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Evergrande's billionaire boss, Hui Ka Yan, has pleaded guilty to fraud charges after the collapse of the world's most indebted property developer. Hui, a former steelworker who rose to become one of China's richest people, pleaded guilty to charges including fundraising fraud, misuse of funds, and illegally taking public deposits.The property group has defaulted on most of its $300bn liabilities since 2021, emblematic of China's property sector woes that have long dragged on economic growth. Evergrande's failure to repay billions of dollars of wealth management products unleashed frustration among the lower and middle classes, many of whom had investments wiped out, provoking protests and threatening social stability.Hui and the company also face charges of illegally extending loans, fraudulently issuing securities, and bribery by units, with verdicts to be handed down later. The maximum penalties for illegal fundraising include jail for life and confiscation of property, while bribery can also bring life terms.In 2024, China's securities regulator fined Hui $6.6m and barred him from the securities market for life, after finding Evergrande's leading business had inflated earnings and committed securities fraud. Hui's net worth was estimated at $45.3bn in 2017, but dropped to $3bn by 2023.

A French court has fined Lafarge, a French cement maker, more than €1m (£870,000) and sentenced its former boss, Bruno Lafont, to six years in prison for paying protection money to Islamic State and other terror groups to maintain its business in war-torn Syria from 2013 to 2014.The ruling follows a 2022 case in the United States in which Lafarge pleaded guilty to conspiring to provide material support to US-designated “terrorist” organisations and agreed to pay a $778m fine (£580m). This was the first time a company had faced the charge.The Paris court found that Lafarge, which is now part of the Swiss conglomerate Holcim, paid nearly €5.6m via its subsidiary Lafarge Cement Syria (LCS) to terror groups and intermediaries to keep its plant operating in northern Syria.The company’s former chief executive, Bruno Lafont, was sentenced to six years in prison for financing terrorism, which a judge ordered him to start serving immediately. Lafont’s lawyer said he would appeal.The presiding judge, Isabelle Prevost-Desprez, said: “This method of financing terrorist organisations, and primarily IS, was essential in enabling the terrorist organisation to gain control of Syria’s natural resources, allowing it to finance terrorist acts within the region and those planned abroad, particularly in Europe.”Lafarge established a “genuine commercial partnership with IS”, she said, which added to the “extreme gravity of the offences”.Lafarge had finished building a $680m factory in Jalabiya in 2010, just before Syria’s civil war erupted in March the following year amid opposition to the brutal repression of anti-government protests by the then president, Bashar al-Assad.While other multinational companies left Syria in 2012, Lafarge evacuated only its expatriate employees and left its Syrian staff in place until September 2014, when IS seized control of the factory.In 2013 and 2014, LCS paid intermediaries to access raw materials from the Islamic State organisation and other groups and to allow free movement for the company’s trucks and employees. It paid groups including Islamic State and Syria’s then al-Qaida affiliate Jabhat al-Nusra.

Donald Trump's military approach against Iran has backfired, emboldening the country rather than weakening it. The 16-hour talks in Pakistan, led by JD Vance, failed to extract a quick accord, highlighting the complexity of issues between Washington and Tehran. The Israeli Prime Minister, Benjamin Netanyahu, had sold the war to Trump as an opportunity for regime change. However, Trump's plan had no clear strategy beyond killing senior Iranian officials, which only strengthened hardliners within the regime. Trump's goal of destroying Iran's military capacity has also failed. US intelligence indicates that Iran's ability to replenish its missiles and drones remains considerable. Furthermore, Iran is causing significant damage to Gulf states. The main issue remains Iran's nuclear program. The 2015 accord, negotiated by Barack Obama, had required Iran to limit its nuclear activities, but Trump withdrew from the deal in 2018. Today, Iran has nearly 900lb of highly enriched uranium, which could be further refined into a nuclear bomb. Trump's aggressive approach has handed Iran a new weapon: the ability to close the Strait of Hormuz, a critical waterway for international shipping. This move could wreak havoc on the world economy and give Iran significant revenue through tolls. The article concludes that diplomacy is the only viable solution to the conflict. Negotiation requires compromise and give-and-take, which Trump has so far resisted. The stakes are high, with the potential for genocide and massive war crimes. The door to a deal remains open, but it demands a willingness to negotiate in good faith.

