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Landowners in Texas ask court to stop Trump border wall | Donald Trump News

Indigenous groups, environmentalists, and locals in several states have opposed the border wall construction.

A group of landowners, ranchers, businesses and a non-profit organisation have sued the administration of United States President Donald Trump to stop construction of a wall along the country’s border with Mexico in the remote Big Bend region of the southern state of Texas.

Trump officials “were woefully unprepared for the hornet’s nest they stirred up because they had no idea how much we love this place”, David Keller, an archaeologist and historian who specialises in the Big Bend and lives in the region, said in a news conference announcing the lawsuit on Monday.

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“For us, the Big Bend is not an empty place on the map,” he said. “It is our home.”

The lawsuit was filed by Conserve Big Bend and six landowners, with the support of dozens more people along the border.

It comes as the Trump administration is ramping up a $46bn effort to line the roughly 3,219km (2,000-mile) border with a collection of 9-metre (30-foot) steel bollard walls, vehicle barriers and technology intended to keep out smugglers and migrants.

In Arizona, federal officials are pushing ahead with construction of the border infrastructure, even though it cuts through land belonging to the Tohono O’odham Nation, an Indigenous tribe that has said it does not want the barrier and that it is unnecessary.

In Texas, the effort has run up against numerous lawsuits and bipartisan opposition from sheriffs, elected officials, tour guides, environmental groups and landowners.

As part of its wall-building efforts, the administration has waived numerous regulations and statutes designed to protect the environment, archaeology or wildlife, on the basis that there is an urgent need to protect the border in what the US Department of Homeland Security has called areas of “high illegal entry”.

But in the lawsuit announced on Monday, the plaintiffs argue that when it comes to the Big Bend region, that is not an accurate description. They cite historical statistics from US Customs and Border Protection showing how few people cross the border in Big Bend compared with other areas along the US-Mexico border.

Big Bend has about 805km (500 miles) of border, roughly one quarter of the total length of the border with Mexico from the Pacific Ocean to the Gulf of Mexico. But the region accounted for only about 1 percent of arrests, according to the lawsuit.

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Revolut Fast Tracks to Wall Street With Conditional US Charter

Revolut gets an OCC thumbs up to launch a US bank, but lending ambitions are another issue.

Technically, financial technology company Revolut is already a bank across several regions—it holds licenses in the U.K., France, Mexico and Australia.

Now, in the U.S. market, it is one step closer to bankhood.

The London-based startup announced Thursday that it has received conditional approval from the U.S. Office of the Comptroller of the Currency for a national bank charter. The move would help the company grow its customer base from 80 million to 100 million by mid-2027.

It also exemplifies Revolut’s agility as a fintech compared to traditional banks, which typically take years to pull off similar expansion efforts.

“Legacy banks are working with legacy systems,” David Tirado, Revolut’s VP of Profitability and Global Business, told Global Finance in an interview last year. “Revolut, on the other hand, built our proprietary technology from the ground up with a global mindset. While competitors struggle to scale across different markets and regulatory landscapes, our systems were designed for this from day one.”

What Else Does Revolut Need?

Revolut still needs a green light from the Federal Deposit Insurance Corp. and the Federal Reserve, as well as final sign-off from the OCC, before it can open the proposed bank.

Once fully approved, Revolut said it would offer U.S. customers loans, credit cards, FDIC-insured deposits, and access to stablecoins and cryptocurrencies.

In a prepared statement, Revolut founder and CEO Nik Storonsky said the conditional approval was “an important first step towards establishing the proposed Revolut Bank US,” adding that it gives the company “the foundation to build in the world’s largest financial market.”

The U.S. bid follows Revolut’s expansion across Latin America, where the company recently launched a bank in Mexico and is pursuing licenses in Brazil, Colombia, Peru and Argentina. This year, Revolut has also obtained banking licenses in France, Australia and the U.K., a payments license in the United Arab Emirates, and is seeking a banking license in South Africa.

The company claims to add roughly 1 million customers every 17 days.

What About Lending?

Whether Revolut can become a customer’s primary financial institution without being a major loan underwriter remains to be seen. Revolut’s consumer lending segment remains small relative to its tens of billions in customer deposits. Still, it’s worth noting that the so-called neobank’s loan book, as of March, is up 120% year over year at $2.9 billion.

