Chinese court freezes $300 million of Nexperia assets in Wingtech case
Wingtech was stripped of control of Nexperia last year by the Dutch authorities
International News via Reuters:
A Chinese court has frozen up to 2.14 billion yuan ($300 million) of assets held by Dutch chipmaker Nexperia and its equipment arm, in a case brought by the firm’s Chinese owner, electronics group Wingtech Technology.
Wingtech was stripped of control of Nexperia last year by the Dutch authorities. The dispute has strained relations between China and the Netherlands and threatened global supplies of chips used in cars and consumer electronics.
The Chinese court action gives Wingtech fresh leverage in its effort to regain control of Nexperia, though it does not change the company’s management or resolve the broader ownership fight.
Measures imposed by the court “do not affect the day-to-day operations, management, or business continuity of Nexperia,” Nexperia said in a reaction, noting that the case has not yet been heard on its merits.
The dispute began a year ago when the Dutch government intervened at Netherlands-headquartered Nexperia, citing concerns that technology, funds and production assets could be transferred abroad. A Dutch business court later suspended Nexperia’s chief executive and put voting rights tied to Wingtech’s shareholding under independent management.
China responded with export controls on Nexperia’s China operations, disrupting shipments. After talks between Beijing and The Hague, China agreed to allow supplies to resume and the Netherlands suspended its order.
But Wingtech has not recovered the voting control it lost, leaving the underlying corporate dispute unresolved.
Wingtech sued Nexperia and three executives in May. It alleged the defendants carried out what Wingtech called discriminatory Dutch restrictions, and sought 8 billion yuan in damages.
The Dongguan Intermediate People’s Court ordered the freeze, Wingtech said in a filing. The case has not yet gone to trial.
The order covers Nexperia’s stakes in four China-based businesses, including its semiconductor operations in the Chinese cities of Wuxi and Shanghai as well as its equipment arm’s wholly owned Wuxi unit. The measures took effect between August 20 and August 25, and they run until August 2029.
Reporting by Eduardo Baptista; Additional reporting by Toby Sterling; Editing by Peter Graff and Cynthia Osterman
Leaders gather in Kyrgyzstan for the World Nomad Games
The games’ opening ceremony took place on Sunday on the eve of a summit of the Shanghai Cooperation Organisation on Monday, which the visiting leaders also attended
International News via Reuters:
Leaders including Russian President Vladimir Putin, Indian Prime Minister Narendra Modi and Iranian President Masoud Pezeshkian have arrived in the Kyrgyz capital of Bishkek for the World Nomad Games.
The games’ opening ceremony took place on Sunday on the eve of a summit of the Shanghai Cooperation Organisation on Monday, which the visiting leaders also attended.
Chinese President Xi Jinping attended the summit, but Kyrgyz media said he stayed away from the opening ceremony of the games, citing the flooding and landslides in Tibet.
The World Nomad Games are a cultural and sporting festival centred on traditional nomadic sports, particularly those of the Turkic peoples of Central Asia.
Athletes from 104 countries have registered, organisers said, for the sixth edition of the World Nomad Games, which were founded in 2014.
Events include horseback archery, wrestling and boardgames traditional to nomadic Central Asian cultures. The ceremony featured musical performances and Olympic-style parades by national teams.
Also among those attending the ceremony were Turkish President Tayyip Erdogan, Pakistani Prime Minister Shehbaz Sharif, Kazakh President Kassym-Jomart Tokayev and Belarusian President Alexander Lukashenko.
Reporting by Felix Light and Aigerim Turgunbaeva; editing by Barbara lewis
Bermuda’s Tanner Correia claims commanding victory in U.S.
Eleven-year-old Bermudian karting prospect Tanner Correia produced a composed and commanding drive to take victory at Round 7 of the Trackhouse Motorplex Karting Challenge in North Carolina.
Competing against a 24-strong field of national and club-level racers in Mooresville, Correia laid down an early marker by setting the fastest lap time in free practice.
