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The Investigation Wise, the UK-based international money transfer service and darling of the London fintech scene, has confirmed it is answering questions from Belgian prosecutors investigating money laundering, sending its shares tumbling. Details of the Investigation In a statement to the stock market, Wise said it was “currently working with the Brussels prosecutor to respond to queries about our business, as we routinely do with regulators and law-enforcement authorities. “His office’s inquiries are still incomplete and no specific findings have been shared with us to date.” Market Impact Shares in the company plunged by more than 10% by early afternoon, as investors digested official confirmation of discussions with the Belgian prosecutor’s office. Background and Allegations The London-based firm, which has 19 million customers, processes 4.7m transactions a day and is valued at more than £8bn, issued the statement in response to a report by The Bureau of Investigative Journalism (TBIJ). The report claimed that Belgian authorities are investigating whether Wise accounts have been “used by criminals to launder the proceeds of fraud, corruption and drug trafficking”. Prosecutors in Belgium reportedly opened the investigation last year, on the basis that Wise accounts had featured in hundreds of requests for cross-border help in criminal proceedings from more than 30 countries across Europe. The transactions under investigation amounted to €500m (£433m). Wise's Response and Compliance “Like every financial institution, we face the reality of increasingly sophisticated bad actors attempting to exploit our platform, and we continually invest in tech-enabled systems and teams to stay ahead of ever-evolving threats,” Wise told investors. “We start by verifying customers before they open an account and continue monitoring hundreds of data points in real time as customers use our products, with teams reviewing transactions, offboarding customers when needed, and proactively reporting suspicious activity to law enforcement. “We take our responsibility incredibly seriously. Around one-third of Wise’s global team is dedicated to protecting our customers from financial crime and this focus is shared across all of our teams.”

The Lead The lawyer representing Meta whistleblower Sarah Wynn-Williams has revealed he too is prevented from promoting her memoir under a legal ruling, after her silent appearance at the Hay festival. The Legal Restriction Details Ravi Naik said the terms of an arbitration proceeding meant neither Wynn-Williams nor her "agents" could promote her bestselling book Careless People or say anything disparaging about the company. Naik spoke after Wynn-Williams was forced to sit in silence during an appearance at Hay on Sunday owing to the terms of the ruling. Naik said an interim arbitration ruling meant she risked being forced to pay "punitive" damages if he promoted the book. The Industry Impact Analysis "Never in my life have I faced a circumstance where my client cannot speak about her truth and I as a lawyer cannot speak on behalf of my client," Naik told BBC Radio's Today programme. Meta has claimed the book, which made a series of claims about the social media company's behavior and culture, is false and defamatory. It also contained allegations of sexual harassment that were denied by the company. Meta says Wynn-Williams was fired for "poor performance and toxic behavior". The Financial Consequences The Labour MP Louse Haigh claimed last year that Wynn-Williams was being "pushed to financial ruin" by Meta's legal stance. In testimony before a Senate judiciary subcommittee last year, Wynn-Williams alleged Meta worked "hand in glove" with China over censorship tools – something the company has denied. The Republican senator Josh Hawley claimed at the hearing that Wynn-Williams had been threatened with a fine of $50,000 (£37,000) every time she mentioned Facebook in public. The Future Outlook Meta had said in writing that they considered Wynn-Williams's attendance at the Hay talk would be a "breach" of the interim arbitration award, according to Naik, and they would seek sanctions if she promoted the book or criticised Meta in her appearance. Naik said Meta would probably seek to uphold the arbitration award, handed down in California, through the British courts. Meta declined to comment directly on Wynn-William's Hay appearance. It has previously described Careless People as a "mix of out-of-date and previously reported claims about the company and false accusations about our executives".

Kuwait’s Official Condemnation of the Iranian Attack On 1 June 2026, the Kuwaiti government issued a formal statement denouncing an attack carried out by Iran. The condemnation, released through the Ministry of Foreign Affairs, emphasized Kuwait’s commitment to regional stability and called for an immediate cessation of hostilities. Details of the Iranian Strike and Emerging Iran‑US Countermeasures The Iranian operation, described in regional reports as a targeted strike, marked a new escalation in the ongoing tension between Tehran and Washington. Simultaneously, sources indicated that the United States has responded with a series of strikes tied to unresolved trade disagreements, further complicating the security landscape. Economic Ripples: Trade and Investment Concerns While concrete figures have not yet been released, analysts note that any escalation between Iran and the United States typically reverberates through oil markets, shipping routes, and cross‑border investment flows in the Gulf. Early market reactions showed modest volatility in regional energy indices, reflecting investor caution. Regional and Global Implications of the Escalation The dual‑front tension raises several strategic questions for neighboring states. Kuwait’s condemnation signals a desire to distance itself from the conflict, yet the proximity of the strikes threatens trade corridors that are vital to Gulf economies. International observers warn that prolonged hostilities could draw in additional actors and disrupt global supply chains. Outlook: Potential Diplomatic and Market Trajectories Looking ahead, diplomatic channels are expected to intensify, with the United Nations and regional bodies likely to mediate. Market participants will monitor any de‑escalation signals closely, as a rapid resolution could stabilize oil prices, whereas a protracted standoff may sustain heightened volatility.