Felipe Peñacoba Martinez, CEO of Getnet Platforms Payments Hub and former CIO at Revolut Bank (EU), told Global Finance in June: “Revolut is aware this takes time, and they’re going slower than in other areas.”

Ultimately, the central question facing the industry is whether fintechs like Revolut can scale core banking products faster than traditional incumbents can modernize their digital ecosystems.

Anthony Noto covers corporate finance and private credit. Contact him at anoto@gfmag.com

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Trump administration starts building border wall project in Arizona over tribe’s objections

The Trump administration has begun work on a project to build a stretch of border wall in southern Arizona along part of a Native American tribe’s reservation, pushing ahead with one of its signature projects despite protests from the tribe.

U.S. Customs and Border Protection says the area is a dangerous smuggling route and that building the wall will close a longstanding security gap. But members of the Tohono O’odham Nation, whose membership spans both sides of the U.S.-Mexico border, have accused the administration of trespassing and say the construction will damage land sacred to the tribe.

The wall segment is part of a $46 billion effort by the Trump administration to fill the border with 30-foot steel bollard walls, vehicle barriers, and technology designed to stop undocumented immigration and smuggling.

But as building efforts have ramped up, the administration has run into opposition from landowners, environmental groups, and Native American tribes who say construction is violating property rights and desecrating sacred Indigenous sites.

The Tohono O’odham Nation said in a statement Tuesday that about 20 Customs and Border Protection officers, working with contractors, went onto the tribe’s land early that morning to begin construction.

Drone videos published by nation officials show roughly 14 vehicles and an industrial drill at one of the sites.

A federal judge permitted the government to move forward with construction earlier this month, but the tribe says the contractors are violating tribal codes and trespassing to access the border wall site.

The Tohono O’odham Nation, which has 37,000 members including thousands who live in Mexico, sued the federal government in June in an attempt to block construction of the border wall. The tribe argued that the wall would cause “significant devastation” on the reservation, including the destruction of mountain peaks sacred to the tribe, and would alter boundaries of their nation.

U.S. District Judge Richard Leon in Washington, an appointee of former President George W. Bush, ruled in favor of the government, noting that the border wall would be built on a 60-foot wide buffer zone of federally owned land called the Roosevelt Reservation.

“Defendants have not yet articulated plans to construct outside the Roosevelt Reservation,” the judge wrote in his opinion.

The Tohono O’odham Nation said that even if construction were contained to the Roosevelt Reservation, driving onto tribal land to access the area still constitutes trespassing.

“The contractors, who are on the Nation illegally, were accompanied by agents as they worked on three separate locations near the border with drill trucks to conduct soil sampling and other activities,” tribal officials said in a statement.

The CBP agents were masked, armed, and set up a vehicle blockade to stop tribal police from removing the contractors, according to Tohono O’odham officials. The nation had set up “No Trespassing” signs before Tuesday.

So far, no physical confrontations between police or members of the Tohono O’odham Nation have been reported.

CBP defended the need for the wall in a statement Tuesday, saying the desert spanning the Tohono O’odham Nation is a corridor for drug smuggling.

“The project will close one of the most dangerous smuggling and trafficking corridors on the Southwest border: remote desert that has facilitated decades of drug loads, migrant deaths, and cartel activity,” said CBP Commissioner Rodney Scott.

Tribal officials said they’re exploring further legal actions in an effort to remove contractors.

SLSCO Ltd., the Texas-based construction company building the section in Arizona, has secured over $390 million in funding from the Department of Homeland Security to build the border wall since 2023.

Schuettler writes for the Associated Press.

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The Berlin Wall separated his family. Its legacy still endures | Border Disputes

Germany splits

At least two generations on both Guetinger’s maternal and paternal sides were from Babenhausen, a small Bavarian market town of about 4,000 people in the 1960s. Surrounded by a castle, it was once home to a merchant family said to have been prominent during the Middle Ages.

Guetinger’s father, Ernst, was among five siblings and the youngest of the three boys. Hans was the eldest, followed by another brother, Erich, and there was a four-year age gap between Ernst and Hans. Guetinger said this age difference played a role in his father’s and uncle’s relationship.

