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The most recent discussions they had on the subject, he added, were in early April in Frankfurt, “to discuss with her the leadership transition [at WEF] with myself remaining chair until she was ready to take over, at the latest, early 2027.” He added that he had planned for “several years” for Lagarde to succeed him.An ECB spokesperson contradicted Schwab, saying that “President Lagarde has always been fully committed to deliver on her mission and is determined to complete her term.” Lagarde is a regular at the Davos meetings in January. She joined the WEF’s board of trustees in 2019…

Operated by Lu Xin, AI Strategist defeated “Silk Artisan” in the third round of the opening match before overpowering “Energy Guardian” in the final held on Sunday. All competing robots were Unitree Robotics’ G1 models, each standing 1.32 metres tall.Each match consisted of three rounds lasting two minutes, with points awarded for precise strikes — one point for arm hits, three for leg strikes, and penalties applied for knockdowns or failure to recover within eight seconds.

The European Commission plans to make it easier for banks to invest in resold debt, known as “securitization,” under draft proposals to revise rules for the practice seen by POLITICO. The Commission will publish its revision of the EU’s securitization rules in a legislative package on June 17. This will include changes to the Capital Requirements Regulation, the Securitization Regulation, and two secondary laws, the Liquidity Coverage Requirement Delegated Act and the Solvency II Delegated Act. Under the draft plans here and here, the EU executive intends to change how capital requirements for banks investing in securitization are calculated to…

The humanitarian sector is facing critical challenges following US cuts to development funding amid escalating global conflicts, the Secretary General of the Danish Refugee Council (DRC) has told Euronews. On 20 January, Donald Trump announced a pause on all US foreign development assistance programs to conduct a comprehensive review. By 10 March, 83% of USAID programmes had been terminated, creating a US $60 billion (around €55.3 billion) funding gap. Slente warned that unless the US restores its assistance, the sector faces an “extremely critical situation.” “We are going to see a rising population with all kinds of elements of fragility, hunger, marginalisation, no access to…

Islam Abu Taeima, a 40-year-old mother of five, says hunger has left her no choice but to scour trash piles in Gaza City. “We’re dying of hunger,” she said. Her family is one of more than two million Palestinians at risk of famine after 19 months of war and nearly three months of Israel’s blockade.Despite recent aid allowed in, most of it has failed to reach the people. Once a UN worker, Islam now boils stale bread and leftovers to feed her children. “Starvation is the biggest disease,” she says.

Yet he cautioned that the findings also reveal “the weakness of our carbon sink as a consequence of the deteriorating state of our forest,” which “is worrying and needs to be addressed.” On its renewable power goals — which require installing energy sources like wind and solar — the EU is on pace to generate 41 percent of its energy from renewable sources by 2030, just shy of the 42.5 percent goal.  The assessment also calls on countries to better prepare and adapt society for climate change’s inevitable ramifications. Only a handful of countries are addressing increasing water scarcity, for…

Published on 28/05/2025 – 9:47 GMT+2The challenges reflect broader ones faced by a Chinese economy hobbled by a prolonged real estate crisis that has hurt consumer spending. Beijing also faces growing pushback from Europe and the United States over surging exports.“The picture has deteriorated across many key metrics,” the European Union Chamber of Commerce in China said in the introduction to its Business Confidence Survey 2025.The same forces that are driving up Chinese exports are depressing the business outlook in the Chinese market. Chinese companies, often enticed by government subsidies, have invested so much in targeted industries such as electric…

“I may say unpleasant things, but I tell the truth […] And he may sometimes say very nice things, but those things are lies,” says Ukrainian leader. Listen AI generated Text-to-speech Share

A bill rapidly making its way through the United States Senate and gathering impressive bipartisan support threatens to wreak untold havoc on Russia’s economy in a bid to force Vladimir Putin into “good faith negotiations for a lasting peace in Ukraine”.But the concerted push, jointly promoted by Lindsey Graham, a Republican from South Carolina, and Richard Blumenthal, a Democrat from Connecticut, also risks devastation for roughly half the European Union.”Our legislation will isolate Russia – putting it on a trade island by imposing stiff tariffs on other countries that support these atrocities,” Graham and Blumenthal said last week as they announced the…

By Tina Teng Published on 28/05/2025 – 7:29 GMT+2European stock markets extended their rally for a second consecutive trading day on Tuesday as concerns over escalating US-EU trade tensions eased. Germany’s DAX rose 0.82% to 24,226.49, marking a fresh record high, while the Euro Stoxx 600 climbed 0.33% to 552.33, edging within 0.2% of its March peak.US President Donald Trump expressed optimism toward the trade negotiations. “I have just been informed that the EU has called to quickly establish meeting dates,” he wrote in the Truth Social, “This is a positive event, and I hope that they will, FINALLY, like my…