Starmer denounces benefits system as ‘unsustainable, indefensible and unfair’ in move to slash welfare bill

The EU has selected Ediphy to create a consolidated tape for bonds, aiming to enhance market transparency and efficiency by capturing over 90% of trades in real-time. While this initiative promises to lower transaction costs and improve price discovery, it may complicate block trades for dealers due to increased transparency in a fragmented market. Explain It To Me Like I'm 5: The EU is finally creating a system that will show all bond trades in...

America's trading partners have largely refrained from retaliating against Trump's tariff war, allowing him to collect nearly $50bn in extra customs revenues with minimal pushback, primarily from China and Canada. This reluctance stems from economic pragmatism, as countries prefer to negotiate rather than escalate tensions, fearing the repercussions on global supply chains and inflation. Explain It To Me Like I'm 5: Despite Donald Trump's tariffs on imports, most countries have not fought back, allowing the...

This article discusses the EU's upcoming proposal to overhaul its budget for 2028, aiming to consolidate programs and prioritize new areas like defense, amid pushback from traditional beneficiaries. Additionally, a report reveals that the EU risks losing over €1.2tn in economic gains without addressing its fragmented cloud policies, which hinder competitiveness in key sectors. Explain It To Me Like I'm 5: Brussels is working on new plans for how much money the European Union will...

Brussels is proposing political safeguards to secure France's support for the EU-Mercosur trade deal, which aims to create a market of 700 million consumers by merging the EU with South American nations. France's backing hinges on protections for its agricultural sector against competition from imported beef, chicken, and sugar, while resistance from Mercosur countries is anticipated if these safeguards alter the agreement's balance. Explain It To Me Like I'm 5: The European Union is trying...

French Prime Minister François Bayrou has proposed a €44bn fiscal package for 2026, including a spending freeze, the elimination of two national holidays, and cuts to pensions and welfare to address France's rising deficit. Facing opposition and a potential no-confidence vote, Bayrou warns of a looming debt crisis, insisting that significant reforms are necessary for fiscal stability. Explain It To Me Like I'm 5: French Prime Minister François Bayrou wants to save money for the...

Europe's Anti-Money Laundering Authority (AMLA) has identified cryptocurrency as a major challenge in combating money laundering and terrorism financing, emphasizing the need for stringent oversight as the market is fragmented and exposed to risks. AMLA plans to supervise key crypto asset service providers by 2028, highlighting the importance of regulatory consistency across EU nations to ensure effective compliance from the outset. Explain It To Me Like I'm 5: Europe's new anti-money laundering watchdog is worried...