Latest News
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Walmart settles US Government's Opioid lawsuit
The Department of Justice announced on Friday that Walmart had settled a lawsuit filed by the U.S. Government accusing it of?fueling a national opioid epidemic? through the illegal?dispensing of prescriptions at its pharmacies. The terms were not available immediately. Justice Department filed a lawsuit against Walmart in 2020. The company, based in Bentonville, Arkansas, was accused of violating federal Controlled Substances Act repeatedly since 2013. Walmart was warned at the time of potentially facing billions in civil penalties. A Justice Department spokesperson stated that the department was pleased to have settled with Walmart to resolve allegations that its pharmacies had failed to meet their obligations under Controlled Substances Act when dispensing opiates and other controlled substances. Walmart released a statement saying: "We're?pleased that this matter has been resolved and we will continue to support the outstanding work our pharmacists perform every day in order to provide 'outstanding patient care. U.S. district judge Colm Connolly narrowed the case in March 2024. He dismissed claims that Walmart failed to report suspicious prescribing to the U.S. Drug Enforcement Administration and that Walmart pharmacists did not document "red flags". Connolly allowed the government to pursue a claim against Walmart that it had dispensed prescriptions which Walmart compliance personnel were aware of being invalid. Unresolved was a fourth claim that pharmacies dispensing prescriptions which they knew to be invalid. This was the largest Justice Department case against one company in relation to the opioid epidemic. Purdue Pharma pleaded guilty in 2020 to 'criminal charges' related to OxyContin, after filing for bankruptcy, as well as the drug wholesaler Cencora (formerly AmerisourceBergen) were also targeted. Walmart will pay $3.1 billion in 2022 to settle thousands of lawsuits filed by local and state governments regarding its pharmacy's role in the opioid epidemic. According to the United States, more than 905,000 people died of opioid overdoses from 1999 to 2025. Centers for Disease Control and Prevention. The agency stated that annual deaths started to decline after 2022. Reporting by Jonathan Stempel and Andrew Goudsward, Washington, D.C.
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Sweden deploys fighter jets and warships in Finland
Finland's Defence Forces announced on Friday that Sweden's military will be involved in the surveillance and defense of Finland's territories with Gripen fighter jets and the 'corvette' warship at least until 2026. The Finnish military stated that the Swedish equipment would strengthen air surveillance, and free up Finnish Defence Forces resources to repel violations or incidents, as needed. Both of the newest NATO members, two neighbouring countries have already established a strong bilateral defense cooperation. Finland shares a 1,340 kilometre (833 mile) border with Russia on its eastern side. Sweden has responded to Finland's request to "strengthen" its air defense due to the deteriorating?security?situation, said Sweden's Defense Minister Pal Jonson. He added that under the agreement the Swedish armed force could, if needed, help Finland repel any violations of Finnish territorial waters. Sweden could also provide ground-based antidrone systems in addition to fighter jets, vessels, and ships with drone combat capability, according to?he. The presence of military drones in the airspaces of Finland, Estonia and Latvia is raising concerns that 'the war in Ukraine' will spill over to NATO's northern borders with Russia. As Ukraine intensifies its attacks on Russian Baltic Sea shipping ports, some drones are missing their targets. This has led to security warnings from neighbouring countries. SAAB of Sweden, which makes the Gripen fighter jet, announced separately on Friday that it had received a 1.2 billion crown order ($126 mln) from Finland for their RBS 70 NG air defence missile systems.
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Germany reports that gas storage injections are increasing as the LNG market improves
German officials said that on Friday, "gas operators are actively filling up storage facilities," citing better price dynamics and a weaker competition in Asia for liquefied natural gas cargoes. A spokesperson for the Economy Ministry told a regular press conference that German "gas" storage sites were 51.64 percent full. Operators had also injected large volumes of gas in recent days, he added. The spokesperson stated that "the winter-summer spread, which was always a problem?as the prices were too expensive - has improved, which may be one of the factors." "Another reason is the cooling of the heatwave in Asia, which means that cargo shipments no longer go to Asia but are purchased here." Germany wants to reach 70% capacity in its storage caverns by November 1st. The energy lobby group BDEW has described the target as achievable but a challenge. The spokesperson for the Ministry said that it is closely monitoring the situation and expects the market participants to keep filling up the facilities. The spokesperson said: "The market has always performed this task, and we continue to monitor the market's functioning." The spokesperson warned against focusing on only storage levels. She said that a certain storage percentage did not determine if supplies could be considered secure. The spokesperson added that the security of supply was based on a more comprehensive assessment, which included Germany's import terminals for LNG and the ability to import from countries in western Europe.
