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Markets bet on three interest rate hikes as UK inflation shock looms
The continuing rise of oil and gas prices is threatening another inflation shock for UK households amid fears of multiple interest rate hikes this year.
With the US and Iran locked in a war which has seen the Strait of Hormuz closed off, the rest of the world is set to pay the price, with higher energy costs driving up prices in transport, fuel and production.
Rising costs mean inflation figures will be pushing higher once more. It comes just as data was showing inflation returning towards the chancellor Rachel Reeves’s 2 per cent target after three years.
One of the major methods to combat inflation is for central banks to raise interest rates, so money market traders are betting on up to four rate hikes throughout 2026, compared to a prediction of two cuts for the year as recently as four weeks ago.
“The latest bout of volatility reflects markets beginning to price in meaningful medium‑term damage to Western economies,” Jonathan Raymond, investment manager at wealth management experts Quilter Cheviot, said.
“The UK and Europe look more exposed than the US because of their reliance on imported energy, and that is now feeding into expectations of weaker consumer spending, softer growth and pressure on corporate earnings.”
It is important to note the fact that traders are making bets on the markets does not always mean the central bank, in this case the Bank of England, will also react.
Bets made on the market by selling off bonds (or gilts) send the yield higher. Buying them has the opposite effect. The two-year UK gilts yield at 11am GMT stood at 4.7 per cent, just shy of a full 1 per cent higher than the actual BoE base rate, which stands at 3.75 per cent after last week’s 9-0 vote to hold. In very simple terms, that suggests the markets are pricing in for the interest rate to go higher, up to that 4.7 per cent point, which when translated to MPC voting terms means they’d have to opt to raise (almost) four times to reach it.
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However, markets can shift very quickly in both directions when external events – such as political leaders making statements – dictate a potential change of course.
As an example, Donald Trump’s comments about having had “productive conversations” with Iran immediately saw the same market drop to 4.55 per cent; in MPC terms, therefore, back to only three interest rate hikes.
Bets in the market are not the same as actual predictions of what happens six months down the line; they are, in part, traders taking short-term positions which they may quickly sell again within short timeframes.
Matthew Amis, investment director at wealth manager Aberdeen, is one of those who believes traders in the market have overdone it for the current circumstances and does not believe such sharp rises in the interest rate are imminent.
“We don’t think Bank of England communication was as hawkish as the market move suggests,” he said. “Governor Andrew Bailey did not sound like a man who was going to raise rates three times by September. With regards the fiscal package offered by the Labour administration, only time will tell, but note the April price cap already protects consumers somewhat until the July price cap is announced in May.
“All the gilt market needs is people to starting buying. However, to do that we need some confidence and to get that we need de-escalation in the Middle East.”
In terms of the BoE raising interest rates, the difficulty comes with a poorly performing economy, rising unemployment and other domestic economic factors, most of which at present point to needing rate cuts. This is why, before the missiles started to fall, the expectation was on a cut to 3.5 per cent in March or April.
“Central banks are in a tough spot. They cannot afford to let inflation expectations drift higher, yet labour markets are already weakening and any further tightening risks amplifying that slowdown. The result is a policy backdrop that feels tougher than the data would normally warrant, which is amplifying the swings we are seeing across equity markets,” said Mr Raymond.
Analysts at Barclays, in fact, think the BoE will refrain from making any changes whatsoever.
“We expect Bank Rate to stay at 3.75 per cent for the rest of this year. We assess that keeping policy this restrictive for an extended period is sufficient to bring headline CPI inflation back to 2 per cent in two years time, consistent with the BoE’s mandated target,” a research note from Jack Meaning on Friday read.
KPMG, meanwhile, is in fact sticking to a potential cut still coming later in 2026. “The Bank of England is expected to take a cautious approach to monetary policy. KPMG UK forecasts that interest rates will be cut only once this year, as policymakers remain concerned about persistent inflationary pressures,” said chief economist Yael Selfin on Sunday.
“Further rate cuts are now likely to be delayed until 2027, as the Bank balances the risks of rising prices against a weakening labour market and sluggish economic growth.”
The BoE will also need to weigh what has already happened in Iran against what they are guessing happens next.
“Inflation is expected to rise in March as the initial impact of higher fuel prices begins to show up in the official data,” explained Thomas Pugh, chief economist at audit and tax firm RSM UK.
“As pump prices rise to around £1.60 per litre by April, we expect inflation to fall only a little, compared to slowing to 2 per cent as previously forecast. Further ahead, the rise in natural gas prices will see Ofgem increase the energy price cap in July, exerting further upwards pressure on inflation and taking it back over 3 per cent.”
