Ukraine cannot fight evil with empty hands : The trapped US funds are the difference between life and death for many of us
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Quick Glance: Ukraine urgently needs support against Russia
- The trapped US funds are the difference between life and death for many Ukrainians.
- Despite being thousands of miles away from Ukraine, the war's impact is deeply felt.
- Russia is committing systematic war crimes in Ukraine.
- Ukraine is fighting for survival and basic values in a war for peace.
US will vote against move to give Palestinians UN membership: Washington’s opposition will kill Algerian proposal that would have in effect granted statehood
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Iran oil exports hit 6-year high as west prepares sanctions: Surge in crude sales to China exposes limits of US and EU attempts to rein in Islamic republic
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Quick Glance: Iran's Oil Exports Thrive Amid Rising Tensions
- Iran is exporting more oil than in the past six years, providing the economy with a $35 billion annual boost, as western countries consider tightening sanctions in response to the attack on Israel.
- The US and the EU are preparing new sanctions on the Islamic republic to deter conflict escalation with Israel, facing challenges due to Iran's successful circumvention of sanctions, especially with China being its primary customer.
- Iran has found ways to bypass sanctions, shielded from western pressure as its main oil exports go to China. Tensions have escalated since the Hamas attack on Israel, driving oil prices up by over 15%, while US efforts to sanction individual tankers carrying Iranian oil have had minimal impact so far.
- Mounting Republican pressure urges the Biden administration to take tougher action on Iran's oil sales, with criticism over perceived leniency on existing measures. Despite US strategic oil reserves being released to stabilize prices, concerns remain over the administration's stance on enforcing sanctions similar to the previous Trump administration.
US reimposes oil sanctions on Venezuela after broken election promises : Biden administration says Maduro has ‘fallen short’ on pledge of free and fair ...
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Quick Glance: US to Reinstate Sanctions on Venezuela’s Oil and Gas Sector
- The United States will reimpose sanctions on Venezuela’s oil and gas sector due to the Maduro government's failure to allow 'an inclusive and competitive election' to take place.
- The US government decided not to renew the temporary authorization (General License 44) that allowed transactions with Venezuela's national oil and gas sector without fear of sanctions, citing the Maduro government's failure to uphold key areas of the 'Barbados Agreement.'
- While the impact of revoking the authorization could not be quantified, another authorization from 2022 allowing the oil company Chevron to resume limited resource extraction operations in Venezuela will remain in place.
- Despite reinstating sanctions, a US official emphasized that this should not be seen as a final decision on Venezuela's electoral capabilities, and efforts to support a better future for the country will continue.
Iran warns it could review nuclear stance if Israel threatens atomic sites: Revolutionary Guards issue warning as Israel vows retaliation for missile and drone ...
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Booming AI demand threatens global electricity supply: Tech chiefs warn that power-hungry data centres are a bottleneck in developing artificial intelligence
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Quick Glance: Growing Demand for AI Threatens Global Power Supply
- Tech experts concerned about crucial role of energy supply in AI development.
- The increasing need for electricity poses a challenge for advancements in artificial intelligence.
- Global data centers are expected to require more capacity by 2030 than currently available.
- Concerns about environmental impact of technology boom heightened by data centers' energy consumption.
US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
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Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
German police arrest suspected Russian spies over bombing plan: Two men held for alleged intent to sabotage that included military base training Ukrainian ...
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Joe Biden calls for tripling of tariffs on Chinese steel: US also to probe Chinese shipbuilding as president’s re-election campaign fights for votes in ...
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Quick Glance: Joe Biden Calls for Significant Increase in Tariffs on Chinese Steel
- US President Joe Biden is pushing for an increase in tariffs on Chinese steel and aluminium to strengthen union support in the swing state of Pennsylvania.
- During a meeting with United Steelworkers union members in Pittsburgh, Biden calls on trade representative Katherine Tai to raise the tariffs from the current average of 7.5 percent.
- The main focus of the measures is to combat China's new export surge and the ongoing price pressure that makes it difficult for American steel companies to compete.
- The Biden administration's decision to increase tariffs is expected to impact recent efforts by Washington and Beijing to stabilize relations.
