Minimalist News

Watch Live: Will Fed Chair Powell Push Back Against The 'Not Hawkish' Dots? Given that Powell and his pals were flying blind into this meeting, just how will he defend his actions (and hint at his outlook) considering it exposes even more guesswork among the groupthinkers than normal. Powell's previous comments were the hawkish signal that sank stocks and bonds and needed Fed's Williams to stop the pain... Will Powell let the Dots do the talking - not as hawkish as was expected? Or will he help spoil the Christmas party with his own brand of bah, humbug? Watch Fed Chair Powell's last press conference

Gunboat Diplomacy Returns: US Seizes Oil Tanker Off Venezuela Update (1518ET): President Trump confirmed to Bloomberg that U.S. forces intercepted and seized a tanker near Venezuela's coast, saying further information will be provided soon. *   *.  * Gunboat diplomacy was on full display Wednesday afternoon after Bloomberg reported that U.S. forces intercepted and seized a sanctioned Venezuelan oil tanker off the coast of Venezuela. This move underscores the Trump administration's Monroe-2.0 posturing as Washington seeks to reassert control over the Western Hemisphere after years of neglect. Bloomberg cited sources who did not disclose the tanker's name or the general area where U.S. military forces seized

FTA Threatens To Cut Funds To Chicago Transit Authority After Woman Set On Fire Authored by Melanie Sun via The Epoch Times, The Federal Transit Authority has threatened to withdraw funding for Chicago’s public transport network if the city doesn’t “measurably reduce assaults on transit workers and passengers” and address “unsafe conditions that have contributed to increased crime.” FTA Administrator Marc Molinaro on Dec. 8 sent letters to Chicago Mayor Brandon Johnson and Illinois Gov. JB Pritzker, outlining a Dec. 15 deadline for the Chicago Transit Authority (CTA) to develop a “verifiable security enhancement plan” to be implemented in full across the CTA’s

"Bud Light" Moment Hits Cracker Barrel: Stock Crushed, Traffic Slides, Guidance Slashed Cracker Barrel shares are lower in premarket trading after posting softer-than-expected quarterly sales and cutting full-year revenue and profit guidance. Customer traffic dropped more than anticipated, driven in part by backlash after the casual dining chain effectively "Bud Lighted" itself with a disastrous woke rebranding. The rebranding ...  ... which was eventually reversed and the marketing 'expert' resigned, appears to have a lasting impact on sales.  First-quarter results swung to an adjusted loss of 74 cents per share versus a profit a year ago, slightly better than the Bloomberg Consensus estimate. Revenue

Obamacare Was Not A Failure Authored by Connor O'Keefe via The Mises Institute, “You have turned, Mr. President, the right of every American to have access to decent healthcare into reality for the first time in American history.” Those are the words then-Vice President Joe Biden said to President Obama in the East Room of the White House on March 23, 2010, as he prepared to sign the Patient Protection and Affordable Care Act—or Obamacare—into law. The signing ceremony was jubilant as party leaders celebrated their legislative victory. And across the country, their joy was shared by millions of Obama’s supporters who were convinced that the

Trump Says National Guard Member Who Survived DC Shooting 'Stood Up Today' Authored by Aldgra Fredly via The Epoch Times, President Donald Trump said on Dec. 9 that West Virginia National Guard member Staff Sgt. Andrew Wolfe, who was critically injured after being shot in Washington last month, has stood up from his bed and is showing signs of recovery. Wolfe and fellow National Guard member Army Spc. Sarah Beckstrom were shot on Nov. 26 in what U.S. authorities say was an ambush near the White House. Beckstrom died of her injuries the following day, while Wolfe was left in critical condition. Trump gave

Intel Shares Fall After Lawsuits Claim US Chipmakers Aided Russian Weapons Intel shares slipped in early trading Wednesday after the company was named in a series of lawsuits accusing major U.S. chipmakers of failing to stop their technology from ending up in Russian weapons used against civilians in Ukraine. Intel, Advanced Micro Devices and Texas Instruments — along with Mouser Electronics, a Berkshire Hathaway–owned distributor — are alleged to have shown “willful ignorance” as restricted semiconductors were resold through third parties to Russia and Iran, according to five suits filed Wednesday in Texas state court. The cases, brought on behalf of dozens of

Deep Discounts Tempt Indian Refiners To Seek Non-Sanctioned Russian Oil Authored by Tsvetana Paraskova via OilPrice.com, The majority of India’s biggest refiners are buying Russian oil from non-sanctioned sellers and traders as widening discounts of Russia’s crudes to benchmarks are tempting the price-sensitive Indian importers, sources involved in the purchases told Bloomberg on Wednesday.  Before the latest sanctions on Russian oil producers Rosneft and Lukoil, India bought from Russia around one-third of all the crude it imported, as it sought cheaper oil. Amid tense trade negotiations with the United States, India earlier this year was singled out by U.S. President Donald Trump as the main financier

Russia Rejects New Zelensky Offer Of 'Energy Ceasefire' As Grid Repair Woes Worsen Russia has rejected a new Zelensky proposal for an "energy ceasefire." Kremlin spokesman Dmitry Peskov has explained that Russia wants a "long-term peace" and not a just a temporary ceasefire. Zelensky has offered a mutual halt to strikes on energy infrastructure if Russia agreed, mirroring something which had only briefly been in effect at the start of this year. This 'offer' comes at a moment that Ukraine is suffering perhaps its worst energy crisis of the war, with lengthy blackouts not just being experienced in the country's east and

WTI Holds Losses After Big Product Inventory Builds, US Crude Production Nears Record Highs Oil prices extended their recent decline this morning as concerns about global oversupply continued to weigh on sentiment. Crude has been trapped in a tight $4-a-barrel range since the start of November, as oversupply concerns vie with geopolitical risks surrounding the flow of sanctioned Russian barrels into nations including India. “I’m increasingly becoming a bit of a contrarian here, given the limited selling response to all the negative news," said Ole Hansen, head of commodities strategy at Saxo Bank AS. "The biggest risk to prices could be to the upside if

The Fiddle-All Reserve By Michael Every of Rabobank The RBA rates hold decision generated two notable headlines from the Australian Financial Review: ‘RBA is worried it cut interest rates too far’; and ‘RBA is caught in Ray Dalio’s Doom Loop’. The Bank of England says Chancellor Reeves’ budget will lower inflation by 50bps in 2026, backing the view that they will give the public an Xmas rate cut next week. Of course, note that the Australian government used similar state spending deliberately targeted at certain sections of the CPI index to help persuade the RBA to cut three times… only for it to

