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☆ Niger coup leaders dissolve govt, declare Tiani head of state
▼ + stars: | 2023-07-28 | by ( Moussa Aksar | ) www.reuters.com time to read: +4 min

NIAMEY, July 28 (Reuters) - Leaders of the coup in Niger declared General Abdourahamane Tiani as the new head of state on Friday, and said they had suspended the constitution and dissolved all former institutions after overthrowing President Mohamed Bazoum. He represents the state of Niger in international relations," an officer said, reading out a statement. African countries, Western powers, regional and international organizations have reacted with alarm to the coup in Niger, insisting that Bazoum be freed and constitutional order restored. Niger borders three countries - Mali, Burkina Faso and Chad - that have also experienced military coups in the last two years. Niger so far has held them off better than Mali and Burkina Faso, where violence has only worsened since the military coups.

Persons: Abdourahamane Tiani, Mohamed Bazoum, Tiani, Bazoum, Josep Borrell, Kamala Harris, Boris Pistorius, Bate Felix, Anait, Nellie Peyton, John Stonestreet, Angus MacSwan, Nick Macfie Organizations: National Council, Bazoum, REUTERS, Islamic, West African States, European Union, United, European, EU, German, Spiegel, Thomson Locations: NIAMEY, Niger, Mali, Burkina Faso, Chad, France, Niamey, al Qaeda, Islamic State, West Africa's, Nigeria, Guinea, United States, Africa, EU, Germany, Italy

"The culture wars are coming to UK businesses, including the financial sector," said Andre Spicer, dean of City University's Bayes Business School. It also cited "risk factors including... controversial public statements which were felt to conflict with the bank's purpose". However, data from watchdog the Financial Ombudsman Service showed complaints about account closures represented a tiny fraction of a bank's overall customer base. Experts say other banks will now be scrambling to ensure their own policies and committees are behaving appropriately, to avoid further scandals. The CEO of Britain's biggest domestic bank Lloyds said on Wednesday the bank's own policies did not include looking at customers' political or personal beliefs.

Persons: Nigel Farage, Coutts, Andre Spicer, Howard Davies, Alison Rose, Rose, Peter Flavel, Charles Dickens, Queen Elizabeth II, Spicer, Harriet Baldwin, Bill Winters, Samuel Gregg, Banks, Gregg, University's Spicer, Rupert Younger, ", Sinead Cruise, Iain Withers, Lawrence White, Daniel Wallis Organizations: Brexit Party, NatWest, Bayes Business School, Coutts, Treasury, Bank of England, BBC, Standard Chartered, Farage, American Institute for Economic Research, Facebook, Financial, Service, Barclays, Lloyds, Centre, Oxford University's Said Business School, Thomson Locations: America

'ONLY HOPE' FOR STABILITY IN SAHELNiger became a democratic outlier in West Africa's Sahel region following military takeovers in neighbouring Mali, Burkina Faso and Chad since 2020. All four countries of the arid Sahel region, just south of the Sahara, are now run by military leaders after soldiers in Niger said on Wednesday night they had ousted President Mohamed Bazoum. France, which has had counter-insurgency troops in West Africa for a decade, has turned to Niger to base the bulk of its forces. Their role is solely to support Niger's army when local forces identify operations in the border regions connecting Mali, Niger and Burkina Faso. The European Union decided in December to set up a three-year military training mission in Niger, to which Germany contributes troops.

Persons: Mohamed Bazoum, juntas, Moussa Aksar, John Irish, Nellie Peyton, Bate Felix, Emelia Sithole, Leslie Adler Organizations: Islamic, National Assembly, REUTERS, European Union, DEMOCRATIC, Economic, West African States, ECOWAS, John, Thomson Locations: West Africa, Niger, Africa's Sahel, Mali, Burkina Faso, Chad, al Qaeda, Islamic State, Russia, France, United States, U.S, Russian, Niamey, ACLED, Germany, Italy, Guinea, Bissau, Guinea Bissau, Paris