Boeing engineer says safety concerns are ignored inside plane maker: Whistleblower says he was told to ‘shut up’ after raising questions about 777 and 787 ...
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Quick Glance: United Airlines cuts 2024 aircraft delivery plan
- United Airlines has reduced its aircraft delivery expectations for the year due to Boeing delays.
- The company plans to lease 35 Airbus A321neos in 2026 and 2027.
- United Airlines incurred a $200 million loss due to the temporary grounding of the Boeing 737 Max 9 in January.
- The company exceeded Wall Street's expectations for the first quarter.
The Baltic balancing act over the threat from Russia: Fears grow in the region that Putin could test Nato’s resolve with provocations or the ‘nightmare scenario’ ...
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Anglo-German businessman Arnulf Damerau told the FT that a small clique of senior officials was trying to blackmail him for tens of millions of euros. www.ft.com/content/47ab8286-248d-4fec-80ce-b08ed1409243
Donald Trump has raised $75mn less for his presidential bid than Joe Biden and has 270,000 fewer unique donors now than at the same stage of his run for the ... Show more www.ft.com/content/568bad64-6096-4d86-9faa-b1b1a7a0b7b0
Quick Glance: Trump campaign seeks share of candidates' donations
- The Trump campaign asks Republican candidates using his name and image in fundraising appeals to give at least 5 percent of the proceeds to the campaign.
- The purpose of the 5 percent request is to prevent 'scammers' from misusing Trump's brand and affecting his fundraising efforts.
- Trump is struggling to catch up to Biden's fundraising and aims to boost his campaign account with the help of donors.
- The campaign warns of consequences for vendors and requests compliance with guidelines to avoid suspension of business relationships.
European stocks suffer worst day in nine months : Strength of US economy prompts investors to scale back expectations for rate cuts
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Are House Republicans finally willing to approve $60bn for Ukraine?: After a months-long internecine stand-off, Speaker Mike Johnson thinks he can get military ...
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Quick Glance: Biden's Backing of House Aid Package for Israel and Ukraine
- President Joe Biden endorses an aid package for Ukraine, Israel, and Taiwan.
- Crucial bipartisan support emerges for the approval of $95 billion in funding for U.S. allies.
- The package includes economic assistance for Kyiv in the form of forgivable loans and enhanced monitoring of military funds.
- Democrats and progressives oppose aspects of the package, while some Republicans reject House Speaker Mike Johnson.
Google streamlines structure to speed up AI efforts: Teams tackling artificial intelligence models unified under leadership of DeepMind founder Demis Hassabis
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Quick Glance: Google Employees Rally Against Cloud Agreement with Israel's Government
- Google staff members are protesting a cloud deal with the Israeli government amid the Hamas conflict.
- Activists are staging sit-ins at Google offices in New York and California as a form of protest.
- These actions represent an intensification in the resistance against tech companies' association with the Israeli government.
- Employees are urging the immediate termination of the project and condemning the IDF's utilization of Google services.
Netflix profits surge after password-sharing crackdown : Streaming pioneer says it will stop disclosing subscriber numbers and shift focus to engagement
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Quick Glance: Netflix to Cease Subscriber Reporting from 2025
- Netflix will no longer report subscriber numbers starting from the first quarter of 2025, a metric that has been crucial for streaming services.
- Despite exceeding expectations for Q1 earnings, Netflix shares dropped over 4.5% after-hours, possibly due to the decision to stop reporting quarterly subscriber totals.
- The company aims to shift investor focus towards time-spent-viewing metrics for future growth as subscriber numbers may plateau in the long run.
- Netflix will halt reporting quarterly membership numbers and average revenue per member from 2025, emphasizing revenue and operating margins as primary financial metrics. It will continue providing regional revenue breakdowns and financial forecasts.
Nicola Sturgeon’s husband rearrested in SNP finance probe: Peter Murrell was the first of three arrests made last year relating to the investigation into party ...
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Quick Glance: Police Investigation into SNP Finances: Key Updates
- On Thursday, the re-arrest of Peter Murrell, the husband of Nicola Sturgeon, took place as part of the police investigation into the SNP’s finances.
