
Starmer and Zelensky discuss anti-corruption in call
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Sir Keir Starmer and Volodymyr Zelensky have discussed the 'importance' of anti-corruption measures after the Ukrainian president faced protests over a controversial piece of legislation.
Mr Zelensky said that he raised his plans to ensure 'the independence and effectiveness of Ukraine's anti-corruption infrastructure' with the Prime Minister after his government in Kyiv faced their first major protests since the outbreak of war three years ago.
On Thursday the Ukrainian president announced that he would send a new anti-corruption Bill to the country's parliament.
Thousands of people gathered on the streets of Kyiv and other cities across Ukraine earlier this week protesting against legislation that will tighten oversight of two anti-corruption agencies.
The two leaders also spoke about sanctions on Russian energy revenues in a call on Thursday, Downing Street said.
Giving a read-out of their conversation, a Number 10 spokesperson said that the men 'agreed international partners must continue to ramp up the pressure on Russia'.
The spokesperson added: 'The Prime Minister underlined the UK's unwavering support for Ukraine, and the leaders agreed on the importance of the role of independent anti-corruption institutions at the heart of Ukraine's democracy.
'Both leaders underscored that (Russian President Vladimir) Putin must come to the negotiation table and agree an unconditional ceasefire to see a just and lasting peace in Ukraine.'
Mr Zelensky said that they had a 'very good and substantive conversation' when they talked on Thursday.
In a post on X he said that he 'spoke about the preparation of a bill aimed at strengthening the legal system and ensuring the independence and effectiveness of Ukraine's anti-corruption infrastructure'.
The Prime Minister 'suggested involving experts who could contribute to long-term cooperation', Mr Zelensky added.
Mr Zelensky and Sir Keir spoke in person last month when the Ukrainian leader was hosted by Number 10.
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Daily Mail
10 minutes ago
- Daily Mail
RICHARD TICE: Why ditching Miliband's Net Zero madness could save every family £1,000 a year
Labour is facing a make-or-break moment when it comes to its new cult, Net Stupid Zero. This week, Ed Miliband opens his latest renewable energy auction, which allows green developers to bid for lucrative taxpayer-funded contracts. The eco lobby says the auction, officially titled Allocation Round 7 (AR7), will be the centrepiece of Labour's plan to decarbonise the grid by 2030, and that this seventh round must be the biggest yet to 'keep the dream alive'. But it's a dream Britain cannot afford. Inflation is rising. Food prices are once again on the up. And families across the country are cutting back – not just on holidays or takeaways, but on essentials. According to research consultancy More In Common, 60 per cent of Britons list the cost of living as their top concern – and have done so consistently since January last year. And one of the biggest contributory factors to this crisis is an issue that almost no one in Westminster wants to talk about: Net Zero and the spiralling cost of Britain's green energy agenda. Expensive energy is the grenade exploding Britain's economic model. It is not just about switching on the lights and heating homes. It powers industry, transports goods, and underpins every job and price tag. When energy becomes expensive and unreliable, everything else does too. When you hear ministers blaming this crisis on Russian president Vladimir Putin and international fossil fuel markets, remember this: UK energy prices were already among the highest in the developed world before Russia invaded Ukraine. This emergency didn't start in Moscow. It was manufactured in Westminster. We blew up coal plants, messed up nuclear, banned fracking, deterred North Sea investment (which drove up gas imports) and prioritised unreliable green energy. From the other side of the Atlantic, even Donald Trump can see that, writing on his social media site Truth Social: 'North Sea Oil is a treasure chest for the United Kingdom. The taxes are so high, however, that it makes no sense... Incentivise the drillers, fast.' He rightly added that wind is 'the worst form of energy' and a con. When it comes to energy, Westminster has been Putin's most useful idiot. If the US is waking up to that fact, when will Labour? For nearly two decades, clueless politicians from Labour, the Conservatives and the Liberal Democrats have clung to a fantasy: that we could eliminate all hydrocarbon use, build a national grid dominated by wind and solar power, and suffer no consequences. The result? At a time of rising demand we are reliant on an unreliable energy supply and lumbered with higher bills. Three-quarters of the rise in electricity bills over the past decade can be attributed to green energy policies and the multi-billion-pound subsidies paid to renewable investors, according to Net Zero Watch. Yet hundreds of thousands of jobs are being destroyed by high energy prices, while millions more are at risk. Now suppliers are warning