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Thirty people are killed in a gang attack near Haiti's capital.
Jean Massillon, the mayor of Kenscoff, told reporters on Monday that at least 30 people had been killed in a gang attack near Port-au-Prince. Kenscoff, a hillside town that overlooks Port-au-Prince, has been the scene of frequent gang violence in recent years. Human rights groups reported rapes and homicides in mass numbers, as well as arson, kidnappings and arson. This forced thousands of people to flee. RNDDH, a Haitian rights group, estimated that 30 to 40 people were killed in the overnight raid which began at 10:30 pm local time (0230 GMT) but cautioned it was still difficult to determine a total number. Haiti's Prime Minister's Office on Monday afternoon condemned the "heinous attacks", noting that all security forces are on high alert, and that reinforcements have been deployed. In a press release, it stated that "Kenscoff?will not be abandonned." "The authority of the government will be restored without delay and without any weakness in Kenscoff." Haiti's National Police did not respond immediately to a comment request. The community is strategically located to?overlook routes leading into Petion-Ville, home to several embassies and upscale hotels as well as the temporary seat for government. Local?media reported that?several homes were set ablaze, including the residence of Jean William Pape - a leading 'public health expert' in Haiti. The attack took place as the U.N. Gang Suppression Force - mandated to assist police in fighting gangs, and replace a 'underfunded and ill-equipped predecessor - plans?to achieve a full?capacity?of over 5,500 troops this fall. The report was written by Daina Beth Solor and Sarah Morland. Inigo Alexander, Natalia Siniawski, and Harold Isaac edited the article.
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What options does Iran have to escalate the situation in response to US economic threats?
LONDON, August 24 - U.S. threat to impose 'the toughest sanctions ever in history' to force Iran to submit to its demands following nearly six months of war has raised the prospect of another round of escalation?in?the Gulf. How can Iran respond to economic pressure? Can Iran stop more oil from leaving the Middle East? Mohsen Rezaei is the former chief of the 'Revolutionary Guards' and secretary of Iran’s Supreme 'National 'Security council. He has already threatened to stop oil exports, which has been one of Tehran's major strategic moves since the war started on February 28. He said that if the economic war continued, "not a single drop of crude oil would be exported through the Strait of Hormuz or from anywhere else in the Persian Gulf." Iranian threats and attacks on shipping have already halted most traffic in the Strait of Hormuz. This waterway carried around a quarter of the world's energy prior to the conflict. Despite some oil tankers passing through the Strait of Hormuz in recent weeks the volume remained very low. On Sunday, Iran blacklisted 45 tanks for failing to adhere to the rules they want to impose to Hormuz shipping. In the first six months of this conflict, missiles, speedboats or drones have been used to attack oil tankers leaving the Gulf. This has caused the price of oil to rise. Tehran's Houthi ally has restricted Red Sea shipping by threatening to block all Saudi Arabian shipping that carries crude oil to Asia via the Bab 'el-Mandeb Strait, past the group’s Yemeni stronghold. Initially, only a few vessels were stopped, but by mid-August more than half of the vessels had made it through. This is causing a problem for shippers, as Chinese shipping companies are now rerouting their ships away from Bab el-Mandeb. Sources in the industry say that further attacks such as Monday's attack on a vessel near the main Saudi Red Sea terminal at Yanbu or an early August drone strike near Suez Canal could increase oil market anxiety and crude oil price. GULF STATES - STILL at Risk of IRANIAN Attack? Iran has warned that it will retaliate if any of its neighbours join the U.S. in their efforts to choke off the economy of Iran with "earthquake force". It has repeatedly targeted the Gulf States and Jordan during the war. The main focus was on U.S. military bases, but it also hit energy infrastructures and other targets. Attacks on upstream oil and gas facilities, if intensified, could cause energy prices to rise even more. This could result in political damage for the Trump administration. It could also be harder to reverse compared with attacks on shipping. The targeting of power and desalination facilities in this hot, parched area would pose a serious risk to the U.S.-aligned Gulf kingdoms that are important financial hubs. Can IRAN attack western countries directly? The Revolutionary Guards have historically found ways to attack the West, even though they are out of range for Iran's primary munitions. Britain reported on Monday that hackers with ties to Iran had shut down a small power station, while U.S. officials said Tehran is likely responsible for cyber attacks against water plants in Minnesota. Iran hasn't commented on these allegations. Western security services also accuse Iran of recruiting locals to stage attacks or assassinate in the west. Iran denies that. (By Angus McDowall, Editing by Aiden Lewis)
