Latest Developments

Europe
The Guardian

Licensed to drill? How a Trump-linked Texas oil company is elbowing its way into Greenland

At a meeting in Ittoqqortoormiit, a settlement of 300 people, Robert Price said he believed $1tn of crude lay beneath Jameson Land. Photograph: Adrian Wojcik/Getty/iStockphotoView image in fullscreenAt a meeting in Ittoqqortoormiit, a settlement of 300 people, Robert Price said he believed $1tn of crude lay beneath Jameson Land. Photograph: Adrian Wojcik/Getty/iStockphotoGreenlandLicensed to drill? How a Trump-linked Texas oil company is elbowing its way into GreenlandGreenland Energy says billions of barrels of crude could lie beneath territory and claims it has permission to bring drilling kit ashore – a claim denied by Nuuk On 10 June, a snowy-haired American in his 60s addressed the residents of a remote Greenland hamlet. He was there to tell them about a business venture supported by figures linked to Donald Trump. “So,” Robert Price said via an interpreter, “we have a project to drill for oil here.” The Texas oil company that Price represents, Greenland Energy, hopes to prove that billions of barrels of crude lie underground by bringing in 300 shipping containers of drilling kit. “We have the permit to put the equipment on the land,” footage of the gathering in Ittoqqortoormiit shows Price saying. “And then we’ve filed our permits – pending approval – to drill.” But Greenland’s resources ministry said that contrary to Price’s claim, there were “no actually active permissions for any exploration activity or permissions for preparations for these activities”. The dispute threatens a showdown between the Trump-linked backers of Greenland Energy and the authorities in the vast, sparsely populated territory. Trump’s lieutenants are using the prospect of an American oil find in Greenland to bolster their case for an American takeover. View image in fullscreenJeff Landry, right, on a visit to Nuuk in May as Trump’s special envoy to Greenland. Landry said the territory ‘could be exporting 2m barrels of oil a day’. Photograph: Christian Klindt Soelbeck/Ritzau Scanpix/AFP/GettyThe US president’s special envoy to Greenland, the hard-right Louisiana governor, Jeff Landry, returned from a visit in May to declare on Fox News: “We need a deal. Greenland needs a deal. We could be – Greenland could be – exporting 2m barrels of oil a day right now.” Landry, who says his task is to “make Greenland a part of the US”, added: “We could have those barrels on production within 10 months or so.” Greenland Energy appears to be the only company making plans to drill in the territory. Despite seemingly not yet having permission, it has chartered an Arctic-going vessel to ferry its equipment 4,000km through icy waters to Greenland’s eastern coast. Price, an energy industry veteran who has become the public face of the company, said the vessel would depart in two months, on 12 September, with drilling to begin in October. Halliburton, the giant Houston-based contractor once led by the former Republican vice-president Dick Cheney, will run the logistics. Ever since Trump made his imperial desires for Greenland explicit, US business interests have been gaining footholds in its vast expanses. The ventures range from rare-earth minerals and hydroelectric power to bottling “luxury” spring water. Greenlanders have watched nervously as Trump has exercised US military power and toyed with doing so in the Danish territory. The day after he sent special forces to snatch the leader of Venezuela, Trump said: “We do need Greenland, absolutely.” Trump cited oil as the reason the US needed to stamp its authority on Venezuela. The US has since extracted oil revenues of about $8bn with scant oversight.

Licensed to drill? How a Trump-linked Texas oil company is elbowing its way into Greenland
Europe
BBC Business

10 years of Pokémon Go and the millions still trying to catch 'em all

Image source, AP Images for Scopely ExploreByLaura CressTechnology reporterPublished3 hours agoPokémon fans have spent the past three decades trying to catch 'em all - and since the beginning this hunt has often taken place outside the home. The popular series started out on Nintendo's portable Game Boy console in 1996, and has found modern success on people's phones. The mobile app Pokémon Go, which is now celebrating its 10th anniversary, uses GPS and augmented reality to let players find and catch virtual monsters in real-world locations. It has been downloaded more than a billion times across iOS and Android devices, with millions still logging on each day. And Michael Steranka, vice president of product at the game's publisher Scopely, says the Pokémon Go experience has always been about bringing people together. "Pokémon Go will always start with community - we think we're only scratching the surface here," he said. "We often receive wedding invites from players who met through Pokémon Go... because it's been such an integral part of their relationship." But Pokémon Go's connection with its players appears to have prevailed, as hundreds of gamers gathered in New York's Times Square on Thursday to battle a giant Mewtwo - a reference to the game's original trailer published over a decade ago, external. When it was released in 2016, Pokémon Go quickly became one of the biggest mobile game launches in history. The technology overlays digital creatures onto a live view of the real world through a smartphone's camera, making it appear as though they're standing in front of the player. It sparked a craze where people flocked to places like parks, waterfronts and shopping malls in the hope of catching Pokémon. "By allowing you to take your mobile phone out into the world to discover virtual creatures, Pokémon Go helped realise the millennial dream of becoming a Pokémon Trainer," said Matthew Reynolds, editor of Pokémon news website One More Catch, external.