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Russian Urals resumes VLCC shipping to Asia amid higher demand and freight rates
Russian traders are transferring Urals crude to very large crude carriers for delivery to Asia via ship-to ships, according traders and LSEG data. This practice is being revived by the stronger Chinese demand, higher freight costs, and increased Russian trade. China is expected to increase its imports of Russian crude oil as the Middle East's conflict causes disruptions in regional supplies. Russia delivers crude oil to China through pipelines that connect its oilfields to Chinese refiners, and via the Pacific port of Kozmino. During the summer, volumes are also transported from Russia's western port via the Red Sea or the Northern Sea Route. According to LSEG terminal data the VLCC Della departed waters around Egypt's Suez Port on August 21, bound for?Singapore with about 200,000 metric tonnes of Urals crude. Data showed that the cargo was transferred to the tanker via a ship-to -ship (STS). The traders said that the arrangement was used to offset rising transportation costs due to a rise in freight rates and increased?security risks along global shipping routes. The last shipment of Russian Urals crude oil to?Asia via a VLCC occurred?in the winter. Urals crude oil is usually transported by sea from Russia to India where the transport costs are lower due to the shorter journey. Trading sources claim that at least two VLCCs are booked to load Russian crude bound for China via STS operations in the latter part of this month or early in next month. STS transfers are common in the winter, when traders transfer crude oil from Baltic ports to expensive ice-class tanks before transferring them to larger vessels. This reduces overall shipping costs. One trader stated that "reduced traffic in the 'Strait of Hormuz' and the lifting of Venezuelan sanctions have allowed part of the shadow VLCC fleet to be released, creating new opportunities for Russian oil market participants." The cost to ship Urals crude via the Suez Canal from the Baltic ports of Primorsk, Ust-Luga, and Novorossiysk on 100,000-140,000-ton tanks to China is estimated at $20 per barrel. This is roughly $2 more per barrel than deliveries to ports on India's western coast. The cost of shipping Urals crude from western ports into India, its main market, has risen in August due to a strong demand for tankers and the mounting security risks associated with carrying Russian oil. Reporting by. Mark Potter (Editing by Mark Potter).
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Malaysia's Yinson receives take-private offer from major shareholder valued at $1.7 billion
Malaysia's Yinson Holdings announced on?Friday its major shareholder was currently engaged in preliminary discussions regarding the a?privatisation of the?energy -infrastructure company, valuing it as 6.87 billion ringgit (1.71 billion dollars). The major shareholder of the firm, Yinson Legacy, is offering a price indicative of 2.35 ringgit per share for the acquisitions it does not already hold in Yinson Holdings. This represents a 9.3% 'premium' to the last closing price. LSEG data shows that Yinson Legacy owns a 24.68 % stake in the Malaysian listed firm. In a letter sent to the company, Yinson Legacy said that "the final offer price is subject to change based, among other things, on due diligence and the commercial viability" of the proposed scheme. Yinson Legacy said that 'there is no guarantee' that the discussions will lead to the offer being implemented. Separately shipping?company MISC announced that it was part of a consortium with Yinson Legacy for the proposed privatisation of Yinson Holdings. Reporting by Nikita Marie Jino, Bengaluru. Editing by Shakesh Kuber.
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Manager Didi says he plans to invest more than $200 million in Argentina
Didi Global, a Chinese ride-hailing service, plans to invest $200 million in Argentina this year in order to develop new services and safety technologies in smaller cities. The company is looking to expand in Latin America. It has a strong business presence in Brazil and Mexico but also sees a significant growth potential in Argentina. This country is the third largest economy in the region. Didi will expand its services, including Didi Moto (which offers low-cost motorbike rides) and "last mile" transportation to complement public transport. Eduardo Coello said that "Argentina is one of Didi’s top priorities worldwide today," in an interview. As it expands into new cities and towns in Argentina where it already has more than 350 locations, the company expects that the number of drivers who use its app will increase by 25% to over 500,000 this year. Coello stated that the number of drivers should increase by another 10% by 2027. Didi invested $160 million in Argentina in 2025. Uber, the leader in Argentina's ride hailing market, announced?in march that it would invest $500,000,000 in the country within the next three-year period, according to Economy minister Luis Caputo. According to estimates, Didi will have completed 130 million trips in Argentina by 2026. This compares with the 3 billion trips that it accumulated in Mexico over a period of eight years. In August, as part of its local investments plan, Didi implemented safety upgrades through its AI and mapping models. Didi has been attempting to expand its business beyond China over the past few years. It reported a profit in the second-quarter of $129 millions, a rebound from the $177 million loss it suffered in the first-quarter. (Reporting and editing by Nicolas Misculin. (Editing by Lucinda Elliot and Rod Nickel.)
