Canada’s top banks more than doubled their financing of highly polluting tar sands oil to $16.8bn in 2021, despite signing up to the UN’s net zero banking alliance on greenhouse gas emissions. Lenders including Royal Bank of Canada, Toronto-Dominion Bank and the Canadian Imperial Bank of Commerce increased their financing to the top 30 tar
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Eon has ruled out extending the life of its nuclear power plant in Germany, even as Europe’s largest economy prepares for the rationing of energy supplies and to wean itself off Russian hydrocarbons. “There is no future for nuclear in Germany, period,” said chief executive Leo Birnbaum. “It is too emotional. There will be no
Lawyers are anticipating a new wave of litigation related to the Covid-19 pandemic over the next two years, a new survey has found. The London Solicitors Litigation Association (LSLA), which represents the capital’s main litigation practices and law firms, found that 78 per cent of lawyers questioned expected a rise in Covid-related claims. The study
After almost two years of working at home with my family, it’s good to finally spend quality time with my office relatives. Does that mark me out as a Pollyanna? Anyone who has read a novel, been in therapy, or just been alive knows families can be supportive but also dysfunctional. You can pick your
Israel’s NSO Group has been deemed worthless to its private equity backers, just three years after they bought the maker of the notorious Pegasus spyware at a $1bn valuation. It has become “abundantly clear” that the equity in NSO is “valueless”, the consultancy firm brought in to manage the fund that owns the blacklisted cyber
Danish green energy company Orsted is building its coal stockpile in anticipation of burning more of the fuel next winter, just as the EU approved a ban on Russian coal imports as part of a fifth round of sanctions. Chief executive Mads Nipper said a global shortage of wood pellets, which fuel Orsted’s biomass power
This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here. Specification: Growth, unemployment, inflation, labour market, living standards, real wage Click to read the article below and then answer the questions: Underlying UK wage growth lower than headline figures, think-tank warns What is meant by
The largest US banks are set to report their biggest slowdown in investment banking revenue in years next week, as the dealmaking engine that helped propel Wall Street to record profits last year sputters. Banks started the year braced for a slowdown in dealmaking activity following a blockbuster 2021 supported by markets and widespread stimulus
Austrian chancellor Karl Nehammer will on Monday become the first European leader to meet Russian president Vladimir Putin since Moscow’s invasion of Ukraine began six weeks ago. Nehammer’s trip to Moscow is part of efforts to promote a “dialogue” between Russia and Ukraine, according to chancellery officials, who said he would specifically raise the issue
EU member states are at loggerheads over demands for an immediate blockade on Russian oil imports as the soaring cost of living weighs heavily on politicians considering how to punish Moscow over its war in Ukraine. Momentum is growing in the EU for fresh curbs on Russian fossil fuels as evidence mounts of atrocities against
The British meat industry has called on the government to fast track the export of perishable goods after congestion at the port of Dover left lorries carrying fresh produce waiting up to two days to cross the English Channel. The delays had been caused by the cancellation of voyages by P&O Ferries, bad weather, increased
Hello and welcome to the working week, Easter is almost upon us — although as Week Ahead readers are well aware it will take a little longer for the orthodox church. This will mean a shorter working week for the next fortnight and we will be taking a break next week. Tragically, one thing that
The UK housing secretary is set to claim an important victory in his battle to resolve England’s building safety crisis this week, having pressed developers into setting aside more than £2bn to fund critical repairs. Michael Gove’s hardball approach towards builders has paid off, with all publicly listed developers committed to a government pledge to
French voters began casting their ballots on Sunday in the first round of a presidential election in which far-right leader Marine Le Pen is mounting a strong challenge to the incumbent Emmanuel Macron. A victory for Le Pen, who is sceptical about the EU and Nato and has in the past boasted of her ties
The writer is professor of energy and climate change at University College London and was former senior adviser to energy regulator Ofgem The defining feature of the UK energy strategy is its incoherence. It doesn’t know what problem is it is trying to solve — and thus it doesn’t solve any. By failing to boost
Russia has boosted the fund that cushions its sanctions-hit economy with $3.4bn in additional oil and gas revenues thanks to rising energy prices since the start of its war with Ukraine, as it edges closer to its first debt default since 1998. Moscow said on Sunday that it would direct an additional Rbs273.4bn ($3.4bn) to
Britain’s public broadcaster wants its workforce to reflect the population it serves. By 2028 at the latest, the BBC hopes a quarter of its workforce — currently numbering 20,300 — will be from “a lower socio-economic background”. What does that mean? Brits spot class signifiers as keenly as police sniffer dogs locate loosely-bagged marijuana. Accents,
Covid cases in Shanghai hit their highest level yet as authorities in the locked-down city stepped up their battle to suppress China’s worst outbreak in two years. Shanghai, which is sealed off from the rest of the country as part of the most severe citywide measures since the virus emerged in Wuhan, reported 24,952 new
Just over a week ago, the United Nations made an announcement that prompted a biting put-down from a climate journalist named Megan Darby. “Ban the UN from naming things. I’m serious,” wrote Darby, after the UN launched an anti-greenwashing unit that it called the “High Level Expert Group on the Net-Zero Emissions Commitments of Non-State
Your browser does not support playing this file but you can still download the MP3 file to play locally. In the second episode of this season of Tech Tonic, James Kynge, the FT’s Global China Editor, asks how significant Chinese intellectual property theft has been to the country’s rise as a global tech superpower. We