10 years of Pokémon Go and the millions still trying to catch 'em all
Asia-Pacific
Channel NewsAsia

Singaporean arrested in Bali after woman found dead in rental unit

Preliminary police investigations indicate that the suspect, acting out of resentment, allegedly assaulted the victim by strangling her for about 15 minutes. A Singaporean man has been arrested in Bali after a woman was found dead in a rental unit, Indonesian police said on Jul 16, 2026. (Images: Instagram/Polresta Denpasar) A Singaporean man has been arrested in Bali after a woman was found dead in a rental unit, Indonesian police said on Thursday (Jul 16). The suspect, identified only by the initials MZ, was arrested in less than three hours by a joint police team, according to a post on the Denpasar police's official Instagram account. The victim, a 26-year-old woman from Central Java, had been in a relationship with the suspect for about a year, a police spokesperson said. Preliminary investigations indicate that the suspect, acting out of resentment, allegedly assaulted the victim by strangling her for about 15 minutes, he added. Citing immigration records, the spokesperson noted that the man visited Bali as a tourist and had overstayed since 2025. The victim's body was discovered by her younger brother, who visited the unit after being unable to contact her, Indonesian news site Detiknews reported. According to the outlet, he arrived at the rental unit and noticed a foul odour coming from the property. He reportedly asked the suspect where his sister was but received no response. The suspect fled on a motorcycle, after which the victim's brother discovered his sister's body. Another witness, identified only as DP, told police she had only recently begun dating the suspect after meeting him at a billiards outlet where she worked in Denpasar, CNN Indonesia reported. She said she had also noticed the odour when she visited the rental unit. When she later questioned the suspect about the smell, he allegedly became angry, according to the news outlet. CNA has contacted Singapore's Ministry of Foreign Affairs for more information on the arrest.

Singaporean arrested in Bali after woman found dead in rental unit
Europe
BBC Business

Why switching to save money is easier than you might think

ByKevin PeacheyCost of living correspondentPublished4 hours agoSeeking out a better deal from your broadband, pay TV and energy suppliers? While you know it could save hundreds of pounds, you might be wondering if it's worth the hassle. But often it only needs one call or a couple of clicks - and banks even pay an incentive to people who switch their main current accounts. Regulators have made the switching process easier in recent years, encouraging people to shop around when cost of living pressures have intensified. Which deals are the best for you still depends on your circumstances, but here are some of the ways that switching works. Virgin Media has just been fined £28m by regulator Ofcom for repeatedly preventing customers from cancelling contracts. The communications regulator said it uncovered tactics including agents deliberately hanging up calls, and customers being put on hold "for no reason". Millions of calls from customers were likely to have been mishandled over a three-year period which prevented or delayed them from switching to a better broadband, landline or pay-TV deal. Anyone switching now shouldn't face the same hassle. Ofcom's One Touch Switch service, launched in 2024, means you only have to contact your new provider, not negotiate with the old one. Ofcom says you should check whether you are in or out of contract, external, as you could face exit fees. Some people are motivated to switch because they are fed up with the service from their old supplier. Many do so in order to save money. So, customers may still decide to call their current provider in order to negotiate a better deal, or ask them to match the offer they could get by switching. In years gone by, most people would get a bank account early in their adult life and stick with it for decades. Competition now sees banks try to win over new customers by offering cash to switch - but only if you use their current account as your main account.

