Happy Thursday and welcome to your morning wrap of the latest political and global headlines from around the world.
First up this morning, multiple media outlets are leading with the news that the United States is reducing the number of personnel at an air base in Qatar, as President Donald Trump considers whether to take action against Iran over its crackdown on anti-government protesters.
Officials told CBS that the partial American withdrawal was a “precautionary measure”. The BBC reports that some UK military personnel are also being removed.
The Qatari government, in a statement, said the measures were in response to “current regional tensions”.
As Reuters reported, the move comes after a senior Iranian official said Tehran had warned neighbours it would hit American air bases if Washington strikes.
The unrest in Iran has been sparked by dire economic conditions and has posed the biggest challenge to Iran’s rulers in recent years. It also comes at a time of intensifying international pressure following Israeli and US strikes last year.
Tehran has responded with violence to the protesters, with the BBC quoting figures from rights groups that more than 2400 protesters have been killed.
Donald Trump has sought to put pressure on Iran’s establishment by announcing a 25% tariff earlier this week on any country doing business with the major oil exporter. He has also encouraged protesters to stand up to the government and vowed to take “very strong action” against Iran if the authorities execute prisoners.
In other news, officials from Greenland and Denmark have just met with senior White House officials in Washington, as Donald Trump has reiterated his desire for the semi-autonomous Danish territory, the Associated Press reported.
Vice President JD Vance and Secretary of State Marco Rubio participated in the talks with Danish Foreign Minister Lars Løkke Rasmussen and Greenlandic Foreign Minister Vivian Motzfeldt to discuss Greenland.
A few hours before the talks began, Trump reiterated that the US needs Greenland for national security and suggested that Nato “should be leading the way for us to get it”. He also said anything less than Greenland being under American control is “unacceptable”.
Greenland’s representatives to the US and Canada responded by saying, “Why don’t you ask us?” and noted the low percentage of island residents who wanted to become part of the US.
About 80% of Greenland is covered by ice but there has been increased interest in its natural resources, including rare earth minerals.
In business news, sources have told Reuters that Netflix is preparing to make an all-cash offer for Warner Bros Discovery’s studios and streaming businesses.
The change is aimed at expediting the deal after rival bidder Paramount Skydance launched a hostile takeover.
Bloomberg reported on the news earlier in the day, where Netflix declined to comment.
Netflix’s US$82.7 billion ($144b) offer initially consisted of cash and stock for the assets, while Paramount’s US$108.4b bid for the entire company was made up entirely of cash.
Warner Bros’ board has favoured Netflix’s offer and has argued Paramount’s bid hinges on significant debt financing, which is risky.
Staying with business, Saks Global, the parent company of the luxury New York retailer Saks Fifth Avenue, has filed for Chapter 11 bankruptcy protection as the company struggles with a heavy debt load following its purchase of Neiman Marcus in 2024, CNN reported.
A Saks Fifth Avenue box for a clutch purse. (Source: Wikimedia Commons.)
The company was in a precarious position prior to the merger, and the combination of luxury department stores failed to drive enough efficiencies.
It also came as more Americans have moved away from shopping at department stores and have grappled with cost-of-living challenges.
“This is a defining moment for Saks Global, and the path ahead presents a meaningful opportunity to strengthen the foundation of our business and position it for the future,” Saks Global chief executive Geoffroy van Raemdonck said in a statement.
Saks said it had secured US$1b of debtor-in-possession financing, which “will provide ample liquidity to fund Saks Global’s operations and turnaround initiatives.”
In other business news, the Financial Times reports on how trading groups are expanding into the rapidly evolving world of prediction markets, seeking to hire traders to arbitrage price discrepancies between contracts for events such as football games.
Trading volumes on markets such as Polymarket and Kalshi exploded in the run-up to the 2024 election and have continued to surge, as the platforms have transformed into betting sites dominated by sports but also politics.
A mystery trader made global headlines earlier this year when they won more than $400,000 on a bet that Venezuelan President Nicolas Maduro would be captured by the US military.
Now, Wall Street trading firms are looking to hire people to get in on the action.
Don Wilson’s DRW is looking for a trader who will be paid a base salary of up to $200,000 to “monitor and trade active markets in real time”, while options trading giant Susquehanna is also on the hunt for traders.
Analysts said risk controls would prevent these firms from betting on events such as whether Trump would buy Greenland or the outcome of the Golden Globes, and instead look at capitalising on markets that offer different prices for similar outcomes.
