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The US and Ukraine have finalised a significant agreement to share profits from Ukraine's mineral and energy reserves, while Barclays will prohibit transgender women from using female bathrooms in its buildings following the recent UK Supreme Court ruling. Meanwhile, Microsoft has surpassed Wall Street predictions for a fourth quarter in a row and the Co-op has shut down parts of its IT systems due to a hacking attempt. Read on to find out more!

- The US and Ukraine have finalised a significant agreement, which states that Ukraine will share profits from the future sale of its mineral and energy reserves. Following months of negotiations, the mineral deal aims to provide economic incentives for the US to continue to invest in Ukraine's defence and reconstruction efforts. The vast reserves of critical minerals found in Ukraine, such as graphite, titanium and lithium, are highly sought after because of their use in renewable energy, military technology and infrastructure, and are expected to “unlock Ukraine's growth assets”. In addition, a key component of the agreement is the establishment of the US-Ukraine Reconstruction Investment Fund, designed to spur Ukraine's economic recovery from the ongoing conflict and recognise the "significant financial and material support" the US has given Ukraine since Russia invaded in February 2022. US President Donald Trump has consistently pushed for the agreement as a prerequisite for future security guarantees to Kyiv, making the deal crucial for Ukraine to secure continued US military aid. US Treasury Secretary Scott Bessent highlighted the agreement as commitment from both nations to lasting peace and prosperity in Ukraine.
- Barclays has stated that it’ll prohibit transgender women from using female bathrooms in its buildings following a recent UK Supreme Court ruling. In early April, the court declared that the terms ‘woman’ and ‘sex’ in the Equality Act refer exclusively to ‘biological women’ and ‘biological sex’. The CEO of Barclays, CS Venkatakrishnan, said: “Following the supreme court ruling […] we believe that we have to comply with that by not allowing trans women to use female bathrooms.” Barclays is among one of the first companies to adjust its bathroom policy post-ruling and has also recently scrapped gender and ethnicity targets for US staff, influenced by the Trump administration’s stance on diversity. Britain's first transgender judge, Victoria McCloud, plans to challenge the ruling at the European Court of Human Rights, citing infringement of her article 6 rights. The ruling, alongside the subsequent guidance from the Equality and Human Rights Commission (EHRC), has caused significant concern within the UK's transgender community and left many businesses and services feeling uncertain about the facilities they should provide. Co-leader of the Green party, Carla Denyer, repeated her call for EHRC’s interim guidance to be withdrawn “until it’s possible for guidance to be issued which provides real clarity and has taken into account the experiences of all those who will be affected by it”.
- Microsoft has surpassed earnings predictions for a fourth quarter in a row, amid a financial boom for AI businesses. The multinational technology giant released its quarterly earnings report on Wednesday, revealing a revenue of $70.07 billion and earnings of $3.46 per share. These figures exceeded Wall Street’s expectations of $68.42 billion in revenue and $3.22 per share, resulting in a more than 5% jump in shares during after-hours trading. Microsoft has invested billions in OpenAI in recent years and has committed to investing $80 billion in AI this fiscal year. The CEO of Microsoft, Satya Nadella, said: “Cloud and AI are the essential inputs for every business to expand output, reduce costs and accelerate growth.” Meanwhile, the president of the company, Brad Smith, likened AI to the “electricity of our age”. Microsoft has framed its AI investments as leading the charge in a transformative technology, which it asserts is vital for the future of American industry.
- The Co-op has shut down parts of its IT systems due to a hacking attempt, causing minor disruptions to its call centre and back office. This coincides with the Metropolitan Police’s investigation of a major cyberattack on Marks & Spencer (M&S), which has lasted for two weeks now and led to significant chaos and millions of pounds in financial losses. According to the BBC, experts believe the M&S attack is due to a malicious software called DragonForce, which locks users out of their systems and demands a ransom. It’s uncertain whether the Co-op discovered the hacking attempt on its system as a result of the cyberattack on M&S and whether the two incidents are connected. The Co-op's shops and funeral homes continue to operate normally, and the company is working to minimise disruption. A spokesperson from the Co-op said: “We are not asking our members or customers to do anything differently at this point.”

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