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

SummaryBrussels plans to urge EU countries to reduce water usage by at least 10% by 2030 due to increasing droughts and dwindling groundwater reserves, marking the European Commission's first water efficiency target. The proposal, set to be presented next month, aims to enhance water resilience and encourages investment in infrastructure, as 25% of EU water is lost through leaks, with some countries like Bulgaria losing up to 60%. The plan is non-mandatory, allowing member states...

US stocks surged following President Trump's positive remarks on trade talks with the EU, coinciding with the postponement of proposed 50% tariffs. The S&P 500 climbed 1.6%, led by consumer cyclicals and tech companies, while consumer confidence rebounded in May after five months of decline. Trump's engagement with the EU, which included a call for quick meetings, and the anticipation of a trade deal contributed to market optimism, with analysts suggesting the tariff threats may...

The article examines the actual costs associated with the European Banking Authority's (EBA) operations, revealing specific expenditures on contracts for services such as data provision and staff training. Notably, the EBA spends €14,310 on coffee supplies, which equates to about sixty euros per employee annually, indicating a potential lack of investment in employee welfare. This underfunding raises concerns about the EBA's capacity to perform effectively, especially as it faces increasing responsibilities and resource pressures in...

Bulgaria aims to join the Eurozone in 2026 after overcoming previous delays due to political instability and inflation exceeding membership targets. With inflation now at 3.5%, Prime Minister Rosen Zhelyazkov expects a positive convergence report from the European Commission, confirming Bulgaria's eligibility. Despite concerns about potential price shocks and the impact on savings, Zhelyazkov reassured citizens of the state's commitment to protect their interests, while President Rumen Radev expressed doubts about the government's readiness for...

The European Central Bank should pause interest rate cuts until at least September, according to hawkish policymaker Robert Holzmann, who argues that further cuts could be risky amid the EU-US trade tensions. Holzmann sees no reason for rate reductions at the upcoming meetings, suggesting that uncertainty, rather than monetary policy, is stalling economic activity in the Eurozone. He believes that Germany's planned €1tn spending could stimulate growth, noting that he is not isolated in his...

The European Commission is investigating major adult websites—Pornhub, Stripchat, XNXX, and XVideos—for inadequate protections for minors under the Digital Services Act, which aims to ensure online safety for European citizens. The commission found that these platforms lack effective age verification and sufficient measures to safeguard minors' privacy and security. Concurrently, EU member states are cracking down on smaller pornographic platforms, and an EU-wide age-verification app is being developed to help confirm users' ages without compromising...