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HM Revenue & Customs has launched a crackdown on the booming short-term lettings market by initially targeting about 1,000 property owners that it suspects have not paid enough tax. Based on information received from online bookings platforms such as Airbnb, the UK tax agency is sending its first so-called “nudge” letters this month to those
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Russia’s invasion of Ukraine a year ago reverberated through global markets. With no end in sight to Europe’s most intense conflict since the second world war, the effects are still being felt. Financial Times reporters look at what has occurred in key markets and what might happen next. Putin’s energy war backfires Running almost in
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When the US drugs company Abbott Laboratories acquired a small division of the German chemicals group BASF for $6.9bn 23 years ago, its shares fell on fears that it had overpaid. But the deal was an amazing bargain. Humira, the promising medicine that came with it, is now the industry’s biggest blockbuster, with cumulative revenues
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Shell, ExxonMobil and the Dutch government earned €429bn from exploiting the Groningen gasfield, but left thousands of residents with cracked homes and health issues, a parliamentary investigation has found. The geological destabilisation caused by drilling at Groningen, Europe’s largest natural gas reserve, resulted in 1,594 earthquakes and damaged more than 85,000 buildings, a Dutch parliamentary
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Students and academics at Oxford university have called for a sweeping review of policies around its relationship with donors, following revelations that the elite institution courted the Sackler family even after others cut ties. A Financial Times investigation on Monday showed that over the past two years Oxford extended exclusive invitations to a Sackler family
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US stock futures dropped on Friday after the Federal Reserve’s preferred measure of inflation came in higher than expected, the latest in a run of hotter-than-expected economic data that has fuelled expectations of further interest rate rises from the central bank. S&P 500 futures fell 1.4 per cent while Nasdaq 100 futures were 1.7 per
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The Russian mercenary boss Yevgeny Prigozhin often brags about his supposedly fearless exploits on Ukraine’s battlefields, but his most reckless manoeuvre may have been at home: flying too high in the Kremlin. For months, the founder of the Wagner group has been sparring with Russia’s military over a series of calamitous defeats in Ukraine, in
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“The glory and freedom of Ukraine have not yet died.” Scarcely has the first line of a national anthem proved so apt. Russia’s assault on its neighbour on February 24 2022 brought large-scale war, with all its bloodshed, misery and mass dislocations, back to Europe. A year later there are grounds for solace. Ukraine has
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On February 24 last year, the world awoke to news that Russian tanks had rolled into Ukraine from the east and north. Troops had been massing on Ukraine’s borders for months and Russian leader Vladimir Putin had made a series of fiery speeches on the long-running conflict in the Donbas region. There were fears that
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China has called for a ceasefire in the war in Ukraine and a return to negotiations as Beijing attempts to position itself as a peacemaker in the conflict on the anniversary of Russia’s full-scale invasion. The Chinese foreign ministry on Friday released a 12-point paper on its position on a “political settlement” to the war
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