After subtle chassis adjustments led to a seventh-place qualifying effort, his father and mechanic, Philip Correia, reverted to their baseline setup. The decision paid immediate dividends as the youngster surged through the field to win the pre-final and secure pole for the main event.
Correia controlled the final from the front, executing clinical overtakes to reclaim the lead during heated exchanges and seal the top step of the podium.
Mentored by professional coach AJ Myers over the past two years, Correia now prepares for his fifth Bermuda Karting Association campaign before stepping up to the American KA100 Junior class.
Comet International Championship: Bailey seals world crown
Bermuda’s Rudy Bailey has captured another historic title after being crowned the International Comet Champion following a superb performance off the Corsica River Yacht Club.
Skippering Equalizer, the veteran sailor produced a composed series across the regatta, clinching overall victory with an impressive total of just 12 net points.
Bailey fended off a competitive international fleet to take top spot on the podium ahead of Jessica Gruskos (15 net points) in second and Wick Dudley (17 net points) in third.
Fellow Bermudian competitor Gregory Wade also delivered a solid showing, battling through the fleet to finish 12th overall on 47 net points.
The overseas triumph brings silverware back to the island and puts the spotlight firmly back on Bermuda’s Comet Class, delivering a world-class performance that demands recognition on the domestic stage.
Two dead in Grand Canyon after flash flood, park service says
Heavy rainfall brought surging waters through the canyon on Saturday, destroying trails and footbridges, damaging infrastructure that carries water for use throughout the park, and forcing 62 hikers to be evacuated by helicopter by Sunday morning
International News via Reuters:
One body has been recovered following flash flooding in Grand Canyon National Park over the weekend and recovery operations were underway for a second body on Monday, the National Park Service told Reuters.
Heavy rainfall brought surging waters through the canyon on Saturday, destroying trails and footbridges, damaging infrastructure that carries water for use throughout the park, and forcing 62 hikers to be evacuated by helicopter by Sunday morning, according to the NPS.
Park officials reported on Sunday that the body of a 46-year-old man had been found. In a post on X, the NPS said “more than 20 individuals” might be missing or unaccounted for and sought information from the public about any hikers who might have been in the path of the raging waters.
In response to questions from Reuters on Monday, the NPS confirmed the existence of the second body but did not offer more details about the victim or provide an updated count of the missing.
With additional thunderstorms expected early this week and stringent water-use restrictions in place, the South Rim of the park remained open during the day on Monday but overnight accommodations and other concessions were closed.
Several hiking and lodging areas affected by the floods remained fully shuttered on Monday. The NPS asked that visitors remain away from the closed areas while search-and-recovery operations continue.
Reporting by Julia Harte; Editing by Aurora Ellis
Cyclist Gabriella Arnold battles to top-10 finish in Iowa
Bermudian cyclist Gabriella Arnold produced a gritty endurance display to secure a seventh-place finish at the gruelling Core4 Cycling Race in Iowa.
The demanding multi-surface gravel race pushed competitors through the challenging backroads and hilly terrain surrounding the Iowa City metro area.
Arnold tackled the lengthy course with composure, crossing the finish line in 6 hours, 35 minutes, and 55 seconds to claim a well-deserved top-10 result.
Victory went to Dutch gravel specialist Geerike Schreurs, who dominated the field with a winning time of 5:49:10, leaving Arnold 46 minutes and 45 seconds adrift of the top step.
Comet International Championship: Bailey seals world crown
Bermuda’s Rudy Bailey has captured another historic title after being crowned the International Comet Champion following a superb performance off the Corsica River Yacht Club.
Skippering Equalizer, the veteran sailor produced a composed series across the regatta, clinching overall victory with an impressive total of just 12 net points.
Bailey fended off a competitive international fleet to take top spot on the podium ahead of Jessica Gruskos (15 net points) in second and Wick Dudley (17 net points) in third.
Fellow Bermudian competitor Gregory Wade also delivered a solid showing, battling through the fleet to finish 12th overall on 47 net points.
