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Levi Strauss does not expect to be able to reopen in Russia this year, its chief executive said on Wednesday, a month after the California jeans maker suspended operations there “temporarily” in response to Vladimir Putin’s invasion of Ukraine. “The way things are going now, I’m not optimistic we’ll be back in business in full
Good evening, Two Financial Times reports from opposite sides of the world highlight the severe stresses on global food production from the shock of coronavirus followed by the war in Ukraine. In China, strict Covid lockdowns are exacerbating shortages of fertiliser, labour and seeds just ahead of the crucial spring planting season. Particularly badly affected
The US has imposed its most severe level of sanctions on Sberbank, Russia’s largest financial institution, and Alfa-Bank, the country’s biggest private bank, escalating its economic punishment of Moscow in response to atrocities committed by Russian forces in Ukraine. The announcement on Wednesday of “full blocking sanctions”, which prevent the lenders from transacting with any
Ukraine’s authorities have urged civilians in the Donbas region and around Kharkiv to evacuate after Russian forces stepped up their offensive in eastern Ukraine and further evidence emerged of atrocities by Moscow’s troops elsewhere in the country. Iryna Vereshchuk, Ukraine’s deputy prime minister, said on Wednesday the military authorities called on residents living in the
France’s presidential election is turning out to be a tight and unpredictable contest. The far-right Marine Le Pen is gaining ground on President Emmanuel Macron, who last month seemed assured of re-election. Financial markets are waking up to the possibility of a stupendous upset in the election’s second round on April 24. The spread between
Asset managers are on a shopping spree. After notching up $68bn worth of mergers and acquisitions last year — the biggest haul since 2007 on Refinitiv numbers — deals show no sign of abating. On Monday, Perpetual of Australia made a A$2.4bn ($1.8bn) bid for local rival Pendal. Last month, AllianceBernstein agreed to pay $750mn
Ever turned away briefly from watching a football match only to a hear a fellow spectator loudly exclaim “ooooft”? In such an instance, you’ll probably guess that someone has been poleaxed on the field, likely from a challenge that used to be referred to as a “reducer”. That was before, you know, injuring someone stopped
It might feel like Friday after the torrent of news that has washed through this week but, sadly, it’s only Wednesday. Which means, of course, it’s time for the answers to our Friday quiz. Enjoy: 1. Vladimir Putin said this week that Europe’s energy companies must start paying for their Russian gas in roubles. Which
China’s strict Covid lockdowns are exacerbating serious shortages of fertiliser, labour and seeds, just as many of the country’s biggest agricultural provinces prepare for their crucial spring planting season. According to official data, as many as a third of farmers in northeastern Jilin, Liaoning and Heilongjiang provinces have insufficient agricultural inputs after authorities sealed off