China's DeepSeek Using Banned Nvidia Chips To Develop Next Major Model Chinese AI startup DeepSeek has been using 'several thousand' banned Nvidia Blackwell chips to develop its next major model, The Information reports, citing six people with knowledge of the matter.  The chips in question were smuggled into China through a complex scheme that involves sending them to data centers in countries that are allowed to purchase them - then dismantling the servers and importing the components to China.  Doing so allowed DeepSeek to remain competitive in the AI race, as Chinese AI chips are still not sufficient to train AI models - a process in which the models

USA Rare Earth Shares Volatile After Accelerating Timeline For Commercial Production By Two Years USA Rare Earth shares were up more than 3% heading into the cash open on news that the company is accelerating commercialization of its Round Top rare earth project in Texas, a move that could bring U.S. production online years ahead of most competing efforts. The cash open prompted selling pressure which dragged USAR down 3% USAR now expects commercial production at Round Top in late 2028—two years ahead of its prior schedule. The deposit is regarded as the richest known U.S. source of heavy rare earth elements, as

F-18 Fighter Jets Flew Deep Inside Gulf Of Venezuela In Closest Approach Yet For the first time, two US Navy F/A-18 fighter jets flew deep into the Gulf of Venezuela, the body of water bordered by Venezuelan territory on three sides, in what appears to be the latest ultra-provocative show of force from Washington. Some reports say the jets lingered long in the airspace, circling the gulf for some 40 minutes. The flyover happened Tuesday and appears the closest known approach by American aircraft to Venezuela's coastline since the Pentagon began a major buildup in the Caribbean several months ago, which has also

Futures Flat With Fed Rate Cut, Oracle Earnings On Deck US equity futures are flat ahead of a Fed meeting where a rate cut is assured (the only question is whether it will be hawkish or dovish) and Oracle results later. As of 8:00am ET, S&P and Nasdaq 100 futures are unchanged, with Mag 7 stocks mixed in premarket trading (TSLA +0.5%, META -0.5%, AAPL -0.3%, NVDA -0.2%). Bond yields are mostly unchanged and the USD is flat ahead of the Fed. Commodities are mixed: oil added 0.2%; base metals are lower (copper -1.1%); silver added 0.6% this morning.  It’s a big day

CFTC Starts Pilot Program Allowing Crypto As Collateral In Derivative Markets Authored by Stephen Katte via oinTelegraph.com, The US Commodity Futures Trading Commission has issued updated guidance for tokenized collateral in derivatives markets, paving the way for a pilot program to test how cryptocurrencies can be used as collateral in derivatives markets. Collateral in derivatives markets serves as a security deposit, acting as a guarantee to ensure that a trader can cover any potential losses.  The digital asset pilot, announced by CFTC acting chairman Caroline Pham on Monday, will allow futures commission merchants (FCM) - a company that facilitates futures trades for clients - to accept Bitcoin, Ether and

Trump To "Make Phone Call" Over Thai-Cambodia Border Crisis As 500,000 Flee At a rally in Pennsylvania on Tuesday night, President Trump told the crowd he will be "making a phone call" to the leaders of Thailand and Cambodia to urge peace and help resolve their ongoing border dispute. "Who else could say, 'I'm going to make a phone call and stop a war of two very powerful countries. We're making peace through strength," Trump told the audience. > Trump Says He’ll Ring Cambodia, Thailand Over Return of Border Skirmishes > > President Donald Trump said he intends to contact the leaders of Thailand

No Wonder The World Seems Deranged... Authored by Charles Hugh Smith via OfTwoMinds blog, WHY WE FAIL No wonder the world seems deranged - it is deranged by the immense strength of an Old Guard clinging onto power by any means available even as the world around them spins into incoherence. There are many reasons why we fail, but perhaps the most critical one is continuing to do more of what has failed. This has many potential sources, from the psychological (self-sabotage, etc.) to the ideological (the market is the solution to every problem, etc.) to cognitive biases (recency bias, etc.). One enduring source of continuing to do more of

SpaceX Reportedly Targeting 2026 IPO That Could Rival Saudi Aramco's Historic Listing SpaceX is preparing a record-breaking IPO targeting a valuation of roughly $1.5 trillion, with expectations to raise $30 billion or more and debut in the second half of 2026. If the Bloomberg report is accurate, the offering would surpass Saudi Aramco's 2019 listing and become the largest public listing in history. The report says SpaceX management and advisers are seeking a 2H26 listing that could raise more than $40 billion in stock, making it the largest IPO of all time, well above Saudi Aramco's $29 billion listing. Current internal valuation (based

State Department Has Revoked 85,000 Visas Since January, Official Says Authored by Jacob Burg via The Epoch Times (emphasis ours), The Trump administration has rescinded 85,000 visas across all categories since President Donald Trump’s inauguration in January, a State Department official said on Dec. 9. The Department of State logo and U.S. flag, in this illustration created on April 23, 2025. Dado Ruvic/Reuters The official told The Epoch Times that the revocations, which are more than double the numbers from 2024, include 8,000 students. “Some of the top reasons why we revoked the visas were DUIs, assaults, and theft, which together account for almost half

Daughter delivers speech, with Nobel Institute saying María Corina Machado still expected in Oslo after journey of ‘extreme danger’ Venezuela’s most prominent opposition leader, María Corina Machado, has vowed to continue her struggle to free the country from years of “obscene corruption”, “brutal dictatorship” and “despair” as she was awarded the Nobel peace prize at a ceremony in Norway’s capital, Oslo. The 58-year-old conservative has lived in hiding in Venezuela since its authoritarian leader, Nicolás Maduro, was accused of stealing the 2024 presidential election from her political movement. Despite fevered speculation that she would make a dramatic appearance at Wednesday’s event, having

In Pennsylvania, US president attacks Ilhan Omar and Jasmine Crockett and makes multiple false claims, including that ‘prices are way down’. This blog is now closed. A federal judge in New York has granted the justice department’s request to unseal grand jury documents in the sex-trafficking case against Ghislaine Maxwell – the companion and accomplice of the late sex-offender Jeffrey Epstein. It comes after the passage of the Epstein Files Transparency Act, which Donald Trump signed last month. The legislation requires the Department of Justice to release the full tranche of records related to disgraced financier, in a searchable format by 19 December. Continue

Xiomara Castro alleges US manipulation and blackmail as preliminary count shows two rightwing candidates closely tied Honduras’s president, Xiomara Castro, has alleged that an “electoral coup” is under way in the country’s presidential election, which she says has been marked by “interference from the president of the United States, Donald Trump”. The leftist president also said that “the Honduran people must never accept elections marked by interference, manipulation and blackmail … Sovereignty is not negotiable, democracy is not surrendered.” Continue reading...

