The students arrived at the government house in Niger’s capital Minna and were handed over to the state governor

International News via Reuters:

Nigeria’s government on Monday rescued 100 schoolchildren abducted last month from a Catholic school in Niger state, in one of the country’s biggest mass kidnappings in recent years. 

The students arrived at the government house in Niger’s capital Minna and were handed over to the state governor.

President Bola Tinubu welcomed the rescue.

“My directive to our security forces remains that all the students and other abducted Nigerians across the country must be rescued and brought back home safely. We must account for all the victims,” he said.

Tinubu and Nigerian government officials did not comment publicly on how the rescue was conducted, and it was unclear whether the children had been freed through negotiations, ransom payments or a security operation.

One of the children, Florence Michael, said the children slept on a tarpaulin in the forest.

“They gave us tarpaulin, that we should put it down, that we should lie down and sleep, that we should not make noise for them,” she said.

The Christian Association of Nigeria (CAN) said gunmen seized more than 300 pupils and 12 staff from St Mary’s Catholic School in Papiri village on Nov. 21. Fifty of the children managed to escape, CAN said.

PARENTS ANGUISH AT LACK OF INFORMATION

After news of the rescue, many parents expressed anguish at the lack of information from authorities on whether their children were among those freed.

Some of the abducted children were as young as six. 

“I just saw the news on social media,” said Yunusa Kabukaya, whose 11-year-old daughter Magret was among more than 300 pupils and 12 staff seized from St Mary’s Catholic School in Papiri village on November 21. 

“Nobody has contacted me, but I’m desperate to know if my daughter is among the rescued students.”

‘CHILDREN SHOULD NOT BE SITTING DUCKS FOR TERRORISTS’

The abduction caused outrage over worsening insecurity in northern Nigeria, where armed gangs frequently target schools for ransom. School kidnappings surged after Boko Haram militants abducted 276 girls from Chibok in 2014.

Tinubu said security forces should prevent future abductions, which have forced hundreds of schools to close in northern Nigeria.

“Our children should no longer be sitting ducks for heartless terrorists intent on disrupting their education and subjecting them and their parents to unspeakable trauma,” said Tinubu.

NIGERIA AND U.S. TO CREATE JOINT TASK FORCE 

A U.S. congressional delegation was in Nigeria on Monday meeting government and church leaders, after U.S. President Donald Trump last month threatened military action over the treatment of Christians in the country. 

Welcoming the children’s rescue, Congressman Riley Moore said the talks had focused on steps to enhance security in the West African country and that a joint Nigeria-U.S. task force would be created.

“I want to thank National Security Advisor Nuhu Ribadu for a productive and positive conversation,” Moore said on X. 

He said concrete steps and actions had been discussed, which he believed could destroy “terrorist organisations” in northeast Nigeria and “stop the killing of Christians.”

The rescue of the 100 schoolchildren was “a positive demonstration of the government’s increasing response to the security situation”, he said, citing the creation of the joint task force as an example of growing cooperation. 

“There is much work still to be done, but things are moving in the right direction,” he said.

Reporting by Ahmed Kingimi; Additional reporting by Ben Ezeamalu in Lagos Writing by Elisha Bala-Gbogbo and Chijioke Ohuocha; Editing by Toby Chopra, Hugh Lawson, Timothy Heritage and Nick Zieminski

With each side blaming the other for starting Monday’s renewed clashes, it was unclear how or if a fragile ceasefire brokered by U.S. President Donald Trump in July could be salvaged

International News via Reuters:

Fighting between Cambodia and Thailand escalated along their contested border on Tuesday, as the Southeast Asian neighbours both said they would not back down in defending their sovereignty.

With each side blaming the other for starting Monday’s renewed clashes, it was unclear how or if a fragile ceasefire brokered by U.S. President Donald Trump in July could be salvaged.

Cambodia’s influential former leader Hun Sen said his country waited 24 hours to honour the ceasefire and allow for evacuations before launching counterattacks overnight against Thai forces.

“Cambodia needs peace, but Cambodia is compelled to counterattack to defend our territory,” he said in a Facebook post, saying strong bunkers and weapons gave Cambodian forces the advantage in defending against an “invading enemy”.

In Thailand, military officials said there were clashes in five border provinces, and a Navy-led operation in its Trat Province to expel Cambodian soldiers was expected to end soon. They said Cambodia was using artillery, rocket launchers, and bomb-dropping drones to attack Thai forces.