☆ Oil giant Shell posts sharp drop in second-quarter profit on weaker commodity prices
▼ + stars: | 2023-07-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Picture Alliance | Picture Alliance | Getty Imageswatch nowShares of the London-listed oil major slipped 2% on Thursday morning. 'Softening oil and gas environment'French oil major TotalEnergies also reported weaker-than-expected earnings on Thursday, posting second-quarter adjusted net income of $5 billion. TotalEnergies CEO Patrick Pouyanne said the firm's "robust" earnings came during a "favorable but softening oil and gas environment." Norwegian oil and gas giant Equinor had on Wednesday reported a 57% decline in year-on-year second-quarter profit as oil and gas prices slipped from last year's high levels. Oil and gas prices were under pressure in the first half of the year, however, as global economic jitters outweighed supply-demand fundamentals.

Persons: downgrades, Stuart Lamont, Patrick Pouyanne Organizations: Getty, RBC Brewin, Shell, BP, Exxon Mobil, Chevron Locations: London, Ukraine, U.S

The ousting of Flavel is one of the first actions taken by NatWest's interim CEO Paul Thwaite, after the group's former CEO Alison Rose quit on Wednesday over the same matter. NatWest has faced intense scrutiny over the decision by Coutts to sever ties with Farage. An internal review obtained by the politician-turned-TV show host showed Coutts' wealth reputational risk committee had said his values did not align with the bank's own. Australian-born Flavel, who previously served as CEO of JPMorgan Private Wealth Management in Asia Pacific region, took the top job at Coutts in 2016. Mohammad Kamal Syed will step into the role of interim CEO of Coutts and NatWest's wealth businesses, Thwaite said, adding that Flavel was stepping down by "mutual consent".

Persons: Coutts, Peter Flavel, Nigel Farage's, Flavel, Paul Thwaite, Alison Rose, Rose, she'd, Farage, Howard Davies, Charles Dickens, Queen Elizabeth II, Mohammad Kamal Syed, Thwaite, Iain Withers, Sinead Cruise, Lawrence White Organizations: NatWest, BBC, Reuters, JPMorgan Private Wealth Management, Thomson Locations: Asia Pacific

☆ Southwest Airlines warns of higher full-year costs as quarterly profit falls
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

July 27 (Reuters) - Southwest Airlines (LUV.N) on Thursday warned of higher labor costs for the year and signaled softer pricing for the current quarter, stoking worries that rising operational expenses could add to a potential hit to travel demand from strained household budgets. American Airlines (AAL.O), United Airlines (UAL.O) and Delta Air (DAL.N) also fell between 1.0% and 1.5% premarket after Southwest's results. The airline attributed the fall in RASM, a proxy for pricing power, to tough comparisons from a boom in travel demand last year. U.S. airlines have reiterated resilience in travel demand, in part due to limited capacity, though concerns remain over the impact of rising interest rates on consumers' disposable income. Surging international travel demand has also grabbed a share from domestic travel, Alaska Air Group (ALK.N) said earlier this week.

Persons: stoking, Shivansh, Anil D'Silva, Shounak Organizations: Southwest Airlines, American Airlines, United Airlines, Delta Air, U.S, Alaska Air Group, Thomson Locations: RASM, Bengaluru

☆ Blinken criticises China's 'problematic behaviour' during visit to Tonga
▼ + stars: | 2023-07-26 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

[1/6] U.S. Secretary of State Antony Blinken shakes hands with Tonga's Prime Minister Hu'akavameiliku Siaosi in Nuku'alofa, Tonga, July 26, 2023. UPOU VAIPULU/Pool via REUTERSWELLINGTON, July 26 (Reuters) - U.S. Secretary of State Antony Blinken warned of China's "problematic behaviour" during a visit to the Pacific island nation of Tonga on Wednesday, citing Beijing's militarisation of the South China Sea and what he called economic coercion. Blinken said at a press conference that the U.S. had no objection to China's engagement with the region but there were concerns that its investments needed to be transparent and undertaken with sustainable finance. "I think one of the things that we’ve seen is that as China’s engagement in the (Indo-Pacific) region has grown there has been some, from our perspective, increasingly problematic behaviour," he said. Blinken said the United States was committed to both Tonga and the broader Pacific Islands.

