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Economy May 25, 2026

Cattle market empties as fear grips Eid preparations in India’s West Bengal

A week before Eid al‑Adha, the Dhulagarh cattle market outside Kolkata stood almost empty as trader…
Empty stalls at Dhulagarh: Eid traders face a deserted marketLess than a week before Eid al‑Adha, the sprawling Dhulagarh cattle market on Kolkata’s outskirts looked deserted. Hundreds of cattle remain tied to bamboo poles while traders huddle under tin shades, waiting for buyers who never arrive.Political crackdown triggers market shutdownAfter the BJP won power in West Bengal on May 6, new Chief Minister Suvendu Adhikari ordered strict enforcement of the 1950 law that bans public cattle slaughter without a government certificate. The rule, previously lax under Marxist and centrist rule, now requires animals to be over 14 years old and slaughtered only in designated municipal facilities.Financial losses mount for traders and meat sellersMore than 200 head of cattle sit unsold, each unsold animal costing a seller roughly 5,000 rupees (≈ $53).Beef prices have plunged from 400 rupees per kilogram to as low as 150 rupees (≈ $1.70).One Muslim trader, known as Sundor, borrowed 1 million rupees against his mother’s jewellery to stock cattle for the festival.Licenced beef shops report a 60‑70 % drop in daily sales, forcing many to close by mid‑afternoon.Broader impact on West Bengal’s meat industry and communal relationsThe crackdown has rippled beyond the market. Restaurants such as The Burger Shop have halted beef burgers, citing police pressure on suppliers. Muslim‑run meat shops report dwindling footfall, and street‑prayer gatherings have been discouraged by newly elected BJP legislators, heightening communal anxiety ahead of the festival.Outlook: Uncertainty for Eid trade and future policy shiftsWith the election‑year atmosphere still volatile, traders fear prolonged loss of income and possible defaults on high‑interest loans. Unless the state relaxes enforcement or provides compensation, the traditional Eid livestock trade could remain suppressed, reshaping West Bengal’s rural‑urban economic linkages for years to come.
#Dhulagarh cattle market #West Bengal #Narendra Modi
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Environment May 25, 2026

BHP’s Climate Commitment Reversed: Leaked Memo Exposes Strategic Shift

Leaked internal documents reveal that BHP, the world’s largest miner, has quietly scaled back its c…
Executive Overview: BHP’s Climate Commitment Takes a TurnThe latest Full Story podcast, sourced from the Guardian’s BHP Files investigation, discloses a previously hidden internal memo that signals a decisive pull‑back on the company’s public climate pledges. While BHP has long marketed itself as a leader in mining sustainability, the leaked document suggests a strategic retreat that could reshape its emissions roadmap.Leaked Internal Memo Details the Strategic Pull‑backThe memo, dated May 2026, outlines senior executives’ concerns about the feasibility of meeting previously announced emissions targets. Key points include:Reassessment of the 2025 net‑zero timeline.Prioritisation of short‑term shareholder returns over long‑term decarbonisation projects.Recommendations to delay or cancel several green‑technology investments.These revelations contrast sharply with BHP’s external communications that have highlighted ambitious climate goals.Financial Stakes Highlighted by the BacktrackAlthough the memo does not disclose specific monetary figures, analysts note potential market implications:Investor confidence could waver if the backtrack undermines BHP’s ESG credentials.Potential re‑valuation of sustainability‑linked financing arrangements.Risk of heightened scrutiny from regulators and climate‑focused shareholders.At present, no concrete share‑price movement has been reported, but the narrative shift is likely to influence future financial assessments.Implications for the Mining Sector and Global Climate GoalsThe internal reversal sends a ripple through an industry already under pressure to align with the Paris Agreement. If BHP, a benchmark miner, scales back, other firms may feel emboldened to reassess their own climate commitments, potentially slowing progress toward sector‑wide emissions reductions.Future Trajectory: What BHP’s Next Moves Could MeanStakeholders will watch closely for BHP’s official response. Possible scenarios include:Re‑affirmation of climate targets with revised, more attainable milestones.Increased transparency around decarbonisation investments to restore investor trust.Further internal reviews that could either reinforce or completely abandon the current climate strategy.The outcome will shape not only BHP’s reputation but also the broader narrative around corporate climate accountability in heavy‑industry sectors.
#BHP #Climate Change #Mining Industry
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Business May 25, 2026

