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Veteran L.A. County politician to challenge Kenneth Mejia for city controller

Isadore Hall, a former state legislator and Compton City Council member, launched a campaign Monday to challenge Los Angeles City Controller Kenneth Mejia.

Mejia, a young leftist who electrified the typically staid race for controller in 2022, announced his own reelection bid earlier this month.

Hall, who is backed by a slew of prominent endorsers, argues that Mejia has been more focused on “social media theatrics” than protecting tax dollars.

He said he would bring common sense leadership and accountability, citing his lengthy track record in elected office and master’s degrees in management and public administration, as well as experience weeding out government waste and fraud in Compton.

Hall, who moved to Los Angeles in 2016 and represented parts of the city in both the Assembly and the state Senate, said he launched his bid after being asked by “some elected officials,” along with several pastors and labor leaders, though he declined to provide specifics.

Hall’s endorsements include L.A. County Supervisors Janice Hahn and Kathryn Barger, L.A. City Councilmember Bob Blumenfield, California Treasurer Fiona Ma, Insurance Commissioner Ricardo Lara and five state legislators. If elected, Hall would be the city’s first Black controller; Mejia, who is Filipino American, previously made history as the first Asian American elected to citywide office in L.A.

“It’s one thing to be a great finance person or an auditor or a person who understands numbers … but you also have to have a temperament. You also have to understand the importance of governance,” Hall said, arguing that Mejia’s office is poorly managed and lacks good communication with city department heads and other local leaders.

Mejia has sought to demystify the city’s complex budget process and finances with frequent social media videos. His office has audited the Los Angeles Police Department’s use of helicopters, homeless shelter bed data and the implementation of an anti-tenant harassment ordinance, among other topics.

It’s still unclear whether other candidates will enter the race for controller — a coveted role that is one of three citywide offices, along with mayor and city attorney.

L.A. City Councilmember Monica Rodriguez has been rumored to potentially be interested in a bid for either mayor or controller, though she declined to discuss her plans with The Times last week.

Hall and Mejia represent vastly different flanks of the Democratic Party, and the coming race will almost certainly pit L.A. establishment politics against the city’s ascendant left.

Three years ago, despite being heavily outspent, Mejia made political mincemeat of Paul Koretz, who had held elected office since before he was born. Young voters who were previously unaware that L.A. even had a controller were galvanized by Mejia’s unorthodox campaign, which directed an unprecedented spotlight toward L.A.’s chief accounting officer, auditor and paymaster.

Mejia’s successful campaign coincided with a moment where faith in L.A. City Hall was at a nadir amid numerous criminal scandals and an explosive leaked recording of some City Council members frankly discussing politics in sometimes racist terms. The question in 2026 will be whether the civic pendulum has shifted and if the phrase “veteran politician” still doubles as an effective slur. Mejia will also now be running as the incumbent rather than an outsider.

Hall, 52, has spent roughly 15 years in elected office, beginning with the Compton school board in his mid-20s.

Like Mejia, who is now 34, Hall found success in politics relatively young. But his career ascended the old-fashioned way — through incrementally higher offices and with the support of the pastors, labor and community groups who have long powered the Democratic political machine in South L.A. and surrounding cities.

After losing a hard-fought bid for Congress in 2016, Hall was appointed by then-Gov. Jerry Brown to the California Agricultural and Labor Relations Board. Hall was originally seen as a shoo-in victor during his congressional campaign, but underdog challenger Nanette Barragán succeeded, in part, by hammering him on his ties to special interests in the oil, alcohol and tobacco industries, according to prior Times reporting.

Mejia first made his name with unsuccessful runs for Congress as a Green Party candidate. He found his stride and exploded as a political pied piper of sorts during the 2022 election, where his energetic TikTok videos, sharp billboards and occasional dances in a Pikachu costume helped fuel the energy of the moment.

Attempts by critics to paint Mejia in 2022 as too “extreme” because of his anti-police positions and past bombastic tweets largely fell flat.

He faced some growing pains in City Hall, including early staff turmoil within his office, but he has largely been a quieter presence than many expected.

As the race heats up, Mejia will almost certainly attack Hall for a number of controversies involving campaign finance.

During his 2014 campaign for state Senate, rivals attacked Hall for his use of campaign funds to pay for expensive dinners, limousine rentals, luxury suites at concerts and trips — expenses he defended as legitimate campaign costs.

In his 2016 congressional run, he was accused of illegally spending general election funds during the primary. A Federal Election Commission audit confirmed some misuse but took no enforcement action.

Hall said last week that he hadn’t been an expert in the complex rules of congressional campaign finance but held his accountant accountable for the error and learned from the experience.

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World Athletics Championships: Molly Caudery’s pole vault bid ruined by injury as Emile Cairess pulls out of marathon

With temperatures of about 30C accompanied by intense humidity continuing to pose a challenge to the athletes in the Japanese capital, Cairess was unable to complete the men’s marathon.

The 27-year-old Briton, a medal contender after placing fourth at the Paris 2024 Olympics, stopped by the roadside with less than three of the 26.2 miles remaining and the lead group beginning to move out of reach.

“I tried my best. I just got too hot, simple as that really. The conditions were so tough,” said Cairess, who finished third in last year’s London Marathon.

“When I stopped, I just took ages to just feel all right again. I used all the stations to be diligent with the ice and the sponges. While it helped, it just still got too hot.

“I did a decent amount of preparation for the conditions, as much as I could balancing it with training. I’ve not known conditions like it, but this is only my fourth marathon. I did the best I could.”

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Stunning Love Islander lined up as bombshell for US Games show in bid to crack America

A stunning Love Island UK star has been lined up as a bombshell for season 2 of US Games. 

Two Brit Love Islanders have already been announced for the show and now a third will be added to the mix in a bid for her to crack America. 

Woman in a patterned bikini on a boat.

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Stunning Love Islander Catherine Agbaje lined up as bombshell for US Games show in bid to crack AmericaCredit: Instagram
Catherine from Love Island.

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The brunette bombshell first appeared on the ITV2 dating show back in 2023Credit: ITV

Irish lass Catherine Agbaje, 25, is taking another shot at love and money as she enters the villa for a third time.

The brunette bombshell first appeared on the ITV2 dating show back in 2023 but failed to find love on the show.

