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NATO secretary general urges South Korea to allow direct arms exports to Ukraine | CNN

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NATO secretary general urges South Korea to allow direct arms exports to Ukraine | CNN


Seoul, South Korea
CNN
 — 

NATO Secretary Basic Jens Stoltenberg on Monday requested South Korea to rethink its rule on not exporting weapons to international locations in battle so it might assist arm Ukraine in repelling Russia’s invasion.

“I urge the Republic of Korea to proceed and to step up the particular challenge of navy help,” he stated in a query and reply session after a speech to the Chey Institute for Superior Research in Seoul.

“A number of NATO allies who had as a coverage by no means to export weapons to international locations in battle have modified that coverage now,” Stoltenberg stated, citing Germany, Norway and NATO applicant Sweden as these which have modified their arms export insurance policies to assist Ukraine.

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“After the brutal invasion of Ukraine, these international locations modified their coverage as a result of they realized that if you end up dealing with a brutal invasion the place an enormous energy – Russia – invades one other one in a blatant means as we now have seen in Ukraine, if we imagine in freedom, if we imagine in democracy, if we don’t need autocracy and tyranny to win, then they want weapons.

“When the full-fledged invasion occurred final yr, many international locations modified their coverage as a result of they realized that the one solution to rise up for democracy, to assist Ukraine prevail, and to create the situations for an enduring peace was to ship navy help.”

Navy support for Ukraine acquired an enormous enhance final week when Germany stated it will ship 14 of its Leopard 2 tanks to Kyiv, whereas additionally allowing different international locations that possess the Leopards, together with Norway, to provide them.

The Leopard 2 is a subsequent era tank that’s each agile and fast, regardless of being outfitted with superior protecting armor and long-range firepower. It’s thought-about among the many greatest on this planet and superior to something Russia has deployed in Ukraine.

Along with the Leopards, Ukraine is ready to obtain heavy armor from each the US, which is sending 31 M1 Abrams tanks, and the UK, which has pledged 14 Challenger tanks.

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Some consultants say the South Korean K2 Panther can be in that group of prime tanks and might be helpful for Ukraine.

However a South Korean presidential decree that enforces the nation’s Overseas Commerce Act says its exports can solely be used for “peaceable functions” and “shall not have an effect on worldwide peace, security upkeep, and nationwide safety.”

South Korea can be a signatory to the United Nations’ Arms Commerce Treaty, ratified in 2014 with the intention of holding shut management on who will get weapons and underneath what situations they can be utilized.

However that doesn’t imply South Korea’s arms business isn’t seeing a job in Ukraine’s conflict with Russia.

In December, a US protection official informed CNN that Washington intends to purchase 100,000 rounds of artillery ammunition from South Korean arms producers to offer to Ukraine.

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The rounds might be transferred to Ukraine by way of the US, permitting Seoul to stay to its public pledge that it will not ship deadly support to the war-torn nation.

And one of many greatest navy supporters of Ukraine – Poland – signed a serious weapons take care of South Korea final yr for a whole bunch of tanks and howizters and dozens of fighter jets.

The deal will allow Poland to interchange lots of the weapons that Warsaw has despatched to Kyiv.

Stoltenberg stated Monday that it’s crucial that democracies should stand with Ukraine for so long as it takes for Kyiv to win the conflict.

“As a result of if if [Russian] President [Vladimir] Putin wins, the message to him and different authoritarian leaders might be that they’ll get what they need with the usage of power,” he stated. “This might make the world extra harmful and us extra susceptible.”

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One Dead and Dozens Hurt in Roof Collapse at Illinois Theater

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One Dead and Dozens Hurt in Roof Collapse at Illinois Theater

Crypta, a Brazilian loss of life metallic band, had simply completed a set at an Illinois theater on Friday when the venue made an announcement: The present could be paused for a half-hour due to harmful climate raging exterior.

A couple of minutes later, the roof caved in.