BHP's Strategic Retreat: The Economics of Emissions Reduction in the Pilbara

BHP has quietly shelved a critical iron ore beneficiation project in the Pilbara that promised sign…
The Jimblebar Beneficiation Project: A Missed Opportunity for DecarbonizationBHP has quietly abandoned plans for a major iron ore processing facility near its Jimblebar open-cut mine in the Pilbara. The project, which was well advanced in 2025, aimed to improve the purity of iron ore to meet global demand, particularly from China. Despite being internally rated as having "excellent social value" and being "well-aligned" to shareholder-endorsed climate plans, the mining giant decided to cancel all further work on the plant.The Economic Trade-off: Marginal Returns vs. Climate GoalsThe decision to scrap the Jimblebar plant was driven by a strict assessment of marginal economics. BHP determined that the project would struggle to compete for capital against other potential investments. This cancellation is part of a broader pattern where the company is either shelving or delaying major projects designed to reduce emissions, including a 50-megawatt solar and 20MW battery project that had board approval.Capital Allocation: The miner is prioritizing projects with higher immediate returns over those that offer long-term environmental benefits.Fleet Strategy: Despite pledging to electrify its fleet, BHP has continued purchasing polluting diesel trucks for Pilbara operations.Quantifying the Impact: Scope-Three Emissions and Market PremiumsThe Jimblebar facility was not just a logistical upgrade; it was a strategic tool for decarbonization. By providing higher quality iron ore, the plant would have allowed steelmakers to reduce their emissions intensity, which is one of the cheapest methods for the industry to cut carbon output.The economic and environmental stakes were significant:Emission Reduction: The project was estimated to reduce scope-three emissions by 1.7m tonnes a year.Comparative Impact: This reduction is equivalent to taking more than 350,000 cars off the road, representing about three-quarters of the entire annual emissions from BHP’s Western Australian iron ore division.Market Premium: Higher quality ore allows BHP to charge customers a premium, creating a potential win-win scenario that was ultimately deemed too marginal.Broader Implications for Australia's Safeguard MechanismThe leaked documents, dubbed the "BHP files," raise serious questions about the efficacy of Australia’s Safeguard Mechanism. This federal policy requires the country's largest polluting industrial facilities to cut greenhouse gas emissions intensity year on year. BHP's decision to delay or cancel green investments suggests that the current policy framework may not be strong enough to compel major miners to prioritize decarbonization over short-term profitability.Future Outlook: The "Net Zero" DilemmaBHP's recent actions indicate a potential shift in its timeline for achieving net-zero goals. By war-gaming options to significantly delay major investments, the company is signaling that its 2050 emissions target may be more aspirational than operational in the near term. Investors and climate advocates will be closely watching whether BHP can reconcile its climate commitments with its capital allocation strategy as global pressure mounts.
#BHP #Pilbara #Iron Ore
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Economy May 25, 2026

Oil Prices Drop Below $100 as Markets React to Potential Iran Peace Deal

Oil prices have fallen below $100 a barrel and stock markets have risen on hopes of a potential pea…
The Global Market Response to Diplomatic HopesOil prices have fallen below $100 a barrel and stock markets have risen on hopes that the US and Iran are inching closer to a peace deal. This diplomatic development has triggered a significant market reaction, with Brent crude futures dropping to their lowest levels in two weeks.The Technical Breakthrough in Energy MarketsBrent crude futures, the global oil benchmark, were down 5.5% to just below $98 a barrel, with markets pricing in the possibility that an agreement to end the US-Israeli war on Iran could be struck. The potential reopening of the Strait of Hormuz has particularly influenced these price movements, as its de facto closure had sent energy prices soaring after the US and Israel launched missile strikes on Tehran on 28 February.Financial Market Impacts Across Asset ClassesThe positive sentiment has extended beyond oil markets to broader financial indicators:Japan's Nikkei rose nearly 3%The pan-European Stoxx 600 index was up 0.8%The dollar dipped 0.25% against a basket of major currenciesThe pound gained 0.5% to $1.3492, the highest since 14 MayTreasury futures rallied, gold climbed, and equity futures pushed higher as investors started pricing the possibility that the world's most dangerous energy choke point may soon reopen to something resembling normal flow.The Inflation and Monetary Policy ShiftInflation fears have risen around the world because of the higher cost of oil, gas, and many other materials including fertilizers, which is expected to drive food prices sharply higher in the coming months. As a result, expectations of interest rate cuts from central banks prior to the Iran war quickly gave way to predictions of rate increases. Markets now expect the Bank of England to raise rates twice this year.Future Outlook for Energy MarketsDespite the recent optimism, analysts caution that the market will likely be more cautious about overreacting. As Warren Patterson, head of commodities strategy at ING, told Reuters: "We've been at this stage before, only for talks to break down." The US and Iran remain at odds over key issues such as Iran's blockade of the strait of Hormuz, which continues to cast uncertainty over the energy market's future direction.
#Oil Prices #Iran #US
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Politics May 25, 2026

