Europe
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EU tariffs pose major threat to UK steel
UK steel sector faces unprecedented crisis amid EU tariff hike. The European Union’s decision to double tariffs on steel imports threatens the UK steel industry, which exported 78% of its steel to the EU last year. Industry leaders warn of severe impacts on domestic production.
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Tesla sets sales record despite European slump
Tesla delivers record vehicles despite European setbacks. The electric carmaker exported 497,099 vehicles in Q3 2025, driven by US tax incentives. However, European sales fell 43% year-on-year, with competition and limited models impacting growth.
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Spotify founder Daniel Ek to step down as CEO
Daniel Ek is stepping down as Spotify CEO. From January 2026, co-presidents Gustav Söderström and Alex Norström will serve as co-chief executives, while Ek becomes executive chairman focused on strategy and long-term priorities. Spotify shares fell after the announcement as investors assessed the leadership shift.
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Apple escalates EU clash over digital rules
Apple warns Brussels over digital laws. The company is pressing EU regulators to roll back the Digital Markets Act, warning that without changes it may halt shipments of products to the bloc. The move escalates a long-running clash over competition, privacy, and the future of digital ecosystems.
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Exxon challenges EU over corporate due diligence law
Exxon seeks US backing against EU’s sustainability directive. The oil major has urged Washington to pressure Brussels over sweeping new rules that mandate supply chain due diligence on human rights and environmental impacts, warning that the penalties could deter investment across Europe.
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SEON secures $80m as compliance needs rise
SEON secures $80m Series C funding led by Sixth Street. The AI-driven fraud prevention platform, based in Budapest and Austin, serves clients like Revolut and Spotify. It aims to enhance fraud detection and compliance amidst rising regulatory pressures.
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Digital euro could be profit-making, ECB suggests
ECB forecasts digital euro will generate returns for payment providers. The European Central Bank says payment service providers stand to profit from distributing the digital euro, which is nearing the end of its preparation phase. A formal decision on issuing the currency is expected by October.
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EU court upholds EU–US data transfer deal
EU court upholds data transfer framework between Europe and US. The ruling rejected a legal challenge and confirmed that the framework’s safeguards are adequate, allowing businesses across sectors to continue transatlantic transfers with renewed certainty after years of disruption caused by previous court annulments of earlier agreements.
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Eurozone growth stays sluggish as services falter
Eurozone economic growth stayed sluggish in August, PMI data shows. Manufacturing posted its strongest output in more than three years, while services slowed and inflationary pressures picked up, highlighting uneven momentum and continued fragility across the bloc’s recovery.
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European car sales rebound as Tesla stalls and BYD races ahead
European car sales rose nearly 6 percent in July 2025. The market’s rebound, led by strong German registrations, was accompanied by a sharp reshuffling in electric vehicle leadership. Tesla’s sales fell 40 percent year-on-year while China’s BYD surged ahead, underscoring shifting dynamics as hybrids and EVs now dominate new registrations.