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Romania investigates the cause of a Black Sea cargo vessel sinking
The Romanian President Nicusor Dan and other authorities confirmed that a merchant ship caught on fire and sank in the Black Sea off the coast of Romania Thursday evening. It is likely to have been 'hit', they said. The Romanian Border Police confirmed on Friday that a fire had broken out on a commercial vessel sailing through the exclusive economic zone of Romania, but they did not give a cause. Since Russia's invasion of Ukraine in full force began in 2022 the Black Sea has been repeatedly targeted, and attacks have accelerated in 2026. Dan said that the ship had been hit and it "seemed to have sunk" during a press conference held in Chisinau on Thursday. He added that there was no information available at this time as to who could have been responsible for a possible attack. "There will be a thorough investigation. It?will be determined, but we shouldn't start to speculate," said the?president. He said that the event took place outside of?Romania territorial waters. The Romanian Border Police announced in a?statement that all 12 people aboard the merchant ship were?rescued. They said that 10 of these people were rescued, with one being injured, by border guards. Two others?were saved by the crew of a merchant ship. (Reporting and editing by Jan Harvey; Pawel Florkiewicz and Anna Koper)
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Typhoon Saudel hits China's east coast and disrupts travel
On Friday morning, typhoon Saudel hit China's east coast twice. Authorities evacuated people and stopped trains and ferries. According to the state media, the typhoon hit the cities of Taizhou at 8:05 am (0005 GMT), and Wenzhou at?9:10 am (0110 GMT). This is the third typhoon that has struck the eastern province Zhejiang in this year. Saudel will bring heavy rains to Zhejiang, a province in the southeast, and?Fujian. There is a possibility of 'local torrential downpours', according to Xinhua, a state-run news agency. As the typhoon moves inward, it may saturate provinces such as Hubei, Guangxi, and Yunnan. State broadcaster CCTV reported that the Wenzhou government ordered an evacuation of more than 820,000 people. Meanwhile, Taizhou authorities closed eight passenger ferry routes, and identified 52,000 people who needed to be evacuated. According to CCTV, the rail operator China Railway Shanghai Group suspended certain services on several lines in Zhejiang between Thursday and Friday. Fujian responded to the typhoon on Thursday by halting all projects along the coast and closing 57 passenger ferry routes. Reporting by Liz Lee and Yukun Zhu; Editing and production by Christopher Cushing, Christian Schmollinger
After drone attacks, Russian oil exports from Novorossiysk will more than halve by August
According to traders and LSEG shipping data, oil exports from Russia’s Black Sea Port of Novorossiysk will halve from their July levels in 'August after Ukrainian drone strikes disrupted loadings at the Sheskharis Oil Terminal.
Two traders have said that Novorossiysk's loadings are expected to drop below 350,000 barrels a day (bpd), from about 800,000 in July.
Ukraine increased drone strikes against Russian energy infrastructure this year, including ports of export and pipelines. The aim is to reduce the revenue from oil exports.
Sheskharis Terminal at Novorossiysk, Russia's principal crude export outlet along the Black Sea handles shipments of Urals Light and Siberian Light crude. The port also loads Kazakhstan’s KEBCO mix for export markets.
Traders estimate that Russian producers will?load about 600,000 metric tonnes?of crude oil from Novorossiysk this August. The rest of the total 1.4 millions tons of oil is made up of Kazakh crude. Market participants believe that Ukraine will not target vessels carrying non-Russian crude oil. This is why Russia has diverted some Kazakh transit from the Baltic port Ust-Luga, to Novorossiysk. Financial Times reports that Ukraine has promised to stop attacking tankers transporting non-Russian oil from Black Sea ports. Drones had previously targeted cargoes "linked to Kazakhstan", including CPC Blend exports at the Caspian pipeline consortium's terminal in Yuzhnaya Ozereyevka near Sheskharis.
Traders say they expect the disruption of Russian crude loadings at?Novorossiysk will continue through September.
One trader stated that "we don't anticipate the situation to ease in Novorossiysk next month. So, it is likely we will be seeing more?Kazakh barriques."
In addition to Novorossiysk in the Far East, Russia also exports crude from its Baltic ports, Primorsk and Ust-Luga. (Editing by Elaine Hardcastle).
(source: Reuters)