Six Belgian cities compete for culture

The UK government's strategy to reduce legal migration was influenced by the recent rise of Nigel Farage’s Reform UK party, prompting Prime Minister Sir Keir Starmer to adopt populist rhetoric. While addressing immigration concerns, Starmer faces challenges balancing a tough stance with the need to improve public services, as his proposals may not satisfy voters and could hinder Labour's core mission. Key reforms aim to shift focus towards higher-skilled migrants and improve integration, but long...

Volkswagen's CFO, Arno Antlitz, emphasized that the company's significant restructuring efforts are not sufficient, warning against the risk of complacency before achieving full transformation. Despite a recent deal to reduce production capacity and workforce in Germany, both Antlitz and VW brand CEO Thomas Schäfer acknowledged that much work remains to be done amid challenges such as the costly transition to electric vehicles and pressure from competition. They called for necessary structural reforms to enhance productivity...

Adam Smith's assertion that “Consumption is the sole end and purpose of all production” highlights the essential goal of both production and international trade. The article discusses how the structural excess savings in countries like China, Germany, and Japan are counterbalanced by the US's current account deficit, which reflects the paradox of thrift identified by Keynes, where needed spending may not occur naturally. This imbalance, characterized by surplus countries failing to invest their savings productively,...

The US is targeting a multibillion-dollar share of the UK's pork, poultry, rice, and seafood sectors to expand its trade agreement, as stated by Donald Trump's agriculture secretary, Brooke Rollins. While the recent deal offers $5 billion in opportunities, the initial agreement only covers $950 million in hormone-free beef and ethanol, raising concerns among British farmers about competition from lower-standard US imports. Rollins indicated that some US producers may adapt to UK standards, but British...

This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersOil prices reached a two-week high due to optimism about a potential trade war resolution between China and the US. China is advancing towards energy self-sufficiency and becoming an "electrostate," while the EU's plan to phase out Russian...

SummaryBrussels is preparing to implement capital controls and tariffs against Russia if Hungary vetoes the extension of EU sanctions linked to its war in Ukraine. The European Commission indicated that a substantial portion of the sanctions could be shifted to a different legal basis, requiring only a majority of EU countries for approval. Amid ongoing diplomatic efforts for peace, Hungary's Prime Minister Viktor Orbán has threatened to block sanctions unless all 27 member states agree...