Oxford Economics has an even higher expectation of inflation hitting 4 per cent in the latter half of 2026, before falling back.
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5 signs you might be a toxic co‑worker
Toxicity often hides in subtle behaviour: interrupting frequently, finishing others’ sentences, “forgetting” to loop someone in on emails, or subtly questioning their competence in meetings. These micro‑actions chip other’s confidence and create a sense of exclusion. If you’re the one people feel they have to “be careful around,” or if you’re often the last to know about decisions, it might be a sign that your behaviour is pushing people away. Becoming more aware of how you listen, respond, and include others—such as letting them speak fully, giving credit, and actively looping them in—turns your impact from harmful to helpful, and helps you become the kind of co‑worker people genuinely want to work with.
LaGuardia Airport shut down after regional Air Canada plane collides with vehicle, killing 2, officials say
A regional Air Canada jet collided late on Sunday into a Port Authority airport vehicle at LaGuardia Airport in New York, an on-the-ground crash that demolished the front of the airplane, killed two pilots, injured dozens of passengers and prompted the airport to shut down on Monday morning, law enforcement and aviation officials said.
At least 41 people were transferred to local hospitals after the plane, which was operated by Jazz Aviation, struck a rescue-and-firefighting vehicle that had been “responding to a separate incident,” a Port Authority spokesperson said in a statement. Two of the injured were Port Authority officers and the other 39 were passengers, officials said.
“The airport will remain closed until at least 2 p.m. Monday to allow for a thorough investigation,” the authority said.
An Air Canada Express CRJ-900 sits on the runway after colliding with a Port Authority fire truck last night at LaGuardia Airport in New York City, March 23, 2026.
Timothy A. Clary/AFP via Getty Images
The collision happened shortly after the plane, Air Canada Flight 8646, which was carrying four crew members and 72 passengers, touched down, according to Port Authority Executive Director Kathryn Garcia.
Jazz Aviation, which is based in Halifax, Nova Scotia, issued a statement confirming the incident, saying it happened at 11:47 p.m. Air Canada said on social media that it was “aware of an incident” and that Jazz Aviation would issue updates as needed.
All passengers have been accounted for, Garcia told reporters at a pre-dawn press conference at the airport. An unaccompanied minor on the plane was reunited with their family, she said.
Port Authority Executive Director Kathryn Garcia speaks during a news conference at LaGuardia Airport after a collision between an Air Canada jet that had just landed and a Port Authority firetruck, Monday, March 23, 2026, in New York.
Ryan Murphy/AP
Thirty-two of those who had been transferred to the airport were later released, Garcia said, adding that several others had serious injuries. Two Port Authority police officers who were injured — a sergeant and an officers — were in stable condition at the hospital, she said.
The regional jet involved in the collision had traveled from Montreal to New York, according to Flightradar24, a flight information tracker. The cause of the crash was not immediately clear. Preliminary information appeared to show that the flight had landed on Runway 4 and was rolling down the runway when the collision occurred.
A Port Authority fire truck sits near the runway after colliding with an Air Canada Express CRJ-900 at LaGuardia Airport in New York City, March 23, 2026.
Timothy A. Clary/AFP via Getty Images
The National Transportation Safety Board said it was sending a team to investigate the crash. Chair Jennifer Homendy will serve as the on-scene spokesperson, accompanied by member John DeLeeuw, according to the NTSB. Those investigators were on site by the time Garcia spoke at about 4:30 a.m. ET, according to the Port Authority.
New York City Emergency Management said in a statement that its first responders were present at the airport, adding that the initial response from the Fire Department had ended.
“Units will remain on scene with a watch line that includes one engine, one ladder, and one battalion chief,” the NYCEM’s statement said. “The NTSB is on scene leading the investigation.”
Cancelled flights are displayed on a screen at Terminal B in LaGuardia Airport, March 23, 2026 in New York City.
Michael M. Santiago/Getty Images
Teams from Air Canada and Jazz Aviation were headed to LaGuardia and the airline said it was cooperating with both the NTSB and the Transportation Safety Board of Canada in the investigation. The Canadian authorities will be involved as a party to the investigation as the plane was operated by a Canadian carrier, but the NTSB will be leading the investigation since the collision occurred in the United States.
The pilot and the co-pilot of the plane were killed in the crash, multiple officials briefed on the situation said earlier. The New York City Chief Medical Examiner’s Office was on-scene early on Monday, and officials were awaiting confirmation of the identities of those who were killed. Next of kin were to be notified before their names were released, officials said.
An Air Canada Express CRJ-900 sits on the runway after colliding with a Port Authority fire truck at LaGuardia Airport in New York, on March 23, 2026.
