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☆ Prigozhin was thought to have died in a 2019 plane crash, only to reappear days later. This time, there's more evidence he's dead.
▼ + stars: | 2023-08-24 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Wagner Group boss Yevgeny Prigozhin is presumed dead after a plane crash outside of Moscow. He was incorrectly reported as having possibly died in a plane crash in 2019. The circumstances of the recent crash are unclear, but he was in a position to be punished by Putin. But this isn't the first time the warlord, who had attempted an uprising against Putin, is thought to have died in a plane crash. But some are still skeptical that Prigozhin is definitely dead, and are waiting for more evidence.

Persons: Wagner, Yevgeny Prigozhin, Putin, Prigozhin, Keir Giles, let's, that's, Vladimir Putin, Adrienne Watson Organizations: Service, Democratic, Novosti, Telegram, London, Chatham House, Washington Post, National, BBC Locations: Moscow, Wall, Silicon, Democratic Republic of the Congo, Russia's Tver, Russia, Africa

☆ Putin's old spy agency is a prime suspect for taking out Prigozhin's plane
▼ + stars: | 2023-08-24 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Russia's FSB appears the most likely party in the apparent death of Prigozhin. UK sources told the BBC the agency probably targeted the plane Prigozhin was apparently on. Putin once ran the FSB himself, and had a long career in its Soviet precursor, the KGB. Germany's foreign minister said the crash seemed to fit "this pattern in Putin's Russia: deaths, dubious suicides, falls from windows, all which remain unclarified – that underlines a dictatorial power system that is built on violence." AdvertisementAdvertisementWhite House National Security Spokesperson Adrienne Watson said that if Prigozhin's death is confirmed "no one should be surprised."

Persons: Prigozhin, Putin, Vladimir Putin, Wagner, Yevgeny Prigozhin, Alexei Navalny, Alexander Litvinenko, it's, Adrienne Watson, Flightradar24 Organizations: FSB, BBC, KGB, Service, Wednesday, Soviet Union's KGB, Kremlin, CIA, Guardian, National, Reuters Locations: Wall, Silicon, Russia's Tver, Moscow, Russia, Ukraine

☆ Bounce in European property stocks: false start or turning point?
▼ + stars: | 2023-08-24 | by ( Danilo Masoni | ) www.reuters.com time to read: +5 min

MILAN, Aug 24 (Reuters) - It's hard to be bullish about real estate in an environment of sharply higher interest rates. Two years of steep falls have made European property a short-seller favourite as sector valuations and investor positioning plunged to levels last seen during the 2008 global financial crisis. A gauge of European real estate shares (.SX86P) has halved in value to about $131 billion since 2021, but the mood shifted in July as earnings expectations improved. "Things aren't great for real estate companies and that's why they are trading at a huge discount. Meanwhile, BlackRock's iShares European Property ETF (IPRP.L) has seen a 10% surge in inflows from late February, according to data on its website.

Persons: Gerry Fowler, Zsolt Kohalmi, BlackRock's, Natixis, Banks, Charles de Boissezon, Kohalmi, UBS's Fowler, Danilo Masoni, Sinead Cruise, Elaine Hardcastle Organizations: MILAN, European Equity, UBS, European Central Bank, Pictet, Advisors, P Global Market Intelligence, Property, Bank of, Societe Generale, Equity, Thomson Locations: Europe, London, U.S

☆ Liontrust faces $14 million one-off charge after GAM offer failure
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

The logo of GAM investment management company is seen at its headquarters in Zurich, Switzerland July 29, 2019. The British company said it had secured backing from shareholders representing a total of 53,250,357 GAM Shares, corresponding to 33.45% of total stock subject to its offer. "Liontrust made a full and fair offer for GAM, which reflected the financial reality of the business and would have provided a certain and sustainable solution," John Ions, Liontrust CEO said in a statement. "We are disappointed we did not win the support of the majority of GAM's shareholders and are grateful to those GAM and Liontrust shareholders who did back our offer," he said. Separately on Thursday, GAM said it had begun "constructive and productive" refinancing discussions with representatives of the investor group Newgame.