“My dad and uncle Hans didn’t have a very close relationship because they had grown up during wartime,” he said. “When war broke out in 1939, Uncle Hans was obliged to serve as a soldier.”

Soldiers were in short supply, so German boys aged 16 and 17 were drafted as “Flakhelfer” to work with anti-aircraft guns or man the huge lights that tracked enemy aircraft.

“My Uncle Erich was in this age range so served in this role, but my dad, being the youngest, did not have to serve,” he added.

After Nazi Germany’s defeat in 1945, the country was divided into occupation zones and then formally split into two separate countries in 1949.

Hans returned to Babenhausen, Bavaria, after the war and looked for work as a shoemaker. But jobs were scarce, and he had trouble finding work.

Amid their struggles, Hans’s homesick wife encouraged him to try finding work in the GDR, where she was from. They knew they would be welcomed, because the GDR was keen on people willing to buck the trend of those going west – roughly 2.7 million people moved to West Germany between 1949 and 1961 – for better economic and employment opportunities.

In 1958, Hans’s family moved east to Brieskow-Finkenheerd, a village near the Polish border, where Hans started working at a power station that also provided their accommodation. He was also able to indulge in his love of hunting as much as he liked.

“He was very happy hunting,” Guetinger remembered fondly. “In West Germany, you could only hunt if you owned land, but since the government owned all the land in the GDR, my uncle was told he could hunt wherever he wanted.”

Hans became so well known for his hunting abilities that when the big cadres wanted to celebrate something and eat some tasty meat like boar or wild swine, they would ask Hans to go hunting.

“The party had its own hunters, but they considered my uncle one of the best,” Guetinger said.

Meanwhile, Hans’s younger brother Ernst, back in Bavaria, became a father to Erich Guetinger in 1951.

In the 1950s, freedom of movement between the two countries remained largely unrestricted, but from the 1960s onwards, tougher measures were instituted. After that, East Germans were generally only allowed to travel to the West for urgent family matters, such as funerals or weddings.

In August 1961 – 65 years ago – the East German government began building the Berlin Wall, a 155km (96 miles) concrete structure surrounding West Berlin that effectively isolated it within GDR territory and severed the capital.

Outside Berlin, efforts to fortify the division led to the installation of new barbed wire fences, detectors, watchtowers, as well as booby-traps and extended powers for border guards to shoot and arrest escapees. Between then and 1989, when the wall came down, an estimated 75,000 people were imprisoned for trying to escape.

Guetinger says that in the early years of the division, there was barely any contact with his uncle and family.

“Eventually, we were able to start sending letters, but we shared very little in these because everybody knew the East German secret police, known as the Stasi, would carefully check the post between families, often reading our letters,” he said.

Like many families in West Germany, the Guetingers would often send Western products to their relatives in the East.

“For Christmas, we made parcels containing things we knew they would like, and which we knew it would be difficult for them to get, such as coffee and blue jeans,” Guetinger said.

“Blue jeans were particularly hot property, and my cousins liked this kind of clothing. And even though we would send parcels, there was always a chance that they wouldn’t reach them,” he explained, noting that shipments were closely monitored.

Guetinger says it is still hard to fully assess how the day-to-day disruption caused by the division impacted their family’s sense of safety and unity.

“Even if my parents had a heavy heart back then, they would rarely talk about it, so today, I have to rely on other indicators to try and understand. And one of the indicators is that my dad and his elder brother tried to visit each other as soon as it was possible for both of them.”

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Trump pauses border construction in Texas’ Big Bend National Park

The Trump administration says it is temporarily pausing construction of a controversial border construction project in the Big Bend National Park while the head of the agency tasked with building the wall visits Texas to do an “on-the-ground evaluation.”

The project through the national park in southern Texas has faced fierce bipartisan opposition by critics who say that it is marring a pristine environmental area and that the region’s rugged and remote terrain already serves as a deterrent to migrants and smugglers.

Rodney Scott, who heads Customs and Border Protection, which is tasked with building the wall, announced on X that he was visiting Texas to do an evaluation.

“CBP is pausing all construction activity in Big Bend National Park while I visit and conduct a personal, on-the-ground evaluation,” Scott said.

