Liberal Blogosphere

Wed, 29 Apr 2026 10:41:30 +0000

How the Iran war boosted profits at BP and Barclays

By Doloresz Katanich

Published on 28/04/2026 -

Barclays' profits rose, but loan losses weighed on its first-quarter results. At the same time, oil giant BP’s earnings jumped, largely driven by an exceptional oil trading boom linked to the Iran war.

British multinational oil and gas company BP’s first-quarter results were boosted by sharp swings in oil prices during the Iran war, which began on 28 February 2026

The company said that underlying replacement cost profit more than doubled to $3.2 billion (€2.7bn) in the first three months of 2026.

“Underlying RC profit for the quarter was $3.2 billion, compared with $1.5 billion for the previous quarter,” the company said in a statement, adding that “compared with the fourth quarter of 2025, the underlying result reflects an exceptional oil trading contribution and stronger midstream performance.”

BP's oil trading operation posted strong profits as energy market turmoil intensified during the Iran war.

Brent crude prices rose from just above $70 per barrel in early February to over $120 per barrel in late March, before settling at around $110 per barrel in April.

Oil production and operations remained steady compared with the previous quarter, with upstream production resilient at around 2.3 million barrels of oil equivalent per day.

The company also highlighted its exposure to the Middle East, with approximately 411,000 barrels of oil equivalent per day of upstream production in the region. This includes operations in Abu Dhabi, Oman and Iraq.

BP’s share price was up by more than 2% in afternoon trading in Europe.

Barclays earnings up as trading offsets loan losses

At the same time, British bank Barclays reported steady first-quarter growth, as trading volatility linked to the Iran war boosted income, though concerns over its loan portfolio weighed on sentiment.

Shares fell around 2% by early afternoon trading in Europe.

Total income rose 6% to £8.2bn (€9.5bn), while profit before tax increased to £2.8bn (€3.2bn), up from £2.7bn (€3.1bn) a year earlier.

However, its key profitability metric — return on tangible equity (RoTE) — slipped to 13.5%, from 14.0% last year.

Rising loan losses offset some of the strong performance. Barclays booked a £228m (€264m) charge linked to the collapse of UK mortgage lender Market Financial Solutions (MFS).

Chief executive C.S. Venkatakrishnan said the bank would scale back complex lending and reduce exposure to highly leveraged companies following the hit from MFS.

In a statement, he said growth was driven by broad-based performance across the business, highlighting the strength of the investment bank. Income there exceeded £4bn (€4.6bn) for the first time in a quarter, supported by strong trading and advisory activity.

Will Howlett, financial analyst at Quilter Cheviot, said the performance was driven by equities trading amid heightened volatility since the onset of the Iran war. He noted this led to growth of 16% year on year, or 23% in US dollar terms, alongside a 17% rise in investment banking fees.

Barclays also announced a £500m (€580m) share buyback, bringing total buybacks this year to £1.5bn (€1.74bn). The bank reiterated its financial targets, citing a strong and supportive capital position.

Russ Mould, investment director at AJ Bell, described the quarter as “another bumper performance” for Barclays’ investment bank, potentially marking its strongest quarterly profit this decade.

However, he added that investors are now assessing whether recent loan losses were isolated or point to weaker lending standards.

Iran war will trigger largest energy price surge since 2022, World Bank warns

By Quirino Mealha

Published on 28/04/2026 - EURONEWS

The World Bank’s latest Commodity Markets Outlook report predicts a 24% surge in energy prices this year as the Iran war delivers a historic shock to global supply chains.

The World Bank’s latest Commodity Markets Outlook, published on Tuesday, predicts a 24% surge in energy prices this year as the Iran war and the consequent blockade of the Strait of Hormuz deliver a historic shock to global markets.

This projected increase represents the most significant energy price spike since Russia's full-scale invasion of Ukraine in 2022, threatening to entrench high inflation and stall economic progress in developing nations.

According to the report, global commodity markets face their most volatile period in four years, with energy and fertiliser prices expected to lead a broad 16% rise in overall commodity costs during 2026.

The regional instability has already resulted in the largest oil supply disruption on record, with global production falling by over 10 million barrels per day during the crisis.

While some prices have moderated from their initial peaks, the study shows that the lingering effects of infrastructure attacks and shipping bottlenecks in the Strait of Hormuz will keep energy costs at elevated levels for the foreseeable future.

