UK

  • An economic crisis in the Russian hinterland of Karelia, which exposes over-reliance on resource extraction and state jobs, is emerging as a microcosm of Russia’s woes
  • The rare spectacle of a banking chief behind bars is part of an unfolding crisis in the minuscule state of Andorra, wedged between France and Spain
  • Britain’s decision to join the Asian Infrastructure Investment Bank, seen as China’s answer to the World Bank, is a sensible decision – though not without risk, argues Martin Wolf
  • A former facial reconstructive surgeon turned bike gang leader has become a Russian patriotic leader, proponent of ultra-conservative views and vocal supporter of Vladimir Putin (Vice News)
  • How a slain Afghan woman became an unlikely champion for women’s rights (Washington Post)

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In his Budget speech to parliament on Wednesday, the UK chancellor George Osborne indulged in the traditional needling of his opponents on the opposite bench. Whether it was a dig at Ed Miliband, Labour leader, for his two kitchens, or at the party’s recent electioneering in a “women-friendly” pink van, his jokes at the opposition’s expense met with the usual roars of raucous approval from his own benches.

But the second biggest target of his needling was rather more surprising – our friends across the Channel. Read more

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By Gideon Rachman

The British are used to syrupy American tributes to the “special relationship” that binds the US and the UK together. But this week, the Brits heard rather different noises coming from Washington: growls of frustration at the direction of UK foreign and security policy. Read more

Despite a collective show of mourning for the assassinated opposition politician Boris Nemtsov, the prospects for Russia’s anti-Putin movement remain bleak

In one of his last interviews days before he was murdered, Boris Nemtsov told the FT that Russia had become a “country of war, of humiliated, hypnotised people” and that Putin had “brought Nazism into politics”

The egregious anomaly of the non-dom status, where the wealthiest enjoy the privilege of UK residency without paying their fair dues to the exchequer, should be scrapped, says the FT

Anatomy of a Killing: How Shaimaa al-Sabbagh Was Shot Dead at a Cairo Protest (Vice News)

‘Jihadi John’: a graduate of my radical London university, a place where extremism can fester and Islamist views were prevalent (Washington Post) Read more

Australia Day is typically when prime ministers attract positive headlines by doling out honours to people promoting good causes. But Tony Abbott, the gaffe-prone holder of the office, provoked a storm of controversy on Monday by awarding the country’s highest honour – knight of the order of Australia – to Prince Philip, the Duke of Edinburgh.

“I don’t get the priority the government had in nominating him,” said Bill Shorten, Labor leader. “It’s a time warp where we’re giving knighthoods to English royalty.” Read more

  • Bahrain’s royal family has built up vast private wealth, including a $900m portfolio of UK real estate, after embarking on development projects on disputed reclaimed land in the Gulf kingdom, an FT investigation reveals
  • The prospect of Greece’s self-styled “radical left” Syriza party coming to power has sown panic among investors, but its leader has softened his rhetoric and is changing tactics to reassure the business community
  • Beneath the surface of gridlock and hyper-partisanship in US political life is a national security establishment whose influence endures administrations and constantly seems to evade constraints
  • Narendra Modi has not made many sweeping reforms since he stormed to India’s premiership in May. But he has made some reforms about sweeping – showing his feel for the issues that affect the masses outside the Delhi beltway
  • The extent of the UK’s military and political catastrophe in Afghanistan is hard to overstate. It was doomed to fail before it began, and fail it did, at a terrible cost in lives and money, writes James Meek in the London Review of Books

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Scotland has voted decisively to reject independence, meaning the country’s 307-year-old union with England and Wales remains intact. The No campaign secured over 55 per cent of votes in the referendum, though the UK will now undergo a major period of constitutional change as powers are devolved outside of Westminster.

Voting ended at 10pm, and by 8am UK time, all but one of Scotland’s 32 councils had declared final results on a record turnout of over 85 per cent.

By John Aglionby, Claer Barrett, Gavin Jackson, Martin Stabe, Mark Odell and Lindsay Whipp

 

A friend of mine in Scotland who supports the UK has just sent me an e-mail about his impressions of the campaign ahead of the vote on Scottish independence on Thursday. I think it is an evocative and alarming piece of writing, so here is the email in full: Read more

It is one of Beijing’s worst nightmares: subjects in a resource-rich semi-autonomous province hold a vote on independence.

So when Premier Li Keqiang was asked in June where he stood on Scottish independence, it came as no surprise that he backed the union. Read more

A spike in the cost of government borrowing is raising the spectre of Venezuela defaulting on its more than $80bn of sovereign debt

Italy’s anti-euro, anti-immigrant Northern League party is seizing on the Scottish referendum to relaunch calls for secession of the north of Italy

A meeting between the leaders of China and India next week underscores the slow thaw in the countries’ relations as their economic links strengthen

Isis is recruiting in Istanbul‘s impoverished suburbs, often through religious study groups, to boost its ranks of fighters and populate its self-declared caliphate. Read more

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In his 2011 book ‘Vanished Kingdoms: The History of Half-Forgotten Europe’, the historian Norman Davies writes: “That the United Kingdom will collapse is a foregone conclusion. Sooner or later, all states do collapse… Only the ‘how’ and the ‘when’ are mysteries of the future.”

A ‘Yes’ vote in Scotland’s September 18 referendum is a distinct possibility. According to Peter Kellner, one of Britain’s foremost opinion poll experts, the pro-independence forces were, by the start of this month, gaining about four votes for every one lost, whilst the unionists were losing about two supporters for every one they were winning. Read more

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Treasury Select Committee...Bank of England governor Mark Carney answers questions in front of the Treasury Select Committee in the House of Commons, central London, on the subject of the Bank of England's quarterly inflation report and Scottish independence. PRESS ASSOCIATION Photo. Picture date: Tuesday March 11, 2014. Later today he will answer questions on the 'Economics of currency unions' and the Bank's Foreign Exchange Market Review. See PA story ECONOMY Bank. Photo credit should read: PA Wire

The Bank of England will weigh the weakness of Britain’s wage growth against the strength of its economic recovery when it delivers fresh forecasts in its quarterly inflation report on Wednesday morning, containing signals about when a rise in interest rates is likely.

<To be delivered in tandem with the latest UK employment data, the BoE’s estimates of the amount of slack in the economy will be one of the most closely watched metrics. At the last quarterly inflation report in May, the BoE estimated the amount of spare capacity was between 1 – 1.5 per cent, judging there was room for this to narrow further before rates tightened.

By Sarah O’Connor and Claer Barrett

 

The UK decision to send ground attack aircraft to perform reconnaissance missions over Iraq has led to mounting speculation that it could soon join the US in conducting bombing missions against Islamist extremists terrorising the local population.

The British government has so far resisted calls from some politicians and former officers to join the US in launching air strikes against insurgents from the Islamic State of Iraq and the Levant (known as Isis). But the type of aircraft it has sent to the region – the Tornado GR4 – leaves the option open. Read more