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SoftBank Raises $11.1 Billion in Record High-Yield Bond Sale

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SoftBank Group has raised $11.1 billion through dollar- and euro-denominated bonds, marking the largest high-yield corporate bond sale globally. The fundraising comes as the Japanese investment group seeks to finance its major investments in OpenAI and other artificial intelligence ventures, adding to a broader increase in corporate borrowing linked to AI.

The company issued dollar bonds across three maturities with interest rates ranging from 8.625% to 9.75%, along with two euro-denominated bond tranches yielding 7.125% and 8%. The borrowing costs are significantly higher than SoftBank’s 2021 bond sale, when yields ranged from 2.125% to 5.25%. SoftBank has also raised ¥1 trillion ($6.3 billion) through a recent bond issue aimed at retail investors.

SoftBank has committed about $64.6 billion to OpenAI and is pursuing additional deals, including acquisitions in robotics and digital infrastructure. The scale of its borrowing has increased scrutiny of its finances, while the cost of insuring its debt against default has risen. Analysts noted that SoftBank’s concentration in assets such as Arm and OpenAI has increased, although strong Arm share performance has provided some support to the company’s credit position.

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Netherlands to Return to Eurovision After 2026 Boycott

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The Netherlands will return to the Eurovision Song Contest in 2027 after skipping the 2026 competition. Dutch broadcaster Avrotros had withdrawn over concerns about Israel’s participation and said the contest could no longer be viewed as neutral amid divisions linked to the Gaza war.

The country’s public broadcasting body, NPO, said broadcaster NOS will handle Eurovision coverage, while an independent panel of experts will select the Dutch entry. NPO said the European Broadcasting Union (EBU) had made significant changes to the contest’s rules and stressed the importance of Eurovision’s role as a unifying European event.

The EBU has introduced measures including a rule preventing countries involved in armed conflicts from hosting the contest and proposed changes to voting rules over concerns about politically motivated voting. Eurovision director Martin Green welcomed the Netherlands back, while Avrotros said it remained unconvinced that the changes had fully restored the contest’s neutrality. The 2027 Eurovision final is scheduled for 14 May in Burgas, Bulgaria.

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French Literary World in Uproar Over Author’s Alleged AI Use

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French author Thélyson Orélien is facing allegations that artificial intelligence was used extensively to write his award-winning debut novel, C’était ça ou mourir. The 38-year-old Canadian-Haitian writer recently won the Prix du Roman Fnac and is also a finalist for the Goncourt and Renaudot literary prizes. A group called Balance ton Claude claimed that tests on several passages showed a strong AI-generated pattern, but Orélien has denied the allegations.

Orélien said he is working with his publisher to provide evidence that he wrote the novel himself. His publisher, Grasset, also defended him and described the accusations as damaging to a writer whose work is original. The novel follows a teacher fleeing gang violence in Haiti before eventually reaching Canada. Orélien has said its first draft was written in 2019, before generative AI tools became widely available.

The controversy has also renewed debate over the reliability of AI-detection software. Critics and researchers have pointed out that such systems can wrongly identify human writing as AI-generated and can also miss AI-written material, particularly after editing or paraphrasing. The dispute comes as the publishing industry continues to grapple with where to draw the line between human and AI-assisted creativity.

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Denmark Warns Russia Could Intensify Hybrid Warfare in Coming Months

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Denmark’s defence intelligence service has warned that Russia is likely to increase its hybrid warfare activities against Western countries and NATO in the coming months. The assessment points to a growing risk of attacks that could have greater consequences for targeted countries, amid heightened European concerns over sabotage and cyber threats.

The intelligence service said there is a low but growing risk of a limited military attack against one or more NATO countries bordering Russia. Potential actions could include drone or missile strikes on infrastructure supporting Ukraine, false-flag operations involving Ukrainian-made drones, or a limited deployment of Russian troops near a NATO border.

Intelligence chief Thomas Ahrenkiel said Russia’s objective could be to create divisions within NATO rather than seize territory. Meanwhile, Denmark’s Resilience Agency said Russia was likely to attempt destructive cyberattacks against Denmark and raised its threat level. Moscow has repeatedly denied involvement in hybrid warfare or sabotage operations in NATO countries.

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Italy’s Colosseum Closes After Worker Dies in Accident

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Italy’s Culture Minister Alessandro Giuli ordered the Colosseum in Rome to remain closed until Thursday following the death of 22-year-old technician Andrea Moretti in an overnight workplace accident. Moretti died after falling several metres while installing a new lighting system inside the ancient amphitheatre.

The Colosseum, built around 2,000 years ago, is Italy’s most visited tourist attraction and one of Rome’s most prominent landmarks. Prime Minister Giorgia Meloni expressed shock and sadness over the worker’s death, while Giuli also ordered the suspension of all construction and maintenance work at the site until further notice.

