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German state secretary leaves ministry for climate foundation it funds
The foundation’s supervisory board appointed Flasbarth as CEO on October 5, in a decision made public the following day.
Economy
Latest reporting and analysis on economy.
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Russia takes over assets of five European companies
Western governments and international legal experts have described the takeovers as unlawful expropriation.
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Germany and France move to ease EU 2035 combustion-engine ban
The joint paper, titled “Securing the future of the European automotive industry”, was published on October 16.
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Italy’s UniCredit wins ECB approval to take control of Germany’s Commerzbank
A full integration would create one of Europe’s largest cross-border banking combinations since the global financial crisis.
EU leaders back Zelensky over diesel deal but offer no new money
Leaders put their regret at Washington's sanctions waiver in writing, though Kyiv leaves Brussels without fresh funding decisions.
Costa takes over EU budget talks and looks to new Brussels taxes
Leaders spent more than five hours arguing in Brussels without moving, leaving the European Council president to redraw the 2028-2034 package himself.
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ECB policymakers lose patience with Lagarde’s silence on early exit
Frustration inside the central bank has grown as the president weighs the chairmanship of the World Economic Forum and prepares to launch her memoirs.
EU innovation funding rarely reaches the market
Around half of a €17 billion push for industrial leadership went to universities and research centres rather than to companies, the European Court of Auditors…
Denmark, Sweden and Finland reject softer rules for the EU carbon market
The three prime ministers have written to EU leaders on the eve of a summit at which the review of the emissions trading system is on the table.
Philip Morris calls for consistent EU rules as it highlights €343bn economic footprint
The figures include direct, indirect and induced economic effects calculated through economic modelling.
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Meloni warns Trump’s Russian diesel deal risks legitimising Moscow
Italy’s prime minister says the agreement could weaken Western sanctions and help finance Russia’s war in Ukraine, arguing that the latest fuel price surge is…
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US proposes fees on Spanish ships and import curbs over port bans
Washington's maritime regulator has found that Spain shut American vessels out of its ports, and wants olive oil, cosmetics and ceramics restricted in response.
Denmark says US has no preferential rights over Greenland’s raw materials
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Europe’s mass-market carmakers face ‘enormous pressure’, Volkswagen chief warns
These companies, he said, face growing pressure to build affordable electric vehicles while keeping costs under control.
Brussels proposes delay to methane rules for gas and oil importers
The postponement lands a day before EU leaders meet to discuss soaring energy costs, and still needs the backing of the European Parliament and member states.
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Trump announces oil push in ‘our new and beautiful Greenland’
President Trump has announced plans for significant oil and mineral exploration in Greenland, citing potential reserves greater than almost anywhere else globally.
ECB says AI is weakening workers’ bargaining power as Europe falls behind
Philip Lane told a Dublin summit that hiring plans were muted and that Europe hosted just 5 per cent of the world's AI computing capacity.
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Prosecutors say Israeli firm had access to Polish Pegasus data
There have been allegations in several countries that it has been used in surveillance against political opponents of sitting governments.
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Polish minister caught citing fake story about Russian bots’ demise after Ukrainian attack
After the attack on Yandex, graphics with charts appeared on the internet suggesting a decline in the activity of Russian bots.
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Audi and parent company Volkswagen see big drop in sales
Volkswagen Group deliveries there plunged 38.5 per cent in the third quarter and are down 30.2 per cent year-to-date.
Nobel economics prize rewards the theory behind ECB rate decisions
Robert E. Hall and Michael Woodford have won for work that gave central banks their models for handling energy shocks and inflation.
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Spain faces hunt for assets in US as renewables rulings mount
Thirteen American court decisions now back investors chasing compensation for Madrid's retroactive cuts to green energy subsidies, and creditors are moving from…
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Tusk’s parliamentary majority moves to depose head of Polish central bank
Heads of the NBP in Poland are nominated by the head of state with that nomination having to be approved by parliament.
Brussels tells capitals to clear airport queues before Christmas
Magnus Brunner has defended the EU's digital border system after travellers waited up to five hours at Brussels Airport, saying member states agreed to it and had…
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EU buys record volumes of Russian Arctic LNG in final year before import ban
Yamal cargoes reached EU terminals roughly every 1.6 days in the first nine months of 2026, at an estimated cost of €7.88 billion.
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Irish presidency proposes 8 per cent cut to Commission’s 2028-2034 EU budget plan
The proposal sets total commitments at roughly €1.62 trillion in 2025 prices, or about €1.83 trillion in current prices.
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German transport minister calls EU combustion-engine ban a ‘big mistake’
“The federal government is united in jointly advocating in Brussels for a reversal of the ban,” he said.
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Gas network operators warn of 15 per cent EU shortfall in a severe winter
EU storage stood at 72 per cent on October 1, against 83 per cent a year earlier.
Brussels rejects Italian and Greek calls to loosen EU fiscal rules
Economy Commissioner Valdis Dombrovskis warned that piling new exemptions on to the budget framework would erode the credibility of the rules themselves.
Eurogroup opens race to replace Schnabel on ECB board
Eurozone finance ministers have set an end-of-October deadline for nominations, putting the first of three senior European Central Bank vacancies formally in play.