Analysts suggest that the current turmoil has effectively reversed the downward trend in commodity prices that had been observed throughout the previous year, creating an environment of stagflation and making it difficult for central banks to manage rates.

Ayhan Kose, the World Bank’s deputy chief economist, further stated that governments must resist the temptation of broad and untargeted fiscal support that could distort markets and instead focus on temporary aid for the most vulnerable households to navigate the coming months of economic uncertainty.

The sun rises behind a tanker anchored in the Strait of Hormuz off the coast of Qeshm Island, Iran, 18 April 2026

Wed, 29 Apr 2026 13:14:49 +0000

The Problem With Eternal Vigilance – OpEd

April 29, 2026
MISES
By George Ford Smith

“Politics in all its variants, particularly the politics of political parties, is the archenemy of freedom, prosperity, and peace. Yet wherever one looks, more government is invoked as the solution.”—Antony P. Mueller, “Is Anarcho-Capitalism Viable”

People are supposed to exercise eternal vigilance to keep themselves free. How does one exercise vigilance when the entity in question can pretty much do what it wants and can back its actions with superior force? How does one exercise vigilance when nature requires him to spend his time supporting his life and the lives of those he chooses to support? How does one exercise vigilance in defending freedom when most people today would rather be the subject of a state than be free?

It is a formidable task that has little in the way of a promising future.

Imagine how life is for people in Ukraine or Gaza or Iran—or anywhere else where bombs are falling or missiles striking. Borrowing from Hobbes, you might describe their lives as “solitary, poor, nasty, brutish, and short,” but you’d be immediately faced with another problem. Hobbes was describing what life would be like in the absence of a state. People suffering the consequences of war are suffering at the hands of states.

Is life one vast contradiction that can only be resolved at one’s death? Is that one of the appeals of religion, that it replaces suffering with peace and good will in the afterlife? Or is it possible people still on earth can find a way to live peacefully with one another without a state?

If it is possible then anyone looking to persuade others of this position will find resistance everywhere he turns. And not just from warmongers.

More moderate positions on the state’s necessity come from thinkers who self-identify as libertarians, who promote peace, prosperity, and freedom but also claim none of it is possible without a sovereign authority to establish and enforce laws. They argue for limited government—keep the state but limit its functions to those needed to protect the Declaration’s inalienable rights.

It’s intellectually easy to criticize the state as it exists today, rather than the idea of the state itself, here understood in Oppenheimer’s sense as a predator of the producing class. Taxation is theft, inflation is deceptive theft, conscription is kidnapping—each established libertarian positions, and all attributable to the state’s aim of increasing its power. Do away with these and others, such as a standing army, and we will arrive at a version of the state that satisfies libertarians because it’s the best we can hope for. Their axiom: We will always have states. Libertarians want them as small as possible.

But even this version is alien. States grow. It’s in their nature. Their purpose is to provide security. There are always more and better ways to secure. For the state, security comes at a cost of imposing restrictions on freedom. People can turn to private security firms but they operate under state permission. If the security sought is that provided by sound money, the whole industrialized world opposes it. Fiat money, best understood as legal counterfeiting, grows the state, not sound money.

How does a state get away with growing? Usually, in response to a crisis. What is government for if not to fix or alleviate it, as FDR allegedly accomplished with his New Deal? Isn’t that how security is understood? It will require government expansion but most people are led to believe it’s worth it. Besides, under a fiat monetary regime, such as most states have, the hit on its subjects’ net worth will be mostly hidden until much later, a result of the Cantillon effect, at which time there will be market actors to blame, not the government.

Instead of demanding a flat sum immediately such as a sales tax imposes, the state has an ingenious theft installment plan of which most people are unaware. The Federal Reserve’s Open Market Committee has as policy an innocent-sounding target of a 2 percent inflation rate, translated as a 2 percent hit on the purchasing power of the dollar that is achieved by creating money ex nihilo—out of nothing, like a child playing make believe, only these children are considered the best and the brightest so are obliged to do it in a very circuitous way by adjusting something called the federal funds rate. Fed monetary inflation is sometimes augmented with higher taxes on the rich that slides down to the middle and lower classeswho are mostly puzzled at this outcome. As for the benefit of state expansion, the combination of welfare and warfare has worked every time. At home it helps the “needy” often on the basis of their support for the current regime, abroad it devastates lives and destroys critical infrastructure to impose political ideals on people who don’t want them, always with the threat of blowback.