Press conference was expected to have been Venezuelan opposition leader’s first public appearance in 11 months A press conference in Oslo with the Nobel peace prize laureate María Corina Machado, the Venezuelan opposition leader in hiding, has been cancelled, the Norwegian Nobel Institute has said, adding that it was “in the dark” as to her whereabouts. Machado last appeared in public on 9 January at a demonstration in Caracas protesting against the inauguration of Nicolás Maduro for his third term as president. The press conference, traditionally held by the Nobel laureate on the eve of the award ceremony, had been expected to

President accuses neighbor of violating treaty governing water-sharing and urges water to be released ‘immediately’ Donald Trump has threatened to impose an additional 5% tariff on Mexico if it does not immediately provide additional water to help US farmers, accusing the country of violating a treaty that outlines water-sharing between the neighbors. Under the treaty, which dates back to 1944, Mexico must send 1.75m acre-feet of water to the US from the Rio Grande through a network of interconnected dams and reservoirs every five years. The agreement also stipulates that the United States must annually allocate 1.5m acre-feet of water from the

Baby Ruth Villarama’s documentary Food Delivery depicts those struggling with the superpower to retain their trade. The director describes capturing their boats getting rammed by the Chinese coast guard During a televised debate in 2016, populist presidential candidate Rodrigo Duterte made a typically belligerent statement that he himself would jetski to Scarborough Shoal in the South China Sea and plant a Philippine flag there. Duterte claimed that he was ready to die a hero to keep the Chinese out of the bitterly contested maritime territory. “That made millions of Filipino workers and fishers vote for him because of that one promise,” says

After a ceasefire deal he brokered collapsed, Trump told a rally in Pennsylvania that he would ‘make a call’ to ‘stop a war’ between Thailand and Cambodia US president Donald Trump said on Tuesday that he will make a call regarding reignited hostilities on the Thai-Cambodia border, where fighting has resumed less than two months after a ceasefire he brokered between the two nations collapsed. Speaking at a rally in Pennsylvania, the US president reiterated his global peacemaking skills, proclaiming that “in ten months I ended eight wars”, before listing hostilities between Kosovo and Serbia, Pakistan and India, and Israel and Iran. Continue

The Emily in Paris actor and writer of the Tony-nominated Slave Play remains in Japan while prosecutors investigate the alleged discovery of MDMA in his bag The American playwright and Emily in Paris actor Jeremy O Harris has been released three weeks after his arrest in Japan on suspicion of drug smuggling while prosecutors investigate, police said Wednesday. Japan has some of the world’s strictest drug laws, and possession of illegal narcotics can result in jail time. Prosecutors also have a very high conviction rate. Continue reading...

Commerce department finalising deal to allow H200 chips to be sold to China as strict Biden-era restrictions relaxed Donald Trump has cleared the way for Nvidia to begin selling its powerful AI computer chips to China, marking a win for the chip maker and its CEO, Jensen Huang, who has spent months lobbying the White House to open up sales in the country. Before Monday’s announcement, the US had prohibited sales of Nvidia’s most advanced chips to China over national security concerns. Continue reading...

Each side has blamed the other for renewed clashes, which have derailed a ceasefire brokered by Donald Trump Deadly clashes have escalated along the disputed Thailand-Cambodia border as both sides blamed each other for the fighting and vowed to defend their territories. Seven civilians have been killed and 20 wounded in Cambodia and three Thai soldiers have been killed in the fiercest fighting since a five-day conflict in July. Continue reading...

Deputy PM meets with the US secretary of defence, Pete Hesgeth, as series of Aukus meetings begin. Follow the latest updates * Get our breaking news email, free app or daily news podcast Lidia Thorpe says government needs to take Indigenous deaths in custody more seriously Independent senator Lidia Thorpe has said the federal government needs to do more to address Indigenous deaths in custody and stop “handballing” to states and territories after a damning report found more Indigenous people died in custody last year than any year since 1980. There’s no appetite at the federal level to do anything about it. They

Atars and VCE results released on Thursday morning, with other states to follow next week * Follow our Australia news live blog for latest updates * Get our breaking news email, free app or daily news podcast Two years ago, Ethan Bundle-Bell was considering dropping out of school, considering himself “not a book person”. Yet he has now become the first person in his family to complete year 12. “I didn’t think it would happen,” the 17-year-old says. “I didn’t think I’d be finishing year 12.” Continue reading...

Exclusive: Prime minister defends Anika Wells as controversy over use of taxpayer-funded travel entitlements continues * Follow our Australia news live blog for latest updates * Get our breaking news email, free app or daily news podcast Expenses rules for federal politicians are so broad that ministers and senior politicians have “unlimited” travel entitlements for their spouse, according to guidelines governing spending. Despite days of controversy around spending by the communications minister, Anika Wells, and growing calls for reform of the rules, Anthony Albanese did not indicate there would be changes to entitlements. Continue reading...

Australian psych-rockers, who removed their music from Spotify in protest against the streaming service, lament the appearance of AI band King Lizard Wizard Spotify has removed an AI impersonator of popular Australian rockers King Gizzard and the Lizard Wizard from the streaming service, with the band’s frontman voicing despair at the situation. King Gizzard removed their music from Spotify in July in a protest against the company’s chief executive Daniel Ek, who is the chair of military technology company Helsing as well as a major investor. Continue reading...

