EU urged to force Big Tech to vet financial ads for scams

Three years ago, US west coast ports faced congestion due to post-Covid disruptions, but now they are emptying as Donald Trump’s tariffs disrupt cargo schedules from China. While some believe these tariffs could harm trade and the economy, historical evidence suggests that the US economy can absorb shocks and recover swiftly, as seen post-Covid. The critical concern lies in whether Trump will continue to escalate tariffs, potentially leading to long-term damage akin to Brexit, or...

EU capitals are urging Brussels to delay retaliation against Donald Trump’s tariffs until the NATO summit in June, prioritizing a security deal with the US. Diplomats recommend pausing significant defence investments and avoiding provocative discussions on trade to minimize tensions with Trump, who demands increased European defence spending. As the summit approaches, officials are focused on finding a credible plan for Europe to take on more defence responsibility, reflecting concerns over potential clashes reminiscent of...

SummaryIn response to Russia's invasion of Ukraine, Deutz, a historic German engine manufacturer, pivoted to defense, anticipating that 2% of its projected €2bn annual revenue will now come from military contracts. This shift reflects a broader trend among Germany's Mittelstand companies, as they embrace rising defense spending amid economic challenges, with firms like Alzchem reorienting from agricultural supplies to ammunition production. The move marks a significant cultural shift in Germany, where arms manufacturing has long...

This article highlights European officials' call for a pause on decisions that might upset Donald Trump ahead of the June NATO leaders’ summit. It discusses the EU's deforestation law, which could harm American logging companies by imposing compliance challenges, as they argue it unfairly benefits EU industries. Additionally, the Ukrainian parliament is set to approve a minerals deal with the US, which may raise concerns among Ukraine’s European allies regarding its implications for Ukraine's EU...

The UK and EU are at an impasse over a youth mobility scheme crucial to post-Brexit relations, with only two weeks until a pivotal summit in London. The EU seeks a dedicated visa for young people to work and study in the UK, while the UK proposes a limited scheme with no rights for dependants or benefits. Additionally, the two sides plan to announce a Security and Defence Partnership and discuss co-operation on various issues,...

Poland’s central bank, the National Bank of Poland, has cut its benchmark interest rate for the first time since Prime Minister Donald Tusk's return to power, lowering it by half a point to 5.25% due to a drop in inflation from 4.9% in March to 4.2% in April. Tusk had pressured the bank to lower rates ahead of the May 18 presidential election, claiming it was “high time” for a cut. Economists suggest further rate...