Spring statement latest: Bank of England chief calls for economies to ‘come together’ amid Trump’s tariff war

The EU is urging China to ease export restrictions on rare earth elements, which are critical for the car industry, as production risks halting due to shortages caused by China's new licensing system. European trade commissioner Maroš Šefčovič raised concerns with Chinese commerce minister Wang Wentao, noting the severe impact on manufacturers like Ford. China, which processes 90% of rare earth magnets, is facing pressure to clarify export data, while EU officials emphasize the need...

The European Commission has approved Bulgaria's entry into the Eurozone, set for 2026, making it the 21st country to adopt the euro. Prime Minister Rosen Zhelyazkov emphasized that this decision, following years of political instability and the fulfillment of inflation criteria, will enhance economic stability and investment fundamentals. Despite opposition from populist groups and calls for a referendum, EU officials believe Bulgaria's accession signifies a strengthening of both the nation’s and the Eurozone's economic standing....

Russia plans to deploy 10,000 troops to the separatist Transnistria region bordering Ukraine, with the aim of installing a pro-Kremlin government in Moldova ahead of its parliamentary elections. Moldova's Prime Minister Dorin Recean accused Moscow of undermining Moldovan democracy through propaganda and financial influence, expending 1% of Moldova’s GDP on such efforts. He emphasized the need to bolster Moldova's defenses while pursuing EU membership, highlighting the strategic military implications of increased Russian presence near NATO...

Germany's new government plans to implement a €46bn corporate tax break package to stimulate the economy, with Finance Minister Lars Klingbeil set to present the measures aimed at enhancing competitiveness and encouraging investment by summer. Key incentives include allowing companies to deduct 30% of new machinery costs from taxes and gradually reducing the corporate tax rate from 15% to 10% by 2028. This initiative is part of a broader strategy to modernize infrastructure and support...

This article discusses recent political developments in Europe, including the fall of the Dutch government led by far-right leader Geert Wilders, leaving Prime Minister Dick Schoof as a caretaker. It also highlights the escalating trade tensions between the EU and the US, with a significant tariff increase on steel and aluminum announced by the US, coinciding with trade negotiations in Paris, where EU officials express concerns over the impact on ongoing talks. Additionally, EU defense...

Russia's war on Ukraine has highlighted the inefficiency of using expensive missiles against inexpensive drones, prompting European military leaders to seek new defense technologies. Start-ups like Frankenburg Technologies and Nordic Air Defence are emerging to create affordable anti-drone systems, aiming to reduce costs significantly while increasing production capacity. With the urgency of evolving warfare and the looming threat from Russia, there is a call for heightened defense spending and private investment to support innovative solutions...