- Murrell, aged 59, was apprehended and underwent interrogation by detectives.
- The arrest occurred slightly more than a year subsequent to the search conducted by Police Scotland officers at the couple’s residence, where a blue tent was set up outside the property, alongside searches at the SNP’s headquarters in Edinburgh.
- In April 2024, Peter Murrell was charged with 'embezzlement' of funds from the SNP.
Question of AI pay-off hangs over Big Tech earnings: The likely message from the leading companies is: be patient
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Poland arrests man suspected of aiding Russia in plot to kill Volodymyr Zelenskyy
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Quick Glance: Polish Authorities Detain Man Allegedly Involved in Russian Espionage for Zelenskyy Assassination Plan
- A Polish citizen was detained by Polish authorities on suspicion of spying for Russia's military intelligence to potentially assassinate Ukraine's President, Volodymyr Zelenskyy.
- He intended to share critical details about the Rzeszow-Jasionka airport in southeastern Poland, crucial for international military and humanitarian aid to Ukraine.
- In case of a conviction, he could potentially face a sentence of up to eight years in prison.
- Prosecutors emphasized the arrest resulted from a close collaboration with Ukrainian counterparts who provided vital information leading to the detainment.
UK inflation falls less than expected to 3.2% in March: Rate continues to drop but economists had forecast a decline to 3.1%
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Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
EU offers to strike youth mobility deal with UK : Labour party rebuffs scheme, which it says crosses Brexit red lines
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Scotland ditches 2030 climate target as being ‘out of reach’: Decision to drop pledge to cut emissions by 75% by end of the decade labelled an ‘abject ...
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Quick Glance: Scottish Government Abandons 'World-Leading' Climate Target
- The Scottish Government has abandoned its “world-leading” target of reducing greenhouse gas emissions by 75% by 2030.
- Ministers will bring forward legislation to ensure the climate change target “better reflects the reality of long-term climate policymaking”.
- Scotland will move away from legally binding annual targets to a five-yearly carbon budget approach.
- A new package of climate action measures was announced, including tripling the number of charging points for electric vehicles and exploring a new integrated ticketing system for public transport in Scotland.
Dubai airport continues to struggle amid travel chaos after the storm: World’s busiest international airport saw airlines cancel more than 1 ...
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Qatar reconsiders mediator role between Hamas and Israel: Gulf state complains of ‘narrow interests’ of politicians in apparent reaction to US congressman
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Quarter of UK children aged 5-7 own smartphones, regulator finds: Ofcom report reinforces online safety concerns as social media apps show significant growth ...
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Cocoa hits record high as global shortage worsens in first quarter: London futures prices near £10,000 a tonne as poor west African harvests hit supplies
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Ukraine’s desperate need for air defences: Nato allies should donate from their armouries even if that leaves them depleted
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TSMC plans to charge customers more for chips made outside Taiwan: World’s largest chipmaker says ‘incremental cost’ of setting up plants abroad should be shared
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Financial Times: News, analysis and opinion from the Financial Times on the latest in markets, economics and politics
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Sex workers denounce UK banks for waging ‘war’ on their jobs : Campaigners say debanking and financial exclusion increases vulnerability to criminals and ...
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Columbia University calls in police to break up pro-Palestinian protest: Clampdown on ‘disruptive’ demonstrations leads to more than 100 arrests as US campus ...
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Live news: S&P 500 and Nasdaq post fifth session loss in a row
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The corporate world needs to collaborate on cyber risk: As threats morph, the cultural objections to working with the government must change too
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EasyJet targets another bumper summer of record profits : Low-cost airline confident about delivering strong performance as Middle East conflict fails to dent ...
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How did customer service get so bad?: The collapse of standards is costing companies a fortune and the rest of us our sanity
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Tory MP Mark Menzies loses whip over alleged misuse of funds: Politician accused of using thousands of pounds given by donors for medical bills and personal ...