Angela Weiss/AFP via Getty Images
The ground vehicle — a Port Authority Aircraft Rescue and Firefighting — had requested permission and had been cleared by the air traffic controller to cross Runway 4 at taxiway Delta, according to audio recordings. Shortly after that permission was granted, an air traffic controller was heard telling the vehicle to stop several times right before the collision, according to the recordings.
At least 18 flights have been diverted from LGA following the airport’s closure, with most being sent to New York’s John F. Kennedy International Airport or to New Jersey’s Newark Liberty International Airport.
A union official had earlier told ABC News that there were two individuals who had been injured in the crash, saying they were Port Authority police officers assigned to firefighter duty at LaGuardia Airport.
Iran built a vast camera network to control dissent. Israel turned it into a targeting tool
TEL AVIV, Israel — The role of Israel’s hijacking of Iran’s street cameras in the killing of the country’s supreme leader underscores how surveillance systems are increasingly being targeted by adversaries in wartime.
Hundreds of millions of cameras have been installed above shops, in homes and on street corners across the world, many connected to the internet and poorly secured. Recent advances in artificial intelligence have enabled militaries and intelligence agencies to sift through vast amounts of surveillance footage and identify targets.
On Feb. 28, Israel vividly demonstrated the potential of such systems to be hacked and used against adversaries when Israel tracked down Iranian leader Ayatollah Ali Khamenei with the help of Tehran’s own street cameras – despite repeated warnings that Iran’s surveillance systems had been compromised, according to interviews and an Associated Press review of leaked data, public statements and news reports.
The use of hacked surveillance cameras among other intelligence in the operation to kill Khamenei was described to the AP by an intelligence official with knowledge of the operation and another person who was briefed on the operation. Neither was authorized to speak with the media and both shared information on condition of anonymity.
Iran has installed tens of thousands of cameras in its capital in response to waves of protests, most recently in January, when massive nationwide demonstrations ended in a bloody crackdown that killed many thousands of Iranians.
That Tehran’s cameras were compromised was no secret: the city’s cameras were repeatedly hacked starting in 2021, and last year, a senior Iranian politician warned publicly that cameras had been compromised by Israel, posing a national security threat.
Conor Healy, director of research at surveillance research publication IPVM, said Khamenei’s killing illustrates a pressing security dilemma for governments seeking to quash dissent.
“The irony is that the infrastructure authoritarian states build to make their rule unassailable may be what makes their leaders most visible to the people trying to kill them,” Healy said. “Do you trust who is watching?”
For years, cybersecurity experts have warned that cameras could be hacked for war.
In 2019, security engineer Paul Marrapese discovered he could easily hack millions of cameras from the comfort of his home office in California.
Despite speaking up repeatedly since, the number of unprotected cameras only continues to grow. A scan of unprotected camera feeds this year turned up nearly three million hits in almost every country in the world, Marrapese told AP, including nearly 2,000 cameras in Iran alone.
“There are millions and millions and millions of these throughout the world,” Marrapese said. Many, he added, are trivially easy to hack: “They’re just dumb little things. … It’s fish in a barrel.”
Companies have advertised cameras hooked up online, accessible with cellphones, with feeds easily diverted by hackers. Many are installed with minimal security by unsophisticated users who fail to set up passwords or install security patches. Securing cameras takes constant vigilance, but hacking them takes identifying just one exposed vulnerability, such as an outdated system or a generic password like “1234.”
Even surveillance systems set up by governments on networks sealed off from the internet are vulnerable: It takes just one insider turncoat to compromise such systems.
“Humans are kind of the weakest link,” Marrapese said. “There’s really only so much you can do.”
Eyal Hulata, Israel’s former national security adviser and a senior fellow at the Foundation for the Defense of Democracies, said Israel is under constant cyberattacks from Iran but has so far been able to defend against it.
“There is high alert on all cyber fronts,” he said.
For years, hacking cameras for war remained theoretical. But in 2023, Hamas hacked surveillance cameras in southern Israel ahead of its Oct. 7 attack, allowing the group to monitor Israeli army patrols and assisting the attack, according to Israeli media. That same year, a Ukrainian official told reporters that Russia attempted to hijack cameras near missile targets, a trend that continued in 2024 when Russians hacked cameras in Kyiv and last year, when they hacked cameras at border crossings.
Experts say advances in AI have allowed militaries to overcome a critical hurdle in weaponizing hacked footage: sifting through huge amounts of video to identify people, vehicles, and other targets, a task that once took teams of analysts weeks or months but can now be done in real time. With a simple keyword search, AI can scan feeds and return results almost immediately.