The initial decision to partially close the monument prompted protests from Italy’s largest trade union, CGIL, which called for a full closure and demanded clarification of the circumstances surrounding the accident. The incident comes less than a year after another worker died following the partial collapse of a medieval tower near the Colosseum.

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Azerbaijan Pardons French National After EU Drops Sanctions on Usmanov

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Azerbaijani President Ilham Aliyev pardoned French national Martin Ryan on Wednesday, shortly after the European Union lifted sanctions on Russian billionaire Alisher Usmanov. Ryan had been serving a 10-year prison sentence in Azerbaijan after being convicted of espionage in March. It was not immediately clear whether he had been released.

European diplomats told Reuters that France had privately indicated concerns that Azerbaijan was using Usmanov’s sanctions case to pressure Paris over French citizens detained in the country. Azerbaijan rejected the suggestion, saying its support for removing sanctions against Usmanov was based on its view that the measures were unjust. Relations between France and Azerbaijan have been strained for years, partly over France’s support for Armenia.

The EU’s decision to remove sanctions on Usmanov and fellow Russian billionaire Mikhail Fridman has also exposed differences among EU governments over policy toward Moscow. Ukraine has criticized the move and said it would seek to have sanctions reinstated. Ryan was among 19 people pardoned by Aliyev on Wednesday, including Azerbaijani, Turkish, Russian-Israeli and Pakistani citizens.

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Airtel Money Plans One of London’s Largest IPOs in Years

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Airtel Money, the mobile money business of Airtel Africa, is preparing to file for a London IPO that could become one of the city’s largest listings in recent years. The offering could raise around $800 million and value the company at approximately $8 billion to $9 billion, according to a source familiar with the matter. Details including the indicative price range and number of shares are expected in early October.

The IPO will be conducted through a secondary share offering, meaning existing shareholders will sell shares rather than the company issuing new ones. Airtel Money is expected to have a free float of at least 10% following the listing. The deal could provide a boost to London’s stock market, which has experienced a prolonged slowdown in major new listings.

Airtel Money CEO Ian Ferrao said the company sees relatively favourable market conditions and remains confident in London as its listing destination. The business operates across Sub-Saharan Africa and reported 38% revenue growth to £399 million in the quarter ended June 30, with around 53 million monthly active users. Airtel Africa is expected to remain a long-term investor after the IPO.

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Catalonia’s Far-Right Rise Reshapes Independence Politics as Migration Concerns Grow

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A growing focus on immigration, crime and housing is reshaping politics in Catalonia, with the separatist Aliança Catalana gaining support ahead of the region’s 2028 election. The party, led by Silvia Orriols, is polling behind Spain’s ruling Socialists and has made restricting migration and improving public safety central to its message.

Aliança’s rise is creating divisions within the broader independence movement. Traditional pro-independence parties have ruled out governing agreements with the party, while some have adopted more conservative positions on migration. A July Catalan government survey found that the party was attracting voters who had previously supported both the separatist Junts and the anti-independence Vox.

The shift comes as voters’ priorities change. Affordable housing, migration and crime topped concerns in a July survey, while support for Catalan independence stood at 45%. Aliança’s support has risen from 3.8% to 16.7% in voter intentions, according to an El Mundo poll cited by Reuters, highlighting the changing political landscape ahead of the next regional election.

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Pope Leo Urges Global Action to Protect Child Migrants

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Pope Leo on Wednesday called for greater global efforts to protect migrant and refugee children fleeing their homes in search of safety. Speaking to thousands of pilgrims at his weekly general audience in St. Peter’s Square, he highlighted the severe conditions faced by many young migrants.

The pope said migrant children can experience violence, torture, exploitation and other traumatic circumstances. He appealed to individuals and governments to take responsibility for protecting and assisting children affected by migration.

Leo made the remarks ahead of the Catholic Church’s World Day of Migrants and Refugees, which will be observed on Sunday. He did not name any specific countries in his appeal, but has previously spoken publicly about the treatment of migrants and immigration policies.

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Wheat Prices Rise as Black Sea Supply Disruptions Deepen

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Global wheat buyers are facing higher costs as disruptions to grain shipments from Russia and Ukraine tighten supplies. Chicago wheat futures have climbed around 40% from their June lows to a three-and-a-half-year high, while attacks on vessels and port infrastructure have severely reduced Black Sea cargo movements.

Importers across Asia, the Middle East and Africa are increasingly looking to alternative suppliers such as Australia, Argentina and France. Indonesian millers, for example, are paying around 20%–25% more for Australian wheat than previous Black Sea purchases. October shipments of Australian wheat are being quoted at about $345 per tonne, compared with around $340 for Romanian Black Sea wheat.

Egypt, one of the world’s largest wheat importers, has also seen a sharp decline in shipments from Russia and Ukraine and is diversifying its purchases toward European suppliers. With some mills operating at reduced capacity and importers waiting for potential improvements in Black Sea shipping, competition for alternative supplies could remain strong until the Southern Hemisphere harvest arrives later in the year.