EU Council president calls for ‘new security architecture’ with Russia

At the moment’s agenda: Uranium provide crunch; JPMorgan’s “large mistake”; who will succeed Xi Jinping?; airways braced for crowded skies; and the human assets reckoning

Good morning. At the moment marks the start of a doubtlessly decisive week for safety, as Europe’s strongest leaders collect in Paris for an emergency assembly on Ukraine and the way forward for the continent’s defence. Roula Khalaf and Henry Foy talked to António Costa on the Munich Safety Convention this weekend.

Costa’s warning: The EU have to be concerned in negotiations with Russia over the top of the Ukraine conflict so as to map out Europe’s future safety structure, the bloc’s president has stated. “It isn’t solely about Ukraine. The negotiations on the brand new safety structure have to bear in mind that Russia is a worldwide menace, not solely a menace to Ukraine.” Read the rest of the interview.

Trying forward: The US-Russia talks on Ukraine will formally start in Saudi Arabia this week when Donald Trump’s high diplomat Marco Rubio sits down with Russia’s Sergei Lavrov. Chatting with reporters on Sunday, the US president stated Ukrainian President Volodymyr Zelenskyy additionally needed the conflict to finish, and could be “concerned” within the talks.

“That is the start of the start. Issues are undoubtedly transferring,” Alexander Stubb, Finland’s president, instructed the FT. Referring to the date of Russia’s full-scale invasion, he added: “I feel the world order began to shift on the twenty fourth of February 2022, and we at the moment are seeing the path through which it could be going.”

Learn extra on Europe’s response to the fast-moving negotiations happening with out them.

• UK-US relations: Sir Keir Starmer is looking for to behave as “a bridge” between Washington and Europe in opposition to a backdrop of deepening transatlantic tensions.

• Ukraine: President Volodymyr Zelenskyy has rejected a US bid to take possession of round 50 per cent of the rights to his nation’s uncommon earth minerals and is attempting to barter a greater deal.

• Germany in disarray: The US vice-president’s sharp phrases on the Munich Safety Convention despatched shockwaves via the transatlantic alliance.

Right here’s what else we’re holding tabs on at present:

• UK financial information: Rightmove points its newest home worth index.

• Israel-Hamas battle: At the moment marks the five hundredth day since Hamas launched an assault on Israel on October 7 2023, amid considerations over Washington’s commitment to a fragile ceasefire deal.

• Outcomes: Tyremaker Bridgestone, property developer Lendlease and tech-based financial savings platform MONY Group report.

5 extra high tales

1. US and European vitality firms are at rising danger from a uranium provide crunch as demand surges for nuclear energy to gasoline all the pieces from family electrical energy to information centres, business figures have warned. The menace comes as Kazakhstan, the world’s greatest producer of the metallic, sells extra to Russia and China. Read the full report.

2. Unique: The top of meals retailer Iceland has given the Labour authorities a “six out of 10” regardless of having launched Sir Keir Starmer on the launch of his election manifesto final summer season. Ministers ought to do extra on planning reform and fixing Britain’s productiveness issues, Richard Walker told the Financial Times.

3. JPMorgan Chase’s alleged shut relationship with prosecutors will probably be a key focus in a trial this week over prison costs that entrepreneur Charlie Javice fraudulently induced the US financial institution to purchase her pupil mortgage start-up. Joshua Franklin and Sujeet Indap have more on the case.

4. Germany’s far-right candidate Alice Weidel emerged because the prime goal in a heated four-way televised debate forward of common elections subsequent Sunday. The co-leader of Various for Germany praised Donald Trump because the “proper man” to finish the conflict in Ukraine and urged her country to remain a “neutral mediator”.

5. Gold has change into the perfect performing “Trump commerce” in current weeks, outperforming different main asset lessons because the US president’s inauguration, as fears of a commerce conflict and a possible hit to world progress gasoline demand for the haven metallic. “When commerce contracts, gold takes off,” stated one analyst. Read the full story.

The Massive Learn

After greater than a decade of political purges and centralisation of energy, China’s strongest chief since Mao faces no direct problem to his authority. As he enters the midpoint of his third five-year time period in energy, China’s unstated query is turning into extra pressing: who will succeed Xi Jinping?

We’re additionally studying . . . 

Graphic of the day

The world’s skies have gotten crowded, as rockets, drones, and “flying taxis” within the close to future start to make use of airspace, inflicting complications for airways. Aviation specialists consider the way airspace is managed might want to change.

Take a break from the information . . . 

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