. He was a part of a network of conservative influencers who were pro-Trump, including Jack Posobiec and Laura Loomer. They helped to promote the agenda of President Trump. Kirk was known for his provocative attacks on the mainstream media, and culture wars around race, immigration and gender. The motive of the shooting remains unknown. However, the United States has been experiencing its longest period of political violence in the past 40 years. Since January 6, 2021, when Trump supporters attacked the U.S. Capitol, more than 300 violent political acts have been documented. Trump was hit by a bullet from a gunman in July 2024 during a campaign rally in Butler, Pennsylvania. Federal agents foiled a second assassination two months later. An arsonist set fire to the Pennsylvania Governor Josh Shapiro’s home in April while his family was still inside. A gunman impersonating a Minnesota police officer shot and killed Senator John Hoffman, his wife and state legislator Melissa Hortman earlier this year. In Boulder, Colorado, an attacker used Molotov cocktail and a homemade flamethrower to attack a support event for Israeli hostages. One woman was killed and at least six others were injured. Following the shooting, both Republican and Democratic politicians showed their support for Kirk. Kirk's close friend, Vice President JDVance, wrote, "Eternal Rest grant him, O Lord." Gavin Newsom, Democratic Governor of California, said on X that the attack on Charlie Kirk was disgusting, vile and reprehensible. "In the United States of America we must reject all forms of political violence." As the news of the shooting spread, White House staff, many of whom were young and fans of Charlie Kirk, wore a sad expression. Reporting by Brad Brooks; writing by Joseph Ax, editing by Paul Thomasch, Rosalba o'Brien and Rosalba Thomasch; reporting by Helen Coster; Jasper Ward; Jim Oliphant; Andrea Shalal; Andrew Hay; Jana Winter; and Julia Harte.
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US lawmakers ask Trump to cancel the plutonium fuel project over concerns about proliferation
Democratic U.S. legislators on Wednesday called for President Donald Trump's cancellation of a plan that would make surplus plutonium derived from Cold War era atomic weapons available to nuclear power operators as fuel, citing a proliferation threat. In May, Trump signed executive orders that directed the government to stop a large part of its current program to dilute plutonium and dispose of it and to instead use it as fuel for advanced nuclear technology. The administration announced last month that it would make about 20 metric tonnes of plutonium, which was derived from decommissioned nuclear warheads, available as fuel for potential reactors. Why it's important Plutonium, a material fissile, could be used to create nuclear weapons by militants. It is unlikely, but possible. The lawmakers claim that transferring government-held plutonium into private industry will increase the risk of nuclear weapon proliferation throughout the world. The reasoning is that if the U.S. uses old plutonium for reactors, it can't effectively deter other countries from using their own plutonium. Supplies of this material can be created by reprocessing nuclear waste. KEY QUOTE "Trump wants enough plutonium to make 2,000 atomic weapons and give it to the private sector just to please his wealthy buddies," said Senator Edward Markey who, along with two Democrats from the U.S. House of Representatives, signed the letter. "He could just as easily sell nuclear weapons at Costco. We know who to blame if this material turns up in Iran. The White House didn't immediately respond to an inquiry for comment. Trump's executive order also called for the halting of the government program to dispose surplus plutonium through diluting and burying. Supporters of the use of radioactive plutonium say that militants could harm themselves if they handled it, and only nuclear workers are qualified to handle it safely. (Reporting and Editing by Marguerita Chôy)
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RaceTrac, a convenience store operator, will buy Potbelly sandwich chain for $566 Million
RaceTrac has agreed to purchase sandwich chain Potbelly Corp. for $566 million. This is a rare decision for a convenience-store operator to acquire a restaurant. According to a press release, RaceTrac family-owned convenience stores, RaceTrac RaceWay, and Gulf, will launch a tender to purchase all outstanding shares of Potbelly at $17.12 each. Potbelly directors and executives have all agreed to tender their shares. This represents around 11% Potbelly common stock. Potbelly's shares rose more than 30% to $17 per share on Wednesday following the announcement of the deal. The deal represents a 47% premium over the 90-day average volume-weighted price of the company. Industry experts say that convenience store chains often have franchise agreements with restaurants. However, it is rare that they buy a restaurant brand outright. RaceTrac in Atlanta, Georgia wanted to add a new restaurant to its convenience store portfolio. The two companies negotiated this deal without a formal auction, according to people familiar with the situation. In recent years, private equity firms have been among the most active purchasers of sandwich chains. Blackstone bought Jersey Mike's last year for $8 billion and Roark Capital which owns Jimmy John's will buy Subway for $9.55 billion in 2023. Sources added that the deal today could encourage other restaurants to look at convenience store chains as possible buyers. Potbelly's first location was in Chicago, Illinois in 1977. It now has over 445 locations. RaceTrac has more than 800 RaceTrac, RaceWay and Gulf locations in 14 States and approximately 1,200 Gulf locations throughout the U.S. In the announcement of the deal, both companies highlighted their common capabilities in real-estate, franchising and operations, as well as food innovation, marketing, and food innovation.
