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Amid a wave of Israeli air strikes that have killed hundreds and displaced roughly 20 % of Lebanon’s population from the south, Lebanese banker Antoun Sehnaoui attracted fierce criticism after being publicly praised for his pro‑Israel activities. Sehnaoui, who chairs Societe Generale de Banque au Liban (SGBL), attended an event at the United States Holocaust Memorial Museum – a venue he has financially supported. The commendation came from Morgan Ortagus, the U.S. Middle‑East envoy who, according to reports, is also Sehnaoui’s romantic partner. Ortagus framed support for Israel as a matter of "moral clarity", even when it entails personal risk. She highlighted Sehnaoui’s funding of a U.S.–Israeli opera project, noting that such transactions are technically illegal in Lebanon under the country’s ban on dealings with Israeli entities. Describing the banker’s lineage, Ortagus said he hails from generations of "committed Lebanese Christian Zionists" and that his family has been "trained to support the State of Israel and the Jewish people." She also referenced his father, Nabil Sehnaoui, a principal backer of the Lebanese Forces militia, which allied with Israel during the 1982 invasion and was implicated in the Sabra‑Shatila massacres. The timing of the endorsement proved especially contentious. Since mid‑March, Israel has been accused of employing a “quadruple‑tap” bombing technique designed to maximise civilian casualties, and more than a million southerners have fled their homes, deepening sectarian tensions. Lebanese social‑media users reacted with outrage, calling for Sehnaoui’s imprisonment, accusing him of betraying his nation, and even alleging he had converted to Judaism. One commentator, academic Makram Rabah, argued that while a museum visit should not be controversial, the overt support for Israel amid a fragile ceasefire is. Ortagus’s own record – marked by staunch opposition to Hezbollah and open advocacy for Israel since her appointment in April 2025 – has already drawn scrutiny over her suitability as a neutral broker in the region. Beyond the political backlash, Sehnaoui faces serious legal challenges. Lebanese prosecutors have filed money‑laundering charges against him and SGBL, alleging illicit currency‑trading activities that exacerbated the country’s financial crisis that began in 2019. The bank denies any wrongdoing. In the United States, a 2020 civil lawsuit filed by families of Hezbollah‑linked attack victims accuses SGBL of providing material support to the militant group – a claim the bank also rejects. Lebanese MP Paula Yacoubian warned that Sehnaoui’s recent maneuvers appear designed to secure personal immunity in exchange for facilitating Israel‑Lebanon normalisation, rather than delivering tangible benefits such as the safe return of displaced residents. While the controversy rages, a tenuous ceasefire has allowed tens of thousands of residents to return to the devastated south, many seeking the remains of loved ones or assessing the damage to their homes.

London, 17 April 2026 – The International Monetary Fund (IMF) has advised the Bank of England (BoE) to keep its policy rate at 3.75% for the remainder of the year, warning that the ongoing Iran war is fuelling inflation and could shave 0.5 % off euro‑area growth.Alfred Kammer, director of the IMF’s European Department, told reporters in Washington that the BoE should maintain “a restrictive monetary policy stance” and keep the rate unchanged, stating: “That means keeping the policy rate unchanged for the remainder of the year, i.e., not proceeding with the expected cuts.”BoE Governor Andrew Bailey echoed a cautious tone, saying the bank would not “rush to judgments” on how to respond to an inflation shock driven by higher energy prices – a shock the central bank cannot directly offset with rate moves. Money markets are already pricing in at least one quarter‑point rate rise later in 2026, despite the current hold.The IMF also signalled a similar stance for the European Central Bank, urging a “neutral monetary policy stance” that would involve two quarter‑point hikes in 2026, with the possibility of reversal in 2027 if conditions improve.These monetary‑policy warnings come as the live‑blog highlighted broader economic stress: Chicago wheat futures have surged 4.5 % this week, the biggest weekly jump since February, driven by dry weather in the U.S. Plains and the Iran war’s impact on fertilizer and diesel costs. Humanitarian group Mercy Corps warned that fuel, fertilizer and shipping disruptions are already locking in food‑insecurity risks for fragile economies in Somalia, Ethiopia and Pakistan.Analysts note that the IMF’s advice underscores the delicate balance the BoE faces between curbing inflation and avoiding a premature rate cut that could undermine credibility. With inflationary pressures from energy and food still elevated, a hold‑and‑monitor approach may preserve policy flexibility, but markets will watch closely for any shift toward tightening if inflation proves stickier than anticipated.