Natasha Ugle says ‘nothing has changed’ since her husband Wayne’s death in 2023, as a national report found 33 First Nations peoples died in custody last year * Warning: This article contains images of and references to Indigenous Australians who have died * Get our breaking news email, free app or daily news podcast The widow of a Noongar man who died at a maximum security prison in Western Australia two years ago says “nothing has changed” for Aboriginal people, after a damning report revealed that more Indigenous people died in custody last year than any year since 1980. The national deaths

Previously sceptical MPs now want to modernise human rights law to prevent an overreach of the law and losing to the far right The sight of David Lammy and the attorney general, Richard Hermer, arriving in Strasbourg together to demand new constraints on human rights law would have been unthinkable a year ago. But as one ally says, quoting Giuseppe Tomasi di Lampedusa’s seminal 1860s novel The Leopard: “If we want things to stay as they are, things will have to change.” It was that sentiment that convinced Lammy’s predecessor, Shabana Mahmood, now home secretary, that the UK should join the push

Keir Starmer, Emmanuel Macron and others to discuss peace plan as US tries to push through peace deal Leaders of the “coalition of the willing” group of nations will hold a video call on Thursday as chaotic American efforts to push through a peace deal to end the war in Ukraine reach a crunch moment. Ukraine’s president, Volodymyr Zelenskyy, said his officials would hand over a revised version of a peace plan to US negotiators on Wednesday before the call with leaders and officials from about 30 countries. Continue reading...

European leaders confirm that they spoke with the US president earlier today about ‘the state of talks’ Jørgen Watne Frydnes, chair of the Norwegian Nobel Committee, is now delivering his opening speech. It’s a damning verdict on Maduro’s authoritarian rule in Venezuela, as he talks about a number of figures facing repression and torture from the regime. “As we sit here in Oslo City Hall, innocent people are locked away in dark cells in Venezuela. They cannot hear the speeches given today – only the screams of prisoners being tortured.” Venezuela has evolved into a brutal, authoritarian state facing a deep humanitarian and economic

L/Cpl George Hooley, 28, reportedly died in accident away from frontline while observing test with Ukrainian soldiers The British soldier who died in Ukraine on Tuesday has been named as L/Cpl George Hooley, 28, of the Parachute regiment. Keir Starmer told the Commons on Wednesday that Hooley had died in a “tragic accident” away from the frontlines while watching a test of “a new defensive capability” with members of the Ukrainian military. Continue reading...

Syrians who have rebuilt their lives abroad face uncertainty over their futures amid hardening of attitudes Tears of joy streamed down Abdulhkeem Alshater’s face as he joined thousands of other Syrian nationals in central Vienna last year. The moment they were marking felt like a miracle: after more than five decades of brutality and repression, the Assad regime had fallen. A day later, however, the ripple effects of what had happened 2,000 miles away in Syria were laid bare. A dozen European states announced plans to suspend asylum applications from Syrians, in a show of how western states are increasingly treating refugees

Aid agencies say Israel is still restricting their aid shipments despite ceasefire announced two months ago Malnutrition continues to take a toll among Gaza’s young despite a ceasefire declared two months ago, with more than 9,000 children hospitalised for acute malnutrition in October alone, according to the latest UN figures. While the immediate threat of famine has receded for most of the 2.2 million Palestinians in Gaza after the ceasefire announcement on 10 October, the UN and other aid agencies report continuing Israeli restrictions on their humanitarian aid shipments, which they say fall well below the needs of a population weakened and

Eyal Zamir said Israel would hold on to current positions, giving it control of more than half of the territory The “yellow line” that divides Gaza under Donald Trump’s ceasefire plan is a “new border” for Israel, the country’s military chief told soldiers deployed in the territory. The chief of the general staff, Eyal Zamir, said Israel would hold on to its current military positions. These give Israel control of more than half of Gaza, including most agricultural land and the border crossing with Egypt. Continue reading...

Former UK leader loses out on key role in transitional authority after objections from Arab and Muslim nations Tony Blair will not occupy a key position on Donald Trump’s Gaza “peace council” after Arab and Muslim nations were reported to have objected to the involvement of the former UK prime minister. According to the Financial Times (FT), Blair has been quietly dropped from consideration for Trump’s “board of peace”, which Trump has said he would chair himself. Continue reading...

Sanctions, instability and external meddling are still problems for Ahmed al-Sharaa, one year after Assad’s fall * Ddivided Syria struggles to escape cycle of violence * The fall of the house of Assad – in pictures If ubiquity and handshakes were the only measures of success, Ahmed al-Sharaa would be diplomat of the year. Since he formally became president of Syria on 29 January 2025, the former leader of Hayat Tahrir al-Sham – a jihadist group with an al-Qaida lineage – has made a total of 21 public international trips to 13 countries. These include a visit to the UN general assembly,

While country’s return to global stage has filled many Syrians with pride, domestically old grievances threaten efforts to rebuild the state * Anniversary of the fall of house of Assad in Syria – in pictures Lying in bed recovering after his latest surgery, Ayman Ali retells the story of Syria’s revolution through his wounds. His right eye, lost in an attack on a rebel observation post he was manning in 2012, is covered by yellow medical tape. Propped against the wall is a cane he uses to walk, after a rocket attack in 2014 left him with a limp. For 14 years,

Officials say the Birch nightclub had contravened multiple safety regulations and that the basement had no fire safety exit Four members of the same family on their first holiday to Goa were among the 25 killed in a deadly fire at a nightclub in the popular Indian tourist state on Saturday night. The massive blaze broke out at just before midnight at Birch by Romeo Lane, a buzzing bar, restaurant and nightclub in north Goa’s Aporna district. Continue reading...

Fire broke out at midnight in Arpora with victims mostly kitchen workers, according to state’s chief minister At least 25 people have been killed in a fire at a nightclub in Goa, an Indian state popular for its nightlife and tourism. Several tourists were among the 25 dead in the fire, which broke out at about midnight at Birch by Romeo Lane, a popular restaurant, cocktail bar and club in Arpora, a district of north Goa. Continue reading...

This blog is now closed, you can read more on this story here Russia and India will reshape their defence ties to take account of New Delhi’s push for self-reliance, the two countries said in a joint statement after a summit between president Putin and Indian prime minister Narendra Modi. “In response to India’s aspirations for self-reliance, the partnership is currently being reoriented toward joint research and development, as well as the production of advanced defence platforms,” the statement said. Continue reading...

Narendra Modi says energy security is ‘pillar of the India-Russia partnership’ as two leaders meet in Delhi Vladimir Putin has told the Indian prime minister, Narendra Modi, that Russia is ready to continue “uninterrupted” shipments of oil to India, signalling a defiant stance to the US as the two leaders met in Delhi and affirmed that their ties were “resilient to external pressure”. The statement, made on Friday after the annual India-Russia summit, appeared to be directed at western countries – particularly the US – that have attempted to pressure New Delhi into scaling back its ties to Moscow. Continue reading...

