UK and Brazil meet for financial discussions / Embattled Toshiba announces Q1 results / Amnesty International blames European policies for migrant deaths

By Lucy Ingham

Good morning, here’s your Wednesday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.

UK and Brazil meet for financial discussions

The UK Chancellor of the Exchequer Phillip Hammond will today host the Brazilian Minister of Finance Eduardo Guardia for what is being framed as a “financial dialogue” by HM Treasury.

The subject of trade will likely be key to the dialogue, with both parties having their own financial issues to contend with.

Hammond will likely be continuing efforts to build relations with potential post-Brexit trading partners, particularly as the prospect of a no-deal Brexit remains.

Meanwhile, Guardia faces his own challenges, with a currently significant financial situation in Brazil.

The UK is currently a vital financial partner for Brazil, as the fourth largest investor in the country.

Embattled Toshiba announces Q1 results

Toshiba will announce its Q1 results today, which, it is hoped, will show a company on the road to recovery.

The technology giant narrowly avoided being delisted from the Tokyo Stock Exchange in 2017 after it reported having debts in excess of its assets. However, it has since had its stock’s position as Securities on Alert cancelled following improved management efforts.

It also has faced claims that it misled investors over a 2015 accounting scandal, and is currently subject to an ongoing US court case over the matter.

Toshiba has promised to regain the trust of stakeholders, but has so far struggled. This results announcement will be therefore vital to the future path of the company.

Amnesty International blames European policies for migrant deaths

Amnesty International is today publishing a briefing entitled Between the devil and the deep blue sea. Europe fails refugees and migrants in the Central Mediterranean.

The briefing argues that the number of people drowning in the Central Mediterranean or being returned to detention centres in Libya has dramatically increased as a direct result of European policies.

The policies adopted by European nations have been designed to stem the flow of people travelling across the Central Mediterranean to the continent.

However, Amnesty argues that while the numbers travelling have reduced, the death toll has risen significantly. The human rights organisation says there have been over 721 deaths in June and July 2018 alone.


Yesterday’s highlights

Cyberattack honeypot reveals methods of power grid hackers

Virgin Hyperloop One to build $500m test facility in Spain

Small satellites to generate $70bn revenue by 2030