All this is how the state provides protection to ensure the freedom and well-being of its subjects. For this difficult task it claims a legal monopoly on the use of force. Monopoly defined:

A situation, by legal privilege or other agreement, in which solely one party (company, cartel etc.) exclusively provides a particular product or service, dominating that market and generally exerting powerful control over it.

The “particular product or service” a state allegedly provides is protection of your status as a human being. Did you vote to be under rule by a state? No. Did you vote for the particular constitutional state now in effect? No, your ancestors did. The Constitutional US replaced the Articles US by means of a quiet coup d’etat. Pro-Constitution delegates in 1787 argued that their purpose was “to render the federal constitution adequate to the exigencies of Government and the preservation of the Union [i.e., the State]” which they claimed justified ditching the Articles. In their view, an adequate government required a monopoly central state with the power to tax.

Americans have always inveighed against monopolies, usually without making a distinction between coercive and non-coercive monopolies. Problems emerge when coercive monopolies have the force of law behind them.

In the late 19th century, for example, voluntary cartel agreements couldn’t establish the market control big business wanted so they turned to the state, the mother of all coercive monopolies, to get the legal advantages they wanted.

Always, the legal establishment of monopolies that began with the creation of the federal government was done under the moral umbrella of the public interest. The Constitution’s preamble gives it away, that it was created by “We the People . . . to promote the general Welfare . . .” A person genuinely concerned with the general welfare of the country would not agree to assign that task to the state, the historical record of which is anything but a promoter of its subjects’ welfare.

The idea of eternal vigilance suggests the task of keeping the state in line, of keeping it from overstepping its boundaries. But ask yourself: what boundaries does a nuclear superpower have today? We would be far more effective in elaborating the raw essence of any state and its threat not just to our freedom but to our lives.

About the author:

George Ford Smith is a former mainframe and PC programmer and technology instructor, the author of eight books including a novel about a renegade Fed chairman (Flight of the Barbarous Relic) and a nonfiction book on how money became an instrument of theft (The Jolly Roger Dollar). He welcomes speaking engagements and can be reached at gfs543@icloud.com.

Source: This article was published by the Mises Institute

Wed, 29 Apr 2026 13:09:37 +0000

King Charles Defends U.S., NATO Alliance During Address To Congres

President Donald Trump and First Lady Melania Trump host King Charles III and Queen Camilla of the UK and Northern Ireland during a state visit, April 28, 2026. Photo Credit: White House, X

April 29, 2026

The Center Square
By Sarah Roderick-Fitch

(The Center Square) – In honor of the United States’ 250th birthday, King Charles III delivered a joint address in Congress Tuesday afternoon, highlighting the bond between the U.S. and the United Kingdom.

The king received a warm and enthusiastic welcome in a chamber often at odds with each other, while defending the NATO alliance.

The monarch’s speech was peppered with historical references and a bit of humor, bonding the two nations through their shared values and history.

The monarch began his speech by addressing Saturday’s shooting at the White House Correspondence Dinner, “with unshakable resolve, such acts of violence will never succeed.”

“Whatever our differences, whatever disagreements we may have, we stand united in our commitment to uphold democracy, to protect all our people from harm, and to salute the courage of those who daily risk their lives in the service of country,” the king said.

“Standing here today, it is hard not to feel the weight of history on my shoulder, because the modern relationship between our two nations and our own peoples spans not merely 250 years, but over four centuries,” he told Congress.

“As I look back across the centuries, Mr. Speaker, emerge certain patterns, certain self-evident truths from which we can learn and draw strength with a spirit of 1776, in our minds, we can perhaps agree that we do not always agree, at least in the first instance,” he continued.

“King George, as you know, never set foot in America, and please rest assured, I’m not here as a part of some cunning rear-guard action,” the king quipped, with the chamber erupting in laughter.

“Two hundred and fifty years ago, or as we say in the United Kingdom, just the other day, they declared independence by balancing contending forces and drawing strength in diversity. They united 13 disparate colonies to forge a nation on the revolutionary idea of life, liberty and the pursuit of happiness,” Charles said. “They carried with them and carried forward great inheritance of the British enlightenment, as well as the ideals which had an even deeper history in English, common law and the Magna Carta.”

