Latest News
-
Trump is granted a court order to stop restoring climate park exhibits and slavery.
The U.S. appeals court lifted an order on Thursday that required the Trump administration to restore dozens of exhibits it had removed from national parks, including those on slavery and climate changes. The 1st U.S. Circuit Court of Appeals, a three-judge panel based in Boston, has put on hold a judge's order requiring the National Park Service to reinstall?exhibits that it removed under President Donald Trump's directive targeting displays?that "inappropriately disparage Americans past or living." Circuit Court of Appeals halted a judge’s order requiring that the National Park Service reinstall 'exhibits' it had removed as a result of President Donald Trump's directive to target displays that "inappropriately disparage Americans living or dead." Last month, U.S. district judge Angel Kelley in Boston concluded that the displays had been removed from the nation's park as part of the illegal effort by the administration to "rewrite" the nation's past with a whiteout pen. She reached this conclusion after a lawsuit filed by groups representing park conservators, historians, and scientists. They accused the administration of launching a 'conducted censorship campaign' to erase aspects of American History that didn't?conform with Trumps ideals. A panel of the '1st Circuit, made up only of judges appointed under Democratic presidents, agreed to suspend?Kelley’s ruling while the administration appealed it. They said the government would likely prevail. Requests for comment were not immediately responded to by the U.S. Department?of?Interior which oversees the National Park Service and the lawyers?for plaintiffs. Reporting by Nate Raymond, Boston; editing by Chizu Nomiyama, Cynthia Osterman
-
Document shows that the German deal to replace dropped frigate program could cost EUR12 billion.
A new deal to replace Germany’s scrapped 'Rheinmetall' warship programme, could cost the government up to EUR12 billion (USD13.7 bn), according to a document from the finance ministry. The defence firm is assessing the impact of the new agreement on its earnings. Berlin has chosen Thyssenkrupp’s marine unit TKMS to replace Rheinmetall, after delays and cost overruns were expected. This is a major blow for Germany’s largest defence firm. The draft document that was seen by? The draft document, seen by?sprachvermögensprache?sprachsprach The draft document, which was? The government's??sprache The? Thursday and to be presented before the budget? According to the document, there is also an option to buy up to four additional units for EUR5.3 billion. According to the draft order of four ships rather than eight initially was the key reason for the relatively high unit cost, which was around EUR1.57 billion each vessel. Rheinmetall announced on Thursday that it would be evaluating any additional impact of the cancellation of six F126 frigates?on its full-year outlook. It said that the cancellation would reduce the company's order intake for each quarter by approximately EUR20 billion. Without mitigating measures, it added, 2026 revenues could be hit up to EUR300 millions. Rheinmetall announced that it would provide a more?complete assessment when reporting its?second quarter results on August 6th.
-
Syrian state media report that six people were killed and others injured in a blast at a Damascus café.
According to the Syrian state media, a bomb explosion at a packed?cafe central Damascus on Thursday killed six people and injured 22 others. No one has claimed responsibility. Syrian state TV reported that an explosive device was planted in a cafe near the Palace of Justice, located in the heart of the capital. According to Syrian state-run media, Damascus governor Maher Idlibi claimed that the explosion was caused by an improvised explosive devise crudely constructed. Social media videos circulating on the internet showed blood and wounded people on the floor of a 'cafe that was allegedly the scene of the explosion. Could not verify the footage immediately. The attack is a 'new security challenge for the Syrian government led by President Ahmed al-Sharaa who assumed control in late 2024 after ousting former President Bashar al-Assad. Assad's removal effectively ended over 14 years of a?civil conflict. Since then, Damascus is home to a few?security incidents. One of these was a car-bomb that injured 18 people and killed a Syrian soldier in front of the Defence Ministry. Security officials said that although no group has claimed responsibility for the explosion on Thursday, Islamic State is trying to exploit the security vacuum left by the ouster of Assad by reactivating sleeping cells, recruiting fighters and moving weapons, as the new government expands its control across the country. The militant group declared earlier this year what it called a new phase in its operations against Sharaa’s government. The?group has become weaker than it was when it ruled large areas of Syria and Iraq prior to the collapse of their self-declared Caliphate. It is still capable of launching deadly insurgency style attacks and is seen by Syrian, Iraqi, and Western officials to be one of the greatest threats to Syria's future. Other opponents of Sharaa include Assad's officers and soldiers. Syria was rocked in?2025 by fighting between the new government and Alawite insurgents, as well as between government forces, and Druze gunmen. (Reporting and Writing by Jana Choukeir; Editing by Timothy Heritage Gareth Jones, Aideth Lewis, Timothy Heritage)