“Initially, I used to be confused as a result of it felt like an earthquake, and I used to be pondering, ‘Why would there be an earthquake proper now?’” stated Chris Bryant, 39, an viewers member on the live performance who narrowly escaped damage on the Apollo Theater in Belvidere, Sick.

“As quickly as that occurred,” he added, “I watched as all the roof collapsed on everyone, mainly proper the place we had been standing.”

A minimum of one particular person was killed and at the least 28 others had been hospitalized after the “full roof collapse” on the Apollo, Shawn Schadle, the town’s hearth chief, stated on Friday night time, including that 5 folks had extreme accidents.

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It might have been a lot worse. Chief Schadle stated that there had been 260 folks contained in the constructing; that its entrance awning had additionally collapsed; and that emergency staff within the space had handled {an electrical} hearth behind the venue, a number of fuel leaks and an elevator rescue across the identical time.

“Many, many ambulances,” he informed reporters on the scene as flashing crimson lights from close by hearth vehicles bounced off his uniform. “Many, many responders.”

Chief Schadle stated that everybody on the venue had been accounted for and that emergency staff had been “wanting into the stabilization of the constructing.” The Apollo has hosted a spread of musical performances, together with vaudeville and mariachi, because the Nineteen Twenties.

The roof collapse in Belvidere, a metropolis of about 25,000 folks that sits lower than 90 miles from each Chicago and Milwaukee, was one in all a number of weather-related deadly episodes throughout the American South and Midwest on Friday.

A lethal storm system spawned ferocious tornadoes that killed at the least 9 folks in Arkansas, Indiana and Mississippi, and left at the least 30 folks injured within the metropolis of Little Rock, Ark., alone.

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As Friday ended, greater than 16 million folks from Texas to Michigan had been underneath twister watches. In Arkansas, Gov. Sarah Huckabee Sanders’s workplace stated that she was planning to survey the twister harm on Saturday.

Belvidere lies in an space that noticed sturdy wind gusts on Friday night time, and Illinois was one in all a number of states throughout the Midwest, Mid-Atlantic and Northeast the place residents had been underneath excessive wind warnings as daybreak approached on Saturday. But it surely was not instantly clear whether or not a twister or simply unhealthy climate typically had brought on the roof collapse. The Nationwide Climate Service stated solely that the Apollo had suffered “potential twister harm.”

Regardless of the trigger, the collapse was so surprising that it left some viewers members “standing round dazed, not understanding what to do,” stated Mr. Bryant, who works within the data know-how sector and lives in close by Algonquin, Sick.

“I stood there for in all probability 10 seconds earlier than I spotted there have been a bunch of individuals beneath the roof,” he stated.

Footage circulating on social media appeared to point out concertgoers looking for folks beneath the rubble contained in the venue. Mr. Bryant stated that he helped to extricate about 5 folks, and that later he informed firefighters which victims to prioritize.

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“A couple of minutes later, I noticed the man that I used to be standing subsequent to in the course of the live performance,” he added. “They’d a sheet over him.”

The gang had come to see Crypta and three different metallic bands: Revocation, Skeletal Stays and Morbid Angel. They’re touring throughout the nation this spring as a part of a tour known as “The USA of Terror.”

Not one of the musicians may very well be instantly reached for remark after the catastrophe, however Crypta stated on Instagram that each one of them had been protected.

Morbid Angel, the Florida-based headline act, stated in a Fb submit that its members had been nonetheless sheltering in place on the venue. “Proper now our focus is on ensuring everybody within the venue tonight is OK and will get house,” the band stated.

As for Mr. Bryant, he was nonetheless processing what had occurred.

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“The man I used to be standing subsequent to is useless, and I’m sitting at house, comfy on my sofa,” he stated by phone. “So it’s undoubtedly surreal.”

Emily Cochrane contributed reporting.

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UBS shortlists four consultants for Credit Suisse integration

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UBS shortlists four consultants for Credit Suisse integration

UBS has whittled down its shortlist to 4 administration consultants to advise on its integration of rival Credit score Suisse, in what is anticipated to be some of the profitable monetary companies advisory contracts lately.