King Charles underscored the importance of the two nations uniting in leading the rest of the world.

“It is my hope, my prayer, that in these turbulent times, working together and with our international partners, we can stem the beating of plowshares into swords,” the king said.

“The alliance that our two nations have built over the centuries, and for which we are profoundly grateful to the American people, is truly unique, and that alliance is part of what Henry Kissinger described as Kennedy’s soaring vision of an Atlantic partnership based on twin pillars, Europe and America.”

Charles pointed to the challenges in the world, highlighting the current threat in Europe as the war between Russia and Ukraine continues.

“It is an era that is in many ways more volatile and more dangerous than the world to which my late mother spoke in this chamber in 1991, the challenges we face are too great for any one nation to bear alone, but in this unpredictable environment, our alliance cannot rest on past achievements or assume that foundational principles simply endure. As my prime minister said last month, ours is an indispensable partnership. We must not disregard everything that has sustained us for the last 80 years. Instead, we must build on it, renewal,” said the monarch.

The king reminded the chamber of NATO’s response following the terrorist attacks of Sept. 11, 2001, in an attempt to defend the alliance following threats by President Donald Trump to pull out of it.

“This year, of course, also marks the 25th anniversary of 911, this atrocity was a defining moment for America, and your pain and shock were felt around the whole world….We stood with you then, and we stand with you now in solemn remembrance of a day that shall never be forgotten…In the immediate aftermath of 911 when NATO invoked Article Five for the first time, and the United Nations Security Council was united in the face of terror, we answered the call together, as our people have done so for more than a century, shoulder to shoulder through two world wars, the Cold War, Afghanistan and moments that have defined our shared security,” Charles said.

“Our common ideals were not only crucial for liberty and equality, they are also the foundation of our shared prosperity, the rule of law, the certainty of stable and accessible rules, an independent judiciary resolving disputes and delivering impartial justice, these speeches created the conditions for centuries of unmatched economic growth in our two countries,” he added.

The monarch also highlighted the two nations’ annual trade of $430 billon, arguing that it binds the two nations.

“The story of the United Kingdom and the United States is at its heart a story of reconciliation, renewal and remarkable partnership from the bitter divisions of 250 years ago, we forged a friendship that has grown into one of the most consequential alliances in human history. I pray with all my heart that our alliance will continue to defend our shared values with our partners in Europe and the commonwealth and across the world.”

The king ended his historic address reiterating a commitment the two leading nations have made over the last century to the safety and security of the free world.

“And so to the United States of America on your 250th birthday, let our two countries rededicate ourselves to each other in the selfless service of our peoples and of all the peoples of the world,” the king concluded.

The king’s speech marks the first time a monarch has addressed a joint session of Congress since 1991, when his mother, Queen Elizabeth II, delivered an address. This marks King Charles III’s first official trip to the U.S. since rising to the throne in 2022.

Wed, 29 Apr 2026 10:13:52 +0000

European Parliament calls to define rape as sex without consent

By Vincenzo Genovese

Published on 28/04/2026 - EURONEWS

A resolution adopted by the European Parliament calls for a common definition of rape across the EU, stating that any sexual act without consent should be considered rape.

The European Parliament on Tuesday approved a resolution calling for an EU-wide definition of rape based on the absence of freely given and informed consent.

It is now up to the European Commission to propose legislation, which would then need to be approved by EU member states, usually a political and difficult step.

The resolution urges that “only a clear, affirmative, freely given and unambiguous indication of consent is valid” in sexual relations. It adds that “silence, a lack of verbal or physical resistance or the absence of a ‘no’ cannot be interpreted as consent.”

Any sexual act outside this framework should be considered rape.

It also stresses that prior consent, past sexual relations, or any relationship with the perpetrator — including marriage — does not imply automatic consent.

This call reflects the “only yes means yes” principle adopted by Spain, approved in 2022 following a brutal gang rape.

Lack of consent is already a defining element of rape or sexual assault in 17 out of 27 member states, according to the European Parliament Research Service.

The definition backed by the European Parliament is also in line with the Istanbul Convention, which has been ratified by 22 EU countries.

