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Heatwave to sweep across Europe as Tour de France cyclists prepare for blistering conditions
Tour de France riders will face scorching temperatures as a heatwave sweeps across the country. Temperatures around Carcassonne where Tuesday's 4th stage starts are forecast to reach 41 degrees Celsius (106 Fahrenheit). Extreme heat is a constant enemy of the peloton during the 'Tour de France in July and the 'Vuelta a Espana' in August. Hugo Page, a French rider, told reporters that the heat of July is always hot. "Global warming could make things worse and worse." According to Benjamin Thomas, France's Cofidis, high temperatures can affect the health and safety of riders. It can be dangerous and affect the health of riders. "Once the perceived temperature exceeds 40 C, things start to get dangerous," said he. The teams have implemented protocols to cool down riders?before and during the stage. They use ice vests and socks, ice cubes wrapped around the neck, and ice slush to lower core body temperature. Mattia Michiusi, Cofidis' head of performance, said that the team uses cold bottles to cool down. They also use wristbands. On Saturday, Netcompany-Ineos cyclists were seen dipping their arms into a bowl of cold water and imitating a aerodynamic position. Mathieu le Strat, Groupama-FDJ United’s medical director, said that the riders?had a heightened heat tolerance because of their targeted training. He said that "you can't compare these athletes to the general public, due to the intense heat training they have undergone." START STAGES EAGER? This training method is designed to help riders adjust to heat. Michelusi said that the first step was to get riders used to high temperatures. "This is why we organise our training camp in Sierra Nevada where you can experience altitude and really hot temperatures." The French Championships last month saw dizziness and headaches as a result of prolonged exposure to extreme heat. Vice president of the CPA Riders Union, Pascal Chanteur, urged organisers not to start the stages during the hotter parts of the day. Chanteur said: "Working six hours at extreme temperatures in extreme conditions is not possible." "The only solution to the problem of the future is changing the departure times." He said that there was no alternative. However, TV schedules which prioritize peak viewership are a major barrier to such adjustments. Christian Prudhomme, the race director of the Tour de France, expressed his confidence in its ability to handle extreme weather conditions. Prudhomme, a reporter, told reporters that "we are always ready to adapt, anywhere, at any time." We will give more ice to teams. We can also open the feed zones more frequently, and have already added a 3rd motorbike so that we can give more water bottles during the stage. The International Cycling Union introduced the High Temperature Protocol (HTP) in 2024, using a five-tiered risk assessment system, based on Wet Bulb Globe Temperature, a system that measures the impact of direct sunlight, ambient temperature and humidity on the body. According to a French Interior Ministry report seen last week, the UCI protocol is not binding, but it does suggest countermeasures. For example, if temperatures rise above 28 C, officials in French regions may cancel Tour de France stage if there is a heatwave alert. (Reporting and editing by Hugh Lawson in Les Angles)
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In one of the deepest strikes ever, Ukrainian drones strike Russia's largest refinery.
Kyiv’s military confirmed on Monday that Ukrainian drones had'struck' Russia's Omsk Refinery, located deep in Siberia and the largest refinery in the country. This would have been 'one of the longest ranged' Ukrainian strikes since the beginning of the war. Local Russian authorities also confirmed a strike. Ukraine's General Staff released a statement in which it stated that the strike caused an fire at the Omsk Refinery. The refinery is located around 2,700 kilometers (1,700 miles), away from Ukrainian territory, and near the border between Russia and Kazakhstan. Vitaly Khotsenko said that Ukraine attacked the refinery and said that Russian air defenses destroyed most of drones involved in the strike. Khotsenko wrote in a message on the Russian messaging application MAX that there were no injuries and emergency services had arrived at the scene. It wasn't immediately clear what damage had been done to the refinery. According to sources, the Gazpromneft owned Omsk refinery processed approximately 23 million metric tonnes last year. That's around 460,000 barrels per day. Ukraine is intensifying its campaign of strikes on Russian oil refineries. This has caused fuel shortages in some time zones. Local governors said that, in addition to Omsk and other Russian ports on the Baltic Sea such as Ust-Luga, Vysotsk and Kaluga, the Ukrainian military also 'hit' targets 'in the Kaluga, Yaroslavl and Kaluga regions. According to the Russian-installed officials, a woman was killed in Crimea after a strike occurred on Kerch's port. Sevastopol was the largest city on the peninsula and suffered a power outage, according to reports. Reporting by Felix Light, Alessandra Prrentice, Alexandra Hudson, Emelia Sithole-Matarise, and Sharon Singleton; Editing by Alexandra Hudson and Emelia Sithole Matarise
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Tennessee Guard soldiers in a task force under Trump's leadership kill an armed man.