“It used to be that you could hack the cameras, but humans had to do the real work of figuring out where the person was,” said cryptographer and security expert Bruce Schneier. “With AI systems … you can do a lot more automatically.”
Iran’s cameras have been repeatedly hacked over the past few years.
In 2021, an Iranian exile group leaked footage of abuses at Tehran’s notorious Evin prison. In 2022, another group claimed it hacked over 5,000 cameras around Tehran, dumping gigabytes of surveillance footage and internal data on a Telegram channel.
Then, during a 12-day war last summer, Israel used Tehran’s cameras to track and bomb the location of a meeting of Iran’s Supreme National Security Council, injuring Iranian President Masoud Pezeshkian, according to Iranian lawmakers and an Israeli documentary.
“All the cameras at our intersections are in the hands of Israel,” Mahmoud Nabavian, deputy chairman of the Iranian parliament’s national security committee, told Iranian media in September. “Everything on the internet is in their hands … if we move, they will find out.”
The vulnerabilities have come amid Iran’s stepped-up use of surveillance cameras after a series of protests roiled the country. Subway cameras, for example, are used to detect when women don’t don the country’s mandatory hijab, or headscarf, using facial recognition to identify violators.
But data collected to consolidate control creates a ripe target for hackers, said researcher Michael Caster, who investigated China’s sales of surveillance technology to Iran.
“Malicious parties can more easily gain access,” Caster said.
Iran in particular, long sanctioned by the West, faces difficulties in getting up-to-date hardware and software, often relying on Chinese-manufactured electronics or older systems. Pirated versions of Windows and other software are common. That makes it easier for potential hackers to target the country.
The Financial Times earlier reported on the use of cameras in Khamenei’s killing.
The person briefed on the operation who spoke to the AP said that for years almost all the traffic cameras in Tehran had been hacked and the information transferred to servers in Israel. At least one camera was at an angle that allowed Israel to track daily movements of people, such as where they parked their cars near Iran’s leadership compound, the two people said.
Algorithms helped provide information including people’s addresses, routes they took to work and who protected them, according to the person briefed on the operation. That same person said the attack had been planned for months, but the operation was expedited once it was determined that Khamenei and his top officials would be in the leadership compound that morning.
Israel’s prime minister’s office didn’t respond to request for comment.
Col. Amit Assa, a former official with Israel’s Shin Bet domestic security service, said that such operations are powered by many sources of intelligence, such as undercover agents and bugged conversations.
However, Assa says cameras play a key role because they allow intelligence officers to identify people, providing key confirmation in deciding on whether to strike.
When you see a person’s face on a screen in the command center, it helps in making the decision to put your “finger on the yellow button, as we say,” he said.
Check Point Research, a cyber threat intelligence group, says Iranian hacking attacks on cameras have spiked since the beginning of the war, with surges of activity in Israel and Gulf countries such as Bahrain and the United Arab Emirates.
Such hacks could help Iran monitor targets and assess damage after missile strikes, according to Gil Messing, Check Point Research’s chief of staff.
“The more people are installing cameras … the more area is being covered by these cameras,” Messing said. “It is very easy to use in order to get extra eyes into different places.”
Analysts estimate there are more than one billion security cameras installed worldwide, triple the number a decade ago. Hundreds of millions more are installed every year.
Muhanad Seloom, assistant professor in security studies at the Doha Institute for Graduate Studies, said that oil-rich Gulf countries like Qatar have long known their petroleum facilities could be targeted in a war and had their systems tightly secured. But only recently have officials in the region realized that street cameras, too, could be weaponized.
“I don’t think anyone anticipated that these traffic cameras would become targeting tools … there is alarm all over,” Seloom said. “How come Iran’s whole leadership has been decapitated on the first day? … It is a topic that is being talked about.”
Across the region, governments are on high alert.
Gulf monarchies have barred residents from filming or livestreaming footage of Iranian strikes, with the UAE arresting dozens of people for sharing video of the conflict online. Though aimed in part to protect the country’s reputation, the bans are also motivated by concerns that such footage could be exploited by the Iranian military, Seloom said.
Earlier this month, Israel’s National Cyber Directorate said that it had warned hundreds of camera owners targeted by Iran and urged the public to change passwords and update software to starve off attacks.
Ali Vaez, Iran project director at the International Crisis Group, said though hacking has long been a concern in the Middle East, its increasing use since the war began was “a wake-up call”.
Still, he said there’s only so much that can be done to patch up vulnerabilities.
“It’s a whack-a-mole,” Vaez said.
—-
Kang reported from Beijing.
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Contact AP’s global investigative team at [email protected] or https://www.ap.org/tips/.
