Greek-American Jim Chanos, one of Wall Street’s most notorious short sellers, is sounding the alarm about the boom in private debt, telling the Financial Times that the chaotic bankruptcy of First Brands could herald a wave of corporate collapses.

As expected Israeli Navy forces boarded on ships of the international Global Sumud Flotilla headed to Gaza and among them the Greek owned ship “Oxygen” which was part of the mission. The vessel, carrying humanitarian aid and activists, was intercepted while sailing toward the coastline of the Palestinian enclave.

European prosecutors are investigating a large-scale VAT and customs fraud scheme linked to Chinese organised crime that has touched multiple EU countries. In June, Greek authorities raided offices at the port of Piraeus and uncovered €2.7mn in cash in the office of a customs broker, plus another €300,000 at his home. The seizures were part of a wider European Public Prosecutor’s Office (EPPO) probe, which has already frozen over €5mn in bank accounts, confiscated €4.8mn in cash, and seized properties, vehicles, and more than 2,400 shipping containers worth an estimated €250mn.