The Paradox of Diplomacy and DestructionUnited States President Donald Trump has publicly stated that he is close to achieving a 'very good deal' with Iran, yet Washington and Tehran are engaged in a dangerous cycle of military exchanges. This contradiction suggests that while diplomatic channels may be open, the military realities on the ground are actively working against a peaceful resolution.The Weekend's Escalation: Radar and Drone SitesThe latest round of hostilities began with a measured response from the US military. In a post on X, CENTCOM confirmed strikes on Iranian radar and drone sites in the city of Goruk and the island of Qeshm over the weekend. The attacks were a direct response to the shootdown of a US MQ-1 drone operating over international waters. US fighter aircraft swiftly eliminated Iranian air defenses, a ground control station, and two one-way attack drones that posed threats to shipping lanes.Tehran's Retaliatory StrikesIn response to Washington's aggression, the Islamic Revolutionary Guard Corps (IRGC) launched a multi-pronged counterattack. On Monday, the IRGC Aerospace Force targeted the airbase responsible for the attack on a telecommunications tower in southern Iran. While the specific location of the facility remains undisclosed, the IRGC claimed the predicted targets were destroyed.Kuwait: State news agency KUNA reported that air defenses intercepted missile and drone attacks on a major US base in the country.Northern Iraq: A senior official in the Iranian Kurdish party Komala accused the IRGC of striking the party's headquarters in Alana Valley, with the Kurdistan Freedom Party (PAK) also reporting a base hit near Erbil.Since the start of the war on February 28, Tehran has retaliated by striking US military bases in the Gulf, Israel, and Kurdish groups in northern Iraq, accumulating over 81 missiles and drones in these operations.The Strategic Value of the Strait of HormuzA critical factor in this stalemate is the strategic chokepoint of the Strait of Hormuz. Colin Clarke, executive director of the Soufan Center, argues that Iran's control over this waterway represents a more usable and powerful deterrent than nuclear weapons. With approximately 20 percent of the world's oil and liquefied natural gas transiting the strait, Iran's ability to close it with mines and shoulder-fired missiles gives Tehran a form of leverage that carries none of the risks of nuclear escalation.Erosion of Trust in NegotiationsDespite the diplomatic rhetoric, trust between the two nations has eroded significantly. Iran's chief negotiator, Mohammad Bagher Ghalibaf, stated that the country would not agree to a deal that does not secure full Iranian rights, citing a lack of trust in the US. Negar Mortazavi, a senior fellow at the Center for International Policy, described the situation as Iranian sources going to talks with their 'finger on the trigger,' expecting bombs to fall from the sky.Outlook: A Fragile Path to PeaceThe future of the ceasefire remains highly volatile. While Trump has toughened the terms of the proposed deal and sent them back to Tehran, Iran demands tangible results before fulfilling commitments. The recent exchange of fire serves as a stark reminder that the military option remains a constant threat, making the path to a durable agreement perilously narrow.

