Labour MP Dan Norris arrested on suspicion of rape and child sex offences

A trade economist, who is the chief executive of the Centre for Economic Security, warns that global credit markets are showing signs of distress, potentially leading to a rapid deterioration in credit conditions and impacting defense industries heavily reliant on specialized financing. To address this issue, finance ministers from Europe, the UK, Norway, Canada, Australia, Japan, and international partners are urged to establish a new multilateral institution, the DSR Bank, aimed at financing long-term defense...

The Bloc has criticized US tariffs as unjustified and damaging, causing economic harm to both sides. The EU has agreed to retaliate by imposing tariffs on €21bn of US goods, targeting farm produce and products from Republican states. The tariffs, ranging from 25% on goods like almonds and yachts, will be implemented in stages starting from 15 April. Full Article

The European Union has unveiled a €20bn plan to establish new sites with powerful supercomputers in Europe for advancing artificial intelligence (AI) development, potentially amending existing AI regulations. The initiative aims to position Europe as a leader in AI innovation, with European Commission vice-president Henna Virkkunen emphasizing the importance of AI for competitiveness and technological sovereignty in a global context. The strategy underscores the ongoing global competition for AI dominance and the significance of AI...

EU President Von der Leyen is urged to take rapid and radical action as Donald Trump threatens tariffs on pharmaceutical imports, causing stocks in the sector to plummet globally. European and Indian drugmakers are particularly affected, with fears of companies relocating to the US. Trump's 20% reciprocal tariffs have already taken effect, with further damage anticipated. Full Article

José Luis Escrivá, governor of the Bank of Spain and an ECB governing council member, warned of negative economic impacts from Donald Trump's tariffs, potentially questioning the dollar's reserve currency status. Escrivá highlighted uncertainties around the fallout of US policies and emphasized the importance of a coordinated European response. As investors anticipate an ECB rate cut, Escrivá suggested the euro could become a more attractive alternative amidst global financial turmoil and revised down Spain's growth...

UK chancellor Rachel Reeves pledges to strengthen trade ties with the EU amidst escalating tariffs from Donald Trump, emphasizing the importance of avoiding a trade war and seeking improved trade relations globally, especially with the EU post-Brexit. Reeves aims to enhance market access by aligning regulations with Brussels rules and engaging in discussions with top UK businesses to address the impact of tariffs and promote responsible trade practices, while also pursuing a US trade deal...