that prices will rise again in 2026. Professor Gordon Hughes, a former energy adviser at the World Bank, has warned they could approach 40p per kilowatt hour by 2030 – up from 25p today, which is a catastrophic increase. That's why I took action. Last month, I wrote to major windfarm developers, warning them and their investors to stay away from the AR7 auction. I made it clear that if they press ahead, a Reform government will make them regret it. As Nigel Farage said a few weeks ago about the renegotiation of green subsidy contracts, investors will see 'some haircuts'. Naturally, activists, consultants and subsidy-hunters – the 'Green Blob' – erupted in outrage. But, if these windfarms go ahead, it will be an act of grave economic self-harm. By putting a spanner in the works of Miliband's mad plan, we can stop the 20-year rise in bills. By 2030, my letter alone might be saving households £1,000 a year. But this isn't just about price. It's about security. Much of our ageing fleet of gas-fired power stations is nearing retirement. Thanks to subsidised renewables, few developers are willing to invest in replacements. Why build a power station that often won't run to full capacity, especially when Miliband's plan would make the existing situation even worse? Meanwhile, demand for new gas-fired electricity generating units is exploding globally as countries race to power the AI boom. Lead times of gas infrastructure projects are now as long as eight years. Even if we ordered replacements today, they wouldn't arrive until 2033. That's years after the capacity crunch is expected to bite. If we don't act fast, we'll be forced to ration power. Renewables may also be making the grid dangerously unstable. That's not just an economic risk, it's a public safety threat. Look at Spain and Portugal, where a blackout triggered by solar farm switch-offs killed at least eight people in June. Iberian grid operators restored power in a day, but our system is just as vulnerable. No one knows if the 'smart' gizmos grid managers hope will stabilise the system will actually work when it is under stress. Clearly, they need only fail once – and the whole country goes dark. Worse still, under political pressure, resources have been poured into connecting new renewables to the grid, rather than maintaining what we already have. As a result, our electricity grid infrastructure is crumbling. 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And it means restoring energy policies that prioritise affordability, reliability, and national security. This isn't just an economic battle. It's a democratic reckoning. The public, rightly, cares about the environment. But they never voted to be poorer, or to be saddled with unsustainable costs like green levies and hidden network charges that flow from Westminster's Net Zero agenda. That's why I won't apologise for going to war with the root causes of this crisis: green energy subsidies and their vested interests. The British people deserve leaders who will fight, not flinch, when livelihoods, families and the national interest are on the line. Let the battle begin.


Daily Mail
40 minutes ago
- Daily Mail
US nuclear submarines 'closing in' on Russia: Trump warns 'I want to be ready' as he ramps up tension in chilling war of words with former Russian president
US President Donald Trump last night confirmed that two US Navy nuclear submarines are 'getting closer to Russia ', dramatically escalating tensions between the two countries. Mr Trump ordered the submarines, packed with nuclear warheads, towards Russian waters after an online spat with former Russian president Dmitry Medvedev – now deputy chairman of Russia's National Security Council – who said: 'Each new ultimatum is a threat and a step towards war.' The sabre-rattling came after Mr Medvedev wrote on social media platform Telegram that Russia could invoke 'Dead Hand' – a doomsday program with the ability to automatically launch a nuclear counterstrike against major US cities, even if Moscow and President Vladimir Putin are wiped out. Mr Medvedev wrote: 'As for the talk about the 'dead economies' of India and Russia, and 'entering dangerous territory' – maybe he should recall his favourite movies about 'the walking dead,' and also remember how dangerous the so-called 'Dead Hand', that does not exist in nature, could be. 'He should remember two things: 1: Russia isn't Israel or even Iran. 2: Each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country. Don't go down the Sleepy Joe [a reference to former President Joe Biden ] road!' Writing on Truth Social, Mr Trump said: 'Based on the highly provocative statements of the Former President of Russia, Dmitry Medvedev, who is now the Deputy Chairman of the Security Council of the Russian Federation, I have ordered two nuclear submarines to be positioned in the appropriate regions. Words are very important and can often lead to unintended consequences. I hope this will not be one of those instances. 