During her first time in the villa Catherine coupled up with Zachariah Noble, Scott van der Sluis and Elom Ahlijah-Wilson.

While she left the villa with Elom, Catherine was left heartbroken when things didn’t work out with Scott.

She went back for a second time on All Stars and met Omar Nyame and the two coupled up eventually exiting the show together. 

Omar and Catherine managed to reach the final during their stint, finishing in fourth place. 

But, the couple failed to make it work once the show ended and they went back to their normal lives.

Now Catherine will be trying her luck in Love Island Games as a bombshell, an insider told us: “Catherine has flown out to Fiji and is in holding right now – she’s being lined up as a bombshell for Love Island Games. 

“She didn’t find love the first two times around on the ITV show – but wants to find a man and crack the US this time!”

Catherine’s rep and Peacock have been contacted for comment.

Love Island’s Emma cosies up to newly single ITV star

Series two of Love Island Games kicks off on Wednesday, September 16 and UK viewers will recognise a few of those taking part

The spin-off will bring together iconic Islanders from the UK, USA, France, Malta, Belgium and the Netherlands. 

Lucinda Strafford, who shot to fame on series seven of the UK version before appearing in Love Island Australia series five, and series 10’s Tyrique Hyde will both be part of the starting line-up. 

But Harriett Blackmore – from series 11 and All Stars series two – and Toby Aromolaran, who first appeared on the same series as Lucinda before returning for the first All Stars spin-off in 2023, will make a splash with late entrances

Meanwhile, fellow Islander and All Stars winner Gabby Allen has also signed up for the Games spin-off.

She agreed to take part in the upcoming series filmed in the US after her split from Casey O’Gorman.

Scott van-der-Sluis and Catherine Agbaje chatting on Love Island.

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Catherine was left heartbroken when things didn’t work out with Scott van der Sluis on her first villa stintCredit: Rex
Tyrique Hyde, Love Island Games season 2 contestant.

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Series 10’s Tyrique Hyde will be part of the starting line-upCredit: NBC
Lucinda Strafford, Love Island Games season 2 cast member.

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Lucinda Strafford who shot to fame on series seven of the UK version is also apart of the OG lineupCredit: NBC

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Yadira Caraveo ends bid to regain a Colorado congressional seat

Sept. 12 (UPI) — Former Rep. Yadira Caraveo of Colorado has halted her attempt to retake her former congressional seat that she lost to Republican Rep. Gabe Evans on Nov. 5.

Caraveo is a pediatrician who represented Colorado’s 8th Congressional District for one term but lost to Evans, who received 163,320 votes to Caraveo’s 160,871, according to Ballotpedia.

Despite the close election result, Caraveo on Friday said she was ending her candidacy for the seat that has several other challengers for the Democratic Party’s nomination, The Denver Post reported.

“This was not a decision I made lightly,” Caraveo said in a prepared statement.

“Unfortunately, I faced very strong resistance to my candidacy this cycle due almost entirely to the stigmatization of mental health in America,” she continued.

“I hope that one day we will see more acceptance and understanding of illnesses, like depression, and that leaders at all levels will be able to support those in need in actions and not just words.”

Caraveo last year said she had sought treatment for depression at Walter Reed National Military Medical Center in Bethesda, Md., according to The Hill.

Democratic Party leaders were concerned about her mental health, but they also were wary of allegations that she mistreated her campaign and congressional staff, The Colorado Sun reported.

The news outlet in May reported her staff and aides had created a safety plan that included removing sharp objects from her offices amid claims of Caraveo having suicidal thoughts.

Caraveo was the first Hispanic woman to be elected to represent Colorado in Congress and struggled to raise funds for her election bid and had not announced any “major endorsements,” according the The Colorado Sun.

Colorado’s 8th Congressional District is a swing district that encompasses the northern suburbs of Denver and into Greeley.

The seat is among the most-targeted U.S. House districts by the Republican and Democratic parties.

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Judge blocks U.S. bid to remove dozens of Guatemalan, Honduran minors

A federal judge in Arizona temporarily blocked the Trump administration from removing dozens of Guatemalan and Honduran children living in shelters or foster care after coming to the U.S. alone, according to a decision Thursday.

U.S. District Judge Rosemary Márquez in Tucson extended until at least Sept. 26 a temporary restraining issued over the Labor Day weekend. Márquez raised concern over whether the government had arranged for any of the children’s parents or legal guardians in Guatemala to take custody of them.

Laura Belous, attorney for the Florence Immigrant & Refugee Rights Project, which represents the children, said in court that the minors had expressed no desire to be repatriated to their native Guatemala and Honduras amid concerns they could face neglect, possible child trafficking or hardships associated with individual medical conditions.

Lawyers for the children said that their clients have said they fear going home, and that the government is not following laws designed to protect migrant children.

A legal aid group filed a lawsuit in Arizona on behalf of 57 Guatemalan children and 12 from Honduras between the ages of 3 and 17.

Denise Ann Faulk, an assistant U.S. attorney under the Trump administration, emphasized that the child repatriations were negotiated at high diplomatic levels and would avoid lengthy prohibitions on returning to the U.S.

Nearly all the children were in the custody of the U.S. Health and Human Services Department’s Office of Refugee Resettlement and living at shelters in the Phoenix and Tucson areas. Similar lawsuits filed in Illinois and Washington seek to stop the government from removing the children.

The Arizona lawsuit demands that the government grant the children their right to present their cases to an immigration judge, to have access to legal counsel and to be placed in the least restrictive setting that is in their best interest.

The Trump administration has argued it is acting in the best interest of the children by trying to reunite them with their families at the behest of the Guatemalan government. After Guatemalan officials toured U.S. detention facilities, the government said that it was “very concerned” and that it would take children who wanted to return voluntarily.

Children began crossing the border alone in large numbers in 2014, peaking at 152,060 in the 2022 fiscal year. July’s arrest tally translates to an annual clip of 5,712 arrests, reflecting how illegal crossings have dropped to their lowest levels in six decades.

Guatemalans accounted for 32% of residents at government-run holding facilities last year, followed by Hondurans, Mexicans and Salvadorans. A 2008 law requires children to appear before an immigration judge with an opportunity to pursue asylum, unless they are from Canada and Mexico. The vast majority are released from shelters to parents, legal guardians or immediate family while their cases wind through court.