-
Sources: Nayara refinery in India sells its gasoline to Russia through traders
Two'sources' with first-hand knowledge of the situation said that traders have sold Nayara Energy gasoline to Russia. The country is currently experiencing fuel shortages due to Ukrainian attacks on its energy infrastructure. On Wednesday, it was reported that Russia began seaborne imports from India of gasoline. The supplier wasn't named. Nayara has not responded to an email seeking comment. Rosneft, the Russian oil giant, owns a 49% stake. Hardeep Singh Puri, the Indian Oil Minister, said at a media briefing on Thursday that Indian oil companies did not sell fuel to Russia. However, it was "possible", that Russia bought fuel of Indian origin from traders. Since the European Union sanctions of last July, Russia-backed refiner Nayara has relied on traders to import and export refined fuels. Since the sanctions, Nayara has only been able to process?Russian crude oil at its Vadinar refinery located in western India. According to an industry source, the report on Wednesday stated that at least 60,000 metric tonnes of gasoline were sent from India to Russia. Another source said that two tankers carrying between 30,000 and 40,000 tons had been sent. A tanker invoice seen on Thursday shows that the vessel Agni, loaded with 'gasoline from Vadinar,' sailed 'for Fujairah?on June 20, despite LSEG tanker data showing that the Cameroon flagged vessel had passed past Fujairah heading north and was in Suez.
-
Australia warns of risk to iron ore prices from China's state buyer
A report released by the Australian government on Friday stated that efforts made by China's iron ore buyer, which is backed by its state, to reduce?costs of Chinese steel mills could push prices down in the medium-term. This was a rare admission that such activities may affect earnings. Iron ore is Australia's largest export. It contributes significantly to the government's revenue. China purchases roughly three quarters of all seaborne trade. In its Resources and Energy Quarterly Report, the Department of Industry, Science and Resources said that state-backed China Mineral Resources Group has increased activity 'in the iron ore markets this year, which includes a high-profile battle with BHP. The CMRG has tried to influence changes in 'pricing mechanisms' among miners with the goal of reducing costs for Chinese Steel Mills. The department stated that this could lead to a decrease in the benchmark price over the'medium-term. This comment is one of the clearest acknowledgments by the government of the impact that CMRG could have on the steel industry. CMRG was created in 2022 in order to consolidate the buying power of steel mills and increase their leverage in negotiations with BHP, Rio Tinto, and Fortescue. CMRG asked certain domestic steel mills to not accept delivery of some portside iron ore from Fortescue. This was reported by the media on Wednesday. Fortescue refused to comment. CMRG has not responded to a request for comment sent via email. The government is closely monitoring the negotiations between CMRG and miners, as it fears that lower benchmark prices or changes in price arrangements could impact tax revenues and profit. Madeleine King, Minister of Resources, said that the government is keeping a "close eye" on iron ore developments this year because it's important to the federal budget and economy. Iron ore prices were a cautionary note in a report that was otherwise positive, and which upgraded the outlook for commodity export earnings. After the conflict in the Middle East, the government increased its forecast of the value for exports during the fiscal year that began on July 1 by 11% over its December outlook. The new figure is A$416 ($286 Billion) Due to the volatility of the market, it did not publish a quarterly report for March. In addition, the government has raised its "forecast" prices for a number of commodities in comparison to previous reports. Now, it expects to see iron ore priced at $91 per metric tonne, instead of $85, and gold?at $4.792 an ounce, rather than $4.049. Last week, spot gold traded at $4 063 and iron ore last traded at $98.5. The government also stated that it expected LNG prices to be higher than $11.3 per million British Thermal Units, and then decline to about $11 in 2028. Asia Spot LNG Last priced at $15.35
-
Barcelona introduces bracelets that monitor heat for outdoor workers