“Thailand is determined to defend its sovereignty and territorial integrity and therefore military measures must be taken as necessary,” Defence Ministry spokesperson Rear Admiral Surasant Kongsiri told the media briefing where other military officials also spoke.

Cambodia’s Defence Ministry accused Thailand of “brutal and unlawful actions”, saying nine civilians were killed since Monday and 20 seriously injured. Thai officials said three soldiers had died in the fighting and 29 people had been injured.

Cambodian Prime Minister Hun Manet, Hun Sen’s son, said late on Monday that Thailand “must not use military force to attack civilian villages under the pretext of reclaiming its sovereignty”.

Both countries said they had evacuated hundreds of thousands of people from border areas.

Tensions have simmered since Thailand last month suspended de-escalation measures that were agreed at a summit overseen by Trump, after a Thai soldier was maimed by a landmine that Bangkok said Cambodia had recently laid.

Monday’s clashes were the fiercest since a five-day exchange of rockets and heavy artillery in July, when at least 48 people were killed and 300,000 displaced, before Trump intervened to broker a ceasefire.

In May, tensions rose following the killing of a Cambodian soldier during a skirmish, which led to a major troop buildup at the border and escalated into diplomatic breakdowns and armed clashes.

Thailand has superior military capabilities, with armed forces that dwarf its neighbour in terms of personnel, budget and weaponry, and fighter jets that have been carrying out air strikes to support its ground forces.

Thailand and Cambodia have for more than a century contested sovereignty at undemarcated points along their 817-km (508-mile) land border, with disputes over ancient temples stirring nationalist fervour and occasional armed flare-ups, including a deadly week-long artillery exchange in 2011.

Reporting by Reuters staff; Writing by John Mair; Editing by Michael Perry

Brent crude futures were down 7 cents, or 0.1%, to $62.42 a barrel at 0717 GMT. U.S. West Texas Intermediate crude was at $58.75, down 13 cents, or 0.2%

International News via Reuters:

Oil prices edged down on Tuesday, extending losses from the 2% drop in the previous session, with markets keeping a close eye on peace talks to end Russia’s war in Ukraine, concerns about ample supply and a looming decision on U.S. interest rates.

Brent crude futures were down 7 cents, or 0.1%, to $62.42 a barrel at 0717 GMT. U.S. West Texas Intermediate crude was at $58.75, down 13 cents, or 0.2%.

Both contracts fell by more than $1 a barrel on Monday after Iraq restored production at Lukoil’s West Qurna 2 oilfield, one of the world’s largest.

Ukraine will share a revised peace plan with the U.S. after talks in London between its President Volodymyr Zelenskiy and the leaders of France, Germany and Britain.

“Oil is keeping to a tight trading range until we get a better idea of which way the peace talks will go,” KCM Trade chief market analyst Tim Waterer said.

“If the talks break down, we expect oil to move higher, or if progress is made, and there is a likelihood of Russian supply to the global energy market resuming, prices would be expected to drop,” he added.

According to sources familiar with the matter, the Group of Seven countries and the European Union are in talks to replace a price cap on Russian oil exports with a full maritime services ban in a bid to reduce Russia’s oil revenue.

Some analysts were watching for clues on supply in the next International Energy Agency report.

“The next (market) driver is likely to be the IEA monthly oil market report for December, released on 11 December, which it has predicted a record surplus in the oil market in 2026, highlighted in previous outlook reports,” said OANDA senior market analyst Kelvin Wong.

If the IEA continues to flag surplus risk in the oil market in its December report, WTI crude could drift downwards to test the range support zone at $56.80 to $57.50 a barrel, he added.

Also on the radar is the Federal Reserve’s policy decision due on Wednesday, with markets pricing in an 87% probability of a quarter-point rate reduction.

Lower interest rates typically are a positive driver for oil demand given the decrease in borrowing costs, though some analysts were cautious about how much impact this could have on oil prices for now.

“Although markets are largely invested in upcoming FED policy decision on Wednesday for a possible 25bp cut, something that could lend short-term support at the lower end of the $60–65 band, the broader price structure remains anchored by expectations of an oversupplied 2026 (oil market),” said Phillip Nova’s senior market analyst Priyanka Sachdeva.

Reporting by Ashitha Shivaprasad in Bengaluru and Trixie Yap in Singapore; Editing by Thomas Derpinghaus and Jamie Freed

The EU executive is set to unveil a series of proposals on December 16 that could give the European auto sector more flexibility in meeting CO2 emissions targets

International News via Reuters:

Carmakers BMW and Toyota and auto rental and leasing firms from across Europe urged the European Commission on Monday not to set mandatory targets for electric vehicle purchases for corporate fleets, arguing it would be cripplingly expensive and counter-productive.