Persons: Antony Blinken, Hu'akavameiliku Siaosi, UPOU, Beijing's militarisation, Solomon, Blinken, Siaosi Sovaleni, Joe Biden, Wang Yi, Lloyd Austin, Emmanuel Macron, Sovaleni, Nuku’alofa, Lucy Craymer, Stephen Coates Organizations: Tonga's, REUTERS, Tongan, U.S . Defense, Embassy, Thomson Locations: Nuku'alofa, Tonga, REUTERS WELLINGTON, Pacific, South, U.S, Australia, New Zealand, United States, Washington, China, Papua New Guinea, Vanuatu, Beijing, Wellington , New Zealand

☆ NatWest CEO resigns after admitting to 'serious error' over Nigel Farage leak
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: +4 min

NatWest CEO Alison Rose on Wednesday stepped down with immediate effect after she admitted a "serious error of judgment" in discussing former Brexit party leader Nigel Farage's relationship with the bank with a senior BBC journalist. The board appointed Paul Thwaite to helm NatWest for an initial period of 12 months, the company said in a statement. "The board and Alison Rose have agreed, by mutual consent, that she will step down as CEO of the NatWest Group," Howard Davies, chairman of the board, said. Coutts' website advises its clients should be able to borrow or invest at least 1 million pounds with the bank or hold 3 million pounds in savings. Britain's Financial Conduct Authority (FCA) said it had urged the NatWest board to review the matter independently and welcomed its statement.

Persons: Alison Rose, Nigel Farage's, Paul Thwaite, Howard Davies, Coutts, Rose, Farage, Peter Flavel, NatWest's Davies, Davies, Rose —, Simon Jack, Jack, Sheldon Mills, Andrew Griffith Organizations: NatWest, BBC, NatWest Group, BBC Business, Authority, Treasury, Reuters, Government Investments

July 26 (Reuters) - PacWest Bancorp's (PACW.O) shares rose nearly 38% in premarket trading on Wednesday, a day after smaller rival Banc of California (BANC.N) agreed to buy the lender for $1.1 billion in an all-stock deal. Banc of California's shares jumped nearly 13% after the lender said it would pay 0.6569 share to PacWest stockholders for each share they own. PacWest stock was trading at $10.47, higher than the offer price of $9.60 per share, per calculations based on Banc of California's closing price on Tuesday. "The deal marks a structural transformation for BANC and accelerates its evolution, with a much improved profitability profile exiting 2024." Private equity firms Warburg Pincus and Centerbridge Partners have agreed to invest $400 million in Banc of California's buyout deal.

Persons: Raymond James, David Long, Long, Ares Management, PacWest, Omar Fahmy, Fahmy, Warburg Pincus, Niket Nishant, Manya, Shinjini Organizations: Reuters, PNC, Western Alliance, Warburg, Centerbridge Partners, Manya Saini, Thomson Locations: California, Banc, U.S, Los Angeles , California, Bengaluru

NatWest lifer Rose climbed up the ranks over more than three decades from graduate trainee to boardroom, becoming the first woman to run one of Britain's major banks. "You can be a hero one day, a zero the next, as Alison Rose has found out." Davies lamented the "sad moment" while Rose paid tribute to colleagues who had helped her build solid foundations for the bank, in a statement accompanying the news. RBS TO NATWESTRose succeeded Ross McEwan as CEO of NatWest in 2019, becoming the lender's first female boss. But under Rose's supervision, the bank became one of Britain's biggest participants in government-designed loan schemes to keep ailing businesses afloat.