Why switching to save money is easier than you might think
Asia-Pacific
The Straits Times

Ahead of RTS Link, S’pore industry groups pitch ways to boost spend, ease retail and F&B pressures

To support business owners through the period when the RTS Link opens, the study recommends greater flexibility in foreign manpower policies. SINGAPORE – An influx of tourists from Johor Bahru is expected in Singapore once the Johor Bahru-Singapore RTS Link starts passenger service in January 2027, creating opportunities for local retailers and food and beverage (F&B) operators to capture the crowd and get them to loosen their purse strings. Here are three broad areas where businesses and policymakers can help, as outlined in a study by the Singapore Business Federation (SBF), the Restaurant Association of Singapore (RAS) and the Singapore Retailers Association (SRA). The study, titled Impact Of RTS On Singapore Retail And F&B Sector and jointly commissioned by SBF, RAS and SRA, found that Singaporeans spend the most on groceries in JB, followed by pharmaceuticals, dining and beauty. To support domestic spending, the study suggests introducing time-bound consumption vouchers to boost local retail and F&B spending amid rising RTS Link-induced outbound expenditure, and partnering businesses and trade associations and chambers to amplify voucher impact and maximise local spending through promotions, loyalty programmes and shopping festivals. As the Government already supports the local economy and retailers through the CDC voucher scheme, the call is to expand the eligibility and quantum of these vouchers to include more businesses affected by outbound spend, such as pharmacies, convenience stores and F&B operators. A second broad suggestion is to review policy and enhance support for retail and F&B businesses, enabling them to offer unique products and services that help them stand out to consumers. This can be done by adopting more flexible sourcing and accreditation frameworks to facilitate culinary innovation and cost competitiveness; reviewing regulatory barriers and policy frameworks to enable value-added services and enhance customer experience; and leveraging trade associations and chambers to facilitate pilot and experimental projects, as well as sector-wide collaboration. Big-name acts like American singers Taylor Swift and Lady Gaga, who performed in Singapore over several nights at the National Stadium in 2024 and 2025 respectively, drew huge regional crowds and generated billions in tourism spend. Replicating such mega-events is ideal, and the suggestion is to leverage them by involving more retailers and F&B merchants outside the central region and in the heartland. To do this, the study recommends stronger inter-agency coordination and earlier information-sharing with retailers, mall operators and industry associations, alongside stronger support to develop Singapore-first product launches and destination-exclusive collections. Another suggestion is to draw crowds beyond Kallang Basin and Marina Bay Sands – where the National Stadium and Sands Expo and Convention Centre are located – to the eastern and northern regions of Singapore.

Ahead of RTS Link, S’pore industry groups pitch ways to boost spend, ease retail and F&B pressures
North America
CNBC Finance

Levi Strauss beats quarterly expectations, raises guidance and dividend

Levi Strauss beat Wall Street's quarterly expectations on the top and bottom lines on Wednesday, leading the retailer to increase its guidance and its dividend. The denim maker is now expecting full-year adjusted earnings per share to be between $1.46 and $1.52, up from a prior range of between $1.42 and $1.48. At the high end, that's ahead of expectations of $1.50 per share, according to LSEG. Levi also raised its top-line outlook and is now expecting full-year sales to rise between 7% and 7.5%, compared with a prior range of between 5.5% and 6.5%. That's ahead of expectations of 6.6%, according to LSEG. About half of that growth is expected to come from higher prices and the other half is expected to come from unit sales, said finance chief Harmit Singh. The company's reported net income for the three-month period that ended May 31 was $87.3 million, or 22 cents per share, compared with $67 million, or 17 cents per share, a year earlier. In an interview with CNBC, CEO Michelle Gass said the company's core consumer is proving to be resilient — even in the face of higher gas prices. She said about two-thirds of the quarter's sales growth came from units — not just higher prices — giving the company the confidence to raise guidance and its dividend. "Our demand remains healthy," Gass said. "We're seeing strength across our key segments of consumers, so we have our core Levi's, but we're also seeing strength in signature, as well as our new premium blue tab." Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Levi Strauss beats quarterly expectations, raises guidance and dividend
Asia-Pacific
The Straits Times

Australia to boost scrutiny of Big Four accounting firms after wave of scandals

The Australian Securities and Investments Commission said it would continue a separate investigation into specific allegations involving KPMG. SYDNEY – Australia on July 16 announced plans to increase its oversight of the Big Four accounting firms after a series of high-profile governance failures in the industry, most recently by KPMG, whose staff have been accused of misusing confidential information to win contracts. The government said it had directed the Australian Securities and Investments Commission (ASIC) to improve the regulation of accounting and auditing firms, “enhancing the accountability, transparency and oversight of the audit sector”. The government’s statement did not provide details on what kind of new regulatory steps might be forthcoming, but earlier in July, it proposed bringing the firms under the regulator’s purview and providing it with more powers and stronger penalties to crack down on misconduct. ASIC also said in July it would examine whistleblower complaints about audit conduct throughout the sector, while continuing a separate investigation into specific allegations involving KPMG. The government has also said that breaking up the Big Four firms is one option under consideration. In addition to the KPMG scandal, two EY employees were sacked in June after allegedly accessing the personal banking details of the prime minister. In 2023, PwC was ​rocked by revelations it shared confidential tax policy details to win clients. In 2025, Deloitte apologised after academics found a report that the firm had prepared for ​a government department contained AI-generated fabrications. ASIC was also instructed to enforce high standards in Australia’s pension system, to take action to deter corporate greenwashing and ensure financial market infrastructure is effective. REUTERS

