Business — 445 insights
US strikes Iranian tanker amid reports Washington and Tehran near deal
Business

US strikes Iranian tanker amid reports Washington and Tehran near deal

Trump reiterated that Iran ‘cannot have a nuclear weapon’ as both sides combined military pressure with diplomatic efforts to end deadlock The strike highlighted the fragility of a ceasefire that has largely held since April 8, as both sides combined military pressure with diplomatic efforts to reopen critical energy shipping routes through the Gulf. Trump said Iranian officials were eager to reach an agreement with Washington. “We’re dealing with people that want to make a deal very much, and we’ll see whether or not they can make a deal that’s satisfactory to us,” he told reporters at the White House. “We’ve had very good talks in the last 24 hours, and it’s very possible we’ll make a deal.” But the president also threatened a sharp escalation if talks collapse.

Israel strikes Beirut for the first time since Lebanon ceasefire
Business

Israel strikes Beirut for the first time since Lebanon ceasefire

Israeli media says a commander in Hezbollah’s elite Radwan force was targeted and killed in the city’s southern suburbs Israel struck Beirut ⁠on Wednesday for the first time since agreeing to a ceasefire with Hezbollah last month, with Israel saying it targeted a commander of the militant group’s elite Radwan force in the city’s southern suburbs. Israeli Prime Minister Benjamin Netanyahu and Defence Minister Israel Katz announced the action in a joint statement. Israeli media reported that the commander was killed in the strike, but there was no immediate confirmation from the Israeli military or Hezbollah. The Lebanon ‌ceasefire has underpinned a broader US-Iran truce, with a halt to Israeli strikes in Lebanon being a key Iranian demand. As Iran and the US say they are drawing closer to a deal to halt their conflict, the strikes threaten the ceasefire that halted Israeli attacks on Beirut. Israeli troops have remained in areas south of the Litani River and strikes continued in southern Lebanon. Iran ally Hezbollah has responded by firing and launching armed drones towards Israeli soldiers.

FBI reportedly probing leaks behind article on bureau chief Kash Patel’s drinking
Business

FBI reportedly probing leaks behind article on bureau chief Kash Patel’s drinking

Such an investigation would be unusual because it focuses on the journalist rather than the officials who leaked the information The FBI has opened a criminal leak investigation focusing on a journalist who wrote a critical article about Kash Patel, the head of the US law enforcement agency, the cable news channel MS Now reported on Wednesday. Patel filed a US$250 million suit last month against The Atlantic magazine and the author of the article, Sarah Fitzpatrick, calling it a “sweeping, malicious, and defamatory hit piece”. The Atlantic story accused Patel of frequently drinking to excess and said he was in danger of losing his job as FBI director. MS Now, citing two people familiar with the matter, said the FBI has launched a so-called “insider threat investigation” into the Atlantic story, which cited two dozen anonymous sources. The network said the investigation is highly unusual because leak probes are generally focused on government officials who leak information and not the journalists who publish it. An FBI spokesman, Ben Williamson, denied to MS Now that an investigation was under way.

CNN founder Ted Turner dies at 87
Business

CNN founder Ted Turner dies at 87

Aside from business and sports deals, Turner gained attention for his personal life and his ventures in philanthropy and the environment Ted Turner created CNN in 1980, revolutionising the way America, and the world, got their news, and then went on to become one of the most prominent business leaders and philanthropists of his era. A brash risk taker, Turner – whose death aged 87 was announced on Wednesday – helped reshape the television industry in the late 20th century. He also made a name for himself with spectacular business deals, his ownership of professional sports clubs, a marriage to actress Jane Fonda, his leadership of a competitive yachting team and then a devotion to charitable and environmental causes. Born in Cincinnati, Ohio in November 1938, Robert Edward “Ted” Turner III went to a military boarding school in Tennessee, and then attended Brown University, but was expelled before graduating. Turner took over a faltering family advertising business after his father, despondent over financial problems, committed suicide. After buying a number of radio stations, Turner’s purchase of a struggling Atlanta station in 1970 was his first move into television.