Persons: Alison Rose, Nigel Farage, NatWest lifer Rose, Coutts, Rishi Sunak, Rupert Younger, Rose, Howard Davies, Rose's, Davies, Charlie Nunn, Farage, impinging, NATWEST Rose, Ross McEwan, McEwan, Stephen Hester, Fred Goodwin, Lawrence White, Conor Humphries Organizations: NatWest's, Brexit Party, NatWest, Oxford University's, Lloyds Banking Group, Britain's, RBS, NATWEST, Royal Bank of Scotland, Thomson Locations: Europe, Westminster, Britain

☆ China is sending enough military gear, including drones, to Russia to equip an army, thanks to a loophole in the West's attempts to stop Putin's war machine: report
▼ + stars: | 2023-07-25 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Russian buyers are ordering significant amounts of Chinese military equipment, Politico reported. Russia has imported more than $100 million of drones from China this year alone, the report found. China has repeatedly denied sending military equipment to Russia since it launched its full-scale invasion of Ukraine in February 2022. But the US said it had not seen any evidence that China had given Russia weapons or lethal aid. Ukraine is also a customer for Chinese weapons, though Politico reported that its imports of many types of Chinese equipment have plummeted in 2023.

Persons: Vladimir Putin, hasn't, Helena Legarda Organizations: Politico, Service, Privacy, China, Ukraine, The Washington Post, Win, UK Ministry of Defence, Mercator Institute for China Studies Locations: Russia, China, Wall, Silicon, Ukraine, Shanghai, Russian, Bakhmut

NatWest has faced intense political and media scrutiny over a decision by its private bank Coutts to close Farage's accounts. In a post on the X social media platform on Wednesday, Farage called for further heads to roll in the wake of Rose's resignation. On Tuesday, Farage said on his eponymous TV show that Rose was "unfit" to run a bank. She realised that her comments had left Jack with the impression that the decision to close Farage's accounts was solely a commercial one, Rose said in the statement. Rose also said she was not part of the decision-making process to "exit" Farage's accounts and said this was a decision made by Coutts.

Persons: Alison Rose, Nigel Farage's, Paul Thwaite, Coutts, Farage, Rose, Simon Jack, Howard Davies, Davies, Peter Flavel, Jack, NatWest's, Sheldon Mills, Andrew Griffith, Iain Withers, Sinead Cruise, Urvi, Juby Babu, Simon Jessop, Mark Potter, Edwina Gibbs, Louise Heavens Organizations: NatWest, BBC, BBC Business, UK Treasury, Reuters, Government Investments, Authority, Thomson Locations: Bengaluru

☆ How 30,000 metric tons of coconuts are processed a year in Sri Lanka
▼ + stars: | 2023-07-24 | by ( Korey Isbell | Dorian Barranco | ) www.businessinsider.com time to read: 1 min

Western wellness influencers once dubbed coconuts the new "it" superfood. Even though nutritionists couldn't agree if they deserved the hype, people kept gobbling them up. Well, harvesting coconuts is dangerous work. Farmers risk their lives climbing 80-foot palm trees to get the fruit. We visit Sri Lanka to see how coconut farmers bear the burden of the West's superfood obsessions.

Persons: nutritionists couldn't Organizations: Farmers Locations: Sri Lanka

☆ Earnings playbook: Alphabet and General Motors lead off a busy week of reports
▼ + stars: | 2023-07-23 | by ( Fred Imbert | ) www.cnbc.com time to read: +12 min

Tuesday General Motors is set to report earnings before the bell, followed by a call at 8:30 a.m. What history shows: GM earnings beat earnings expectations 86% of the time, according to Bespoke. Alphabet is set to report earnings after the bell, with management slated to hold a call at 5 p.m. This quarter: Earnings for the tech giant are expected to have grown by 10% from the year-earlier period, per Refinitiv. What history shows: Bespoke data shows Alphabet earnings beat expectations 68% of the time, and the stock rises more than 1% on earnings day.

Persons: Michael Wayland, GM's EVs, GOOGL, Jennifer Elias, Goldman Sachs, Kash Rangan, Rangan, Peter Grom, Leslie Josephs, Max, Wells, Zachary Fadem, Jonathan Vanian, Meta, Refinitiv, Jefferies, Andy Barish, LUV, — CNBC's Michael Bloom Organizations: General Motors, Microsoft, Refinitiv, CNBC, company's, Silverado, United Auto Workers union, Investors, Management, PepsiCo, UBS, Boeing, Corporate, Twitter, Meta, Southwest Airlines, U.S, Southwest Locations: U.S, FactSet

☆ Ukraine's allies are shifting focus from donating weapons to fixing them as Western-supplied armor proves resilient to Russian fire, reports say
▼ + stars: | 2023-07-22 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +5 min

Ukraine's allies are shifting focus from donating weapons to repairing what is already there, a report says. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The US-made mine-resistant armored fighting vehicles have also been hailed by Ukrainian troops as being "almost indestructible." The group coordinates repair facilities and has helped Ukraine set up a supply support effort to help track high-demand spare parts. Since the beginning of the war, scores of countries have committed to sending billions of dollars worth of equipment to Ukraine.

