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Brussels suffered a humiliating defeat in its plans to position Saudi Arabia and 4 US territories on a whitening blacklist after nearly unanimous opposition from member states of the European Union .
EU diplomats mentioned that 27 of the 28 international locations, led by the UK, France, Germany and the Netherlands, had blocked the publication of the record , which additionally sparked fury in Washington and Riyadh.
Brussels argued that this record has used stringent standards to guard the European banking system from illicit money circulation after a sequence of high-profile scandals associated to cash laundering. The power of the opposition signifies that the European Fee should rethink its draft record of 23 non-EU territories deemed to have did not battle cash laundering. Brussels Briefing has extra. (FT)
Within the Information
The USA Opposes Publish-Brexit Commerce
The Trump administration was adopted an aggressive stance in direction of the UK on post-Brexit commerce negotiations, releasing "negotiating targets" that require higher entry to the UK marketplace for its agricultural merchandise and make sure that London won’t deal with its forex. (FT)
MSCI Will increase Weighting in China
MSCI, the world's main supplier of inventory indexes, has taken a decisive step in integrating fairness markets Chinese language interiors to worldwide capital In response to estimates, about $ 125 billion would go to the nation's shares this yr. (FT)
North Korea optimistic on the prime
The North Korean state information company expressed optimism in regards to the # 39, the result of the summit between Donald Trump Kim Jong Un, a day after The nation's overseas minister lamented the sudden failure of the talks, which ended with out an settlement between the leaders. In response to FT's editorial board, there’s nonetheless room to discover options. (FT)
The multinational oil group Royal Dutch Shell is making ready for felony proceedings in opposition to it over a Nigerian oil contract. 2011, of a controversial worth 1.three billion dollars. The Nigerian authorities claimed to have been the sufferer of a severe fraud involving bribes to Nigerian and present Nigerian politicians and oil executives through the switch of funds via accounts managed by Malabu, an oil group. Nigerian. Shell has at all times mentioned that transactions are reliable. (FT)
Amazon abandons its skyscraper initiatives in Seattle
Solely weeks after the brutal cancellation of the A $ 2.5 billion campus in New York, Amazon is now canceling the challenge to occupy a brand new skyscraper in Seattle after clashing with the town council. The purpose of rivalry is a tax on main employers to fund reasonably priced housing and homelessness companies. (FT)
Netanyahu faces prices for industrial relations
Israeli Legal professional Common Performs to Cost Prime Minister Benjamin Netanyahu for Corruption Resolution anticipated that jeopardizes one of many nation's oldest leaders, weeks earlier than a decisive election. What occurs subsequent? Right here is your information. (FT)
Trump orders a safety clearance for Kushner
President Donald Trump ordered his chief of state- main to grant permission to his son-in-law Chief Advisor Jared Kushner, a really secret safety clearance final yr, rescinded considerations raised by intelligence officers and main White Home lawyer . (NYT)
Tesla Automobiles turned extra reasonably priced
Tesla is about to launch its first client electrical community automobile, a $ 35,000 model of its fashionable mannequin three electrical automobile. To scale back prices whereas lowering costs, the corporate claims to undertake a radical new mannequin of on-line gross sales, eradicating most of its shops and eradicating the chance for potential clients to do commonplace assessments. (FT)
Sale of Attic Artwork
A Work of the Italian Renaissance Painter Caravaggio, Discovered within the Attic of 39, a home close to Toulouse in 2014 is to go on sale. The so-called 'Caravaggio within the attic' has been launched from its ban on French exports and can be auctioned at LaBarbe in Toulouse on June 27 for an quantity between 100 and 150 million euros. (FT)
Have you ever adopted the information this week? Reply our quiz. Which Canadian metropolis has created extra expertise jobs than San Francisco within the final 5 years? Toronto, Vancouver or Montreal?