Congress gave the Trump administration $46 billion last summer to build a wall from the Pacific Ocean to the Gulf of Mexico, and the administration has been racing ahead and waiving numerous regulations in an effort to swiftly build the wall.

Scott has said that he expects that they will build the first layer of the wall by the end of next year.

But they have run into fierce opposition in Texas especially when it comes to construction in and near Big Bend National Park and a state park to the west.

Santana writes for the Associated Press.

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What Nvidia’s $500 billion Wall Street deal signals about the AI boom

Nvidia has recruited Wall Street to bankroll its own customers.


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The US chipmaker said last week it had signed memorandums of understanding with Wall Street’s largest asset managers, including Apollo Global Management, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs and KKR to raise upwards of half a trillion dollars for AI companies to borrow against, money that will buy its chips and build the servers that run them.

The six firms will set up what Nvidia calls “compute financing platforms,” drawing on institutional money, insurance funds and private credit. Borrowers can use the proceeds for the chips as well as servers, networking equipment, buildings and power supply.

Nvidia has the option to guarantee up to a quarter of any given deal, which lowers the interest rate its customers pay while leaving most of the credit risk with the lenders.

CEO Jensen Huang said he approached only these six companies and none refused.

Keeping that spending off their own books is precisely the point, and the fact that such a structure is needed at all tells investors a great deal about where the constraints in the AI boom now lie.

The financial engineering rests on a single reclassification. Graphics processing units (GPUs) have always been treated as equipment that loses value quickly, superseded whenever a faster generation arrives.

Nvidia is effectively asking lenders to treat them instead as long-lived infrastructure, closer to a toll road or a power plant, that can be borrowed against for years.

“These are revenue-generating assets now,” Huang said, describing them as productive, long-lived and transferable between customers.

Why the money had to come from somewhere else

The timing reflects a squeeze that has been building all year.

Microsoft, Amazon, Alphabet, Meta and other hyperscalers whose cloud platforms host most of the world’s AI workloads have together guided roughly $720 billion (€624bn) to $745 billion (€646bn) of capital spending in 2026, an increase of about 77% on last year.

What analysts expect the hyperscalers to spend in 2027 alone has more than doubled in the space of a year, from a consensus of $480 billion (€416bn) in August 2025 to $1.08 trillion (€943bn) this month, a rise of about 127%, according to Bank of America.

The pattern has repeated at every stage.

Analysts who already considered last year’s investment unsustainable then watched the hyperscalers guide higher at the start of 2026, revise those figures upward again through the year, and pencil in larger sums still for next year and 2028.

Moody’s has warned that spending on this scale is eating into free cash flow and pushing tech groups into heavier borrowing. Alphabet recorded negative free cash flow of $5.9 billion (€5.1bn) in a quarter when it spent $44.9 billion (€38.9bn) on projects.

That is the pressure the structure of Nvidia’s Wall Street deal relieves.

Debt raised through these “compute financing platforms” sits with the financing vehicles rather than on a hyperscaler’s own accounts and also has Nvidia’s backing, which protects credit ratings and leaves room for conventional borrowing elsewhere.

For smaller operators the effect is larger still as companies such as CoreWeave and Nebius, which lack investment-grade ratings and pay dearly for credit, gain access to capital on terms previously reserved for the giants.

What the market actually read into it

The reaction was more ambivalent than the headline number suggests, and came weeks after a July selloff driven by doubts over whether AI spending will pay for itself.

Essentially, equity investors saw a bottleneck being cleared while credit investors saw something else: the cost of insuring Nvidia’s own debt against default rose after the news and has roughly doubled since late May.

Their doubt concentrates on the reclassification previously mentioned.

“Chips depreciate fast and lose value the moment a newer generation arrives,” warned Nigel Green of financial advisory firm deVere Group, noting that lending against them only works if the collateral holds its value.

Critics also point out that Nvidia is helping finance purchases of its own products, deepening the circularity that already worries the sector.

Goldman Sachs CEO David Solomon called it “a pivotal moment of a historic AI investment cycle.”

Whether it proves pivotal in the direction Solomon means depends on a question nobody can yet answer: what will the value of a current GPU be in five years?

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