However, legislation in several member states still relies on a force-based definition of rape, requiring victims to prove violence or threats. In Estonia, rape is defined as a violation of the victim’s will through force or threats, while Latvia refers to sexual violence committed under constraint, including force or other forms of pressure.

In Romania, the law focuses on the victim’s inability to express consent.

Meanwhile, legislation in Italy, Slovakia, Hungary and Bulgaria is vague, retaining elements of a force-based approach, according to an expert group set up by the Council of Europe.

Such definitions often require interpretation by courts in terms of what constitutes a violent assault, which is not always consistent. This can lead to a high burden of proof and, in some cases, secondary victimisation.

Supporters of the resolution argue that recent cases have exposed the limits of force-based definitions. Speaking to Euronews, Abir Al-Sahlani pointed to cases in France involving drugging and online abuse as evidence of evolving forms of sexual violence.

The resolution was adopted by a large majority, with 447 votes in favour, 160 against and 43 abstentions.

The definition of rape remains a key gap in EU legislation on violence against women, after it was excluded from a directive adopted in 2024 — a move that triggered criticism and protests.

The original proposal by the European Commission defined rape as sex without consent, but several member states opposed the provision.

Some, including France, argued that criminal law falls under national competence and should remain the responsibility of individual countries.

According to the European Union Agency for Fundamental Rights, around 5% of women in the EU have experienced rape since the age of 15.

Wed, 29 Apr 2026 10:07:38 +0000

Gaza’s transport grinds to a halt amid spare parts crisis

By Mohammed Nashbat with Euronews Arabic

Published on 28/04/2026 -

Severe restrictions on spare parts entering Gaza have paralysed transport, fuelled a black market and sent repair and travel costs soaring for residents, Euronews has learned.

Amid the limited flow of goods into Gaza, a near-total lack of spare parts imports has paralysed transport across the Strip.

As part of the ceasefire terms, at least 600 lorries a day should be permitted to enter Gaza.

Data from the Government Information Office in Gaza indicate that the actual number of lorries entering is less than half of that figure.

Of the more than 3,000 commercial and humanitarian lorries that have entered Gaza since the ceasefire began, only one has carried spare parts.

The shortage of spare parts has left many cars parked and many engines idle, local business owners say.

"The buses are parked and the cars are parked, we have no tyres, no batteries and no oil," Mahmoud Sami, owner of a bus company in the Maghazi area of central Gaza told Euronews.

Sami's buses once ran daily routes, but operations have largely stopped as costs have surged to unprecedented levels.

According to current prices, a single bus tyre can cost up to 20,000 shekels (€5,725), while a battery may cost 15,000 (€ 4,295) shekels or more.

Sami added that some drivers have resorted to swapping tyres between vehicles just to keep a few running, as purchasing new parts is no longer feasible.

Tyres at exorbitant prices

A comparison of conditions before and after 7 October 2023 shows a deterioration in the market, in both availability and pricing.

The problem is no longer just high costs, but the market has shifted from relative abundance before the war to a severe shortage.

Mohammed Emad, a mechanic from Nuseirat camp, said that the cost of car repairs, which used to range between 2,000 shekels (€575) and 2,500 shekels (€715), now exceeds 17,000 shekels (€4,865).

As for engine oil, the price per litre has risen from about 300 shekels (€85) to more than 1,000 shekels (€285), with sharp fluctuations due to the ongoing regional conflict

Desperation sets in

Economist Ahmed Abu Qamar said that the shortage of spare parts — or when they are allowed in, the lack of regulation — has enabled the black market to set prices.

These imbalances reflect directly on the citizens, he warned. Fares to travel between camps in central Gaza, for example, rose from one shekel to five.

For the parts that are permitted in, they do not meet 5% of market demand and often do not meet industry standards, Automotive Spare Parts Association Chairman Rushdi al-Khor said.

This reality has pushed many to seek out temporary solutions, such as using improvised components, old or second-hand auto parts, or used oil. Specialists warn that using old parts, especially braking systems and tyres, increases the likelihood of accidents.

Vehicles recycling motor oil

The shortage of spare parts and oil is not only impacting civilians and owners of commercial vehicles but also emergency response teams.

The spokesperson for the Civil Defence Authority in Gaza, Major Mahmoud Basal, warned that the agency's operational capacity has fallen to just 10%. He noted Gaza City had only three operational vehicles remaining.