Delhi visit gives Russian leader a chance to reduce Moscow’s isolation but both countries need each other to negotiate Trump’s US and a powerful China When Vladimir Putin last set foot in India almost exactly four years ago, the world order looked materially different. At that visit – lasting just five hours due to the Covid pandemic – Putin and the Indian prime minister, Narendra Modi, discussed economic and military cooperation and reaffirmed their special relationship. Three months later, Russia’s full-scale invasion of Ukraine would turn him into a global pariah, isolating the Kremlin from the world and restricting Putin’s international travel. Continue

Nestlé confectionery treats now described as being ‘encased in a smooth milk chocolate flavour coating’ Toffee Crisp and Blue Riband bars can no longer be called chocolate after Nestlé reformulated their recipes due to the increasing cost of ingredients. The Swiss conglomerate now describes the treats as being “encased in a smooth milk chocolate flavour coating”, rather than being covered in milk chocolate. Continue reading...

BMA puts health secretary’s offer, which includes pledge to double number of extra training places, to resident doctors Wes Streeting has made an improved offer to end the long-running dispute with resident doctors before their strike next week that threatens to bring chaos to the NHS as it battles a flu surge. The health secretary has pledged to double the number of extra places that early career doctors in England can apply for in order to train in the area of medicine they have chosen to specialise in. Continue reading...

Meanwhile, the Lib Dems’ Gentleman Ed rips into Starmer for staying silent on The Donald’s US security strategy With little more than a week to go until the Christmas recess, the Commons is in festive overdrive. Demob happy. A few minutes in to the year’s penultimate prime minister’s questions with MPs from both sides shouting and cheering, the speaker interrupted proceedings to say: “We don’t need the panto auditions any more.” To which the natural response was: “Ooh yes we do.” Because that’s pretty much the whole purpose of PMQs at the best of times. A feelgood experience for some. A

Roy Marsh, 86, says the penalty from enforcement officers was ‘unnecessary and all out of proportion’ A man has claimed he was fined £250 for spitting after a leaf blew into his mouth in Lincolnshire. Roy Marsh, 86, was given the financial penalty after the incident in Skegness earlier this year. He is now calling for “responsible” litter enforcement. Continue reading...

Government plans for Crowborough training camp in east Sussex will be challenged in high court A legal challenge against government plans to move hundreds of asylum seekers into a military camp in east Sussex has been launched in the high court. This is thought to be the first challenge against a mass accommodation site for asylum seekers to reach the high court since Labour came to power. Continue reading...

Trump says Colombian president ‘is going to have big problems if he doesn’t wise up’ as US makes major escalation in ongoing pressure campaign against Nicolás Maduro * Full report – US forces seize oil tanker off Venezuela coast House speaker Mike Johnson said today that he has yet to see the video of the boat strike that has been the subject of intense scrutiny and accusations of war crimes. The Republican speaker said he missed the classified briefing with Hegseth and Rubio this week because he was working with House GOP lawmakers on their emerging health care proposals. Continue reading...

Funds for contract signed with Daedalus Aviation will come from $170bn allocated for Trump’s border policy The Department of Homeland Security has signed a nearly $140m contract to purchase six Boeing 737 planes for deportation operations. The contract, signed with the Virginia-based firm Daedalus Aviation, was first reported by the Washington Post on Wednesday and later confirmed by DHS. Continue reading...

The US president praised an autocrat, said Europe should ‘send back’ asylum seekers and compared Ukraine’s leader to a conman * This was originally published in This Week in Trumpland; sign up to receive it in your inbox every Wednesday Donald Trump may not have won a Nobel peace prize, but last weekend he was at least given something: the inaugural Fifa peace prize. The Fifa prize’s existence was announced remarkably soon after the Nobel went to Venezuelan opposition leader, María Corina Machado. Gianni Infantino, the controversial Fifa president, has been toadying to Trump for years, so after he introduced the prize

Move is major escalation of US pressure campaign against South American country’s dictator, Nicolás Maduro * US politics live – latest updates US forces have seized an oil tanker off the coast of Venezuela, in a major escalation of Donald Trump’s four-month pressure campaign against the South American country’s dictator, Nicolás Maduro. The US president confirmed the operation on Wednesday, telling reporters: “We’ve just seized a tanker on the coast of Venezuela - a large tanker, very large, the largest one ever seized actually. And other things are happening so you will be seeing that later and you will be talking about

Divisive vote to lower rates highlights uncertainty in the Fed as economy absorbs major shakeups, including tariffs The US Federal Reserve announced on Wednesday that it was cutting interest rates by a quarter point for the third time this year, as the embattled central bank appeared split over how best to manage the US economy. The Fed chair, Jerome Powell, has emphasized unity within the Federal Open Market Committee (FOMC), the board of Fed leaders that sets interest rates. But the nine-to-three vote to lower rates to a range of 3.5% to 3.75% was divisive among the committee that tends to vote

A federal judge in California on Wednesday ordered an end to Donald Trump’s deployment of National Guard troops to Los Angeles and directed that they be returned to the control of the state’s Democratic governor, finding that the Republican US president had exceeded his authority. The ruling by San Francisco-based US District Judge Charles Breyer represented the latest legal setback for Trump in his efforts to deploy National Guard troops to Democratic-controlled cities, an extraordinary use of...

Scientists announced on Wednesday that they had discovered evidence in the UK of humans deliberately making fire 400,000 years ago, dramatically pushing back the timeline for when our ancient relatives are known to have mastered this crucial skill. Learning to light our own fires was one of the great turning points in human history, offering our ancestors warmth, a place to socialise and a way to cook food – which helped us evolve our unusually big brains. There are signs that humans were using...

Mexico’s lower house early Wednesday approved tariffs of up to 50 per cent next year on imports from China and several other Asian countries, aiming to boost domestic production and address trade imbalances. With 281 votes in favour, 24 against, and 149 abstentions, the chamber passed the bill, which still requires Senate approval, despite opposition from China and local business groups. The proposal would impose or raise tariffs – mostly up to 35 per cent – throughout 2026 on goods such as...

Secret grand jury transcripts from Jeffrey Epstein’s 2019 sex trafficking case can be made public, a judge ruled on Wednesday, joining two other judges in granting the Justice Department’s requests to unseal material from investigations into the late financier’s sexual abuse. US District Judge Richard M. Berman reversed his earlier decision to keep the material under wraps, citing a new law that requires the government to open its files on Epstein and his long-time confidant Ghislaine...

