Author: staff
In its Annual Economic Report, published on Sunday, the Bank for International Settlements (BIS), known as the central bank for central banks, warned that the enormous spending on AI is accumulating financial vulnerabilities that could amplify any future shock and spread from markets into the wider economy. Presenting the findings, BIS general manager Pablo Hernández de Cos said the message was one of “urgency”, with policymakers urged to act before any reversal makes the eventual adjustment more painful. At the core of the warning is the scale of the spending, despite massive investment having supported global growth over the past…
“Burnham won’t solve your problems, because Labour cannot solve your problems,” Farage has said. “His plan for government is to act as continuity Starmer, and hope the rest of us are too stupid to notice.” There are early attempts to chip away at his right to govern. Reform has already called for an immediate general election — a prospect Badenoch’s Tories, polling considerably worse — are resisting. Reform insiders hope he’ll run into the same fundamental problems that hobbled Starmer in office. “He’ll have a fresh look, but he won’t be able to deliver anything and will become associated with the Labour…
With the resignation of Keir Starmer, the UK is set to have its seventh prime minister in 10 years. This is a far cry from a country that was once touted for its ability to produce stable and long-lasting governments compared to other European nations, due to its first-past-the-post voting system, the principle of parliamentary sovereignty and its evolutionary tradition of governance. Since 2016, the political turmoil and polarisation that followed the Brexit referendum, frequent scandals in the previous right-wing Conservative government, and an ailing economy have meant that not a single British prime minister has managed to survive a…
Personal income tax and social security systems differ significantly across Europe, and so does the overall burden on workers’ pay. What matters most to workers, however, is how much of their salary they actually take home after taxes and compulsory deductions. To show this, Euronews Business used Eurostat data to calculate net annual earnings as a share of gross pay, producing a take-home ratio. From this, it calculated the share of gross earnings going to taxes and other deductions. In a few cases, the result is negative, meaning workers take home more than their gross earnings, due to family allowances…
Published on 29/06/2026 – 8:00 GMT+2•Updated 8:07 It’s not just the scenery that makes a trip memorable – for many travellers, it’s the people they meet along the way. New research has found that almost half of Europeans believe travel is the most effective way to start new personal relationships, as time away from daily routines leaves people feeling more open to new experiences – and new connections. The study, by travel platform WeRoad, collected information from 5,000 individuals in Spain, Italy, France, Germany, and the United Kingdom. According to the data, 45% said they think travel is the best…
Published on 29/06/2026 – 10:58 GMT+2 It’s bad, it’s bad, it’s really really bad… But it’s breaking all the records. Antoine Fuqua’s Michael Jackson biopic has become the highest-grossing biopic in cinema history, grossing $977.4m worldwide and overtaking Christopher Nolan’s Oscar-winning Oppenheimer. Oppenheimer grossed $975.8m worldwide, according to Box Office Mojo, and went on to win seven Academy Awards, including Best Picture, Best Director, Best Actor and Best Supporting Actor. Earlier this month, Michael overtook Bohemian Rhapsody as the top-grossing music biopic. Now in its 10th week in cinemas, the $1bn mark seems all but inevitable. Released in April 2026,…
Market liquidity needs to be restored. With the current EU ETS parameters, the supply of CO2 allowances on the primary market will end around 2040. The Market Stability Reserve (MSR) will be empty by that time and will not be able to mitigate supply constraints, which will probably occur due to economic recovery after the end of the war in Ukraine, the increase in EU defence capabilities and insufficient supply of decarbonized gases to replace natural gas. Therefore, to prevent a market squeeze, the EU ETS revision should, in the first place, substantially reform the MSR parameters. The already presented…
In the middle of a complicated transatlantic dialogue, the United States celebrated its 250th anniversary of independence in Brussels’ Parc du Cinquantenaire on Sunday, located right next to EU institutions. Nearly 10,000 guests enjoyed a full day of activities and performances that concluded with a drone and fireworks display. Many US military personnel based in the Belgian capital were also in attendance. Named “250 Years of Independence: Building Our Future Together,” the lavish celebration included various “American activities” such as baseball, a mechanical bull and line dancing. The festivities also featured music and a ceremonial flyover. The US Ambassador to…
By Euronews Published on 29/06/2026 – 9:46 GMT+2•Updated 10:03 At least one person has been killed and another seriously wounded in a shooting at a popular entertainment area in California that has been the site of a World Cup “fan zone,” police said. There were no football matches being screened at the time of the shooting on Sunday. “One victim was pronounced deceased on scene. The second victim was transported to a local hospital with life-threatening injuries,” the San Jose police department said in a post on X. “This incident is being investigated as a homicide. Several surrounding streets are closed…
Published on 29/06/2026 – 9:58 GMT+2•Updated 10:09 The week is off to a difficult start for train travellers in Spain. Renfe has been forced to cancel a total of 320 services this Monday 29 June due to the strike called by the Railway Union (SF), a stoppage that comes just as many workers begin their summer holidays. Despite the strike call, the minimum services set by the Ministry of Transport will ensure much of the operation goes ahead. On High-Speed and Long-Distance routes, 262 trains will run, equivalent to 73% of normal capacity. On Medium-Distance services, 420 trains will be…