Barcelona has begun giving out heat-monitoring wristbands to outdoor workers as an early warning system of health risks. Around 1,400 bracelets have been distributed by the?city to staff who work outdoors. This includes street cleaners and lighting crews as well as park workers, waste management staff, and employees of street cleaning companies. Pep Llimona is the prevention coordinator for the city's Parks and Gardens service. The bracelet detects the worker's body temperature, and will emit a vibration and sound if the wearer is in danger. The workers must stop working if this happens. As temperatures soared in Spain, a number of street workers died. This prompted changes to working patterns and conditions. A 51-year old woman in Barcelona died last June while sweeping the streets of the city's historic center at temperatures as high as 30.4 degrees Celsius. Barcelona City Council announced at the time that it would initiate an investigation into death. A spokesperson from the city stated on Thursday that there was no indication of heatstroke as the cause. Pep Llimona stated that the plan to introduce heat bands was already in place before the woman's demise. She said, "But it's true that it helped us?to accelerate things and made us think a bit more." Spain, like a large part of Europe, has experienced sweltering temperatures in the past few weeks. The weather agency Aemet recorded June as being the second hottest month on record. The country is preparing for a second heatwave that will begin at the weekend. "Because the heat is increasing, we need to be more vigilant at work," Brigade Supervisor Ester Jimenez said. As the supervisor who assigns tasks to staff... "I'm worried someone could suffer heatstroke and I see the world as being complicated because of this heat". Reporting by Horaci Garca, Writing by Javi Larranaga and Editing by Aislin Laing, Alex Richardson, and Aislin Laing
-
Andy Home: War and peace will have a major impact on the first half of 2026 for metals traded at the LME.
Operation Epic Fury, launched at the end of February, quelled the early-year euphoria which had propelled copper and tin prices to new highs. Since then, the Iran war has dominated headlines. This has made trading difficult for traders as the headlines are so confusing. Strait of Hormuz appears to have entered into a quantum world in which it is simultaneously open and shut, depending on who is speaking at any given time. Vandana Hari is the founder of oil market analyst?Vanda Insights. She says Schrodinger's Strait continues to reopen, but it's patchy and unpredictable. This is a good way to describe the current peace negotiations in Doha. The LME Index (a basket of six base metals traded in London) has fluctuated from elation to depression to resilience during the first half of the year, and ended the period somewhere between. The performance of each metal has varied widely depending on its sensitivity to Gulf news. ALUMINIUM HIT The war has caused the aluminium industry to suffer direct losses. Two Gulf smelters were hit by missiles, and other smelters have been affected by logistics problems. According to the International Aluminium Institute, regional production fell by 2 million metric tonnes annually between February and may. At the beginning of June, the unprecedented supply shock sent three-month LME aluminium to its highest level in four years at $3,787.50 a ton. Since then, the war premium has almost completely dissipated as market prices have returned to a sort of normality. Low?LME inventories are part of the new normal. The combined on-and off-warrant stock has shrunk to just under 400,000 tons. Most of the metal is Russian. Confusion over Copper The war has added confusion to an already confusing copper market. Copper's potential impact on the global economy is negative at a macro-level. On a micro-level, however, the Strait closure has caused a shortage of sulphuric acids, which is affecting copper producers who use leach technology. Copper concentrates is a dysfunctional market. Smelter treatment conditions have collapsed to the point where processors now depend on anything but copper for profit. The market for refined metals is on tenterhooks as it awaits a decision from President Donald Trump on tariffs. Any day now, a decision will be made. The U.S. premium continues to drain metal from around the world. Since the middle of May, LME 3-month copper has been teetering between $13,000 per ton and $14,000. There are still plenty of super bulls in the LME option market. Investors like the copper story about a structural supply deficit. ZINC SURPRISE Zinc has surprised the LME pack this year, despite having little direct exposure to war. Early in June, LME zinc for three months hit a high of almost four years at $3,658 a ton. The price closed the month 14% higher than it was at the beginning of the year. Tin had the strongest performance. According to the International Lead and Zinc Study Group, the global zinc market is in a slight deficit. The shortage is concentrated outside of China, where the smelter industry continues to perform below expectations. China is increasing its production and will soon be self-sufficient. NICKEL PLAYS INDONESIAN NUMBERS GAMES The nickel trading story has been dominated by Indonesia and its government's efforts to curb the production of this sector. The LME nickel price for the three months of May reached a record high of $20,000 per tonne, a level not seen in two years. The Gulf sulphur "squeeze" has put more pressure on Indonesian producers who use acid in their leaching operations. The price has fallen to $16,000 per ton due to the growing speculation