World champion boxer Terence Crawford was found guilty of careless driving on Monday and ordered to pay a $75 fine stemming from a traffic stop last year that led to a gunpoint incident. The incident occurred on September 28, hours after Crawford's hometown of Omaha held a parade to celebrate his unanimous-decision victory over Canelo Álvarez in a super middleweight championship fight.Crawford was stopped by police after officers observed his vehicle driving recklessly. During the stop, Crawford's head of security informed an officer that he was carrying a legal firearm, and seconds later, another officer spotted a gun on the floorboard. With guns drawn, officers ordered everyone out of the vehicle. Crawford claimed he had leaned over to tell the officer that he also had a legal firearm, but the officer didn't hear him. Police confirmed that all occupants of the vehicle were legally permitted to carry firearms.The traffic stop led to an internal investigation by the Omaha police chief into the officers' actions, which was found to have been lawful. In addition to the $75 fine, Crawford was ordered to pay $49 in court costs. This incident comes after Crawford announced his retirement in December with a 42-0 record and 31 knockouts, making him the first male boxer to capture three unified division titles.

Booking.com, a leading accommodation reservation website, has suffered a significant data breach that has exposed customer information to unauthorized parties. The company, which lists over 30 million accommodation venues worldwide, detected suspicious activity involving unauthorized access to some guests' booking information.Upon discovering the breach, Booking.com took immediate action to contain the issue and updated the PIN numbers for affected reservations. The company has also informed affected customers about the breach. According to Booking.com, financial information was not accessed during the breach.The breach is the latest in a series of cybercrime attempts on Booking.com, which has recently struggled with a rising number of online scams on its platform. In 2018, the company reported a breach that exposed the booking data of over 4,000 people. Booking.com was fined €475,000 for reporting the breach 22 days late to the Dutch privacy regulator.The company, owned by Booking Holdings, a $137 billion US company, employs over 24,000 people worldwide. The breach highlights the growing concern of fake listings on booking websites and the need for increased cybersecurity measures in the industry.

Experts are closely monitoring climate patterns in the Pacific Ocean, which indicate a high chance of El Niño developing this summer. A strong El Niño event could lead to severe weather conditions, including super-charged rainstorms and droughts, depending on the region. A 'super El Niño' could push 2027 to break global heat records, according to climate scientists. This phenomenon occurs when ocean surface temperatures in the central and eastern tropical Pacific Ocean warm up, leading to significant impacts on global weather patterns. El Niño is characterized by warming of the ocean surface in the central and eastern tropical Pacific Ocean. It's one of three states scientists observe: La Niña, conversely, happens when sea surface temperatures are below average, and neutral conditions are defined when neither El Niño or La Niña are present and surface temperatures are about average. The 'El Niño-southern oscillation' (Enso) tends to develop during spring in the northern hemisphere and shifts every three to seven years. Warming and cooling at sea surface during El Niño and La Niña can range from 1C to 3C, and have enormous effects on precipitation, drought, heat, and climate disasters in different regions. Conditions are currently shifting from La Niña to a neutral pattern, according to the latest outlook from the US Climate Prediction Center. Models show a 62% chance El Niño will emerge this summer and linger until at least the end of the year. A super El Niño that occurred in 2015 brought severe drought in Ethiopia, water supply shortages in Puerto Rico, and smashed records after unleashing a vicious hurricane season in the central North Pacific. A 'super' El Niño means one that is stronger, typically defined by sea surface temperatures spiking up to at least 2C. Noaa scientists have given a 1 in 4 chance that this could happen by fall or winter, with the caveat that spring forecasts are sometimes muddled. Transitions in conditions that happen in the spring can make outcomes a bit harder to predict. Experts warn that a strong or super El Niño could lead to drought and heat across Australia, southern and central Africa, India, and parts of South America. Heavy precipitation, meanwhile, could hit the southern tier of the US, parts of the Middle East, and south-central Asia.