The Arizona lawsuit was amended to include 12 children from Honduras who have expressed to an Arizona legal aid group that they do not want to return to Honduras, as well as four additional children from Guatemala who have come into government custody in Arizona since the lawsuit was initially filed Aug. 30.

Judge Márquez said she found it “frightening” that U.S. officials may not have coordinated with the children’s parents. She also expressed concern that the government was denying the children access to review by an experienced immigration judge, and noted that legal representatives for the children were notified of preparations for child departures with little notice, late at night.

“On a practical matter, it just seems that a lot of these things that [the Office of Refugee Resettlement] has taken upon themselves to do — such as screening and making judicial determinations that should be made by an immigration judge with expertise and time to meet with a lawyer and meet with a child — is just surpassed by saying ‘we’re reuniting them’” with parents, Márquez said in court as she pressed Faulk for more information.

Billeaud and Lee write for the Associated Press.

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Military shuts down streets in bid to quell Nepal unrest | Protests News

Nepali army orders people in Kathmandu to stay home amid mass unrest gripping capital.

Armed soldiers have been patrolling the streets of Kathmandu, ordering people to remain in their homes, following a wave of deadly protests in Nepal’s capital.

The Nepali army checked vehicles and people on Wednesday amid an indefinite curfew, imposed in a bid to “normalise” the capital after mass unrest saw demonstrators set fire to several government buildings and force Prime Minister KP Sharma Oli to resign.

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The protests, triggered by a social media ban, have escalated since Monday, when security forces killed 19 demonstrators and injured hundreds. Tens of thousands filled Kathmandu’s streets on Monday and Tuesday as the protests expanded to target corruption and unemployment in the country’s most violent tumult in decades.

“We are trying to normalise the situation first,” army spokesman Raja Ram Basnet told the Reuters news agency. “We are committed to protect the life and property of people.”

The army’s emergence from the barracks after Oli’s resignation seemed to do little to ease the uproar across the capital.

Late into Tuesday evening, demonstrators blocked roads and stormed the parliament, presidential house and central secretariat, while videos showed protesters beating Nepali Congress party leader Sher Bahadur Deuba and his wife, Arzu Rana Deuba, the foreign minister.

Prompted initially by a now-rescinded government plan to block most popular social media platforms, protesters were galvanised by the deaths on Monday and widespread frustrations with alleged corruption and joblessness.

Pabit Tandukar, 22, was among those shot by live ammunition. “We were there for a peaceful protest. They were initially firing tear gas at us, and we were pushing back. Suddenly, I was shot,” Tandukar told Al Jazeera.

Protesters torch Nepal parliament as PM resigns amid turmoil
Demonstrators react as smoke rises from the parliament complex in Kathmandu [Adnan Abidi/Reuters]

While so-called “nepo kids” — the children of top politicians and government officials — show off lives of luxury on platforms like TikTok and Instagram, most common people have been struggling with an unemployment rate of nearly 11 percent, according to the World Bank. Millions have migrated abroad to Malaysia, the Middle East and South Korea to find jobs.

Home Minister Ramesh Lekhak was the first to resign on Monday, followed by Agriculture Minister Ramnath Adhikari and then Oli on Tuesday. President Ram Chandra Poudel, the ceremonial head of state, moved to appoint Oli to lead a caretaker government — though his location was unclear — and appealed to protesters to “focus on resolving the crisis without further bloodshed or destruction”.

Meanwhile, army helicopters ferried ministers to safe locations.

The protests have led to concern across South Asia over regional stability, with governments having been unseated in recent youth-led uprisings in Bangladesh and Sri Lanka.

Neighbouring China weighed in on the unrest on Wednesday. A Ministry of Foreign Affairs spokesman told journalists that Chinese citizens in Nepal should “pay close attention to safety” and that Beijing hopes Kathmandu “can properly handle domestic issues and quickly restore social order and national stability”.

China has sought to increase its influence in Nepal in recent years with diplomatic efforts and the Belt and Road Initiative.



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High street sandwich chain to launch meal deals in bid to rival supermarkets as Tesco and Sainsbury’s hike prices

PRET A Manger is set to launch meal deals in a bid to take on major supermarkets, which have been offering them for years.

The high street sandwich chain’s move comes after Tesco and Sainsbury’s hiked their prices on lunchtime meal deals.

Pret A Manger shop in Hong Kong.

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Pret will trial meal deals in October, November and DecemberCredit: Alamy

Pret plans to trial the meal deal format in the final three months of the year.

Boss Pano Christou said the chain’s focus is on “offering great value for money” as part of its medium-term strategy to grow and return to sustainable profits.

Details on pricing and locations for the trial have yet to be revealed.

While major supermarkets have long offered meal deals – typically including a sandwich, snack and drink – Tesco recently hiked its price by 25p, blaming ongoing food inflation.

Pret’s latest accounts showed a pre-tax loss of £525.2 million for the year to January 2 – largely due to a £552.9 million write-down after a reassessment by owner JAB, which bought the chain in 2018.

This followed a £61.7 million loss the year before.

Despite the losses, Pret said its earnings before adjustments rose 36 per cent to £98 million for the year.

Meanwhile, total revenue dipped 4.2 per cent to £868.4 million compared to the previous year.

Like-for-like sales grew by 2.8 per cent, helped by an 11 per cent expansion to 717 shops as the business continued to grow internationally.

Pret said it is keen to expand further in the US, especially around city centres and travel hubs.

I went to the UK’s best sandwich shop that’s gone viral on TikTok due to amazing family history and huge portions

Christou, Pret’s CEO, said: “2024 was another year of growth for Pret, where we took disciplined decisions to protect sales, despite intense strains on the hospitality industry.

“Going forward our priority will be to drive transactions and sustainable growth by offering great value for money for Pret customers.

“Our focus will be on growing Pret’s market share in the UK and internationally, prioritising city centres and travel hubs, backed by the experience and expertise of additional world-class board members and a strengthened management team.”

Pret opened its first shop in London in 1986 and now employs 12,500 staff across over 700 locations in 21 countries.

Christou, who has been the chain’s CEO since 2019, started out as an assistant manager at a central London branch aged 22.

The minicab driver’s son, now 45, grew up in Tooting, South London – and earns over £400,000 a year.

The Luxembourg-based firm JAB Holding – which also owns Krispy Kreme doughnuts and Keurig Dr Pepper – bought Pret for £1.5 billion in 2018.

