FirstFT: Vladimir Putin accuses Wagner leaders of betraying Russia

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We proceed to comply with the fallout from Yevgeny Prigozhin’s weekend revolt in Russia. President Vladimir Putin yesterday condemned the organisers, saying they’d betrayed their nation and the fighters of their command.

In his first public feedback because the armed rebellion, an offended Putin informed Wagner paramilitaries to signal contracts with Russia’s defence ministry, go house or depart the nation for Belarus.

Putin, seen by many analysts to have been weakened by Wagner’s revolt, tried to enchantment to rank-and-file fighters, saying most of them have been “patriots of Russia” who had been “used” by their leaders.

In the meantime, Prigozhin, Wagner’s chief, has vehemently denied attempting to overthrow the Russian authorities. In a voice recording posted on Telegram yesterday, the warlord continued to criticise the nation’s defence institution and stated his aim had been to protest towards a current determination to disband his militia group and to show the weak spot of Russia’s home defences.

“We didn’t have the aim of toppling the prevailing regime, which is lawfully elected, as we now have stated many instances,” stated Prigozhin, who didn’t discuss with Putin by identify.

Listed below are some beneficial reads about essentially the most severe menace to Putin’s rule since he took workplace.

Right here’s what else I’m preserving tabs on right this moment:

  • Financial knowledge: Italy has enterprise and client confidence stories, and the US releases new house gross sales and client confidence figures.

  • Outcomes: Accsys Applied sciences, Prosus, Telecom Plus, Walgreens Boots Alliance and Sensible report.

5 extra high tales

1. HSBC’s determination to depart Canary Wharf for a extra central location in London displays the enterprise district’s waning attract after a shift in working habits. Barclays, Citigroup and Société Générale have closed ancillary workplaces and sublet flooring, whereas one other landmark tenant, Credit score Suisse, is in flux. With out the banks, what does the long run maintain for the east London monetary district?

2. Unique: The UK’s projected windfall tax take from the North Sea levy has dropped virtually 40 per cent to £26bn, reflecting a pointy fall within the value paid for oil and gasoline in wholesale vitality markets. When Chancellor Jeremy Hunt elevated an current windfall tax and prolonged it till 2028, the federal government anticipated the levy to boost as a lot as £41.6bn. Learn extra on the Treasury’s up to date forecast.

3. The far-right Various for Germany occasion has scored its first native victory in Sonneberg, triggering intense soul-searching over the group’s rise. With inflation, recession, an uptick in refugee numbers and dissatisfaction with Chancellor Olaf Scholz’s authorities, there may be worry that voters are turning away from mainstream events — or turning their backs on Germany’s democratic system altogether.

4. Unique: Vitol and Gunvor, two of the world’s largest impartial vitality merchants, stay important patrons of refined oil from Russia, in accordance with an evaluation of January-April export data filed with Russian customs. Buying and selling refined fuels from Moscow isn’t prohibited by western sanctions, however the problem of complying with value caps, and the reputational danger of continuous to commerce with Russia, has led many European merchants to stop coping with Russian flows solely.

5. Interview: The Democratic Republic of Congo has did not leverage its dominance in cobalt manufacturing, Man Robert Lukama, the brand new head of state mining firm Gécamines, informed the Monetary Instances, citing Indonesia’s sudden emergence as a rival cobalt provider. Learn extra about Lukama’s plans for a turnround on the firm and a evaluate of three way partnership preparations.

The Large Learn

Shemara Wikramanayake, chief government of Macquarie, which has grow to be recognized for its investments in public infrastructure, corresponding to UK water firms © FT Montage/Bloomberg

From filling British faucets with water to transporting gasoline throughout the southern US, Macquarie has grow to be quietly ubiquitous in international infrastructure, stepping in as governments privatise belongings. Now, with chief government Shemara Wikramanayake centered on local weather change, renewable vitality and digital infrastructure investments, few count on the Australian firm’s affect to decrease.

We’re additionally studying and listening to . . .

Variety of the day

A graphic that shows it costs £170,000 per person to send an asylum seeker back to Rwanda

An financial affect report launched by the UK authorities yesterday confirmed the financial savings from not offering lodging to asylum seekers and never processing them by the UK’s migration system can be about £106,000, making the entire web value per deported individual about £63,000.

Take a break from the information

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Further contributions by Benjamin Wilhelm and Gordon Smith

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