In August 2025, the Civil Defence reported that 60% of its vehicles across the Strip had gone out of service due to shortages of fuel and spare parts.

The agency also revealed that teams had to resort to using used motor oil for their vehicles, despite it causing significant engine damage and shortening their operational lifespan.

The agency warned that if the situation deteriorates further, teams may have to reach incident sites on foot or rely on civilian vehicles.

With ongoing restrictions on the entry of goods and aid, the shortage of spare parts is expected to worsen, leaving residents dependent on increasingly limited transport options for daily life.

Economists have warned that if the situation persists, it could result in near-total paralysis of the transport and services sector, undermining people’s access to hospitals, essential services and workplaces.

Wed, 29 Apr 2026 10:06:53 +0000

Ukraine says it shot down 33,000 Russian drones in March, a new monthly record

By Gavin Blackburn

Published on 28/04/2026 - EURONEWS

Ukraine has developed cutting-edge and battle-tested drone technology that has proved essential in holding back Russia’s bigger army and has drawn military interest from around the world.

Ukrainian interceptor systems shot down more than 33,000 Russian drones in March, a record monthly figure since Moscow launched its full-scale invasion in 2022, Ukraine’s defence minister said.

Meanwhile, Ukraine’s domestically-developed long-range attack drones struck a Russian oil refinery and terminal on the Black Sea for the third time in less than two weeks, prompting the evacuation of local people as a precautionary measure.

Ukraine has developed cutting-edge and battle-tested drone technology that has proved essential in holding back Russia’s bigger army and has drawn military interest from around the world.

Interceptor drones as part of a comprehensive air defence system are now being sought by countries in the Middle East and Persian Gulf amid the Iran war, according to Ukrainian officials

Ukraine is scaling up supplies of interceptor drones to thwart Russian aerial attacks and its military has introduced a new command within the air force to boost the country’s capabilities, Defence Minister Mykhailo Fedorov said in a post on Telegram late Monday.

Ukraine's offensive capabilities have also improved, with the Defence Ministry saying on Tuesday that the country’s forces have more than doubled the range of their deep-strike capabilities since Russia's February 2022 invasion.

At that time, Ukrainian forces were able to hit military targets about 630 kilometres away, it said. They are now striking targets as far as roughly 1,750 kilometres behind enemy lines, the ministry said in a statement.

That improvement has allowed Ukraine to hit Russian oil installations that provide crucial revenue for Moscow's war effort. It has also targeted manufacturing plants that supply Russia’s armed forces.

Ukraine struck a Russian oil refinery at the Black Sea port of Tuapse for the third time this month in a coordinated operation involving multiple branches of the country’s defence and security services, Ukraine’s Unmanned Systems Forces said on Tuesday

The two strikes earlier this month destroyed 24 oil storage tanks and damaged four others, it said. Independent verification of the claims was not possible.

The Russian Defence Ministry said on Tuesday its air defences intercepted 186 Ukrainian drones overnight over Russian regions, the annexed Crimea and the Black and the Azov seas.

Europe may need Ukraine

With Russia posing a threat to all of Europe, the continent may need Ukraine more than Ukraine needs Europe, Finnish President Alexander Stubb said on Tuesday, noting Kyiv's large and increasingly modern military.

"Instead of us thinking that Ukraine needs Europe, perhaps we should think that we in Europe need Ukraine more," Stubb told reporters at a joint press conference with his Estonian counterpart Alar Karis.

"It is the largest, most efficient and most modern military in Europe."

Europe has ramped up its defensive capabilities in the face of the invasion and Moscow's "hybrid" attacks on European countries, including drone overflights, alleged sabotage and misinformation.

Both Stubb and Karis expressed support for Kyiv's desire to join both the European Union and NATO.

"We need to seriously start to think how much Europe actually needs Ukraine, whether it's EU membership or, as a matter of fact, NATO membership," Stubb said.

European leaders broadly back Ukraine's EU membership aspirations but there is little appetite to fast-track Kyiv to full membership, despite urgent appeals from President Volodymyr Zelenskyy.

Kyiv officially obtained EU candidate country status in December 2023.

Stubb meanwhile argued that the tide was turning in Ukraine's favour in the war with Russia.