But the pandemic hit hard, with the chain posting a £343 million loss in 2020 as its key customers – office workers and commuters – stayed home.

To win them back, Pret launched cut-priced food and coffee subscription services, which helped sales jump 20 per cent in 2023.

Shopping cart full of groceries in a supermarket.

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Pret plans to rival supermarkets long known for their meal dealsCredit: Getty

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Panicked Starmer ‘tried to strip Ed Miliband of Net Zero brief’ in frantic bid to counter Reform threat during reshuffle

SIR Keir Starmer tried and failed to boot Ed Miliband from his Net Zero brief, it was claimed today.

The PM is understood to have asked the Energy Secretary to swap jobs and take over disgraced Angela Rayner’s housing department during Friday’s cabinet reshuffle.

Ed Miliband, Secretary of State for Energy Security and Net Zero, smiling.

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Ed Miliband was supposed to be moved to Housing Secretary in Friday’s cabinet reshuffleCredit: Getty

But the former Labour leader dug in, insisting he wanted to keep control over the green agenda.

Sir Keir has vowed to put growth centre stage as he battles to steady Labour amid grim polling.

His reshaped top team points to a shift rightwards, as he braces for a looming challenge from Nigel Farage and Reform.

Mr Farage and his Deputy Richard Tice have made scrapping Net Zero a central pledge of the party.

Reform has vowed to repurpose billions in green funding to tackling illegal migration and restoring law and order.

No10 this morning insisted the PM is “delighted” Mr Miliband will stay on at the Department of Energy and Net Zero, but did not deny Sir Keir initially tried to move him.

The PM’s spokesman said: “The PM has set out his new Cabinet and ministerial team — a team that is going to be focused on delivery, with growth as a relentless focus.

“The Energy Secretary has been central to that growth agenda. Investing in clean energy goes hand in hand with cutting peoples’ bills and boosting growth across the country.

“You can see that with the investments being made into CCUS all across the country, into solar, into wind farms.

“The PM is delighted he’ll continue to do that.”

Labour sources admit the Net Zero push has been stalling activity, while firms quietly hope workers’ rights reforms could be softened or delayed.

New Work and Pensions Secretary Pat McFadden is preparing a fresh assault on the ballooning benefits bill, after Labour MPs scuppered the last attempt.

But Mr Miliband is seen as the head cheerleader for the “soft left” in Sir Keir’s cabinet.

His popularity with party members gives him the power make demands of the PM to ensure he cannot make trouble from the sidelines.

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Denmark 0-0 Scotland: Steve Clarke says side must maintain ‘good start’ to World Cup bid

Allan: I am once again proved wrong. Asking why Ryan Christie is playing, then he puts in a man of the match performance. Scotland battled hard and deserved a point after a shaky start where they continually failed to keep the ball. Eventually, Scotland grew into the game and could have sneaked it. The last 15 minutes it was all hands to the pump in defence and holding out for the point.

G A Simpson: Same old conservative approach from Clarke. Dykes and Adams up front might seem adventurous, but there is no pace there. Dykes and Doak would have exposed the Danes to more risk and may have created more clear cut chances, given the fact that they seemed jittery at the back. Nevertheless a good defensive performance. A decent point taken.

Keith: Good point to start us off. Yes we didn’t play exciting attacking football but we played to our strengths against a top ranked team. Big difference with Hickey and Dykes in the team. Everyone played their part, just need three points against Belarus to make it an acceptable double header.

Martin: Seems to be with some folks that Clarke can’t do right, I for one was expecting a thrashing tonight but proved wrong, decent performance, good result.

Stuart: Same old stagnant line-up with a plethora of exciting and in form players on the bench that did not get a sniff, personally I am left frustrated with a point because I think with a fresh perspective we could have won that tonight. Although, credit is due to the back line tonight, they were solid.

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Gold Reserve Files Notice of Objection to Amber Energy Bid and Provides Update on Other Recent Filings in CITGO Sale Process

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PEMBROKE, Bermuda — Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) provides an update on three recent filings in the CITGO Sale Process being run by the U.S. District Court for the District of Delaware (the “Court”):

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1. On September 2, 2025, the Company filed a Notice of Competing Objection and Disclosure of Bid Materials in which it confirmed that it is a Competing Objector, and therefore that it will present its Improved Bid to the Court and request that it be approved instead of the $2 billion lower-priced Amber Energy bid. In conjunction therewith, the Company filed bid materials that had not already been filed on the public docket. A copy of the filing will be posted here.

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2. On September 2, 2025, the Company filed a letter with the Court in which it joined the Venezuela Parties’ request that the Court direct the Special Master to serve fully unredacted versions of the transcripts of the Special Master’s August 11 and 13 ex parte conferences with the Court on parties that have signed a confidentiality agreement with the Special Master. A copy of the letter will be posted here.

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3. On August 30, 2025, the Company filed a letter with the Court requesting, in connection with the Special Master’s Updated Final Recommendation, that the Court stay its decision on the Special Master’s request to terminate the Dalinar Energy bid until the Court rules on Gold Reserve’s pending Motion to Strike the Amber Energy bid or, in the alternative, that the Court set a briefing schedule for the Special Master’s request that tracks the existing schedule for objections to the Updated Final Recommendation. A copy of the filing will be posted here.

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A complete description of the Delaware sale proceedings can be found on the Public Access to Court Electronic Records system in Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its related proceedings.

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Cautionary Statement Regarding Forward-Looking statements

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This release contains “forward-looking statements” within the meaning of applicable U.S. federal securities laws and “forward-looking information” within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve’s and its management’s intentions, hopes, beliefs, expectations or predictions for the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. They are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements contained in this press release include, but are not limited to, statements relating to any bid submitted by the Company for the purchase of the PDVH shares (the “Bid”).

