• The Obama administration has launched the most ambitious plan in US history to combat climate change by proposing to regulate greenhouse gas emissions from power stations. But business groups and Republican politicians have vigorously attacked the proposals.
  • In the run-up to the 25th anniversary of the Tiananmen Square massacre, the FT looked at what happened to the leaders of the protests there. The South China Morning Post’s Tiananmen retrospective is rich with footage from 1989 as well as a clip from the “River Elegy” television series that argued that Chinese culture was backward and oppressive.
  • Contemplating the recent allegations over corruption and the 2022 World Cup in Qatar, Dan Hodges argues that nobody cares about football corruption – or racism, diving, biting or any of the sport’s range of controversies – because when it’s match time we are only interested in our team winning.
  • The New York Times reports on how Poland’s ardour towards the US has cooled in recent years and Poles are focusing on becoming a more integral part of Europe. The intensity of [the] love affair has diminished,” says the paper.

 

  • Chinese artist and former soldier Guo Jian had lunch with the FT and recalled his part in the Tiananmen protests 25 years ago. He was arrested today.
  • Despite attempts to protect whistleblowers on Wall Street, the personal price that they pay is still high.
  • Considering economists’ forecasting failures, should their predictions be taken seriously?
  • Edward Luce “would sooner consult the star signs” and says economists looking at the US should look at rising income and wealth inequality.
  • Western leaders will be looking to use the 70th anniversary of the Normandy landings as a chance to boost the legitimacy of President Poroshenko in Kiev.
  • The Kremlin invests around €100m a year in Russian media abroad in order to influence public opinion in the West and, according to Der Spiegel, it is winning the propaganda war.
  • The US soldier traded for Taliban fighters was allegedly a deserter.
  • In Srebrenica, graves are still being turned over – as are memories and accounts of the genocide.
  • The Sunday Times reveals that millions of documents show how secret payments helped Qatar to win the World Cup bid.

 

By Amie Tsang and Gavin Jackson

After a decade of negotiations, Russia managed to wrangle out a gas deal with China – and just in the nick of time.

Europe has been looking to extricate itself from its dependence on Russian energy, while Putin wants to show Europe that it has friends – and customers – in the east.

When China’s largest oil company signed up to a 30-year deal to buy from Gazprom up to 38bn cubic metres of gas per year from 2018, it helped the Russian gas company to make its first shift away from the west.

Europe’s demand for energy is critical to the Russian economy: gas and oil exports make up some 52 per cent of Russia’s government budget, which has slipped back into deficit in the last two years. So Russia needs to find another market for its energy exports. 

  • The languishing economy in northern Nigeria has driven recruitment into the brutal insurgency campaign.
  • Martin Wolf argues that to eliminate excess capacity and raise inflation to 2 per cent, the ECB needs to do “whatever it takes” again or the crisis might yet return.
  • In March, the Fed stated that interest rates may stay abnormally low even when unemployment and inflation are back to normal, but Janet Yellen has given no detailed explanation of why. Several of the possible explanations, says the FT’s Robin Harding, are either so tenuous or so gloomy that it is easy to see why a Fed chair might be reluctant to talk about them.
  • If Ukraine loses its southeast region, it could cut off half the economy and push the debt-to-GDP ratio to a dangerously high level.
  • Author Alaa al-Aswany argues for an Egyptian society when Egyptians who enjoy belly dancing don’t frown upon the women who dance, but appreciate the art form and the value of its performers.

 

  • Golden Dawn is filling in the gaps in the Greek welfare system and establishing itself in society for the years to come.
  • Despite his “Demolition Man” nickname, Matteo Renzi has responded cautiously to recent scandals and it still seems that corruption is the norm in Italy.
  • China’s property bubble could really burst and Beijing’s resolve to avoid traditional stimulus programmes is unlikely to hold, says George Magnus.
  • The Telegraph interviewed 27 European immigrants about their experience living in the UK. They discuss whether immigrants take jobs from the British and the British love for beer.