Power Couple of Chaos: How a tycoon and activist built a ‘Revolutionary Base’ at the House of Singham
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Washington, D.C. – Part 1 of a five-part Fox News Digital series investigation follows the money that created the “Revolutionary Base” for a transnational network of organizations allegedly waging cognitive warfare on U.S. citizens on behalf of the Chinese Communist Party.
As far-left American activists flood Cuba to support its flailing communist regime, U.S. officials have opened a sprawling investigation into an anti-America, pro-China nonprofit network forged during a wedding celebration in late February 2017, off Runaway Bay on Jamaica’s northern coast.
There, beneath a canopy of palm trees, an elite cadre of activists, intellectuals, celebrities, political organizers and comrades in a global Marxist-Leninist-Maoist movement assembled to celebrate the “Revolutionary Love” of two luminaries, both 62 at the time: Neville Roy Singham, an American-born tech tycoon living in Shanghai, and Jodie Evans, a red-haired veteran activist and co-founder of CodePink Women for Peace.
Like the opening scene of “The Godfather,” where powerful families consolidate power, the wedding celebration was about much more than the union of two people.
Over four days of dancing, lectures and late-night conversations in venues from the Flavor Beach Bar to Sharkey’s Seafood, celebrating the bond of “Roy and Jodie,” alliances were formed that would shape protests, unrest and political agitation over the next decade, from the fiery 2020 scenes in Minneapolis to demonstrations today supporting the regimes in Cuba and Iran.
That weekend, Vijay Prashad, an academic described in the official wedding itinerary as a “Marxist intellectual,” spoke on a panel, “The Future of the Left.” Medea Benjamin, Evans’ friend and CodePink co-founder, danced barefoot at the wedding in a bright Indian outfit.
FAR-LEFT ACTIVISTS STAY IN 5-STAR CUBAN HOTEL AS ISLAND SUFFERS TOTAL BLACKOUT
On Feb. 14, 2018, Jodie Evans, co-founder founder of CodePink, and Neville Roy Singham, founder of Thoughtworks, attend “V20: The Red Party,” a 20th anniversary celebration of V-Day and The Vagina Monologues, featuring a performance by playwright Eve Ensler and an after-party at Carnegie Hall in New York City. (Dave Kotinsky/Getty Images)
Mao’s Blueprint for the ‘People’s War’
According to sources, the wedding attendees invoked the teachings of Mao Zedong, the 20th century Chinese Communist Party leader who ruled China with an iron fist, inspired by Karl Marx and Vladimir Lenin, and they discussed how to mobilize the masses to wage a Maoist “People’s War.”
“The revolutionary war is a war of the masses,” Mao said in 1934.
Many were themselves relics of the Cold War, growing up before the Soviet Union was dismantled in 1989.
A months-long Fox News Digital investigation pinpoints the Jamaica wedding as a starting point for launching a network of organizations that is today waging a new “People’s War” on America, aligned with the Chinese Communist Party’s geopolitical ambitions to eclipse the U.S. as a superpower through economic programs like the “Belt and Road” initiative, realizing the vision of China’s ideological godfather, Mao, through trade partnerships, economic deals and pro-China propaganda.
National security experts call it cognitive warfare.
Over almost a decade, Fox News Digital has learned, Singham and Evans have activated a global network that now numbers an estimated 2,000 hard-left organizations that parrot anti-U.S. propaganda supporting autocratic regimes leading China, Russia, Iran, Cuba, North Korea, Venezuela and Gaza. Within activist circles, far-left critics refer to leftists who align with authoritarian regimes as “tankies.” Many groups and leaders from Singham’s network, including Evans and Benjamin, are part of the pro-communist convoy now in Cuba.
Fox News Digital has established a documented $278 million that flowed from Singham into organizations that “sow discord” in the U.S., as House Ways and Means Chair Jason Smith put it recently at a hearing on foreign malign influence in the nonprofit industry.
According to the data, Singham created a base from which the U.S. is now one of the world’s most prolific exporters of radical pro-China communist ideology. Singham and Evans didn’t respond to requests for comment.
CUBAN EXILES IN MIAMI SAY ‘THIS IS THE END’ FOR COMMUNISM AS ISLAND TEETERS ON COLLAPSE
Writer Xi Van Fleet survived Mao’s brutal Cultural Revolution. (Xi Van Fleet)
‘Mao’s Dream for a People’s Army’
Xi Van Fleet, a Chinese American who survived Mao’s purge of innocents during the Cultural Revolution, told Fox News Digital that Singham and Evans are following the communist dictator’s playbook.
