FirstFT: Today’s headlines | Financial Times
China Fly 28 military aircraft According to Taipei officials, the entry into Taiwan’s air defense buffer zone on Tuesday was the largest such invasion to date, as Beijing continues to express its anger against Western countries and their allies regarding its military pressure on Taiwan. .
The Taiwan Air Force said in a statement that these flights involved 20 fighter jets and 4 nuclear-capable bombers, as well as anti-submarine warfare and early warning aircraft. Previously, the biggest invasion was 25 Chinese military aircraft in one day in April.
The operation was carried out after the G7 Group of developed economies issued a final communiqué after the UK summit on Sunday, which emphasized the “importance of peace and stability in the Taiwan Strait” and called for a peaceful settlement of the issue between China and Taiwan.
Five stories in the news
1. Large tech critic Lina Khan will lead U.S. competition regulator US President Joe Biden’s Pat Lena Khan, A well-known critic of the power of large technology companies, serves as the chairman of the Federal Trade Commission. Biden’s decision promoted the 32-year-old law professor’s status because Congress vowed to crack down on anti-competitive behavior by the largest technology group in the United States.
2. EU freezes bond sales of 10 banks As part of its 800 billion euro recovery fund, the European Union has excluded the 10 most hit banks in the debt market from lucrative bond sales. Historical violation of antitrust rules.
3. PwC will increase the number of employees by 100,000 within five years The audit and advisory team will Increase its global headcount As part of the US$12 billion investment in recruitment, training, technology, and transactions, it will grow by more than one-third over the next five years to capture the booming market for environmental, social and governance advice.
4. The EU and the U.S. end the trade dispute between Airbus and Boeing European Union and U.S. Agreed to end the 17-year dispute Aircraft subsidies have lifted the threat of billions of dollars in punitive tariffs on the economy to promote transatlantic relations.
5. Britain and Australia agree to a post-Brexit trade agreement This Trade agreement It is expected to become a model for Britain’s post-Brexit business policy and pave the way for Britain to join the comprehensive and progressive Trans-Pacific Partnership. If the trade agreement can be signed before the end of the year, it will mark the first large-scale bilateral agreement negotiated entirely by the United Kingdom since the United Kingdom left the European Union in January 2020.
India’s disastrous Covid-19 wave have Undermined the U.S. plan New Delhi plays a leading role in countering China’s influence in the Indo-Pacific region.
Prime Minister of Malaysia Muhyiddin Yassin Uncovered a National Pandemic Exit Plan Before the meeting of national monarchs that might determine his political future.
New York state Removed almost all remaining Covid-related restrictionsThe largest city in the United States was forced into an unprecedented blockade 15 months later.
It’s too early to worry Post-pandemic wage inflation, Or predict the shift in the balance of power between labor and capital, Sarah O’Connor writes. (FT, The Straits Times)
the day before
China retail sales The data for May will be announced today. Retail sales in April increased by 17% year-on-year, Lack of expectations. (CNBC)
Biden and Putin meet in Switzerland When Joe Biden prepares to meet Vladimir Putin in Geneva, the efforts of groups linked to Russia to discredit the Covid-19 vaccine are what the United States thinks Increase false propagandaBut few people believe that Moscow may stop its online activities.
Interest rate determination The Fed will announce its interest rate decision on Wednesday because it faces pressure from investors to urge the central bank to take action. Prevent negative interest rates Occupy a dominant position in parts of the US financial market. The Brazilian central bank is expected to raise interest rates by 75 basis points for the third consecutive time on Wednesday.
What are we still reading
What tech investors are looking for in China After two years of hard work to raise funds, Chinese start-ups have seen The interest of venture capitalists is picking up again, As the United States prospered across the Pacific. The number of venture capital transactions in China in the first quarter increased by 56% year-on-year, marking the fourth consecutive quarter of activity.
More information about Chinese investment: Country approved Record investment As the authorities liberalized the local financial system against the backdrop of the rising renminbi, they flowed out of the country through official plans.
The U.S. should abandon false promises of protectionism?? Protectionism is making a comeback, especially in the United States, Martin Wolf wrote. The driving force behind it is xenophobia and nostalgia. For reasons of national security, a certain degree of self-sufficiency can be argued. But these arguments need to be carefully evaluated.
Who is the president of Peru waiting for? Pedro Castillo appeared out of thin air with a huge straw hat and a huge yellow pencil One of the most famous In Latin American politics. He is expected to become the next president of Peru. But what will he do in the government? no one knows.
Why is the Fear Index on Wall Street so low? After concerns about inflation shocked investors in the first few months of 2021, the market has shifted to a different model: SleepyAnalysts said that the quiet period reflects to a certain extent the Fed’s wait-and-see strategy. But some investors are increasingly worried that complacency is spreading.
China repackages its history On the 100th anniversary of the founding of the Communist Party of China this summer, President Xi Jinping and Gao Xiang, who turned from a historian to a propaganda official, are leading The largest mass education movement From the Mao Zedong era.It is reimagining most of the country’s history to support the president Xi Jinping’s vision For China. (Wall Street Journal-Pay Zone)
Environmental activists are pushing the European Court of Justice to rule that Norway is drilling for oil in the Arctic Violating the human rights of them and future generations In the latest legal challenge to fossil fuel mining.
Read more about us Climate Capital Center.