Europe
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Brussels has postponed its landmark Digital Services Act probe. The decision delays a potential fine against X. Officials say the move aims to avoid inflaming tense trans-Atlantic trade talks, leaving open questions about enforcement credibility as the EU weighs its next steps.
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The European Central Bank faces new uncertainty over U.S. trade. Bundesbank President Joachim Nagel urged “politics with a steady hand” as Trump’s sweeping tariff threat disrupts policy plans. Officials will now rerun growth forecasts ahead of the 23–24 July ECB meeting, with no immediate rate move expected.
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A €400 million pension-fund move may decide a major bank takeover. Italian pension fund Enasarco’s surprise stake in Mediobanca has become the likely swing vote in Banca Monte dei Paschi di Siena’s €13 billion hostile bid, drawing scrutiny over governance, political influence, and sector strategy.
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EU ministers have approved Bulgaria’s accession to the eurozone. The country will become the 21st member on 1 January 2026. Bulgaria’s conversion rate is fixed, and dual pricing will start in August as the government aims to ease consumer transition and address inflation concerns.
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Apple appeals a €500 million EU fine over App Store rules. The company argues the penalty exceeds legal requirements, claiming imposed business terms harm both developers and consumers. The case tests the EU’s Digital Markets Act against Silicon Valley’s operational norms.
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A new study finds biosolutions could create 604,000 European jobs. The Amsterdam Data Collective report, commissioned by Novonesis, outlines how bio-based technologies could unlock €133 billion in value for the EU and UK by 2035, but warns that policy reform is critical for global competitiveness.
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German industry delivered a positive surprise in May 2025. Output rose 1.2%, outpacing forecasts and marking the sector’s strongest monthly gain since January. Gains in autos, energy, and pharmaceuticals offset continued weakness in construction and new orders.
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Inflation in the euro area rose to 2% in June. The European Central Bank’s preferred gauge returned to target, led by persistent service-sector pressure even as energy prices fell again.
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The EU has launched a five-pillar quantum plan. The Commission wants Europe to become a “quantum industrial powerhouse” by 2030 — and is drawing up a Quantum Act to boost investment, secure infrastructure, and scale start-ups. Six pilot chip lines and a new quantum academy will launch by 2026.
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Tesla’s European sales decline as consumers favour cheaper rivals. Tesla’s sales in Europe dropped for the fifth consecutive month, with a 40.5% decrease in May. The carmaker’s market share fell to 0.9%, as buyers turn to cost-effective alternatives and controversies around Elon Musk impact sentiment.