“Neville Roy Singham and his wife, Jody Evans, are bringing into the 21st century Mao’s dream for a People’s War,” Van Fleet said.
Mao’s doctrine of the People’s War emphasized long-term struggle through decentralized networks, ideological indoctrination and the mobilization of civilian institutions rather than direct military confrontation.
“They are bringing to the streets America’s worst nightmare of a Red Army that is seeking to destroy the United States and make China more competitive on the world stage,” said Van Fleet, the author of “Made in America: The Hidden History of How the U.S. Enabled Communist China and Created Our Greatest Threat.”
FAR-LEFT NONPROFITS IN THE HOT SEAT AS LAWMAKER EXPOSES THEM FOR ‘SOWING CHAOS’ IN US
Neville Roy Singham advocates the communist ideology of Mao Zedong, founder of the Chinese Communist Party. (Jim Spellman/WireImage)
‘Adorable Troublemaker’
Singham grew up familiar with Mao’s dictates.
He was born in mid-May 1954 in Middletown, Conn., the son of Archibald Singham, a Marxist-Leninist scholar of Sri Lankan heritage, and Shirley Hume, who also adhered to far-left ideology. By his own account, he joined the League of Revolutionary Black Workers as a teenager and worked at a Chrysler assembly line in Detroit.
FBI agents once attempted to interview him at the Chrysler Eldon Avenue Plant, noting in their report that he was “potentially dangerous” because of his “background, emotional instability” or role in groups involved in harmful activities “inimical to U.S.,” according to a copy of the FBI report released by the House Ways and Means Committee.
According to the FBI report, Singham told the agents, “I don’t want to talk to you,” and walked away.
Singham quietly built his Thoughtworks technology company through the 1990s. Meanwhile, Evans was campaign manager for Democratic politician Jerry Brown’s losing 1992 California governor’s race.
After they exchanged vows in Jamaica, Evans called Singham her “adorable troublemaker,” her “darling Roy” and “adorable husband” in Instagram posts.
5 Rings, 2,000 Groups
Fox News Digital analyzed 223 transactions that moved $591 million in total across five continents from 2017 through 2025, the latest year available, and found the money flows through five concentric rings of an ideological pipeline that spreads pro-China propaganda:
- Level 1: Singham allegedly set up a system to funnel tax-exempt dollars through two apparent shell corporations and a donor-advised fund, GS Donor Advised Philanthropy Fund For Wealth Management Inc., which is closely associated with Goldman Sachs. Wealthy patrons can hide donations as anonymous, experts say. Revealed here for the first time, Goldman Sachs spokesman Tony Fratto said the company’s philanthropy arm “terminated” Singham’s donor-advised fund in February 2024.
- Level 2: Singham poured a documented $278 million from the three organizations into six nonprofits – five created virtually overnight with Evans on the board of several and the sixth being Evans’ longtime agitation project, CodePink. The six organizations are BreakThrough BT Media, CodePink, Justice and Education Fund Inc., People’s Forum Inc., People’s Support Foundation Ltd. and Tricontinental Ltd.
- Level 3: Those six nonprofits have pumped about $163 million into 52 organizations – including themselves – and, importantly, five regions identified only by geography.
- Level 4: Over this period, 11 groups have distributed $150 million into four nonprofits and five geographic regions, including $23 million to Sub-Saharan Africa.
- Level 5: The network doesn’t stop where the money trail ends, because 67 core groups partner with hundreds of groups worldwide, creating a network of about 2,000 organizations worldwide.
On April 16, 2016, Jodie Evans and Neville Roy Singham attended the premiere of “Shadow World” at the 2016 Tribeca Film Festival at Regal Battery Park 11 in New York City. (Jim Spellman/WireImage)
Singham Emerges
Last November, Singham walked through the doors of the Golden Tulip hotel in Shanghai for one of his rare public appearances, a two-day “Global South Academic Forum” conference blessed by the country’s ruling Chinese Communist Party, which the government officially calls the Communist Party of China, or CPC.
Videos and images from the conference provide a rare public window into the messaging, symbolism and participants of a network that otherwise operates opaquely.
The opening talk featured Prashad, Singham’s wedding guest, releasing a 172-page treatise written by Singham, chairman of the “International Advisory Board” of Tricontinental, a think tank Singham had funded and one of the conference sponsors. Another co-sponsor was the East China Normal University, which is administered by the Communist Party of China.
In the report, “80th Anniversary of the Victory of the World Anti-Fascist War: Acknowledging Who Truly Saved Human History and Restoring Historical Truth,” which Fox News Digital has uncovered, Singham rewrote the history of World War II to elevate the role of China and the “Global South” in defeating Nazi Germany.
