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A
Craft matters in small ways, like how a coffee is brewed, and in not so small ways, like how your money is cared for. Which is why for 160 years, UBS has elevated banking to a craft, tailoring unique strategies that combine human expertise with the latest technologies, all happening across 24 time zones and and 12 key financial hubs. With you at the heart of it all, UBS advice is our craft.
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You're listening to the Globalist, first broadcast on 27 July 2026 on Monogore Radio. The Globalist in association with U. Live from London. This is the Globalist with me, Emma Nelson.
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C
And I'm Fionnualah Sweeney.
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B
Coming up, after two weeks of strikes against Iran, President Trump announces a pause, saying Iran seems serious about negotiations. But is he simply running out of missiles and regional support? Then again and again, President Putin has
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D
escalated and in response, Europe is increasing its pressure.
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C
More EU sanctions on Russia, but they're threatening to divide the bloc. And what have they achieved so far?
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B
We'll be in Madrid as Spain's government struggles to control the wildfires that threaten the capital. And we'll also have the latest from Paris as Emmanuel Macron calls an emergency cabinet meeting to deal with wildfires that threaten to engulf the city of Bordeaux.
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And staying in Paris, we'll be sharing the backstory of one lavish room in Paris that is finally reopening following a daring robbery at the Louvre.
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The gallery is once again the art, but the incident highlighted that perhaps the best anti theft measure is to not have anything on display at all.
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B
And we'll be looking through the papers, going through the latest cinema and television releases and discussing the joys of dining alone.
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Monocle's luxury markets editor Brenda Toohey will be here to tell us about the latest watches and jewellery in our upcoming quarterly lifestyle magazine Confect.
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That's all ahead on the Globalist, live from London.
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C
And a very busy news hour we have coming up, but lots of light weaving through the heavier news as well.
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B
I am, it's a funny thing because I've eaten on my own. We're going to be talking about dining on our own a little bit. I've eaten on my own an awful lot in the Gironde, which is where these terrible fires are coming from at the moment. I'm just, just looking and having friends sending messages from where it in from Arcachon and down the Cap Verret, which is where so many people have homes and holiday places. We all retreat there, just getting photographs again and again and again. What's happening over there is absolutely heartbreaking.
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C
And you're going to obviously be talking about this a little later on in the program, but let's first have a look at the headlines. Why not, indeed?
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B
At least two people have been killed in a shooting at a street food festival in the US City of Seattle. At least five people have been injured. The suspect in the Berlin Pride attack has been shot dead by police. And Brazil has recalled its ambassador to Buenos Aires. Diaries after Argentina's president insulted Brazilian government officials and called President Lula a thief and a convict while on a visit to the country. Stay tuned to Monocle Radio throughout the day for more on these stories. But first, are we witnessing a cooling of aggression between the US And Iran? And if so, why? Over the weekend, it was reported that the US Will not escalate military attacks on Iran. For the moment, it's understood Donald Trump has made the decision after being warned about falling stocks of Patriot defense missiles with the additional risk of alienating America's allies in the Gulf. Joining us now is in Zaman Rashid, Monocle's Gulf correspondent. He joins us on the line from Fujairah in the UAE looking across the Strait of Hormuz. Good morning, Indzi.
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F
Morning, Emma.
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B
So the view from where you are?
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F
Yeah, well, look, there are around a dozen or so vessels currently anchored down, I'd say probably around 3km or so ahead of me, many of them oil tankers waiting to pass through the Strait of Hormuz. And this has been the picture for the last five months, really, of this whole conflict between the US And Iran because Iran still has de facto control over this waterway in front of me. They target any vessels that do not comply with their regulated routes, their designated routes that they've put in place. And we've seen that right throughout the conflict. But interestingly, Emma, is I've noticed that over the last few days, shipping movements have really slowed down in this waterway. In fact, for the first time in two months, we've seen the lowest levels of traffic through the Strait of Hormuz, which I think just gives you a signal. Yes. Whilst fighting may be on a bit of a pause right now, clearly the Strait of Hormuz is still a huge issue and it's very central to this conflict.
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B
Give us an idea, though, of where we are, because what we've had in the in the last couple of days is Donald Trump's team saying we need to give diplomacy a chance to succeed, whereas counter lines are suggesting that America is simply running out of Patriot missiles to continue the job Look, I don't
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F
think there's any clear reason as to why the US has paused its attacks on Iran. Remember, there were 13 consecutive nights of US strikes on Iranian coastal areas and military sites. And President Trump last week said that he was going to carry out this massive attack on Iran. Now the New York Times reported that he put that decision to one side after concerns that increasing aggression will dangerously drain the Pentagon's diminished stockpile of Patriot anti missile interceptors. So yes, a huge concern that whether the US Even has the stockpile to carry out strikes, but also to defend itself and the Gulf states from strikes too. And there was also some reporting that a top U.S. military commander in the Middle east recommended stopping the bombing campaign around the Strait of Hormuz because it had reached the limit of its effects effectiveness, meaning that quite frankly, there's not much else to target. And there is one other point and you just mentioned it. This was the US Ambassador to UN Mike Waltz over the weekend said that President Trump paused the attacks to allow more room for diplomacy. Now look, from the conversations that I've had with my sources in Qatar, in Pakistan, the mediator countries and in Iran, it seems that the US Or Iran are not really in much of a mood to sit down around the negotiation table and to get back to some form of peace in this conflict. That happening anytime soon, one source told me, is pretty slim.
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C
Indzi, this is Fnillah Sweeney here just jumping in. When you hear the mediators have that kind of sense that the talks aren't going to go anywhere if there are to be any talks held, what is the reaction of people and business people in the region? Are they getting used to this five month long confrontation? Is it business as usual? What's the sense there?
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Yeah, Fionola, look, I think we've had so many ups and downs throughout this whole conflict where yes, there's a bit of hope the memorandum of understanding will signed that brought back a bit of kind of stability, a bit of prosperity for the region. And then all of a sudden flighting flared up once again. And then you see the two sides having discussions and we're reporting that there are notes being passed through from the mediators and okay, there's a bit of stability again. And then we see Iran attacking ships in the Strait of Hormuz. I think what the region is so used to is that this war has been so up and down and at one point you've got peace taking priority over war and then you can go a day later and war is prioritized over Peace. And so I think, yes, the region is very much used to it, but they don't want to get used to this up and down. They want stability, particularly the Gulf states like the uae, like Qatar, Saudi Arabia, who so heavily rely on their oil economy. But also in the uae, the touristic economy, which has been completely destructed as a result of, of this war. I think they just want that element of stability. And right now that is not happening.