The economic consequences of an Iran war could have devastating effects on global poverty, with 32 million people at risk of being pushed into poverty worldwide. The United Nations Development Programme (UNDP) warns that developing countries will bear the brunt of this impact. In a report released amid concerns over a fragile ceasefire, the UNDP highlights a 'triple shock' affecting energy, food, and economic growth. This conflict is reversing international development gains, with uneven regional impacts expected. Alexander De Croo, UNDP administrator and former Belgian prime minister, emphasizes that even if the war ends, its impact will persist, especially in poorer countries where people may be pushed back into poverty. He notes that those who had previously escaped poverty are now at risk of falling back into it. The report outlines three scenarios for the war's impact. In the worst-case scenario, involving six weeks of major disruption to oil and gas production and eight months of higher costs, 32.5 million people globally could fall into poverty. The UNDP uses the upper-middle-income poverty line, an international standard defined as income below $8.30 per person per day, calculated by the World Bank. To mitigate these effects, the UNDP suggests targeted and temporary cash transfers to protect vulnerable households in developing nations, estimating a cost of about $6 billion to neutralize the shocks for those falling below the poverty line. The agency also recommends interventions like temporary subsidies or vouchers for essential services. The news comes as Western governments face criticism for cutting aid spending amid economic pressures and increased defense spending. The UNDP and other international agencies stress the importance of maintaining or increasing development aid to support countries hardest hit by the economic fallout.

The US has announced plans to blockade the Strait of Hormuz, a vital waterway through which about 20% of global oil passes. This move comes after ceasefire talks with Iran ended without an agreement over the weekend. The blockade, threatened by President Donald Trump, aims to pressure Iran into reopening the strait, which has been effectively closed since February 28. Trump's announcement on social media stated that the US Navy will begin the process of blockading any and all ships trying to enter or leave the Strait of Hormuz. He accused Iran of 'WORLD EXTORTION' and threatened that any person who attacked US vessels would be 'BLOWN TO HELL!' However, the blockade's scope appears to have been scaled down, with US Central Command (Centcom) stating it would be confined to vessels transiting through Iranian ports, permitting passage of ships headed to ports belonging to America's Gulf allies. The blockade is set to come into effect at 10am ET (2pm GMT). The UK will not be involved in any blockade of the strait, and Australian Prime Minister Anthony Albanese has stated that his country was not asked to participate. Oil prices have surged following Trump's announcement, with US crude increasing 8% to $104.24 a barrel and Brent crude oil rising 7% to $102.29. Experts warn that the blockade could lead to higher oil prices, but much depends on its 'scope and implementation.' The managing director of research at ClearView Energy Partners, Kevin Book, noted that leaner volumes generally mean tighter markets and higher prices. Iranian and/or Houthi reprisals against Gulf producers' alternative routes could drive prices still higher. The blockade could cut off one of the Iranian regime's major sources of funding but might also have a short-term negative effect on global prices. About 100 tankers have transited the strait since the US and Israel started bombing Iran, most carrying Iranian oil products bound for China and India. Iran's Revolutionary Guards have stated that any warships approaching the strait to enforce a blockade would be considered in breach of the current ceasefire and would be dealt with strongly. Trump floated the possibility of a resumption of US strikes inside Iran, citing missile factories as one possible target.

Manchester City delivered a decisive 3-0 victory over Chelsea at Stamford Bridge, a result that reduced Arsenal's nine‑point cushion to six and gave Pep Guardiola's side fresh impetus in the Premier League title race.City seized control early in the second half, with Nico O'Reilly heading in from a Rayan Cherki cross in the 51st minute. Six minutes later, Cherki’s incisive play produced a disguised pass to Marc Guéhi, who finished to make it 2-0. A third goal followed as a swift counter‑attack saw Cherki again on the ball, delivering a cross that O'Reilly converted, sealing the win.The match also highlighted individual milestones: Cherki notched his 10th league assist, becoming the first debutant since Dimitri Payet (2015‑16) to reach double‑digit assists in a Premier League season. Meanwhile, Guéhi recorded the first away player to keep two clean sheets at Stamford Bridge in a single campaign, having previously done so with Crystal Palace.Strategically, the win narrows the gap to Arsenal, leaving City six points behind with a game in hand. Should City overcome Arsenal at the Etihad this weekend, they could overtake the Gunners and re‑establish themselves as front‑runners for the title.Chelsea, hampered by the absence of injured captain Reece James and the suspension of Enzo Fernández, struggled to match City’s intensity. Their disciplinary record remains a concern, having amassed the league's highest number of yellow cards for dissent (16). Despite moments of promise from Cole Palmer, Pedro Neto and João Pedro, the Blues lacked the cutting edge in the final third and were out‑classed in midfield.Guardiola’s halftime adjustments proved pivotal; the team increased tempo, sharpened passing angles, and pressed higher, turning a sluggish first half into a dominant second‑half display. The victory not only restores confidence after a recent FA Cup win over Liverpool but also underscores City’s ability to respond swiftly to rivals’ slip‑ups, a pattern that has defined many of their recent title pursuits.