Wrexham AFC, the football club co-owned by Hollywood stars Ryan Reynolds and Rob Mac, has been awarded a £3.8m government grant without a contract or a completed state aid assessment in place. This has raised questions over whether the award was lawful.The club has received a total of £18m in taxpayer-funded grants to help redevelop its stadium, the Racecourse Ground. This is significantly more than any other club in the UK.Responses to freedom of information requests suggest that Wrexham county borough council awarded the money before completing the usual steps. Alexander Rose, a partner specialising in subsidy control at law firm Ward Hadaway, stated that the lack of a final state aid assessment at the time the grant was awarded would have left it vulnerable to legal challenge by a rival.However, there is little prospect of Wrexham AFC being forced to repay the cash, as the one-month window for challenges to be filed has since closed. The leader of Wrexham council, Mark Pritchard, said: “All due diligence and checks were in place ahead of the transfer of any funding and we refute any accusations to the contrary.”Reynolds and Mac took over the club in 2021, bringing with them a wave of sponsorship and global interest via their Disney TV series Welcome to Wrexham. The club has been able to far outspend their lower-league rivals, transforming the club’s fortunes.Wrexham, which was granted city status in 2022, awarded the £18m to the star-studded club as part of its “Wrexham Gateway” urban improvement scheme. Most of the money went towards developing the stadium, despite the club having deep-pocketed owners.The first £3.8m tranche of cash was awarded on 8 February 2022, less than a year after Reynolds and Mac’s takeover. Another £14m was awarded in September 2025.Public authorities that give out grants are required by law to judge if they comply with the principles of subsidy control, to ensure taxpayer money is not misspent. However, in response to a freedom of information request, Wrexham council said it only had “draft assessments” in place before the money was awarded.The council said the final assessment it provided was submitted nearly five months later, on 6 July 2022. In response to questions, the council shared a draft assessment it said dated from 7 September 2021.Rose said: “At the time the £3.8m grant was awarded there was a duty to carry out a principles assessment. Evidence that this assessment wasn’t finalised when the grant was given would certainly have helped a challenger, for example a rival football club.”“Subsidy control rules exist to ensure there’s a level playing field in which businesses can compete,” he added. “That includes in professional football. They’re also an important protection for the taxpayer, preventing wasteful and unnecessary subsidies from being awarded.”Recipients of large grants almost always sign contracts to ensure taxpayer money is spent as promised. Yet the council said the grant was authorised by its executive board and “provided in advance of the finalisation of the grant funding agreement”.The council said the grant funding agreement – apparently covering the whole £18m – was only created in July 2023.The contract was then completed on 17 September 2025, when the £14m tranche was awarded.The two-year delay between the creation of the contract and its signing also offered another potential benefit to Wrexham council: new subsidy control laws that came into force days earlier in August raised the threshold for mandatory scrutiny of the grant by the Competition and Markets Authority.Delaying the subsidy meant the award to Wrexham AFC was not subject to this scrutiny.While it was tapping taxpayer money, the club was also able to raise huge amounts from private backers. In the year to June 2025 it raised £36m through share issues. Three months after the second grant, Reynolds and Mac announced the sale of a stake in the club to Apollo, one of the world’s largest private equity firms.Bloomberg reported that Wrexham was valued as high as £350m. The club then raised another £47.8m in January, according to corporate filings.In the year before it received the £14m grant, Wrexham was able to repay loans worth £10.6m to Ryan Reynolds’s company, according to accounts published last month. It also lost £3.8m from the collapse of Argentex, a currency brokerage that entered special administration in July 2025 because of failed foreign exchange trades.Pritchard, the council leader, said: “The grant represents a small investment compared to what the club will be investing at the Racecourse … In fact, as the club has grown in both stature, ambition and from external investment, the percentage of public investment compared to that of the club has shrunk from roughly 68% of the project costs to around 25% currently.“This demonstrates further value for money in regard to the initial investment from the public purse.”Wrexham AFC said the club is itself making a “significant financial investment with the support of our ownership group and investors”. Accounts published last month show the club has signed a £69.2m contract to build a new stand.The spokesperson said the “funding ensures the facility can be brought up to the required standard to host international sporting events, including international football and rugby matches (as opposed to just meeting domestic football criteria)”

At a damp morning meeting in Sandy Park, Exeter Chiefs chairman Tony Rowe outlined the club’s next chapter: a potential sale to an American investment group that will be decided by the club’s 700‑plus members at an extraordinary general meeting on 7 May.Rowe, now 77, has steered the Chiefs for more than three decades, guiding the team from a modest county‑ground side to Premiership champions in 2010. Yet he admits that “romance doesn’t pay the bills” in today’s professional rugby, and a well‑funded owner could finally provide the financial muscle the club needs.The proposed buyer is described as a “mega‑wealthy multi‑sport investor” already active in British football. If the vote passes, the investor would inject fresh capital, allowing Exeter to compete for top talent such as marquee player Immanuel Feyi‑Waboso and to pursue broader ambitions.Rowe argues that English club rugby must look beyond nostalgia. “We’ve got to wake up and smell the coffee,” he said, emphasizing the need for an owner with deep pockets. He warned that the club’s current shareholder structure, which “has no money,” limits growth.The takeover is part of a wider trend of foreign money entering English rugby, following recent investments in Newcastle Red Bulls and Bath. Rowe believes a cash‑rich owner will position Exeter to help expand the Premiership from its current ten clubs to twelve, and eventually fourteen, with a view to incorporating Welsh sides.He suggested that adding “two Welsh clubs” could revitalise Welsh rugby, which he described as “on its arse,” and noted that travel logistics would not be a barrier for English clubs making weekend trips to Wales.Financial pressures remain acute. Rowe cited a £25 million loss from Covid and the post‑pandemic mini‑recession, compounded by a government grant that was later converted into a loan and a Rugby Football Union (RFU) contribution that covered only half of the promised support.He also criticised a £200 million 2018 deal that gave private‑equity firm CVC Capital Partners a 27 % share of the club’s commercial rights. “We should never have sold those shares,” Rowe lamented, adding that CVC has done little to boost sponsorship or “razzmatazz” for the sport.Looking ahead, Rowe stresses the importance of attracting a younger, millennial fan base, noting that “our future supporters are millennials” and that they will be the financial lifeline of the club.Despite the uncertainties, Rowe remains optimistic. He confirmed he will stay on under the new ownership, describing the investors as “long‑term” and “understanding of the sport.” He warned the new owners must respect Exeter’s Devonian heritage, likening the club’s future to a bus that needs a fresh fuel supply to reach “even greater success.”

