EU unveils ‘buy European’ public procurement rules to counter China
European authorities will be encouraged to buy more domestic goods and services when they spend public money under the EU latest effort to counter China’s economic might.
Policy
Supercar maker McLaren to create 1,000 UK jobs as part of £450m tech investment
The British supercar manufacturer McLaren is to create 1,000 jobs in a welcome boost to the UK’s struggling automotive industry.
Oil prices rise above $100 a barrel for first time since July as Iran war escalates
The price of oil has risen above $100 a barrel for the first time since July as the escalating conflict in the Middle East threatens further disruption to global supplies.
Apple expected to unveil folding iPhone as new CEO takes center stage
All eyes are on Apple’s annual fall announcement of new products this afternoon, where the company is expected to unveil the most significant change to the iPhone since the smartphone’s introduction in 2007.
‘Miserable and impossible’: food scarce in Kyiv as Russia targets supply chains
Stocking up on cured sausages from the half-empty shelves in her local supermarket, Valentyna Sveshnikova is worried about money. The 68-year-old grandmother lives off her small pension and has already noticed the cost …
Burnham urged to tackle inequality with policies including wealth tax
Andy Burnham should tackle inequality in the UK by introducing a wealth tax, universal free personal social care and bringing gas and electricity networks under public ownership, according to a report from more than a d…
US bans Canadian dairy, alcohol and motorcycles as trade war with longtime ally escalates
The measure comes as Canada imposes $20bn in retaliatory tariffs and Canadian prime minister Mark Carney vows to reduce his country’s economic dependence on the US
Putin promised Kim Jong-un to strengthen the partnership between Russia and North Korea
Russian President Vladimir Putin sent a telegram to North Korean leader Kim Jong Un congratulating him on the 78th anniversary of the republic’s founding. In it, he pledged to strengthen the partnership between Moscow a…
UK air traffic control problem strands hundreds of thousands of passengers
Hundreds of thousands of air passengers had flights delayed or cancelled after another UK air traffic control technical glitch kept planes grounded for hours on Tuesday.
Ikea wins right to launch legal action against Belgian far-right party
Ikea has won the right to take legal action against a Belgian far-right political party that parodied the Swedish flatpack furniture firm’s branding in its anti-immigration campaign.
UK government pays highest interest rate on 30-year bond since 1998
The UK government was forced to pay the highest interest rate for a 30-year bond since 1998 on Tuesday, underlining the fiscal challenges facing the chancellor, John Healey.
UK to force Apple and Google to block explicit images on children’s smartphones
Apple and Google will be forced to block explicit images on children’s smartphones by law in the UK after talks failed to produce a breakthrough, the government has said.
Canada 10-year yield rises as oil surge fuels inflation worries
Wall Street closed lower on Monday, dragged down by retail and communications stocks. Concerns around overvaluation of AI-related stocks and rising oil prices because of continued Middle East tensions weighed on investo…
Premier League clubs face losing lucrative sponsors if unlicensed gambling firms banned
Half of the Premier League’s 20 clubs have sponsorship or advertising deals with unlicensed gambling companies that could be illegal next year under plans being developed by the government.
Lavrov proposed turning all of Ukraine into a “buffer zone”
Russian Foreign Minister Sergey Lavrov suggested that Ukraine become a “buffer zone” once the conflict ends. This was his response to a question about guarantees that hostilities would not resume in 25 years.
Frank Elderson: Fireside chat
European banks are doing much better than they used to. Their profitability has caught up with that of US banks since the pandemic, and cost-to-income ratios in the EU are now better than in the United States. Asset qua…
Brussels is preparing restrictions on short-term rentals and second homes
The European Commission is paving the way to allow local governments to impose restrictions on second homes and short-term rentals in areas most threatened by the housing crisis sweeping the continent. The regulation do…
EU and Canada plan broad alliance to counter U.S.-China dominance - Bloomberg
An overwhelming victory by a far-right-wing party in a small state in eastern Germany will have major repercussions for Chancellor Friedrich Merz’s coalition.
AI will help find cure for cancer ‘within our lifetimes’, says Arm Holdings chief
The boss of one of the UK’s biggest chip companies has claimed AI will be able to find a cure for cancer “in our lifetime”.
Nominees for the Best Soccer Coach of the Year Award Have Been Announced
France Football magazine has named the nominees for the Johan Cruyff Trophy—an award presented annually to the best soccer coach. The winner will be announced on October 26 at the Ballon d’Or awards ceremony, which will…
The Kremlin hinted at a phone call between Putin and Trump today // Peskov did not rule out a phone call between Putin and Trump today
Russian President Vladimir Putin will hold an international phone call today “early in the afternoon,” according to presidential press secretary Dmitry Peskov.
Channel 4 to axe about 300 jobs in biggest layoffs in its history
Channel 4 is poised to cut about 300 jobs – about a quarter of its workforce – in the biggest round of layoffs in its 43-year history, as the broadcaster seeks to dramatically cut costs.
‘Everything is against us’: Jaguar Land Rover suppliers voice fears amid carmaker’s cutbacks
David Roberts is not in an optimistic mood. The chair of Coventry-based Evtec may preside over a business with 900 highly skilled employees, multiple sites and precision machinery, but the outlook for the manufacturer a…
Ozon Bank has begun offering auto loans
Ozon Bank (a subsidiary of the Ozon marketplace) has launched a pilot program to offer auto loans. The project is currently available to a select group of customers, the bank told Interfax.