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Trump threatens to impose 50% tariffs on cars and trucks imported from Canada amid a trade dispute
After trade talks broke down over the weekend, President Donald 'Trump' sought to increase pressure on Canada. He warned that U.S. Tariffs on all?trucks? and automotive parts coming from Canada would increase to 50% on January 1. The deal would have reduced the top line tariff rate for Canadian cars and light duty trucks from 25% down to 15%, and the tariffs of aluminum and steel would have been cut from 50% down to 25%. However, the deal fell apart on Friday due to disagreements over whether or not the U.S. relief on tariffs would apply to medium and heavy-duty truck. "Build in America and there are ZERO TARIFFS." Canada will no longer be treated as a state! Trump wrote. They are the worst Nations to deal with on trade and other issues. They are entitled and "yet we don't need Canada, they need us!" Trump said. Canada is consistently one of the two top U.S. trade partners. Last year, U.S. goods-and-services trade with Canada totaled $872.3 Billion, a 4.6% decrease. Canada exports over 75% of its products to the U.S., and imports almost 50% of the goods it buys from the U.S. U.S. Auto production is heavily integrated with Canada and Mexico. Tariffs could have a drastic impact on American production depending on their specifics. Flavio volpe, president of Canada's Automotive Parts Manufacturers' Association said that "a threatened US tariff on Canadian car parts will be paid for by the US auto assembly." Auto assembly in the U.S. could stop if those parts were not available. The White House didn't immediately respond to an inquiry for more information on the tariffs. The Canadian government did not respond immediately to a request for comment. Canada will begin imposing tariffs on certain U.S. products on September 8, in response to Trump's 50% levy on $20 billion of Canadian goods. When you are attacked, it's war. Mark Carney, Canadian Prime Minister, said that Canada had been attacked on Saturday. Many automakers have announced or are considering plans to reduce Canadian auto production. The trade dispute has also led to a reduction of 22% in Canadian imports. Major automakers have not commented on Trump's announcement. Auto executives who spoke on condition of anonymity expressed skepticism over Trump's threats, pointing out that the president has announced tariffs of this size before, but they never came into effect, and that any such tariff would most likely trigger a massive Canadian response. Also, they noted that it was still months after the midterm elections in November and that Trump's threats?could have been aimed at restarting negotiations. Trump stated in January that the U.S. Bombardier Global Express jets would be decertified and import tariffs of 50% on all aircraft manufactured in Canada threatened until Canada's regulator approved a number planes made by U.S. competitor Gulfstream. The two things did not happen, but Canada's regulator certified several Gulfstream aircraft the next month. Reporting by Katharine J. Jackson, Daphne Psaledakis, and David Shepardson, Editing by Susan Heavey and Chizu Nomiyama, and Mark Porter
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Braskem, a Brazilian company, has approved a $10.9 billion restructuring out of court
In a filing with the Securities and Exchange Commission, Braskem said that its 'board of directors has approved filing for an out-of-court restructuring in order to negotiate $10.9 billion of unsecured debt. Braskem is Latin America's biggest petrochemical company. It has been struggling with a prolonged slump in the industry and a disaster at its salt mines?in northeastern Brazil. Both of these have severely weakened Braskem's cash position. Three sources, who spoke on condition of anonymity, said that the out-of court?restructuring proposal may include a subsequent share offering. This could pave the way for an external capital increase. Sources said that the restructuring proposal will be developed within 90 days. The company is in advanced discussions to file an out-of court restructuring in Brazil by the end of August. A 60-day emergency protection period was due to expire. Braskem, a joint venture between Grupo Idesa of Mexico and the Brazilian firm, Braskem, filed for Chapter 11 bankruptcy protection in the U.S. last week. Braskem stated that the out-of court proceeding would be limited to the restructuring of its financial obligations and not affect any obligations towards customers, suppliers or other stakeholders. The company said it will file for an out-of court restructuring once the documentation is complete. Braskem's control is split between IG4 Capital (which acquired a stake from Novonor) and Petrobras, a state-run oil firm. (Reporting and editing by Gabriel Araujo, Paul Simao, and Isabel Teles)