China condemns Japan’s first overseas ‘offensive missile’ test since WWII
Business

China condemns Japan’s first overseas ‘offensive missile’ test since WWII

Beijing says Japan’s ‘neo-militarism’ is a ‘scourge’ that threatens regional peace and stability China condemned what it called Japan’s first “offensive missile” test overseas in eight decades, saying Tokyo’s “neo-militarism” and intensified arms race had gained momentum and threatened regional stability. According to China, it was the first time Japan had launched an “offensive” weapon abroad since World War II. The missile can be used for both offensive and defensive purposes, but deploying it outside Japanese territory can be seen as an offensive posture. Chinese foreign ministry spokesman Lin Jian said it marked a significant departure from Japan’s post-war pacifist stance. He pointed to Japan’s wartime history of aggression against Southeast Asian countries, including the Philippines. “The former aggressor has not only failed to deeply reflect on its historical crimes but has instead dispatched military forces overseas and launched offensive missiles under the guise of so-called ‘security cooperation’,” he said.

Thailand vows strict tourist oversight after public sex incidents
Business

Thailand vows strict tourist oversight after public sex incidents

The pledge followed a Monday incident in Phuket where a couple was found performing a sexual act in a popular tourist area Thailand vowed on Wednesday to tighten oversight of tourists’ behaviour after a series of incidents involving foreigners caught having sex in public, warning they damaged the country’s image. Tourism is vital to the Southeast Asian nation’s economy but foreign arrivals are yet to return to their pre-Covid highs. Visitors displaying “inappropriate behaviour”, including illicit drug use, would face prosecution as it “contradicts the beautiful culture of Thailand”, the prime minister’s office said in a statement. The pledge followed an incident on Monday evening on the southern island of Phuket where a couple was found performing a sexual act in a tuk-tuk in a popular tourist area. Authorities said they were working to revoke the visas of a 41-year-old Spanish man and a 43-year-old Peruvian woman, and then deport and blacklist them. The pair admitted to the act and were charged under public indecency laws, the government statement said.

Indonesian captain among crew held as Somali pirates strike again in Horn of Africa
Business

Indonesian captain among crew held as Somali pirates strike again in Horn of Africa

Captain Ashari Samadikun had sent a chilling warning to his wife before his fuel tanker was hijacked by pirates last month “I’m about to be attacked,” her 33-year-old husband, Captain Ashari Samadikun, said in the April 21 voice note threaded with fear as a group he assumed to be pirates approached. He was captaining the Palau-flagged MT Honour 25 tanker, which was carrying fuel from Oman to Somalia – a route once notorious for pirates who appear to be staging a comeback timed with the movement of navy ships to the Strait of Hormuz 1,700km to the north. “I started crying. It was like I had been hit by a bolt of lightning,” Shanaya, who lives in Gowa Regency in South Sulawesi, told This Week in Asia. “I couldn’t believe what he had just said.” The 26-year-old desperately messaged back, but received no reply. Then his phone appeared to be switched off. For three days, the mother of two young daughters, aged six and four, could do nothing but wait and pray. Then, out of the blue, she got a video call from her husband. “I could see him sitting on the ship, looking well, but surrounded by pirates who were all heavily armed,” Shanaya said. “He told me that he was OK, and that the crew were being allowed to eat and pray.