Australia to boost scrutiny of Big Four accounting firms after wave of scandals
Asia-Pacific
The Straits Times

Trading pricey S’pore stocks gets cheaper from Oct 5: What you need to know

Traders will be able to buy an initial group of 11 stocks priced above $10 on the SGX in smaller quantities, thereby lowering their investment outlay. SINGAPORE – From Oct 5, it will become more affordable for retail investors to trade higher-priced stocks and real estate investment trusts (REITs) on the Singapore Exchange (SGX). They can buy an initial group of 11 stocks priced above $10 in smaller quantities, thereby lowering their investment outlay. The revised board lot framework caters for two scenarios: Where prices are between $10 and $100, the minimum trading quantity will be cut from 100 units to 10 units, and where prices are above $100, the minimum trading size will be just one unit. ST takes a closer look at the eagerly awaited reduction of board lot sizes in October. The three local banks are among the 11 stocks which will drop to smaller trading sizes from Oct 5. These 11 stocks accounted for 35 per cent of trading activity on SGX in the first six months of 2026. Chawla Vikramjit Singh, director and head of securities (retail sales) at Phillip Securities, said that for investors with smaller budgets, the amount of money needed to buy a full board lot limits which stocks they can consider and how much of their cash is tied up in just one company. Take, for example, DBS, which closed at $69.10 on July 8. An investor would need $6,910 for a lot of 100 DBS shares. According to the Ministry of Manpower, the average gross monthly income from employment was $6,593 in the first quarter of 2026. This means that an average earner would not be able to buy a single lot of DBS, even if he invested his entire month’s salary into the stock. Chawla said that lowering the price barrier gives the everyday investor more flexibility to buy pricier shares and build up their investments gradually.

Trading pricey S’pore stocks gets cheaper from Oct 5: What you need to know
Asia-Pacific
The Straits Times

We are the last generation of managers who manage only humans: Salesforce S-E Asia CEO

In the future, most companies will be operating teams that comprise both human workers and AI agents, says Arundhati Bhattacharya, president and chief executive of South and South-east Asia at Salesforce. SINGAPORE – Ask a worker in a modern and advanced country such as Singapore about artificial intelligence, and you may hear apprehension. Ask one in India, and you are more likely to hear hope. It may be that people who already enjoy a comfortable standard of living in advanced economies simply have less to aspire to. This disparity in sentiment towards AI could stem from the transformative impact that technology has had on Indian society, says Arundhati Bhattacharya, South and South-east Asia president and chief executive at cloud software provider Salesforce. She recalls an AI summit she attended in Delhi in February. “Not one of the attendees asked what would happen to their jobs,” she says. “How would AI help them and what are the opportunities – that was what all of them wanted to know. This was such a contrast to some of the other conferences I’ve been to in the West.” Amid global fears that AI will displace jobs, optimism about the technology is growing in India – home to the world’s largest youth population of some 371 million, says the 70-year-old Indian national. People in lower socio-economic classes, she notes, have benefited enormously from technologies like mobile connectivity and universal digital payments, which have transformed the way locals do business. Living standards in India have risen rapidly as a result. “Young people in such countries believe technology is going to make their lives better and, therefore, welcome AI,” says Bhattacharya. While Singapore already has the expertise, with digital services well entrenched in society, its ageing population makes it urgent for workers to become proficient in AI, Bhattacharya notes. This way, younger Singaporeans can combine their technological know-how with the experience of their older colleagues to take on more complicated tasks once considered too difficult. She says more needs to be done to educate people on how much AI can improve their lives. Beyond enhancing citizen services, it can open up new opportunities and knowledge fields once closed to them. In countries larger and less developed than Singapore, AI has become essential to delivering public services, she adds.

We are the last generation of managers who manage only humans: Salesforce S-E Asia CEO