The LeadWhen Keir Starmer won a landslide Labour majority promising to pursue five governing "missions", the high-profile leftwing economist Mariana Mazzucato was credited as an inspiration. Two years on, her bracing new book helps shed light on why Labour in power has struggled to project the sense of direction that "mission-led government", as Mazzucato calls it, requires.A New Framework for Economic PolicySynthesising and extending her earlier work, here she proposes "a new economics of collective action around the common good". From this perspective, the economy is not a concatenation of rapacious independent forces, to be contained and offset by public policy, but a project – or rather a series of projects – with direction and purpose.The Five Principles of Common Good EconomicsThe "compass" in the title is really a set of five principles, all of which Mazzucato says such an economy should have: purpose and "directionality"; co-creation by citizens; collective learning; reward sharing; and accountability. Each of these principles is set out in detail. Co-creation implies grassroots participation in designing and redesigning government programmes, for example – because, "when people help define a problem and develop and implement solutions, they see them as theirs rather than something imposed on them".Reward Sharing and PredistributionReward sharing means ensuring the creators or rightful owners of economic value stand to benefit: from Indigenous people whose homes lie near raw material deposits, to social media users whose data fuels Big Tech's profits. That implies radical tax reform – including greater use of wealth taxes – and the robust use of conditions in public contracts, to make sure workers and taxpayers get their fair share: an approach she calls "predistribution".Critique of Labour's Economic ApproachAccording to Mazzucato's definition, Labour's attempt at mission-led government badly missed the mark. Its first and overriding goal – "kickstart economic growth" – cannot be a "mission" at all, because it lacks the necessary purpose. What, in other words, is that economic growth meant to be for? While her scope in this ambitious book is global, the analysis also dismantles Starmer's claim to be pursuing national "missions", by setting out just how radical – and radically different – that would look in practice.Practical Examples and Global Applications"The seeds of transformation are everywhere," she says, citing inspiring projects that range from delivering healthy and sustainable school meals in Sweden to the EU's mission to support cities to become climate-neutral, to the international Nagoya Protocol on sharing the benefits of genetic resources and traditional knowledge. Echoes of Mazzucato's mindset are detectable in some Labour policies – from using the threat of legislation to cajole pension funds to invest more in UK assets, to writing conditions on youth training into clean energy contracts.The Future of Economic DirectionEconomies work best, she believes, when they pursue grand collective goals – developing and distributing a vaccine for a pandemic; or confronting the climate emergency (or, though she doesn't lean on the example here, tooling up for a new and more frightening geopolitical era). We should ask, she says, "not which market failure do we want to be fixed, but what direction do we want the economy to sail in".

The Retaliatory Strike Iran's Islamic Revolutionary Guard Corps (IRGC) says it launched a retaliatory strike on a base used by US forces that it claims was used for an attack on an Iranian communications tower. The IRGC Aerospace Force fighters targeted the airbase where the aggression originated, and the predicted targets were destroyed. The Escalation The attacks come after the United States said it carried out strikes on Iran this weekend in response to 'aggressive Iranian actions that included the shootdown of a US MQ-1 drone that was operating over international waters.' US fighter aircraft swiftly responded by eliminating Iranian air defenses, a ground control station, and two one-way attack drones that posed clear threats to ships transiting regional waters. The Fragile Ceasefire The attacks, the latest in several exchanges of fire in recent days, come as indirect negotiations between the US and Iran to formalize a fragile ceasefire that took effect in April continue. There have been mixed signals about whether the two sides are close to an agreement to extend the fragile truce. The Potential Memorandum of Understanding The two sides have reportedly been reviewing a potential memorandum of understanding (MoU) that would extend the ceasefire for a further 60 days and begin negotiations to end the war permanently. The MoU will state that shipping through the Strait of Hormuz is to be 'unrestricted,' meaning there will be no tolls, no 'harassment,' and that Iran will have 30 days to remove all sea mines. Iran's Response Iran's Foreign Ministry spokesperson Esmaeil ‌Baghaei said on Monday that any delay ⁠in ⁠the diplomatic process to end the war can ⁠be explained by a lack of trust, ⁠Washington's contradictory positions and Israel's attacks on Lebanon. Negotiations have started amid severe suspicion and mistrust, and the exchange of messages is taking place in ⁠this atmosphere. Trump's Statement US President Donald Trump said in a statement on his Truth Social platform late on Sunday, Tehran 'really wants to make a deal' and that whatever deal is reached will 'be a good one' for the US 'and those that are with us.' He lashed out at domestic critics for 'negatively 'chirping'' about his handling of the war but made no mention of the US strikes on Iran.

How Norway’s Children’s Books Are Redefining TabooSwedish‑born author Anna Fiske and fellow illustrators are publishing picture books that openly discuss subjects traditionally considered off‑limits for young readers, from assisted reproduction to sexual abuse. The approach has earned them awards, strong sales, and, in some markets, fierce opposition.Anna Fiske’s ‘How Do You Make a Baby?’ Triggers International ControversyFiske’s 2019 title Hvordan Lager Man en Baby? (How Do You Make a Baby) illustrates IVF, insemination and the mechanics of intercourse. Distributed in English‑speaking territories by a New Zealand publisher, the book attracted death threats in Canada, was labeled pornographic in the US and banned from several school libraries, yet it also sparked vital conversations about sexual education.Sales Milestones and Awards Highlight Market Reception100,000+ copies sold of Fiske’s “How to” series in Norway.2025: Fiske receives the Honorary Brage award, one of Norway’s top literary honors.Norwegian festival of literature in Lillehammer showcases dozens of titles on exclusion, bullying, queer literature, climate, mental health and forced migration.State Support and Cultural Attitudes Fuel Literary FreedomNorway’s publishing model purchases a large stock of every new title for national libraries, insulating authors from pure market pressure. Government grants further enable writers to experiment without fearing commercial failure. Culturally, Scandinavian views treat children as autonomous individuals, encouraging open dialogue about risk and hardship.Global Publishers May Follow Norway’s ModelAs controversy in North America highlights the limits of censorship, the Norwegian example suggests a viable path for other markets: combine public funding with a cultural ethos that respects children’s capacity to engage with difficult topics. If other countries adopt similar policies, we could see a surge in globally distributed children’s literature that tackles previously taboo subjects.

