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An unheralded revolution has taken place in America’s approach to international economics. As the new thinking emerges, it is reshaping the global economy and the western alliance. The approach was set out most clearly in a speech by Jake Sullivan on April 27. The fact that Sullivan is President Joe Biden’s national security adviser is

The writer is CBI President For almost 60 years, the CBI has been the recognised voice of business in the UK, representing the common interests of enterprises across all sectors of industry and all regions and nations of the country. We have been at the heart of political and economic decisions and have fought tooth

Russia’s military has claimed to have defeated a large-scale Ukrainian attack in the Donetsk region, although it is not clear whether the push marks the start of a long-awaited counter-offensive. Kyiv dismissed the claims as Kremlin disinformation. Igor Konashenkov, Russia’s defence ministry spokesman, said in a video released early on Monday morning that Ukraine used

European stocks traded cautiously on Monday after economic data sparked investors’ hopes that the US economy would weather the rise in interest rates, easing concerns over a possible recession. Trade in Europe was choppy, with the region-wide Stoxx 600 oscillating between minor gains and losses in early morning trade, while Germany’s Dax advanced 0.2 per

Western countries are worried that China and Russia could try to exploit growing geopolitical tensions in the Arctic to increase their influence over the region and its abundant natural resources. In a series of interviews with the Financial Times, senior western policymakers expressed fears that the era of Arctic exceptionalism — when the polar region

Debt is an everything, everywhere, all at once problem. Both public and private debt has been crucial to growth creation since pretty much the beginning of civilisation. But too much of it (particularly when it’s private) slows the economy. The burden of servicing debt depresses real incomes and it also creates greater inequality, since the

In March, 16 of the City of London’s finest minds traipsed to Duke’s Hotel in Mayfair for dinner with UK security minister Tom Tugendhat. The topic of conversation was not Russia sanctions or the world’s growing cyber risks, but pensions. Tugendhat has form when it comes to campaigning for pension reform — he once accused

Some US banks are preparing to sell off property loans at a discount even when borrowers are up to date on repayments, a sign of their determination to reduce exposure to the teetering commercial real estate market. The willingness of some lenders to take losses on so-called performing real estate loans follows multiple warnings that

Labour is set to receive a £5mn financial boost from the former boss of a car glass repair company to help it fight the next election, in an indication that the UK’s main opposition party is proving successful at wooing new donors. Gary Lubner, who made hundreds of millions of pounds running the company behind

The CBI business lobby group was hit with a new threat to its future on Sunday as its rival, the British Chambers of Commerce, created a new grouping in a bold move to become the voice of the UK’s most prominent companies. BP and Heathrow are among the companies that have joined the newly formed

Labour is set to receive a £5mn financial boost from the former boss of a car glass repair company to help it fight the next election, in an indication that the UK’s main opposition party is proving successful at wooing new donors. Gary Lubner, who made hundreds of millions of pounds running the company behind

The writer is international policy director at Stanford University’s Cyber Policy Center and serves as special adviser to Margrethe Vestager Tech companies recognise that the race for AI dominance is decided not only in the marketplace but also in Washington and Brussels. Rules governing the development and integration of their AI products will have an existential

Indian authorities said preliminary findings showed a signal failure caused a train accident that killed nearly 300 people on Friday, as Prime Minister Narendra Modi vowed to punish those responsible. India’s railway minister, Ashwini Vaishnaw, said on Sunday that the government had “identified the cause of the incident and the people responsible for it”. Early

The Opec+ group was locked in talks over a further cut in oil supplies on Sunday as Saudi Arabia and its allies scrambled to prop up the price, but hesitation from weaker African members of the group raised the prospect that no deal may be reached. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman, Opec’s

The writer is chair of Rockefeller International European markets have received a big lift from the global boom in luxury sales — a piece of unambiguously good news for the region. Nonetheless this success story also raises a troubling question: has Europe become too reliant on a sector many see as a symbol of decadence? 

Siemens and Microsoft are leading a last-minute drive to shore up corporate support for the CBI ahead of a key vote of confidence on Tuesday, after allegations of serious misconduct threw the UK business lobby group into crisis. The German industrial conglomerate, which has a significant presence in the UK, is co-ordinating a letter, urging

Speaking to hundreds of local Republicans in an open-air pavilion in Salem, New Hampshire, this week, Ron DeSantis made no explicit mention of Donald Trump. But with thinly veiled attacks, the Florida governor offered a clear picture of how he intends to challenge the former president for the Republican party’s presidential nomination in 2024. “I’m

Boris Johnson has been warned by Whitehall that he could lose publicly funded legal support if he undermines the government’s position on the Covid-19 inquiry. The Cabinet Office has written to Johnson to say it could withdraw the legal advice it provides to the former prime minister if he undermines the government’s handling of the

Foremost on the minds of Ukrainians and their friends is the need to win the war. But to delay preparations for what comes afterwards would risk losing the peace. Kyiv is aware of this, and economic plans for a postwar Ukraine are being formulated. The Ukraine recovery conference in London this month will be an

Boiler manufacturers are pushing back against government efforts to force them to rapidly make thousands more heat pumps, in a new flashpoint over the pace of the shift towards lower carbon heating.  The government plans to fine companies from next year unless they meet stringent quotas for heat pump production and installation. But bosses are lobbying

Asda’s owners are using the proceeds of an earlier asset sale to fund their contribution to the supermarket’s takeover of parts of EG Group, another business they own, in the latest example of financial engineering that has allowed them to limit their cash outlay on the business. Earlier this week, Asda announced a £2.3bn deal