A soldier made over $400,000 profiting from inside information on the U.S. capture of Venezuelan leader Nicolas Maduro — and made a clumsy attempt to cover it up, according to an indictment.
A soldier made over $400,000 profiting from inside information on the U.S. capture of Venezuelan leader Nicolas Maduro — and made a clumsy attempt to cover it up, according to an indictment.
Europe is facing its first monthly drop in seaborne supply of natural gas in over a year, with volumes dampened by terminal works and tighter global flows. Fewer tankers with liquefied natural gas have reached Europe so far this month compared to April last year, and the gap is widening as the month progresses, according to ship data compiled by Bloomberg. Estimates from data intelligence company ...
Europe is facing its first monthly drop in seaborne supply of natural gas in over a year, with volumes dampened by terminal works and tighter global flows. Fewer tankers with liquefied natural gas have reached Europe so far this month compared to April last year, and the gap is widening as the month progresses, according to ship data compiled by Bloomberg. Estimates from data intelligence company Kpler show full-month volumes could be about 3% lower — the first year-on-year decline since the start of 2025. Final numbers can change as tankers sometimes re-route depending on market conditions. The shift follows record LNG flows in March, when Europe had yet to fully feel the energy shortfall triggered by the Middle East conflict. While some cargoes from the US and Nigeria were quickly diverted to Asia — the region most exposed to Gulf supply cuts — surging prices triggered widespread demand destruction across the Pacific, helping to ease market pressure. The decline in Europe’s imports in April reflects a combination of factors, including planned maintenance and unplanned outages at import terminals in Spain, Greece, Italy and Germany, as well as tighter global supply, said Ronald Pinto, principal gas and LNG analyst at Kpler. “There’s a higher pull from Asia,” he said. Although “only recently we’re seeing a bit of a slowdown at the EU-27 level relative to 2025.” Traders are closely watching Europe’s LNG imports, as the region will need more gas in the coming months to replenish depleted inventories ahead of next winter. Its largest supplier, Norway, has recently increased seasonal maintenance, slowing storage injections. Still, there is time for refilling to accelerate over the summer, with much depending on prices. Global gas demand dropped after the war disrupted supplies, as many Asian buyers switched to coal and other alternatives, temporarily balancing the market. But Europe may have to pay up during hotter months, when Asia’s cooling demand rises and buyers see...
China’s largest fund manager has doubled down on consumer stocks, betting on a rebound in spending as early signs of stabilisation emerge in the property and catering sectors. Zhang Kun, who oversees US$6.9 billion at Guangzhou-based E Fund Management, increased exposure to leading baijiu makers and e-commerce platforms in his flagship mutual fund during the first quarter, according to a quarterly...
China’s largest fund manager has doubled down on consumer stocks, betting on a rebound in spending as early signs of stabilisation emerge in the property and catering sectors. Zhang Kun, who oversees US$6.9 billion at Guangzhou-based E Fund Management, increased exposure to leading baijiu makers and e-commerce platforms in his flagship mutual fund during the first quarter, according to a quarterly filing released on Thursday. The combined assets of the four funds he manages remain the largest...
(Kallista) The Australian songwriter’s fourth album exists in the captivating chasm between the coolness of her music and the unrepentant obsession of the crush it explores Across what is now four albums, Australian singer-songwriter Carla dal Forno has moved with an eerily light gait across spartan post-punk landscapes with the occasional spot of sunlight from dub or indie-pop. She has said her l...
