Pete Hegseth nominee to be Secretary of Defense

For three generations, the Liebig family has built double-decker railcars in Görlitz, Germany, but the factory will soon produce components for military vehicles after defense contractor KNDS took over from Alstom, which shut down operations to cut costs. While KNDS plans to retain about 350 employees, Carsten Liebig, a retired train maker, laments the shift towards arms production amid Germany's deindustrialization, as the country experiences a surge in defense spending and a shift in skilled...

FT Alphaville has noted a lack of coverage on Eurostat compared to the Office for National Statistics, particularly regarding the UK's Labour Force Survey (LFS), which faced critical response rate drops, rendering it unreliable. Although Eurostat's quality report on the EU LFS from 2020 highlighted some issues, updates have not been provided since March 2022, and future reports for 2023 and 2024 remain unspecified. Consequently, Alphaville has decided to refrain from further coverage of Eurostat...

European pharmaceutical leaders, including Novartis CEO Vas Narasimhan and Sanofi's Paul Hudson, have urged the EU to raise drug prices to align more closely with US levels to foster innovation. In a letter to the Financial Times, they argue that current lower prices in Europe hinder market growth and discourage investment, noting that 30% of new medicines in the US are not available in Europe within two years. They warn that without urgent action, European...

The sentencing of opponents and public figures to up to 66 years in prison underscores President Kais Saied's efforts to dismantle Tunisia's political achievements. Once a symbol of democracy after the Arab Spring, Tunisia has seen Saied reverse its progress since his self-coup in 2021, impacting civil liberties and various sectors such as civil society, business, and the media, particularly following his re-election amid an opposition-free environment. Notably, even officials from the Swimming Federation faced...

The European Commission and UK government are progressing towards a defence deal that may enhance opportunities for British arms firms within a €150bn EU fund, with both parties asserting that this agreement is independent of fishing rights. This EU-UK defence pact is expected to be a focal point at the upcoming post-Brexit summit in May, though concerns remain regarding potential links between security arrangements and a separate fisheries agreement. Despite these discussions, the European Commission...

SummarySpain will meet NATO’s 2% GDP defense spending target this year, as announced by Prime Minister Pedro Sánchez, following a €10bn defense investment plan. Critics question the budget's calculations, noting significant allocations for cybersecurity and climate resilience. While Sánchez blames previous governments for past failures, his coalition partner Sumar denounces the plan as excessive, which will not require parliamentary approval and primarily fund Spanish companies, focusing on improving military personnel conditions and developing new capabilities....