Telefónica plots push into cyber and data centres to clear way for deals

The UK has reached an agreement with Spain to allow Spanish customs to check goods entering Gibraltar, facilitating the removal of border controls for people traveling between the two territories. The deal includes raising Gibraltar's sales tax to align with Spain's VAT, permitting certain exemptions for specific goods, and is seen as crucial for improving UK-EU relations post-Brexit. More Context

This month, as G7, NATO, and EU leaders meet, a crucial focus emerges on the US's shifting defense commitments to Europe, necessitating the EU's proactive stance on its own security and investment in defense. With increased European defense spending and a commitment to collective security, the transatlantic alliance aims to support Ukraine and maintain economic strength amidst global tensions. More Context

Donald Trump is set to finalize a US-UK trade deal that will lower tariffs on British car exports in exchange for increased access for US beef and ethanol, following an agreement made with Sir Keir Starmer. While UK officials expect the deal to be signed soon, there are ongoing negotiations regarding zero-tariff access for UK steelmakers, amid concerns from the bioethanol industry about competition from US imports. More Context

The EU is targeting two Chinese banks for facilitating illegal trade with Russia as part of new sanctions, marking a significant step against third-country lenders. Meanwhile, the UK has reached a deal with Spain to allow free movement between Gibraltar and Spain, resolving a long-standing issue post-Brexit, while Italy faces pressure to increase military spending ahead of a NATO summit. More Context

The EU is preparing sanctions against two Chinese banks for allegedly facilitating banned trade with Russia, marking its first attempt to target a third-country lender involved in supporting Russia's invasion of Ukraine. These sanctions, included in the European Commission's latest measures, require unanimous approval from EU member states and aim to close loopholes that enable Moscow's military supply chains. The decision comes amid heightened tensions, as trade between Russia and China has surged, and as...

The article discusses the challenges faced by European entrepreneurs in scaling companies, noting that no EU start-up has surpassed a €100bn market cap in over 50 years, with SAP being the last in 1972. It critiques the European Commission's "Startup and Scaleup Strategy," arguing that while better regulation and support are needed, heavy-handed intervention is counterproductive. The author advocates for a public sector-enabled, private sector-led approach to foster synergy between start-ups and industry, emphasizing the...