As we’re pushed towards supply chains of isolation, we must protect openness April 22, 2022 Globalisation is dead. So declared Chip Bergh, the chief executive officer of Levi’s, the maker of the iconic 501 jeans, at this year’s World Retail Congress. That doesn’t mean globalisation is going away; but it will need to take a very different form from the one we once knew. The principle of comparative advantage is [...]
Self-confidence has left Nato and Britain unprepared for a threat against the alliance April 22, 2022 Earlier this week, General Sir Richard Barrons warned the Defence Select Committee that the United Kingdom (UK) would not be ready if Russia attacked British territory or that of Nato allies. Since 1949, the government has pledged to defend the North Atlantic Treaty Organisation alliance. Although one nuclear-armed peer is unlikely to attack another, the [...]
Rain Newton-Smith interview: Go for growth to turbocharge economic resilience April 22, 2022 Everyone knows the dismal time the UK economy is in for over the coming year – but let’s recap. Living standards are scheduled to fall at the steepest rate in 66 years as a result of wages failing to keep pace with an average annual inflation rate of over seven per cent, according to the [...]
UK regulators order JP Morgan to review risk management April 21, 2022 A UK regulator has instructed JP Morgan to review its approach to risk management amid a crackdown on reporting procedures of banks.
Russia claims victory in Mariupol despite remaining Ukraine troops April 21, 2022 Russia has claimed victory in the key port city of Mariupol after an almost two-month long attack, despite an estimated 2,000 Ukrainian troops still holding firm in a steel plant. Russian defence minister Sergei Shoigu today said it would take “three to four days” to defeat the final Ukrainian troops at the Azovstal steel plant, [...]
New wave of UK sanctions targets Russia’s war machine April 21, 2022 Vladimir Putin’s war leaders have become the latest target of UK sanctions. 26 individuals have been hit with restrictions in wake of Russia’s renewed assault on the eastern Ukrainian regions of Donetsk and Lushank. Among those targeted are Lt Colonel Azatbek Omurbekov, a Commanding Officer in the Russian Army with involvement in the ‘Bucha massacre’. [...]
Shell in talks with Chinese state-backed firms as it looks to offload Russian energy stakes April 21, 2022 Shell has turned to China, as the energy giant looks to offload its chunky stake in a major Russian gas project.
Banks lag on sustainability as regulators prepare to swoop on ESG performance April 21, 2022 Global lenders are lagging behind sustainability goals as watchdogs increasingly look to clampdown on environmental, social and governance (ESG) performance with regulation, a new report has found.
Google whacked with £105m Russian fine over Ukrainian far-right videos April 21, 2022 Google has been fined 11 million roubles (£105m) for distributing "fake" news YouTube videos produced by Ukrainian far-right groups.
Binance slaps restrictions on Russian crypto accounts April 21, 2022 Binance has restricted every account held by a Russian national exceeding €10,000 in digital assets, in line with the EU’s latest sanctions.