UK plans to reduce immigration, Venezuela claims territory in Guyana, US funding for Ukraine running out, preview of new season of Hot Money podcast on European cocaine trade.
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Quick takeaways
UK government aims to reduce immigration by 300,000 people annually, raising minimum salary requirement for skilled worker visas.
Venezuela attempts to assert its claim over two-thirds of Guyana in a bid to distract its population and boost Maduro's popularity, fueled by the discovery of offshore oil reserves.
Deep dives
UK Government Plans to Cut Immigration by 300,000 People Annually
The UK government aims to reduce immigration by 300,000 people each year, making it harder for companies to hire foreign workers. The government plans to raise the minimum salary requirement for skilled worker visas to nearly £39,000 per year. This move comes as net migration reached a record high in 2022, putting pressure on Prime Minister Rishi Sunak ahead of next year's election.
Venezuela's Claim to Annex Two-Thirds of Guyana
Venezuela is attempting to assert its claim over nearly two-thirds of neighboring country Guyana. President Nicolas Maduro revived an old Venezuelan claim to the territory and claimed voter support in a recent referendum. This move is seen as an attempt by Maduro to distract Venezuelans and bolster his popularity ahead of the upcoming reelection. The territorial dispute between Venezuela and Guyana has been ongoing for over a century, with recent tensions fueled by the discovery of offshore oil reserves in Guyana.
The Return of FT's Hot Money Podcast: Season Two
The Financial Times' investigative podcast, Hot Money, returns for its second season, focusing on the rise of a European cocaine cartel. The series explores the emergence of powerful European crime groups involved in the multi-billion dollar cocaine industry. The stories include a meeting of the Dubai Super Cartel, which allegedly controlled a third of Europe's cocaine market, and the shocking revelation of encrypted communications facilitating ordered murders. The podcast sheds light on a lesser-known aspect of organized crime impacting Europe's business landscape.
The UK will make it harder for employers to hire overseas staff in an attempt to reduce record immigration by 300,000 a year, a Venezuelan referendum lays claim to two-thirds of neighbouring Guyana, and the White House says the US is set to run out of funds to aid Ukraine by the end of the year. Plus, we get a preview of the new Hot Money season, which dives into the European cocaine trade.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Edith Rousselot, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.