In Short:
– Sir Keir Starmer will recognise Palestine as a state after Donald Trump’s visit, despite US opposition.
– The UK’s recognition follows internal pressure and a warning from Benjamin Netanyahu about potential security threats.

Sir Keir Starmer will formally recognise Palestine as a state following Donald Trump’s state visit.

The Prime Minister’s announcement is delayed to avoid overshadowing their joint press conference at Chequers. The US has expressed strong opposition to this recognition, with President Trump stating it could reward Hamas.

The recognition comes ahead of the UN General Assembly meeting next week, where several countries, including the UK, are expected to support Palestinian statehood. Yvette Cooper and David Lammy will represent the UK, as Sir Keir will not attend.

Statehood Debate

In July, the Prime Minister stated the UK would recognise Palestine unless Israel agreed to specific conditions, which Israel has rejected. Benjamin Netanyahu condemned Starmer’s impending recognition and warned of potential security threats.

Internal pressure on the Prime Minister is growing, with a significant number of Labour MPs advocating for action.

Cooper has characterised Israel’s actions in Gaza City as reckless, while the government maintains Hamas must disarm and cannot influence the recognition process of Palestine.

In Short:
– Abu Dhabi’s $30 billion Santos takeover was abandoned just before a binding offer.
– Concerns over commercial value and regulatory issues prompted the withdrawal.

Abu Dhabi’s $30 billion takeover of Santos has been unexpectedly abandoned just 48 hours before a binding offer was set to be made.

The XRG consortium, which includes the state-owned oil and gas operator ADNOC and US private equity partner Carlyle, recently proposed an $8.89 per share offer after months of due diligence.

However, they cited concerns over commercial value as the reason for withdrawing their offer.In a statement, XRG confirmed it would not proceed with a binding offer for Santos but expressed a positive outlook regarding the company’s business.

Santos chairman Keith Spence reassured investors about the company’s strategy and leadership, emphasizing that the board is focused on long-term value.

Strategic Challenges

Several issues, including regulatory hurdles and potential delays, prompted XRG’s decision. Australian unions raised concerns about the impact of foreign investment on local jobs.

XRG acknowledged the Santos management’s support during the process and expressed hope for ongoing collaboration in Australia’s energy sector.