FirstFT: Russia launches fresh missile barrage

Russia has launched a new barrage of missiles at targets throughout Ukraine, hobbling the nation’s electrical energy infrastructure simply days after withdrawing its forces from the strategically vital metropolis of Kherson.

The Ukrainian air pressure stated greater than 90 missiles have been fired as a part of the offensive, which Kyiv stated was the most important every day fusillade for the reason that Kremlin retaliated after final month’s destruction of a vital bridge linking Crimea to the Russian mainland.

The Russian assault got here the identical day Zelenskyy advised fellow world leaders that whereas he was open to peace talks to finish the battle, he wouldn’t pause preventing over winter. In a video tackle to the heads of the world’s largest economies, assembly at a G20 summit in Bali, Zelenskyy reiterated that Ukrainian borders have been inviolable and weren’t open to negotiation.

His feedback comply with options by some US officers, together with navy chief Common Mark Milley, that winter could present a possibility to start negotiations with Russia and that Ukraine would possibly by no means be capable of expel Moscow’s forces from all its territory.

In neighbouring Poland, the federal government convened an emergency security meeting on Tuesday night after two folks have been reportedly killed by a missile strike near Przewodów, a village close to the Ukraine border.

5 extra tales within the information

1. G20 leaders to agree draft communiqué rejecting ‘period of battle’ World leaders gathered in Bali plan to sentence threats to make use of nuclear weapons, reflecting rising world nervousness round Russia’s battle in opposition to Ukraine. The language concerning the battle and Moscow’s repeated use of nuclear rhetoric is stronger than western officials forecast.

Elsewhere at G20:

• Chinese language equities sustained a rally yesterday after Joe Biden and Xi Jinping signalled a want to enhance US-China relations forward of the summit.

• Rich nations led by the US and Japan have offered Indonesia a $20bn package to assist pay for the coal-dependent nation’s shift to renewable vitality.

• Australia prime minister Anthony Albanese pressed Chinese language president Xi Jinping to lift punitive export sanctions, Xi, nevertheless, provided no speedy reduction.

2. International investigators pounce on FTX The collapse of Sam Bankman-Fried’s crypto empire has sparked an unlimited world investigation, with dozens of authorities circling the company as attorneys warn there could possibly be 1mn collectors in its chapter continuing.

3. Goldman paid $12mn to silence misogyny claims A Goldman Sachs associate accused executives together with chief government David Solomon of making misogynistic comments in a grievance that resulted within the Wall Road financial institution paying her a settlement totalling greater than $12mn, based on these aware of the matter. Goldman paid the settlement in 2020 in an effort to maintain the allegations secret, the folks stated.

4. India makes an attempt to shift focus from coal at COP27 India is drawing assist for its proposal for nations to conform to the phase down of all fossil fuels on the UN local weather summit, quite than the narrower deal to part down coal that was struck on the final summit. The nation was blamed for weakening the ultimate coal settlement at COP26.

5. Weak yen places Japan’s financial system into reverse in third quarter Japan’s financial system noticed an unexpected contraction for the primary time in a 12 months on the again of surging import payments within the third quarter, brought on by the yen’s plunge to multi-decade lows. GDP within the July to September interval shrank 1.2 per cent from the earlier 12 months.

Thanks to readers who voted in our ballot yesterday. Fifty-two per cent of respondents stated US-China relations will enhance on account of Xi and Biden’s assembly this week.

The day forward

Japan commerce steadiness knowledge Commerce steadiness figures for October are due out in the present day. Within the first half of this fiscal 12 months, Japan’s commerce steadiness stood at a deficit — partially due to the weak yen. (Reuters)

Rishi Sunak meets Joe Biden in Bali On the G20 summit in the present day, the brand new British prime minister and US president will meet in particular person for the primary time as pressure grows to finalise the Northern Eire protocol. (Guardian)

Nasa’s scheduled launch of Artemis I check flight mission The spacecraft’s two-hour launch window begins at 1:04am ET/2:04pm HKT — topic to native unsettled climate. It’s mission is to travel around the Moon from the Kennedy Area Middle, however the longer-term plan is to create a everlasting Moon base to assist missions to Mars. (Area.com, FT)

Be part of leaders together with Singapore’s Minister of Commerce and Business at our Commodities Asia Summit in Singapore on November 23. You can even comply with alongside on-line. Register here in your in particular person or digital go.

What else we’re studying and watching

Singapore Airways’ being pregnant pivot Up till this 12 months, the airline’s feminine cabin crew have been fired when they became pregnant, despite the fact that maternity discrimination is in opposition to Singapore legislation. Many hope that forthcoming anti-discrimination laws can be simpler in rooting out such practices.

Cracks within the US Treasury bond market As recession looms and most asset costs face a dramatic sell-off, the world’s most vital debt market is creaking as soon as once more. With the meltdown in UK gilts exposing the vulnerability of bond markets, can the US survive a wave of selling?

• Associated learn: Central bankers are to shift in the direction of a more gradual monetary tightening, economists predict, as current “jumbo” fee strikes present indicators of taming inflation and officers acknowledge the rising menace of recession.

China’s offshore ‘police service stations’ spark European alarm Beijing denies the police abroad service stations have any position in policing, although the Qingtian police named “foreign police work” as one perform of services in Barcelona and Budapest. The Netherlands has ordered two such services closed, and the UK safety minister known as stories of undeclared Chinese language police stations “extraordinarily regarding”.

Tech lay-offs educate us a lesson concerning the ‘battle for expertise’ As soon as upon a time, younger graduates thought they’d a option to make: they may develop into wealthy however depressing in an funding financial institution or legislation agency, or they may reside with out an enormous wage however do one thing extra enjoyable. Then the big technology companies came along, writes Sarah O’Connor.

Overseas corporations undertake ‘China for China’ technique Moderately than depend on Chinese language factories to provide items which might be finally offered elsewhere, some companies are adopting a method that goals to attract on deeper analysis and improvement services within the nation to make merchandise for a vast, growing domestic market.

Know-how

HTSI has rounded up five tiny gadgets with superpowers, together with a pen-sized translator that doubles as a scanner and a “no-faff” crowdfunded timer.