Persons: Arnd, Liontrust, John, Sinead Cruise, Lawrence White Organizations: REUTERS, Liontrust, Management, GAM, AG, Thomson Locations: Zurich, Switzerland, Swiss, British

☆ NatWest weighs clawing back bonus from former CEO Rose
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The logo of NatWest Bank, part of the Royal Bank of Scotland group is seen outside a branch in Enfield, London Britain November 15, 2017. Rose stepped down on July 25 after admitting to a "serious error of judgment" in discussing Farage's relationship with NatWest-owned Coutts with a BBC journalist. Natwest said Rose would continue to earn a fixed salary and fixed share awards totalling 2.4 million pounds ($3.03 million), and pension contributions worth 10%, in line with her 12-month notice period and pending the outcome of the inquiry. "Like other employees where an investigation outcome is pending, Alison is currently receiving her fixed pay," a NatWest spokesperson said. The lender will pay new CEO Paul Thwaite 1.05 million pounds ($1.39 million) in fixed salary, just below the 1.16 million it paid Rose, in addition to a fixed share allowance of about 1.1 million pounds, NatWest said.

Persons: John Sibley, Alison Rose, Nigel Farage's, Rose, Coutts, Alison, Farage, Rose's, Paul Thwaite, Chandini, Lawrence White, Sinead Cruise, Sharon Singleton Organizations: NatWest Bank, Royal Bank of, Enfield , London Britain, REUTERS, NatWest, BBC, Natwest, Thomson Locations: Enfield , London, Bengaluru, London

☆ The West is wrong to criticize Ukraine for not focusing its counteroffensive in one area, say experts
▼ + stars: | 2023-08-23 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Western officials criticized Ukrainian counteroffensive tactics. Ukraine is making slow progress in its counteroffensive to drive back Russian forces. It also defended Ukrainian tactics on the southern front, where troops are trying to break through in the direction of occupied Melitopol. But as Ukraine struggles to make a decisive breakthrough, differences are emerging with Western allies over the tactics it's using. Some analysts believe that Ukraine has to achieve a decisive breakthrough in its counteroffensive soon, as a protracted conflict would be to Russia's advantage.

Persons: Vitaliy, Insider's Sinead Baker Organizations: Service, New York Times, Times, Adam Tactical Locations: Ukraine, Wall, Silicon, Russia, Washington, DC, Bakhmut, Ukrainian, Melitopol, Velyka, Crimea

☆ Video shows huge explosion from Ukrainian drone dropping a grenade on a hidden Russian ammo cache
▼ + stars: | 2023-08-23 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +2 min

A Ukrainian brigade said they blew up a store of Russian anti-tank mines. Intercepted Russian communications described it as a "small nuclear explosion," the brigade said. Ukraine's 68th brigade shared the footage on Tuesday, and said it showed one grenade hitting a Russian warehouse of anti-tank mines. The video shows a drone dropping a small gray object onto a dense patch of trees, and then a massive explosion. AdvertisementAdvertisementYou can watch the footage here:The brigade said it intercepted Russians talking about the destruction and they described it as a "small nuclear explosion."

Organizations: Service Locations: Russian, Wall, Silicon, Russia, Ukraine, Novoegorivka

This, regulators say, makes it harder for banks to cut costs and absorb losses in a downturn. But many bankers are expected to resist swapping guaranteed pay for potentially higher bonuses, which can swing wildly across economic cycles. UK Finance, the industry body for banks in Britain, did not respond to the public consultation, leaving individual members to comment if they wanted to. Others warned against overplaying the significance of bonuses in Britain's battle to grow its financial sector, still reeling from the loss of big-ticket listings, such as Arm Holdings. "Compensation is a small point in the grand scheme of things of a vibrant financial sector.

Persons: Toby Melville, Luke Hildyard, there'll, Suzanne Horne, Paul Hastings, Horne, Simon Patterson, Edelmann, Oliver Wyman, Sinead Cruise, Huw Jones, Tomasz Janowski Organizations: City of, Regulators, European Union, Bank of England, Financial, Bankers, Reuters, European Banking Authority, International Employment, Britain, EU, Finance, Arm Holdings, Thomson Locations: City, City of London, Britain, Banks, European, New York, Singapore, EU, Paris, Frankfurt, United States, Japan, Switzerland, London, Europe

☆ A prized Russian bomber was blown up 400 miles behind enemy lines, suggesting the attack came from inside Russia: UK intel
▼ + stars: | 2023-08-22 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Photos show a Russian Tupolev Tu-22M3 bomber destroyed at a base deep inside Russia, the BBC reported. The UK MOD said the attack likely came from within Russia as the drone could not fly all the way from Ukraine. UK intelligence analysts concluded that the type of drone, paired with the location, meant the attack likely originated from hostile units within Russia itself. The aircraft type has been used by frequently Russia to attack Ukrainian cities, the BBC and the UK Ministry of Defense said. Since Russia invaded Ukraine in February 2022, a small number of attacks have taken place inside Russia.