Swiss financial institution UBS is ready to resolve whether or not to award the contract to Bain & Firm, Boston Consulting Group, McKinsey or Oliver Wyman within the coming days, in response to individuals concerned within the course of. Smaller contracts could possibly be awarded at later dates for extra specialist work, stated the identical individuals who warned UBS might resolve to reopen the method.

UBS executives invited bids from administration consultants within the days following its settlement to rescue Credit score Suisse in a historic $3.25bn deal that was orchestrated by Swiss authorities.

The duty of bringing collectively for the primary time two international systemically vital monetary establishments is anticipated to take a number of years and be fiendishly sophisticated.

The mixed group can have 120,000 employees globally, however tens of hundreds of job cuts are anticipated.

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This week, UBS chair Colm Kelleher changed chief govt Ralph Hamers together with his predecessor Sergio Ermotti in recognition of the size of the problem of constructing the transaction successful.

“That is the largest single monetary transaction since 2008,” Kelleher instructed reporters. “That brings with it vital execution threat.”

Ermotti, who formally begins on Wednesday, is anticipated to have a say on which advisor is chosen, although the combination course of is being led by chief info and digital officer Mike Dargan.

Claiming the contract will probably be a boon for the profitable bidder, at a time when banks are usually slicing again on their spending on exterior consultants.

Final yr, UBS focused decreasing its spending on exterior advisers as a part of a pre-takeover drive to chop $1bn of prices by the top of this yr.

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In recent times, UBS has employed McKinsey to assist Hamers develop his technique for the financial institution, which was unveiled final yr, and to implement an agile working technique, which is geared toward rushing up decision-making. Some senior bankers have expressed concern about UBS creating an over-reliance on the agency.

Equally, the financial institution used consultants from Oliver Wyman to advise on its threat administration operations and BCG for some smaller tasks, in response to individuals accustomed to inner workings.

Credit score Suisse had additionally been trying to cut back its use of exterior advisers, which included a plan to halve spending on consultants final yr. It diminished its exterior advisor headcount by a fifth within the ultimate quarter of 2022. It relied on recommendation from McKinsey for its two current restructuring plans — one below former chair António Horta-Osório and the opposite from final yr that geared toward radically reforming the enterprise.

As a part of the accompanying cost-cutting plans, Credit score Suisse sought recommendation from Oliver Wyman and BCG, whereas Deloitte supplied enter on the financial institution’s pay coverage, in response to individuals with data of their involvement.

UBS, Bain, BCG, McKinsey and Oliver Wyman declined to remark.

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Extra reporting by Michael O’Dwyer

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Bakeries are central to the French way of life. Now they’re fighting for survival

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Bakeries are central to the French way of life. Now they’re fighting for survival

Élodie Chavret places bread on cabinets early within the morning earlier than her bakery opens. She has managed L’Épi de Blé for 18 years and is now battling the rising value of its electrical energy payments.

In Millery, a small city in southeastern France, Élodie Chavret runs a bakery to make a residing for herself and her two daughters. The 39-year-old can also be a part-time firefighter however, she says, this isn’t the work that scares her.

Her worry? Not having the ability to pay the bakery’s electrical energy invoice on the finish of the month.

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The invoice skyrocketed from €900 ($978) in December to €7,500 ($8,146) in January as Chavret renewed her contract. With a authorities subsidy, her invoice would drop to €4,500 ($4,888) per thirty days. That’s nonetheless an “unmanageable” enhance, she mentioned.

The brand new price is “insufferable,” Chavret instructed CNN, and can all however obliterate her earnings, already squeezed by rising uncooked materials and gasoline prices, and better wages for her six workers.

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Chavret prepares bread earlier than placing it within the oven. The baker’s electrical energy payments have elevated to “insufferable” ranges regardless of her always switching off lights and preserving the heating off except severely chilly.

