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Russia’s defence minister has ordered tens of thousands of troops recently deployed close to the border with Ukraine to return to their bases in a move likely to ease immediate fears of a conflict and tensions with the west. Moscow had moved as many as 100,000 troops, alongside tanks, military aircraft and naval ships, to
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The US justice department will investigate whether there is a pattern of unlawful policing at the Minneapolis police department in the wake former officer Derek Chauvin’s conviction on charges of murdering George Floyd. The probe was announced by US attorney-general Merrick Garland less than 24 hours after a jury in Minneapolis found Chauvin guilty of
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Morgan Stanley has recorded a $911m hit from the blow-up last month of Archegos, Bill Hwang’s family office, which has caused billions of dollars of losses across global investment banks. The hit was a blemish on the Wall Street bank’s record set of first-quarter results, which were driven by a surge in dealmaking, trading and
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Russia assets sold off on Thursday after reports that US president Joe Biden was set to announce a fresh round of sanctions against Moscow, potentially targeting the country’s sovereign debt. Washington is set to unveil the new measures, the first against Russia from the Biden administration, to punish Moscow for alleged meddling in US elections
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JPMorgan Chase’s earnings grew fivefold in the first quarter, as a strengthening US economy allowed it to release more reserves for potential bad loans and rising investment banking fees propped up results. However, Jamie Dimon, chief executive, cautioned on Wednesday the boost from reserve releases would not last and loan demand remained challenged despite consumer
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Alibaba shares rose sharply on Monday after the ecommerce group controlled by billionaire Jack Ma said a record $2.8bn fine at the weekend marked the end of an antitrust investigation into the company. Executives told an analyst conference that while regulators were still probing China’s broader tech industry over past mergers and acquisitions, they did
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China’s Center for Disease Control is thinking about mixing vaccines and varying the sequence of doses to boost efficacy. It is the first time a government body has discussed publicly that there are concerns over the effectiveness of Chinese jabs. Gao Fu, the CDC head, told a forum on Saturday that the agency was “considering
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Chinese regulators have fined Alibaba a record Rmb18.2bn ($2.8bn) after finding that the ecommerce group had abused its market dominance. The fine, which was set at 4 per cent of Alibaba’s 2019 revenues, concludes an antitrust investigation into the company founded by Jack Ma. It comes as Chinese authorities have stepped up scrutiny on dealmaking
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Prince Philip, the Duke of Edinburgh, a critical figure in the shaping of Britain’s royal family over more than seven decades, has died at the age of 99. Buckingham Palace announced on Friday that the Duke, who married the then 21-year-old Princess Elizabeth in 1947, “passed away peacefully this morning at Windsor Castle”. The Duke’s
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The Biden administration has proposed a new model for taxing multinational corporations, calling for the world’s biggest businesses to pay levies to national governments based on their sales in each country as part of a deal on a global minimum tax. In documents sent to the 135 countries negotiating international taxation at the OECD in
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The EU drug regulator will launch an investigation next week into whether clinical trials of Russia’s Sputnik V Covid-19 vaccine contravened ethical and scientific standards. The European Medicines Agency’s probe into whether Sputnik V trials met “good clinical practice” standards comes as people familiar with the regulator’s approval process told the Financial Times of their concerns
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