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EU looks at legally forcing industries to reduce purchases from China

Commission unveils €3bn strategy to de-risk and diversify supply chains for critical rare earth metals and elementsBusiness live – latest updatesThe EU is considering legally forcing industries to reduce purchases from China to insulate Europe from future hostile acts, the industry commissioner, Stéphane Séjourné, says.He made his remarks as the European Commission unveiled a €3bn (£2.63bn) strategy to reduce its dependency on China for critical raw materials amid a global scramble caused by Beijing’s “weaponisation” of supplies of everything from chips to rare earths. Continue reading...

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China threat to U.S. electric grid increases

China's government has penetrated networks used to control the U.S. electric grid and could use the covert access to shut down the flow of electricity to Americans in a crisis or conflict, grid experts warned Congress this week.

Family of Colombian man killed in U.S. strike in the Caribbean files human rights challenge

The family of a Colombian man has filed the first formal challenge to U.S. military strikes on alleged drug-carrying boats, arguing in a petition to the premier human rights watchdog in the Americas that his death was an extrajudicial killing.

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HSBC appoints interim chair Brendan Nelson to permanent role

Questions raised about permanency of 76-year-old’s appointment and ‘leadership stability at critical juncture for bank’Business live – latest updatesHSBC has appointed the former KPMG partner Brendan Nelson as its chair after a prolonged search process that left one of the world’s biggest banks without a permanent executive in the top role for months.The decision to appoint Nelson, who has been serving as interim chair, came as a surprise, after a protracted hunt for a permanent successor for Mark Tucker which involved courting external candidates including the former chancellor George Osborne and the head of Goldman Sachs’s Asia-Pacific division, Kevin Sneader. Continue reading...

Colombia’s president warns Trump: ‘Do not wake the jaguar’ with threats of military strikes

Gustavo Petro responded to intimations by US president of military strikes on Colombian soil to fight drug traffickingColombia’s president has warned Donald Trump that he risked “waking the jaguar” after the US leader suggested that any country he believed was making illegal drugs destined for the US was liable to a military attack.During a cabinet meeting on Tuesday, the US president said that military strikes on land targets inside Venezuela would “start very soon”. Trump also warned that any country producing narcotics was a potential target, singling out Colombia, which has long been a close ally in Washington’s “war on drugs”. Continue reading...