Two Tennessee National Guardsmen assigned to a Donald Trump-backed task force against crime fatally shot a man who was being chased by the 'Memphis Police. This brought attention to a high profile 'federal' initiative that has been hailed as a success. The soldiers involved in the incident on Sunday were members of the Memphis Safe Task Force. This was a partnership between federal agents, National Guard units and local police that was launched last year in order to fight violent crime. Memphis is one of several Democratic-led U.S. Cities where the Trump Administration has deployed federal forces. Trump and senior officials visited Memphis, Tennessee in March to commend the operation. The 'Republican President' has credited the operation with reducing violent crime?in the city. The city police department reported that when they responded to a call of shots being fired downtown, they saw a man with a handgun. According to the Tennessee Bureau of Investigation (TBI), two Guard soldiers nearby joined the pursuit. The suspect was identified as Tyrin Johnson, 20 years old. The TBI stated that "for reasons under investigation, the situation escalated and two National Guard soldiers fired upon Johnson, hitting him and killing" him. The Memphis Police Department reported that the suspect turned his handgun toward the Guardsmen before they shot at him. The Tennessee National Guard did not respond immediately to an e-mail seeking a?comment. The TBI is conducting an investigation at the request from the Shelby County District Attorney. (Reporting and editing by Donna Bryson, Howard Golle and Howard Golle)
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Pakistan mediating Libya unity push as rival camps seek deal, Pakistani sources say
Two Pakistani sources claim that Pakistan is quietly mediating between Libya’s rival eastern-western?power centers. This effort, which was previously unknown, will raise Pakistan's diplomatic profile, if successful. The Pakistani involvement comes after months of monitoring a U.S. led push to find diplomatic solutions in Libya. The Trump administration has repeatedly credited Pakistan's role in separate mediation between Iran and the U.S. This year. One of the Pakistani source said that the U.S. had been "fully aware and engaged" with Islamabad’s Libya role. Both sources confirmed that Saudi Arabia was also supporting the effort. Islamabad and Saudi Arabia signed a mutual defense pact last year. Saudi Arabia has been seeking influence in Libya for a long time. Both sources in Pakistan said that the effort began at the end of last year, and both sides in Libya requested their involvement. It is unclear how closely Pakistan coordinates its efforts with regional stakeholders. The Pakistani foreign ministry and its military media, officials from western and eastern Libya, the Qatari, Turkish, Saudi Arabian and U.S. foreign ministries did not respond immediately to requests for comment. UNITY PLAN Analysts said that any successful plan for reunifying Libya would have to balance the vastly differing interests of foreign patrons, and resolve disputes about posts, election rules, and oil revenue, which have derailed previous attempts. The United States is pushing hard to impose a new format in Libya, but the structure is still vague and undefined. Summary of "Libya Reunification Plan" shared with would establish a 36-month power-sharing arrangement, under an entity called the Government of National Consensus & Presidential Council. One Pakistani source warned that the proposal was still under discussion. It would create a period of transition with Abdulhamid Dbeibah, the U.N. recognized and western-based Libyan Government of National Unity, as Prime Minister and Saddam Haftar as the deputy commander of eastern-based Libyan National Army as Chairman of the Presidential Council. The proposed budget plan would give Haftar's father Khalifa Haftar authority over the budget. He controls Libya's largest oilfields and infrastructure. Pakistani sources said that Pakistan will play an "active role" in ensuring this entire arrangement remains in place, with the details still being worked out. PAKISTANI MEDITATION Last month, Pakistani army chief Asim Muniz met Saddam Haftar at Rawalpindi. This meeting was followed by Haftar’s visit to Washington where he met Secretary of State Marco Rubio. In a statement issued at the time, the State Department stated that Rubio had welcomed Libyan leaders efforts to?overcome divisions? and reaffirmed U.S. backing for Libyan unification. Analysts may view Pakistan as an unimportant player in Libya where the U.S.A., UAE, Turkey, and Egypt have been battling for influence for years. However, Islamabad maintains ties with both sides, which other regional players might not. As reported in December, Pakistani officials pursued defence ties to the LNA based in eastern Pakistan, including possible sales of JF-17 jet fighters and Supermushshak trainer planes, despite an arms embargo by the U.N. According to a document that was not reported, the western GNU sought direct talks with Pakistan. Two Pakistani sources with knowledge of the situation said that Qatar and Turkey, which is one of the biggest supporters of the GNU, encouraged Pakistan to become involved in the mediation process. Tarek Megirisi, the director of the geopolitical consulting firm Informmi warned that no deal was guaranteed to last. He cited the collapse of the agreement between Rwandan and Democratic Republic of Congo leaders in the past year. Reporting by Ariba Bukhari and Mubasher Shahid in Islamabad, with additional reporting from Alexander Dziadosz and Alex Richardson in Cairo.
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Yonhap reports that the prosecutor has charged South Korea's four oil refining companies with collusion over price.