The thieves who stole crown jewels from the Louvre in October evaded police with just 30 seconds to spare due to avoidable security failures at the Paris museum, a damning investigation revealed on Wednesday. The investigation, ordered by the culture ministry after the embarrassing daylight heist, revealed that only one of two security cameras was working near the site where the intruders broke in on the morning of Sunday, October 19. Agents in the security control room did not have enough...

British author Sophie Kinsella, who wrote the popular Shopaholic series, has died aged 55 after being diagnosed with brain cancer, her family announced on Wednesday. Madeleine Sophie Wickham, who wrote under the pen name Sophie Kinsella, revealed last year that she was receiving chemotherapy and radiotherapy for glioblastoma, an aggressive form of brain cancer. “We are heartbroken to announce the passing this morning of our beloved Sophie,” her family said on Instagram. “Sophie counted herself...

China’s flagship sovereign wealth fund has revealed that it opened a representative office in London shortly after Donald Trump’s victory in last year’s US presidential election, a move made amid increased scrutiny of Chinese investments in the United States. The London office was officially registered in December 2024, with the mission of “advancing the company’s overseas investment business” and “promoting cross-border investment cooperation”, China Investment Corporation (CIC) said in its...

The administration of US President Donald Trump plans to order visa-exempt foreign tourists to disclose their social media histories from the last five years before entering the country, according to an official notice. The proposal laid out in a notice published on Tuesday in the Federal Register would apply to visitors from 42 countries, including Britain, France, Australia and Japan, who do not need a visa to enter the United States. Currently, those travellers only need to apply for a waiver...

Democracies must be prepared to fight for freedom to survive, Nobel Peace Prize laureate Maria Corina Machado said on Wednesday, in a speech delivered by her daughter during a ceremony Machado could not attend. The Venezuelan opposition leader said that the prize held profound significance, not only for her country but for the world. “It reminds the world that democracy is essential to peace,” she said, via her daughter Ana Corina Sosa Machado. “And the most important lesson Venezuelans can...

At least 22 people were killed late on Tuesday after two buildings collapsed in Fez, one of Morocco’s oldest cities and a key tourist destination, with the state broadcaster saying the blocks had shown signs of cracking. Local authorities in Fez prefecture reported two adjacent four-storey buildings had collapsed overnight, state news agency MAP said. The buildings were inhabited by eight families and were in the Al-Mustaqbal neighbourhood, a densely populated area in the west of the city, it...

The body of the last Thai national held hostage in Gaza since the October 7, 2023 attack on Israel was returned home on Wednesday, Thailand’s foreign ministry said. The remains of Sudthisak Rinthalak arrived at Bangkok’s Suvarnabhumi Airport from Tel Aviv, ministry official Jeerasak Pomsuwan said more than two years after the attack by the Palestinian militant group Hamas. Sudthisak was 43 and working in agriculture in southern Israel when he was killed on the day of the Hamas attack. His body...

French President Emmanuel Macron’s three-day visit to China last week signals a recalibration in how China and Europe engage at a moment when technological competition, trade disputes, climate imperatives and geopolitical fragmentation threaten global stability. Macron met enthusiastic students at Sichuan University; French first lady Brigitte Macron visited the Chengdu Research Base of Giant Panda Breeding. The trip fostered economic collaboration between the two countries and deliberately...

After more than a decade of false starts, India and the European Union appear closer than ever to clinching a free-trade agreement, buoyed by renewed political will and converging economic interests despite lingering tensions over carbon taxes and Russia. Analysts say the breakthrough may be near following a fresh round of high-level talks in New Delhi that injected new urgency into negotiations that have been stuck in procedural drift for years. Both sides are seeking to secure supply chains...

There are few truly global hubs in the world. London is one. New York is another. But neither of them connect East and West quite like Hong Kong. I visited the city last week as part of the inaugural UK Investment Conference and saw first-hand the energy and resilience that define this city. That makes the recent tragedy in Tai Po all the more heartbreaking. My message to the people of Hong Kong after this deadly fire is this: we offer our profound sympathy to all those whose lives and...

US Secretary of State Marco Rubio on Tuesday ordered diplomats to return to using Times New Roman font in official communications, calling his predecessor Antony Blinken’s decision to adopt Calibri a “wasteful” diversity move, according to an internal department cable seen by Reuters. The department under Blinken in early January 2023 had switched to Calibri, a modern sans-serif font, saying this was a more accessible font for people with disabilities because it did not have the decorative...

Lithuania’s government has declared a national emergency over security risks posed by meteorological balloons sent from Russia-allied Belarus that have violated its airspace in recent weeks, while the Belarusian leader called for negotiations on border tensions and said his country “does not need war”. The balloons forced Lithuania to repeatedly shut down its main airport, stranding thousands of people, as Europe remains on alert over previous intrusions into Nato airspace during the war in...

US President Donald Trump tried to reassure Americans that the US economy was healthy at a campaign-style rally on Tuesday as Republicans braced for a tough fight to hold control of Congress in next year’s midterm elections. Speaking at a Mount Pocono casino in northeastern Pennsylvania, Trump argued that his economic policies, including his imposition of widespread tariffs on imports, were creating jobs, boosting the stock market and attracting increased investment into the United States. “I...

Honduran President Xiomara Castro on Tuesday denounced what she called an “electoral coup” unfolding amid a chaotic vote count from the November 30 presidential election, as hundreds of protesters gathered in the streets of the capital Tegucigalpa to demand clarity over the situation. The election has been marked by technical failures, unsubstantiated fraud claims and a shadow cast by US President Donald Trump, who has threatened to withdraw funding for the Central American nation if his...

A new report recommends European companies avoid an overreliance on China or the US in their supply chains, as companies find themselves squeezed between Beijing’s preferential policies for local companies and Washington’s trade volatility. The European Union Chamber of Commerce in China advised companies to “eliminate single-source dependencies on both China and the United States where possible” in its “Dealing with Supply Chain Dependencies” report released on Wednesday. “We are probably only...

The global artificial intelligence community’s attention was recently focused on DeepSeek’s latest open-source model, Math-V2, the first open-source AI model to score a gold medal-level performance at the International Mathematical Olympiad. But while California might hone in on the test scores, Jakarta and Nairobi are looking at something else entirely. For the Global South, the critical question is more likely to be whether that reasoning capability can optimise fertiliser distribution in a...

