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The Panama Papers, a massive leak of 11.5 million documents from Panamanian law firm Mossack Fonseca, exposed a vast network of offshore shell companies used by global elites to evade taxes and scrutiny. The leak, which involved over 350 journalists from 80 countries, revealed that hundreds of people, including over 140 politicians, were linked to offshore entities.The scandal led to significant consequences, including the resignation of Iceland's Prime Minister Sigmundur Gunnlaugsson and the disqualification of Pakistan's Prime Minister Nawaz Sharif from office. Mossack Fonseca ultimately shut down in 2018 following the leak.Governments worldwide have recovered around $2 billion in taxes, penalties, and levies since 2016, with countries like the UK, Sweden, and France each recovering between $200-250 million. However, the amount of unaccounted funds remains significantly higher.The leak has also driven regulatory changes, including the Corporate Transparency Act in the US, which requires disclosure of beneficial owners of offshore entities. The United Nations is considering a Convention on Taxation to address global tax challenges.Despite progress, gaps remain in the global tax system, allowing individuals and companies to exploit loopholes and avoid taxes. Experts stress the need for a multilateral tax convention to address tax competition and treaty shopping.

US President Donald Trump has intensified his rhetoric against Iran, suggesting that the United States aims to seize the country's oil industry. In a recent social media post, Trump stated that with more time, the US can 'easily open the Hormuz Strait, take the oil, and make a fortune.' This assertion marks a significant escalation in his statements regarding Iran. The strategic Hormuz Strait, a critical waterway for global oil shipments, has been effectively blocked by Iran early in the conflict, leading to a surge in energy prices. Trump's comments come as the US and Israel continue their military campaign against Iran, with the war now entering its sixth week. Under international law, specifically the doctrine of Permanent Sovereignty over Natural Resources adopted by the UN General Assembly in 1962, oil and minerals are considered to belong to the countries where they are located. Trump's repeated calls for 'taking the oil' in countries involved in US military actions, including Iraq and Venezuela, have been controversial. Despite the assassinations of top Iranian officials and daily bombardments by the US and Israel, the Iranian government remains in control of the country's natural resources. The US has no publicly known military presence on the ground in Iran, and Trump did not provide details on how his administration plans to control Iran's oil. Trump's suggestion that replicating the Venezuelan model in Iran is possible but would require prolonging the war has sparked concerns. He expressed a preference for taking Iran's oil but noted that the US public may not have the patience for a prolonged conflict. Legal experts have criticized Trump's threats to bomb civilian infrastructure, including power stations and water desalination plants, as potential war crimes under international law. Iran's Foreign Ministry spokesperson has likened the US attacks to ISIS tactics, highlighting the devastating impact on civilian populations.

Iranian military units have launched a coordinated search for the two pilots of a United States F‑15 fighter jet that was struck by an Iranian air‑defence system over the country's southwest region. The operation, reported by the state‑run Fars news agency, is the first documented crew‑recovery effort since the US‑Israeli war with Iran began on 28 February. State media released images showing the aircraft's wreckage, including an ejection seat attached to a parachute, underscoring the seriousness of the incident. Reuters cited two U.S. officials confirming that a fighter jet was downed and that a search‑and‑rescue mission is underway for any survivors. Iranian Parliament Speaker Mohammad‑Bagher Ghalibaf used the event to mock President Donald Trump’s repeated claims of victory, posting on social media that the conflict had been reduced from "regime change" to a plea for the location of the pilots. According to Iranian reports, the downed aircraft was an F‑15 likely crewed by two pilots. The Pentagon and U.S. Central Command (CENTCOM) have not issued an immediate comment, a pattern consistent with past Iranian claims that CENTCOM swiftly denied. Local Iranian television broadcast footage of the jet's debris, and officials appealed to civilians to remain vigilant for any survivors. The governor of Kohgiluyeh and Boyer‑Ahmad province announced that anyone who captures the crew would receive special commendation, as relayed by the semi‑official ISNA news agency. U.S. lawmakers responded with statements of support. Senate Minority Leader Chuck Schumer posted on X, "I’m praying for the safe return of the crew aboard the fighter jet and all of those working to rescue them in these dangerous conditions." Since the war's onset, the United States has reported the loss of three F‑15s in a friendly‑fire incident over Kuwait and a refuelling aircraft that crashed in Iraq, killing six crew members. Iran, meanwhile, claims to have downed dozens of U.S. drones and continues to assert that its new air‑defence system, introduced after the 12‑day war, remains operational. While President Trump and his advisers repeatedly assert that the United States has neutralised Iran’s air‑defences, the downing of the jet and the ensuing search highlight the ongoing volatility of the conflict.