The overseas triumph brings silverware back to the island and puts the spotlight firmly back on Bermuda’s Comet Class, delivering a world-class performance that demands recognition on the domestic stage.
Talbot seals main event as fight night thrills at North Field
The North Field at the National Sports Centre played host to a memorable night of combat sports as the inaugural Devil’s Isle Fight Championship made its debut in Bermuda.
Spectators were treated to an action-packed, multi-discipline card spanning mixed martial arts, Muay Thai, kickboxing, and grappling inside the cage.
The mixed martial arts division delivered high drama, headlined by an all-Bermudian middleweight showdown to close out the night:
- Middleweight Main Event: Jibreel Talbot capped the evening in style, defeating Jashun Thomas in the night’s final bout.
- 145lb MMA: Ishaan Rangta produced a composed display to get the better of Tristan Burgess.
- 130lb Muay Thai: Elvis Garcia took the victory after a fast-paced battle with Lucas Morello.
The striking bouts delivered fiercely contested stand-up battles across divisions:
- Kickboxing: Jay Astwood defeated Cole Durham in their 165lb bout, while Che Durham secured victory over Matisse Bascome at 155lb. Haelyn Marquez also impressed with a win against Enzi Johnston in the 115lb class.
- Grappling: Preston Rust locked in a rear-naked choke to force the tap from Jahmali Bridgewater at 115lb, while Mac Kukowski mirrored the feat in the 195lb contest with a submission victory over Ryan Hopkins.
Soccer-Argentina’s Messi ends international career
The record eight-times Ballon d’Or winner is his country’s record appearance-maker and scorer with 125 goals in 207 games, having transformed a complicated relationship with the national team into a story of redemption and triumph
International News via Reuters:
Lionel Messi, who captained Argentina to World Cup victory in 2022 and the final in 2026, is retiring from international football, he said on Monday.
The record eight-times Ballon d’Or winner is his country’s record appearance-maker and scorer with 125 goals in 207 games, having transformed a complicated relationship with the national team into a story of redemption and triumph.
“It was a decision that hurt — and still hurts deep down — but I understand that the time has come. I swear to you that I always gave it my all — not just in these last few years when we won everything, but before that too; I always fought and left everything on the field for this jersey, to bring you joy and make you feel proud to be Argentine through football,” the 39-year-old Messi wrote on Instagram.
“Time is running short, chapters come to a close, and this is one that hurts me deeply. I love, have loved, and will always love being part of the national team. I’ve given everything I had; I have nothing left to give, and besides, there are some great young players coming up who deserve to be here.
“I leave with the peace of mind and pride of having given you — alongside my teammates — moments we once only dreamed of,” Messi added.
NO FAIRYTALE FAREWELL
Defeat in this year’s World Cup final by Spain denied Messi a fairytale farewell, but his place among the game’s greats had long since been secured.
After years of disappointment with Argentina, including defeat in the 2014 World Cup final and successive Copa America finals, Messi won his first major international trophy at the 2021 Copa America before leading his country to glory at the 2022 Qatar World Cup.
The former Barcelona and Paris St Germain forward, who now plays for Inter Miami, added another Copa America title in 2024 and arrived at his sixth World Cup hoping to complete an extraordinary final chapter.
A 1-0 loss to Spain after extra time ensured that did not happen, but Messi, who made his Argentina debut in 2005, walks away having emerged from the shadow of 1986 World Cup-winning captain Diego Maradona to forge a legacy of his own as another defining figure in his country’s football history.
The Argentine Football Association posted on Instagram: “Thank you for giving us the most beautiful journey of our lives. Your legacy and professionalism will remain forever etched in our hearts. Thank you, Captain. We love you.”
Reporting by Nicolas Misculin and Julien Pretot; Additional reporting by Ramiro Scandolo in Buenos Aires and Chiranjit Ojha in Bengaluru, Editing by Ed Osmond and Toby Davis
Trump vows to hit Iran hard after first exchanges of fire in a month
Trump also said U.S. air defences had shot down all Iranian missiles that could have caused any damage and said that tough new U.S. economic sanctions on Iran were having a big impact
International News via Reuters:
U.S. President Donald Trump was quoted on Monday as promising to “hit them hard” after Iran launched missiles overnight at two U.S. air bases in Jordan in response to a U.S. attack on Iran’s Larak island.
