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Good morning. We start the week with a preview of a vital EU assembly immediately, the place Ukraine is predicted to demand extra assist from the bloc’s overseas and defence ministers.
Kyiv this month made an pressing plea to western allies for seven further air defence programs, similar to US-made Patriots or Soviet-developed S-300s, as Russia steps up an air and missile marketing campaign in opposition to the nation’s cities and energy infrastructure.
Greece and Spain specifically are going through intense strain from their EU and Nato allies. European leaders personally urged Spanish and Greek prime ministers Pedro Sánchez and Kyriakos Mitsotakis at a summit in Brussels final week to donate air defence programs to Ukraine, in line with individuals briefed on the discussions.
The 2 leaders, whose armed forces possess between them greater than a dozen Patriot programs plus others similar to S-300s, have been informed that their wants weren’t as nice as Ukraine’s and that they didn’t face any imminent threats. Right here’s what to anticipate at immediately’s assembly.
Race in opposition to time: Ukraine faces powerful weeks forward to stem Russian battlefield advances regardless of this weekend’s passage of a long-awaited US funding invoice.
Opinion: Ukraine is the frontline of a a lot bigger battle, writes Gideon Rachman, with the US vote to supply extra cash to Kyiv and others exhibiting how America now sees the world.
And right here’s what else I’m maintaining tabs on immediately:
Christine Lagarde: The European Central Financial institution president will converse at Yale College on the significance of concepts in driving financial development.
Rwanda invoice: The African nation is taking steps to host asylum seekers despatched from Britain, after UK Prime Minister Rishi Sunak vowed to get the laws although parliament immediately.
‘Hush cash’ case: Opening arguments start within the legal trial of Donald Trump. The previous US president has spent greater than 1 / 4 of his marketing campaign donations — or about $76mn — on his authorized charges since final January.
Outcomes: SAP and Ten Life-style Group report.
Passover: The Jewish competition commemorating the Israelites’ liberation from slavery in Egypt begins this night.
Earth Day: The annual occasion elevating consciousness about environmental safety shall be marked world wide immediately. This 12 months’s theme is “Planet vs Plastics”.
5 extra prime tales
1. Unique: The worldwide banking regulator is sounding out traders on the suitability of further tier 1 bonds, a type of debt that was worn out when Credit score Suisse collapsed final 12 months. The Basel Committee on Banking Supervision held a collection of high-level conferences with financial institution executives, traders and credit standing businesses on the European Banking Authority in latest weeks, in line with individuals with information of the talks. Learn the total story.
2. The UK’s prime monetary regulator is going through a fierce backlash over its plan to “identify and disgrace” corporations beneath investigation extra continuously and at a a lot earlier stage. The transfer by the Monetary Conduct Authority has precipitated anger in ministerial circles and amongst Metropolis executives, with a senior authorities determine saying “they have to cease”.
3. Unique: The New York Inventory Trade is polling market members on a 24/7 bourse, highlighting the rising curiosity in in a single day buying and selling within the likes of Nvidia or Apple. The difficulty has turn into a scorching matter lately, prompted partially by the 24-seven operation of cryptocurrency buying and selling and the rise in retail investor exercise. Jennifer Hughes has extra particulars.
4. Tesla shareholders are bracing themselves for its worst efficiency in seven years in its quarterly outcomes tomorrow, because the carmaker faces slowing demand and a brutal value warfare. Buyers will even be on the lookout for adjustments in focus at Elon Musk’s firm after studies it was slowing plans for a less expensive electrical automotive in favour of self-driving “robotaxis”. Right here’s what to know forward of Tesla’s earnings.
5. The US is ready to blacklist an Israeli navy unit for alleged human rights abuses in opposition to Palestinians within the occupied West Financial institution, in what could be its first sanctions in opposition to the Israel Protection Forces. The sanctions would ban the switch of American arms and different types of help to the Netzah Yehuda battalion, an all-male infantry unit made up of ultra-Orthodox and non secular nationalist Jewish recruits.
Hizbollah: The Lebanese militant group’s restricted participation in hostilities between Iran and Israel final week has been seen as a sign of restraint.
Iran: Who pulls the strings of energy in Tehran? Our explainer breaks down the regime’s intricate, multi-layered and opaque energy construction.
Information in-depth
Small and medium-sized importers of meals and crops from the EU will face punitive month-to-month costs operating into tens of 1000’s of kilos when post-Brexit border checks come into pressure on the finish of this month, trade our bodies have warned. Charges on EU items arriving at Dover and Eurotunnel, which deal with the majority of UK meals imports, have been capped at £145 per product sort, however commerce teams stated the fees would shortly add up, leaving smaller operators going through crippling price ranges.
We’re additionally studying . . .
Proxy advisers: Firms ought to cease attacking the corporations that play a significant position in constructing a well-functioning shareholder democracy, writes Andrew Hill.
EU financial system: The bloc remains to be punching beneath its weight economically, writes Martin Sandbu, and desires the political boldness to realize it.
Overstimulated US: One ignored cause for America’s financial resilience is stimulus nonetheless coursing by the financial system, however it can’t maintain such aggressive spending indefinitely, writes Ruchir Sharma.
Skilled companies: With the variety of workers leaving of their very own accord at historic lows, bosses of consulting and accounting corporations have been determined to extend attrition.
Chart of the day
Scientists and well being companies are monitoring the upcoming European summer season for indicators of one other season of maximum warmth, after discovering that deaths linked to scorching climate on the continent have risen 30 per cent over the previous twenty years.
Take a break from the information
When you nonetheless discover it onerous to not stare at your self while you’re on a Zoom assembly, you aren’t alone. Elaine Moore explains why the rise in video calls has birthed a complete new set of issues for tech corporations — and us.
Extra reporting from Benjamin Wilhelm
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