Spain and Greece beneath stress to offer Ukraine with air defence methods

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Good morning. We start the week with a preview of a vital EU assembly at the moment, the place Ukraine is anticipated to demand extra support from the bloc’s international and defence ministers.

Kyiv this month made an pressing plea to western allies for seven extra air defence methods, resembling US-made Patriots or Soviet-developed S-300s, as Russia steps up an air and missile marketing campaign towards the nation’s cities and energy infrastructure.

Greece and Spain specifically are dealing with intense stress 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 methods to Ukraine, in keeping with individuals briefed on the discussions. 

The 2 leaders, whose armed forces possess between them greater than a dozen Patriot methods plus others resembling S-300s, have been instructed 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 at the moment’s assembly.

• Race towards time: Ukraine faces robust 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 offer more money to Kyiv and others exhibiting how America now sees the world.

And right here’s what else I’m maintaining tabs on at the moment:

• Christine Lagarde: The European Central Financial institution president will converse at Yale College on the significance of concepts in driving financial progress.

• 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 at the moment.

• ‘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 all over the world at the moment. This 12 months’s theme is “Planet vs Plastics”.

5 extra prime tales

1. Unique: The worldwide banking regulator is sounding out buyers on the suitability of extra 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, buyers and credit standing companies on the European Banking Authority in current weeks, in keeping with individuals with information of the talks. Learn the complete story.

2. The UK’s prime monetary regulator is dealing with a fierce backlash over its plan to “identify and disgrace” firms beneath investigation extra regularly and at a a lot earlier stage. The transfer by the Monetary Conduct Authority has brought on anger in ministerial circles and amongst Metropolis executives, with a senior authorities determine saying “they’ve 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 grow to be 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 battle. Traders may even be in search of modifications in focus at Elon Musk’s firm after stories it was slowing plans for a less expensive electrical automobile in favour of self-driving “robotaxis”. Right here’s what to know forward of Tesla’s earnings.

5. The US is about to blacklist an Israeli army unit for alleged human rights abuses towards Palestinians within the occupied West Financial institution, in what could be its first sanctions towards 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 spiritual nationalist Jewish recruits.

• Hizbollah: The Lebanese militant group’s restricted participation in hostilities between Iran and Israel final week has been considered 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 expenses operating into tens of 1000’s of kilos when post-Brexit border checks come into drive on the finish of this month, business 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 kind, however commerce teams mentioned the fees would shortly add up, leaving smaller operators dealing with crippling value ranges.

We’re additionally studying . . . 

• Proxy advisers: Corporations ought to cease attacking the corporations that play a significant function in constructing a well-functioning shareholder democracy, writes Andrew Hill.

• EU financial system: The bloc continues to be punching beneath its weight economically, writes Martin Sandbu, and wishes the political boldness to attain it.

• Overstimulated US: One missed purpose for America’s financial resilience is stimulus nonetheless coursing by means of the financial system, however it can not maintain such aggressive spending indefinitely, writes Ruchir Sharma.

• Skilled providers: With the variety of employees 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 providers 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 20 years.

Take a break from the information

In the event you nonetheless discover it onerous to not stare at your self whenever you’re on a Zoom assembly, you aren’t alone. Elaine Moore explains why the rise in video calls has birthed a entire new set of issues for tech firms — and us.

Further reporting from Benjamin Wilhelm