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Crypto regulation must not prioritise memes over matter: Lack of clarity in the industry is causing confusion among entrepreneurs
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High-speed trader Jane Street raked in $4.4bn at start of 2024: Trading revenue for secretive New York firm rivals sums generated by Wall Street banks
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Amundi heads west in bid to be Europe’s BlackRock: Victory Capital deal will nearly triple US assets under management
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UK rents rose at a record pace of 9.2% last month while house prices stagnated, with London hit hardest, as higher borrowing costs continued to squeeze both ... Show more www.ft.com/content/5ec2740e-5c23-4440-a798-fc5198745d50
This week’s reviews include Johnny Depp playing the king to Maïwenn’s mistress in Jeanne du Barry and five other films selected by the FT’s critic. www.ft.com/content/19504fed-5e39-488f-b5b8-c9a7eb8a6b84
Is India’s BJP the world’s most ruthlessly efficient political party?: Prime Minister Narendra Modi’s party has built one of the most formidable electoral ...
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Liz Truss: ‘I don’t believe in guardrails’: Britain’s shortest-serving prime minister on being ejected from office, the need for radical economic remedies — and ...
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PwC to reverse controversial US tax split: Incoming US senior partner Paul Griggs plans to reunify tax division, dismantling predecessor’s model
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LVMH accounts for bigger share of French exports than agricultural sector: Luxury group’s goods worth €23.5bn heading abroad last year overtakes country’s entire ...
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CVC expresses interest in EY’s Italian consulting arm: Preliminary approach underscores private equity’s interest in professional services
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UK will not ‘turn on’ post-Brexit checks of EU goods for fear of border delays: Industry groups say lack of clarity leaves businesses unsure how to manage new ...
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Coventry Building Society agrees £780mn merger with Co-op Bank: A deal would see the private-equity controlled lender eventually return to mutual ownership
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Iran crisis risks easing pressure on Israel over Gaza, diplomats warn: Humanitarian situation in Palestinian enclave remains dire, says EU’s top diplomat
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Austria’s Raiffeisen expects ECB to order acceleration of its Russia exit : Statement comes after FT reported bank had posted ads for Russian-based jobs ...
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Paid articlePaid An election manifesto for the NHS — and a healthy economy: A population equivalent in size to Greater Manchester is not working due to ill health ...
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Breaking news: Two senior women are leaving BP in the first major changes to the company’s management team since the departure last year of chief executive ... Show more www.ft.com/content/ac1b4852-1928-42cd-84d8-0af3ae00600c
Hipgnosis agrees $1.4bn sale to Concord Chorus: Troubled music rights business strikes deal with Apollo-backed group
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Paid articlePaid UK proposes crackdown on foreign security risks to university sector: Deputy PM says government will examine new curbs around technology sharing and call in ...
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Crypto miners hoard bitcoin as supply cut looms: Digital assets market prepares for 50% drop in reward for verifying bitcoin transactions
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IMF warns of long-lasting economic impact of Gaza war on Middle East: Fund expects growth in Middle East and north Africa region and Pakistan to be ‘lacklustre’ ...
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Germany’s doomed China strategy: The corporatist spell must soon break
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Gary Stevenson was once Citibank’s highest-paid trader. Here’s what he learned: www.ft.com/content/4c5db8ad-bdd6-42c9-9b3e-538fbc4cc589
Majority of EU states object to capital markets reform push: France led calls to revive financial integration project to help fund Europe’s rearmament and green ...
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Financial Times: News, analysis and opinion from the Financial Times on the latest in markets, economics and politics
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Quick Glance: Russia Strikes Chernihiv: 18 Dead, Ukraine Appeals for Air Defense
- At least 18 people were killed and over 60 wounded in Chernihiv due to Russian missile strikes. Ukrainian officials emphasized that the attack could have been prevented with adequate air defense systems.
- Russia launched three Iskander cruise missiles at the city, located near the Russian border and previously encircled by Russian troops.
- Ukraine currently has three Patriot air defense systems but requires 26 for full coverage. Following appeals for more systems, Germany pledged to send an additional one.
- A $60 billion aid package for Ukraine is stalled in the US Congress, allowing Russia to exploit ammunition and air defense shortages and gain ground in the east.
Pemex chief rejects criticisms of debt-laden oil group: CEO hits back at rating agencies and investors for calling the Mexican state company a ‘bottomless ...