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We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual events, outcomes or results of Gold Reserve to be materially different from our estimated outcomes, results, performance, or achievements expressed or implied by those forward-looking statements, including but not limited to: the discretion of the Special Master to consider the Bid, to enter into any discussions or negotiation with respect thereto; the Special Master may not recommend the Bid in the Final Recommendation; an objection to the Bid may be upheld by the Court; the Bid will not be approved by the Court as the “Final Recommend Bid” under the Bidding Procedures, and if approved by the Court may not close, including as a result of not obtaining necessary regulatory approvals, including but not limited to any necessary approvals from the U.S. Office of Foreign Asset Control (“OFAC”), the U.S. Committee on Foreign Investment in the United States, the U.S. Federal Trade Commission or the TSX Venture Exchange; failure of the Company or any other party to obtain sufficient equity and/or debt financing or any required shareholders approvals for, or satisfy other conditions to effect, any transaction resulting from the Bid; that the Company may forfeit any cash amount deposit made due to failing to complete the Bid or otherwise; that the making of the Bid or any transaction resulting therefrom may involve unexpected costs, liabilities or delays; that, prior to or as a result of the completion of any transaction contemplated by the Bid, the business of the Company may experience significant disruptions due to transaction related uncertainty, industry conditions, tariff wars or other factors; the ability to enforce the writ of attachment granted to the Company; the timing set for various reports and/or other matters with respect to the Sale Process may not be met; the ability of the Company to otherwise participate in the Sale Process (and related costs associated therewith

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; the amount, if any, of proceeds associated with the Sale Process; the competing claims of other creditors of Venezuela, PDVSA and the Company, including any interest on such creditors’ judgements and any priority afforded thereto; uncertainties with respect to possible settlements between Venezuela and other creditors and the impact of any such settlements on the amount of funds that may be available under the Sale Process; and the proceeds from the Sale Process may not be sufficient to satisfy the amounts outstanding under the Company’s September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement in full; and the ramifications of bankruptcy with respect to the Sale Process and/or the Company’s claims, including as a result of the priority of other claims. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. For a more detailed discussion of the risk factors affecting the Company’s business, see the Company’s Management’s Discussion & Analysis for the year ended December 31, 2024 and other reports that have been filed on SEDAR+ and are available under the Company’s profile at www.sedarplus.ca.

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Putin Backs Ukraine’s Bid to Join EU — But Still Bars NATO Path

NEWS BRIEF:  Russian President Vladimir Putin stated he does not oppose Ukraine joining the European Union but reiterated strong opposition to NATO membership. He expressed openness to cooperation with the U.S. on nuclear safety and suggested potential consensus on security guarantees for Ukraine. WHAT HAPPENED: WHY IT MATTERS: IMPLICATIONS: This briefing is based on information […]

The post Putin Backs Ukraine’s Bid to Join EU — But Still Bars NATO Path appeared first on Modern Diplomacy.

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Chelsea line up last-minute bid for Viktor Gyokores’ Sporting understudy Conrad Harder amid Nicolas Jackson’s Bayern row

CHELSEA are interested in signing Sporting Lisbon striker Conrad Harder, according to reports.

The Blues could re-enter the transfer market for a forward following the injury suffered by Liam Delap against Fulham on Saturday.

Conrad Harder of Sporting CP applauding during a football match.

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Conrad Harder is attracting interest from ChelseaCredit: Shutterstock Editorial

Enzo Maresca’s side were on the brink of loaning Nicolas Jackson to Bayern Munich, having deemed the 24-year-old to be surplus to requirements.

Jackson was allowed to travel to Germany for a medical yesterday, only for Chelsea to pull the plug on the deal upon Delap’s injury.

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$2 Billion Lower Amber Energy Bid Recommended by Special Master in CITGO Sale Process

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PEMBROKE, Bermuda — Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that its Delaware subsidiary, Dalinar Energy Corporation (“Dalinar Energy”), was not selected by the Special Master as the recommended bidder for the purchase of the shares of PDV Holding, Inc. (“PDVH”), the indirect parent company of CITGO Petroleum Corp., in the sales process being conducted by the U.S. District Court for the District of Delaware (the “Court”). Amber Energy Inc. was named in the Updated Final Recommendation.

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The net purchase price of Amber Energy’s bid is approximately $5.9 billion, which is approximately $2 billion less than Dalinar Energy’s revised $7.9 billion price.

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The Company believes it has strong grounds to object to the Updated Final Recommendation, and it intends to do so vigorously. Objections are required to be filed with the Court on September 6, 2025, and will be considered by the Court at the Sale Hearing scheduled to commence September 15, 2025.

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On August 28, 2025, Dalinar Energy submitted an improved bid to the Special Master. The terms of the improved bid are described in the Updated Final Recommendation. In summary, the total economic value of Dalinar Energy’s improved bid exceeded $11.2 billion, comprised of:

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  • a net purchase price of $7.9 billion, representing a $520 million increase of the price of its prior Successful Bid;

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  • an additional potential $400 million increase in purchase price through the offer of $20 million in cash and securities to junior creditors;

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  • increased financing support to provide flexibility to address and resolve the approximately $2.9 billion potential liability of the 2020 bondholders’ claims as needed, and a restatement that Dalinar Energy is assuming the risk associated with the 2020 bondholders’ claims in its proposal to purchase the PDVH Shares.

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Gold Reserve also made a series of substantial non-economic improvements to the bid to resolve objections and thereby improve its certainty of closing.

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The Dalinar Energy bid remains fully-financed and supported by a lending consortium that includes three leading financial institutions. It provides for committed debt financing, additional asset-based lending available post-closing, and equity financing.

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Further information regarding the Amber Energy bid and Dalinar Energy’s improved bid, and a copy of all bid documents, can be found in the Updated Final Recommendation, a copy of which can be found here.

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A complete description of the Delaware sale proceedings can be found on the Public Access to Court Electronic Records system in Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its related proceedings.

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Cautionary Statement Regarding Forward-Looking statements

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This release contains “forward-looking statements” within the meaning of applicable U.S. federal securities laws and “forward-looking information” within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve’s and its management’s intentions, hopes, beliefs, expectations or predictions for the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. They are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements contained in this press release include, but are not limited to, statements relating to any bid submitted by the Company for the purchase of the PDVH shares (the “Bid”).