Yonhap News Agency, citing the prosecution, reported that South Korean prosecutors indicted four oil refiners for alleged collusion over fuel prices, which was estimated to have caused anti-competitive damage worth $17 billion. Yonhap reported that the companies are HD Hyundai Oilbank GS Caltex S-Oil and SK Energy. The 'Seoul Central District Prosecutors' Office spokesperson did not reply to my phone call and text message seeking confirmation of the report. A phone call or text message asking for confirmation of the report was not answered. Yonhap reported that the prosecutors alleged pricing managers from HD Hyundai Oilbank, SK Energy and other companies colluded on prices of petroleum products shortly after the outbreak of the conflict in Iran this year. Yonhap reported that they discussed the timing and scale of price increases. Yonhap reported that GS Caltex, S-Oil and other oil companies followed the same pricing. Yonhap, citing prosecutors, said that the total value of the anti-competitive effects was estimated to be 26 trillion won (17 billion dollars). SK?Innovation (the parent company of SK Energy) declined to comment. ?S-Oil ?had no immediate comment. HD Hyundai Oilbank, GS Caltex and BP did not respond to our requests for comments immediately. Korea Fair Trade Commission raised the penalty for collusion from 0.5% to at least 10% of the sales related to the violation.
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Nikkei is weighed down by technology as Nikkei's Topix falls on lower oil prices
Japan's Topix index of stocks?climbed for the sixth consecutive day on Monday as the decline in oil prices and positive momentum in global markets boosted investor confidence. The?Topix rose?0.50%, marking its longest winning streak in August 2025. The Nikkei, heavily weighted with tech shares, was down by 0.16% at 69,630.74. Investors kept an 'alert eye' on the central bank policies. The?Federal Reserve, under its Chair Kevin Warsh signaled a hawkish position, and the Bank of Japan was expected to tighten further. The markets were also able to breathe easier due to an increase in the oil production targets and the reopening of Strait of Hormuz. Maki Sawada is an equity strategist at Nomura Securities. She said that while Wall Street was closed for the holiday on Friday, Japanese stocks took their cues from the strong performance of European and South Korean markets. Sawada stated that "these factors, coupled with the downward trend of crude prices after?OPEC+ made its decision to increase production over the weekend, seem to support investor sentiment." "Fluctuations in ?these AI and semiconductor-related shares will continue to influence whether ?the Nikkei ?225 rises or falls." Sector performance was mixed, with industrials and transportation-related shares leading gains. Kawasaki Heavy Industries?surged 7.62% while Mitsubishi Heavy Industries rose 59.38%, marking a sixth consecutive session of gains. This is the longest run of gains since September 2025. Taiyo Yuden and Socionext both fell by 4.99% and 6.98% respectively. The Nikkei was positive in terms of breadth, with 169 advancing Nikkei shares against 56 declining ones.
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As the M&A frenzy grows, Australia's Genesis makes a $3.9 billion offer for Vault.
Genesis Minerals, a company based in Australia, has made a bid for Vault Minerals worth A$5.6 billion (about $3.95 billion). This is a higher offer than Regis Resources, as the surging gold price fuels a wave of consolidation within Australia's mining industry. This combination will create one of Australia's largest gold producers, with a value of A$12.6billion and a production capacity of 700,000oz per year. Genesis estimated on Monday that it would bring in about A$2 billion worth of synergies, as its Leonora operation is only 25 kilometers (15.53 miles) away from Vault. The ore of higher quality could be processed through Vault instead of having to expand its own processing plant. Vault shares rose 12.3%, to A$5.12, the highest since mid-March. Genesis shares fell 8.4% to A$5.76, whereas the benchmark was mostly unchanged. Genesis proposed 0.7629 shares and A$0.475 cash per Vault share. This valued Vault at A$5.274, which is a 15.7% increase over the last close of the stock, and almost 6% higher than Regis' bid for all the stocks in May. Vault claimed it had notified Regis about the proposal, and given them until Friday to match it or improve it. Genesis shareholders will hold 59.8% of the combined entity, and Vault shareholders 40.2%. It has also proposed to restructure its expanded board so that it includes three Vault nominees. Regis stated that it was evaluating its position and rights under the scheme. The shares of Regis rose 5.6% in the last week. In a $2.4 billion deal, Ramelius Resources acquired Spartan Resources last year amid a wave in consolidation driven by the rising gold prices. After a long period of poor performance, activist investor Elliott also pressured?Australia's biggest gold producer Northern Star?to put itself on the market.