Lawmakers from both parties are warning that Chinese criminal groups have helped build what officials call a “Silk Road of crime”, a global network that launders Latin American cartel profits and supplies the chemicals used to make fentanyl bound for the United States. At a Senate hearing on Tuesday, members of the Caucus on International Narcotics Control said Chinese money brokers and Latin American cartels have merged their operations into a system that blurs the line between trade and...

Britain announced sanctions against Russian media and ideas outlets on Tuesday as the UKs top diplomat warned Western nations must raise their game to combat information warfare from “malign foreign states”. Foreign Secretary Yvette Cooper said the UK was imposing sanctions on the microblogging Telegram channel Rybar and its co-owner Mikhail Sergeevich Zvinchuk, as well as the Centre for Geopolitical Expertise and the Foundation for the Support and Protection of the Rights of Compatriots Living...

Scotland’s Nnena Kalu took home the Turner Prize on Tuesday, with the autistic artist beating four competitors including an Iraqi painter to the prestigious contemporary art award. Glasgow-born Kalu, 59, was nominated for her hanging sculptures using wrapped material, including fabric, rope and tape, with the British disability charity Sense hailing her shortlisting as “incredibly significant”. The jury of the prize, established in 1984 to celebrate contemporary British art, hailed Kalu’s art as...

Don’t bring a knife to a gunfight, they say. Alas, the Dutch government has been a slow learner. No matter, the Nexperia debacle has shown how some European states have been too compliant with the United States and defiant with China. They don’t seem to realise they are little better than pawns in US President Donald Trump’s America. “Model allies that step up … will receive our special favour,” US Defence Secretary Pete Hegseth declared at the 2025 Reagan National Defence Forum in California...

US President Donald Trump’s administration is threatening to pull federal funding for public transport in Chicago unless the city tightens security after a man allegedly set a woman on fire inside a commuter train in November. Governor J.B. Pritzker’s office said in an email on Tuesday that Trump is politicising “a heinous tragedy” while doing nothing to make Illinois communities safer. Federal Transit Authority Administrator Marc Molinaro sent a letter on Monday to Pritzker and Mayor Brandon...

A member of the British armed forces died in Ukraine on Tuesday while observing Ukrainian forces test a new defensive capability, Britain’s Ministry of Defence said, adding that the accident had occurred away from the front lines. “It is with deep regret that we must announce that a member of the UK Armed Forces died in Ukraine this morning,” the Ministry of Defence said. It marked the first time a member of the UK military had been killed in Ukraine since Russia’s February 2022 invasion, it...

The father of late British singer Amy Winehouse on Tuesday defended his UK lawsuit against two of her friends after they sold some of her clothes at auction for around £730,000 (US$970,000). Mitch Winehouse told the High Court in London that Naomi Parry, the star’s former stylist, and her friend, Catriona Gourlay, did not have the right to sell dozens of items in auctions between November 2021 and May 2023. Lawyer Henry Legge, acting for Winehouse, told the court on Monday, the first day of the...

US President Donald Trump blasted Europe as “decaying” and “weak” on immigration and Ukraine in an interview published Tuesday, deepening a rift between the United States and some of its oldest allies. Speaking to Politico, Trump also called on war-battered Ukraine’s President Volodymyr Zelensky to hold elections despite Russia’s invasion and said that Moscow had the “upper hand”. Trump’s comments doubled down on extraordinary criticism of top US partners in his administration’s new national...

Venezuelan opposition leader Maria Corina Machado will not receive the Nobel Peace Prize in person at Wednesday’s award ceremony in Oslo, the director of the Norwegian Nobel Institute said on Wednesday, with her current whereabouts unknown. Machado, 58, was due to receive the award at a ceremony at Oslo City Hall in the presence of King Harald, Queen Sonja and Latin American leaders including Argentine President Javier Milei and Ecuadorian President Daniel Noboa. The ceremony starts at 1pm (8pm...

The US Justice Department can publicly release investigative materials from a sex trafficking case against Ghislaine Maxwell, the long-time confidant of Jeffrey Epstein, a federal judge said on Tuesday. Judge Paul A. Engelmayer ruled after the Justice Department in November asked two judges in New York to unseal grand jury transcripts and exhibits from Maxwell and Epstein’s cases, along with investigative materials that could amount to hundreds or thousands of previously unreleased...

Last week’s release of the 2025 US National Security Strategy (NSS) was not a routine recalibration of diplomatic lines – it was a rupture. It represented the most explicit declaration to date that the United States no longer regards Europe as a partner in a shared transatlantic project but as a challenge to be managed, a continent to be reshaped and a strategic liability to be mitigated. The Trump administration has accused entire nations and supranational institutions of steering the continent...

Russia on Tuesday said there were no survivors in a military plane crash east of Moscow, with state media reporting earlier there were seven people on board. The country’s Investigative Committee, which is responsible for probing major crimes, said it had opened an investigation into flight preparation rules. “On December 9, 2025, during a test flight, an An-22 aircraft crashed near the village of Ivankovo in the Ivanovo region,” the committee said. “All crew members on board were killed.” It...

Andrej Babis, a billionaire supporter of US President Donald Trump, returned to power as Czech prime minister on Tuesday, signalling a possible end to Ukraine aid and potentially rockier ties with the European Union. Babis’s ANO movement, which won the October parliamentary elections, teamed up with two Eurosceptic parties to form a coalition government. In its policy statement, the coalition said the EU had “its limits” and no right to impose decisions infringing on the sovereignty of member...

Whereas then US president Joe Biden initially missed the group photo at the annual Group of 20 summit in Rio de Janeiro last year, requiring a reshoot, his successor did not even bother showing up for this year’s meeting in Johannesburg. US President Donald Trump boycotted the summit due to alleged mistreatment of white people in post-apartheid South Africa. Yet, even in the absence of the US, the G20 managed to make a leaders’ declaration at the start of the summit, which usually comes at the...

Reporters Without Borders said on Tuesday that Israel was responsible for nearly half of all journalists killed this year worldwide, with 29 Palestinian reporters slain by its forces in Gaza. In its annual report, the Paris-based media freedom group said the total number of journalists killed reached 67 globally this year, slightly up from the 66 killed in 2024. Israeli forces accounted for 43 per cent of the total, making them “the worst enemy of journalists”, RSF said in its report, which...