“We’re going to hit them hard,” a Fox News reporter quoted Trump as telling the channel. “There will be a response.”
A senior Iranian source, speaking to Reuters, described the overnight hostilities between the United States and Iran, the first since late July, as a “limited and contained confrontation” but added that Tehran would deliver a harsh response if attacked again.
Trump also said U.S. air defences had shot down all Iranian missiles that could have caused any damage and said that tough new U.S. economic sanctions on Iran were having a big impact, Fox News reported.
PILING ON ECONOMIC PRESSURE
Washington has recently stepped up efforts to punish Tehran and its business partners with costly secondary sanctions, with diplomacy in stalemate six months into a war that began with U.S. and Israeli strikes on Iran.
U.S. Treasury Secretary Scott Bessent, echoing Trump, said on Monday the resumed exchanges of fire showed that Iran was “lashing out” now because the new sanctions were taking a heavy toll on its already battered economy.
“They’re taking it very seriously…they’re in shock at the state of their economy,” Bessent told reporters at a meeting of G20 finance ministers and central bank governors in North Carolina. “I would think that they are lashing out kinetically because they are losing economically.”
Bessent told Reuters on Sunday new secondary sanctions were likely to be unveiled weekly in the effort to pressure Iran, with an initial focus on banks.
US HIT IRANIAN ISLAND IN STRAIT OF HORMUZ
U.S. forces on Sunday struck two Iranian launchers on Iran’s Larak Island, a U.S. official said, after “Islamic Revolutionary Guard Corps forces were observed preparing to launch rockets with sea mines into the Strait of Hormuz”.
Three people were killed in the U.S. attack, Tasnim news agency reported. The state-affiliated Nournews said two of them had been identified as members of the Revolutionary Guards Navy.
Larak is a small island in the strait near the strategic Iranian port of Bandar Abbas. The Strait of Hormuz, which normally handles a fifth of global crude oil shipments, has been effectively blocked since the start of the war.
In a statement, the U.S. Central Command said it took “limited, precise” action against minelaying forces of Iran’s Revolutionary Guards that posed an “imminent threat” in the strait. It gave no details.
In response, as well as attacking the U.S. bases in Jordan, Iran’s army said it had struck the Al Minhad air base in the United Arab Emirates early on Monday. However, the UAE’s defence ministry dismissed that report as false.
The UAE defence ministry later said its air force engaged a drone that had come from Iran over its territorial waters. It provided no further details.
Iranian state TV quoted the Revolutionary Guards as saying a supertanker had caught fire and was brought to a complete halt after being struck by two naval mines in the southern Strait of Hormuz. The U.S. military later dismissed the claim as false.
PRESIDENT SAYS IRAN STILL WANTS NEGOTIATED END TO CONFLICT
The senior Iranian source, who has direct knowledge of Iranian decision-making and spoke to Reuters on condition of anonymity, said conditions in the Strait of Hormuz would “become worse for vessels that violate” rules set by Tehran for passage through the waterway.
The source added that no target was beyond Iran’s reach.
Iranian President Masoud Pezeshkian struck a milder tone on Monday, telling India’s Prime Minister Narendra Modi on the sidelines of a regional security meeting in Kyrgyzstan, that his country still sought a negotiated resolution of the conflict.
“… we are still trying to achieve an agreement and understanding, and we believe that continuing the war is in no one’s interest, neither ours, nor the region’s, nor humanity’s,” Iran’s semi-official Tasnim news agency quoted him as saying.
‘BLOWN TO SMITHEREENS!!!’
Trump had annoyed Iran overnight by posting on his Truth Social platform an AI-generated video clip that he said showed Iran’s oil hub Kharg Island being “blown to smithereens!!!”