Bread bakes at Chavret’s bakery in Millery, a small city close to Lyon in southeastern France.

Chavret greets clients. France’s bakeries are the lifeblood of a lot of its cities and villages.

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In November, the United Nations Instructional Scientific and Cultural Group, or UNESCO, designated the French baguette as a part of “intangible cultural heritage,” owing to the particular data and strategies wanted to supply it, in addition to the central position it performs in French each day life.

However, regardless of their cherished standing, many bakeries are struggling — and a few are on the point of closure — as vitality costs and the prices of their components have spiked.

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“Every part has gone up,” mentioned Nicolas Amaté, who owns a bakery in jap France along with his spouse Nadège.

“If this continues, we’ll all shut,” he instructed CNN.


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Nicolas and Nadège Amaté work at their bakery in Lons-le-Saunier, a city in jap France. The price of their butter has doubled in two years, whereas flour costs have tripled through the previous 12 months.

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An individual walks by the streets of Lons-le-Saunier earlier than coming into the Amatés’ bakery. Nicolas Amaté mentioned his clients perceive the difficulties his bakery faces and why he has raised a few of his costs.

Worth shocks

French industrial producer costs — the costs suppliers of home-grown items and companies cost companies — rocketed 13% year-over-year in February, after a fair increased rise in January, in keeping with official information.

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Enter costs in French manufacturing, which covers bakeries, have additionally been rising, though inflation has slowed since hitting an 11-year excessive in April final yr, in keeping with PMI surveys compiled by S&P International.

Two years in the past, Amaté purchased butter for €6 ($6.52) a kilo. Now it prices €12 ($13). Flour costs have risen thrice in a single yr. Eggs, milk and cream are additionally far more costly.

However it’s inflation in vitality costs that’s been notably painful for a lot of companies because of the pace of value will increase when electrical energy contracts are renewed.

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Numerous breads are on show on the Amatés’ bakery. If enter prices hold rising for France’s bakeries, they “will all shut,” Nicolas Amaté instructed CNN.

Nicolas and certainly one of his workers put together chocolate croissants.

Nadège locations pastries in her bakery’s show case.

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Russia’s invasion of Ukraine despatched European pure gasoline costs zooming to file ranges final yr. Energy costs adopted.

Power costs had been additionally pushed increased in France by a shutdown of almost half of its nuclear energy crops in 2022 for upkeep work, which minimize off the supply of as much as 70% of the nation’s electrical energy provide.

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French energy costs have fallen again from the file excessive reached in August however are nonetheless almost thrice their common pre-invasion ranges for March, in keeping with information from the European Power Alternate.

And following a December spike in energy costs to €465 ($505) per megawatt hour, companies that needed to renew, or signal new, vitality contracts late final yr are smarting.

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A baker working at La Maillardise bakery in Levallois-Perret, close to Paris, takes bread out of the oven.

Authorities assist is on the market to bakers, however many say the measures fall in need of what’s wanted.

A “shock absorber” cost was launched on January 1 to cowl as much as 20% of the annual electrical energy prices of a bakery if it employs between 10 and 250 folks.

Bakeries with fewer than 10 workers can entry a “tariff protect” that limits the rise of their annual electrical energy invoice to fifteen%. A few of these smaller companies are additionally eligible for a mean €280 ($304) per megawatt hour cap on their annual electrical energy contract.

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Thierry Maillard, who owns a bakery northwest of Paris along with his spouse Catherine, factors out {that a} 20% discount from the “shock absorber” wouldn’t have been sufficient to cowl the five hundred% enhance in his electrical energy prices he was dealing with.

A poster exhibits the value of bread at La Maillardise. Proprietor Thierry Maillard has upped the value of his baguettes twice up to now yr.

Thierry Maillard stands in entrance of his bakery.

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Maillard is making an attempt to barter a contract with a special provider, although he nonetheless expects his electrical energy prices to nearly double.

