Cryptocurrencies could lead to ‘limitless’ losses for UK government

Experts warn of danger of untraceable funds if companies accepting payments in cryptos go bust

The government could face “limitless” losses as a result of businesses that accept payments in untaxed and untraceable cryptocurrencies going bust, an insolvency expert has warned.

A growing number of companies, including the ethical cosmetics firm Lush and office-sharing firm WeWork, have begun taking payments for goods and services in cryptocurrencies such as bitcoin, alongside debt, credit or cash.

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Vatican reveals it owns more than 5,000 properties

Real estate holdings published for first time show it owns 4,051 properties in Italy, 1,120 abroad

The Vatican has released information on its real estate holdings for the first time, revealing it owns more than 5,000 properties, as part of its most detailed financial disclosures ever.

The information released on Saturday was contained in two documents – a consolidated financial statement for 2020 for the Holy See and the first ever public budget for the Administration of the Patrimony of the Apostolic See (Apsa).

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Hitting global climate target could create 8m energy jobs, study says

Researchers suggest net increase would mostly occur in renewables sector, with decline in fossil fuels

If some politicians are to be believed, taking sweeping action to meet the goals of the Paris climate agreement would be calamitous for energy sector jobs. But a study suggests that honouring the global climate target would, in fact, increase net jobs by about 8 million by 2050.

The study – in which researchers created a global dataset of the footprint of energy jobs in 50 countries including major fossil fuel-producing economies – found that currently an estimated 18 million people work in the energy industries, which is likely to increase to 26 million if climate targets are met.

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Chinese tycoon gets go-ahead to build vast central London ‘palace’

Westminster council unable to block Cheung Chung-kiu’s grand plans for Knightsbridge property despite ban on “Monopoly board-style” homes

A Chinese billionaire has been granted planning permission to construct an eight-storey, 5,760-sq metre (62,000-sq-ft) private palace overlooking Hyde Park, central London.

Westminster city council granted Cheung Chung-kiu, a Hong Kong-based property tycoon, permission to partly demolish and reconstruct 2-8A Rutland Gate, in Knightsbridge, in order to create his vast new home, which experts said could be worth up to £500m when completed.

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UK says it wants to substantially rewrite Northern Ireland Brexit protocol

Blueprint for alternative arrangement published as sources say protocol was flawed at conception

The UK has launched an audacious bid to rewrite a key plank of the Brexit deal, saying the Northern Ireland protocol was flawed at conception but served its purpose to get the UK out of the EU as “one country”.

The European Commission immediately ruled out a renegotiation of the deal, which was trumpeted by Boris Johnson as a solution to the Irish border impasse two years ago. The commission is understood to be open to some changes on the special arrangements for Northern Ireland, however.

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Israeli PM: Ben & Jerry’s sales ban will have ‘serious consequences’

Naftali Bennett hits back at Unilever after subsidiary stops selling ice-cream in occupied territories

The decision by Ben & Jerry’s to stop selling its ice-cream products in the Israeli-occupied West Bank and East Jerusalem has been met with fierce criticism from the Israeli political establishment, including a warning from the prime minister, Naftali Bennett, that the decision will have “serious consequences” for Ben & Jerry’s and its parent company, Unilever.

The announcement from the ice-cream maker, which has also taken political stances on the climate crisis and social justice issues such as Black Lives Matter, is one of the highest-profile rebukes of Israeli settlement building to date by a well-known brand.

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US father and son jailed in Tokyo for helping Carlos Ghosn flee Japan

US army special forces veteran Michael Taylor was sentenced to two years and his son Peter for one year and eight months

A Tokyo court has handed down the first sentences related to Carlos Ghosn’s arrest and escape from Japan, imprisoning US army special forces veteran Michael Taylor for two years and his son Peter for one year and eight months for helping the former Nissan chairman flee to Lebanon.

“This case enabled Ghosn, a defendant of serious crime, to escape overseas,” Hideo Nirei, the chief judge, said while explaining the judgment. “One year and a half has passed, but there is no prospect of the trial being held.”

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London basement extensions as normal as loft conversions, study finds

Most are built for middle-class professionals rather than oligarchs, with trend raising flood concerns

With their underground swimming pools, cinemas and art galleries, London’s luxury basement developments have long provoked envy and disgust as depositories for the hidden wealth of the super-rich.

But a study that has mapped all the 7,328 basements approved by 32 boroughs and the City of London between 2008 and 2019 has found that the majority of these developments were built for middle-class professionals rather than oligarchs, with the researchers saying they have become as normal as loft conversions.

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Comfort food and cleaning products: no wonder Unilever’s doing so well

The company’s wide portfolio has been perfectly suited to pandemic shopping. This week’s results will be strong again

A vast portfolio of food and household brands has allowed the consumer goods giant Unilever to navigate its way through the pandemic.

The maker of Domestos bleach, Dove soap and Cif cleaner benefited from a surge in demand for cleaning products in the initial stages of the health crisis. Its shares rose, and Unilever briefly became the most valuable company in the FTSE 100 index last year. And the company behind Marmite, Colman’s mustard and Magnum ice-cream benefited from the forced shift to eating out less and cooking at home, which some analysts think could be a long-term change.

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Victoria Covid-19 exposure sites: full list of Melbourne and regional Vic coronavirus hotspots and case location alerts

Here are the current coronavirus hotspots and Covid-19 public exposure sites in Victoria and Melbourne, and what to do if you’ve visited them

Authorities have released a list of public exposure sites in Melbourne and Victoria visited by a confirmed case of Covid-19.

