UK greyhound racing hit with drug scandal over illegal use of human ‘birth control pills’

This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersOil prices reached a two-week high due to optimism about a potential trade war resolution between China and the US. China is advancing towards energy self-sufficiency and becoming an "electrostate," while the EU's plan to phase out Russian...

SummaryBrussels is preparing to implement capital controls and tariffs against Russia if Hungary vetoes the extension of EU sanctions linked to its war in Ukraine. The European Commission indicated that a substantial portion of the sanctions could be shifted to a different legal basis, requiring only a majority of EU countries for approval. Amid ongoing diplomatic efforts for peace, Hungary's Prime Minister Viktor Orbán has threatened to block sanctions unless all 27 member states agree...

This article discusses the EU's ongoing efforts to maintain sanctions on Russia, with proposals for capital controls and trade tariffs if Hungary blocks their extension in July. As the EU prepares its 17th sanctions package, discussions are underway for additional measures targeting Russia's energy and financial sectors, especially in response to a potential ceasefire rejection. Additionally, the EU aims to enhance its digital infrastructure by pooling resources in a model akin to Airbus, promoting tech...

One scoop to start: Macquarie-controlled Southern Water has requested Ares Management and other lenders to forgive approximately £370mn of debt to facilitate new equity for its operating company. And another thing: Activist investor Elliott Management has gained support from influential proxy adviser Institutional Shareholder Services for all four board nominees in its campaign against Phillips 66. In today’s newsletter: Topics include Trump’s Middle East dealings, the EU-US antitrust dispute, and Santander’s stance on a UK...

Germany, historically a proponent of strict EU budget rules, is now seeking to relax them as it embarks on a €1 trillion spending initiative to bolster its armed forces and infrastructure. Finance Minister Lars Klingbeil's plans to exceed EU deficit limits, despite the recent easing of fiscal rules for defense, highlight the contradictions in Germany's fiscal stance and the broader implications for EU regulations. While the European Commission has provided some leeway, analysts predict that...

SummaryTwo major European trade unions have accused ECB president Christine Lagarde of undermining workers' rights by proposing changes to the central bank's works council, which would limit staff representatives' time for advocacy. The ECB's plan, which aims to be implemented by mid-2026, would require council members to split their time between representation and normal roles, drawing criticism from union leaders who argue it would hinder effective employee representation. Legal experts also express concern that these...