The EU executive is set to unveil a series of proposals on December 16 that could give the European auto sector more flexibility in meeting CO2 emissions targets as well as easing an effective ban on new sales of internal combustion engine cars in 2035.

The package will also include plans for corporate fleets, such as company cars, which make up some 50-60% of new car sales in the EU.

In a letter to the European Commission President Ursula von der Leyen and other commissioners, the 67 signatories said the main obstacles to the uptake of EVs were purchase and operating costs and insufficient charging infrastructure.

The letter said a mandatory target would be “highly damaging”, and that the high cost would leave companies with two options – retaining older vehicles for longer, or reducing new vehicle purchases.

It said instead that the recipe for success in European countries with the fastest EV update was a combination of incentives and investment in charging infrastructure.

Incentives were also needed for the second-hand EV market, given many leased cars are often resold after two or three years.

Signatories included BNP Paribas’ vehicle leasing company Arval, Societe Generale’s Ayvens, Avis, Bolt and Hertz and some national rental and leasing associations.

By contrast, campaign association Climate Group supports a mandated target and points to more than 120 companies committed to 100% electric fleets, such as EDF, Ikea, Siemens and Unilever. 

The EU’s automotive package, publication of which has been delayed by a week, has been subject to frenetic lobbying.

Reporting by Philip Blenkinsop; Editing by Jan Harvey

The death toll from the cyclone-induced floods and landslides reached 950 as of Monday, with 274 people still missing, according to official data

International News via Reuters:

Indonesia’s Sumatra island will require 51.82 trillion rupiah ($3.11 billion) in reconstruction and recovery funds following a series of deadly floods, senior government officials said.

The death toll from the cyclone-induced floods and landslides reached 950 as of Monday, with 274 people still missing, according to official data. The storms also killed about 200 people in southern Thailand and Malaysia.

Suharyanto, head of Indonesia’s disaster mitigation agency, said that the recovery funds needed across the three provinces of Aceh, North Sumatra, and West Sumatra may still increase as the agency continues to calculate how much damage has been done.

Among the three provinces affected, Aceh needs the most funds, amounting to a total of 25.41 trillion rupiah, Suharyanto said at a cabinet meeting led by President Prabowo Subianto in Aceh province late on Sunday.

North Sumatra and West Sumatra will require 12.88 trillion and 13.52 trillion rupiah respectively, he added.

The reconstruction process will soon begin in some areas in North Sumatra and West Sumatra, which have recovered relatively well, he said.

“So, areas that are already in better condition can start the reconstruction process. We will relocate people living in evacuation centres to temporary houses,” Suharyanto said without providing a timeline.

The temporary houses are 40 square-metre plywood structures built by the government for people affected by natural disasters.

“In the next phase, they will be relocated into permanent houses, built by the housing ministry,” he added.

Responding to the initial estimated recovery cost, Prabowo said his calculations were “similar”, without elaborating whether he will approve the spending or not.

“The point is we have the capacity and we will do it meticulously and do our best to manage it,” Prabowo said.

Prabowo also said that conditions in some areas remained serious, with rice fields, dams and a large number of houses especially affected.

“The local leaders reported that there are quite a number of houses that we must help rebuild,” he said.

“In some places, there are still challenges,” he said, adding that the distribution of medication and clothes to the residents must also become a priority.

($1 = 16,680 rupiah)

Reporting by Ananda Teresia; Editing by David Stanway

Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery’s TV, film studios and streaming assets

International News via Reuters:

Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant.

Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery’s TV, film studios and streaming assets. But Paramount’s latest attempt means the jockeying for Warner Bros and its prized HBO and DC Comics assets will not come to a conclusion swiftly. 

Paramount’s $30-per-share cash offer includes financing from Affinity Partners, the investment firm run by Jared Kushner, U.S. President Donald Trump’s son-in-law, and several Middle Eastern government-run investment funds, and is backstopped by the Ellison family. Larry Ellison, the world’s second-richest person, is the father of Paramount head David Ellison and has close ties to the White House. 

The studio argues its bid for the entirety of Warner Bros Discovery is superior to Netflix, giving shareholders $18 billion more in cash and an easier path to regulatory approval. It also argued that a Paramount-Warner Bros combination, which would be among the largest media deals in history, would be in the best interest of the creative community, movie theaters and consumers, who would benefit from enhanced competition. 