Here are the current coronavirus hotspots, Covid exposure sites, venues and case location alerts and what to do if you’ve visited them

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Boohoo to sell its brands in Debenhams stores in Middle East

Online retailer strikes deal with Kuwait’s Alshaya Group to launch in franchise stores and online

The online fashion retailer Boohoo has struck a deal with Kuwait’s Alshaya Group to sell its brands in franchised Debenhams stores and online in the Middle East.

Alshaya, which already holds the franchise to operate Debenhams stores in the region, will have exclusive rights to operate its shops and websites in Kuwait, Saudi Arabia, United Arab Emirates, Bahrain, Egypt, Oman and Qatar.

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Covid Australia live updates: Morrison to announce NSW support package after 89 new cases and one death; three cases in Victoria

A man in his 70s from Sydney’s east has died of coronavirus; Queensland keeps border open for now; support package for NSW to include increased payments for people who have lost work. Follow the latest updates live

It’s a little late today, but pleased to keep up Matilda Boseley’s tradition of highlighting the bizarre graphic design choices of the Queensland premier’s social media team.

Today’s special announces 100 new Tafe scholarships. Someone has spent time etching the bloke’s arm in front of the graphic, for some reason.

100 TAFE scholarships valued at up to $5,000 are up for grabs.

The skills TAFE offers can change lives and set people up for stable and rewarding careers. pic.twitter.com/9TOHAsIbuz

Looks like we’re learning about that Covid relief package at 3.30pm.

Just enough time to take a breath, grab a coffee, watch a couple of episodes of he Office and settle in for the announcement.

Very glad @joshgnosis tweeted these together. pic.twitter.com/yCJ9AWus1o

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Plan to build world’s biggest renewable energy hub in Western Australia

A site in WA the size of greater Sydney has been chosen for the $100bn project to convert wind and solar power into green fuels

An international consortium wants to build what would be the world’s biggest renewable energy hub in Australia’s south-west to convert wind and solar power into green fuels like hydrogen.

The group of energy companies announced the proposal over a 15,000 sq km area that could have a 50 gigawatt capacity and cost $100bn.

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Richard Branson flies to edge of space in Virgin Galactic passenger rocket plane

Spaceplane went into sub-orbital flight days ahead of a rival launch by Jeff Bezos

The British entrepreneur Richard Branson has successfully flown to the edge of space and back in his Virgin Galactic passenger rocket plane, days ahead of a rival launch by Amazon founder Jeff Bezos, as the billionaires compete to kick off a new era of space tourism.

Seventeen years after Branson founded Virgin Galactic to develop commercial spacecraft and cater to future space tourists, the spaceplane went into sub-orbital flight on Sunday morning, reaching 55 miles (88km) above the Earth’s surface. The launch was slightly delayed until 10.40ET due to weather conditions at the Virgin Galactic’s operational base at Spaceport America in the New Mexico desert.

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UK food worker shortages push prices up and risk Christmas turkey supplies

Dearth of delivery drivers, abattoir staff and fruit pickers caused by Covid and Brexit are fuelling wage rises with 5% hike in prices forecast

Food prices could rise by about 5% by the autumn – and turkeys and pigs in blankets could be in short supply this Christmas – as shortages of delivery drivers, abattoir staff and other workers drive up pay and other costs.

Industry insiders say that pay for lorry drivers and other supply chain workers, including abbatoir workers, plus vegetable and fruit pickers and packers have all risen because of difficulties in finding sufficient staff.

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Freedom day? Boris Johnson faces a tough call as Covid cases soar

The prime minister seems intent on lifting England’s remaining Covid restrictions on 19 July. But many in the NHS fear it could be overwhelmed – and tourist hotspots are fearful too

With foreign holidays still in doubt and Cornwall filling up by the day, Jessica Webb has a unique perspective on “freedom day”. With her sister, Naomi, and her father, Spence, she helps run Falmouth Surf School and Watersports on Maenporth beach. Bookings for surf lessons are strong, and Jessica, 38, has started running yoga classes on paddleboards anchored in the cove to cope with excess demand.

She is also a part-time healthcare assistant in the A&E department at Cornwall’s only major hospital, in Treliske. “Even now, before the summer holidays have started, we don’t have enough staff in the hospital, people are waiting hours at A&E, the ambulances are all parked up outside,” she says. “There’s just so little capacity and so few beds – even for the people that live here all the time, let alone all the holidaymakers.

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G20 backs crackdown on multinationals’ use of tax havens

Finance chiefs endorse landmark move to prevent profits being shifted to low-tax countries

Finance chiefs of the G20 economies have endorsed a landmark move to stop multinationals shifting profits to tax havens and will also warn that Covid variants threaten the global economic recovery.

At talks on Saturday, they also acknowledged the need to ensure fair access to vaccines in poorer countries. But a draft communique to be rubber-stamped at the meeting in Venice did not contain specific proposals on how to achieve that.

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Data, not arms, the key driver in emerging US-China cold war | Robert Reich

Cybersecurity comes down to which side has access to more information about the other and can utilize it best

This week, shares in China’s giant ride-hailing app Didi crashed by more than 20%. A few days before, Didi had raised $4.4bn in a massive IPO in New York – the biggest initial public offering by a Chinese company since Alibaba’s debut in 2014.

The proximate cause of Didi’s crash was an announcement by China’s Cyberspace Administration that it suspected Didi of illegally collecting and using personal information. Pending an investigation, it had ordered Didi to stop registering new users and removed Didi’s app from China’s app stores.

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