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B
Can the pause, though, introduce any sense of stability? Because one of the other reasons given for the pause in hostilities was the fact that America was quite worried that it was losing friends in the Gulf.
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F
Yeah. And I think that that could still potentially be the case here because while as long as this war continues, you will have the Gulf states, Emma, that will just keep getting frustrated with America because not only did they start this war, but it's taken them so long to get out of it as well. Remember, this was just meant to be a four week war. According to the President. He was going to go in, change the whole regime inside of Iran. He was going to expect the Iranian people to have a bit of a protest and an uprising and then everything would be absolutely fine. But this is an Iranian regime right now that is defiant, that is clearly got an upper hand when it comes to the Strait of Hormuz in front of me. They know that this is the Achilles heel of the president. And so anytime that it comes to some form of frustration on their side, all they need to do is relay a message saying that they've closed the Strait of Hormuz or that they're threatening to target vessels. And all of a sudden you see the world's economy struggle as a result. So look, this is this few days of peace that we've got right now. Like I said, there are a load of different options. It could also be recalibration actually for President Trump's massive attack. And you've got 50,000 US troops here in the region. They may just be kind of getting their ducks in a row to increase the aggression. That's also another option that I'm hearing from analysts. But there is just huge question marks over where we go from here, not only militarily, but also when it comes to diplomacy.
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Let's touch briefly on what's happening in regards to, to the Iranians, the Houthis and Saudi Arabia. We have the Houthi forces in Yemen have been firing missiles at two of Saudi Arabia's oil facilities on the Red Sea. This is not going to help things.
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F
No. And this is another element where the war is widening and also remains a huge concern because, look, we know that Iran has sent weapons directly to the Houthis in recent months. And as a result, those weapons are being used to carry out blockades in the Bab El Mandeb Strait in the Red Sea. Specifically, the Houthis say that they are targeting Saudi Arabian vessels or any vessels linked with the US And Israel. And we know, Emma, that two thirds of the world's oil usually comes out of Saudi Arabia. And so it is a very important choke point of oil coming through. So when effectively you've got Iran controlling not just the Straits of Hormuz, but also now the Bab El Mandeb Strait, by using the Houthis, they're effectively controlling global energy supplies. And that is, of course, a huge concern. Just one other point I do want to make, Emma, and this is where potentially the war could even widen further. And it's a worrying escalation. We saw yesterday that there was an attack in the Caspian Sea. This was by Ukrainian forces, apparently on an Iranian vessel, where the Iranian foreign minister said that Zelensky has attacked an Iranian commercial vessel, killing a sailor, a blatant UN Charter violation done at Israel's behest to drag Europe into its war. He also said that this cannot go unanswered. Now, if Iran does retaliate, and that's the big question, technically it's possible because Tehran and Kyiv is less than 2,000 kilometers, and so it's within range of Iranian missiles and drones. That would risk merging two separate wars into one.
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B
Just very briefly on that, the reason why the Ukrainians targeted the Iranian vessel is what is it? Because Iran and Russia do so much oil trading.
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F
Well, this is part of the problem, right? Iran and Russia on one side. We know that Ukraine, the Gulf states have, of course, had a very strong relationship on another side. And just remember this week as well, President Zelensky and Prime Minister Netanyahu are both supposed to meet with President Trump. So there is no doubt that this small escalation, but potentially could be absolutely huge, will be discussed in the coming
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days in Zaman Rashid, our Gulf correspondent, joining us on the line from Fujairah on the UAE looking across the Strait of Hormuz. Thank you so much for joining us on the Globalist.
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C
Last week, the European Union agreed to a new package of sanctions against Russia. The 21st sanctions since the war with Ukraine began in 2022. They include a full asset freeze on 94 Russian financial institutions, while 33 banks have been Disconnected from the swift international payment system, Greece held up the sanctions, demanding a waiver in order to allow a shipping tycoon to still trade with Russia. The EU is now examining how best to circumvent the veto system. Lots to talk about. And here to discuss this further is Charles Hecker, political risk and Russia analyst. First of all, let's talk about the sanctions, Charles. Like what are they designed to do specifically this time?
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Well, the sanctions, since their very inception, have been designed to damage Russia's ability to finance and prosecute this war on Ukraine. And what they're doing is they are trying. The European Union and all of the sanctioning entities in the G7 are trying to clamp the down on anything that generates revenue for the Russian government, because that revenue is then funneled more or less directly these days into the funding of the war.
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C
I mean, one would think that being cut off from the swift international trading system, you know, is going to cause a maximum amount of damage to the Russian bank's ability to operate internationally. How damaged or otherwise is the Russian banking system generally?
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Well, this was a fairly large package of sanctions and it's being reported as one of the largest package of sanctions since the beginning of the war. And certainly in the past couple of years, the Russian banking sector, like most of the Russian economy, is under crushing pressure. Russian banks not only have been cut off from their international colleagues and the entire international system of transferring funds, which is a lifeline for any bank, but Russian banks now are being forced essentially to lend money to the government. And most Russian banks now are finding real problems on their balance sheets with loans that cannot and maybe will not ever be repaid.
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C
So what can Russia do to try and circumvent these crushing sanctions? As we mentioned earlier, the 21st round of sanctions from the EU since the war began in 2022. How is the war being funded?
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Well, first of all, Russia is an absolute expert at sanctions workarounds. And I think that this comes actually from the Soviet tradition of sort of working around the communist economic planning system of five year plans, you know, that was full of workarounds and exemptions and shortcuts. And I think that that sort of genetic, that DNA level experience of working around things has served the Russian Federation extremely well. Russia has found ways to work around almost any sanction that you can imagine being slapped on it, whether it's the use of technology or banking. One of the things, for example, that the 21st package does is it cracks down quite hard. Russia's use of crypto and crypto was one of the ways that Russia and Russian banks had been working around its inability to move money around the world. So we're hoping to sort of shut that down with the crackdown on Crypto
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in the 21st package and China seemingly coming out in support of Moscow by banning the export of what are called dual use items. These are items that can be used for civilian but also potentially for military goods. And they've been banned basically to 14 additional European Union entities.