Persons: Vladimir Putin Organizations: BBC, MOD, Service, UK Ministry of Defense, New Locations: Russian Tupolev, Russia, Ukraine, Wall, Silicon, Russia's, Ukrainian, Novgorod, Tupolev, St Petersburg, Mariupol, Soltsky

☆ Who are Ukraine's 82nd Air Assault Brigade? A new elite unit armed with the best Western gear seems to have Russia rattled.
▼ + stars: | 2023-08-21 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukraine's elite 82nd Air Assault Brigade appears to have joined its counteroffensive fight. Ukraine's 82nd Air Assault Brigade created a stir when it joined the attack. The area has been the scene of intense fighting and where Ukraine says it has made small gains, Ukraine's Kyiv Post reported. This would mean that the 82nd battalion alone would have half of Ukraine's best infantry armored vehicles from its NATO allies, the Kyiv Post reported. And the Kyiv Post reported that the infantry vehicle component only began training in March.

Persons: Insider's Rebecca Rommen, Vladimir Solovyov, Rybar, Michael Clarke Organizations: Air Assault Brigade, Service, Ukraine's, Ukraine's Kyiv Post, Stryker, Challenger, Politico, 82nd, NATO, Kyiv Post, Forbes, Telegraph Locations: Wall, Silicon, Ukrainian, Russia, Ukraine, Robotyne, Ukraine's Kyiv, Kyiv, Verbove

☆ Ukrainian soldiers reject criticism that their counteroffensive is too slow: 'You need to move slowly, but always'
▼ + stars: | 2023-08-18 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +6 min

Two Ukrainian soldiers pushed back against those claiming Ukraine's counteroffensive is too slow. The soldiers told Insider they're making progress despite Russia's better weapons and deep defenses. Two soldiers with units on the front lines of Ukraine's fight told Insider that any such criticism was unfair and ill-informed. Drone footage of the area Ukraine's troops moved through near Bakhmut in July, marked by artillery hits. But experts say they see Ukraine making progress in its fight all the same, and that it appears to have ramped up in the last two weeks.

Persons: Russia isn't, Ukraine's, Vitaliy, Adam, Kryukov, It's, Volodymyr Zelenskyy Organizations: Service, Adam Tactical, Bakhmut, Ukrainian Locations: Wall, Silicon, Russia, Ukraine, Bakhmut

At current prices shares are now down about 16% in the year to date, surrendering gains up to Wednesday's close. Earnings before interest, tax, depreciation and amortisation (EBITDA) were 320 million euros ($348 million), down 10% from a year earlier and below analyst forecasts of 386 million euros, Refinitiv data showed. Revenue rose 21% to 739 million euros, against Adyen's mid-term forecasts of more than 25% growth. He said the economy overall is slowing and online payments growth may not be quite as fast as it was in the pre-COVID era. A similar margin decline led to a sell-off in Adyen shares when the company reported full-year earnings in February.

Persons: Eva Plevier, Hannes Leitner, Adyen, Toby Sterling, Sinead Cruise, David Goodman, Barbara Lewis, Jane Merriman Organizations: REUTERS, Company, Netflix, Microsoft, Spotify, JPMorgan, Revenue, Adyen's, PayPal, Jefferies, Thomson Locations: Amsterdam, Netherlands, AMSTERDAM, North America, Stripe, Braintree, Fiserv

☆ Ukraine says it downed 2 Ka-52 attack helicopters, which Russia calls the world's best, in a single morning
▼ + stars: | 2023-08-17 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Ukraine said it shot down two Russian Ka-52 attack helicopters on Thursday morning. But Ukraine has been fighting back: Independent weapons monitoring group Oryx said 40 Ka-52 helicopters have been confirmed as damaged or destroyed through visual evidence. The group added that in total 88 Russian helicopters have been confirmed as destroyed in Ukraine, with 12 more damaged and one captured. Insider reported in November 2022 that Ka-52s have been used more than any other attack helicopter by Russia in its full-scale invasion, which began in February 2022. Nico Lange, a Ukraine expert at the Munich Security Conference, told The Economist that Ka-52 attack helicopters are being picked off "piece by piece" by Ukrainian forces, in a sign that Ukraine is now making progress in its counteroffensive efforts.

