This article discusses the EU's response to U.S. trade demands, with negotiators pressing for tariff reductions to avoid a 20% duty on EU products. Austria's foreign minister supports increased military spending despite the country's neutrality, emphasizing cooperation within the EU for defense capabilities, particularly in light of geopolitical tensions. The Dutch justice minister calls for vigilance against corruption in military procurement amid a broader investigation into bribery related to defense contracts as Europe ramps up...

SummaryEuropean solar panel manufacturers have faced significant challenges due to a surplus of cheap Chinese panels, leading to factory closures and bankruptcies. However, a renewed focus on ethical sourcing and local procurement, especially in light of potential human rights abuses in China's Xinjiang region, is prompting European developers to consider domestic suppliers. The EU's Net Zero Industry Act aims to enhance supply chain resilience and may create a market for domestic products, despite the ongoing...

As the European automotive market contracts and competition rises in China, Volkswagen has highlighted potential growth in the US, but Donald Trump's tariffs, notably a 25% import levy, have hindered this optimism. Analysts predict a significant reduction in US car sales, with up to 1.2 million fewer vehicles expected next year, impacting not only VW but also other German automakers, who may face costs between $2 billion and $4 billion. Executives from major carmakers, including...

Friedrich Merz, the new German chancellor, pledged to defend NATO territory during the inauguration of Germany's first permanently stationed military brigade abroad since WWII, based in Lithuania. This deployment, comprising around 400 soldiers with plans to reach 5,000 by 2027, was initiated in response to heightened security concerns following Russia's invasion of Ukraine. Merz, emphasizing Germany's commitment to NATO and European defense, aims to enhance the military's capabilities significantly, marking a significant shift in Germany's...

Spain’s grid operator, Red Eléctrica, has criticized large power plants for failing to regulate the electricity system before a significant blackout that affected 60 million people. Beatriz Corredor, chair of Redeia, stated that certain gas, nuclear, and hydroelectric facilities did not meet voltage control requirements, while plant owners attributed the outage to insufficient grid investment and a lack of demand stimulation. The debate continues as experts identify voltage surges as a key factor, with calls...

SummaryThe European Central Bank (ECB) has warned that droughts could lead to a nearly 15% reduction in economic output in the Eurozone, particularly affecting agriculture, manufacturing, mining, and construction sectors with €1.3 trillion in loans at risk. ECB executive board member Frank Elderson highlighted the severe financial risks posed by climate change, noting that farming could see up to 30% of output endangered in southern Europe. Amidst political backlash against green policies, debates continue on...