Former Iranian foreign minister Mohammad Javad Zarif urged Tehran to declare victory and pursue a diplomatic settlement after a rapid escalation of hostilities between Washington and Tehran. U.S. President Donald Trump warned that the U.S. military has not even started dismantling what remains of Iran’s infrastructure, a statement made in the wake of a strike that demolished the country’s largest bridge. In retaliation, Iran’s armed forces cautioned that they would destroy U.S. regional assets if the United States and Israel intensify their attacks, signaling a willingness to broaden the conflict. Tehran’s latest wave of strikes hit a desalination plant in Kuwait and the Habshan gas facility in the United Arab Emirates, extending the battlefield across the Gulf region. Analysts interpret Zarif’s call for a victory proclamation as a strategic pivot toward seeking a negotiated deal, even as military rhetoric on both sides remains fierce.

Match details: Manchester City will meet Liverpool at the Etihad Stadium on Saturday, 4 April, kicking off at 12:45 pm local time (11:45 GMT) in the FA Cup quarter‑final.Salah’s impending exit: The Egyptian forward announced during the international break that he will leave Liverpool at the end of the season, having scored 255 goals for the club. Manager Arne Slot praised his “ever‑present hunger” and said the striker remains a legend despite a brief spell out of the squad earlier in the campaign.Guardiola’s suspension: City boss Pep Guardiola will miss the fixture after receiving a sixth yellow card in the 3‑1 FA Cup win over Newcastle United. The booking came after he protested a referee’s decision on a challenge to Jeremy Doku. This could be his last appearance against Liverpool as speculation grows over his future at Manchester City.Stakes for both sides: City are chasing a historic domestic treble – League Cup, FA Cup and Premier League – a feat last achieved in 2018/19. Liverpool, sitting fifth in the Premier League, view the cup as their only realistic route to silverware and a chance for Slot to secure his position after delivering a record‑equalling 20th league title.Upcoming fixtures: A win for Liverpool would be followed by a Champions League quarter‑final clash with Paris Saint‑Germain on 8 and 14 April. City, meanwhile, will look to build on their recent 2‑0 League Cup final victory over Arsenal.Team news – Manchester City: Centre‑back Josko Gvardiol remains sidelined with a tibial fracture. Ruben Dias and John Stones face late fitness tests for hamstring and calf issues. If Dias is unavailable, Abdukodir Khusanov or Nathan Ake could partner Marc Guehi in central defence. Goalkeeper James Trafford is expected to start, giving him a chance ahead of Gianluigi Donnarumma.Predicted City XI: Trafford; Nunes, Khusanov, Guehi, Ait‑Nouri; Bernardo, Rodri, O’Reilly; Semenyo, Haaland, Cherki.Team news – Liverpool: Mohamed Salah missed the recent 2‑1 loss to Brighton with a muscle injury but is expected to be fit. Conor Bradley, Giovanni Leoni and Wataru Endo are out, and Alisson Becker remains doubtful due to a muscular problem. Jeremie Frimpong’s availability is pending after a knock on international duty; Dominik Szoboszlai may cover at right‑back if needed. Alexander Isak has returned to training but is unlikely to feature this weekend.Predicted Liverpool XI: Mamardashvili; Szoboszlai, Konate, Van Dijk, Kerkez; Mac Allister, Gravenberch; Salah, Wirtz, Gakpo; Ekitike.Historical head‑to‑head: The two clubs have met 220 times, with Liverpool winning 110 matches, City 62 and 58 draws. Their most recent league encounter ended in a 2‑1 City win thanks to a stoppage‑time penalty from Erling Haaland.Other quarter‑final ties: After the early kickoff, Chelsea face Port Vale, Arsenal travel to Southampton, West Ham host Leeds, and the remaining fixtures will determine the final four.