Persons: Mykola Oleshchuk, Insider's Rebecca Rommen, Nico Lange Organizations: UK intel, Service, 47th Mechanized Brigade, Facebook, NATO, Kremlin, UK Ministry of Defence, Munich Security Conference Locations: Ukraine, UK, Wall, Silicon, Russian, Robotyne, Zaporizhzhia, Bakhmut, Donetsk, Russia, Kyiv

☆ Ukraine is figuring out how to destroy the Ka-52 helicopters and mobile artillery holding back its offensive, expert says
▼ + stars: | 2023-08-17 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Ukraine is picking off Russia's Ka-52 helicopters and self-propelled artillery, an expert said. Nico Lange, a Ukraine expert at the Munich Security Conference, said Ukraine's counteroffensive, which began in June, had started to make more progress in the last two weeks. And that number does not include two Ka-52 helicopters that Ukraine said it shot down on Thursday morning. Oryx also records 350 destroyed pieces of Russian self-propelled artillery, with 29 more damaged, seven abandoned, and 10 captured. But Lawrence Freedman, a war expert at the UK's King's College London, told The Economist that Ukraine is making progress.

Persons: Nico Lange, Russia's, Insider's Rebecca Rommen, Oleksii Reznikov, Volodymyr Zelenskyy, Lawrence Freedman Organizations: Service, Munich Security, UK Ministry of Defence, NATO, Kremlin, King's College London, Economist Locations: Ukraine, Russian, Wall, Silicon, Russia, Zaporizhzhia, Kyiv

☆ Bank of Ireland says it has fixed glitch that sparked flurry of withdrawals
▼ + stars: | 2023-08-16 | by ( Padraic Halpin | ) www.reuters.com time to read: +3 min

Signage is seen outside a branch of the Bank of Ireland in Galway, Ireland, August 6, 2020. Pictures posted on social media purported to show queues at some ATMs after the glitch became a trending topic on social media platform X, formerly known as Twitter. A statement from Ireland's largest lender by assets said: "Yesterday a technical issue impacted a number of Bank of Ireland's services. Ireland's central bank said it was monitoring the situation and engaging with Bank of Ireland to ensure any issues and errors identified were resolved for customers. The digital banking platform said earlier this year that it had more than two million customers in Ireland.

Persons: Clodagh, Padraic Halpin, Sinead Cruise, David Goodman, Mark Potter Organizations: Bank of Ireland, REUTERS, Rights, Twitter, Reuters, Bank of, Revolut, Thomson Locations: Galway, Ireland, Dublin, London

☆ Video shows Ukraine using thermal imaging drones to try to locate mines left by Russia to kill and maim its soldiers
▼ + stars: | 2023-08-16 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukraine is using thermal imaging and drones to find mines left by Russian forces. Ukrainian soldiers showed CNN their anti-mine strategy from the trenches on the front line. The outlet filmed soldiers using a drone with a thermal camera, which clearly showed the mines, glowing, on the soldiers' screen. The soldiers told CNN that after locating mines, they use special charges to blow them up so that their colleagues can move through the area. The New York Times reported that some Ukrainian soldiers have been blasted by mines as they try to help fellow soldiers hit by mines.

Persons: CNN's Nick Paton Walsh, Paton Walsh, Anton, Oleksii Reznikov, Volodymyr Zelenskyy Organizations: Russian, CNN, Service, National Guard Brigade, Guardian, New York Times Locations: Ukraine, Wall, Silicon, Robotine, Russia, Ukraine's, Ukrainian

☆ Ukrainian POWs said Russians gave them electric shocks and starved them, often extracting false confessions to make it stop
▼ + stars: | 2023-08-16 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Former Ukrainian prisoners of war said they were beaten, shocked, and not given enough food by Russia. They told the BBC that many Ukrainians gave false confessions because of the beatings. A Ukrainian human-rights group told the BBC that Russia used apparent false confessions by Ukrainians against them in court. Other former prisoners of war who were at Taganrog told the BBC that prisoners of war there gave false confessions after they were threatened and intimidated. They also told the BBC they were not given enough food, inspected daily, beaten, given electric shocks, and interrogated.