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That's right. Very interesting move from China here, sort of saying we don't like what you're doing to Russia, so we're going to do something to you European countries. China is kind of walking both sides of the sheet on this because China is certainly supporting Russia and is a major source of dual use technology itself. China is also exporting technology to Ukraine. So a little bit of, you know, sort of push me pull you from China on this.
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B
Fionola mentioned at the beginning of this that that Greece seemed to be the sticking point with this, that they want a waiver to, excuse me, to allow a shipping tycoon to still trade with Russia. How much is this still the European Union's problem that it can't sort itself out when it comes to how to deal with its incredibly problematic neighbor?
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Well, you're absolutely right. I mean, this was a big sanctions package. It's sort of two big steps forward and one very big step back because of how many exemptions were written into this package. So Greece, according to a report a couple of weeks ago in the Financial Times, has made close to $4 billion shipping Russian energy around the world. So Greece will do anything and everything it can to exempt itself from any sort of crackdown on Russia's shadow fleet. This is the fleet of tankers that is shipping Russian energy around the world, Russian crude around the in, you know, in a sanctions workaround as we were just discussing with Fionnuala and there have been carve outs now to allow the import of Russian fish. This was, I think from Portugal there was a carve out for travel visas by France, Spain and Italy. You know, we kind of thought that this was all over when Victor was Orban left government in Hungary because of course Hungary was the largest and the sort of most famous holdout on every sanctions package because Orban was so closely linked to Russia. And everyone assumed that once Orban was out of power that these sanctions packages would relatively sail through. And that's turned out to be an incorrect assumption.
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C
And meanwhile, the war continues. Of course, the last peace talks hosted by the US I think were in February. Is there any prospect of those getting underway again? Moscow signaled it would be willing for the US to intervene again.
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Yeah, Moscow's been saying that for a very long time and nothing's really ever come of it. I think that we can almost entirely rule out American participation in any sort of peace talks in the immediate future. The United States is consumed with the war in Iran. United States diplomatic capacity is shallow in recent years to begin with and is sort of maxed out on the Middle east at the moment. You know, Russia's been sort of making noises about going back to what they used to call the spirit of Anchorage, which was some sort of mythical agreement that was supposedly reached in Anchorage that was never enacted. Nobody really understands what the Russians mean when they say we need to go back to the Spirit of Anchorage. Nothing happened in Anchorage and the United States isn't doing anything to renew the Anchorage process at all.
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C
Just one final question, back to the sanctions themselves again. We're going to repeat 21st package of sanctions. One would think that the Russian banking system under huge pressure already might be close to collapse. But is that an overreach?
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Yeah, I think that, you know, forecasts and predictions of the complete collapse of the Russian economy and the Russian banking system are probably a little bit overwrought. I got a bit of a public spanking myself once by saying that I thought that the Russian economy was on the verge of recession. The Russian economy is suffering, but it is sort of forging forward.
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C
We'll leave it there. Charles Hackers, thank you so much. As always, political risk in Russia. Analyst. And still to come on the program, we won the war.
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Help me go home. You may have already been to the cinema and loved it. We'll be looking at the audience reaction and box office sales following the release of Christopher Nolan's the Odyssey. That's coming up in our cultural roundup a little later on the global event list.
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A
Craft is a matter of perspective, a unique outlook, an obsessive attention to detail. With UBS's Chief Investment Office Houseview, we're focused on identifying the latest investment opportunities and market risks to help you achieve your financial goals. So you get the big picture broken down into thought provoking insights. Deliver daily and curated by over 200 globally connected, locally active analysts, UBS banking is our craft.
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B
7:16 here in London. But quite remarkably, it's 16 minutes past midnight in Guatemala City and the reason why we say that is we're heading to Guatemala because Monaco's senior foreign correspondent, Carlotta Rebelo is there. Good morning, Carlotta.
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D
Well, good evening from Guatemala.
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B
Emma, what are you doing now?
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Quite an exciting trip. Just discovering a few of the architecture gems of Guatemala, But a chance as well to refocus on some of the stories that have been picked up in the region.
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C
Oh, let's talk about that. A huge story in Brazil and Argentina. Diplomatic rift there. Tell us more about that.
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D
Absolutely. This is a story that's dominating all the front pages across Brazil. And I picked the one from Fola de so Paulo. And this is the diplomatic spat that has emerged after this weekend's remarks by Argentinian President Xavier Milei, who went to Brazil to support far right presidential candidate Flavio Bolsonaro, the son of Brazil's embattled foreign former president. And during this rally, he essentially called the Brazilian leader Lula da Silva, a convict, a thief, among many other names, of course, without ever referring to him explicitly. But it was very obvious who he was referring to. And Brazil has now recalled its ambassador to the country.
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B
It was quite an astonishing outburst, wasn't it? And the fact that Brazil has recalled its ambassador, ambassador to Argentina, does that make any difference whatsoever? Because one suspects that what Xavier Milei says is rather up to Xavier Mile himself.
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Well, yes, but what's quite interesting was to see the reaction from Argentinian lawmakers and former politicians to the remarks. You know, the former Argentine President Alberto Fernandez immediately took to his social media channels to basically say Milei was went to Brazil to shout like a madman, insulting the president of a sister nation and again highlighting as well the trade relationship between the two. In this post, Alberto Fernandez mentioned how Brazil is Argentina's main trading partner. So the damage to the relationship can have serious consequences. Now, beyond insulting Luda da Silva, Milei also targeted his rant at the Brazilian Supreme Court Justice Alexander de Moraes, again without explicitly naming him. But it was quite obvious who he was referring to. And this just shows, you know, that you are flying into a nation and then disrespecting the magistrate of the highest court in the country. That is not going to sit well with be people, is it?
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Yeah, it's probably not going to get much better with the elections being held in October. Let's move on to Morocco. And President Trump has very is very happy with Morocco at the moment, which has a long, long standing relationship with Washington.