that Indonesia will loosen its mining quotas. As Jakarta considers its options, excess metal continues to build up. LME stock levels have peaked, but Shanghai Futures Exchange inventories just exceeded 100,000 tons for first time since 2016. TURBULENT TIN AND OVERSUPPLIED LEADS Lead and tin have not been affected by the Gulf War, so each can follow their own narrative. This is the case for tin. The structural shortage of the metal used in electronic soldering will be a problem. Tin was the best performer in the LME complex for the first half 2026 with gains of 27% year-to date. Lead is, on the other hand, a market that has been weighed down by excess metal. It closed out the first half of this year with a loss of 7%. Since the beginning of the year, the combined LME on-warrant and off-warrant inventories have hovered around the 500,000-ton level. LME trading is characterized by warehouse arbitrage and inventory rotation between on warrant and off warrant storage. This also shows how the aluminium market has changed dramatically since the beginning of the Iran War. Andy Home is a columnist at. This column is great! Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
-
Relocating six million Singapore bees, and counting - one nest at atime
Clarence Chua, 42, rescues bees with a bandana, and sometimes his bare hands. He scoops?them? from nests into wooden boxes, to relocate them. Chua stated, "I like that they don't mind if I am close to them as long as you respect them and do not threaten their safety." Residents of tropical Singapore who find bees nesting inside their homes will typically call "pest control" to exterminate the nests within minutes, for about S$80-S$150 (62-$116). Chua has persuaded a growing number of people to let him rescue bees between S$100 to S$500. He has relocated 100 nests per year on average in the past six years. This is equivalent to saving 6 million bees. The humane relocation involves moving the entire nest while keeping the queen, baby bees, and worker bees in the colony. The bees are then'moved to the three apiaries he manages. One of them is in his backyard. Chua has saved bees in all kinds of exotic places. From a "spirit home" inside a condominium, to the engine of a plane, which couldn't take off until a swarm had been relocated. He noted that as awareness about bee rescues improved, local town councils which manage public housing estates?where almost 80% of population live? began to engage his services. The job is not without dangers. He once tried to rescue what he thought were docile, calm bees from a condominium ledge, but they attacked him. In the 30 second it took him to undo his harness and escape, he had been stung 100 times. He said that it taught him to never underestimate nature. He still approaches nests without a beesuit to gauge the mood of the swarm before donning a suit if they seem agitated. Chua promotes bee rescues via social media. Some of the videos of his exploits are shot from a first-person perspective with Meta glasses. They have attracted?some 20,000 fans. "Without bees there will be much less fruit or more expensive fruit because there is a shortage of fruit around the world." He said that we are dependent on a staggering amount of crops for our survival.
Kuwait's crude oil production surged sharply in June following the US-Iran agreement, a source said
Kuwait's crude production jumped to 1.65m barrels a day in June, from just 580,000 bpd a month earlier, a source with knowledge of the situation said on Thursday. The OPEC member is boosting exports via the Gulf after the?U.S.-Iran peace agreement. Kuwait's surge in crude oil production is a sign that Gulf oil flows through the Strait of Hormuz have recovered rapidly after the disruption caused by the Iran War. Stranded cargoes are slowly clearing the Strait of Hormuz, and exporters are restoring their production. Kuwait produced about 2.5 million barrels of oil per day before Iran effectively closed the Strait of Hormuz in response to U.S., Israeli and NATO attacks. This prompted Kuwait and other Gulf producers such as Saudi Arabia and Iraq cut their oil production by millions of barrels each day.
The source who refused to identify himself said that daily production increased to 1.9 million bpd during the last 10 days in June. The report led to an increase in oil prices on Thursday. Crude oil was already trading at its lowest price since late February just before the start of the war. A spokesperson for Kuwait Petroleum Corporation, the state-owned oil company in Kuwait, did not respond to a comment request immediately. A tender document issued a day after the company announced that all force majeure notifications from during the war had been lifted. Kuwait was one the hardest-hit Gulf countries from the Iran War because the Strait effectively halted all flows. Kuwait, unlike Saudi Arabia and the United Arab Emirates which can use other export routes than the Strait of Hormuz for their crude exports, relies almost exclusively on the waterway to export its crude, effectively cutting it off from key markets like Asia during the disruption. (Reporting and editing by Elaine Hardcastle, Alex Lawler, and Ahmad Ghaddar)
(source: Reuters)