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All the M&A transactions in Italy since 2025
Monte dei Paschi di Siena has made simultaneous offers to acquire Banco BPM, Banca Generali and Banco BPM. This is the latest of a series aimed at transforming Italy's formerly dormant banking sector. The MPS offers were made last week in an effort to repel the hostile takeover attempt by Italy's largest bank, Intesa Sanpaolo. This would result in the third largest banking group of Italy. This is a list of all other completed and attempted M&A deals in the Italian banking sector since 2025. 1. MONTE DEI PASCHI?DI??SIENA (MPS), BANCO BPM, BANCA GENERALI MPS announced on August 21, separate bids for Banco BPM, a rival bank, and Banca Generali, a wealth manager controlled by Generali. The combined total of the two bids is approximately EUR34 billion (40 billion dollars). CEO Luigi Lovaglio stated that MPS is the "natural partner" for an aggregation friendly and has promised a combined annual synergies pre-tax of approximately EUR2.6 billion. In order to approve the takeover plan, at least two-thirds of MPS's shareholders must vote in favor, according to Italian takeover regulations, on October 29. Banco BPM invited MPS for "a merger on equal terms" but stopped the talks last month when France's Credit Agricole expressed its disapproval. 2. INTESA SANPAOLO – MONTE DEI PASCHI DI SIENA (MPS) – UNIPOL – BPER Intesa’s EUR30.6 billion cash and share?bid would create the second largest lender in the Euro zone, placing Italy’s top bank behind Spain’s Banco Santander on market value. Intesa will sell Unipol about half of the MPS network that it will receive as a result of the takeover. The network will be combined with Unipol's BPER Banca, a lender backed by Unipol to create a new bank operating under the Monte dei Paschi name. 3. ?UNICREDIT – COMMERZBANK UniCredit, who stayed away from Italian M&A after a failed bid for Banco BPM in 2006, announced in July that it had increased its share in?Commerzbank, to 47.6%. It pursued a takeover bid in spite of?German opposition. UniCredit holds a 49.7% stake in the German lender, excluding Treasury shares that have no voting rights. It could increase its stake further by amending swap agreements. UniCredit approached Commerzbank in September 2024 about merger talks after buying a 9% stake in its German counterpart and signaling that it was willing to take more. 4. CF+ BANCA SISTEMA Banca CF+, a speciality lender backed by Elliott, completed a EUR145 million offer in March for Banca Sistema. 5. MPS – MEDIOBANCA MPS acquired Mediobanca in September of last year for EUR16 billion, becoming a major investor in Generali, an asset highly prized in Italian finance. This deal from a bank that was bailed out in 2017 by the government and reprivatised between 2023-2024 turned MPS into an important M&A player. 6. BANCA IFIS – ILLIMITY Venetian IFIS has completed an offer of EUR298 million in cash and shares for Illimity. This digital bank was founded by Corrado Passera, a veteran banker who served as former minister of industry. It was delisted later from the Milan bourse. 7. BPER BANCA - BANCA 'POPOLARE D SONDRIO In July 2025, Italy's fourth largest bank completed a EUR5.4-billion cash-and-shares offer for the smaller counterpart based in northern city Sondrio. It called it a defensive measure dictated by the rapid consolidation. The main shareholder of both banks, Insurer Unipol played a key role. 8. UNICREDIT BANCO BPM In July 2025, Italy's second largest bank canceled its EUR15 billion all-share offer to Banco?BPM. It blamed the conditions set by the government in order to complete the deal. UniCredit's bid was made in November 2024. 9. BANCO BPM – ANIMA HOLDING Banco BPM bid?to purchase fund manager Anima Holding for EUR1.8 billion. It completed the acquisition in April 2025. 10. MEDIOBANCA – BANCA GENERALI Mediobanca made a EUR6.3 billion all-shares offer to wealth manager Banca Generali in April 2025, but failed. The shareholders did not approve it. 11. BANCA GENERALI – INTERMONTE Banca Generali acquired Intermonte in January 2025 for EUR98.2 Million Euros. This acquisition was made to enhance its investment banking capabilities and provide corporate finance advisory services. ($1 = 0.8574 euro) (Written by Giulio Pivacari and Andrea Mandala Edited by Alvise Armenlini)