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As oil prices drop and earnings loom, shares in Asia are on the rise
Asian shares were mostly higher on Monday as Wall Street futures started the week on a positive note on the back of a good earnings season. Meanwhile, oil prices are dropping, which will ease inflationary pressures. Although there have been no developments in the U.S. Iran peace talks, 160 ships were reported passing through the Strait of Hormuz from Monday to last Saturday. OPEC+ agreed to increase output targets for August by 188,000 barrels a day, in addition to the increases made in June and July. Brent crude fell 0.6%, to $71.70 per barrel, a level near the four-month low. U.S. Crude also lost 0.5% at $68.38. Futures indicate that there is a 78% probability of a stable outcome at the Federal Reserve meeting on July 29. This is due to the cooling of energy prices and a soft U.S. payrolls data. The minutes of the Fed meeting last week are due Wednesday. They should provide some insight into the recent hawkish turn by certain board members. Richard Yetsenga is the head of research for ANZ. He said: "Even if there were any fears that the Fed would move soon, we are safe, at least, for another month." He added, "Our overall view is that the Fed will not do anything. But clearly we have been above the Fed's preferred measure of inflation for five years." "There's a risk that the Fed runs out of patience." Investors should be able to focus on the earnings season ahead, when the AI boom will deliver bumper profits in tech. The only two companies to have made a big splash this week are Delta Air Lines (and PepsiCo), though Samsung Electronics will make a huge one on Tuesday, as analysts anticipate an 18-fold rise in profits. CHIMP MAKER BONUS PROFIT According to LSEG SmartEstimate, the world's biggest memory chipmaker based on sales will likely report an operating profit for the quarter of April to June of 86 trillion won (56.35 billion dollars). South Korea's hot market has cooled down a bit last week, but it is still up 92% this year as AI demand and limited supplies have boosted chip prices. The index gained another 2.25% Monday while Japan's Nikkei fell 0.1%. The broadest MSCI index of Asia-Pacific stocks outside Japan rose 0.4%. In Europe, EUROSTOXX Futures were flat. DAX Futures rose by 0.2%, and FTSE Futures declined by 0.2%. S&P futures rose 0.5% while Nasdaq rose 1.4%, adding to a 2.1% increase last week. The first data release is the U.S. ISM Services Survey is due to be released on Monday. Forecasts suggest a slight decline in June, but still a healthy 54.0. Later in the day, a number of central bankers, including Christopher Waller from the Fed Board, will be speaking at ECB's conference, and Christine Lagarde, ECB President, is also scheduled to speak in Paris. Markets are betting that New Zealand's Central Bank will increase its cash rate from 2.25% to 2.35% by a quarter-point, marking the first increase since mid-2023. The policy makers have been predicting a tightening of rates for some time. However, this was before the fall in oil prices. There is a chance that they will surprise us by keeping them steady. The?dollar index has stabilized at 100.880 on the currency markets after the disappointing payroll report for June. The euro remained flat at $1.1445 just above its recent 13-month low. As speculators continue to be wary of Japanese interventions, the dollar is still trading at 161,45 yen - not far off its 40-year high of 162,84. Gold was barely moved on the commodity markets at $4,177 per ounce after a 2% increase last week. (Reporting and editing by Jacqueline Wong; Wayne Cole)
Vivo Energy to invest over $550 mln in South Africa, minister says
Vivo Energy, owned by global commodities trader Vitol, will invest an initial 10 billion rand ($ 550.79 million) in its South African operations following its merger with Engen, South Africa's trade minister Ebrahim Patel said on Wednesday.
The financial investment belongs to a range of public interest and competition dedications, created to prevent task losses and continue supply agreements with local refineries, that domestic regulators looked for when the merger was considered.
The business (Vivo) has devoted to a minimum of about 10 billion rand over the next 5 years to be bought areas like green energy, facilities and the upgrading of its operations, Patel said at a finalizing event with senior company executives.
The company might invest an additional 4 billion rand, subject to expediency, in biofuels production and marine infrastructure, among other jobs, he added.
Besides the capital investment, there was likewise provision for workers' ownership that will be funded by means of a supplier funding mechanism so that workers did not pay for their shares directly.
The arrangement likewise requires Engen to continue buying fuel fine-tuned from Glencore's Astron refinery in Cape Town for a. duration of 15 years and from Sasol's refineries to the north of. the nation for a duration of as much as 10 years.
Astron Energy and Sasol had opposed the merger at. competition hearings over fears that their locally improved. items would be displaced by imports.
This provides a considerable buffer for regional refineries and. a boost to maintain and expand oil refining locally, Patel said. of a supply dedication valued at an estimated 100 billion rand. over the next 5 years.
Engen and Vivo Energy formally completed the transaction. on to integrate their organizations on Tuesday, after regulators. concurred in April for Malaysia's Petronas to offer its 74% stake in. Engen to Vivo Energy.
The combined Vivo Energy group now has more than 3,900 service. stations and more than 2 billion litres of storage capacity. across 28 African markets.
Africa and South Africa has and will remain a crucial focus for. Vitol's financial investment, Harvey Foster, Vitol's nation supervisor. stated.
(source: Reuters)