Persons: William LaPlante, Bradley, Serhii Ivanov, Leon Neal, Carl Court, Ukraine's, LaPlante Organizations: Service, Pentagon, Politico, sustainment, German, The, Times Locations: Wall, Silicon, Europe, Ukraine, Russia, London, British, Poland, Nyzhche Solone, Kharkiv oblast

☆ US to 'beat up' airlines when necessary for passengers - transport chief
▼ + stars: | 2023-07-21 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

U.S. airlines have sparred with the administration in recent years over responsibility for flight delays, passenger rights, landing slots and other issues. President Joe Biden has often criticized airlines, saying in February "airlines can’t treat your child like a piece of baggage." While Buttigieg works with airlines when possible, he added: "We're going to beat 'em up when we think that's important to get passengers a better deal." United Airlines (UAL.O) CEO Scott Kirby recently suggested the Federal Aviation Administration had "failed us" before changing his tone. The Transportation Department plans to propose new rules requiring airlines compensate passengers for significant flight delays or cancellations when carriers are responsible.

Persons: Pete Buttigieg, Biden, We're, Buttigieg, Joe Biden, Scott Kirby, Michael Whitaker, David Shepardson, Jamie Freed Organizations: . Transportation, Reuters, U.S, Federal Aviation Administration, United Airlines, United, Southwest Airlines, Transportation Department, FAA, Thomson

☆ Factbox: U.S. banks increase reserves for commercial real estate exposure
▼ + stars: | 2023-07-21 | by ( Matt Tracy | ) www.reuters.com time to read: +5 min

While regional banks carry the greatest exposure to the commercial real estate (CRE) sector, second quarter earnings show that a number of big banks have prepared for potential defaults, primarily on office loans. However, Borthwick noted the bank's office CRE exposure was low relative to its overall loan portfolio, at 2%. CRE loans represented just 15% of the bank's overall lending book, while only 1% of the CRE loan portfolio was office-related. WELLS FARGO (WFC.N)The bank said it had a $949 million increase in its allowance for credit losses, primarily CRE office loans. WEBSTER FINANCIAL CORP (WBS.N)The regional bank's nonperforming CRE loans ticked up to $47.9 million last quarter from $35.8 million in the first quarter.

Persons: Goldman Sachs, Andrew Kelly, Alastair Borthwick, Borthwick, GOLDMAN SACHS, markdowns, Denis Coleman, Jeremy Barnum, WELLS, Charlie Scharf, Bruce Van Saun, Dominic Ng, East, James Leonard, MORGAN STANLEY, Webster, Glenn MacInnes, John Ciulla, Matt Tracy, Michelle Price, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, U.S, AMERICA CORP, GOLDMAN SACHS GROUP INC, Goldman, JPMORGAN CHASE &, JPMorgan, Citizens, EAST WEST BANCORP, East, BANCORP, WEBSTER FINANCIAL, Thomson Locations: New York City , New York, U.S, California, CRE

☆ Vintage Zelenskiy gets less than he wanted from NATO but takes home real gains
▼ + stars: | 2023-07-13 | by ( Tom Balmforth | ) www.reuters.com time to read: +6 min

That would mean the alliance itself would be at war, and leaders won't go that far. But by the end, after one-on-one meetings with U.S. President Joe Biden and other NATO leaders, Zelenskiy had softened his tone, describing the outcome as "good", though not "ideal". "It is very important: for the first time since independence, we have formed a security foundation for Ukraine on its way to NATO," Zelenskiy said, adding there had also been "a good reinforcement with weapons." On the summit's sidelines, Group of Seven countries unveiled an international framework to boost Ukraine's long-term security against Russia. A slew of other military packages were announced at bilateral meetings between Zelenskiy and NATO leaders.

