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@ISIDEWITH submitted…7hrs7H
Nicolai Tangen, chief executive of the $1.6tn fund, told the Financial Times it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in the past decade.“There’s a mindset issue in terms of acceptance of mistakes and risks. You go bust in America, you get another chance. In Europe, you’re dead,” he said, adding that there was also a difference in “the general level of ambition. We are not very ambitious. I should be careful about talking about work-life balance, but the Americans just work harder.”He added that in recent discussions with US chief executives, they had complained about the difficulty of doing business in Europe because of tough regulations and red tape.“I’m not saying it’s good but in America you have a lot of AI and no regulation, in Europe you have no AI and a lot of regulation. It’s interesting,” he added.
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The new aid packages will not enable Ukraine to seize the initiative and go back onto the offensive. One reason for this is that Russia has achieved air supremacy in many areas while ground based air defences will remain inadequate. Another is that a war-weary Ukraine simply doesn’t have enough troops and after more than two years hard fighting seems reluctant to launch the major mobilisation it needs.Russia has a rapidly growing wartime economy and has now built up huge force levels that it is willing to sacrifice to achieve Putin’s goals. If Moscow is able to achieve significant success in the summer, perhaps including taking Kharkiv, Ukraine’s second city, there will be no appetite for more Western spending come the winter. It looks like, as in previous wars, Russia will have begun badly but finished well through a level of determination so badly lacking among Ukraine’s allies in the West.
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China is providing moorage for a U.S.-sanctioned Russian cargo ship implicated in North Korean arms transfers to Russia, according to satellite images obtained by Reuters, as U.S. concerns grow over Beijing's support for Moscow's war in Ukraine.Britain's Royal United Services Institute (RUSI) think tank said the Russian vessel Angara, which since August 2023 has moved to Russian ports thousands of containers believed to contain North Korean munitions, has been anchored at a Chinese shipyard in eastern Zhejiang province since February.The ship's presence at the Chinese port underscores the challenges facing the United States and its allies as they try to choke off military and economic support for Russia.Satellite images RUSI obtained in recent months from companies including San Francisco-based Earth imaging firm Planet Labs PBC showed the Angara docked at Zhoushan Xinya Shipyard in Zhejiang, which on its website says it is China's largest private ship repair company.
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