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LBMA calls the White House's tariff update on gold bar a 'welcome' development
The London Bullion Market Association stated on Wednesday that the White House's update to its tariff schedule was a "welcomed development" following challenges caused by a U.S. Customs decision on gold bars. The executive order issued by Donald Trump on 5 September updates the tariff schedules for some goods, including gold products. The White House called them reciprocal tariffs. The update will see gold bars imported into the United States from countries that are "aligned partners" under certain codes in the Harmonized Tariff schedule of the United States, including 7108.11.00 and 7108.12.50. It also includes 7108.13.10 7108.13.55 7108.13.70 7108.20.00, which will be subject to a 0% duty on all entries after September 8, 2025. The LBMA described the move as a "significant and beneficial step for the industry", following the uncertainty created by a recent U.S. Customs and Border Protection decision. CBP's website had suggested earlier in August that gold bars commonly traded could be subjected to country-specific duties, which led some traders to suspend shipments into the U.S. until further clarification. On August 11, Trump tried to calm the markets by posting on his Facebook page that "Gold won't be Tariffed!" He did not provide any further information. The association stated that it would continue to monitor developments, and will provide updates as necessary. It noted ongoing discussions with its members, market infrastructure providers, and authorities in Europe, the U.S. and the UK regarding tariffs on silver. The LBMA clarified that kilobars are classified under REACH, the UK's chemical regulation. According to the LBMA and the UK Health and Safety Executive, kilobars imported into the UK as investment products can be classified as "articles" and exempted from registration. LBMA stated that kilobars used for jewellery manufacturing, or other industrial purposes, can still be classified as chemical substances.
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US court is inclined to reject motion to disqualify Elliott's bid for Citgo parent
In a Wednesday filing, Judge Leonard Stark stated that a Delaware court was inclined to deny the motion filed by Gold Reserve last month to disqualify an affiliated hedge fund Elliott Investment Management's bid to purchase Citgo Petroleum, a Venezuelan-owned refiner. Next week, the court will begin the final hearing in the court-organized sale of shares to pay creditors who have been owed money for expropriations or debt defaults that Venezuela has made. The hearing follows the selection of the $5,9 billion bid by Elliott's Amber Energy affiliate as the best offer in the auction. This choice was met with objections by several parties, and Gold Reserve filed a motion to strike. The court officer who oversees the auction did not recommend a competing bid by Gold Reserve affiliate Dalinar Energy, even though it had been raised to $7.9 Billion last month. Gold Reserve, Venezuelan lawyers and other creditors objected to Amber's bid. They said that an agreement to pay $2.1billion to holders of Venezuelan bonds in default would deprive certain creditors of auction proceeds. The judge stated in his filing that parties attending the hearing should "focus instead on the merits" of the Amber Energy bid and its objections, as well as the Dalinar offer. During the four-day hearing that begins on Monday, experts, creditors and witnesses will present arguments in support of or against the bids. The court has said that a second set of testimony could be presented by October.