Kuwait has been hit by Iranian missile and drone strikes, targeting a crucial power and desalination plant, as well as the Mina al-Ahmadi oil refinery. The attacks, which occurred on Friday, have raised concerns about the stability of the region and the potential for further escalation. The power and desalination plant was struck before midday local time, with the extent of the damage still unknown. The plant is critical for Kuwait's water supply, as the country is highly dependent on desalinated water. An Indian national was killed in a similar attack on March 30, and Iran denied claims it launched the attacks, blaming Israel instead. The Mina al-Ahmadi oil refinery, one of the largest in the Middle East, was targeted in early morning drone strikes, resulting in fires in several operational units. No employees were injured, but emergency and firefighting teams were dispatched to the scene, and environmental authorities monitored the area for air quality. The attacks are part of a broader escalation of tensions in the Gulf region, with Iran launching retaliatory strikes against US and Israeli targets. The United Arab Emirates' defence ministry reported that it had intercepted 19 ballistic missiles and 26 drones on Thursday alone, while Saudi Arabia destroyed a drone in its airspace overnight. Iran's army spokesperson warned of impending attacks on regional power plants, while US President Donald Trump warned of intensifying strikes on Iran's infrastructure. The situation remains volatile, with concerns about the potential for further attacks and the impact on regional stability.

Iran has announced that its army forces are fully prepared to repel any potential attacks from the United States and Israel. The statement comes amid heightened tensions in the region and escalating rhetoric between Iran and its adversaries. The Iranian military's readiness is seen as a direct response to increased military presence and threats from the US and Israel in the region. Iran has been vocal about its defensive capabilities and its willingness to protect its sovereignty.The situation in the Middle East remains volatile, with Iran and Israel having a long-standing adversarial relationship. The US has maintained a significant military presence in the region, further complicating the dynamics.

The ongoing war in Iran has ignited a fresh oil supply shock, sending crude prices soaring and rippling through economies worldwide. Analysts note that the conflict’s persistence is tightening global oil flows, prompting immediate spikes in gasoline, diesel, and jet fuel costs. Energy traders report that the heightened uncertainty has amplified market volatility, with benchmark crude benchmarks climbing to levels not seen in months. The price surge is pressuring both consumers and businesses, as higher fuel costs translate into increased transportation expenses and broader inflationary pressures. Governments and central banks are now monitoring the situation closely, aware that sustained higher oil prices could erode economic growth and strain household budgets, especially in regions heavily dependent on imported energy. While the full economic impact remains to be quantified, the consensus among experts is clear: the prolonged Iran war is reshaping the global energy landscape, underscoring the fragility of supply chains and the need for diversified energy strategies.

An appellate panel in Colorado has ordered a new sentencing hearing for former Mesa County clerk Tina Peters, whose original nine‑year prison term was overturned on procedural grounds. The three‑judge panel ruled that the trial court improperly considered Peters's personal belief in alleged 2020 election fraud when determining her punishment, rendering the sentence invalid. While the conviction for assisting an out‑of‑state actor in accessing and copying Mesa County voting‑machine data remains intact, the court emphasized that the sentence, not the guilt, was flawed. "The trial court’s comments about Peters’s belief in the existence of 2020 election fraud went beyond relevant considerations for her sentencing," the opinion read. Judge Matthew Barrett, who previously described Peters as a “charlatan” peddling “snake‑oil” claims, was specifically cited for remarks that the appeals court deemed extraneous to the sentencing decision. Peters was found guilty in August 2024 of facilitating the theft of election‑system files for a person linked to efforts to overturn former President Donald Trump's 2020 loss. The stolen copies were later disseminated on social media, fueling the broader election‑denial movement. In December, President Trump issued a pardon for Peters. However, the appellate court clarified that a presidential pardon cannot override state convictions, stating, "We have found no instance where the presidential pardon power has been stretched in such a way as to invade an individual state’s sovereignty." Governor Jared Polis of Colorado has hinted at the possibility of clemency, though no formal action has been announced. The case continues to serve as a rallying point for Trump supporters who claim the 2020 election was riddled with fraud, a narrative that persists despite the former president’s re‑election in 2024 and ongoing legal scrutiny.