Dan Skelton is already set to be crowned the United Kingdom’s champion trainer over jumps for the first time this season, yet he still has several objectives left as the campaign reaches its climax.Earlier this month Skelton made history by becoming the first trainer to surpass £4 million in prize money during a British jumps season. With a 320‑mile journey to Ayr scheduled for Saturday, he will field five runners and hopes to chip away at the £200,000 needed to break the £5 million barrier.His yard has already recorded victories at 39 of Britain’s 41 jumping tracks this season. The only venues still without a win are Perth and Plumpton, where Skelton entered twenty runners – including several favourites – but fell short. Two of his horses will contest Plumpton’s Sussex Stayers’ Handicap Hurdle on Sunday.“It’s never been done before, so we’re going to give it our best shot,” Skelton said on Friday. “We just can’t quite seem to get over the line at Plumpton, but maybe Sunday will be the day that we do.”The Scottish Grand National has become a pivotal fixture in the trainers’ championship over the past two years. With Willie Mullins already out of contention for the title, his stable will field only one runner at Ayr as he attempts a third consecutive Grand National double – winning at Aintree and then at Ayr.Patrick Mullins, who rode unshipped from Grangeclare West at Aintree last weekend, will take the reins on Road To Home. The horse was narrowly beaten in the Fulke Walwyn/Kim Muir at Cheltenham last month and will carry six pounds more on Saturday.Among the local contenders, King Of Answers (currently 3.35 odds) trained by Lucinda Russell and Michael Scudamore appears a strong bet at about 7‑1. The horse was a runner‑up in the National Hunt Chase at Cheltenham and will be only three pounds heavier for the four‑mile test at Ayr.Other notable entries include Traprain Law for Patrick Wadge, who previously won the course‑and‑distance race, and Diamond Dealer, whose front‑running style could prove decisive if the horse settles into its usual rhythm.In the broader betting market, Gibbs Island (2.20) and Twistthenightaway (2.55) are also highlighted as potential performers, while Pride Of Arras (2.35) aims to repeat its Dante success.Overall, Skelton’s pursuit of the £5 million season total adds extra intrigue to an already high‑stakes Scottish Grand National, promising a decisive showdown for the jumps championship.

Former NBA player and assistant coach Damon Jones is expected to plead guilty in a landmark US gambling case, marking a significant development in a sweeping investigation that has led to the arrests of over 30 individuals, including reputed mobsters and other basketball figures.A change-of-plea hearing for Jones is scheduled for April 28 in Brooklyn federal court. He faces charges of wire fraud conspiracy and money-laundering conspiracy related to two separate indictments. The first indictment accuses him of profiting from rigged poker games, while the second charges him with providing sports bettors with non-public information about injuries to NBA stars LeBron James and Anthony Davis.Jones, 49, had previously pleaded not guilty to the charges. He was arrested last October alongside Portland Trail Blazers head coach Chauncey Billups and Miami Heat guard Terry Rozier, among others. According to prosecutors, Jones sold or attempted to sell non-public information to bettors, including a tip that James was injured and wouldn’t play in a February 9, 2023, game against the Milwaukee Bucks. He also allegedly received $2,500 for a tip that Davis would see limited playing time against the Oklahoma City Thunder.In the poker scheme, Jones was among former NBA players used to lure unwitting players into rigged poker games. He was paid $2,500 for a game in the Hamptons where he was instructed to cheat. The poker scheme often made use of illegal poker games run by New York crime families that required them to share a portion of their proceeds with the Gambino, Genovese, and Bonnano crime families.Jones, who earned more than $20m playing for 10 teams in 11 seasons from 1999 to 2009, is a native of Galveston, Texas. He played alongside James in Cleveland from 2005 to 2008 and served as an unofficial assistant coach for James’s Los Angeles Lakers during the 2022-2023 season.

LIV Golf, a breakaway tour backed by Saudi Arabia's Public Investment Fund (PIF), is facing an uncertain future as the fund is expected to withdraw its support in 2026. This development has significant implications for the careers of several leading golfers who made lucrative switches to LIV. The PIF's expected withdrawal could leave many golfers in career limbo, with some, such as Bryson DeChambeau and Jon Rahm, potentially having a pathway back to the PGA Tour. However, the future for others who joined LIV is far more uncertain. The tour's executives recently attended a summit with the PIF in New York, where the financial impact of the Middle East crisis was discussed. LIV's chief executive, Scott O'Neil, has attempted to reassure staff and players that the tour's season will continue as planned, but the lack of commitment beyond 2026 has fueled speculation and concern. Since its inception in 2021, LIV is understood to have burned through more than $5bn of PIF money. Despite this, the tour has made strides towards becoming more commercially viable, attracting blue-chip sponsors such as Rolex and HSBC. The PGA Tour has smoothed a path for some LIV golfers to return, including Brooks Koepka and Patrick Reed. However, the scenario for others is far less obvious, particularly for those who lack the pull to return to the PGA Tour. The DP World Tour, formerly European Tour, may benefit from LIV's potential demise, given its willingness to re-engage with LIV players. The uncertainty surrounding LIV's future also has implications for women's golf in Europe, with the PIF Saudi Ladies International and other events potentially being affected if the kingdom diverts attention away from the sport.