The Day to Come
Deadline for the US-China Commerce Settlement
Washington had set a deadline of March 1 of the Beijing settlement a commerce deal, lest it’s confronted with a rise in tariffs on 200 billion dollars of Chinese language imports. Nevertheless, US President Donald Trump has introduced that he’ll delay the rise. If "additional progress is made", his administration is planning a brand new summit with Chinese language President Xi Jinping. In response to Edward Luce, Mr. Trump is "impatient to give up". (FT)
Sending Mannequins Into Area
The New SpaceX Dragon Crew Dragon Capsule n & # 39 can have no human passengers throughout his scheduled go to on Saturday. however he’ll put on a model wearing a spacesuit. NASA will carefully monitor the efficiency of the capsule as a part of its analysis of the spacecraft earlier than giving it the inexperienced gentle to move people. You’ll be able to watch the launch right here. (NBC Information, Nasa.gov)
Sustain-to-date on vital commerce, financial and political developments within the coming days with the upcoming FT Week.
What we & New Studying
The Fall and Ascension of a Small City in Arizona
When A visit on the quirky street within the Deep South, Bella Pollen discovers communities within the midst of reinvention. "Once I was a baby, the mine owned this metropolis," says one resident. "Forty years after retiring, it has lastly come to life. . . I’ll take life over loss of life from sooner or later to the following. (FT)
Lunch with the FT
The literary star escape from the primary new "viral" story, Cat Individual s & Sits with the FT this week. Kristen Roupenian's new e book comprises intrigues, together with a ghoulish trio ending in homicide. a girl who wants punches to understand intercourse; a person who has to faux to stab a girl with a knife to have intercourse (and these are those who could possibly be a part of the FT).
Sweep the bots 
From Jeremy Corbyn's supporters within the UK to public well being staff in Brazil, activists use "robots" on Tinder and different purposes to renew individuals profiles and ship automated marketing campaign messages to different customers who mimic actual conversations. (FT)
Arrest at residence
Meng Wanzhou, daughter of the billionaire founding father of China's telecom group Huawei, has been underneath home arrest since December 1. Her detention sparked a diplomatic storm between Washington and Beijing, however in Vancouver, the place Ms. Meng is at the moment detained, she represents a sympathetic member of the native Chinese language neighborhood. We despatched journalist Hannah Murphy to the costly district of Dunbar, the place Ms. Meng's $ four million mansion is positioned to measure the response of native residents, who’re on the middle of a political storm. and the media. (FT)
UBS whistleblower reveals that every part
A US courtroom has described as "worthy worthy of a challenge the challenge of 39, UBS to search for rich shoppers of different James Bond banks ". The Swiss financial institution has been discovered responsible of serving to rich shoppers keep away from paying taxes and being fined three.7 billion euros, and paying 800 million euros. euros in damages. Right here is the story of a former UBS junior advertising and marketing supervisor recruited by the French authorities to gather proof of wrongdoing by Swiss bankers throughout the French Open tennis match at Roland -Garros. (FT)
Neighbors in Warfare
A diplomatic battle erupted this week between the French state and the British authorities and the free market on the choice of the Netherlands to amass shares of the airline Air France-KLM. An assistant of the French Ministry of Finance mentioned: "It's a diplomacy like we've by no means seen it earlier than." Because the merger in 2004, the Dutch leaders are nervous in regards to the insidious management of the French on the nationwide firm. However with the native elections being held in three weeks within the Netherlands, the gesture of Dutch Prime Minister Mark Rutte is greater than political.
How does FC Barcelona put together for the way forward for soccer
FC Barcelona rivals its everlasting rival Actual Madrid for the unofficial title of the largest soccer membership on the earth. The Catalan membership, which ought to win a 26th Spanish title, has a brand new weapon in its arsenal: the Barcelona Innovation Hub. The hub group thinks of every part within the sport, from beet juice to digital actuality. We check out the most effective "soccer laboratory of the world". (FT)
Video of the day
Why might gene modifying "make the wealthy richer"
A Chinese language scientist claims to have created the primary printed genome of infants. Scientific commentator Anjana Ahuja believes that the main target will now be on genetic enchancment, however that the wealthy will profit probably the most and we’ve got barely begun to think about the implications. (FT)