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Well, what I don't understand with this story if it's a genius move from the kingdom or not, because we know that Trump loves a bit of attention, don't we? And the the king, Mohammed Vi of Morocco has named the new Tiznik Dakla highway after Donald Trump. And this is a sign, you know, to show how close Rabat and Washington are and as they expand this cooperation in defense and investment and also in regional security. Now, it is quite a huge piece of, of infrastructure, so it's quite significant. And of course, Trump loved the fact that now there's a Donald Trump Highway. Donald J. Trump highway, to be more specific, in Morocco.
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Sorry. What's quite interesting is the fact that Donald Trump, President Trump hasn't actually said whether he's going to travel on the thing.
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I think he said he might.
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Right? He might. He hopes to.
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Well, there's been, as usual, the inclination that he is, is very keen to visit. But whether or not he'll get on a plane to Rabat, it remains to be seen. But again, we need to remember that these countries, you know, they are linked also by a free trade agreement, which is the only deal of this type that the US has with the nation in the African continent. So this move really goes into that narrative of the US Bringing in value investment into Morocco's automotive, renewable energy and also technology sectors. So maybe there'll be other reasons for him to visit and he'll make it a automotive tour or something of that sort.
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C
How much are we to make of the fact that the highway is in the disputed region which is being defended or however, which every side of this perspective you have on this by the Polisario Front, which is backed by Algeria?
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Yes. I thought that that wasn't a detail that came by mistake, I don't think. But I don't know if Trump has even realized that before making his post on Truth Social.
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B
Let's move on to another story from where you are. I love this idea that Guatemalans aren't afraid of AI as if they should be a nation that should be particularly fearful of it. It.
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D
I know, I thought this was quite interesting. This is in the. The front pages of Perenza Libre, one of the newspapers here in Guatemala. And it's after a study that they've commissioned to kind of assess how the population is feeling about, you know, the rise of AI. And essentially the conclusion is people are not afraid of it because they don't really understand it. Which I also thought it was quite curious. And it highlights highlighted that the lack of training and knowledge about how it actually works and what it could actually do is more important than actually the fear that it might replace jobs and that might lead to an unemployment. And I think this points to such an important part of this narrative. Every week we see news stories about the rise of AI and how the technology is going to take over, but actually how people bother to explain what it actually does to the general population. I think coming from Guatemala, it's quite an interesting thing to see how this tool needs to be better understood, because if you don't understand it, you don't fear it.
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C
Well, that's partly true. But also, do you think that the government in Guatemala is explaining to the population as other countries have not been explaining to their population? People say AI is coming, but it's already here for a lot of industries.
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D
Absolutely. And I think that's precisely the issue here. It's highlighting that it has not been explained and you know, it has evolved from being an emerging conversation topic to a permanent topic that is completely linked to this idea of productivity and digital transformation. So when we think about impact it can have on employment and on the labor market, there is a lot of work that needs to happen in the background, be it by government or by other institutions, to fully explain its potential. Because equally it has a lot of potential to eliminate bureaucratic hurdles, to make some processes easier. But it's crucial that people understand what can be done and how they can use it to their advantage. Because it's not going anywhere.
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B
No, it's not going anywhere. We better all catch up. Let's move on to. Let's travel back in time a little bit though, and we're looking ahead with AI, but now we're going to go back to the Greeks. We're going to be talking about the Odyssey in a little while, but let's go right to the heart of it, to Mount Olympus. And it seems like a really strange thing that UNESCO has only just decided that Mount Olympus is one of the world great heritage sites. Well, one would have thought they might have got round to the city little earlier.
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D
I'm so glad you said it that way, Emma, because that's exactly what I thought when I saw this, this story. I almost felt, wait, wasn't this already on the list? But yes, we have the new list of UNESCO's World Heritage Sites and finally Mount Olympus seems to be to be on it. This is of course Greece's highest mountain, connected of course, the mythical home of the ancient Greek gods. And it took a while, but it got there. A few of the other highlights on the list though as well, which I think you'll appreciate are the Aalto works in Finland as well by Alvar Aalto and Roka's region of so Tome and Principe but also the ancient capitals of Asuka and Fujiwara in Japan. So it's incredible just to see the diverse diversity of regions too and of what's being added to the list this time around.
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C
And also the D day beaches in Normandy and France has been pressing for this since 2008.
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D
Exactly. Which again, it's one of those that I'm quite curious of why didn't make it in 2008 or since then and why it took until now for it to be added to the list. I know that of course, with the beaches and north Normandy, there was some quite complexity about just the span of the site and how to precisely limit it and what would be proposed to the UNESCO World Heritage Site. I think it's five of the beaches where more than 150,000 of the Allied troops came ashore in 1944. But yes, to think that it first nominated this stretch of coastline back in 2008 and it took until now for it to be added. It seems like there was a lot of catching up by UNESCO this time around.
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C
I think it might have had something to do with tourism and climate change and rising sea levels as well. We'll have to leave it there. Carlotta Rubella, Monocle senior foreign correspondent, thanks so much for joining us at this very early hour in the morning in Guatemala. You're with the Globalist on Mon Radio.
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B
Now a quick look at some of the other stories we're following today. At least two people have been killed in a shooting at a street food festival in the United States city of Seattle. At least five people have been injured. The suspect in the Berlin Pride attack has been shot by police. Abdul Balu was accused of killing a woman and injuring 29 people on Saturday when he drove a van into a crowd and then carried out a knife attack. Brazil has recalled its ambassador to Buenos Aires after Argentina's president insulted Brazilian government officials and called President Lula a thief and a convict while on a visit to the country. Xavier Milei was attending a rally in Sao Paulo nominating the right wing candidate Flavio Bolsonaro to run in October's presidential election. And shares in China's leading memory chipmaker have leapt by 500%. Cxmt briefly became China's most valuable company on its market debut in Shanghai. This is A globalist. Stay tuned.
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C
Well, those are some busy headlines, but we also want to go behind the headlines, Emma, and we're going to take a look now at what has happened in Paris to that famous room in the Louvre that was robbed, daringly robbed I might say some time back. And now the room has just been reopened and we're going to hear more now from Thomas Waterhouse.
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E
Last October, two men entered the Galerie d' Apollon at the Louvre armed with little more than an angle grinder and a furniture lift and easily left with 88 million euros worth of French crown jewels. The theft left the Louvre ridiculed. How could the security password of the world's most visited museum be Louvre?