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Frédéric Roy, a baker in Good, has taken extra drastic motion. In October, he co-founded a marketing campaign group for bakers on Fb, which now counts 2,100 members. They staged their first road protest in Paris in January, demanding will increase to the 20% invoice subsidy, and that the “tariff protect” cowl extra bakeries.

Elevating their very own costs is one other means for bakers to take care of spiralling prices and it is likely one of the steps really helpful by Dominique Anract, president of the Nationwide Confederation of French Bakeries, which represents the nation’s 33,000 artisanal bakeries.

“If [bakers] have adopted our steerage on vitality moderation, if they’ve elevated their costs, and so they use the [government] assist, bakeries are usually not threatened,” Anract mentioned.

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Chavret carries a bag of salt on her shoulder at her bakery in Millery. She is anxious that clients will desert small bakeries like hers for bigger shops that may afford to cost decrease costs for his or her merchandise.

However mountaineering costs is less complicated mentioned than completed, bakers instructed CNN.

Take Chavret’s bakery. Final yr, she offered baguettes for €1.05 ($1.14) apiece. Now she prices €1.20 ($1.30), a rise of 14%.

She must enhance the costs of a lot of her merchandise to make any revenue. The value of a traditional baguette would wish to roughly triple.

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“Let me let you know that French persons are not able to pay €3 a baguette,” Chavret mentioned.

Fellow baker Maillard makes the identical level. He has upped the value of his baguettes twice up to now yr from €1.10 ($1.19) to €1.30 ($1.41).

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Maillard seems to be at payments and paperwork in his workplace. His daughter, left, additionally works on the bakery. If bakeries shut, Maillard instructed CNN, will probably be the “loss of life of villages” as a result of they play such an vital position in civic life.

Thierry compares final yr’s vitality prices to a brand new value listing he acquired for January. Power payments can fluctuate significantly between bakeries in France relying on the date they’re contracted.

Sizzling croissants are taken out of the oven at La Maillardise. The bakery’s payments are anticipated to double when it strikes to a brand new provider.

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However the value rises have to date helped cowl solely the upper prices of uncooked supplies like eggs and butter, he mentioned, and elevating costs additional shouldn’t be possible as clients would balk.

As for conserving vitality, Chavret and her workers are always switching off lights and preserving the heating off except it’s bitterly chilly, however the bakery’s payments are nonetheless by far the very best they’ve ever been.

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‘Very vital scenario’

In latest months, hundreds of French bakers have joined on-line marketing campaign teams that push for extra authorities assist — comparable to that co-founded by Roy in Good — and a few have taken half in road protests.

It was the “very, very vital scenario” in vitality prices that prompted Roy to behave, he instructed CNN.


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Uncooked supplies comparable to eggs, seen right here within the Amatés’ bakery, have elevated in value.

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A baker at Chavret’s bakery pours a bag of flour to make dough. Flour costs have continued to rise.

“I’ve been within the enterprise for 35 years now. I’ve by no means had a scenario like this. I’ve by no means demonstrated in my life,” Roy mentioned.

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“Lots of my fellow bakers have needed to lay off workers as a result of they can not pay for every little thing,” he added, noting that some bakeries “have closed completely.”

Within the survival of their companies, there may be greater than bakers’ livelihoods that’s at stake.

France’s bakeries are the lifeblood of a lot of its cities and villages, serving as uncommon public areas the place neighbors recurrently cross paths. The incidental chit-chat that always comes with it retains folks linked, Chavret mentioned.

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Nicolas Amaté serves a consumer at his bakery.

“If the bakeries closed, we’d lose that human aspect, that aspect of communication, of mutual support,” she mentioned. “It’s not in department shops that folks take the time to speak.”

Maillard points a starker warning.

“In a village or a neighborhood, if the bakery disappears, the opposite companies round will disappear… [It would be] the loss of life of villages and sure districts,” he mentioned.

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“The bakery is the lifetime of the neighborhood, it’s the lifetime of the village.”


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A person walks by La Maillardise in Levallois-Perret.
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