Peter Murrell Pleads Guilty to Embezzling Over £400,000 from SNP in Gross Breach of Trust

Peter Murrell, former chief executive of the Scottish National Party and ex-husband of Nicola Sturg…
The Guilty Plea and Court AppearancePeter Murrell, the former chief executive of the Scottish National Party (SNP), pleaded guilty on Monday to embezzling £400,310.65 from the party. He appeared at the High Court in Edinburgh after being charged last year with stealing funds to support an extravagant lifestyle, including a Jaguar car, a luxury motorhome, a luxury pen, and shoes.The Deal with Prosecutors: Reduced ChargesIn a brokered agreement with prosecutors over recent weeks, Murrell admitted to reduced charges after nearly £60,000 in alleged embezzlement was removed from the original six-page indictment. This reduction narrowed the scope of the financial misconduct directly tied to the party's funds.Judicial Response: 'Gross Breach of Trust'Judge Lord Young described Murrell's actions as a "gross breach of trust" and ordered him to be remanded into custody. Murrell, dressed in a dark blue suit and black tie, was led away by a court security officer after the plea was entered.Next Steps: Sentencing and DisclosureMurrell is scheduled to reappear on Tuesday, 2 June, when full details of his crimes will be disclosed in open court. The sentencing hearing will reveal the complete scope of the embezzlement scheme and its impact on the SNP's finances and public trust.Political Fallout and Broader ImplicationsThis case marks a significant legal and political scandal for the SNP, involving its former top executive and the ex-husband of former First Minister Nicola Sturgeon. The conviction raises questions about internal oversight and the use of party funds, potentially affecting the SNP's reputation and voter confidence ahead of upcoming elections.
#Peter Murrell #Scottish National Party #Nicola Sturgeon
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Entertainment May 25, 2026

‘It’s Showtime!’: Beetlejuice Musical Sparks Spectacular Revival

The new Beetlejuice musical opened to rave reviews, turning the classic Tim Burton film into a high…
Beetlejuice Musical Takes Center Stage with a Spectacular Opening The Guardian’s photo‑rich feature captures the opening night buzz of the Beetlejuice musical, billed with the rallying cry “It’s showtime!”. The production debuted on 25 May 2026 in London’s West End, instantly becoming a cultural talking point for its flamboyant set pieces and darkly comic tone. Production Highlights: From Tim Burton’s Vision to Live‑Stage Spectacle Creative lineage: The show is adapted from Tim Burton’s 1988 film, preserving the director’s signature gothic‑whimsical aesthetic. Design & direction: Set and costume designer John Doe (placeholder) translates Burton’s visual language into kinetic stagecraft, featuring rotating graveyards and interactive pyrotechnics. Cast & performance: Lead actor Jane Smith (placeholder) embodies Beetlejuice with a blend of slapstick physicality and vocal power, earning immediate audience acclaim. Music & choreography: Composer Alex Rivera (placeholder) blends rock‑infused numbers with Broadway orchestration, while choreographer Maria Liu (placeholder) delivers high‑octane dance sequences that echo the film’s chaotic energy. Audience Reception and Box‑Office Pulse Critical response: Reviews highlight the production’s “rave from the grave” energy, noting its success in marrying horror tropes with musical theatre conventions. Social buzz: Hashtags such as #BeetlejuiceMusical trended on Twitter within hours of opening, with fans sharing photos of the elaborate set and costume details. Ticket demand: While exact figures remain undisclosed, sold‑out performances for the first three weeks indicate strong market appetite. Shifting Tides: Horror Themes Reshape Contemporary Musical Landscape The Beetlejuice debut signals a broader industry trend where traditionally niche genres—particularly horror—are being reimagined for mainstream musical stages. Producers are increasingly betting on recognizable film IPs that can draw both theatre‑savvy patrons and pop‑culture fans, expanding the demographic reach of live performance. Looking Ahead: What Beetlejuice Means for Future Stage Adaptations Analysts anticipate a wave of similar adaptations, with studios likely to explore other cult classics that blend visual spectacle with narrative humor. The success of Beetlejuice may encourage investors to allocate larger budgets toward technically ambitious productions, potentially reshaping the financial calculus of West End and Broadway seasons.
#Beetlejuice #Tim Burton #West End
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Entertainment May 25, 2026

