Yemen's Houthis threaten to escalate attacks on ships linked to companies dealing with Israel
The Iran-backed Houthis launched a campaign targeting merchant vessels in response to the Israel-Hamas war in the Gaza Strip , saying they were doing so in solidarity with the Palestinian people. Their attacks over the past two years have upended shipping in the Red Sea , through which $1 trillion of goods usually passes each year.
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an hour ago
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The quiet war: What's fueling Israel's surge of settler violence – and the lack of state response
Since Oct. 7, 2023, as Israel's war against Hamas drags on in the Gaza Strip, a quieter but escalating war has unfolded in the West Bank between Israelis and Palestinians. While precise figures are elusive, United Nations estimates indicate that Jewish settlers have carried out around 2,000 attacks against Palestinians since the war in Gaza began. That number represents a dramatic surge compared with any previous period during the nearly six decades Israel has controlled the West Bank. Attacks include harassment of Palestinian villagers trying to access their crops or work outside their villages, as well as more extreme and organized violence, such as raiding villages to vandalize property. While many of the attacks are unprovoked, some are what settlers call 'price tag' actions: retaliation for Palestinian violence against Israelis, such as car-rammings, rock-throwing and stabbings. Settlers' attacks displaced more than 1,500 Palestinians in the first year of the war in Gaza, and gun violence is increasingly common. Since October 2023, more than 1,000 Palestinians in the West Bank have been killed. While most of these fatalities resulted from military operations, some were killed by settlers. As a scholar who has studied Jewish religious extremism for over two decades, I contend this campaign is not merely a result of rising tension between the settlers and their Palestinian neighbors amid the Gaza conflict. Rather, it is fueled by a confluence of ideological fervor, opportunism and far-right Israelis' political vision for the region. Religious redemption Israel has occupied the West Bank since 1967's Six-Day War against Egypt, Jordan and Syria, transforming this small region of around 2,000 square miles (5,200 square kilometers) to an amalgam of Jewish and Palestinian enclaves. Most countries other than Israel consider Jewish settlements illegal, but they have rapidly expanded in recent decades, becoming a major challenge for any settlement of the Israeli-Palestinian conflict. The ideological roots of violence lie within religious Zionism: a worldview embraced by about 20% of Israel's Jewish population, including most West Bank settlers. The great majority of the leaders of the early Zionist movement held strong secular views. They pushed for the creation of a Jewish state over the objections of Orthodox figures, who argued that it should be a divine creation rather than a human-made polity. Religious Zionists, on the other hand, view the creation of modern-day Israel and its military victories as steps in a divine redemption, which will culminate in a Jewish kingdom led by a heaven-sent Messiah. Adherents believe contemporary events, particularly those asserting Jewish control over the entire historical land of Israel, can accelerate this process. In recent decades, influential religious Zionist leaders have argued that final redemption requires Israel's total military triumph and the annihilation of its enemies, particularly the Palestinian national movement. From this perspective, the devastation of Oct. 7 and the subsequent war are a divine test – one the nation can only pass by achieving a complete victory. This belief system fuels most religious Zionists' opposition to ending the war, as well as their advocacy for scorched-earth policies in Gaza. Some hope to rebuild the Jewish settlements in the strip that Israel evacuated in 2005. The violence in the West Bank reflects an extension of the same beliefs. Extreme groups within the settler population aim to solidify Jewish control by making Palestinian communities' lives in the region unsustainable. Opportunistic violence Hamas' Oct. 7 massacre, which killed over 1,200 Israelis, traumatized the nation. It also hardened many Jewish Israelis' conviction that a Palestinian state would be an existential threat, and thus Palestinians