(Kallista) The Australian songwriter’s fourth album exists in the captivating chasm between the coolness of her music and the unrepentant obsession of the crush it explores Across what is now four albums, Australian singer-songwriter Carla dal Forno has moved with an eerily light gait across spartan post-punk landscapes with the occasional spot of sunlight from dub or indie-pop. She has said her latest, Confession, is about “a friendship that became emotionally charged in an unexpected way”, a drama that plays out in a series of riveting scenes. Powered by a New Order-worthy bass line, opener Going Out confesses her shame as a romantic obsession hardens into brute determination; Dal Forno’s tone of voice is unrepentantly chilling as she makes up her mind to acquire her target. That obsession continues on the title track, though it’s as if Dal Forno tries to brush off how deep it goes by using a bright, gently skanking rhythm (a style familiar to listeners of 2022’s Come Around). The coolly funky Nighttime crackles with erotic potential, but other songs contain hurt and regret – though again, it’s not always mirrored by the music, which takes in naive twee-pop melodies, peppy coldwave and more. All of her conflicted feelings rattle around the superb Under the Covers, about the inexorability of not just attraction, but also the stasis that can set in to a relationship. Continue reading...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter We're living in an extraordinary moment for Latin American politics. From the ousting of Maduro to the ongoing oil blockade of Cuba to Javier Milei revving up a chainsaw at CPAC. Various leaders in different countries are taking different approaches to their relationship with th...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter We're living in an extraordinary moment for Latin American politics. From the ousting of Maduro to the ongoing oil blockade of Cuba to Javier Milei revving up a chainsaw at CPAC. Various leaders in different countries are taking different approaches to their relationship with the US. Each is aware that there is a high value in being close to Trump, but also each know that Trump won't be the US President forever. So how should we understand the different approaches being taken? Today we talk to James Bosworth, who is the the founder of Hxagon, a company that does political risk analysis and research primarily in Latin America. He is also the author the Latin America Risk Report newsletter. Our conversation with Bos covered what he calls the \
The Swiss National Bank is closely monitoring fallout from the Iran war and can steer the franc’s exchange rate without limits if necessary, according to President Martin Schlegel. “In uncertain times such as these, we are particularly vigilant,” he said on Friday. “We have unrestricted room for manoeuvre with regard to the SNB policy rate and foreign exchange market interventions.” Swiss borrowin...
The Swiss National Bank is closely monitoring fallout from the Iran war and can steer the franc’s exchange rate without limits if necessary, according to President Martin Schlegel. “In uncertain times such as these, we are particularly vigilant,” he said on Friday. “We have unrestricted room for manoeuvre with regard to the SNB policy rate and foreign exchange market interventions.” Swiss borrowing costs have been at zero since June, with economists expecting officials to stay on hold through 2027. But Schlegel and his peers have repeatedly highlighted that the war in Iran has increased their willingness to intervene if haven flows cause the franc to appreciate excessively. In a newspaper interview published earlier on Friday, the president also stressed that negative rates remain an option. Addressing the central bank’s annual shareholder meeting in Bern, Schlegel highlighted that the SNB is prepared to adjust policy “at any time if necessary.” It would do so as soon as inaction would jeopardize price stability, he added, without elaborating on when this might be the case. Speaking to Neue Zuercher Zeitung, he had echoed earlier comments that policymakers stand ready to cut borrowing costs below zero, although such a move would face a higher bar than a reduction above that level. “While we have repeatedly emphasized that the hurdles for reintroducing a negative interest rate are higher than those for a ‘normal’ rate cut in positive territory, we also say that if necessary, we will not hesitate to reintroduce a negative interest rate,” he was cited as saying. An account of the central bank’s March rate decision, published last week, revealed that officials agreed that while medium-term inflationary pressures were virtually unchanged compared with three months before, they should stay on high alert about the strength of the franc. Economists at UBS estimated on Thursday that the SNB bought about 2.5 billion francs ($3.2 billion) worth of foreign exchange in March, we...
As Southeast Asian leaders descend on Cebu in the Philippines for the 48th Asean summit on May 8, immediate concerns such as the global energy crunch will top the agenda. Yet a year-end deadline to finalise a long-delayed code of conduct in the South China Sea looms for bloc chair Manila. At a panel at Atma Jaya University in Jakarta on Thursday, Philippine Foreign Affairs Secretary Theresa Lazaro...
As Southeast Asian leaders descend on Cebu in the Philippines for the 48th Asean summit on May 8, immediate concerns such as the global energy crunch will top the agenda. Yet a year-end deadline to finalise a long-delayed code of conduct in the South China Sea looms for bloc chair Manila. At a panel at Atma Jaya University in Jakarta on Thursday, Philippine Foreign Affairs Secretary Theresa Lazaro stressed that completing the code this year was “something that we owe the world as well as the...