More than 1,600 reported killed, as UN aid operation supports rescue efforts

Brussels plans retaliatory tariffs on Boeing aircraft, cars, and bourbon, targeting €72bn of US imports if trade talks with Washington fail, following President Trump's declaration of a 30% tariff on the EU. The European Commission has drafted a new list of tariffs, which will require approval from EU countries, as negotiations continue to bridge the gap between both sides. Explain It To Me Like I'm 5: Brussels wants to charge extra money on things like...

The Bank of England has delayed the implementation of key Basel III provisions from 2027 to 2028, allowing more time for the US to determine its approach, amid ongoing uncertainty following the 2008 financial crisis. Additionally, it has eased capital requirements for smaller banks, raising the asset threshold for MREL compliance and facilitating competition in the mortgage market. Explain It To Me Like I'm 5: The Bank of England has decided to give banks more...

The EU's upcoming €1tn budget will prioritize aid to eastern states near Russia, as revealed in a leaked plan. Meanwhile, concerns arise over a new EU-Israel aid deal for Gaza, with former UN coordinator Sigrid Kaag warning it risks becoming a false hope without clear details, and legal challenges to the proposed ban on Russian gas raise questions about its viability within EU law. Explain It To Me Like I'm 5: The article discusses the...

One of Hungary’s wealthiest individuals, István Tiborcz, the son-in-law of Prime Minister Viktor Orbán, faces scrutiny over his rapid wealth accumulation amid allegations of cronyism and political favoritism. Despite denying political involvement and claiming his business success is independent, Tiborcz's lucrative ventures, particularly in real estate and tourism, have drawn parallels to U.S. figures like Jared Kushner, reflecting a growing discontent among Hungarians over elite wealth. Explain It To Me Like I'm 5: Hungarian Businessman...

The US commerce department has initiated two national security investigations that may result in tariffs on drone imports and polysilicon, a key material for chips and solar panels, due to concerns about foreign subsidies and trade practices. These probes continue the ongoing trade tensions under President Trump, who has previously applied significant tariffs on various imports, including steel and aluminum. Explain It To Me Like I'm 5: The US government is looking into whether to...

This article discusses the recent chaotic developments in U.S. trade under President Trump, particularly surrounding tariff threats and their implications. It highlights reader participation in predicting the number of tariff letters sent, discusses Trump's coercive tactics towards Brazil's President Lula, and notes the unpredictability of Trump's decisions leading to potential political backlash for both leaders. Explain It To Me Like I'm 5: Last week, President Trump sent a lot of letters threatening tariffs on other...