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RIA Novosti, a state-controlled news agency which has been called 'Putin's mouthpiece', confirmed it had sent enquiries to the White House, Pentagon, US Central Command and the National Security Council, but had not received a response. Mr Trump's dramatic doubling down came after the deadliest Russian air strike on Kyiv this year, when 31 people were killed in a single missile strike on an apartment block in the early hours of Thursday morning. Five children, the youngest aged just two, were among the dead. Mr Trump called the air strike 'disgusting' and announced he was sending his special envoy Steve Witkoff to the region to try and negotiate a ceasefire. Russian lawmaker Viktor Vodolatsky said there are enough Russian nuclear submarines in the high seas to tackle the two American subs. 'The number of Russian nuclear submarines in the world's oceans is significantly higher than the American ones, and the subs that US President Donald Trump ordered to be redirected to the appropriate regions have long been under their control,' he said yesterday. 'So no response from the Russian Federation to the American leader's statement about the submarines is required.' Retired US Marine Colonel Mark Cancian called Mr Trump's announcement that he had sent subs steaming towards Russian waters 'highly unusual'. He said: 'This is signalling in its purest form.' Others urged restraint, saying Mr Medvedev does not speak for Putin. Oligarch Mikhail Khodorkovsky, now a Putin critic living in London, said: 'When you see his [Mr Medvedev's] latest apocalyptic tweet about turning European capitals to dust, remember: this isn't strategic communication from the Kremlin. It's the rambling of a man drowning his terror in vodka.' The exchange of nuclear threats and references to Cold War-era systems evoked echoes of the Cuban Missile Crisis of 1962, the closest the world has come to full-scale nuclear war. The 13-day crisis occurred after Fidel Castro overthrew the US-backed government and aligned his new regime with the Soviet Union. President John F. Kennedy said US spy planes had spotted Soviet nuclear missile installations and threw a blockade around Cuba, even as Russian ships carrying additional warheads steamed towards the island, 230 miles off the tip of Florida. Nuclear bombers on both sides were put on round-the-clock alert, provoking terror in the US with schoolchildren being taught what to do in a nuclear attack. Soviet President Nikita Khrushchev eventually backed down and turned his ships around. He agreed to remove the nuclear missile installations in Cuba, in return for the US not invading the island. Mr Trump has spoken of his admiration for JFK, saying: 'He made the Soviets blink first.' 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Times
41 minutes ago
- Times
Trump's ‘biggest deal ever' is no such thing, but I have faith in Europe
European funds and shares jumped for joy when the American president, Donald Trump, announced he had agreed 'the biggest deal ever struck by anybody' with the European Commission president, Ursula von der Leyen. Unfortunately, the euphoria proved short-lived, as markets realised that this new deal means most companies in most countries will collectively pay billions more tax to trade in the world's biggest economy. However, slashing tariffs from 30 per cent to 15 per cent on most exports to America represents a substantial improvement on earlier fears. Closer to home, the British prime minister, Keir Starmer, also met Trump at one of his Scottish golf courses to — among other things — tee up American import taxes set at 10 per cent for our cars and zero for aircraft engines, which Starmer hailed as safeguarding our world-class automotive and aerospace industries. Coming down from the clouds of global politics and macroeconomics, this small, long-term DIY investor is glad I ignored many pessimistic predictions elsewhere to keep faith with British and continental funds and shares. This year's stand-out winner so far is a little-known London-listed investment trust, whose share price has soared 60 per cent since March. That's when I paid 53p for Seraphim Space Investment Trust (stock market ticker: SSIT) shares, as reported here at that time. They traded at 85p at close of play on Friday. One stellar attraction of this £239 million space technology fund is its focus on defence companies listed in Europe. These businesses are benefiting from increased demand from continental countries since America warned that everyone must pay more for our own security in future. But Seraphim's chief executive, Mark Boggett, emphasised that extraterrestrial technology can also have more peaceful applications. He told me: 'Satellite-driven weather forecasts are increasingly vital to modern agriculture, providing real-time, precise data that helps farmers make smarter decisions about planting, irrigation, pest control and harvesting. 