cannot be partners for peace. This shift in sentiment created a permissive environment for violence. While settler attacks previously drew criticism from across the political spectrum, extremist violence faces less public condemnation today – as does the government's lack of effort to curb it. This increase in violence is also enabled by a climate of impunity. Israeli security forces have been stretched thin by operations in Gaza, Syria, Iran and beyond. In the West Bank, the military increasingly relies on settler militias known as 'Emergency Squads,' which are armed by the Israeli military for self-defense, and army units composed primarily of religious Zionist settlers, such as the Netzah Yehuda Battalion. Such groups have little incentive to stop attacks on Palestinians, and at times, they have participated. This dynamic has dangerously blurred the line between the state military and militant settlers. The Israeli police, meanwhile, under the command of far-right National Security Minister Itamar Ben-Gvir, appear focused on protecting settlers. Police leadership has been accused of ignoring intelligence about planned attacks and failing to arrest violent settlers or enforce restraining orders. Yesh Din, an Israeli human rights group, asserts that just 3% of attacks have resulted in a conviction. In June 2025, military attempts to curb settler militancy triggered a violent backlash, as extremist settlers attacked military commanders and tried to set fire to military facilities. Settlers view efforts to restrict their actions as illegitimate and a betrayal of Jewish interests in the West Bank. Political vision Violence by extremist settlers is not random; it is one arm of a coordinated pincer strategy to entrench Jewish control over the West Bank. While militant settlers create a climate of fear, Israeli authorities have undermined legal efforts to stop the violence – ending administrative detention for settler suspects, for example. Meanwhile, the government has intensified policies that undermine Palestinians' economic development, freedom of movement and land use. In May, finance minister and far-right leader Bezalel Smotrich approved 22 new settlements, calling it a 'historic decision' that signaled a return to 'construction, Zionism, and vision.' Together, violence from below and policy from above advance a clear strategic goal: the coerced depopulation of Palestinians from rural areas to solidify Israeli sovereignty over the entire West Bank. Levers for change The militant elements of the settler movement constitute a fractional segment of Israeli society. When it comes to improving the situation in the West Bank, broad punitive measures against the entire country, such as economic boycotting and divestment, or blocking access to scientific, economic and cultural programs and organizations, have historically proved ineffective. Instead, such policies seem to entrench many Israelis' perception of international bias and double standards: the sense that critics are antisemitic, or that few outsiders understand the country's challenges – particularly in light of threats from entitles like Iran, Hamas and Hezbollah, which openly seek Israel's elimination. More targeted policies aim specifically at the Israeli far right, including sanctions – economic, political or cultural – directed at settler communities and their infrastructure. Canada, Australia, New Zealand, Norway and the U.K. have imposed travel bans on Ben-Gvir and Smotrich, and frozen their assets in those countries. Similarly, I believe decisions to ban goods produced in the West Bank settlements, as Ireland has recently debated, would be more effective than banning all Israeli products. This targeted approach, I would argue, would allow the international community to cultivate stronger alliances with the many Israelis concerned about the settlements and Palestinians' rights in the West Bank. This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: Arie Perliger, UMass Lowell Read more: Israelis have a skewed view on extent of Gaza's hunger plight − driven by censorship and media that downplay humanitarian crisis How the Israeli settlers movement shaped modern Israel Why government support for religion doesn't necessarily make people more religious Arie Perliger does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Yahoo
an hour ago
- Yahoo
LyondellBasell Industries NV (LYB) Q2 2025 Earnings Call Highlights: Strategic Adjustments Amid ...