Persons: Volodymyr Zelenskiy, Zelenskiy, Joe Biden, Neil Melvin, Biden, Putin, craven, Melvin, Mykhailo Podolyak, Olha Stefanishyna, Andriy Zagorodnyuk, Tom Balmforth, Sabine Siebold, Andrew Gray, Anna Dabrowska Organizations: NATO, Russia, Kyiv, U.S, Ukraine Council, London, Royal United Services Institute, Reuters, Eastern, Ukraine, Thomson Locations: Ukrainian, Vilnius, Ukraine, U.S, Russia, Kyiv, NATO, Zelenskiy, Moscow, United States, Germany, Bucharest, Reuters Ukraine

☆ Russia plans to build dozens of prison camps across Ukraine over the next few years, documents show, hinting Moscow's readying for a long war
▼ + stars: | 2023-07-13 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Russia has been imprisoning Ukrainian civilians since the early months of the invasion. A document shows that Moscow plans to build 25 more prison camps in Ukraine by 2026, per AP. War analysts previously noted how Russia is prepared for a protracted war. The plan is another reflection of what war analysts have described as Russia's vision for a prolonged war after Ukrainian resistance dashed Moscow's hope for a swift victory. The think tank also added that a prolonged war is a narrative that Russia would want to push to discourage the West's support for Ukraine.

Persons: Dara Massicot, German Intelligence Agency Bruno Kahl, Dmitry Medvedev, Medvedev, Mark Milley Organizations: Service, Russia, Associated Press, RAND Corporation, German Intelligence Agency, Russian Security Council, Ukraine, Kyiv, US, Chiefs, Staff Locations: Russia, Moscow, Ukraine, Wall, Silicon, Russian, Vietnam, Kyiv, Washington

☆ Ukraine's future in NATO is in a precarious position, and right now, neither Putin nor Zelenskyy is happy
▼ + stars: | 2023-07-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

Ukraine's future in NATO is up in the air, leaving neither Putin nor Zelenskyy happy. Meanwhile, Zelenskyy has expressed frustration and disappointment over NATO's timeline for Ukraine's membership. "It's unprecedented and absurd when time frame is not set neither for the invitation nor for Ukraine's membership. "No Russian leader could stand idly by in the face of steps toward NATO membership for Ukraine. And although Zelenskyy softened his criticism of the alliance's membership plans by the end of the summit, the war is dragging on — and Ukraine's NATO future is murky.

Persons: Putin, Zelenskyy, Volodymyr Zelenskyy, Vladimir Putin, Abrams, Serhii Mykhalchuk, William J, Burns, Putin's ramped Organizations: NATO, Service, Ukraine, Alliance, Storm, Soviet Union nations —, Russia Council, Soviet, Ukraine's, The New York Times, decapitate Locations: Russia, Ukraine, Wall, Silicon, Lithuania, NATO, Kyiv, Russian, NATO's, Bucharest, Georgia, Crimea

☆ Scottsdale, Arizona is the No. 1 city for renters based on quality of life—see the full list
▼ + stars: | 2023-07-12 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

WalletHub compared key quality-of-life measures in more than 180 rental markets across the United States. To rank the best states for renters based on quality of life, the report considered the following factors:Whether you're buying a home or renting, one major factor to consider in your search for the right state, city or neighborhood you move to is the quality of life you will have when you get there. Scottsdale, Arizona, topped the list of the best places for renters based on quality of life. Over the past two decades, it has been one of the fastest-growing cities in the U.S. and according to Henley and Partner's 2023 wealth report, it is also one of the fastest-growing cities for millionaires. From 2012 to 2022, Scottsdale saw an 88% millionaire growth rate and is home to 13,900 millionaires, 60 centi-millionaires, and five billionaires.