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ADNOC close to finalising EU remedies for Covestro deal, sources say
People familiar with the situation said that ADNOC, Abu Dhabi's state oil company, is preparing remedies to deal with an EU investigation on subsidy allegations in its bid of 14.7 billion euros ($17.2 billion) for Germany's Covestro. It will likely convert a proposed capital increase of 1.2 billion euros into a shareholder loan. This is ADNOC’s largest acquisition ever and the largest foreign takeover of an EU-based company by a Gulf State. The European Commission (the EU's competition watchdog) has warned that ADNOC could be benefiting from subsidies, such as a guarantee that is unlimited, and that foreign aid may also be involved with the capital increase at Covestro. ADNOC is likely to convert the Covestro equity increase into a shareholder loan, at rates of the market. People familiar with the matter said that the company plans to address EU concerns regarding unlimited state guarantees, just as UAE telecoms group e& did last year to gain EU approval for certain parts of Czech Telecoms Company PFF. e& has agreed to remove the unlimited state guarantee it had provided by ensuring its articles of incorporation do not differ from UAE bankruptcy law. People said that ADNOC would likely pledge to keep Covestro’s technology and intellectual properties in Europe. The Commission, which is currently investigating the deal in its Foreign Subsidies Regulations (FSR), targeting unfair foreign assistance for companies, has declined to comment. A spokesperson for XRG (the international investment arm of ADNOC) said that it would not comment on current discussions. ADNOC's Chief Executive Sultan Ahmed Al Jaber spoke with EU Antitrust chief Teresa Ribera via phone on Friday, according to the sources. ADNOC slammed EU regulators last week for their disproportionate and intrusive requests for information, which it warned could jeopardize the deal. (Reporting and editing by Foo Yunchee)
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Barrick's executive advises Mali president on gold dispute
An official from the mines ministry said on Wednesday that a senior Barrick Mining executive, who was representing the company during tense talks with Mali’s government, has now switched sides and is now an advisor to Mali’s president. Hilaire Diarra, formerly the general manager of Barrick’s Tongon Gold Mine (Ivory Coast), was appointed special counsellor by Mali’s president through a decree that was signed late August. On Wednesday, an official from the Mines Ministry confirmed that the document was authentic. This move is a blow to the Canadian company's attempts to negotiate control of the Loulo-Gounkoto complex of gold mines, which is one of the highest-profile examples in West Africa of resource nationalism by military governments who want to control their gold and uranium resources. Diarra and Barrick's spokesperson didn't respond to comments immediately. Since 2023, the Mali government has been in negotiations with Barrick over the implementation a new code of mining that increases taxes and gives government a larger share of the gold mines. Former Barrick executives have been recruited to try and outmanoeuvre Barrick. In June, a Malian court appointed provisional administrator took over the Loulo-Gounkoto complex six months after Barrick had suspended operations at the site due to an impasse in negotiations. Samba Toure, a former Barrick executive, is now part of the provisional management running operations at the complex. Barrick's financial reports show that Loulo-Gounkoto will produce 578,000 ounces gold by 2024. Since the provisional administrator has taken control, 1 metric tonne of gold or 35,274 pounds, have been sold. A source with knowledge of the situation said that current production levels are around 25% of normal output. Diarra, who is a Malian national and began his mining career in Loulo, flew to Bamako this year from Ivory Coast to negotiate for the Canadian miner. This source, along with two others, confirmed the information. Reporting by Portia Crowe and Divya Raagapal Editing Robbie Corey Boulet, Veronica Brown, and David Goodman
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Africa aims to raise $50 billion a year through a new climate solution initiative
