The world’s largest sovereign wealth fund has warned that investors face years of low returns due to permanent inflation, and splits are emerging in corporate America’s response to a supply chain crisis. Plus, the FT’s Europe editor, Ben Hall reports from the Ukraine city of Mariupol about how people view a potential Russian invasion. 

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Mentioned in this podcast:

World’s largest wealth fund warns ‘permanent’ inflation will hit returns

Ukrainian frontier city weighs threat of renewed Russian aggression

Winners and losers emerge from lingering US supply chain crisis

Tui raises €500m fund to finance new hotels

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