Locations: United States, Scottsdale , Arizona, McDowell, U.S, Henley, Scottsdale

"Today there are security guarantees for Ukraine on the way to NATO," he said. "The Ukraine delegation is bringing home a significant security victory for Ukraine." Speaking earlier alongside Zelenskiy, NATO Secretary General Jens Stoltenberg said Ukraine was closer to the alliance than ever before, and brushed aside new warnings from Russia about the consequences of supporting Ukraine. The security assurances for Ukraine had to be "credible", he said, in order to deter Russia from future attacks. Kremlin spokesman Dmitry Peskov said it was "potentially very dangerous" for the West to give Ukraine security guarantees.

Persons: Volodymyr Zelenskiy, Joe Biden, we're, Biden, Zelenskiy, Jens Stoltenberg, Rishi Sunak, Yves Herman, Stoltenberg, Dmitry Peskov, Dmitry Medvedev, Vladimir Putin, John Irish, Steve Holland, Justyna Pawlak, Sabine Siebold, Andrew Gray, Max Hunder, Gabriela Baczynska, Matthias Williams, Alex Richardson, William Maclean Organizations: Ukraine Ukrainian, Ukraine, NATO, Kyiv, U.S, British, REUTERS, Zelenskiy, Twitter, Thomson Locations: United States, Ukraine, U.S, VILNIUS, Russia, Russian, Germany, Japan, France, Canada, Italy, Britain, Zelenskiy, Vilnius, Lithuania, Budapest, Moscow, Netherlands, NATO, Kyiv, Soviet Union, Washington, Berlin, Europe

Erdogan's ties to Russian President Vladimir Putin have weighed on Turkey's relations with its traditional Western allies for years, along with other factors including concern over his increasingly autocratic rule. "Turkey doesn't want the Turkish-Russian relationship to be badly hurt, but this will inevitably have an impact on relations. Ankara has been important to Moscow as Erdogan has refused to join Western sanctions against Russia over the Ukraine invasion. 'ROSE-TINTED SPECTACLES'The Kremlin said it intended to develop relations with Turkey "despite all the disagreements". In 2009, Cyprus blocked six out of the 35 chapters Turkey must conclude as part of its EU accession negotiations.

Persons: Erdogan, Tayyip Erdogan, Vladimir Putin, Volodymyr Zelenskiy, Dalay, Washington, Biden, Putin, Dmitry Peskov, Peskov, Evren Balta, Orhan Coskun, Tom Perry, Mark Heinrich Our Organizations: NATO Russian, NATO, Western, Analysts, Ukraine, Chatham, VISA, Turkish, Reuters, Kremlin, Russia, European Union, EU, Union, Ozyegin University, Thomson Locations: Sweden, Turkey, Washington, ANKARA, ISTANBUL, U.S, Russia, Ukraine, Ankara, Moscow, Turkish, NATO, Republic of Turkey, Europe, Cyprus

☆ Australia PM's Germany, NATO trip to focus on trade, security
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 9 (Reuters) - Trade and security will be priorities for Australian Prime Minister Anthony Albanese on a trip this week to meet German Chancellor Olaf Scholz and attend a NATO summit in Lithuania, Albanese's office said. Australia is not a member of NATO but has a decades-long relationship with the Western alliance and attended last year's summit in Madrid as a non-member participant. "Alongside our NATO allies, Australia continues to demonstrate our unwavering support for Ukraine, and our condemnation of Russia’s illegal and immoral invasion," Albanese said in the statement. Last month, Australia promised a new A$110 million ($74 million) package to Ukraine, including 70 military vehicles to defend against Russia's invasion, taking Australia's total contribution for Ukraine to A$790 million ($530 million). Also this week, Australian Trade Minister Don Farrell will travel to Brussels, seeking to advance stalled talks for a free trade agreement between Australia and the EU.

Persons: Anthony Albanese, Olaf Scholz, Scholz, " Albanese, Don Farrell, Valdis, Janusz Wojciechowski, Farrell, Sam McKeith, William Mallard Organizations: SYDNEY, Australian, NATO, Labor, Atlantic, Organization, Ukraine, Australian Trade, EU, European Union, Reuters, Trade, Agriculture, Thomson Locations: Lithuania, Australia, Germany, Lithuanian, Vilnius, Madrid, Russia, Ukraine, Brussels, Sydney

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