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H
We know that this team of three to four people placed this lift for
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I
good right outside the Louvre Museum. And they just at opening hour at
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J
9:30, went up, broke the window, took
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nine invaluable pieces of Napoleon's collection, including a crown, a brooch, a necklace and within less than seven minutes they just were able to leave, get back on the highway and disappear.
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E
Nine months later the gallery has reopened to the public, but with a catch. There's nothing in it. Visitors are now invited to view the 60 meter long, 15 meter high space for what it is, a beautifully decorated room. The Galerie d' Appellon was initially created in 1661 for Louis XIV by the architect Louis le Vaux and the painter Charles le Brun. It was designed as a reception space made to impress visitors and to reflect the king's grandeur. By the time the thieves broke into the room last year, its purpose had long shifted from reception to showcase. The Louvre responded to the heist by overhauling its security protocols, removing the glass cases and relocating their contents to other more secure parts of the museum. The gallery is once again the art. But the incident highlighted that perhaps the best anti theft measurements is to not have anything on display at all.
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C
And that was Monocle's Thomas Waterhouse. For more you can sign up to our daily newsletter, the Monocle Minute. Head over to monocle.com minute this is the globalist and I think that is the best advertisement for reminding people that really, you know, if you're going to steal our jewelry, then we're just going to leave the room quite empty.
- [35:17]
B
Emma Indeed. And what I absolutely love is have you been reading the transcripts of the interviews? They've been popping up up in Le Monde and in Euronews as well, has been covering what the two suspects have been saying. And apparently they were recruited just two or three days before it, it happened. The instructions were break windows, retrieve jewelry from inside the display cases. That was as simple as they was. One of the defendants is saying he had no idea where he was being sent to break windows and steal jewelry. The other one just went, I knew I was going to rob the Louvre. I just quite like the simplicity of all this that we see. All this sort of glamour and heisty heist is sort of like really, really like deep from, from the movies. And actually it was just like break windows, steal jewelry, run away. Yeah.
- [36:05]
C
One thing's for sure, the password isn't Lou anymore.
- [36:08]
B
Well done, everybody. You're listening to the Globalist. Eight thirty one in Madrid, seven 31 here in London. Now let's hear an update on the wildfires that have been scorching their way across France and Spain this weekend. The impact of the blazes is being felt by both residents and tourists alike. A Bordeaux City Council spokesperson has said that a total evacuation of the city is being considered. The mayor has subsequently downplayed the possibility, but as we are seeing dynamically, it's left governments in both Paris and Madrid wondering what this means both in the short and the very, very long term. So to talk about this from the View from sp, we're joined now by Sarah Morris, who's the Madrid correspondent for the International News Network France 24. And from Paris, we're joined by Suneuver Rose, who's a correspondent for the National. Very good morning to you both.
- [37:04]
J
Good morning.
- [37:05]
D
Morning.
- [37:06]
B
Sarah, let me begin with you. We now have what would just bring us up to date with the latest because the story is changing all the time, isn't it?
- [37:17]
J
Yes, it certainly is. The weekend and particularly yesterday was quite positive for the firefighters. That's what they've been saying in the last few hours because one of the problems was were the high winds and the very high temperatures. And basically we have it's central Spain fires to the west of Madrid, fires also further west in Abila and also in Toledon. They're all being handled by a military unit as if they were the same fire because they are still focused on making sure that the Madrid and Abila fire doesn't come together. They say they've been able to contain a lot of the fronts, but there's still active points. And they have said that that Abila fire has now ravaged 50,000 hectares and they say that makes it the largest and the most aggressive that they've had in their records, at least in recent records. So we've still got a lot of people evacuated, but a little bit of good news for some of them because they're going to be allowed some of those people to go back to check on animals if they haven't been able to bring those pets. And there'll be some of people who were evacuated from a massive campsite in El Escorial has on almost 5,000 places in it. They are actually going to be able to go back because the fire did not reach that area.
- [38:59]
B
I mean, in that context, Sarah, staying with you. This is an astonishing success story given the fact that the number of people who I believe have been evacuated from their homes is pushing 90,000 in that area. And as you say, they are all being placed in temporary accommodation, some are being allowed back, but astonishingly, no one has been hurt, despite the that the livelihoods of many have destroyed. There have been no physical injuries.
- [39:27]
J
Yes, I think that that is worth underlining because we know that there was a very tragic fire in Almeria in the south of Spain just earlier this month. And 13 people died in that fire. And so the focus here has been very much on ensuring there was no repeat of that, that people, people knew where to go, that people knew when to stay in their homes. Because sometimes people are told stay indoors until the path of the fire passes. And other times people are told move immediately and move to this particular area. And so what is interesting about this and might be a test case for Spain is that very early on the Madrid regional head actually took the decision to elevate the level of the fire, which meant that the central government took over the running of it. That of course unblocks military firefighters to come into the area. And so that's very interesting because some of the firefighters in the past have said they all have different methodology and the emergency services are run on a region to region basis. Why not have an overarching unit unit nowadays to take care of prevention and sending out firefighters to the areas where they're needed. So we'll see if this becomes something to be copied for future years.
- [40:55]
C
And it's also a regional response. But also so much depends on the weather, Sarah, doesn't it? What do the next few days herald?
- [41:03]
J
It does unfortunately depend a lot on the weather. And unfortunately we are going to get higher temperatures, temperatures over this week hitting up to the 40 again. That dropping of temperatures did help. I understand that in some areas the wind has actually helped and they think that the wind may continue to help because when it changes direction, sometimes it will blow the fire further, but in some cases it's blown the fire path back over already damaged land. And that actually, actually has helped the firefighters. But they've been quite honest in this case about these fires. They've sometimes said whatever they can do. And they brought resources in from Greece, from Italy, from Turkey, from other regions in Spain to help. But at the end of the day, they were very, very dependent on the wind dying down and the weather.
- [42:01]
B
Suniva, let's head to you in Paris. The situation is, what with you, this huge fire that's burning to the rest of Bordeaux. It's now closing in on Bordeaux. It's very, very, very close to the city boundaries where you are. Though we have President Macron convening a crisis cabinet meeting today to try and work out how to take the next. What the next steps must be.