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We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual events, outcomes or results of Gold Reserve to be materially different from our estimated outcomes, results, performance, or achievements expressed or implied by those forward-looking statements, including but not limited to: the discretion of the Special Master to consider the Bid, to enter into any discussions or negotiation with respect thereto; the Special Master may not recommend the Bid in the Final Recommendation; an objection to the Bid may be upheld by the Court; the Bid will not be approved by the Court as the “Final Recommend Bid” under the Bidding Procedures, and if approved by the Court may not close, including as a result of not obtaining necessary regulatory approvals, including but not limited to any necessary approvals from the U.S. Office of Foreign Asset Control (“OFAC”), the U.S. Committee on Foreign Investment in the United States, the U.S. Federal Trade Commission or the TSX Venture Exchange; failure of the Company or any other party to obtain sufficient equity and/or debt financing or any required shareholders approvals for, or satisfy other conditions to effect, any transaction resulting from the Bid; that the Company may forfeit any cash amount deposit made due to failing to complete the Bid or otherwise; that the making of the Bid or any transaction resulting therefrom may involve unexpected costs, liabilities or delays; that, prior to or as a result of the completion of any transaction contemplated by the Bid, the business of the Company may experience significant disruptions due to transaction related uncertainty, industry conditions, tariff wars or other factors; the ability to enforce the writ of attachment granted to the Company; the timing set for various reports and/or other matters with respect to the Sale Process may not be met; the ability of the Company to otherwise participate in the Sale Process (and related costs associated therewith

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; the amount, if any, of proceeds associated with the Sale Process; the competing claims of other creditors of Venezuela, PDVSA and the Company, including any interest on such creditors’ judgements and any priority afforded thereto; uncertainties with respect to possible settlements between Venezuela and other creditors and the impact of any such settlements on the amount of funds that may be available under the Sale Process; and the proceeds from the Sale Process may not be sufficient to satisfy the amounts outstanding under the Company’s September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement in full; and the ramifications of bankruptcy with respect to the Sale Process and/or the Company’s claims, including as a result of the priority of other claims. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. For a more detailed discussion of the risk factors affecting the Company’s business, see the Company’s Management’s Discussion & Analysis for the year ended December 31, 2024 and other reports that have been filed on SEDAR+ and are available under the Company’s profile at www.sedarplus.ca.

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Epping council wins bid to stop Bell Hotel housing asylum seekers

Dominic Casciani

BBC News, Home and Legal Correspondent@BBCDomC
Lewis Adams

BBC News, Essex

PA Media A group of police officers in fluorescent tabards speaking into talkback devices and holding riot helmets - there is a large police van in the background at the entrance to a building with a Bell Hotel sign PA Media

The Bell Hotel has been at the centre of intense protests, and counter-protests over the summer

Asylum seekers are due to be removed from an Essex hotel after a council was granted a temporary High Court injunction blocking them from being housed there.

The injunction was sought by Epping Forest District Council to stop migrants being placed at The Bell Hotel in Epping, which is owned by Somani Hotels Limited.

Thousands of people have protested near the hotel in recent weeks after an asylum seeker living there was charged with sexually assaulting a 14-year-old girl in the town.

Mr Justice Eyre made his judgement after refusing an 11th-hour effort from Home Secretary Yvette Cooper to get the council’s case dismissed.

Asylum seekers must be moved out of the hotel by 16:00 BST on 12 September, the judge ruled.

All 80 rooms at the hotel are seemingly occupied and, as of last month, it was home to about 140 men.

The Home Office had warned the decision would “substantially impact” its ability to house asylum seekers in hotels across the UK.

Footage from 17 July showed projectiles being thrown towards police officers

Protests staged outside The Bell Hotel have been attended by both people against its use for asylum seekers and those in support of migrant rights.

But Conservative council leader Chris Whitbread said the repeated demonstrations were escalating tensions in the area and risked causing “irreparable harm”.

Reacting to the court ruling, he added: “The last few weeks have placed an intolerable strain on our community but today we have some great news.

“We have seen the protests that started off quite violently become peaceful protests, run by the people of Epping Forest.

“What I call upon the residents tonight is if they decide to go outside The Bell Hotel, don’t protest, don’t over-celebrate. This is the beginning. It is not the end.”

A small crowd had gathered outside the hotel on Tuesday evening.

PA Media Chris Whitbread, wearing a blue suit, white shirt, and blue and white spotted tie, outside the the Royal Courts of Justice, talking into microphones, with his leg hand raised. He has short grey hair. Another man is behind him, and an archway is behind him. PA Media

Chris Whitbread said the court victory showed “the government cannot ignore planning rules, just like no-one else can ignore planning rules”

Sixteen people have been charged with offences relating to disturbances during several protests, which Essex Police said became violent on occasion.

Representing the council, Philip Coppel KC agreed some protests “have unfortunately been attended by violence and disorder”.

He said Somani Hotels “did not advise or notify the local planning authority” to seek its views on the use of the site which he argued was not a hotel in the usual sense any more.

He told the court it was “no more a hotel than a borstal [was] to a young offender”.

Lawyers for the hotel and home secretary confirmed in court they wished to appeal against the injunction before a full hearing was listed in the autumn.

It followed a failed last-minute attempt by the Home Office to get the case dismissed.

Edward Brown KC, for the government, said any injunction could lead to other councils making similar applications.

“That would aggravate the pressures on the asylum estate,” he added.

‘Sidestepped scrutiny’

The council’s win comes three years after a string of judgments in similar cases in which judges refused to intevene.

However, Epping Forest told the court last Friday that its case was different because use of the hotel had become a public safety risk, as well as a breach of planning law.

In his judgement Mr Justice Eyre said: “Although the defendant’s [Somani Hotels Limited] actions were not flagrant or surreptitious they were deliberate.

“The defendant acted in good faith but chose to take its stand on the position that there was no material change of use.

“The defendant did so in the knowledge the claimant, as local planning authority, took a different view and believed that permission was necessary.

“It thereby sidestepped the public scrutiny and explanation which would otherwise have taken place if an application for planning permission or for a certificate of lawful use had been made.”

A crowd of protesters holding signs stand on the pavement outside a hotel as cars pass them on the road in front of them.

A small crowd gathered outside The Bell Hotel in the evening following the High Court judgement

Imram Hussain, from the Refugee Council, said: “We think asylum seekers should not be in hotels – there are cheaper, better ways of supporting people and we think the government should end the use of hotels as fast as it can.”

He said such migrants should be in “dispersal accommodation around the country”, as it was more cost-effective and it wanted the government to “work with local authorities to go back to that kind of system and not use hotels”.

The Bell Hotel, a white building, is on the left with an entrance to the right which says The Bell Hotel, Best Western. A tree is in front of the two-storey building with three traffic cones outside.

