The writer is former special US envoy to Ukraine and former US ambassador to Nato It is sometimes difficult to appreciate the significance of major global changes while they are happening. Our analyses, instincts and actions are rooted in what we already know, not fully appreciating the new environment in which we find ourselves. We focus on
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Vladimir Putin has said the Wagner group refused his offer to continue fighting in Ukraine under their regular commander, indicating the paramilitaries will no longer take part in Russia’s invasion of the country. Putin told Russian newspaper Kommersant on Thursday that he had offered Wagner “several employment options”. The deal, according to Putin, would have
7/12/2023, 11:33:30 PM What to watch in Asia today William Langley in Hong Kong South Korea: Economists expect the Bank of Korea to hold rates at 3.5 per cent for the fourth straight meeting. Meetings: The EU-Japan summit begins in Brussels, attended by European Council president Charles Michel, European Commission president Ursula von der Leyen
US inflation dropped to 3 per cent in June, lower than expected, in the latest sign that the Federal Reserve’s interest rate rises are having an effect on price pressures. The annual increase in the consumer price index slowed from 4 per cent in May to 3 per cent, the slowest rate of inflation since
The chief executives behind Microsoft’s planned $75bn acquisition of Activision made a last-ditch attempt to save the deal in a courtroom on Wednesday in the face of US government objections that could result in its annulment as early as next week. The acquisition of the gaming company would almost certainly collapse if the judge sided
Joe Biden on Monday described the UK-US relationship as “rock solid” at talks in Downing Street with Rishi Sunak, in spite of differences emerging between the two sides ahead of this week’s Nato summit. The US president’s decision to send cluster munitions to Kyiv is at odds with Britain’s opposition to their use, and Number
Moscow has accused Kyiv and Ankara of violating the terms of a high-profile prisoner exchange after President Volodymyr Zelenskyy returned home from a visit to Turkey with a group of Ukrainian commanders. The commanders had led the defence of the bombed-out city of Mariupol before they were forced to surrender last spring at the end
Elon Musk has sued the law firm Wachtell, Lipton, Rosen & Katz to recover a portion of the $90mn fee paid by Twitter, the bulk of which was wired in the hours before the billionaire took over the social media company. Wachtell Lipton, an elite Wall Street firm, had helped Twitter’s then-board to close the
European stocks fell and yields on US government debt rose on Thursday after minutes from the Federal Reserve’s last policy meeting indicated the central bank would resume interest rate increases to stamp out high US inflation. The pan-European Stoxx 600 lost 1.2 per cent, edging towards its lowest point since May, while France’s Cac 40
Australia: The Reserve Bank of Australia will announce its cash rate target. Economists are split over whether the central bank will raise the cash rate to 4.35 per cent or pause, according to a Reuters poll. Thailand: Parliament is expected to choose a House speaker. Progressive opposition party Move Forward and the biggest partner in
Space at the Deep C Two industrial estate in northern Vietnam is in such demand that its developer is already thinking about how to create more — by pushing back the South China Sea. Some of the biggest suppliers to global tech companies such as Apple are clustered at Deep C Two, close to northern
The French government said rioting and looting had calmed as it kept up a heavy security deployment to try to quell the unrest that has exploded in the five days since a fatal police shooting of a teenager. “Quieter night thanks to the resolute action of the police,” interior minister Gérald Darmanin wrote on Twitter
Joe Biden has been rushing to win financial support for his 2024 re-election campaign with a fundraising blitz that is testing the enthusiasm of anxious Democratic donors. The US president has been trying to rake in as much money as possible before the end of the second quarter so he can start amassing a war
Apple’s market valuation is set to surpass the $3tn mark again as shares in the US tech giant hit a fresh record in pre-market trading on Friday. Shares in the company rose about 1 per cent to $191.74 in pre-market trading in New York. Its market value has rebounded 45 per cent this year, adding
Top Russian army general Sergei Surovikin has been detained as the Kremlin cracks down on Wagner sympathisers following the militia’s failed mutiny last week. Surovikin, a senior Russian general known to have a good relationship with Wagner’s leader Yevgeny Prigozhin, has not been heard from for several days and has been detained, according to three
Ukraine has hit back at doubters over the progress of its summer counteroffensive, insisting recent modest gains against Russian occupiers were merely a “preview” of a much bigger push to come. Oleksiy Reznikov, Ukraine’s defence minister, told the Financial Times that the liberation of a group of villages under Russian occupation in recent weeks was
Russia dropped charges against participants in the Wagner paramilitary force’s armed insurrection and said the group had agreed to hand over its weaponry. The announcements on Tuesday came in the wake of the deal between the Kremlin and Wagner founder Yevgeny Prigozhin and appeared to mark progress towards resolving the stand-off. The FSB, Russia’s main
Even as the Bank of England hunkered down for a protracted period of high rates, it was always vanishingly unlikely that the government would step in to help homeowners facing a steep jump in mortgage payments as low-priced, fixed-rate periods end. Rightly so. The impact of rising interest rates on the economy has already been
Oil and gas majors are stepping up efforts to break into lithium to diversify beyond fossil fuels as hopes rise over a technological breakthrough to produce the metal critical for electric car batteries. ExxonMobil, Schlumberger, Occidental Petroleum and Equinor are exploring whether their core skills of pumping, processing and reinjecting underground fluids such as oil
Russian warlord Yevgeny Prigozhin claimed his forces were “blockading” Rostov and marching on Moscow on Saturday morning, as armed, masked men with tanks and armoured vehicles surrounded government buildings in the southern Russian city. In what would mark the first coup attempt in Russia for three decades, Prigozhin appeared to have taken over a military
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