- [42:26]
J
Yeah, it's a really dramatic turn of events. Bordeaux's mayor said that the fire is about 15 km from the entry points of the city.
- [42:35]
B
There's no plans to evacuate at the moment.
- [42:37]
J
The city's got about 850,000 people. Speaking last night, Interior Minister Laurent Nunez said that fires were still out of control and at fairly regular intervals were shifting directions towards the city of Bordeaux.
- [42:53]
B
So it remains out of control.
- [42:55]
J
But at 6am this morning, local authorities said that the situation was relatively stable.
- [43:02]
B
So that's still one to watch, watch
- [43:03]
J
to see how it develops.
- [43:05]
B
The area is already been really deeply
- [43:09]
J
damaged with the area of Cap Ferre,
- [43:11]
B
which is a popular tourist destination on
- [43:13]
J
the Bay of Ravaged. It's famous for its colorful villages and oyster farming. And the temperatures are going up later this week with France already suffering three heat waves. And now we're entering our fourth. So it's likely that we're still going to be looking at some difficult days ahead.
- [43:34]
B
Synova Rose, correspondent for the national in Paris. Thank you so much for joining us. And thanks too to Sarah Morris, the Madrid correspondent for France 24. The. The idea that such a beautiful part of France, and indeed of Spain, could just be burnt to a crisp is quite astonishing. I mean, Suniva was talking about the beauty of Cap Ferre, but. But that whole part of the world is covered in these beautiful pine forests, which are a joy to be in. And they. The landscape there is just so amazing. The smell of the pines and as someone was saying, it actually smelled one or one awful comment from a woman a few days ago said it actually smells like death around there now, because such an amazing part of the world is just being ravaged by a fire at top speed. And dare we say it, at the time when we're all looking at that, you know, looking at holidays and beautiful destinations and beauty and escape and nature and actually we're finding ourselves in an
- [44:27]
C
absolute battle with it and becoming more regular too. I mean, they were just outside Paris recently, but look, we leave it there for the moment, you're with Monocle Radio. You're listening to the Globalist with Fanula Sweeney and Emma Nelson. More of us are living alone, which means more of us are dining alone, both at home and when eating out. Solo dialing dining, I should say globally, is up 23% percent in the last 12 months compared to the previous year. Now, 50% of respondents told OpenTable that finding a table for one was the biggest challenge of solo dining. So once you've found a table, is there an etiquette for dining out for one? Should one bring a book? Have a smartphone handy? Let's find out from Kira Mirbella, the deputy editor of our Confect magazine. How cool is it to be solo these days?
- [45:24]
H
Well, I'm a huge fan and I haven't been for a long time. I, I just found myself in the condition of having to eat by myself very soon because through my assignments with Monocle, I have traveled the world with it and, you know, there is no point in being afraid of it if you're going to have to do it more or less every day. And nowadays I've discovered a great amount of pleasure in it. I also live by myself here in London, and so it's something that I've taken to doing here back at home and not just when I'm forced to doing it. And I would agree with the respondents that there are some pitfalls in terms of the interactions with the rest, with the restaurants, but ultimately I think it can come in your favor as well. Yes, sure. Frequently you can't put an option to dine by yourself onto a booking app, but dining by yourself also gives you the opportunity to kind of snatch that counter table when nobody else would be able to at a restaurant that normally is very hard to get a table at that. And arguably the, the sort of, the, the absolute spontaneity of it is what makes solo dining quite so amazing that just last week I had a kind of a moment over lunch where I didn't quite know where I was netted next. I was right by Cafeter Chilia on the canal and I thought to myself, why not? So I just walked in.
- [46:46]
B
It is one of those glorious things, isn't it? I can remember eating the most fantastic and fried courgette flowers on my own because my, my companion was super late. And I suddenly thought, right, I'm going to make a thing out of this. I'm going to have an amazing time and no one's going to watch me eat exactly what I want. What do we do in terms of ordering things because I know if I'm at home, the temptation to collapse into a bag of crisps and some wine is, is one of those things that you know when you're, when you're cooking by yourself, sometimes you, the frankly can't be bothered button is pushed. But when you're out dining, Chiara, do you go full out or do you have a healthy salad? Or is there, or is that that temptation to have that third glass of wine because no one's looking and you can have chips too?
- [47:27]
H
Emma, you know me, I used to be the host of the menu. What do we think that I'm going to order a side salad? No, I, I always start off with a healthy interaction with the server explaining I'm by myself, but I love eating and I love eating lots of things and I love trying lots of things. So we have like a conversation about what makes sense, you know, small plates. There is a bit of a, again, sort of a disadvantage in this trend for small plates internationally because they're called small but not really small. They're sort of in between what would be an appetizer and a main nowadays. And they're designed for sharing. So not always just by piling on the small plates. Can you eat as a solo person Again, when I was at Cafe Chichila just last week, I had this conversation and they were like, well, we can do you half portions. Miraculous. Miraculous. Because, you know, in olden days you thought that you could have conversations about the menu and how it could be customized for you. But there, the restaurant industry, by virtue of it becoming difficult to make margins on certain things, has become a little bit more inflexible when it comes to making changes to menu. But there I was able to have half portions of these delicious, you know, burrata salads and whatnot. And so I left having tried three different dishes by myself and having eaten just the right amount for lunch.
- [48:46]
C
I think it used to be a very self conscious thing to eat out alone. And this is why Gen Z and Millennials particularly don't really feel self conscious about eating out alone. But we also have the smartphone. And I wanted to know, when you're eating out, do you indulge in reading maybe a book or do you look at your smartphone or do you simply concentrate on the food?
- [49:06]
H
It's complicated. I think it's context dependent. I don't want to demonize looking at your phone, you know, because I think that it puts a lot of pressure on yourself to kind of force your, like, don't look don't look. It's a bit like thinking about a pink elephant. So I take it with me. I'd also take a book which I only read in between courses at very long meals. Otherwise, I think for me it's a chance to actually and finally properly enjoy the food. Because I eat by myself at home a lot. I'm used to sort of distracting myself with whatever I'm watching. But at a restaurant during the eating, there is only the eating and it allows me to really concentrate on it. I recently watched was in Florence for another assignment and for the assignment I had to, in inverted commas, have a three, a three hour long tasting menu by myself. And during that, because it's a very formal setting, I couldn't whip out my phone, I couldn't read my book and I just ate and I just really savored the food. And I mean, there was a lot of it. There was also a lot of amazing conversations with the servers. And I think when the servers and the staff can see that you're enjoying yourself, can see that you're there for the food and really to talk about it with them, it doesn't matter if you're by yourself and how much you're spending. There is a joy in that interaction because you're all fully focused on what's happening.