Epping Forest District Council applied for the injunction on 12 August

Reform UK leader Nigel Farage welcomed the ruling and said: “This community stood up bravely, despite being slandered as far right, and have won.”

His deputy leader, Richard Tice, said his party would look at pursuing similar cases for hotels within the 10 council areas it controls, which included both North and West Northamptonshire councils, Doncaster, and Kent and Staffordshire county councils.

Angela Eagle, Border Security Minister, said: “This government inherited a broken asylum system; at the peak there were over 400 hotels open.

“We will continue working with local authorities and communities to address legitimate concerns. Our work continues to close all asylum hotels by the end of this Parliament.

“We will carefully consider this judgment.”

Protests began outside The Bell after 41-year-old Hadush Kebatu, from Ethiopia, was charged with sexual assault, harassment and inciting a girl to engage in sexual activity.

He denied the offences and remained in custody ahead of a two-day trial, due to begin next Tuesday.

A second man, living at the same hotel, Mohammed Sharwarq, 32, a Syrian national, has been charged with two counts of common assault and four of assault by beating – concerning four complainants.

Following a hearing before magistrates in Chelmsford, he was remanded into custody.

The BBC understands the alleged offences took place within The Bell Hotel.



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AI is helping doctors write up medical notes in bid to get patients out of hospital beds faster

AI is helping doctors write up medical notes to try to get patients out of hospital beds faster.

The tech means they spend less time filling in forms, cutting delays in discharging those fit to go home.

It creates a summary using information such as diagnoses and test results from medical records.

The document can then be reviewed by medical teams and used to send patients home or refer them to other services.

The technology is being piloted at Chelsea and Westminster NHS Trust.

Health Secretary Wes Streeting said: “This potentially transformational discharge tool is a prime example of how we’re shifting from analogue to digital.

“We’re using cutting-edge technology to build an NHS fit for the future and tackle the hospital backlogs that have left too many people waiting too long.

“Doctors will spend less time on paperwork and more time with patients, getting people home to their families faster and freeing up beds for those who need them most.”

As part of their AI revolution, the Government has also announced tech is being given to all 12,000 probation officers.

A programme called Justice Transcribe will help them take notes in meetings with offenders after they leave prison.

It was found to halve the time officers spent organising notes between meetings and in their personal time.

Technology Secretary Peter Kyle said: “This is exactly the kind of change we need, AI being used to give doctors, probation officers and other key workers more time to focus on delivering better outcomes and speeding up vital services.”

AI VR Hospital of the future Tel Aviv feature – Sun on Sunday Exclusive
Doctor explaining prostate examination to a patient using a tablet.

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AI is helping doctors write up medical notes to try to get patients out of hospital beds fasterCredit: Getty

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Jadon Sancho: Roma make bid for Manchester United winger

Roma have made an offer to sign England winger Jadon Sancho from Manchester United, where he remains excluded from training with the first-team squad.

United sources have not revealed the size of the bid from the Serie A club, nor whether it has been accepted.

However, the offer in itself underlines that there is interest in the 25-year-old, who has been told to find a new club before the transfer window closes on 1 September.

Juventus, who unlike Roma have qualified for this season’s Champions League, are also known to be interested in Sancho.

The former Borussia Dortmund wide man returned to United in the summer after Chelsea paid a £5m penalty to get out of an obligation to buy him, having spent last season on loan at Stamford Bridge.

There have also been suggestions that Roma would be interested in a loan, containing clauses that could be triggered at the end of the season.

However, that issue is complicated by the fact that Sancho’s United contract expires next summer. The club does have an option to extend it by an additional year, although given Sancho’s salary, it is debatable whether they would be willing to do that.

United are determined to sell Sancho. However, the closer to September they get without a deal in place, the more likely they are to consider a potential loan move, given it would at least take a significant sum off their wage bill.

Four players – Sancho, Alejandro Garnacho, Antony and Tyrrell Malacia – have been training away from boss Ruben Amorim’s squad since the start of pre-season last month as the club believes they will have left before the window closes.

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UN says bid to help address turmoil in Haiti less than 10 percent funded | Conflict News

Violence remains widespread in Haiti, where powerful armed gangs have surged amid political and economic chaos.

The United Nations has said that efforts to address widespread economic and political dysfunction and debilitating violence in Haiti are falling far short, with a UN response plan receiving the lowest funding of any in the world.

In a briefing on Tuesday, coordinator Ulrika Richardson said that the UN hopes to raise more than $900m for Haiti this year, but that effort is just 9.2 percent funded.

“We have tools, but the response from the international community is just not at par with the gravity on the ground,” Richardson said.

The lacklustre funding numbers underscore concerns over flagging international efforts to assist the Caribbean island nation, which is reeling from violence as powerful armed gangs jostle for control of territory and resources amid political and economic instability.

Richardson said that a $2.63bn appeal for Ukraine is 38 percent funded and that a $4bn appeal for the occupied Palestinian territories is 22 percent funded, by comparison.

More than 1.3 million people have been displaced by the violence in Haiti, and more than 3,100 people have been killed this year.

Armed gangs, some with links to powerful political and economic figures, have taken control of large swathes of the capital of Port-au-Prince since the assassination of former president Jovenel Moise in July 2021.

The UN has said that cutting off the supply of arms pouring into the country, largely smuggled from the US state of Florida, is a key step towards staunching the violence, along with applying sanctions on networks connected to the gangs.

“Haiti can quickly spiral up again, but the violence needs to end,” said Richardson.

But international efforts to address the fighting thus far have little to show, and some Haitians are sceptical of such efforts given a long history of destructive interventions by outside powers.

A UN-backed policing mission, staffed largely by Kenyan security officers, has failed to bring stability to the country or tackle the gangs. Haiti’s government also declared a three-month state of emergency earlier this month, covering the West, Centre and Artibonite departments of the country.

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Perplexity AI makes unsolicited $34.5bn bid to buy Google Chrome | Technology News

This is the second major offer the AI startup has made this year to buy a major asset. In January, it offered to buy TikTok.

Perplexity AI said it has made a $34.5bn unsolicited all-cash offer for Alphabet’s Google Chrome browser.

The deal, if Alphabet agreed to it, would also require financing above the startup’s most recently reported valuation of $18bn.