Three days after the US government codified its contempt for EU institutions in a startling new national security policy, the bloc’s leaders finally broke their silence on Monday, with European Council President Antonio Costa lambasting Washington’s “threat to interfere in Europe’s political life”. “The United States no longer believes in multilateralism, nor even in a rules-based international order. They speak of the so-called rules-based international order, and they say climate change is a...

A short-lived coup in Benin left “casualties on both sides” of the government forces and the mutinous soldiers, authorities said on Monday, as security forces intensified the search for the coup leader who was on the run. The military takeover attempting to overthrow President Patrice Talon, which lasted a few hours before authorities announced it had been foiled, was the latest in a series of recent coups across Africa - most following a similar pattern of disputed elections, constitutional...

A just-signed agreement aimed at ending the conflict in the Democratic Republic of Congo looked to be unravelling on Monday with the Congolese leader and Burundi slamming neighbouring Rwanda after the Rwanda-backed M23 armed group attacked border areas. DR Congo President Felix Tshisekedi accused Rwanda of “violating” the accord - signed only last Thursday in Washington at the urging of US President Donald Trump - as the M23 made a rapid advance to threaten the city of Uvira near the border with...

A powerful wave dragged a group of swimmers out to sea while they were in a popular seawater pool along the rocky, western coastline of the Spanish island of Tenerife, leaving four died and one missing, Spanish authorities said Monday. Crews recovered three bodies on Sunday - a 35-year-old man, a 55-year-old woman and another man - during a major rescue operation that used jet skis and helicopters to locate and pick up all those dragged out to sea. The fourth, a woman, died on Monday, a day...

For decades, New York and London have defined the flow of global capital. But while markets still chase short-term returns in US equities, the next great wave of productive investment is taking shape in East Asia, led by China’s financing, manufacturing and export of the clean technologies that are remaking the global economy. That contrast has only widened. As the United States retreats from climate leadership, China has doubled down. A day after US President Donald Trump called climate change...

Ukraine’s European allies put on a show of support for President Volodymyr Zelensky on Monday as they expressed scepticism about parts of the US proposal to end Russia’s nearly four-year invasion. Zelensky first held a meeting in London with the leaders of Britain, France and Germany before heading to Brussels later Monday for talks with the heads of the EU and of Nato. Afterwards, he was to fly to Rome for a meeting Tuesday with the Italian prime minister. The discussions came after US...

The developer of the most popular app used to share information about sightings of federal immigration agents sued the Trump administration on Monday, alleging free speech violations after Apple removed ICEBlock from its online store. The lawsuit was filed in federal court by Joshua Aaron, the developer of the ICEBlock app that had over 1 million users before it was removed by Apple in October following pressure from the Trump administration, a rare instance of a tech company removing an app...

US President Donald Trump said on Monday that the US will allow Nvidia to ship its H200 artificial intelligence chips to approved customers in China, marking the latest lobbying win for the American chip company. The decision follows weeks of deliberations by the Trump administration about whether to grant permission to ship the H200 to China. It comes days after Nvidia Chief Executive Officer Jensen Huang met with Trump in Washington to discuss US export controls. “I have informed President Xi,...

More than six decades after British historian AJP Taylor termed war the “mother of invention”, economies around the world appear to be ramping up their military spending, at least in part, to reinvigorate industrial production. Taylor was referring to the genesis of the tank, the aeroplane and poison gas in World War I, and that of radar, the jet engine and the atomic bomb in World War II. More modern examples, such as satellite-based navigation systems and the internet, were the products of the...

The US Federal Communications Commission (FCC) said on Monday it may bar three major Chinese telecoms companies from connecting to US networks over efforts to prevent robocalls, the latest in a series of actions Washington has taken against Beijing. The FCC issued orders saying China Mobile, China Telecom and China Unicom must address issues with their certifications in the agency’s robocall mitigation database, and raised concerns about their presence in the database. If the FCC removes them,...

Some Republicans in the Indiana Senate have resisted a new congressional map despite lobbying from the White House and threats of political consequences.

In the 1970s, she photographed Andy Warhol and Debbie Harry on wild nights at Studio 54. Now she’s chronicling a new generation.

The Office of Government Ethics told senators that Bryan Bedford, the F.A.A. administrator, did not divest from the airline he previously ran as he had agreed.

The ruling could lead to the most expansive look yet at the federal investigation of the convicted sex offender Jeffrey Epstein.

President Trump’s unusual decision to involve himself in the government’s review of the deal puts pressure on his antitrust chief.

A draft memo from the E.P.A. assumes a safe threshold exists for formaldehyde, upending earlier findings that there is no safe level of exposure to the carcinogen.

The school has been brought to heel by conservative critics of higher education. It is part of a broader transformation at the state’s universities.

FEMA rejected requests for federal assistance, twice, after devastating floods in western Maryland, part of a larger pattern of making communities pay for their own disaster recovery.

Surro Connections held itself out as a reliable business. Now, clients have lost as much as tens of thousands of dollars meant to compensate women carrying their pregnancies.

Investigators said that a security camera recorded thieves preparing to burgle the Louvre. The museum’s director said previously that the camera was facing the wrong way.

In the Ozarks, the growing college town of Fayetteville, Ark., is using clean energy to power city facilities and embracing nature-based solutions to climate threats.

The Southern Transitional Council has seized control of parts of Yemen over the past week, with ambitions to create a “south Arabian state.”

The government faces a dilemma over what to do with civil-war-era prisons and detention camps that hold thousands of ISIS fighters and tens of thousands of their family members.

Lea Michele’s star turn in “Chess.” Kara Young as an 8-year-old. A 12-minute monologue delivered from a cloud. These are our favorite scenes from this year.

Writing under a pseudonym, Madeleine Wickham cultivated an international following for her series centered on a young woman addicted to shopping.

Sophie Kinsella, the author of “Confessions of a Shopaholic,” packs love, laughter and a harrowing real-life health ordeal into a 133-page novella.

Through their reporting, M. Gessen and Michelle Goldberg share how regular citizens stand up to their governments in times of democratic free fall.

A Colorado museum cited state law while rejecting an artwork with unflattering depictions of politicians. Free speech groups called the decision censorship.

The actor, 60, was struck by a vehicle in Midtown Manhattan late on Monday, her agent and the police said.

Members of Congress expressed concerns that the Army dismissed complaints about the doctor, who was accused of secretly recording patients at Fort Hood in Texas.

The illuminated manuscript, confiscated from the Rothschild banking dynasty during the Holocaust, is expected to draw at least $5 million.