- [50:24]
C
And I suppose if you have a three hour tasting menu, it depends on cultures in various countries as well. I mean, I have a friend who was once based in Tehran and said that, you know, eating out was not as we would assume it would be in European cities or London. And it was a very much, much just scurry in, eat as quickly as you can and then get out.
- [50:46]
H
Yeah, truly. I mean, as you say, internationally it's very different. Many people hail Japan as kind of the holy grail of solo dining. I do like it because I think that obviously counter dining offers a bit of an escape and it is more utilitarian. Scandinavia is quite good for that as well because there's less sort of a, you know, going to a buzzy bistro in France, you do feel a little bit like you're missing out if you're not there chatting to somebody. But. But in Scandinavia there is a quieter kind of energy to proceedings anyway in saying that. I've eaten by myself all over the world, in Cairo, in Stockholm, in Italy, multiple times. And as I said, I think the crux and it is not to think that people are looking at you and are judging how quickly you're eating, how much you're eating the Fact that you are indeed eating alone. If you ever. Have you ever thought about somebody else eating alone in a restaurant and thought, oh my God, I wish they had friends? No. Most probably you just thought they're having a lovely meal by themselves. And so that's what I apply to myself. And that simple trick has saved me plenty of times.
- [51:57]
C
Well, this is a fascinating conversation. And Chiara, reducing the stigma of dining alone. There in that conversation with establishment. Thank you so much. Confex magazine Deputy editor. This is the globalist on Monocle Radio.
- [52:14]
A
Iq, EQ and AI. Three components key to the craft of innovation at ubs. Because to stay ahead in a rapidly evolving age, you need a partner with decades of experience, endless passion for the work and a finger on the pulse. Pulse of leading technologies bridging human expertise with artificial intelligence. All to elevate you. UBS banking is our craft.
- [52:49]
B
07:47 Here in London at Fionnuala. I can't get a ticket for Odyssey for Love. No money. Can you? How are you getting on?
- [52:55]
C
I'm not even trying. I passed a second cinema in Notting Hill the other day and it was book your tickets and it's just months in advance.
- [53:01]
B
Okay. It's good to see. I'm really happy about the fact that we're actually struggling to get into the cinema because it goes in the. In the opposite direction. But to find out just how hard it is to get a ticket, let's hear from Ashanti Omkar, film, TV and culture broadcaster, a regular voice here on Monocle Radio. And here to talk about, more generally about culture news. Very good morning to Ashanti.
- [53:19]
D
How are you?
- [53:20]
I
Good morning. I'm good, thank you. It's a lovely sunny day here in London.
- [53:24]
B
Excellent. Which is a good thing because no one can get inside to get to a cinema, can they?
- [53:28]
I
That's right, because every single screen seems to be sold out, especially in the way the director intended. There's a meme going round saying, you know, in the way Nolan intended. He wants everyone to see this film, the Odyssey, on the biggest and the best screen, which is a 70 millimeter IMAX screen. And of course, as you mentioned, people are struggling to get in because. Because, you know, the BFI IMAX in London, which is the premium screen really, for this format, where they unspool the, you know, the film and they put it on. It's been sold out for months. People can't get until, you know, I think it's end of September now. So there is a struggle to get in to see this film in the way the director intended. Of course, you can go and see this film in the normal way in a normal cinema in your local high street. But of course, what you miss out on is the amount of space, headspace that has been captured in this kind of, you know, this long format that you can't see. So, you know, the meme was going around of Tom Holland and his head being cut off, you know, the top of his head and, you know, you only get to see up to his neck. And people are saying, we want to see more of all of this. And this is the issue we're having at the moment with the Odyssey, which is already surpassed 600 million globally after just two weekends of release.
- [54:47]
B
Everybody's getting very, very excited about it. One thing that people are getting slightly less excited about is again, a revisit to the ancient world, but this time not to Greece, but to Pompeii. And Tom Hiddleston has done this rather bananas sort of revisiting of the moment up to Pompeii. And everybody's going even more bananas because they've worked out that Tom Hiddleston can speak Latin. Ladies and gentlemen. Gentlemen.
- [55:14]
I
Yes, indeed. I was at the premiere of Pompeii out of Time, which is on National Geographic and on Disney, and Tom Hiddleston does indeed speak speak Latin. But you'll notice in one of the episodes that he gets it slightly wrong and one of the experts in it corrects him. And it's a really interesting correction because this is where he had made an assumption that those survivors could have been, but they were actually women. And this is where the gender he had got slightly wrong, which was quite an interesting bit that made us all chuckle.
- [55:49]
C
We need to move on to another story, which is on Prime Video. There is a new series with Hannah Waddingham, who plays a 50 year old assassin going rogue. And tell us a little bit more about it. Hannah Waddington was described recently in the Guardian and as someone who could probably talk most of us into a burning car should she wish to. So how is Ride or Die?
- [56:12]
I
Ride or Die has my heart. It's one of the most exciting series I've seen this year. It's got Octavia Spencer as well in it, as well as Bill Nighy, you know, so we've got some real national treasures in this show. And as you mentioned, Hannah Waddingham is absolutely fantastic in everything she does. And it's in this one, giving us a trained assassin who is so glamorous, who's so good at what she does. We really get to see her. And a big, big part of this show is to show that a person of a certain age doesn't, you know, doesn't mean that there's a cap on the work they do. And this is something that is a discussion that's going on globally about women of a certain age. And this show shows to you that, you know, do not underestimate, underestimate a woman with experience and a woman who's very good at what she does. Because this is exactly what Hannah Waddingham and Octavia Spencer, as these two best buddies do in this show.
- [57:09]
B
Very briefly, Variety took a different view. It said it's no Thelma and Louise. Is it actually any good?
