Vouzela wildfire comes under control as Portugal endures record fire spell
More than 1,000 firefighters stayed on the ground for mopping-up and surveillance, tackling any flare-ups.
Economy
Latest reporting and analysis on economy.
Porsche announces up to 4,000 additional job cuts amid industry pressures
The company, part of the struggling Volkswagen Group, employs around 40,000 people worldwide, with the majority based in Germany.
OPEC+ raises oil output for third month as Hormuz shipping recovers
The group has been unwinding a cut of 1.65 million barrels a day agreed in 2023, when the alliance still included the United Arab Emirates.
Von der Leyen opens EU market to Armenia in bid to counter Russian influence
Both Brussels and Moscow are explicitly linking their trade measures on Armenia as political tools.
Brussels and EIB channel emissions revenue into energy projects across 11 EU states
The latest Modernisation Fund payout takes the total raised from the bloc's carbon market since 2021 to more than €23 billion, with Romania, Hungary and the Czech…
Germany’s net investment has almost ground to a halt
McKinsey’s 65-page study shows that Germany is investing almost nothing in additional production capacity.
Google loses final appeal against record €4.1 billion EU antitrust fine over Android practices
The company expressed disappointment but has not yet detailed next steps.
EU tightens steel safeguards and parcel rules to address its trade imbalance with China
Brussels has framed the package as essential for the EU's open strategic autonomy in an era of heightened geopolitical and economic competition.
Germany’s energy-hungry small firms struggle with green shift
Germany's small firms are facing challenges in the shift to carbon-neutral production, grappling with high energy costs and insufficient electricity supply for electrification…
Costa hails EU-US trade deal as European duties on US goods scrapped
The European Commission has said the removal of EU duties would save importers and consumers around €5 billion a year.
Ex-Commissioner Oettinger criticises EC’s economic track record under von der Leyen
He stressed that in the last decade, the GDP of China has grown strongly, while the US remained stable, but the GDP of Europe dropped.
EU backs coordinated, cost-conscious enforcement of anti-‘greenwashing’ rules
The agreement sets shared criteria for how national regulators enforce the Empowering Consumers for the Green Transition Directive.
AfD leader vows to restore German-Russian ties when she becomes chancellor
Alice Weidel said Germany must seek a pragmatic reset with Russia.
Premium
Spain loses US Supreme Court bid to avoid renewable energy payouts
The Supreme Court has cleared the way for investors to enforce billions of euros in renewable energy arbitration awards against the Spanish State.
British American Tobacco to cut around 9,000 jobs in AI-driven overhaul
Chief Executive Tadeu Marroco said the changes would strengthen the company’s ability to compete in a rapidly evolving environment.
European Commission only allows air conditioner for higher ups
The 13-storey building houses around 3,000 employees on the lower and middle floors, while von der Leyen’s office is on the 13th floor.
Germany could restart five nuclear reactors within four years
Class 1 reactors could be restarted for well under €1 billion each, while Class 2 plants would require between €1 billion and €3 billion.
Putin admits fuel shortage as Ukrainian strikes hit refineries
At least 17 Russian regions have imposed mandatory restrictions on petrol and diesel sales.
EU green investment flagship InnoEnergy faces EPPO fraud investigation
Since 2010, the Netherlands-based organisation has received around €760 million in EU public funding through the EIT.
Volkswagen plans to double job cuts to 100,000 and close four German plants
The plans would roughly double the previously announced target of around 50,000 job reductions, already called historic at the time due to its impact.
TotalEnergies ordered by Paris court to account for customer emissions
The decision is the latest development in a long-running climate lawsuit brought by several NGOs, together with the City of Paris.
EU governments ease ‘green’ fund rules for fossil fuel firms
The move would loosen a proposal by the European Commission, which had sought to bar firms increasing the supply of coal, oil and gas.
Defence firms press ahead with European listings despite stock slump
Franco-German tank maker KNDS has announced plans to float on the Paris and Frankfurt stock exchanges.
Ex-nuclear plant bosses urge Merz government to reactivate German reactors
Former leaders of Germany's nuclear plants urge the Merz government to reactivate the recently closed reactors, citing the need for energy stability and technological…
Germany funds fridges in Colombia while removing them from domestic trains
The broader project has received additional international funding, but Germany has been a major contributor.
High energy prices force Playmobil to end production in Germany
Around 350 jobs are affected at the Dietenhofen site, which specialised in the manufacture of the popular toys.
EU regulator orders emergency checks on Airbus A380s over wing cracks
The European Union Aviation Safety Agency (EASA) issued the airworthiness directive, requiring carriers to examine the wing mid-spar.
Merz backs pension overhaul lifting German retirement age towards 70
German Chancellor said the scheme would lift overall pension levels in the 2040s and 2050s, even through financial crises.
Premium
European Parliament backs digital euro legislation
The European Central Bank has indicated it could be ready to issue the digital euro by 2029 if legislation is finalised this year or next.
Premium
Europe’s rising heat mortality increases fuel debate over air conditioning barriers
The study used epidemiological modelling based on daily temperature and mortality data across 32 countries.