The ongoing conflict between Israel and Iran has led to a substantial increase in global fuel prices, affecting Americans and forcing them to make difficult trade-offs. Many are struggling to access essential items, including medication and groceries, while others are facing financial insecurity and even homelessness.The impact of rising gas prices is being felt across various aspects of life, from accessing essential medicines to facing the brink of homelessness amid an already rising cost of living. For Mandy, a 42-year-old mother in central Utah, higher gas prices have made it harder to visit one of her children, who has disabilities and lives hours away.“Before [Donald] Trump and [Israeli prime minister Benjamin] Netanyahu started their war, gas in my town was $2.70 a gallon. Now it’s $4.19 and I’m terrified it’s going to go closer to $5 before all is said and done. One of our children is disabled and lives in a group home two and a half hours away,” she said.Rising gas prices are also affecting people’s ability to access necessary medication. Lisa, a 56-year-old living with disabilities on a tribal reservation in Oregon, said rising gas prices had disrupted her ability to access necessary medication.“My caregiver and I have had to cut back our trips to pick up my prescriptions, even though they are necessary. Because I live in rural Oregon, the basic necessities are 40 minutes away, so if a doctor calls in an additional prescription after I’ve already been in town for the week, that prescription has to wait for the following week for me to pick it up,” she said.The strain is also being felt by food banks and pantries. Melissa Meyer, chief executive of IPM Food Pantry in Cincinnati, Ohio, said rising gas prices had driven more people to rely on food pantries – even as those same costs strain the operations of local food banks and their volunteers.“Increased gas prices put additional costs on our operations as we must increase gas costs for picking up and delivering food across five counties of south-west Ohio … We are not cutting back our services in any way, yet,” she said.The rising cost of fuel is also having indirect effects, such as impacting small businesses and artists. Cathi Newlin, a 63-year-old ceramic artist in Sacramento, California, who also cares for her husband with Parkinson’s disease, said her income had been hit as consumers pull back.“A substantial portion of our household income is generated from the sale of my art and the classes I teach. These are surely luxury items in any economy but when people have to spend more on basics like gasoline, they don’t have as much money or desire to spend on art. The rise in oil prices very much affects my income and the price of my materials,” Newlin said.

Brazil's Federal Police have launched an investigation into Flavio Bolsonaro, a right-wing presidential candidate, for allegedly issuing defamatory statements against his election rival, President Luiz Inacio Lula da Silva. The probe was ordered by the Supreme Court's Justice Alexandre de Moraes and relates to posts Bolsonaro published in January.In the posts, Bolsonaro responded to the news of Venezuelan President Nicolas Maduro's abduction by the US with insinuations linking Lula to crimes. He wrote that Lula will be exposed and predicted the collapse of the left-wing alliance known as the Sao Paulo Forum due to scandals including international drug and arms trafficking and money laundering.Brazil's penal code considers defamation a criminal offence, with prosecutors able to seek heightened penalties for defamation against presidents or heads of state. The Federal Police have 60 days to carry out their initial investigation.The development comes as Bolsonaro and Lula are in a neck-and-neck race for the presidency ahead of October's general election. A recent poll showed Lula slightly ahead in the first round with 37% of the vote compared to Bolsonaro's 32%, but Bolsonaro polls slightly ahead in a one-on-one contest.Flavio Bolsonaro, a senator for Rio de Janeiro and the eldest son of former President Jair Bolsonaro, entered the 2026 presidential race with his father's endorsement. He has suggested that seeking his father's freedom would be part of his campaign.