'By reducing the uncertainty of unpredictable weather, these forecasts improve crop yields, enhance resource efficiency and build resilience. a Seraphim holding, is building its own satellite constellation to derive truly global data, enabling hyperlocal and highly accurate short-term weather forecasts. • A robot surgeon? I'll put my money on that 'These have achieved some impressive savings: 20 per cent less crop loss due to unexpected freezes or hail, and $41 saved per acre in wasted irrigation costs.' Less happily, bad weather in west Africa hit the cocoa harvest, pushing up the price of this commodity and hurting profit margins at the Swiss chocolate-maker Barry Callebaut (BARN). You might never have heard of this wholesaler but you have probably eaten its products, which are sold by better-known retailers such as the Cadbury-owner, Mondelez (MDLZ), and the KitKat-maker, Nestlé (NESN). The world's biggest chocolate-maker provides another example of how it can pay to be sceptical about talk of trade wars and instead believe that commercial relations will continue, despite shocks along the way. Barry Callebaut shares I bought for 766 Swiss francs in April now cost SwFr1,008. This is an increase of 31 per cent in little more than three months, which tastes sweet enough to me. On a sour note, Adidas (ADS), the German sports goods group, said Trump's tariffs would add €200 million to its costs because it makes 30 per cent of its trainers in Vietnam. That tripped up the share price, which plunged 18 per cent last week, causing this stock to fall out of my top ten. Ouch! • FTSE 100 slides as markets retreat on new Trump tariffs Higher taxes are bad for business, whatever opponents of free trade may say, because they transfer wealth from consumers and shareholders to governments. This explains why shares in the Dutch brewer Heineken (HEIO) slipped 7 per cent on Monday, despite it reporting higher than expected profits. Dolf van den Brink, the chief executive of the business, whose brands also include Amstel and Foster's, pointed out that the beer it exports from Mexico to America continues to face 30 per cent tariffs. He said Heineken is considering shifting more production to America, adding: 'We look at all options from continuing with our current set-up, a more hybrid version, or otherwise.' Amid all that anxiety and uncertainty, Heineken looks a bit hungover. But shares I bought for €45 in January 2014 were trading at €60 on Friday, yielding 3.2 per cent dividend income, so I intend to retain a glass half-full view of this global business. Similarly, easily my biggest European shareholding is the Paris-listed Franco-Italian firm EssilorLuxottica (EL), which makes a third of all the optical lenses on this planet. Its best-known retail brands are the American sunglasses makers Oakley and Ray-Ban, which now offer artificial intelligence-enhanced eyewear via a joint venture with the Facebook and Instagram owner, Meta Platforms (META). Sales of more than two million smart glasses since October 2023 suggest EssilorLuxottica is succeeding where earlier attempts at wearable technology failed. Google Glass, internet-enabled specs from the technology giant Alphabet (GOOGL), were largely withdrawn a decade ago and discontinued completely in 2023. • A 20% return in 4 months? I'm riding the investment trust wave But Oakley and Ray-Ban models, such as the classic Wayfarers, spare customers the embarrassment of feeling conspicuous and sales are rising strongly. While I have no wish to see share prices flashed up before my wondering eyes, this baby boomer likes the sound of discreet hearing aids, hidden away in stylish shades or spectacles. Either way, EssilorLuxottica shares I bought for €96 in March 2019 were coming through loud and clear at €259 on Friday and are now my fourth-most valuable holding. It all goes to show why it can pay to look through short-term fears and instead invest in long-term hopes that international trade will eventually return to something nearer business as usual. Even world-leading European healthcare companies cannot guarantee that shareholders will always enjoy healthy returns. Novo Nordisk (NOVO), the Danish pharmaceutical firm that was first to obtain authorisation for weight-loss wonder drugs, suffered a 25 per cent share price shrinkage last week. A profits warning wiped €60 billion off what had been Europe's most valuable company. Sad to say, there may be worse to come as Novo struggles with American tariffs, copycat drugs and the risk that it could become collateral damage in Trump's improbable bid to take over Greenland, which is a protectorate of Denmark. Yes, really. Mr Market is a manic depressive at the best of times, lurching from excessive exuberance to the depths of despair, and the drugs don't help. Despite the widespread popularity of Ozempic and Wegovy flab jabs, Novo has lost 66 per cent of its stock market value over the past year. What a downer! Fortunately, I first invested more than four years ago, when few Brits had heard of this business, paying 254 Danish krone per share in June 2021, allowing for a subsequent stock split. Then I sold a five-figure parcel at DK926 last August, as also reported here at those times. They fetched just DK309 on Friday. This raises the important point that it is never too soon to take a profit. If nothing else, we need to turn paper gains into real ones to compensate for losses elsewhere. Another Danish pharma firm, Bavarian Nordic Research Institute (BAVA), where I paid DK258 last August, had slumped to DK123 before it recommended a takeover bid at DK233 on Monday. We can't win them all. Full disclosure: Ian Cowie's shareholdings