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- EU institutions mount pressure for ambitious budget with new resources.
- US Senate advances key legislation to combat domestic terrorism
- Europe’s extreme summer temperatures may become the new normal, experts warn
- New donation area established to ensure safety for volunteers at Summerland thrift store
- David Hearn indicted for destruction of property at Washington Reflecting Pool
- Russia conducts drone operations against UK and Europe ahead of conflict
- Monaco issues arrest warrant for suspect in parcel bombing investigation
- Ex-Olympian indicted for felony charge over Washington Reflecting Pool damage
Business
Russia’s economic situation is deteriorating after two years of growth linked to a shift to a war economy, according to IMF Managing Director Kristalina Georgieva. Despite raising the 2026 growth forecast slightly, Georgieva warned that inflation and sanctions severely restrict long-term prospects.
James Murdoch has finalised a deal to acquire New York Magazine and the Vox Media Podcast Network for over £300 million, enhancing his media portfolio. The transaction includes Vox’s news site and popular podcasts, while CEO Jim Bankoff will continue to lead operations under Lupa Systems.
The EU’s trade deal with South America’s Mercosur bloc has begun provisional implementation after 25 years of negotiations. This agreement forms one of the world’s largest free trade areas, encompassing 720 million consumers and aiming to reduce tariffs on over 90% of bilateral trade.
Sir Keir Starmer, Britain’s prime minister, said he could strike a trade deal with Donald Trump and avoid punitive tariffs on the UK as he dismissed as “noises off” Elon Musk’s strident criticism of his leadership.
The La Muela City Council has approved a reduction in the IBI tax rate for…
“GDP growth slowed markedly in the summer when the new government began warning of tax hikes,” said Rob Wood, chief UK economist at Pantheon Macroeconomics.
“The “multiphase agreement” reportedly includes a truce, the release of Israeli hostages held by Hamas, and the freedom of Palestinian prisoners”
For the first time in three months, the UK economy grew, recording a slight expansion of 0.1% in November, according to official figures. This follows two consecutive months of economic contraction.
The United States saw a notable rise in inflation last month, driven by spikes in energy and food costs. According to the Labor Department, prices in December increased by 2.9% compared to the same period a year earlier, up from 2.7% in November.
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