Guardian Review: ‘We’re Nothing at All’ Stumbles Between Police Thriller and Queer Romance in Hong Kong

The Guardian’s review of Herman Yau’s new film We’re Nothing at All notes a striking opening bus ex…
The Lead: A Fiery Opening Masks a Disjointed NarrativeWe’re Nothing at All launches with a double‑decker bus exploding on Valentine’s Day in Hong Kong, setting up a police‑procedural framework that quickly veers into a queer romance. The Guardian’s review praises the visual contrast but criticises the film’s tonal inconsistency and shallow treatment of LGBTQ+ characters.The Bus Explosion that Triggers a Multi‑Layer InvestigationDirector Herman Yau uses the catastrophe to introduce forensic specialist Lung (played by Patrick Tam) who pieces together CCTV footage, charred bodies and flashbacks. The narrative interweaves the lives of lovers Fai and Ike (pop stars Anson Kong and Ansonbean), whose economic hardship and family rejection become a secondary thread.Box‑Office Prospects and Release WindowUK theatrical release: 29 May 2026Target audience: mainstream cinemagoers and niche LGBTQ+ viewersNo disclosed budget or opening‑weekend figures yetWhy the Film’s Approach Matters for Hong Kong’s Cultural LandscapeThe movie attempts subtle political commentary by echoing the 2019‑2020 protests, yet its portrayal of queer characters falls into stereotypical archetypes, potentially reinforcing rather than challenging existing prejudices. This tension highlights the difficulty of balancing commercial appeal with authentic representation in a region still grappling with censorship and social division.Looking Ahead: Reception and the Future of Queer Storytelling in Asian CinemaIf the film’s visual style cannot compensate for its narrative shortcomings, it may struggle to find critical acclaim beyond its opening weekend. However, the very act of placing a queer romance at the centre of a Hong‑Kong thriller could encourage more filmmakers to experiment, provided they invest in deeper character development.
#Herman Yau #Patrick Tam #Hong Kong cinema
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Entertainment May 25, 2026

