Indian leather companies accused of enabling Russia’s war effort

Soldiers’ boots are made from imported Indian leather as country’s trade with Russia soars by 400%

Indian companies have been accused of enabling Russia’s war effort after exporting leather to Russian companies that make boots for its military in the months since the invasion of Ukraine.

Russia and India have longstanding ties and Narendra Modi’s government has not joined western countries in openly criticising Moscow over the war nor stopped Indian companies trading with Russia.

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UK house prices fall for fourth month in a row, the longest run since 2008

Annual growth rate cools in December and average price of property drops to £262,068, says Nationwide

Property prices in the UK fell for the fourth month in a row in December, the longest run of declines since 2008, according to Nationwide.

Annual house price growth also slowed sharply as the year drew to a close, to the lowest rate since mid-2020, with all regions of the country affected, according to the building society’s monthly survey.

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Inflation, waiting lists, strikes, rail chaos, climate emergency: the 2022 polycrisis

Almost every facet of life in the UK – courts to cost of living, transport to healthcare, environment to asylum system – is at breaking point

In mid-November Rishi Sunak was asked in a Channel 4 interview to name one public service that “was working, adequately, working properly”.

The prime minister didn’t give a direct answer. But the exchange feeds into an ever-more-common discourse: that the UK is facing “polycrisis” in almost every facet of life in Britain. From courts to the cost of living, transport to healthcare, environment to the asylum system – everywhere appears to be affected.

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‘A trend is starting’: France leading way in alcohol-free drinks boom

Rush of startups creating alcohol-free spirits, wines and beers is a departure in a country with a vast booze industry

When Nicole, a retired executive assistant, began preparing her new year get-togethers with family and friends, her first purchase was an artisan bottle of French alcohol-free gin.

“There’s something in the air right now,” the 71-year-old said. “Young people in their 20s and 30s drink so much less booze than we did. My generation was rock’n’roll, we drank a lot, smoked a lot. Times have changed. Young people are finding alternatives – and it’s benefiting us oldies too as we try to step back from bad habits.”

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Thai police screen ex-workers at former Tesco supplier over sweatshop claims

Interviews follow raid on VK Garment factory, the subject of a UK lawsuit against the supermarket from 130 ex-workers

Thai police and civil servants have begun screening more than 100 former workers at a factory that supplied Tesco to determine if they were victims of forced labour.

The Guardian revealed last week that Burmese workers who produced F&F jeans for Tesco in Thailand had reported being trapped in their work, enduring 99-hour weeks for illegally low pay in appalling conditions.

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European gas prices fall to pre-Ukraine war level

Milder winter, alternative imports and energy reduction cuts demand after Russian invasion pushed up prices

European gas prices have dipped to a level last seen before Russia launched its invasion of Ukraine in February, after warmer weather across the continent eased concerns over shortages.

The month-ahead European gas future contract dropped as low as €76.78 per megawatt hour on Wednesday, the lowest level in 10 months, before closing higher at €83.70, according to Refinitiv, a data company.

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ExxonMobil launches legal challenge to EU’s windfall tax on energy firms

US oil firm contests legal authority for ‘solidarity contribution’ to raise funds to offset soaring energy prices

ExxonMobil has launched a legal challenge against the EU in an attempt to derail the bloc’s windfall tax on the profits of energy producers.

In a high-stakes political battle as countries across Europe and the wider western world struggle with soaring energy costs and sky-high inflation, the US oil firm said it believed the EU had overreached its powers with the windfall tax.

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Civil service union warns of possible strikes by junior doctors and teachers

General secretary Mark Serwotka predicts ‘coordinated and synchronised’ action from January

The head of the largest civil servants union has warned ministers that “coordinated and synchronised” strike action across the economy will “significantly escalate” from January.

Mark Serwotka, the general secretary of the Public and Commercial Services Union (PCS), was speaking as his members employed in passport control for Border Force set up picket lines at Britain’s largest airports on Wednesday, in a four-day strike set to continue until New Year’s Eve.

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£1.1bn in fees, 3.1m hours, 14 years: the UK cost of winding up Lehman Brothers

PwC, administrator of Lehman’s London arm since bank’s failure in 2008, secures three more years to finish process

Administrators will spend at least three more years winding up the London-based arm of Lehman Brothers, swelling the almost £1.1bn in fees that PwC has already raked in since the bank’s calamitous collapse in 2008.

PwC has secured court approval to extend the administration process for the investment bank’s European hub to 2025, given the “complexity of unwinding the group’s affairs” after one of the biggest corporate failures in history.

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China’s move to ease Covid travel restrictions lifts hopes for global economy

Analysts says lifting of many rules may soften impact of higher interest rates and unblock supply chains in 2023

China’s decision to ease rules on travel in and out of the country, the world’s second-largest economy, has offered investors hope that it could soften the toll from higher interest rates on global stock markets and unblock supply chains amid a dark outlook for 2023.

Chinese authorities said late on Monday that inbound travellers would not have to quarantine on arrival, from 8 January onward. The announcement marked the latest in a series of steps to reopen the country, which is home to vital global supply chains and 1.4 billion people.