The nearly three-year-old startup’s purchase of Chrome, if approved, would give the company access to its more than three billion users as regulatory pressure weighs on Google’s control over the tech industry.

Perplexity did not disclose on Tuesday how it plans to fund the offer, but has raised $1bn in funding from investors including SoftBank and the semiconductor chip giant Nvidia.

Several funds have said they would finance the deal in full if Alphabet accepts, the Reuters news agency reported citing unnamed sources familiar with the matter.

Alphabet has not offered to sell Chrome and has planned to appeal a United States court ruling that said Google held an unlawful monopoly over the online search marketplace. The US Department of Justice has said that divestiture of Chrome would help remedy that case. A federal judge is expected to rule on remedies for the case later this month.

Web browsers as vital gateways

As a new generation of users turns to chatbots such as ChatGPT and Perplexity for answers, web browsers are regaining prominence as vital gateways to search traffic and prized user data, making them central to Big Tech’s AI ambitions.

Perplexity already has an AI browser, Comet, that can perform certain tasks on a user’s behalf. Buying Chrome would allow it to tap the browser’s more than three billion users, giving it the heft to better compete with bigger rivals such as OpenAI. The ChatGPT parent is also working on its own AI browser.

Perplexity, run by CEO Aravind Srinivas, has said it will keep the browser’s code open source and make no changes to the default search engine, according to Reuters.

The San Francisco-based startup is far from the only company to express interest in Google Chrome. ChatGPT owner OpenAI has also expressed interest, as has Yahoo and New York-based private equity firm Apollo Global Management.

It is not the first eye-catching bid from the AI startup this year. In January, Perplexity AI offered to buy TikTok after regulators called for the Chinese-owned app to be sold to a US company. The White House has delayed the ban several times. The most recent delay was announced in late June.

Neither Google nor Perplexity immediately responded to Al Jazeera’s request for comment.

On Wall Street, Alphabet’s share price surged up 1.4 percent since the market opened. Potential funder Nvidia is relatively flat, only up about 0.1 percent. However, SoftBank is surging up more than 6.9 percent as of 1pm in New York (17:00 GMT). Perplexity is not a publicly traded company.

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South Korea awaits ruling on bid to arrest former first lady | News

Charges against Kim, punishable by years in prison, range from stock fraud to bribery and illegal influence peddling.

South Korea’s former first lady, Kim Keon-hee, has appeared in court for a five-hour hearing, but the judge has yet to issue a ruling on a prosecution request for a warrant to arrest her on accusations of interfering with an investigation.

If detained, she would be South Korea’s only former first lady to be arrested, joining her husband, former President Yoon Suk-yeol, in jail as he faces trial, following his removal in April, over a botched bid to impose martial law in December.

Kim, wearing a black suit, bowed as she arrived on Tuesday, but did not answer reporters’ questions or make a statement.

After the hearing ended, she left to await the ruling at a detention centre in Seoul, the capital, in line with customary practice.

The charges against her, punishable by years in prison, range from stock fraud to bribery and illegal influence peddling that have implicated business owners, religious figures and a political power broker.

She has been accused of breaking the law over an incident in which she wore a luxury Van Cleef pendant reportedly worth more than 60 million won ($43,000) while attending a NATO summit with her husband in 2022.

The item was not listed in the couple’s financial disclosure as required by law, according to the charge.

Kim is also accused of receiving two Chanel bags together valued at 20 million won ($14,500) and a diamond necklace from a religious group as a bribe in return for influence favourable to its business interests.

Kim denies accusations

The prosecution sought Kim’s arrest because of the risk of her destroying evidence and interfering with the investigation, a spokesperson for the special prosecutor’s team told a news briefing after Tuesday’s hearing.

The spokesperson, Oh Jeong-hee, said Kim had told prosecutors the pendant she wore was a fake bought 20 years ago in Hong Kong.

The prosecution said it was genuine, however, and given by a domestic construction company for Kim to wear at the summit, Oh said.

Kim’s lawyers did not immediately comment on Tuesday, but they have previously denied the accusations against her and dismissed as groundless speculation news reports about some of the gifts she allegedly received.

The court is expected to announce its decision late on Tuesday or overnight, media said, based on the timing of the decision to arrest Yoon.

Yoon is on trial on charges of insurrection, which could result in life imprisonment or even the death penalty.

The former president, who also faces charges of abuse of power among others, has denied wrongdoing and refused to attend trial hearings or be questioned by prosecutors.

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Mega crypto exchange Binance partners with Spain’s BBVA in a bid to restore investor confidence

Published on
08/08/2025 – 14:08 GMT+2


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Binance is partnering with Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) to allow crypto customers to store their funds with the bank instead of keeping them directly on the crypto exchange, according to reporting by the Financial Times.

The move is aimed at rebuilding trust with investors after Binance was hit with a record fine from US regulators nearly two years ago.

Binance is the world’s largest cryptocurrency exchange by trading volume, and it handles billions of dollars in trades each day across hundreds of cryptocurrencies.

What does this mean for crypto?

BBVA, as a bank, will act as an “independent custodian” or a separate and trusted third party and ensure a greater level of safety when it comes to customers’ funds or assets that are traded through Binance.

As the second largest bank in Spain and praised for its innovation and sustainability, BBVA will act as a security guarantee, giving traders a reduced risk while encouraging them to invest in the high-returns crypto exchange.

By storing them with BBVA, if Binance runs into trouble, like being hacked, declaring bankruptcy or facing regulatory action, the funds would still be safe with BBVA.

Banks are much more closely regulated than crypto exchanges, so BBVA’s obligation to follow compliance rules should lead to more interest in crypto overall.

Essentially, the move is akin to putting your valuables in a safe or a secure bank, instead of being displayed in a storefront as they’re being bought and sold.

Binance trying to clean up its reputation

Binance, the world’s largest crypto exchange, got slammed in 2023 with a record $4.3 billion (€3.69bn) fine after US regulators accused it of not keeping checks on its trading floor.

US officials said Binance allowed shady funds to flow through its exchange and allegedly permitted laundered money to be used, helping its big clients dodge the rules.

Founder Changpeng ‘CZ’ Zhao stepped down and served four months in prison for failing to stop money laundering.

Now, with regulators watching its every move, Binance is trying to clean up its act and by partnering with Spain’s BBVA, hopes to prove it can play by the rules.

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