OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Instagram Outage Disrupts Thousands of U.S. Users 
Shell or the Royal Dutch Shell plc, a British-Dutch oil, and gas company headquartered in The Hague, Netherlands, is set to pay $111 million or around £80 million for the oil spill that happened 50 years ago, in the 1970s.
The company’s Nigerian unit will be paying the local community to solve the long-running conflict over the incident. According to BBC News, the group’s lawyer, Lucius Nwosa, said that the oil giant will compensate the Ejama-Ebubu people with the said amount to officially end the legal dispute that began in 1991.
He added that on Wednesday, Aug. 11, Shell approached the Nigerian court to inform it about the latest development regarding the case. It was said that the compensation will mark the full and final settlement to the Ejama-Ebubu community for the oil spill during the Biafran War in 1967-70.
"They ran out of tricks and decided to come to terms," Nwosa said. "The decision is a vindication of the resoluteness of the community for justice."
Prior to Shell’s agreement to pay, the Nigerian court imposed a fine on the company in 2010 amounting to $41.36 million. However, this was not settled at that time, and it instead filed numerous appeals that were all unsuccessful.
Shell continued to say that the damage was caused by third parties and not them. In an attempt to clear the case, Shell also started international arbitration at the start of this year and said that it was not given a chance to defend itself against the allegations.
In any case, the dispute has been ongoing for decades because the pollution from the oil spill due to leaking oil pipelines continues to be a big problem in Nigeria, in the Niger Delta, to be more specific.
Meanwhile, DW reported that the Movement for the Survival of the Ogoni People (MOSOP) stated that they see the offer of compensation from Royal Dutch Shell as confirmation of the issues that the movement raised about the oil firm’s environmental devastation of Ogoni. Nnimmo Bassey, an Ogoni environmental activist, lauded the community that was affected by the oil spill as they did not give up the fight, and now they have claimed justice.
"The extent of pollution in the Niger Delta is massive and having to wait for 30 years before the case is ended has tried the patience of the people,” he said. “We really have to applaud the people for this."
