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Published on 12/10/2026 – 12:29 GMT+2•Updated 12:31 American economists Robert Hall and Michael Woodford were awarded the Nobel economics prize on Monday for their work on how monetary and fiscal policy can help stabilise fluctuations in the economy. “The laureates’ work has provided us with a stable theoretical foundation for the models that are now used by central banks and governments around the world,” the jury at the Royal Swedish Academy of Sciences said in a statement. “With them, we are better equipped to deal with shocks in the economy, such as energy crises or sudden changes in how much…

He emphasized the importance of military mobility and “moving things from the west to the east,” citing discussions with EU Defense Commissioner Andrius Kubilius. European officials warn that Russia could be ready to attack a NATO country by the end of the decade. Whitaker did not announce any decisions to relocate or withdraw American forces. He nevertheless made clear that Washington is reassessing its global commitments to avoid spreading its military resources too thin. “Superpowers and great global powers have mostly had challenges when they get overextended,” Whitaker said, adding that U.S. President Donald Trump wants allies to become “capable…

A major fire has devastated the Marché des Enfants Rouges in central Paris, destroying the historic covered market in the early hours of Monday. Located in the Marais district in the capital’s 3rd arrondissement, the market dates back to 1615 and is the oldest covered food market in Paris. It is a popular destination for street food, fresh produce and local traders. Around 150 firefighters and some 50 vehicles were mobilised to tackle the blaze, which was reported at 04:15 local time. Part of the market’s metal structure collapsed during the fire.

A senior UAE official called for stronger Gulf security and defence cooperation on Monday as regional governments backed Saudi Arabia following Houthi missile attacks that killed 14 people at Riyadh’s international airport over the weekend. Anwar Gargash, diplomatic adviser to the UAE president, said attacks on Saudi Arabia undermined the security of the Emirates and every other Gulf state. Writing on X, he warned that “we are all targeted” and said failures in collective defence had encouraged attacks on the region. “Gulf security is a shared responsibility that allows no room for complacency or delay,” he said. Saturday’s attack on…

Moving abroad from France could soon cost the richest holders of digital assets more, as lawmakers seek to bring Bitcoin and other crypto into a levy already paid by relocating equity investors. On Thursday, the National Assembly’s finance committee, the cross-party panel that vets budget bills before the full lower house debates them, voted to extend France’s exit tax to crypto-assets from 1 January 2027. The current levy taxes unrealised gains when people who have lived in France for at least six of the past ten years move abroad with shares and other securities cumulatively worth more than €800,000. The…

Modern world got you down? We can relate. Phone-free retreats are on the rise as more and more of us want to switch off for the sake of our mental health. If you’re looking for a more permanent off-grid solution – and have £350,000 (€414,000) to spare – you might just want to take a look at this remote Scottish island that just went up for sale. Found just off the west coast of Shetland, Hildasay Island spans some 110 hectares and is only accessible by boat. While the island was once occupied by a small community in the 19th…

Ukraine’s FM: Russia’s war budget makes the case for using frozen assets now – POLITICO Skip to main content

Focused faces, the buzz of propellers and drones weaving through an obstacle course in a school hall. At the “Sietuvus” Progymnasium in Vilnius, drones have become part of everyday school life, with children aged six to 14 attending so-called “drone classes.” Alongside maths, Lithuanian and physical education, pupils learn to build and programme their own drones. What may seem an unusual addition to the curriculum comes at a time when drones are increasingly associated with warfare and security threats. Recent incidents, including an attempted drone attack at Leipzig/Halle Airport, have highlighted the potential risks posed by the technology. Drones have…

Citroën has unveiled a new electric concept inspired by its legendary 2CV, as the French carmaker looks to revive one of its most recognisable models for a new generation. Presented in Paris on October 12, 2026, the concept reimagines the original Deux Chevaux with minimalist styling, a spacious interior and modern electric technology. Measuring 3.76 metres in length, the vehicle aims to combine the simplicity and affordability of the original with the demands of contemporary mobility. Although still a concept vehicle, Citroën says it intends to bring the model into production within the next two years. The car is expected…

French defence company Thales SA will establish a maintenance and operational support base in Japan for military equipment, Nikkei reported on Monday, but neither an opening date nor a location has been revealed. Chairman and chief executive Patrice Caine told the Nikkei business daily that the base “will mark a milestone toward Thales’s long-term engagement in Japan”. The facility could be the first in Japan set up by a foreign defence company to maintain military equipment and support its operation, the newspaper reported. The new maintenance base will check the condition of military equipment and diagnose faults, according to Nikkei.…