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The writer was governor of the Bank of England from 2003 to 2013 Fifteen years ago, the collapse of the western banking system led to the adoption of thousands of pages of complex regulations. Yet here we are in the middle of another crisis of confidence in banks. Silicon Valley Bank and Credit Suisse had
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European stocks rose at the open on Friday as investors drew optimism from US economic data that pointed towards an end to the Federal Reserve’s campaign to curb inflation with interest rate increases. Europe’s region-wide Stoxx 600 rose 0.5 per cent in the first hour of trade, assisted by strong corporate earnings from Switzerland’s Richemont,
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Mike Lynch, the billionaire founder of UK software group Autonomy, has been extradited to the US after losing his appeal in the High Court last month. Lynch faces a criminal trial in California over multiple allegations including conspiracy to commit wire fraud and securities fraud, charges the tech entrepreneur has strongly contested. A judge in
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The EU’s chief diplomat has warned that China will “take geopolitical advantage” of a Russian defeat in Ukraine and that Brussels needs to respond to Beijing’s global ambitions. Josep Borrell, the bloc’s high representative for foreign policy, has urged member states to find a “coherent strategy” to deal with China that responds to both Beijing’s
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The writer is president of France In a few days, more than 200 international chief executives will arrive in Versailles to take part in an event entitled “Choose France”. Many of them will unveil investments in strategic areas. Since the first of these events in 2018, thousands of jobs and hundreds of factories have been set
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The EU is planning an undersea internet cable to improve connectivity to Georgia and reduce dependence on lines running through Russia, amid growing concerns about vulnerabilities to infrastructure transmitting global data. The €45mn cable will link EU member states to the Caucasus via international waters in the Black Sea, stretching a span of 1,100km. The
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The US has accused South Africa of supplying arms to Russia in a covert naval operation, escalating a foreign policy crisis for President Cyril Ramaphosa over the country’s ties to the Kremlin and position on the Ukraine war. Reuben Brigety, US ambassador to South Africa, told local media on Thursday that the US believed weapons
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Britain has delivered multiple Storm Shadow cruise missiles to Ukraine, UK defence secretary Ben Wallace has announced, boosting Kyiv’s defensive capability as it prepares to launch a counter-offensive against Russian forces. Wallace told MPs on Thursday that the decision to donate the “long-range, conventional-only, precision-strike capability” was a “proportionate” response to Moscow’s escalation of its
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The writer is founder of Sifted, an FT-backed site about European start-ups The latest Californian gold rush is about a mad scramble over generative AI. The big US tech companies, such as Google, Microsoft, Meta and Palantir, as well as a swarm of venture capital firms, are all manically digging for new seams of digital
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