Persons: Artem Seredniak, We'll, Seredniak, Serhii Rotchuk, Dmytro Lubinets Organizations: BBC, Service, Azov Regiment, United Nations, UN, Wagner Group, Washington Post Locations: Russia, Wall, Silicon, Mariupol, Ukraine, Russia's, Taganrog, Russian, Ukrainian

☆ Pensions business boosts Legal & General H1 profit above expectations
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

LONDON, Aug 15 (Reuters) - Legal & General (LGEN.L) reported a forecast-beating operating profit of 941 million pounds ($1.20 billion) in the first half on Tuesday, boosted by its bulk annuity business, and said it was on track to meet its five-year ambitions. Analysts in a company-compiled consensus poll had forecast operating profit for the British life insurer and asset manager of 834 million pounds. Operating profit fell nearly 2% from a year earlier but analysts at Jefferies said they expected the results to be "well received" on Tuesday. British specialist insurer Just Group (JUSTJ.L) reported a 154% jump in first-half profit on Tuesday, also beating market estimates, boosted by bumper sales of its retirement income products and higher new business income. ($1 = 0.7868 pounds)Reporting by Carolyn Cohn in London and Eva Mathews in Bengaluru, editing by Sinead CruiseOur Standards: The Thomson Reuters Trust Principles.

Persons: Nigel Wilson, Jefferies, Carolyn Cohn, Eva Mathews, Sinead Cruise Organizations: General Investment Management, Thomson Locations: London, Bengaluru

☆ A leading Ukrainian doctor says mines second only to artillery as a cause of soldier injuries
▼ + stars: | 2023-08-14 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Mines are the second-most-frequent cause of injury for Ukraine's soldiers, a medical officer told The Guardian. Ukrainian soldiers have described the slow, desperate effort to progress through dense minefields. The secretary of the country's National Security and Defense Council, Oleksiy Danilov, called the density of Russia's mines "insane" earlier this month. In some cases, Ukrainian soldiers have been blasted by mines as they try to reach their comrades who were hit by other mines, the Times reported. One Ukrainian unit currently dealing with Russia's mines saw two sappers lose feet in explosions in the space of two weeks, The Guardian reported.

Persons: Serhiy Ryzhenko, Oleksiy Danilov, Oleksii Reznikov, Reznikov Organizations: Guardian, Service, country's National Security and Defense Council, New York Times, Times, Sky News, Ukraine, Ukrainian Locations: Russia, Ukraine, Wall, Silicon, Ukrainian, Dnipro, Ukraine's

☆ Ukraine is now the 'most heavily mined country in the world,' defense minister says, as he pleads for more de-mining equipment
▼ + stars: | 2023-08-14 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukraine's defense ministry said his country is now "the most heavily mined country in the world." Reznikov said that in some places there are five landmines for every square meter, or 11 square feet. Ukrainian soldiers are clearing mines by hand and exiting tanks to make progress, according to reports. Russia has been using mines heavily during the conflict, and Ukraine said dense minefields have slowed its counteroffensive efforts, which began in June. Experts told Insider that Russian forces had time to build up their defenses because Ukraine's counteroffensive efforts were delayed.

Persons: Reznikov, Oleksii Reznikov, Pete Smith, Volodymyr Zelenskyy Organizations: Service, Guardian Locations: Wall, Silicon, Russia, Ukraine, Bangalore, bangalore

Moscow's actions have deprived many foreign investors of the ability to trade in Russian securities, including depositary receipts. Investors are worried about future copycat actions by other governments who might look to reduce foreign influence over their leading companies. Depositary receipts, or DRs, are certificates issued by a bank representing shares in a foreign company traded on a local stock exchange. But events in Russia have forced many investors to write down the value of depositary receipts of Russian companies to zero, given their inability to trade them. CONSEQUENCESLoss of confidence in DRs could drain needed foreign capital from firms in emerging economies, for instance.