"If you look at the past four months, Ukraine is actually doing much better than Russia," he said.

"We have seen the figures of both dead and wounded soldiers increase to 30,000 to 35,000 per month on the Russian side at a hit ratio of one Ukrainian to five Russians," Stubb added.

"On top of that, Ukraine now has the capability to launch more missiles and drones into Russia than vice versa. The pace at which Russia is advancing is

Wed, 29 Apr 2026 10:34:08 +0000

Why is ‘The Devil Wears Prada 2’ facing backlash and calls for boycott?

By David Mouriquand

Published on 27/04/2026 - EURONEWS

'The Devil Wears Prada 2' - out this week - is facing a boycott in Asia after a social media clip released before the film hits cinemas presents a character deemed to be an offensive stereotype.

The hotly anticipated sequel to 2006’s The Devil Wears Prada hits theatres this week, and a 38-second clip from the film has already sparked backlash online.

The extract shows “the former assistant’s new assistant” Jin Chao, played by Chinese-American actress Helen J Shen. She introduces herself to Anne Hathaway’s Andy Sachs, who is back at work at the fictional Runway magazine.

During their interaction, Chao displays the characteristics of social awkwardness, is eager to please, dressed in unflattering clothing, and proceeds to list her academic achievements...

“If you don’t want me, you can interview someone else, I don’t mind,” she tells Hathaway’s character. “I did go to Yale, 3.86 GPA, lead soprano of the Whiffenpoofs and my ACT score was 36 on the very first try.”

This clip has been viewed over 26 million times and has been blasted online for being guilty of caricaturing Asian behaviour and leaning on dated stereotypes, with accusations of “blatant anti-Asian racism”.

“Hollywood is so out of touch it’s embarrassing. It’s 2026 and THIS is your Asian rep? The name, styling, whole look. Lazy stereotypes,” wrote one X user, while another commented: “Child-like dress, glasses, overqualified, Ivy League credentials and at top of her game yet obsequious and insecure of her competency: these are not Asian American stereotypes, they’re white women’s fantasies.”

Other social media posts have also highlighted that the character’s name sounds like a racist slur.

One Japanese post, which has been viewed over a million times on X, states:

“The Devil Wears Prada 2

・Asian (Chinese)

・Name is Chinchon

・Glasses

・Nerdy bookworm

・Even if they graduated from a prestigious school, they’re uncool

Hits us with the most blatant racial stereotype racism in 2026 and it gives me chills. Did they use this scene in the promo because it’s “funny”? #BoycottTheDevilWearsPrada2″

On the Reddit forum r/asianamerican, one commenter said the name “is what a white person thinks a Chinese name should sound like”, before drawing comparisons to Cho Chang - the name of the Asian student at Hogwarts in the Harry Potter series.

Liberal Blogosphere

Barclays' profits rose, but loan losses weighed on its first-quarter results. At the same time, oil giant BP’s earnings jumped, largely driven by an exceptional oil trading boom linked to the Iran war.

Barclays earnings up as trading offsets loan losses

The World Bank’s latest Commodity Markets Outlook report predicts a 24% surge in energy prices this year as the Iran war delivers a historic shock to global supply chains.

Meryl Streep: ‘Would we have fashion without gay people?’

The award-winning actress, who has long been an LGBTQ+ ally, returns to her iconic role of Miranda Priestly in the upcoming 'The Devil Wears Prada 2'.

A resolution adopted by the European Parliament calls for a common definition of rape across the EU, stating that any sexual act without consent should be considered rape.

Severe restrictions on spare parts entering Gaza have paralysed transport, fuelled a black market and sent repair and travel costs soaring for residents, Euronews has learned.

Tyres at exorbitant prices

Desperation sets in

Vehicles recycling motor oil

Ukraine has developed cutting-edge and battle-tested drone technology that has proved essential in holding back Russia’s bigger army and has drawn military interest from around the world.

Europe may need Ukraine

'The Devil Wears Prada 2' - out this week - is facing a boycott in Asia after a social media clip released before the film hits cinemas presents a character deemed to be an offensive stereotype.

Famous Venice opera house Teatro La Fenice has fired the incoming music director Beatrice Venezi after months of protests and following “repeated and serious public statements that were offensive and harmful” to the theater.

IMF: Can advanced economies avoid debt distress?