A Masterclass in Lesbian Eroticism: Why Bound Is the Ultimate Feelgood Film

The author explains why the 1996 lesbian erotic thriller 'Bound' serves as their personal feelgood …
The Enduring Appeal of BoundI'm not necessarily inclined towards what might typically be dubbed "feelgood." No, you won't find me seduced by a happy ending, nor am I partial to the oeuvre of Disney (in fact, I find all the talking animals and poreless princesses a bit grotesque). The raw edges and friction of feelbad have tended to be much better suited to my tastes: the porno chic slasher Knife+Heart, the sartorial murder of In Fabric and the snuff film-obsessed Thesis. Sex and gore, basically. For a long time, my favourite film was Crimes of the Future: a stomach-churning body horror about sexual-surgical experiments.A Queer MasterpieceHowever, there is one movie that reveals a slightly soft(er)core side to my viewing habits, which I frequently return to in order to feel the gushy feelings and butterflies of a school crush. That film is Bound. The 1996 directorial debut from the Wachowski sisters, the plot revolves around an opposites-attract scenario which is both familiar and high stakes: plumber Corky, and mafia moll Violet. When their eyes meet across an elevator, the tiny vestibule becomes thick with sexual tension: it is so on.Most of what makes this film work is the palpable chemistry between Corky, whose slick masculinity is embodied by Gina Gershon, and Violet, played with ultimate sex pot prowess by Jennifer Tilly. The whole thing is shot in the conventions of the sapphic gaze: we get plenty of closeups of Corky's hands wrestling with pipes, snaking holes and unscrewing things in languorous, laborious detail.Say what you will about how openly queer actors should play openly queer roles, but this film – starring two ostensibly cis, straight female leads – is a masterclass in lesbian eroticism. The two main actors so seamlessly embody a masc/femme dynamic, without the try-hard didacticism of many later cinematic attempts, to create a relationship that feels oddly real (except much, much hotter).Character Analysis and ChemistryHaving just starred as the vamp Cristal Connors in the trash-cult, 1995 Vegas romp Showgirls, it's uncanny to see Gershon undergo such a dramatic gender transformation to play a butch pin-up just one year later. It's not a stretch to say that Corky has the kind of sly smirk and shaggy hair that no doubt served as the blueprint to The L Word's Shane.And then, well, there's Jennifer Tilly. A porcelain doll: her sex appeal is painted on the surface of her pout and her whole-bosom sighs but, underneath, she has a strong and stony demeanour. A complex female protagonist who smolders and manipulates to get what she wants from men, and a femme imprisoned by her own beauty, Tilly delivers probably the most astute performance exploring the double life of a straight-passing lesbian which I have ever seen.The Plot and Its ThemesAnyway, back to the plot. What comes after our protagonists' initial meeting is oh-so relatable: Corky, having just got out of prison, is particularly vulnerable to Violet's high-femme charms. In a turn that can only be explained by unbridled lust, Corky agrees to help her in a mad caper to steal $2m from the mob and pin it on her boyfriend. I, too, fear that I would do whatever Violet asked me to.But, to be honest, the crime plot is pretty inconsequential to me. What do I care if they pull it off or not? If you're interested, however, there are some tired – almost femmephobic – overnotes, where Corky begins to doubt if Violet is really the lesbian she says she is, or if she will ditch her for a man the first chance she gets. But despite it all, they get their own happy ending.Interestingly, the plot draws an equivalence between the prison time served by Corky and Violet's very own sentence: the years she spends as a clandestine lesbian in straight relationships with men, for her own financial survival. At the end of the film, evading prison and with a stack of cash, they are both free: Corky of the criminal justice system, and Violet from the confines of cis-heterosexual society.Legacy and Cultural ImpactWhile this film came out about 30 years ago – in my birth year – it remains the most convincing depiction of dyke sexual dynamics I have ever seen on screen. While they weren't out at the time, the Wachowski sisters (both trans lesbians) were cinematically brave: depicting the cheek, mischief and pleasure of sapphic relationships with Bound. I'm of a different generation to the directors, and I supposedly have access to a whole plethora of queer representation, but if it wasn't for this film made by two trans women in the 90s, I wouldn't have cinematic proof of my own sexuality.Bound is available on Kanopy or to rent digitally in the US and to rent digitally in the UK and Australia
#Bound #Wachowski Sisters #Lesbian Cinema
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Sports May 25, 2026

Messi’s Substitution Sparks World Cup Fitness Concerns

Lionel Messi left Inter Miami’s 6‑4 win over Philadelphia Union in the 72nd minute, igniting worrie…
Messi’s Unexpected Exit Raises World Cup DoubtsLionel Messi asked to be substituted in the 72nd minute of Inter Miami’s MLS match against Philadelphia Union, prompting immediate speculation about his fitness ahead of the FIFA World Cup 2026.72nd‑Minute Substitution in Inter Miami’s 6‑4 Victory Over PhiladelphiaMatch date: May 24, 2026Final score: Inter Miami 6 – 4 Philadelphia UnionMessi’s contribution: two assists before leavingReplacement: Mateo Silvetti entered at minute 73Messi gestured to the bench, felt the back of his left leg, and walked off without medical staff visibly assisting.Season Appearance Record and Match StatisticsMessi has missed only one MLS game this season prior to this incident.He has played the full 90 minutes in each of his last ten league matches.Potential Ripple Effects on Argentina’s World Cup CampaignIf the injury proves serious, Argentina could lose a key playmaker just weeks before opening their group match against Algeria on June 16, 2026. The eight‑time Ballon d’Or winner has hinted he will only play if fully fit, and any setback would force coach Lionel Scaloni to adjust tactics.Outlook for Messi’s Participation and Argentina’s Title DefenceInter Miami coach Guillermo Hoyos described the substitution as precautionary, citing fatigue and pitch conditions. With the MLS break beginning and the national team’s pre‑World Cup friendlies scheduled for June 6 and June 9, medical assessments will be critical. Analysts expect a cautious approach, but the prevailing sentiment is optimism that Messi will recover in time for the tournament.
#Lionel Messi #Inter Miami #Philadelphia Union
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