27 held, HK$3.3m fuel seized as Hong Kong cracks down on illegal sales by triads
Business

27 held, HK$3.3m fuel seized as Hong Kong cracks down on illegal sales by triads

Investigation finds 15 vehicles and speedboat used to transport fuel from mainland China to local storage facilities and filling stations run by triads Hong Kong authorities have arrested 27 people and seized more than 21,000 litres of illicit fuel worth about HK$3.3 million (US$421,200) in a crackdown on triad-linked illegal fuel sales amid soaring global oil prices. Customs, police and fire services on Wednesday said they had jointly tackled 19 cases between April 13 and 30 in an operation code-named “Knockout”, during which 15 vehicles and a speedboat used to transport the fuel were also seized. The investigation found that the vehicles were used to transport fuel from mainland China to local storage facilities and filling stations run by triads, which then sold it to drivers seeking to exploit price differences. Of the illicit fuel seized, about 8,000 litres was petrol and 13,000 litres was diesel. Global oil prices have surged since the US-Israel war with Iran broke out in late February, which led to the closure of the strategic Strait of Hormuz. Supply disruptions pushed local unleaded petrol prices to among the highest in the region, fuelling demand for cheaper, illegal alternatives.

Japan online shops probed after listing schoolgirls’ old indoor shoes for sale at up to US$320
Business

Japan online shops probed after listing schoolgirls’ old indoor shoes for sale at up to US$320

Fans of such sales say trades are just like regular collecting, critics worry that practice may be akin to child sexual abuse Battered school indoor shoes, reportedly worn by graduating schoolgirls, have appeared in online shops in Japan, sparking fierce criticism over the fetishisation of young women. Removing outdoor shoes before entering homes, schools, companies and other public buildings is a deeply rooted custom in the country, tied to cleanliness and respect for shared spaces. Known as uwabaki, Japan’s traditional indoor shoes are typically white and shaped like ballet flats. At schools, from kindergarten through to university, students usually change into these indoor shoes at entrance lockers. Their pairs are often marked with names, class details or small personal designs. During the graduation season, student shoes often appear on flea-market apps, usually unused or in good condition.

What the BJP’s historic West Bengal victory means for Modi’s India
Business

What the BJP’s historic West Bengal victory means for Modi’s India

After his party’s stunning conquest of West Bengal, Narendra Modi stands at a juncture that would have seemed implausible mere months ago. The prime minister who lost his parliamentary majority in 2024, briefly inviting talk of a weakened leader, now controls roughly 70 per cent of India’s state legislatures through his ruling coalition, the National Democratic Alliance. The Bharatiya Janata Party’s (BJP) sweep of West Bengal, winning 207 of 294 assembly seats and ending three consecutive terms...

Hong Kong police launch investigation after man and woman found dead in flat
Business

Hong Kong police launch investigation after man and woman found dead in flat

Pair found dead in a Sau Mau Ping flat after police received a report of a man sending distressed messages before becoming unreachable Hong Kong police have launched an investigation after a man and a woman were found dead in a flat at a Sau Mau Ping public housing estate on Wednesday afternoon. Police received a report at about 4.10pm from a man who suspected his brother had taken his own life inside a flat at Tat Yan House, Po Tat Estate. Firefighters forced entry into the flat and found a man, believed to be in his seventies, and a woman unconscious inside. Paramedics later certified both dead at the scene. Police said one of the deceased was found hanging, while the other was found lying on the floor. The caller told police he had received a distressing message from the man before losing contact.

Malaysia seeks to charge 2 over US$278 million Arm semiconductor deal
Business

Malaysia seeks to charge 2 over US$278 million Arm semiconductor deal

Ex-economy minister Rafizi Ramli, who is questioned by the MACC, previously pitched the deal as key to the Malaysian chip sector’s future Individuals linked to the deal – signed under the economy ministry last year and billed as part of Malaysia’s push to move up the semiconductor value chain - are being investigated for alleged abuse of power, cheating and criminal breach of trust. “We have identified two individuals whom we will propose [for them] to be charged in court,” MACC chief commissioner Azam Baki told reporters on Wednesday. “I am not saying they will definitely be charged. Investigators can recommend charges if the evidence suffices, but the final decision rests with the attorney general.” However, Azam did not name anyone when pressed by reporters. He said: “Whoever wants to speculate, that is up to them. We do not.” Azam said investigation papers were near completion and expected to be sent to prosecutors “in the near future”, pending two remaining witnesses – one in Taiwan and one in Malaysia.