Author: WTX Business Team

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Europe’s firms fall far behind in the race to create big tech The Wall Street Journal reports that the big tech industry is growing – but Europe is falling behind. The continent lacks “homegrown alternatives to the likes of Google, Amazon or Meta” and notes that Apple’s market value is bigger than the entire German stock market. “The continent’s inability to create more big technology firms is seen as one of its biggest challenges and…

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Fiscal concerns put pressure on dollar and bond market Treasury yields recede from their morning highs, but still inch higher in the long end, as the U.S. budget deficit emerges as a top concern in Wall Street. After Moody’s downgraded the U.S. debt and Congress advanced a bill widely expected to increase the country’s borrowing needs, investors sold off Treasurys and the dollar. The mood improved during the session, to start a week relatively light…

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We are sorry to inform you that Brexit is back Ongoing talks between the UK and the EU will come to a head at a summit in London on Monday, as the government seeks a post-Brexit “reset” of relations. The talks have come about as part of a routine five year review of the UK-EU trade and cooperation agreement, though they have taken on new significance as Labour seeks to strengthen trade and economic ties…

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Post-Brexit reset talks with Brussels stall over fishing and youth mobility The FT leads with the preparations for a post-Brexit “reset” of relations between the UK and the EU were thrown into turmoil on Wednesday after EU member states demanded further concessions from London over fishing rights and youth mobility. With only five days until an EU-UK summit in London, EU diplomats rejected European Commission attempts to bridge gaps between the two sides that have…

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Beijing fears over UK-US trade accord cloud London’s bid to revive China ties FT says China has criticised a trade deal between the UK and US that could be used to squeeze Chinese products out of British supply chains, complicating London’s efforts to rebuild relations with Beijing. The trade deal the US sealed with the UK last week, which includes strict security requirements for Britain’s steel and pharmaceuticals industries, was the Trump administration’s first since…

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What Putin wants—and how Europe should thwart him The Economist says “Putin’s war aims have swollen to justify Russia’s losses. What began as a special military operation next door has become Russia’s existential struggle against distant enemies. This is a profound shift. It means Ukraine’s future depends on Mr Putin’s ambitions more than President Donald Trump’s theatrical diplomacy. It also means that many Europeans are complacent about the threat Russia poses—and that they misunderstand how…

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China and US call truce in trade war with deal to slash punishing tariffs The FT reports that the US and China have agreed to lower tariffs for the next 90 days in a major de-escalation in the tariff war that is threatening to cut off trade between the world’s two largest economies. Starmer’s crackdown on immigration echoes Brexit vow to ‘take back control UK Prime Minister Sir Keir Starmer has announced a migration crackdown…

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The Taiwan test Relations between America and China are at a low ebb. Tariffs of well over 100% on both sides have severed trade. Each is striving to dominate 21st-century technologies such as artificial intelligence (AI). A massive military build-up is under way. In the previous cold war such rivalries came to a head over flashpoints like the Berlin airlift and the Cuban missile crisis. Today American resolve is likely to be tested over Taiwan—and…

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Trump ditches Waltz after Maga wrath builds against national security adviser Donald Trump has tapped secretary of state Marco Rubio to be interim national security adviser after firing Mike Waltz and his deputy following a scandal over the use of a private messaging app to discuss military plans. Trump announced the move on Truth Social on Thursday afternoon, saying Waltz would be nominated to serve as US ambassador to the UN, keeping a prominent role…

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Trump trade war distorts US economy as banks win and consumer mood dims The US economy contracted by an annualised 0.3 per cent over the first quarter, as companies in the world’s largest economy responded to Donald Trump’s trade war by rushing to import goods. The fall in the GDP reading — the first since 2022 — was worse than economists’ most recent forecasts and compared with the 2.4 per cent rise for the fourth…

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Mark Carney’s Liberals win pivotal Canadian election Mark Carney has won Canada’s election after a campaign dominated by the country’s relationship with the US under Donald Trump. Carney’s Liberal party was on track to win the largest number of seats and the right to form a government. But it was still unclear whether it would be able to secure a parliamentary majority as counting continued. The Liberals capitalised on a patriotic surge in the face…

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