A draft declaration following a climate summit of leaders in Addis Ababa on Wednesday showed that Africa aims to secure $50 billion per year for a continental climate solutions initiative. The initiative is sponsored by Ethiopian Prime Minister Abiy Ahmad. The 54-nation African continent, which was ravaged by landslides and floods, wants to continue with its climate commitments despite the United States withdrawing from the Paris Climate Agreement. In the draft declaration, it was stated that the push is to establish the Africa Climate Innovation Compact (African Climate Facility) and the Africa Climate Facility in order "to mobilize $50 Billion annually in catalytic financing for climate solutions". Ethiopian officials didn't respond to requests for more information immediately, but Abiy said at the opening ceremony of Monday's summit that the initiative should be aimed at delivering 1,000 solutions by 2030 to combat climate challenges. Ethiopia's tree-planting campaign, which began in 2019, as well as a new mega hydroelectric dam that was launched on Tuesday are evidence of Africa’s ability to lead the way in economic development and ecosystem protection. African leaders presided at the opening of this summit over an agreement between African development financiers (ADF) and commercial banks, to mobilize $100 billion in investments for green energy generation. The draft declaration of the summit stated that Africa needs more than $3 trillion by 2030 to achieve its climate goals, but has only received $30 billion between the years 2021 and 2012. The report called for greater international commitments and partnerships in order to close the funding gap. It also emphasized the importance of grants to enable adaptation to climate changes. Reporting by Duncan Miriri, Dawit Endeshaw and Alexandra Hudson
Sources say that European military supplier KNDS is considering an IPO in the midst of a boom in the defence sector.
Two people with knowledge of the matter said that KNDS, a military defence system provider, is looking at an IPO as soon as the end this year. This comes as Europe's push to boost its defence sector sparks a rally.
Sources, who spoke on condition of anonymity, said that the Franco-German firm has begun early discussions with advisers regarding a possible listing at Frankfurt in 2026 or 2025.
They added that the Banks are yet to be named.
The French state-owned holding agency (APE), declined to comment. KNDS, as well as its German family shareholders Wegmann-Group, did not immediately respond to requests for comments.
The talks take place amid a recovery in the defence sector after U.S. president Donald Trump stated that Europe would have to increase its military resources significantly.
After the U.S. urged European leaders to increase their military budgets, Germany's Hensoldt and Europe's largest ammunition manufacturer Rheinmetall led this week's gains.
Rheinmetall's value has increased dramatically since the Russian invasion of Ukraine. It is now worth approximately 39 billion euros (40.87 billion dollars), up from 4 billion euros back in February 2022.
KNDS formed in 2015 through the merger of German Krauss-Maffei Wegmann, a family-owned company famous for its Leopard tanks, and French state-owned Nexter. According to the website, both the German family and French Government remain joint owners.
One person suggested that a complex shareholder structure could result in the company only floating a small portion of its shares. This would allow the company's family and state supporters to retain control stakes. They also warned that the company may decide not to list as a public business.
At the time the article was published, it wasn't clear which shareholders would sell their shares in an IPO scenario or what valuation they might be seeking.
According to LSEG Datastream on February 20, world defence companies are trading at 25,8 times expected earnings compared to 18 times three year ago. Iveco, Thyssenkrupp and other world defence companies trade at around 8 times the same valuation metric.
KNDS is a manufacturer of battle tanks, armoured vehicle, artillery system, weapons station, ammunition, military bridges and battle management systems. It also produces battle management systems and protection and training solutions.
According to its website, it generated revenue of 3.3 billion euro ($3.45 billion). KNDS, an investor in German gearbox manufacturer Renk, listed its shares last year at a valuation 2.15 billion euro and is expected to have sales of 1.1bn euros by 2024, according to preliminary results. KNDS increased its stake in Augsburg-based Renk last week to 25,1%. Renk's shares have risen 62% since the company made its debut on the stock exchange a year earlier. KNDS has approximately 9,500 employees worldwide and is incorporated in The Netherlands. According to its website, it supplies armies around the world with production lines located in France and Germany, and has various industrial partnerships. ($1 = 0.9543 euros)
(source: Reuters)