Thousands of websites went offline for almost an hour on Tuesday morning, including several of the world’s largest news sites, streaming services, online retailers and even the UK government, disrupting millions of internet users. Connectivity problems lasting almost an hour appeared to affect news sites including the BBC, New York Times and FT.com, streaming services
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Russia has agreed to release $500m in credit to Belarus and look to increase the number of flights between the two countries as the Kremlin doubled down on its support for Alexander Lukashenko after his forced landing of a passenger flight that has sparked western condemnation. Russian president Vladimir Putin hosted Lukashenko in Sochi on
The US has moved to punish Belarus for the forced landing of a Ryanair flight last weekend by announcing that it would reimpose sanctions on nine of the country’s state-owned companies and would join the EU in developing a list of additional targets. In a statement late on Friday, Jen Psaki, the White House press
A US inflation measure closely watched by the Federal Reserve posted its biggest year-on-year jump since the 1990s in April, rising more than expected and fuelling concerns about price increases. The commerce department’s core personal consumption expenditure index, which strips out volatile food and energy costs, rose 3.1 per cent last month compared to a
Tesla is set to take the unusual step of paying in advance for chips to secure its supply of the crucial materials and is also exploring buying a plant as part of efforts to overcome the global shortage, according to people familiar with the matter. The US electric-car maker is discussing the proposals to secure
The EU has demanded damages potentially amounting to billions of euros from AstraZeneca if the company fails to increase deliveries of its Covid-19 vaccine by next month. The EU wants the company to pay penalties of €10 a dose a day if it does not supply 20m extra shots the European bloc wants by the
Goldman Sachs Asset Management has won initial approval for a wealth management joint venture with ICBC, one of China’s largest banks, as Wall Street groups expand their presence in the country. Goldman will hold a 51 per cent stake in the venture, while ICBC wealth management, a subsidiary of the bank, will own the rest.
Asian countries that led the way in controlling Covid-19 last year have become laggards in the battle against the virus as their efforts to vaccinate their populations fall behind other parts of the world. The problems with rollout vary from country to country, but across most of Asia one factor is constant: a lack of
European leaders have called for an immediate international response after Belarus forced a Ryanair flight bound for Lithuania to land in Minsk on Sunday and arrested one of its passengers, a top opposition activist. Sviatlana Tsikhanouskaya, Belarus’s exiled opposition leader, said online activist Roman Protasevich, resident in Lithuania, had been detained in the Belarusian capital.
The chief executive of AstraZeneca has insisted its Covid-19 vaccine has a future, as he revealed the UK had priority access to the jab and hit out at the “armchair generals” behind “traumatic” attacks on the company. In his first interview following a string of setbacks, including the emergence of rare fatal side-effects, Pascal Soriot
The world could “end the pandemic” in mid-2022 by vaccinating 60 per cent of the population at a cost of $50bn, the IMF has said, as rich countries and vaccine manufacturers pledged to address the inequality undermining the global response to coronavirus. Countries with sufficient vaccine supplies could afford to donate 1bn doses in 2021,
WeWork’s losses almost quadrupled to $2.1bn in the first quarter of this year, as the co-working company haemorrhaged more than a quarter of its members and shelled out hundreds of millions of dollars to restructure its property portfolio. Documents seen by the Financial Times showed lockdowns and remote working in the pandemic drove WeWork’s losses
An investment firm founded by the son of China’s most powerful financial official has invested heavily in technology companies, including units of leading Chinese internet groups Tencent and JD.com. Liu Tianran, son of vice-premier Liu He, was listed as chair of Tianyi Ziteng Asset Management, also known as Skycus Capital, when the firm was established
Nabil al-Kurd, a Palestinian, remembers the day Jewish settlers moved into his house, a modest one-storey home in Sheikh Jarrah, a mostly Arab neighbourhood in occupied East Jerusalem. Yaacov Fauci, a Jew from New York, arrived with a police guard on a sunny autumn day in 2009, threw out the furniture and moved into the
The World Economic Forum has been forced to scrap its plans for an in-person annual meeting once again, cancelling a gathering planned for August in Singapore as the city state imposed new restrictions and new Covid-19 outbreaks shake its members’ confidence. “Regretfully, the tragic circumstances unfolding across geographies, an uncertain travel outlook, differing speeds of