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Chuka Umunna advises Czech tycoon accused of Royal Mail plot

Ex-Labour MP and former critic of privatisation risks claims of hypocrisy over advisory role with Daniel Křetínský

The MP turned banker, Chuka Umunna, is advising a Czech tycoon who was accused of planning a secret takeover of Royal Mail by union leaders.

The former Labour MP is one of a team of bankers working on Daniel Křetínský’s British business interests, many of which are held within Vesa Equity Investment, including a 23% stake in Royal Mail’s parent company, International Distributions Services (IDS).

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UK rail system described as ‘broken’ as 2022 data reveals extent of disruption

Delays and cancellations linked to 20 years of privatisation, rising costs and labour shortages worsened by pandemic, say experts

Rail passengers have been delayed or disrupted on more than half of all train services departing from 15 of Great Britain’s busiest stations in the last year, Guardian analysis shows, exposing what has been described as a “broken” railway system that cannot easily be fixed.

Experts said the figures – which show rail services in the north and Midlands as the hardest hit – demonstrated the impact of two decades of privatisation, which had increased costs and public subsidies, combined with labour shortages exacerbated by the pandemic.

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Experts predict housing market will cool in 2023 as UK enters a recession

The slowdown is expected to intensify with price declines between 5% and 12%

The housing market will cool sharply next year after a bumpy 2022, industry experts are predicting, as the UK contends with recession and higher mortgage rates.

As the cost of living crisis has intensified amid soaring inflation and as interest rates have increased, house prices have already started falling month-on-month. The average house price dropped 2.3% in November from October – the most since the start of the financial crash in 2008 – according to Halifax.

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UK retailers face quieter Boxing Day amid cost of living crisis

An estimated £3.8bn will be spent on 26 December, down almost 4% on last year

Retailers are preparing for a quieter Boxing Day this year despite freedom from pandemic restrictions as the cost of living crisis weighs on shoppers’ budgets.

Spending is expected to hit almost £3.8bn on 26 December, according to research by GlobalData for Vouchercodes.

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Sales shoppers say Australia’s cost of living crisis drives search for Boxing Day bargains

Consumers are ‘freedom spending’ after an intense year, but on essentials rather than big-ticket items

With the cost of living crisis biting into budgets, Angela Jakovljebic decided to give her three daughters gift cards as presents, to spend on the post-Christmas sales.

Emily, Lilly and Mila weren’t too happy about their gifts when they received them, they say. But they felt better when they saw the sales in Parramatta.

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Australia’s tourism body wants to lift working holiday visa age limit to 50

Lifting age eligibility rules would help attract a wider range of skilled workers and professionals, Tourism and Transport Forum boss says

Australia’s peak tourism body wants the working holiday visa age cut-off to be lifted to provide a wider range of skilled workers and professionals.

The federal government is conducting a migration review to find ways of addressing worker shortages across Australia.

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Sky could lose £150m a year from plan to relax ad limits on UK’s free-to-air TV

Ofcom reviews longstanding rules that allow pay-TV companies more ad minutes than public service rivals

The pay-TV provider Sky could lose as much as £150m a year in TV advertising revenue from proposals aimed at enabling the UK’s biggest free-to-air broadcasters to make more money and better compete with streaming services.

The broadcasting regulator, Ofcom, is reviewing historical rules that restrict the UK’s public service broadcasters (PSBs) – ITV, Channel 4 and Channel 5 – from running as many minutes of advertising on their main channels as rivals such as Sky are allowed.

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Delays hit rail passengers rushing to beat Christmas Eve strike

Sympathy and irritation from public as thousands of RMT union members at Network Rail prepare to strike

Rail passengers were facing delays as they rushed to get the last trains before Christmas Eve services came to a halt, while Britain’s roads were braced for extra traffic as a result of the strikes on the railways.

People embarking on festive getaways or heading home for the holidays gathered on the concourses of major stations including London Euston and Birmingham New Street.

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Qantas sends rescue flight to Azerbaijan after stranded passengers left in the dark

Airline apologises to passengers and promises to get them to Heathrow airport ‘early on Christmas morning’

Qantas passengers stranded in Azerbaijan after an emergency landing are expected to make it to London by Christmas morning, after the airline deployed a recovery flight from Australia.

The recovery flight left Sydney at 11.40am on Saturday and was expected to pick up the stranded passengers from Baku airport and continue on to London arriving “early on Christmas morning”, according to a statement Qantas released on Saturday afternoon.

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Thai police raid former Tesco clothing supplier at centre of sweatshop claims

VK Garment factory in Mae Sot is subject of a UK lawsuit against the supermarket from 130 ex-workers

Thai police have raided a clothing factory previously used by Tesco that is the subject of a UK lawsuit over alleged sweatshop conditions.

The Guardian revealed earlier this week that Burmese workers who produced F&F jeans for Tesco in Thailand reported being trapped in, in effect, forced labour, working 99-hour weeks for illegally low pay in appalling conditions.

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