Earnings Per Share (EPS): $0.62 per share. EBITDA: $715 million. Cash Returns to Shareholders: Over $500 million. CapEx Guidance for 2025: Reduced to $1.7 billion, a $200 million reduction from initial guidance. Cash Improvement Plan: On track to achieve a run rate of $600 million in incremental cash flow for 2025. Olefins and Polyolefins Americas EBITDA: $318 million, a more than 25% improvement from the first quarter. Olefins and Polyolefins Europe, Asia, and International EBITDA: $46 million. Intermediates and Derivatives EBITDA: $290 million, an increase of $71 million. Advanced Polymer Solutions EBITDA: $40 million. Technology Segment EBITDA: $34 million. Cash Balance: $1.7 billion at the end of the second quarter. Operating Rates: Olefins and Polyolefins Americas at 85%, Europe, Asia, and International at 75%, Intermediates and Derivatives at 80%. Warning! GuruFocus has detected 5 Warning Signs with LYB. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points LyondellBasell Industries NV (NYSE:LYB) reported a strong safety performance with a top decile total recordable incident rate of 0.12, highlighting their commitment to operational safety. The company is strategically focusing on growing and upgrading its core businesses, particularly in regions with low-cost feedstocks like the United States and the Middle East. LYB is making significant progress in its cash improvement plan, targeting $600 million in cash flow improvements for 2025, up from the initial $500 million target. The company has successfully completed turnarounds at its Channelview complex, leading to improved operating rates and reduced downtime. LYB is advancing its circular and low-carbon solutions business, with projects like the MoReTec 1 chemical recycling plant in Germany progressing well. Negative Points The European market remains challenging for LYB due to high feedstock and energy costs, coupled with insufficient regulatory support, impacting global competitiveness. The company has decided to delay certain growth investments, including the Flex 2 project, due to current market conditions, which may impact future growth potential. LYB's cash flow from operations was negative in the first half of 2025, primarily due to working capital build and additional tax payments. The Advanced Polymer Solutions segment continues to face challenges with sluggish automotive production volumes and lower demand from construction and electronics. The Technology segment experienced a decline in EBITDA due to inventory cost adjustments and changes in sales mix, with subdued licensing activity across the industry. Q & A Highlights Q: Given the operating leverage and price increases, what sort of sequential lift should we expect in O&P Americas, and is there potential for additional price increases? A: (Peter Vanacker, CEO) We expect an $85 million improvement in Q3 due to less downtime following successful turnarounds. Operating rates are planned at 85%. (Kimberly Foley, EVP) Historically, back-to-back price increases are rare without major supply disruptions, but positive indicators like improved export demand and low global inventories suggest potential for a price increase in Q3. Q: With the current downturn, how secure is LyondellBasell's dividend, and what are your thoughts on shareholder returns? A: (Peter Vanacker, CEO) We will pay our Q3 dividend of $1.37 per share. Our liquidity remains strong at $6.35 billion, and we prioritize maintaining our investment-grade rating. We are not planning further share buybacks in 2025 and 2026, focusing instead on improving cash flow by at least $1.1 billion over these years. Q: Does the 2026 CapEx forecast of $1.4 billion include the potential benefit from the European asset sale? Also, can you elaborate on the precious metals opportunity in IND? A: (Agustin Izquierdo, CFO) The $1.4 billion CapEx for 2026 is based on our existing base. The $110 million reduction from the European asset sale will be realized once the transaction closes. (Aaron Ledet, EVP) We are transitioning to a silica-based catalyst in our VAM unit, which will gradually impact us through 2028. We realized $35 million from precious metal sales in Q2. Q: Can you comment on the general level of cash flow generation expected for 2025 and the factors affecting it? A: (Agustin Izquierdo, CFO) Our cash flow from operations was negative in Q1 due to a working capital build and additional tax payments. However, Q2 saw a positive cash flow of $359 million. We expect strong cash conversion in the second half of the year, targeting an 80% cash conversion for the full year. Q: Regarding MoReTec 2, was the decision to delay FID due to market dynamics or cash conservation, and how does this affect your circular strategy targets? A: (Peter Vanacker, CEO) MoReTec 1 is progressing well, and we see positive regulatory momentum in Europe. MoReTec 2's FID is delayed to align with market development and prudent capital allocation. We will complete front-end engineering and design by year-end and will proceed based on market conditions and brand owner commitments. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
an hour ago
- Yahoo
LyondellBasell Industries NV (LYB) Q2 2025 Earnings Call Highlights: Strategic Adjustments Amid ...