 

  • In the US the Libyan city of Benghazi has gone from being shorthand for the furore over the 2012 attack on the US embassy to a political weapon for the Republican party, says the FT’s Geoff Dyer.
  • Jeffrey Frankel, professor of economics at the Harvard Kennedy School, argues that the US is still the worlds largest economy by some distance: “the fact that rice and clothes are cheap in rural China does not make the Chinese economy larger. What matters for size in the world economy is how much a yuan can buy on world markets.”
  • Egypt is begging tourists to visit despite politicial turmoil as livelihoods dwindle and nest eggs disappear.
  • Boko haram doesn’t literally mean “Western education is a sin”. A more subtle translation of the name reveals that the group actually has a rather domestic focus.
  • As monarchic dynamics shift in the Arab Gulf, the disputes of the Kuwaiti royal family are shifting into public view.

 

  • With India in the middle of elections, David Pilling argues that the Congress party – which looks set for a drubbing – has done itself out of a job by actually making progress in its mission to eradicate poverty: Indians “have graduated from what Rajiv Kumar of the Centre for Policy Research calls the ‘petitioning’ class to the ‘aspirational’ one.”
  • A Chinese regulatory loophole means that the internet sector enjoys the most foreign equity investment of any part of the Chinese economy, though foreigners do not own a single share. Regulators have turned a blind eye but there is a risk it could all go wrong, writes the FT’s Charles Clover (riffing off the proposed IPO for Alibaba).
  • Want to know who to watch for in the European elections? Explore our interactive feature on the European Parliament – we profile 25 people to watch, from old guard to budding stars, power brokers and iconoclasts, federalist core and political fringe.
  • Sweden’s central bank sounded the alarm on the household debt burden: the average indebted Swede owes 296 per cent of their annual income, while the average mortgage holder owes 370 per cent.
  • The Tea Party is facing a struggle in Georgia, the state which has anchored its movement in the past five years. The Washington Post reports on how some of the Tea Partiers risk being squeezed out in a crowded field by some of the movement’s most reviled Republicans.

 

  • Pressure has grown on the Nigerian government to increase its efforts to rescue more than 200 schoolgirls abducted three weeks ago by Boko Haram militants.
  • Thailand’s prime minister has been ousted by judges in a contentious ruling that threatens to plunge southeast Asia’s paralysed economic hub into deeper turmoil.
  • Minecraft has smuggled an educational game past children and is helping to create the next Frank Gehry or Zaha Hadid, says Helen Lewis, deputy editor of the New Statesman.
  • Vladimir Putin is taking on the Russian language: David Remnick muses over how his ban on swearing will work.

 

  • If the eurozone FTT were adopted by the UK it would probably amount to a big tax cut for the City, but the British are still unlikely to support it because they are so allergic to EU taxes, says the FT’s Alex Barker.
  • Wealthy foreign investors have long used offshore companies to hold property in London, but the scale of the practice is raising eyebrows: between 1999 and 2012 nearly 100,000 UK properties were bought through foreign companies.
  • Central banks are using specific regulatory tools to tackle credit and house price growth, rather than raising interest rates, but there are questions over whether this regulation can stop a boom.
  • MI5 warns British corporate chiefs that foreign intelligence agencies are targeting their IT workers, hoping to use them to gain access to sensitive computer systems.
  • Vox explains Middle East history and the big stories in the region through the medium of maps.

 

  • If Narendra Modi becomes India’s next prime minister he may not be a tyrant (as his critics claim) but nor might he be an economic colossus (as his supporters believe), says the FT’s Victor Mallet. In fact, his economic accomplishments could turn out to be far more modest than market expectations.
  • Plans to restrict immigration in Switzerland are raising questions about the country’s relationship with the rest of the world and exposing the complications of the kind of arms-length relationship with the EU that eurosceptics around the continent crave.
  • Forty years after he first identified the deadly Ebola virus, the microbiologist Peter Piot returns to the village in the Democratic Republic of Congo where it all began.
  • Politico looks back at Hillary Clinton’s relationship with the media, which has spent decades raking over every aspect of her personal life as well as her political career, and how that could affect her decision to run for the presidency.
  • The New Republic reports from the Central African Republic on how the country is falling apart: “When looking for solutions to the horrors here, one is tempted to say that any ideas that don’t start or end with genocide qualify as good ones.”