Economists warn Treasury is likely to raise taxes even further this year

The EU has reached a preliminary agreement with Ukraine to enhance food exports, adjusting their prewar trade pact and requiring Ukraine to align its agricultural standards with EU regulations by 2028. This deal, aimed at addressing concerns from EU farmers, follows tensions over Ukrainian imports affecting local markets, particularly in Poland and Hungary, and includes provisions for increased quotas while maintaining market stability. Explain It To Me Like I'm 5: The EU and Ukraine have...

The European Central Bank (ECB) has warned that maintaining inflation control will be increasingly challenging due to trade tensions and structural shifts, committing to a "forceful or persistent" response to inflation deviations from its 2% target. ECB President Christine Lagarde emphasized their dedication to price stability amid a rapidly changing economic landscape, while the bank continues to adapt its monetary policy tools. Explain It To Me Like I'm 5: The European Central Bank is working...

This article discusses recent trade developments, including Donald Trump's halt in talks with Canada over a digital services tax, prompting Canada to rescind it. It critiques Ursula von der Leyen's ambitions to reform the WTO, arguing that without participation from major players like the US, China, and India, any new governance structure would likely be ineffective. Explain It To Me Like I'm 5: The article discusses recent trade tensions involving Donald Trump and Canada, critiques...

This article highlights a Financial Times investigation revealing that Russia's FSB is grooming Ukrainian youth to spy against their country. Meanwhile, European lawmakers express concerns over US trade negotiations, particularly regarding the enforcement of the Digital Markets Act, as the Eurogroup leadership race approaches with incumbent Paschal Donohoe likely to secure another term amidst challenges from socialist candidates. Explain It To Me Like I'm 5: The article discusses how a spy agency in Russia is...

Poland plans to quintuple its howitzer ammunition production to enhance self-sufficiency and mitigate reliance on imports amid concerns over Russian aggression, as announced by state assets minister Jakub Jaworowski. The government will allocate 2.4 billion zlotys to state-controlled PGZ to boost annual output of 155mm and 120mm shells, addressing significant defense shortages and transitioning focus towards domestic manufacturing. Explain It To Me Like I'm 5: Poland is planning to make a lot more big bullets...

The upcoming US jobs report for June is expected to show a slowdown in hiring, with economists predicting 120,000 new jobs added and an increase in the unemployment rate to 4.3%. This data will reflect the impact of Donald Trump's government cuts and tariff policies, while also indicating that continuing jobless claims have reached their highest level since late 2021. Explain It To Me Like I'm 5: In June, fewer people in the US got...