Earnings Per Share (EPS): $0.62 per share. EBITDA: $715 million. Cash Returns to Shareholders: Over $500 million. CapEx Guidance for 2025: Reduced to $1.7 billion, a $200 million reduction from initial guidance. Cash Improvement Plan: On track to achieve a run rate of $600 million in incremental cash flow for 2025. Olefins and Polyolefins Americas EBITDA: $318 million, a more than 25% improvement from the first quarter. Olefins and Polyolefins Europe, Asia, and International EBITDA: $46 million. Intermediates and Derivatives EBITDA: $290 million, an increase of $71 million. Advanced Polymer Solutions EBITDA: $40 million. Technology Segment EBITDA: $34 million. Cash Balance: $1.7 billion at the end of the second quarter. Operating Rates: Olefins and Polyolefins Americas at 85%, Europe, Asia, and International at 75%, Intermediates and Derivatives at 80%. Warning! GuruFocus has detected 5 Warning Signs with LYB. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points LyondellBasell Industries NV (NYSE:LYB) reported a strong safety performance with a top decile total recordable incident rate of 0.12, highlighting their commitment to operational safety. The company is strategically focusing on growing and upgrading its core businesses, particularly in regions with low-cost feedstocks like the United States and the Middle East. LYB is making significant progress in its cash improvement plan, targeting $600 million in cash flow improvements for 2025, up from the initial $500 million target. The company has successfully completed turnarounds at its Channelview complex, leading to improved operating rates and reduced downtime. LYB is advancing its circular and low-carbon solutions business, with projects like the MoReTec 1 chemical recycling plant in Germany progressing well. Negative Points The European market remains challenging for LYB due to high feedstock and energy costs, coupled with insufficient regulatory support, impacting global competitiveness. The company has decided to delay certain growth investments, including the Flex 2 project, due to current market conditions, which may impact future growth potential. LYB's cash flow from operations was negative in the first half of 2025, primarily due to working capital build and additional tax payments. The Advanced Polymer Solutions segment continues to face challenges with sluggish automotive production volumes and lower demand from construction and electronics. The Technology segment experienced a decline in EBITDA due to inventory cost adjustments and changes in sales mix, with subdued licensing activity across the industry. Q & A Highlights Q: Given the operating leverage and price increases, what sort of sequential lift should we expect in O&P Americas, and is there potential for additional price increases? A: (Peter Vanacker, CEO) We expect an $85 million improvement in Q3 due to less downtime following successful turnarounds. Operating rates are planned at 85%. (Kimberly Foley, EVP) Historically, back-to-back price increases are rare without major supply disruptions, but positive indicators like improved export demand and low global inventories suggest potential for a price increase in Q3. Q: With the current downturn, how secure is LyondellBasell's dividend, and what are your thoughts on shareholder returns? A: (Peter Vanacker, CEO) We will pay our Q3 dividend of $1.37 per share. Our liquidity remains strong at $6.35 billion, and we prioritize maintaining our investment-grade rating. We are not planning further share buybacks in 2025 and 2026, focusing instead on improving cash flow by at least $1.1 billion over these years. Q: Does the 2026 CapEx forecast of $1.4 billion include the potential benefit from the European asset sale? Also, can you elaborate on the precious metals opportunity in IND? A: (Agustin Izquierdo, CFO) The $1.4 billion CapEx for 2026 is based on our existing base. The $110 million reduction from the European asset sale will be realized once the transaction closes. (Aaron Ledet, EVP) We are transitioning to a silica-based catalyst in our VAM unit, which will gradually impact us through 2028. We realized $35 million from precious metal sales in Q2. Q: Can you comment on the general level of cash flow generation expected for 2025 and the factors affecting it? A: (Agustin Izquierdo, CFO) Our cash flow from operations was negative in Q1 due to a working capital build and additional tax payments. However, Q2 saw a positive cash flow of $359 million. We expect strong cash conversion in the second half of the year, targeting an 80% cash conversion for the full year. Q: Regarding MoReTec 2, was the decision to delay FID due to market dynamics or cash conservation, and how does this affect your circular strategy targets? A: (Peter Vanacker, CEO) MoReTec 1 is progressing well, and we see positive regulatory momentum in Europe. MoReTec 2's FID is delayed to align with market development and prudent capital allocation. We will complete front-end engineering and design by year-end and will proceed based on market conditions and brand owner commitments. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