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Hedge fund Citadel to expand its London office space with tower move: Ken Griffin’s firm will move into British Land’s flagship development at Broadgate
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Blackstone warns that private equity cannot return capital ‘overnight’: Industry sitting on record amounts of unsold assets that will take time to sell even as ...
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Ex-Post Office chair accused of using ‘offensive’ term about job candidate: External review into conduct at state-owned group finds Henry Staunton used ...
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NBA player gets lifetime ban for gambling on basketball games: Penalty against Toronto Raptors player Jontay Porter comes amid concerns about betting industry’s ...
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Quick Glance: NBA Bans Jontay Porter of Raptors for Gambling Violations
- Jontay Porter of the Toronto Raptors was banned from the league for disclosing confidential information to bettors, limiting his participation in at least one game with the Raptors, and betting on NBA games in the G-League.
- NBA commissioner Adam Silver stressed the importance of protecting the integrity of NBA competition for fans, teams, and all associated with the sport when announcing the ban.
- The investigation into Porter began in late March after sportsbooks noticed unusual betting on the reserve center's statistics in two Raptors' games, where Porter exited early in each game.
- Porter placed at least 13 bets on NBA games through an associate's online betting account, totaling $54,094. The total payout from these bets amounted to $76,059, resulting in a net winnings of $21,965.
Hannah, Westminster Bridge: how to do kaiseki — restaurant review: Out with the formality, in with emotion at this Japanese gem
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Live Nation deserves to face the antitrust music: An unwinding of the Ticketmaster deal no longer looks far-fetched
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Elon Musk says Texas forever. Shareholders shouldn’t: Tesla wants to relocate its corporate domicile but institutional investors like Delaware’s sophistication ...
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Quick Glance: Why Tesla Wants Approval for Elon Musk's $55 Billion Compensation Package
- Tesla is seeking shareholder approval for Elon Musk's compensation package, which was previously rejected by a judge.
- The company asserts that implementing the plan is crucial for Tesla's future growth.
- Elon Musk will be rewarded with stock options that become available when Tesla achieves specific financial objectives.
Brexit has ‘exacerbated’ UK drug shortages, research finds: Report from Nuffield Trust health think-tank highlights impact of leaving EU on medicine supply ...
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What the people of Sudan need from us: One year on, this nightmare war shows no signs of ending
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Asian finance officials raise ‘serious concerns’ over strong dollar: Emerging-market currencies have been under pressure from shifting US interest rate ...
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Military briefing: Israel’s options to strike Iran: Whatever form direct retaliation takes, analysts warn there is a high risk of miscalculation — and further ...
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Quick Glance: The Night Iran's Missile Show Rattled Israel
- In Tehran, 'Operation True Promise' launched an unprecedented aerial assault on Israel.
- The direct clash between powerful militaries showcased Israel's defense and Iran's display of power.
- Despite minor damages and injuries, the question remains whether this attack signifies further escalation or the start of a war.
- The missile and drone strikes resulted in minimal damage, with Israel and allies successfully intercepting most projectiles.
China warns west of ‘survival of the fittest’ as manufacturing boosts economy: Trading partners fear factory boom could trigger supply shock after first-quarter ...
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China’s ‘red circle’ law firms rush to tap other markets: Mainland’s biggest firms opening offices in Asia, US and Africa as they seek to challenge international ...
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Quick Glance: China’s ‘Red Circle’ Law Firms Expanding Internationally
- China’s top 'red circle' law firms are aggressively expanding their international presence and working at lower fees than western competitors.
- Several Chinese firms have opened offices in Asia and the US since early 2023, while international rivals retreat from the Chinese market.
- This expansion signals Chinese firms' aspiration to capture international clients and move into China-friendly nations.
- Although Chinese firms still lag behind western rivals, China's growing global presence is opening doors to international markets and fostering potential for future growth.
Record ocean warming adds to dangers for native fish species, environment chief warns
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Hunt says Thames Water must ‘sort out’ its own issues : Chancellor says UK government will never insure investors against poor decisions
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ASML’s poor quarter is not a good reason to fret about its future: The Dutch group holds an unassailable market position
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Salman Rushdie’s fearless memoir Knife uses his assassin’s blade as a ‘reckoning’
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