On page 61, Singham blasted the West but held out hope it could be defeated.
“Socialist peoples and leadership can defeat imperialism in any form – fascist then, hyper-imperialist now – despite every material disadvantage,” he argued. “That victory required genius, courage and unimaginable sacrifice. It also proved something imperialism cannot accept: ordinary people, organised and led with brilliance, can defeat any empire.”
Singham then quoted Mao, saying that the brutal leader “crystallized this truth” in his book “On Protracted War,” when he wrote, “The richest source of power to wage war lies in the masses of the people.”
In the paper, Singham diminishes the deaths of U.S. and British troops and servicemembers, writing that the Soviets and China really won the war with, “59.8% socialists dead, 13.1% colonised peoples dead – only 1% Anglo-Americans dead.”
He also condemns British leader Winston Churchill’s “genocidal impulses.”
About 23 minutes into his remarks, Prashad welcomed Singham on stage with two other colleagues and Singham took a bow to the applause of the audience members and said, “Thank you, comrades, friends.”
In a video of the event, unearthed by Fox News Digital, Singham railed against “the fascist lie” of the West that “there is a battle between fascism, democracy and communism.”
Singham articulated a view of global power that challenges the Western understanding of World War II and the postwar international order.
“Fascism is actually a face of capitalism and imperialism, as is colonialism. These are the three faces of a system that is quite now becoming very dangerous for us.”
He didn’t identify “us.”
In the clip, Singham describes a “rules-based international order” that he argues is built on a “lie” about democracy. The excerpt is included for the purpose of reporting and analyzing the content of his remarks.
He talked about the Americans and “their” failure to hold fascists accountable from the “anti-fascist” war.
“If we want to, therefore, have a new world order that is based on multilateralism that President Xi and CPC and China have proposed, we have to undo the ideological damage that has been done by the narrative of World War II,” he said, using the acronym for the Communist Party of China, called CCP in the West.
He ended by recognizing Soviet and Chinese fighters who died during World War II, and he urged the group to “honor” them for their underappreciated sacrifice.
“China has a very important role, and we, in this forum, have a very important role,” Singham said, “that to envision a new order, a new multi-polarity order, requires, quite frankly, the deconstruction, a restorationist history of what really happened, who really suffered. Of those who died, almost 70% of the people who died in World War II were in China and the Soviet Union.”
The comments reflect a broader ideology that reframes historical events and positions China’s communist system as the better alternative to Western “democracy.”
Marxist tycoon Neville Roy Singham stands (7th from right) with participants of a Global South Academic Forum he co-sponsored with Tricontinental Institute and East China Nomal University, which is managed by the Ministry of Education and the Chinese Communist Party. His friend and Tricontinental executive Vijay Prashad stands nearby (6th from left), along with Lu Xinyu, a dean and professor at East China Normal University (3rd from right). (Global South Academic Forum)
Asked about Singham, Liu Pengyu, a spokesman for the Embassy of the People’s Republic of China in Washington, D.C., told Fox News Digital, “I am not familiar with the specifics of this particular case.”
Pengyu added, “As a matter of principle, however, China consistently upholds the principle of non-interference in the internal affairs of other countries.”
WATCH: HARDCORE SOCIALIST GROUPS STAGE-MANAGE ANTI-ICE PROTEST IN WASHINGTON
President Donald Trump and President Xi Jinping. (Andrew Caballero-Reynolds/Getty Images)
Asymmetric War Machine
As part of this investigation, Fox News Digital tracked street protests from New York City to Berkeley, Calif., and built a database with thousands of pages of IRS tax filings, corporate records, social media posts, website content and other material.
The investigation analyzed 1,663 events the People’s Forum hosted from early August 2018 and its most recent gatherings early this year. The events included academics and researchers from at least 225 colleges and universities that are being analyzed separately.
The scale of what the couple built goes far beyond anything previously documented, revealing a network that acts like a transnational, asymmetric propaganda machine. It features a central headquarters, substantial war chest, defined command structure, propaganda wing and street-level foot soldiers. Its operations extend beyond the United States into multiple overseas theaters.
FOX NEWS DIGITAL ANALYSIS: HOW MINNEAPOLIS AGITATOR NETWORKS USE INSURGENCY TACTICS TO HINDER ICE
‘Terrorist’
At a protest in Lower Manhattan in early January, David Chung, organizing director at the People’s Forum, and Hannah Priscilla Craig, art, culture and communications director at the People’s Forum, walked away from requests for interviews.
When approached by Fox News Digital at the People’s Forum offices in Manhattan, Brian Becker, a founder of the Party for Socialism and Liberation and the ANSWER Coalition, with operations at the People’s Forum, called the inquiries “witch hunting” and referred to a reporter as “a terrorist.”