- [57:15]
I
I found it very, very good. Yes. Thelma and Louise is a product of its time. And I guess that, you know, whoever wrote that in Variety, I did see that headline. I felt like they are still in that nostalgic period and not able to move on to modern times. And this one is very modern. This brings us to today's world and what could happen with a friendship, with an adult friendship, which is the crux of the story.
- [57:40]
C
And we have another series on Apple, this time featuring a con woman fleeing for her life. Apparently it's all explosions and just wild coincidences. Anya Taylor Joy is the lady in question. Tell us more about this series.
- [57:54]
I
This is also very exciting, just like Ride or Die. This is one that, you know, when I saw it and I was quite lucky to see it all in one go because I had a preview of it and it's being dropped every week. So, you know, right now, if you start to watch it this week, you'll still have three more episodes to go. And it really did keep me on my toes. Anya Taylor Joy is such a good actress and she was brings this character of Lucky to the forever very, very well. She's a con artist and she knows how to dodge the. Dodge the police, dodge the FBI, dodge ruthless crime bosses. She's able to do this. And watching her just takes you into that screen. And this also has Timothy Oliphant in it and Anjean Ellis Taylor and Reese Witherspoon is one of the producers on this one. And it really, again, it's really nice to see women at the fore of series like this, which would have been given to men back in the day. So it's quite nice to see that people are circumventing those old traditional ideas and saying, let's put an action woman in the frame.
- [59:00]
B
Meanwhile, Tom Hiddleston speaks Latin, Ashanti Omkar Film TV Culture broadcaster, thank you so much for joining us on the Globalist.
- [59:13]
C
Now finally on today's show, the team behind our quarterly lifestyle magazine Confect are hard at work preparing the next issue which is due to be published late August. And Monocle's luxury markets editor Brenda Tuohy is luckily heading off to Paris later this week to shoot one of the spreads for that issue. She joins us now in the studio. Well, tell us more. What are you looking for in your wonderful shoot that's going to be taking place?
- [59:37]
K
Well, we're going to shoot in a printer's in a big, fabulous, glorious printers in Paris. I'm going to go tomorrow because strangely the first early morning train to Paris has been cancelled on Wednesday morning. So I'm going to have to go on Tuesday and have a bit of a Parisian evening. Yeah, I know it's really hard. I think it's prancing around in the very hot, hot, hot streets of Paris as I think it's 39 again on Wednesday. But we're going to shoot in a printer. So going to shoot a little bit of fashion with jewelry and watches.
- [60:12]
B
Yeah.
- [60:12]
K
Daphne Hazard as our stylist. I think it's going to be great.
- [60:16]
C
Tell us more about what goes into the into a shoot, like for example, choosing a printer. I mean it's not going to be, I'm not imagining like up to the state of the art printers I'm expecting, but correct me if I'm wrong, a wonderfully old. Good.
- [60:30]
K
Again, you're absolutely right. I mean, you want somewhere that has a little bit of character or a lot of character and a lot of opportunities to shoot from different angles as well. You know, we shot in Vienna also for this issue, the summer issue we shot in London. But we're going to head to Paris with fabulous Daphne Hazard and she has just this fantastic kind of light touch but this ability to sort of see things that we don't. You know, she knows and understands composition and how to put things together with her savoir faire because she's fabulously French and it should be fantastic. So we've got a model. She'll have beautiful hands and I'm sure a lovely face. And we're going to show a little bit of fashion, jewelry and watches.
- [61:20]
B
Interesting that you mentioned hands before face because that suggests, Brenda, that you're looking away, what lovely, delicious baubles might be on them.
- [61:29]
K
Well, let's expect some rings and some bangles, but I have called in some necklaces too. So I mean, I Don't want to tell all, but it should be glorious.
- [61:40]
C
Is there a certain theme when it comes to trying to match watches and jewelry together in this particular shoot?
- [61:46]
K
You know, that's, that's the real. Yeah, it really is. I mean, that's where the difficulty comes in. I mean, in addition to the watches and the jewelry, which obviously have to complicate complement each other so often you would have, let's say jewelry and watches from Chanel or Cartier so they all complement each other. Less often would you mix. But that happens, too. But in addition to all of those, we're going to have some props, so we hope to have pens and fabulous stationery as well because there is some really incredible stationery around and. Yeah, so it should be fun because it's always handy to have a little prop.
- [62:25]
C
Well, all these gadgets, you know, Apple watches and other watches prevent people from, you know, wearing their nicer watches, which are jewelry. Apart from Emma, you are. And I was, I was with a friend over the weekend and she wanted to buy a luxury watch. And then she said her sister told her there's no point because you always wear your watch, your other watch and to track your steps. And I have begun to realize that I wear my buy beautiful jewelry watches going out in the evening, but I wouldn't wear them necessarily during the day. I just wonder if the watch industry has been affected by that at all.
- [63:00]
K
I mean, it probably has. But you know, like Emma, some people wear both. I mean, I count my steps, but just from my iPhone, so it's normally in my pocket, I guess. I mean, some people wear that as a piece of jewelry, don't they? They have special chains for their phones.
- [63:14]
B
The Apple watch comes off when it needs to put it that way way the Omega doesn't when it needs to be charged.
- [63:22]
C
Brenda Toohey, good luck in Paris. Enjoy the shoot. I look forward to seeing it in the magazine later in August. That's Brenda too here, luxury markets editor. Thanks so much.
- [63:30]
B
Thanks, Brenda. And that's all the time we have for today's program. The warmest of thanks to all my guests, all our guests and Chris Chermack, Cassan Anderson and Thomas Waterhouse were producing. Our researcher was in Kaylee Martin and our studio manager was Mariella Bevans.
- [63:43]
C
And after the headlines, there's more music on the way. The Briefing is live at midday in London and the Globalist returns at the same time tomorrow.
- [63:50]
B
But for now, from me, Emma Nelson, I'm Fionnualah Sweeney.
- [63:53]
C
Thank you for listening.
- [64:03]
A
With ubs you have a truly global partner incorporating new technologies, innovative approaches and unexpected opportunities, leading you to insights that help answer the questions that matter. Delivered with passion, care and unmatched expertise. Because it's about rising with the dawn each day, knowing that we can do even better. That's what banking is to us. Not just work, but a craft. UBS advice is our craft.