AT&T has agreed to spin off and combine WarnerMedia with its rival Discovery in a multibillion-dollar deal to create a media empire that has the programming heft to compete with Disney and Netflix in a global streaming race. The move will create the second largest media company in the world by revenue after Disney. It
Foxconn does not normally care too much about style. Even its investor conferences are held at the drab concrete-block building that houses the Apple supplier’s headquarters in an industrial suburb of Taipei. But in March, the world’s largest contract electronics manufacturer put on a real show: hosting 500 executives at a chic event space in
Israeli security forces struggled to quell worsening communal violence in its cities as it stepped up operations in Gaza against Palestinian militant group Hamas. Jews and minority Israeli Arabs fought each other in several Israeli towns overnight as Prime Minister Benjamin Netanyahu vowed to quell the rioting with “a lot of force” and warned the
Israel said it had deployed ground troops in its assault on Hamas in the Gaza Strip after five days of relentless bombing runs aimed at the Palestinian militant group that has fired more than 1500 rockets into the Jewish state, the Israeli army said. “Israel Defense Forces air and ground troops are currently attacking in
Boris Johnson, UK prime minister, announced on Tuesday that a public inquiry into the government’s handling of the pandemic would be held within the next year. He said “there will be a time when we must learn the lessons of what has happened” in the government’s efforts to beat Covid-19. The number of jobs available
US consumer prices rose 4.2 per cent in April over their level a year ago, a bigger jump than economists had expected, which could fuel concerns that inflationary pressures are settling in. The US inflation reading is attracting special attention because of fears among some investors, economists and analysts that hefty fiscal support, supply bottlenecks
Credit Suisse made just SFr16m ($17.5m) of revenue last year from Archegos Capital, the family office whose sudden collapse in March caused the Swiss bank $5.4bn in losses, according to people with knowledge of the relationship. The paltry fees Credit Suisse received from Archegos, whose implosion was one of the most devastating in recent history,
Warren Buffett opened Berkshire Hathaway’s annual meeting on Saturday with an upbeat assessment of the US recovery from the pandemic, saying business was “very good” in parts of the economy. In his annual address to Berkshire shareholders, the doyen of the investing world, aged 90, said US capitalism “has worked unbelievably well”. “This has been
The US will restrict incoming travel from India, a decision announced by the White House on Friday as the Indian government tallied another worldwide record for daily coronavirus cases with more than 400,000. Jen Psaki, the White House press secretary, said in a statement the restrictions would begin on Tuesday. Though Psaki did not specify
Amazon has reported its second straight quarter of $100bn-plus sales, comfortably beating Wall Street’s targets as it continues to reap the rewards of pandemic conditions. Net sales of $108.5bn in the first three months of the year helped the company achieve a net income of $8.1bn, up by more than 220 per cent on the
Joe Biden said America was “rising anew” in his first speech to a joint session of Congress on Wednesday night as he declared the country was experiencing a revival following a devastating pandemic and economic crisis. “After 100 days of rescue and renewal, America is ready for take-off,” Biden said. “We are working again. Dreaming
Listings on stock markets around the world are running at a record pace, with both deal numbers and values at their highest levels for the start of any year in at least two decades. This year, 875 initial public offerings each raising at least $1m have been clinched globally, according to data from Dealogic that cover
The US will share 60m doses of AstraZeneca’s Covid-19 vaccine with other countries, the White House announced on Monday, as the Biden administration comes under pressure to assist areas struggling to contain a new surge of cases. The White House said no decision had been made yet about which nations would receive the doses, although
Some of Credit Suisse’s largest shareholders will attempt to remove the board member in charge of risk oversight, in protest at twin scandals that have cost the bank and its clients billions and tarnished its reputation. Andreas Gottschling — a 53-year-old German who has served as chair of the risk committee since 2018, earning a
The board of Kansas City Southern will review a proposed $33.7bn offer from Canadian National, the latest twist in the takeover battle for the US rail operator which could yield the largest merger of the year. Kansas City Southern has already entered into a merger agreement with CN rival Canadian Pacific, which offered $28.9bn including