“We believe our offer will create a stronger Hollywood,” Paramount CEO David Ellison said in a statement.  

Paramount’s bid includes Warner Bros Discovery’s cable television properties; Netflix’s bid is limited to the Warner Bros film and television studios, HBO and the HBO Max streaming service.

Analysts noted that Paramount’s offer comes with its own antitrust scrutiny as a consolidation of two major television operators. Last month, Democratic senators warned that such a transaction would result in “one company controlling almost everything Americans watch on TV.” The combined studio would also have a greater market share than current leader Walt Disney Co, and add to fears of consolidation that have hit the industry hard in recent years. 

The offer represents a 139% premium over the company’s undisturbed stock price, and bests Netflix’s $27.75 offer that mixes cash and stock.

KUSHNER, SAUDIS PART OF PARAMOUNT OFFER

Warner Bros Discovery and Netflix did not immediately respond to requests for comment on Paramount’s deal.

In a regulatory filing, Paramount said that the Ellison family, which owns Paramount, along with private equity firm RedBird Capital, had agreed to backstop $40.7 billion in equity capital. The offer also includes financing from Kushner’s Affinity Partners, the Saudi and Qatari sovereign wealth funds, and L’imad Holding Co, owned by the government of Abu Dhabi.

Netflix’s offer comes with a $5.8 billion break-up fee and was likely to face strong antitrust scrutiny; U.S. President Donald Trump raised questions about the offer over the weekend. The bid has already drawn sharp criticism from bipartisan lawmakers and Hollywood unions over concerns that it could lead to job cuts as well as higher prices for consumers.

“While it is perhaps a sad commentary on the U.S. that Paramount thinks its closeness to the occupant of the Oval Office will help it seal the deal, it is merely doing what it can to steal a march on its rival,” said Chris Beauchamp, chief market analyst at UK-based IG Group. 

Shares of Paramount were up 10% on Monday. Warner Bros Discovery rose 3.8%, while Netflix shares fell 4.2%.

One company that appears to be out of the running is NBCUniversal parent Comcast, whose president Mike Cavanagh said the company was not interested in taking its balance sheet to “any stressful level” to buy Warner Bros.

TWISTS AND TURNS

Reuters had already reported, citing sources familiar, that Paramount had raised its offer to $30 per share on Thursday for the entire company, but that the Warner Bros board had concerns about the financing. 

Paramount maintained that it would be a champion of Hollywood and its talent, would remain committed to releasing movies in theaters, and that its path to regulatory approval would be faster than Netflix’s.

“Our proposal is superior to Netflix’s in every dimension, higher headline value, increased certainty in that value, greater regulatory certainty, and a pro-Hollywood, pro-consumer and pro-competition future,” said Ellison.

In its appeal to shareholders, Paramount said it submitted six proposals over the course of 12 weeks, but Warner Bros “never engaged meaningfully” with these proposals.

“The Warner Bros Discovery acquisition is far from over,” said eMarketer senior analyst Ross Benes. “Paramount will appeal to shareholders, regulators, and politicians to try to stymie Netflix. The battle could become prolonged.”

Paramount has argued the combination of its Paramount+ streaming service with Warner Bros’ HBO Max would position it for growth, and create a meaningful competitor to Netflix, Amazon Prime Video or Walt Disney’s Disney+. 

‘BIAS AGAINST US’

The company said it had sent a letter to Warner Bros, questioning the sale process and alleging the company has abandoned a fair bidding process and predetermined Netflix as the winner. 

That followed reports that Warner Bros’ management called the Netflix deal a “slam dunk” while speaking negatively about Paramount’s offer. 

In an interview with CNBC on Monday, Paramount CEO David Ellison said there was an “inherent bias” in the bidding.

Bloomberg News has reported Trump met Netflix co-CEO Ted Sarandos in mid-November, telling the executive Warner Bros should sell to the highest bidder. In his CNBC interview Monday, Ellison said he had “great conversations” with Trump, but did not characterize the discussions.

Looking to allay antitrust fears, Sarandos had said the deal would drive value for consumers, shareholders and talent, saying Netflix is “highly confident” in the regulatory process. 

Reporting by Dawn Chmielewski in Los Angeles, Harshita Mary Varghese and Aditya Soni in Bengaluru; Additional reporting by Milana Vinn and Jody Godoy in New York and Jaspreet Singh in Bengaluru; Editing by David Gaffen, Arun Koyyur and Nick Zieminski