Reuters World News - US strikes Nigeria, 1MDB ruling and Israeli settler violence

Episode Date: December 26, 2025

The U.S. carries out airstrikes against Islamic State militants in northwest Nigeria. American companies sell rights to potential tariff refunds to hedge funds for pennies on the dollar awaiting a Supreme Court ruling. Bedouin farmers say Israeli West Bank settlers have driven them from Palestinian-owned land using molotov cocktails. Plus, food makers introduce smaller portions and high-protein offerings as weight-loss medications grow more popular. Listen to Morning Bid podcast ⁠⁠⁠here⁠⁠⁠. Sign up for the Reuters Econ World newsletter ⁠⁠⁠here⁠⁠⁠. Listen to the Reuters Econ World podcast ⁠⁠⁠here⁠⁠⁠. Find the Recommended Read here. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hi, I'm Kim Vinal in Wanganui, New Zealand. It's Friday, December 26th. Today, the US attacks ISIS militants in northwest Nigeria. Companies hedge their bets on tariff refunds, selling the chance of being paid back, and Bedouin farmers in the occupied West Bank decry Israeli attacks. This is Reuters World News, bringing you everything you need to know from the front of lines in 10 minutes, seven days a week. The US has carried out air strikes in Nigeria, targeting Islamic State militants in the country's northwest. Video released by the US Department of War shows a missile being fired from a ship, although

Reuters couldn't independently verify the location or date. President Donald Trump announced the attacks in a truth social post, saying it's because the fighters have been targeting and killing Christians. Christians. U.S. foreign policy reporter Idris Ali says, according to the U.S. military command, the strike was done in coordination with Nigerian authorities. So what we do know is that this is the U.S. military essentially making good on a threat that President Trump had laid out in November when he said that, you know, he might turn to U.S. military to go after what he described were people who were attacking Christians in Nigeria.

Late Thursday night, we have seen the United States carry out a strike in what we believe is the Dakota State in the northwest of Nigeria against ISIS target. What we have heard from our sources is that multiple ISIS militants were killed. While there has been intracumunal violence in Nigeria for some time, authorities in the West African nation say it's not just targeted toward Christians and that Muslims are often the victims too. An attack on a mosque in Maduguri two days ago killed at least five people. Idris says even so, for President Trump, US attacks are framed as protecting Christian values.

He has now carried out strikes in Syria, Iran, and Nigeria. And that's not something you would necessarily imagine, you know, a president who said America first. On the other hand, there are people in the administration who would say, look, the United States is not getting embroiled in long. term conflicts here. The United States is carrying out individual strikes to against targets that are actually important to the United States. Speaking of President Trump, some companies are hedging their bets on how the Supreme Court will rule on the legality of his sweeping tariffs. They're selling the rights to any future tariff refunds for pennies on the dollar. It's the kind of deal Wall Street makes all the time, like betting on commodities futures or selling life insurance

packages. Economics correspondent Tim Arbell explains how it works for tariffs. I spoke to a company that had done this and they kind of described the whole process. It's called Kids 2. It's a toy maker based in Atlanta, but they make almost all of their toys in China at their own factory there. So they've been paying very heavily on the tariffs this year. And what they were able to do is find a hedge fund in Boston that was willing to pay them 23 cents on the dollar for the reciprocal tariffs and another nine cents on the dollar for tariffs that are associated with trying to stop fentanyl smuggling. So on about $15 million worth of tariffs, they received a check for $2 million, which for them is sort of money that they keep no matter what the outcome is. The company's point

of view is that they're estimating it's like a 50-50 chance. And also, they just went through an experience with trying to collect tax benefits from keeping employment during COVID. And it took them two years to get fully reimbursed for that. So there's kind of I'm thinking, you know, if these tariffs are ruled unconstitutional and refunds are ordered, it's going to be a long and complicated process. So their money now is worth more than the risky chance of money in the future. The Supreme Court heard arguments in November, but there's no timeline for when to expect the ruling. Malaysian former Prime Minister Najib Razak has been found guilty on four counts of abuse of power

in the biggest trial yet in the multi-b billion dollar one MDB. scandal. Investigators say at least $4.5 billion was stolen from a state fund that Najib co-founded in 2009 while in office. The ruling could have serious political repercussions and may test the survival of the ruling coalition led by Prime Minister Anwar Ibrahim, as it includes Najib's Amno party. Najib, who is already in prison, could face between 15 and 20 years jail time on each charge. Japan has approved a record $785 billion budget for next year, as Prime Minister Saniateaichi looks to balance proactive fiscal policy with debt concerns by limiting new bond issuance. Facing rising government bond yields and a weak yen, the administration is trying to

reassure investors it won't resort to irresponsible debt issuance or tax cuts. In the occupied web, Best Bank, Bedouin farmers say they've been chased off Palestinian land with Molotov cocktails. Attacks, they say, came from Israeli settlers at Ormaiyr settlement. Settlements like Ormire are often small, sometimes just a few caravans. Their goal, reporter Pesha Magid says, is to establish Israeli control in strategically important locations. They openly speak about the outpost existing in the place. where they put it for a strategic reason, which is to control one of the main roads

going through the occupied West Bank and to also control the land surrounding the outpost and expel Palestinians from that land. Pesha says the Israeli settlers even set up a telegram group where they celebrated chasing out the Bedouin herders. Israeli politicians, including Prime Minister Netanyahu, have been saying that much of the violence in the West bank that has been coming from settlers, comes from a small extremist minority. But what this

telegram group and what this outpost shows is that, in fact, the placement of these outposts and then the violence that later springs for them seems to be very well-planned and very strategic. Israel's military told Reuters dozens of Israeli civilians set fire to property in Dia de Bois on the night in question, but that all suspects had fled by the time security forces arrived. This year was one of the most violent on record in terms of Israeli civilian attacks against Palestinians in the West Bank. And Pesha says that's having an impact. At least a few Bedouin herder communities have since been expelled from their homes when settlers came, burn their homes to the ground. The other thing is that because there has been so much violence and so many attacks from settlers in the area after the building

of these outposts. The villagers in Derdiwan say that they can no longer access the farming land. So it has essentially fragmented that West Bank even further, which has been the open goal of many prominent Israeli politicians. And the villages essentially become Canton's people don't feel like they feel safe leaving the bounds of the village because of the amount of violence that exists in the hills now. Palestinians in Gaza were a key part of Pope Leo's first Christmas sermon delivered from the Vatican. The Pope's remarked our justice,

peace and stability for Lebanon, the Palestine, Israel, the Syria. The Pope's remarks stand out from past sermons being unusually direct. He also spoke about migrants and refugees who, quote, traverse the American continent, as well as calling for an end to the war in Ukraine, conflicts in Thailand and Cambodia,

Myanmar and Sudan. And for today's recommended read, if in your holiday festivities you have over-indulged, packaged food makers and fast food restaurants may surprisingly be able to help. Weight loss medications, which analysts think will only get more popular because of the pill versions hitting the market,

are causing food makers to turn to smaller portioned, high-protein offerings, among other changes. There's a link to that story in the podcast description. First, though, we've got to get through our leftovers. For more on any of the stories from today, check out Reuters.com or the Reuters app. Don't forget to follow us on your favourite podcast player. If you're listening on a smart speaker,

just ask for the latest news from Reuters seven days a week. We'll be back tomorrow with our daily headline show.