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Copper firms buy metals earmarked for exit from LME
The price of copper rose on Monday as a rise in the number of cancelled warrants and metals marked for delivery at the London Metal Exchange stimulated buying. Meanwhile, the lower U.S. dollar boosted the positive sentiment towards industrial metals priced in dollars. Benchmark 'copper' on the LME was 0.2% higher, at $14240 per metric ton. Last week, prices of metals used in construction and power industries reached $14,396. This is the highest price since January's $14,527.50 high. Industry sources say that the cancellations 0#MCUSTXLOC> are mostly stored in LME warehouses in Asia and the U.S., in free-trade zones. They will likely be delivered to Comex or traders and consumers in the United States. Since President Donald Trump proposed import tariffs last February, traders and producers have been bringing copper to the United States. Comex -copper stocks The record is 742,778 short tonnes, or 673 836?metric tonnes. The LME stocks 50% of the total stock, or 240 250 tons. The majority of the metal that was cancelled last week had been delivered against maturing short positions. The premiums on nearby contracts are expected to rise, after having fallen last week as the copper was delivered. Zinc prices in other countries rose to $3.850 per ton. This is the highest price since June 2022, due to concerns about shortages. Stocks of the metal have increased by more than twofold this year, at warehouses approved and inspected by the Shanghai Futures Exchange. . Zinc increased?0.4%, to $3 838 per ton. LME Zinc stocks at 93 250 tons Since the middle of June, prices have fallen by 25%. In a recent note, Panmure Liberum's Tom Price said that a distortion in which both the supply and demand shrink makes it appear as if the market is tighter than a weak consumer would warrant. The traders said that 'large holdings of Zinc warrants and cash contracts 0#LMEWHC> were contributing to concerns regarding supplies on the LME. Other metals saw aluminium fall 0.1%, while lead rose 0.4%, tin increased 0.2%, and nickel gained 0.1%. (Reporting and editing by Shilpa Majumdar; reporting by Pratima Deai)
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Sources say that Ghana's GoldBod purchasers are affected by delays in funding.
Five industry sources report that companies licensed to buy gold for Ghana's GoldBod artisanal marketing agency haven't been paid in up to three weeks. This has forced some operators to stop purchases or borrow money to stay in business, despite the surging gold prices. Ghana, Africa's largest gold producer, created GoldBod 2025, with exclusive rights to purchase, sell, and export artisanal artisanal gold. This was part of Ghana's efforts to curb the smuggling of gold and increase foreign currency inflows. GoldBod was initially funded by the Bank of Ghana, which helped boost Ghana's economy. However, the IMF demanded that central bank funding be stopped after losses were linked to the purchases. This left the state agency dependent on commercial banks and importers of gold for liquidity. Sammy Gyamfi said at a recent press conference that GoldBod had raised $839 million in advance payments for purchases made between March and may. The GoldBod chief executive, Sammy Gyamfi, said at a press conference last week that the agency raised nearly $839 million?in advances for purchases between March and May. Three bank executives stated that the Bank of Ghana considered GoldBod’s auction program to be inconsistent with its operating structure and that both institutions are working to address these concerns. Kwaku Ohemeng Amosah, the Chief executive of the Chamber of Gold Buyers said that the delays were due to the fact that GoldBod was no longer able to fund itself after the central banks' exit. He added,?that buyers can seek additional funding themselves. GoldBod, and the Bank of Ghana, did not respond to requests for comment immediately. The last two weeks have been terrible. Last week, a gold dealer in Ghana's Ashanti Region claimed that you could wait for a day and still not receive funds. A?buyer from Ghana's Western Region who was funded by GoldBod said that funds hadn't been received in about three weeks. Sources requested anonymity as they were 'not authorised to speak publically? on the subject. Banking executives stated that fewer than 5 banks participated in GoldBod’s auction programme. They added that lenders felt more secure when the central banking backed the arrangement. Maxwell Akalaare Adombila reported from Dakar, and Emmanuel Bruce edited the article in Accra.
