US inviting Arab and Israeli ministers to Nato summit, EY's CEO confirms no split, Thames Water faces financial collapse. FT explains immigration in UK elections.
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US invites Arab and Israeli ministers to foster cooperation at NATO summit, highlighting conflicting views on conflicts.
EY's decision to maintain unity and halt Project Everest reflects challenges in splitting sectors, hinting at future reevaluation.
Deep dives
US invites Israel and Arab states to NATO summit in Washington
The US has extended invitations to foreign ministers from Israel and other Arab states like Egypt, Jordan, and Qatar for the upcoming NATO summit. This move aims to address disagreements related to conflicts such as the Israel-Hamas war while showcasing the US's ability to foster cooperation. However, the situation is complicated as NATO member states hold diverse views on the conflict.
EY abandons Project Everest for splitting business
EY's decision to halt Project Everest, which involved separating its consulting and tax advisory sector, was reinforced by the inability to determine a viable split and gain universal support for the idea. The new global CEO, Janet Tranquale, introduced a strategy called 'all in', emphasizing organizational unity and rejecting the business split. The rationale behind Project Everest remains valid, hinting at potential future reconsideration.
UK faces water safety risks and migration concerns
Thames Water highlights risks posed by aging infrastructure to public safety and the environment, necessitating urgent upgrades that could lead to a significant increase in bills. Ahead of the UK election, migration emerges as a key issue with Prime Minister Rishi Sunak advocating for a deportations scheme and Labour Leader Kistama focusing on combating human traffickers. The public is skeptical about the implementation of these migration policies and the ability of political parties to curb migration effectively.
The US is inviting foreign ministers from Israel and Arab countries to the Nato summit next month, EY’s new global chief executive confirmed that the firm will not split in two, and Thames Water is on the brink of a financial collapse. Plus, the FT’s Lucy Fisher explains why immigration is an important issue in the UK elections.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. 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.