There was no evidence of any such attack and a U.S. official said on Monday the military had not targeted Kharg Island in overnight strikes. An Iranian official dismissed Trump’s post as “laughable”.
Reuters confirmed that the video clip showing dramatic explosions was most likely synthetically generated, using software that detects AI-manipulated imagery.
The White House and the U.S. Defense Department did not respond to Reuters requests for comment outside regular business hours.
Kharg handled 90% of Iran’s oil exports before the war launched by U.S. and Israeli attacks on February 28, and attacking it would severely disrupt energy trade and put huge pressure on the economy.
Trump has yet to achieve the objectives he set out at the start of the war: dismantling Iran’s nuclear programme, curbing its ability to attack regional rivals and creating conditions for Iranians to overthrow their clerical rulers.
Additional reporting by Eman Abouhassira in Dubai, Phil Stewart and Kanishka Singh in Washington, Helen Coster in New York, and Yasmine Ghania and Hatem Maher in Cairo; Writing by Clarence Fernandez and Gareth Jones; Editing by Paul Thomasch, Raju Gopalakrishnan, Alex Richardson And Sharon Singleton
Payroll changes at BGA prompts Union meeting
Agitated employees at a local company have sought Union advice because of upcoming changes to how they are paid
Agitated employees at a local company have sought Union advice because of upcoming changes to how they are paid.
Bermuda Industrial Union President Chris Furbert turned up at BGA this morning for a meeting with its members who work at the Pitt’s Bay Road wholesaler.
The complaint is that a new payroll system could effectively leave employees short for the month of September – although the company has made efforts to support its staff through the changes.
All the companies in the BDC2000 family – such as BGA, Brown & Co, Phoenix and Pitt & Co – have, up until now, paid employees their monthly wages three weeks in advance – including weeks that were still to be worked…
However, the company is now updating its payroll system to pay in arrears, or, after an employee has worked for the full month for which they are being paid.
To adjust to the new system, BDC2000 is only going to pay its employees a week’s remuneration for the month of September.
Acknowledging that an employee may find themselves suddenly short on money, a BDC2000 spokesperson told us that they are offering an interest-free loan to cover the three week’s wages, and repayments won’t start until after six months.
Employees with large amounts of accrued vacation can also exchange that for three weeks’ wages to cover the gap. Alternatively, those who have saved money in the company’s Christmas Gift account can withdraw an amount to cover the gap, without any penalty for withdrawal.
However, the spokesperson told us that employees must choose one of these options by signing the relevant agreement before September 9th. If not, they will receive a week’s remuneration for the month of September and nothing else.
The spokesperson said they felt they were acting fairly and with consideration for BDC2000 employees, while aligning the company’s payroll with how most modern businesses operate.
We understand that the BIU had been called upon to represent its members in the matter, and that there was concern from the union that the company was bringing hardship on its staff. However, we have sought comment from BIU President Chris Furbert following the meeting today, and had not received a response by newstime.
WATCH the report above.
Sweden inks French war ship order
Sweden in May said it would order the vessels from the French company in a $4 billion deal that will triple its air defence capacity in the face of security threats in the Baltic Sea
International News via Reuters:
Sweden’s defence material administration on Monday signed an order for four Naval Group navy frigates during a ceremony in Stockholm attended by French President Emmanuel Macron and Swedish Prime Minister Ulf Kristersson.
Sweden in May said it would order the vessels from the French company in a $4 billion deal that will triple its air defence capacity in the face of security threats in the Baltic Sea.
Sweden, NATO’s newest member, is racing to build up its military in the wake of Russia’s invasion of Ukraine. The first of the four new frigates, which will be the Swedish navy’s biggest ships, is expected to be delivered in 2030.
The deal comes as France and Sweden deepen defence ties, pushing for greater European military self-reliance at a time when doubts over U.S. President Donald Trump’s commitment to Europe are prompting governments across the continent to rethink their dependence on American weapons and security guarantees.
Reporting by Anna Ringstrom, additional reporting by Michel Rose in Paris, editing by Terje Solsvik