Persons: Dado Ruvic, Peter C, Earle, Christopher Day, Michael Ashley Schulman, Goldman Sachs, III, Detsky Mir, Goldman, Otkrytie, Schulman, Grzegorz Drozdz, Malcolm Dorson, Sinead Cruise, Carolina Mandl, David Gregorio Our Organizations: REUTERS, Global, American Institute for Economic Research, Reuters, Citigroup, Companies, Citi ., Reuters Graphics, DR, Investors, Doliver Advisors, Running, Capital Advisors, Conotoxia, Russian, Thomson Locations: Moscow, Ukraine, Brazil, China, Russia, GDR, GDRs, United States, Britain, London, Carolina, New York

☆ Stocks fall, yields rise after hotter than expected inflation reading
▼ + stars: | 2023-08-11 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

The U.S. producer price index (PPI) for final demand rose 0.3% in July, according to the Labor Department. And in the 12 months through July, the PPI rose 0.8% against estimates for a 0.7% advance. On Thursday, Wall Street's main indexes had finished flat, giving up most early gains on milder-than-feared consumer price inflation data. In currencies, the dollar index rose 0.107%, with the euro down 0.18% to $1.0959. On the U.S. Treasuries side, yields rose after the hotter than expected PPI.

Persons: Brendan McDermid, Paul Christopher, Christopher, Mary Daly, Sterling, Brent, Sinéad Carew, Elizabeth Howcroft, John Stonestreet, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Treasury, Reserve, Labor Department, PPI, Wells, Wells Fargo Investment Institute, Dow Jones, Nasdaq, San Francisco Federal Reserve Bank, Britain, International Energy Agency, Thomson Locations: New York City, U.S, Wells Fargo, St Louis, Asia, Pacific, Japan, London

☆ Ukraine is evacuating towns in an area it reclaimed last year, in a sign it could be losing ground to Russia
▼ + stars: | 2023-08-11 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukraine announced a mandatory evacuation of towns and villages under its control in the northeast. It's a sign Ukraine may be losing ground there, as Ukraine also reports shelling and a bomb attack. But Ukraine says it's stopping Russian advances in the area, as it continues its counteroffensive. The Kupiansk city military administration announced on Thursday a mandatory evacuation of towns and villages near the combat zone, citing shelling and the security situation in the area. The evacuation applies to almost 12,000 civilians from 37 towns and villages in the Kupiansk district, the Associated Press reported.

Persons: it's, Hanna Maliar, Liudmila Sezonova, Sezonova, Volodymyr Zelenskyy Organizations: Service, Associated Press, BBC, New York Times, Times, Russian, CNN Locations: Ukraine, It's, Wall, Silicon, Kharkiv, Russia, Kupiansk, Kindrasivka

☆ A Ukrainian making gear for the war says his cheap tech wouldn't work against the US or China, but 'we're fighting the Russians'
▼ + stars: | 2023-08-10 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

A Ukrainian producer of cheaper headsets for troops said they wouldn't work against China or the US. The company is part of an incubator that includes 100s of projects making military tech for Ukraine. Misha Rudominski, the cofounder of Himera Tech, which makes jam-resistant radio handsets, told Bloomberg that his technology "wouldn't defeat US or Chinese electronic warfare systems, but it doesn't need to. Himera Tech is part of a Ukrainian government incubator that has hundreds of projects making military technology. Himera Tech started working on its headsets after Russia invaded Ukraine in February 2022, trying to make more affordable models for Ukraine's military to use.

Persons: Misha Rudominski, Rudominski, Mykhailo Fedorov Organizations: Service, Himera Tech, Bloomberg, Himera Locations: Ukrainian, China, Ukraine, Wall, Silicon, Russia

☆ An arms dealer says he sold 49 secondhand Leopard 1 tanks to an undisclosed EU country to send to Ukraine
▼ + stars: | 2023-08-09 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

An arms dealer said he sold 49 Leopard 1 tanks to an unnamed EU country to send to Ukraine. German newspaper Handelsblatt, meanwhile, reported that the Leopard 1 tanks were bought by German arms maker Rheinmetall for use in Ukraine, and that the deal involved 50 tanks. Ukraine began receiving deliveries of Leopard tanks from its allies in February 2023, after months of asking for advanced armored vehicles. Older tanks, once discarded as obsolete, are now in high demand, The Guardian reported, given battlefield needs. Experts say that the West's hesitancy to send tanks to Ukraine gave Russia the time to build up its defenses.

Persons: Freddy Versluys, Versluys, Handelsblatt, Volodymyr Zelenskyy Organizations: Handelsblatt, Rheinmetall, Service, OIP, Systems, Guardian, Leopard, Reuters, Ukraine, Russian, Kiel Institute Locations: Ukraine, Wall, Silicon, Belgium, Germany, Russia

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