A diplomatic crisis has erupted between Ukraine and Israel following the arrival in Haifa of a Russian vessel reportedly carrying stolen Ukrainian grain. Brussels says it is ready to sanction those involved.

In a continuation of the ongoing diplomatic uproar, Zelenskyy publicly criticised Israel on Tuesday for considering a purchase of Ukrainian grain stolen by Russia from temporarily occupied territories in southern Ukraine.

Earlier cases of stolen grain arriving in Israel reported

Public spat continues

Europe’s first complete lithium mine begins operating in Syväjärvi in western Finland. The strategic resource is critical for manufacturing modern electronics.

Reducing reliance on Asian and Australian imports

Locals divided on the project

Starmer denies allegations that his office applied pressure on the foreign ministry to approve Mandelson's appointment as Britain's ambassador in Washington despite having failed security vetting.

'Serious mistake'

AUSTERITY KILLS

Magyar promises austerity to get into Eurozone by 2030

Rift surfaces in BRICS over West Asia conflict

With Washington’s reliability shifting daily, Northeast Asia’s security order frays

UAE announces its withdrawal from OPEC

United Arab Emirates says it will leave OPEC in a blow to the oil cartel

Ukraine Destroys Sea Drone as Russia Strikes Odesa Ports and Cargo Ships

Europe paid for the weapons. America kept them.

How America bought Peru's air force over its president's head

The First Lady posted that “people like Kimmel shouldn’t have the opportunity to enter our homes each evening to spread hate", following a joke the talkshow host made three days before the shooting incident at the White House Correspondents’ Dinner. Now, her comments have backfired online...

Conspiracy theories abound after White House Correspondents' Dinner shooting

\US President Donald Trump is no stranger to theories alleging that attempts on his life are false flag operations.

Was the shooter given a signal?

Europe buys the most Russian LNG in history, just as first bans on imports come into effect

Finnish lift maker Kone nearly doubles its size in what the Finnish media described as the largest corporate acquisition ever carried out in Finland.

Can you see into the future? If not, maybe you're just too old...

What began as a set of playing cards evolved into tools of divination that continue to captivate modern generations, but our enduring fascination with tarot reveals more about the present than the future.

The First Lady posted that “people like Kimmel shouldn’t have the opportunity to enter our homes each evening to spread hate", following a joke the talkshow host made three days before the shooting incident at the White House Correspondents’ Dinner. Now, her comments have backfired online...

Conspiracy theories abound after White House Correspondents' Dinner shooting

\US President Donald Trump is no stranger to theories alleging that attempts on his life are false flag operations.

Was the shooter given a signal?

Online platforms are becoming the new political arena for Europe's youth. With their online engagement higher than in older groups, how do countries compare across the continent?

Privacy, political, and ethical concerns are pushing people to look for alternative social media platforms. What are the options? Are they the solution? Euronews Tech Talks tries to understand.

Open-source and decentralised social media

European social media: The experience of Monnett

Do we need more made-in-Europe social media?

One in ten children under the age of 13 is using Facebook or Instagram, EU regulators say.

How has Meta responded?

The age verification challenge

What happens next?

The whale was first spotted stuck on a sandbank on 23 March before freeing itself and then becoming stuck again several times.

Media frenzy

A super El Niño due this year and the world is not ready

The whale was first spotted stuck on a sandbank on 23 March before freeing itself and then becoming stuck again several times.

Media frenzy

A super El Niño due this year and the world is not ready

Qualcomm surges on report of OpenAI tie-up for AI smartphone processors

Journal

Harold the Jewellery Buyer and wife hit with $210K in fines over alleged Ontario mortgage ‘scheme’

‘Everything was done according to the law’

U.S. Supreme Court rules for Michigan in its fight to shut down an aging energy pipeline

The trial will see Elon Musk face off against OpenAI CEO Sam Altman over allegations that the AI company abandoned its nonprofit roots in favour of profit — with Microsoft also named in the suit.

What does Musk allege?

What does OpenAI say?

The US is the clear global leader of data centres, with more than double the EU total. Germany and the UK rank ahead of China. Euronews Next takes a closer look at the number of data centres and the factors driving investment.

US leads by a wide margin

Germany and UK ahead of China

EU’s total is less than half of the US

Distribution of data centres across Europe

Capacity matters