Yellen says $3T of fresh capital is needed annually to fight climate change – POLITICO

The UK, under Prime Minister Sir Keir Starmer, aims to enhance its military readiness amid rising threats from Russia, but questions remain about the government's ability to deliver on its ambitious defense rhetoric. Recent strategic reviews propose a £15bn investment in nuclear capabilities and a focus on domestic military production, yet the planned increase in force numbers and defense spending may fall short of transformative goals, risking the UK's influence within NATO. Experts warn that...

A Berlin court ruled that Germany unlawfully turned away asylum seekers at the border without adequate assessment, undermining Chancellor Friedrich Merz's immigration policy initiated after a violent incident involving an Afghan asylum seeker. The court's decision involved three Somali asylum seekers who, despite expressing intent to apply for asylum, were sent back to Poland, mandating Germany to fully assess their claims per EU regulations. Merz's efforts to tighten immigration come amid rising support for the...

The EU has imposed restrictions on imports of Chinese medical devices in response to allegations of discrimination against foreign manufacturers in public contract bids, requiring exclusion of Chinese bidders from contracts over €5mn for five years. This marks the first application of the International Procurement Instrument, aimed at opening overseas markets, as the EU seeks to address trade tensions exacerbated by China's "Made in China" policy, which prioritizes domestic suppliers. While the EU is open...

The European Commission has approved a joint venture among BAE Systems (UK), Leonardo (Italy), and the Japan Aircraft Industrial Enhancement Co for the production of a next-generation fighter jet, responding to concerns over reliance on US defense equipment. This initiative, part of the Global Combat Air Programme, aims to have aircraft operational by 2035, enhancing defense capabilities against rising threats from Russia and China. The UK's recent defense plan includes substantial investments in modernization, highlighting...

Poland's recent presidential election, resulting in the victory of rightwing nationalist Karol Nawrocki, poses a significant threat to the EU's trade ambitions and jeopardizes billions in EU funds for Warsaw, according to officials. Nawrocki's election could stall necessary reforms for accessing EU funds and may align Poland with other Eurosceptic leaders, undermining the pro-EU government led by Donald Tusk. With Nawrocki's ability to veto legislation and his opposition to EU policies, Poland's commitment to judicial...

The EU’s climate advisory board has advised against using international carbon credits to meet climate targets, stating it could weaken domestic emission reduction efforts. The board recommends aiming for a 90-95% reduction in greenhouse gas emissions by 2040 compared to 1990 levels, emphasizing the need for rapid and significant cuts. This stance conflicts with the German government, which supports including carbon offsets, while France seeks guarantees for businesses, raising concerns about the bloc's overall climate...