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Russell: The debate over the volume of crude oil in Hormuz hides a real shortage of refined fuels
It is a mistake that the crude oil market is debating the wrong thing about how much oil actually moves through the Strait of Hormuz. The crude oil market should be debating the restricted flows of refined products in Asia. Energy Secretary Chris Wright of the United States has claimed repeatedly that vessel tracking analysts like?Kpler cannot see how much crude oil is flowing through the disputed Strait. Wright claimed that 15 million barrels per day (bpd), or about a third of the total volume, left the Strait of Hormuz in a single day last week. If this is true, the volumes would be close to the levels before the U.S. & Israel attacked Iran on 28 February. Wright also stated that transits averaged around 9 million bpd during a 7-day period. However, he did not specify exact dates or provide details like vessel names and intended destinations. The Strait of Hormuz is estimated to be leaving around 5 million barrels per day, including dark transits from smaller vessels and transfers between larger tankers. The dispute over crude oil volume is false. If Wright's claim is true, then Asia will see a rise in oil imports as the crude that he claims is coming from the Middle East reaches ports. The market will soon be able to determine whether Wright's numbers are accurate or if they're 'overstated'. As evidenced by the sharply reduced volumes and high refining margins, Asia's markets for refined products remain under pressure. Kpler estimates that Asia's imports for light and middle distillates in August will be 5.59 million barrels per day, which is in line with 5.60 million barrels per day seen in July. These volumes, however, are down 21% compared to the average of 7.08 million bpd in the three-month period ending February. Asia is essentially having to absorb the loss of 1,49?million barrels per day (bpd) of fuels like diesel, jet-fuel and gasoline. UNEVEN FALLOUT Impact is not evenly distributed across the continent that consumes the most energy, with the less-wealthy countries bearing a greater share of the product volume loss. The imports of Indonesian light and middle distillates were estimated to be 432,000 bpd during August. This is the lowest level in 13 months, and lower than the average of 533,000 in the three-month period prior to the Iran conflict. In August, the Philippines will see an arrival of 257,000 bpd for light and middle distillates. This is down from the average of 362,000 in the last three months. Kpler estimates that August imports of middle and light distillates were 863,000 barrels per day, just a little below the 880,000 barrels per day in the three-month period prior to the Iran War. Securing fuel is expensive, as product prices remain near record levels and refinery margins are high. A Singapore refinery made a profit of $71.29 per barrel of gasoil (the building block of diesel) on August 21. This was down from a record high of $855.63 on the 30th of March, but still 226% more than the $21.90 on the 27th of February, just before the conflict began. Middle distillates are the most stressed products, due to the limited supply of Middle East crudes. Asia's refineries are designed to convert this oil type into products like jet fuel and diesel. Even gasoline, which is the primary light distillate, commands a premium with a large profit margin Ending at $20.74 per barrel on August 21? up 159% from $8.00 a barrel on February 27. The market is indicating that there are enough crude oils reaching Asia but they may not be the right grades. Also, countries with surplus refining capacity do not increase exports in order to meet the demand. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X. These are the views of the columnist, an author for.
France and Saudi Arabia agree to EUR6 billion Dragon Ball Z Theme Park Project near Paris
The Elysee Palace announced on Monday that Saudi Crown Prince Mohammed bin Salman had visited Paris and agreed to build a manga-themed amusement?park near Paris?.
The Elysee said that the project, which is based on the popular Japanese manga and anime series Dragon Ball Z, would be built in Cergy-Pontoise to the northwest of Paris, and was expected to create 22,000 jobs.
Macron advisers claim that the idea came about after French President Emmanuel Macron discovered a common interest in Dragon Ball Z with Saudi Crown Prince during Macron's trip to Saudi Arabia 2025. The project will be funded by the Saudi entertainment and investment group, 'Qiddiya. It is part of the Kingdom's efforts to diversify their economy and expand globally in the leisure sector.
Construction of what would be Europe's largest themed park is expected to take many years.
Bin Salman - who owns a Chateau near Paris - is making a rare official trip to the United States and appeared with Macron on Sunday at the closing ceremony for the Esports World Cup in Paris.
The Dragon Ball Z project is a sign that France continues to attract foreign investment. However, the key details of the sprawling development which would include three theme parks have yet to be determined.
(source: Reuters)