A Look Inside the Case That Enshrined Political Power for Billionaires

© Keystone Press Agency/ZUMA Press Wire, via Reuters

© Keystone Press Agency/ZUMA Press Wire, via Reuters
London-headquartered bank’s shares slide as it sets aside an extra $300m to cover effects of Middle East conflict
HSBC has taken a $1.3bn (£961m) hit to profits, amid the fallout from the US-Israel war on Iran and fraud in the troubled private credit sector.
The London-headquartered bank said profits fell 4% in the first three months of the year, dropping $100m to $9.4bn, compared with the same period in 2025. Revenue increased 6% to $18.6bn.
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© Photograph: Tolga Akmen/EPA

© Photograph: Tolga Akmen/EPA

© Photograph: Tolga Akmen/EPA

© Desiree Rios for The New York Times
New law proposes up to 20 years in prison for promoting ‘foreign interests’, and restricts those who work with or are funded by overseas partners
Ugandan opposition figures, human rights organisations and legal experts have condemned a sweeping bill that proposes up to 20 years in prison for promoting “foreign interests”, and imposes restrictions on a broad range of people and organisations that work with or receive funding from overseas partners.
The protection of sovereignty bill 2026 is being fast tracked through parliament, with debate expected to conclude before the presidential swearing-in on 12 May.
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© Photograph: Yasuyoshi Chiba/AFP/Getty Images

© Photograph: Yasuyoshi Chiba/AFP/Getty Images

© Photograph: Yasuyoshi Chiba/AFP/Getty Images

© Brian Snyder/Reuters
Being financially equipped to retire feels like a fantasy. And yet plenty of people who could do so are avoiding it
“Retirement.” A word I can hardly spell anymore, it seems so abstract and impossible – like a science-fiction concept from a tattered old novel. In the classic film Blade Runner, “retirement” is the term used to describe the brutal ritual of future cops executing rogue androids called replicants (which auto-correct just tried to turn into “Republicans” against my will, though maybe Google Docs has a Freudian slip function now).
The Blade Runner version of retirement strikes me as more feasible for modern humans – getting blasted by a jackbooted assassin with a phallic-looking blaster – than the traditional process. Actual retirement – cocktails on the beach in between golf games – is as distant as the farthest known star. As glamorous as my life must seem to you, dear reader, it is not that at all. Like most creative types who never bothered to learn to code, I scrape by every month, white-knuckling until the next heaven-sent direct deposit.
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© Illustration: Fortunate Joaquin/The Guardian

© Illustration: Fortunate Joaquin/The Guardian

© Illustration: Fortunate Joaquin/The Guardian

© Todd Heisler/The New York Times
These dodgy operators are very good at the shady work they do: they crank up the terror, drown out the logical part of your brain and then move fast
For the second time in the space of three years, I was sitting on my bed screaming, “They’ve stolen all my money.” I feel sick about it. Foolish and ashamed. Within minutes, thousands of dollars were stolen from my accounts, and I won’t be getting it back because I “willingly” gave out my private information.
In 2023 I wrote an article after I fell victim to a Facebook scam and had $1,000 stolen from my bank account. I thought that experience made me immune from it ever happening again. It didn’t and I think I know why.
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© Photograph: Sevak Aramyan/Alamy

© Photograph: Sevak Aramyan/Alamy

© Photograph: Sevak Aramyan/Alamy
Bank of England expected to keep interest rates on hold as Iran war casts shadow over labour market
Unemployment in the UK unexpectedly fell in the three months to February, according to official figures – but the fallout from the conflict in the Middle East is expected to cause a rise in job cuts.
The Office for National Statistics (ONS) said the rate of unemployment was 4.9% in February, the lowest level since last summer. This compares with 5.2% in the three months to January, a rate that economists had expected to also see in February.
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© Photograph: Andy Rain/EPA

© Photograph: Andy Rain/EPA

© Photograph: Andy Rain/EPA

© Brad J. Vest for The New York Times

© Tamir Kalifa for The New York Times

© Tamir Kalifa for The New York Times

© Elizabeth Frantz for The New York Times

© Kenny Holston/The New York Times

© Vincent Alban/Reuters
Developing countries face possible shelving of crucial green action plan at IMF and World Bank spring meetings
Governments desperate for cash to protect their citizens from the growing impacts of the climate crisis are being put in a “beyond absurd” situation this week at global finance talks: they are being urged not to mention the climate, even as they address the current oil crisis.
The International Monetary Fund (IMF) and the World Bank Group (WBG) spring meetings take place this week amid a fragile ceasefire in Iran and upended geopolitics. One of the priorities was to forge a new “climate change action plan” (CCAP) for the world’s biggest provider of funds to developing countries, to replace the current strategy, which expires in June.
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© Photograph: Gent Shkullaku/ZUMA Press Wire/Shutterstock

© Photograph: Gent Shkullaku/ZUMA Press Wire/Shutterstock

© Photograph: Gent Shkullaku/ZUMA Press Wire/Shutterstock

© Jamie Kelter Davis for The New York Times
Exclusive: Former UN climate chief to co-chair Lancet Commission examining how sea-level rise is reshaping health, wellbeing and inequality
What are the health impacts of sea-level rise, and who should pay?
Christiana Figueres: Sea-level rise is a health crisis and we must hold polluters accountable
Countries are being “held hostage” by their reliance on fossil fuels, a former UN climate chief has warned, describing the health impacts of climate change as “the mother of all injustices”.
Christiana Figueres, an international climate negotiator who helped deliver the Paris agreement signed in 2016, made the comments as she was announced on Wednesday as co-chair of a Lancet Commission examining how sea-level rise is reshaping health, wellbeing and inequality.
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© Photograph: Mario Tama/Getty Images

© Photograph: Mario Tama/Getty Images

© Photograph: Mario Tama/Getty Images