Manolo De Los Santos, executive director of the People’s Forum, compared the scrutiny to the era of Sen. Joseph McCarthy, who conducted congressional hearings into communist infiltration in the U.S. in the 1950s.
Becker’s son, Ben Becker, editor-in-chief of BreakThrough BT News, a propaganda wing of Singham’s network, watched silently.
Soon after, in mid-February, the Global South Academic Forum released a video, “The World Is Small, The South Is Vast,” featuring highlights from last fall’s conference at Shanghai’s Golden Tulip hotel. The video underscores how the Singham network has created a “Revolutionary Base” in which academic discussion blends with historical symbols tied to revolutionary communism.
In the last seconds of the video, Singham stands at attention as a global communist anthem, “The Internationale,” plays, his comrades punching the air with their fists in solidarity.
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Niikolas Lanam, Kiera McDonald, Hannah Brennan, Mitch Picasso and Brooke Curto contributed to this report.
Landmark trial in New Mexico to decide whether Meta misled users about children’s safety risks
SANTA FE, N.M. — Closing arguments are scheduled Monday in a landmark trial in New Mexico where social media conglomerate Meta is accused of misleading its users about how safe its platforms are for children.
Jurors will take up the case after the arguments and six weeks of testimony from scores of witnesses that included teachers, psychiatric experts, state investigators, top Meta officials and whistleblowers that left the company.
The case in New Mexico state court is among the first to reach trial in a wave of litigation involving social media platforms and their impacts on children.
New Mexico prosecutors have accused Meta — which owns Instagram, Facebook and WhatsApp — of prioritizing profits over safety in violation of state consumer protection laws. They have raised concerns about the safety of complex algorithms, and a variety of messaging features and settings.
Attorneys for Meta dispute the claims and say the company incorporates protections for teenagers and weeds out harmful content, while also acknowledging that some potentially harmful posts get past its safety nets.
A second phase of the trial with follow with a judge deciding whether Meta created a public nuisance and should be on the hook financially to fund programs to address alleged harms to children.
Attorney General Raúl Torrez filed suit in 2023, accusing Meta of creating a marketplace and “breeding ground” for predators who target children for sexual exploitation and failing to disclose what it knew about those harmful effects. State investigators created social media accounts posing as children to document online sexual solicitations and the response from Meta.
Meta attorneys have said the company is honest with platform users about rigorous but imperfect efforts to enforce bans on child sexual abuse material. They also accuse prosecutors of cherry-picking evidence and conducting a shoddy investigation.
Meta executives emphasized at trial that the company continuously improves safety and addresses compulsive social media use without infringing on free speech or censoring users.
A jury assembled from residents of Santa Fe County, including the politically progressive state capital city, will decide whether Meta violated the state’s Unfair Practices Act on three counts, including “unconscionable” trade practices.
A finding of willful violations would open the way for possible fines of up to $5,000 per violation. Prosecutors say that could add up to billions of dollars given the number of people using Meta platforms in New Mexico, though Meta said it would seek a different calculation.
Tech companies have been protected from liability for material posted on their social media platforms under Section 230, a 30-year-old provision of the U.S. Communications Decency Act, as well as a First Amendment shield.
Prosecutors say New Mexico is not seeking to hold Meta accountable for content on its platforms, but rather its role in pushing out that content through complex algorithms that proliferate material that can be addictive and harmful to children.
In California, a jury already is sequestered in deliberations on whether Meta and YouTube should be liable for harms caused to children using their platforms. The bellwether case could impact how thousands of similar lawsuits against social media companies are likely to play out.
England squad: Harvey Barnes replaces injured Arsenal midfielder Eberechi Eze
Newcastle winger Harvey Barnes has been called up to Thomas Tuchel’s England squad to replace injured Arsenal midfielder Eberechi Eze.
Eze was not in Arsenal’s squad for Sunday’s 2-0 Carabao Cup final defeat by Manchester City because of a lower leg injury.
Barnes has been called up once before, in October 2020, when he won his only England cap in a friendly against Wales.
Scotland had tried to convince Barnes to switch his international allegiances and play for Steve Clarke’s team at this summer’s World Cup, with the 28-year-old eligible through his grandparents.
But Barnes turned down Scotland’s advances and he has now been called up to Tuchel’s squad for friendles against Uruguay and Japan in which a number of fringe players will be given chances to stake a claim for a regular place.
The Three Lions face Uruguay on 27 March and Japan on 31 March, with both games at Wembley Stadium.
Barnes has scored 14 goals in all competitions for Newcastle this season.