The Concept of 'On the Edge'The garden, named 'On the Edge', is a celebration of the often-overlooked urban edgelands, those unprotected and modest places that exist on the fringes of towns and cities. Designed by Sarah Eberle, it marks the centenary of the Campaign to Protect Rural England and the launch of the first interactive map of England's countryside edges.The Design and FeaturesThe garden features a naturalistic design with a variety of plants, including herb robert, plantain, bramble, and nettle. A drystone wall is woven with dog roses and willow, representing the hair of Gaia, a giant sleeping figure carved from fallen redwoods. The garden also includes a concrete farm trough, which has been transformed into a beautiful and serene feature with leaf shadows moving over its surface.The Significance of the GardenThe garden's design and features are meant to evoke a sense of wildness and neglect, highlighting the beauty of these often-overlooked areas. The garden's creator, Sarah Eberle, aims to raise awareness about the importance of preserving these urban edgelands and the role they play in supporting local wildlife. The garden's success is evident in its gold and best in show awards at the Chelsea Flower Show.The Future of Urban EdgelandsThe 'On the Edge' garden serves as a reminder of the importance of preserving and protecting urban edgelands. As urban areas continue to grow and expand, these areas are often threatened with development, making it crucial to raise awareness about their value and significance. The garden's message is clear: these areas are not just neglected spaces, but vibrant and beautiful parts of our urban landscapes that deserve our attention and protection.

The Global Wildfire Paradox of 2025 Despite a global decline in the total area burned by wildfires in 2025, wealthier nations experienced some of the most destructive fire seasons on record, according to a comprehensive study examining the complex relationship between climate change, land use, and fire impacts. Uneven Distribution of Fire Devastation Catastrophic blazes claimed lives, homes, and jobs last year in California, Canada, Europe, and South Korea. The Scottish "megafire" torched more than 100,000 hectares, contributing to the UK breaking its record for burned area. Meanwhile, the Palisades and Eaton fires in Los Angeles ranked among the most destructive in US history, while record-breaking blazes in Spain and Portugal burned more than half a million hectares. South Korea experienced its biggest and deadliest wildfire season on record. The Declining Global Burn Area Despite these regional disasters, the 335 million hectares burned globally in 2025 represented the second-lowest total since 2002. This reduction is largely attributed to the expansion of African farms that have fragmented landscapes and hampered the spread of large savannah fires. The overall decrease in burned area led to a drop in carbon dioxide emissions to their third-lowest level on record. Economic and Human Cost Concentration While the total burn area decreased, the economic and human impacts became increasingly concentrated. Fires accounted for more than 38% of insured losses from weather disasters in 2025. In southern California and South Korea, high winds and dry vegetation pushed fires through densely populated areas, causing "exceptional mortality, mass evacuations, and major infrastructure losses." The toxic particles spewed by Canadian wildfires in 2023 killed 82,000 people worldwide, according to studies. Climate Amplification of Fire Risk Global heating is creating conditions that allow fires to spread more intensely, particularly at the wildland-urban interface where people are most at risk. Adverse weather, inflamed by carbon pollution, turned some of 2025's fires into explosive infernos. An attribution study found that the extreme weather fueling flames in Portugal and Spain was made 39 times more likely by climate breakdown. "If we continue to warm the planet, large-scale fires will continue to increase," warned David Garcia, an applied mathematician at the University of Alicante. Regional Disparities in Fire Impact The study reveals a growing disconnect between total area burned and real-world impacts. While global burn areas decreased, Canada experienced extreme wildfire emissions for the third year in a row. Since 2023, boreal forests in North America have emitted close to 4 billion tonnes of CO2, exceeding the total emissions of the preceding 15-year period. In the Mediterranean, drought and extreme heat drove severe blazes from Portugal to Turkey. Future Projections and Preparedness Experts warn that as the planet continues to warm, large-scale fires will become more frequent and intense. Adrián Regos, a landscape ecologist at the Biological Mission of Galicia, Spain, noted that last year's events illustrated how a relatively small number of extreme fires could dominate the ecological, social, and economic consequences of an entire fire season. This trend suggests that despite potential reductions in total burn area, the threat to human communities and infrastructure may continue to increase, necessitating improved preparedness and mitigation strategies.