• The European Central Bank (ECB) is expanding its influence beyond interest rate decisions through a recent Governing Council meeting focused on non-monetary policy.
• Discussions centered on critical technical frameworks, including banking regulation, cybersecurity, financial stability, and the evolution of digital finance.
• This shift is significant as the ECB seeks to secure Europe's economic sovereignty amidst growing global fragmentation and heightened international competition.
Rising volume of components imported from China prompts warning of cannibalisation of European industriesEurope is facing a fresh China shock that threatens to cannibalise local factories, leading to job losses and de facto colonisation of industry by Beijing, trade analysts and representatives have said.They fear the plunging exchange rate and support for Chinese “zombie firms” has echoes of the crisis in the US 25 years ago when the term “China shock” was coined. It referred to the impact of China bursting on to the global trade stage after becoming a member of the World Trade Organization, with soaring imports displacing local industries and causing the loss of up to 2.5m jobs. Continue reading...
Port has upgraded offshore wind facilities and is to expand quays, ferry terminals and cruise ship servicesThe operator of Belfast harbour plans to spend £1.3bn over the next 25 years to take advantage of strong economic growth in Northern Ireland, in what would be one of the largest non-governmental investments in the region’s history.The Belfast Harbour Commissioners said the money would be spent on upgrading the port, with the possibility of residential property developments that could add another £750m in investment on top. Continue reading...
Activists claim use of laws to curtail internet freedoms part of well-documented history of cracking down on dissentWhen Gabon’s media regulator indefinitely suspended major social media platforms in February, citing security concerns during anti-government protests, it became the talk of town – literally.Within weeks of the announcement, use of Virtual Private Networks (VPNs) to bypass the restrictions surged in the central African country. When gendarmerie began stopping young men at road checkpoints in the capital Libreville and other urban centres to confiscate mobile phones with VPNs installed or detain the owners, warnings spread by word of mouth. Activists and opposition members said their accounts were also suspended due to efforts of state officials. Continue reading...
• Real GDP expanded at a 2% annualized pace in Q1 2026, driven by business investment surging to its fastest rate in nearly three years on AI equipment and software spending.
• Consumer spending rose modestly at 1.6%, down from 1.9% last quarter, impacted by bad winter weather and March energy price spikes.
• ISM Manufacturing PMI hit 52.7 and Services PMI 53.6 in April, marking continued expansion with Prices Paid Index steady at 70.7 signaling persistent inflation pressures.
Several frontbenchers told the Guardian they agreed the prime minister’s time in office should not go beyond the end of the year2026 elections mapped: how Labour lost ground in different directionsIn the wake of the local election results, Keir Starmer faced calls to stand down after voters handed a damning verdict on the Labour party.Starmer took responsibility after Labour lost hundreds of councillors in England and suffered humiliation in Wales, but he made clear that he would not quit, saying “tough days like this don’t weaken my resolve”. Continue reading...
German defence minister responds to US president’s announcement that 5,000 US troops will leave bases in GermanyHello and welcome to our live coverage of events in the Middle East.The German defence minister, Boris Pistorius, said that it was “foreseeable” that the US would withdraw troops from Europe, after the Pentagon announced it would pull thousands of American soldiers from Germany.Trump said he is “not satisfied” with a new proposal from Iran on ending the war, as peace talks remain stalled despite a weeks-long ceasefire. Iran delivered the proposal text to mediator Pakistan on Thursday evening, Iranian state news agency Irna reported, without detailing its contents.The US state department said it was approving military sales totalling more than $8.6bn to Middle Eastern allies Israel, Qatar, Kuwait and the United Arab Emirates. It came as Washington warned European allies including the UK, Poland, Lithuania and Estonia to expect long delivery delays for US weapons as it scrambles to replenish stockpiles depleted by the Iran war, according to a report in the Fianancial Times citing multiple sources.In Lebanon, 12 people were killed in Israeli strikes in the south, Lebanon’s health ministry said, including in the town of Habboush, where the Israeli army had issued an evacuation order despite the continuing ceasefire. Israeli warplanes “launched a series of heavy strikes … less than an hour after” the warning, the state-run National News Agency said.The US Treasury Office warned that any shipping companies that paid tolls to Iran for passage through the strait of Hormuz, including charitable donations to organisations such as the Iranian Red Crescent Society, would risk punitive sanctions. Tehran has proposed charging fees on vessels passing through the strait, as part of a deal to end the war.Trump wrote to US lawmakers on Friday declaring hostilities with Iran “terminated”, despite no change in the US military posture, as he faces continuing pressure at home to seek congressional authorisation for the war.The state department’s announcement on Friday included approving military sales to Qatar of Patriot air and missile defence replenishment services costing $4.01bn and of advanced precision kill weapon systems (APKWS) costing $992.4m. They also included approval of the sale to Kuwait of an integrated battle command system costing $2.5bn and to Israel of APKWS costing $992.4m.Iran’s supreme leader Ayatollah Mojtaba Khamenei urged his people to wage economic battle and “disappoint” its enemies, as the war and years of sanctions take a toll. In a written statement he also said “the owners of damaged businesses should avoid, as much as possible, layoffs and separation of their workforce”. Continue reading...
• US-Iran ceasefire talks collapsed in Pakistan, raising doubts over Army Chief Asim Munir's role as mediator despite Trump's prior praise.
• Concerns in US national security circles focus on Munir's alleged IRGC ties, questioning his neutrality.
• Tehran refuses further Islamabad-hosted talks, pressuring Pakistan's diplomatic standing.
PM said he was ‘staggered’ not to have been told that Peter Mandelson had failed his security vetting before becoming ambassador to the USHello and welcome to the Guardian’s live coverage of UK politics on Saturday 18 April.Keir Starmer is facing “judgment day” according to senior government figures over the failure in Peter Mandelson’s vetting process. Continue reading...
Government, industry and opposition see growing public support for a new gas tax but the industry is fighting backGet our breaking news email, free app or daily news podcastThe gas industry is mobilising in opposition to a potential new tax on the sector as political momentum builds – including among Labor MPs – for the government to use the May budget to prevent producers profiting from the Middle East war.The Australian Energy Producers (AEP) chief executive, Samantha McCulloch, claimed a new tax would punish the same Asian trading partners Australia was leaning on to supply more fuel amid the global energy crisis. Continue reading...
Proposal fails to advance in Senate amid growing concerns about long lines to get through screening at some airportsA bill to fund the Department of Homeland Security failed to advance on Friday in the Senate amid growing concerns about long lines to get through screening at some of the country’s biggest airports.Democrats declined to provide the support needed to move the funding measure toward final passage. Senate Democratic leader, Chuck Schumer, said he would offer an alternative measure on Saturday to fund just the Transportation Security Administration, which screens passengers and luggage for hazardous items. That too is likely to fail as lawmakers hold a rare weekend session. Continue reading...
Emily Thornberry is the latest figure to call on the king’s visit to the US to be delayed, citing the ongoing war against IranYesterday Donald Trump confirmed that he expects the king’s state visit to the US to go ahead at the end of April. As the Mail reports, speaking about his plan to build a new, mega ballroom on the east wing of the White House, Trump said he needed a facility like this because of the weather in Washington. He explained:And you know the land in Washington was built on a swampy wetland.And when it rains, and you have the King of Saudi Arabia ... the King of the UK, I would say King of England, a great guy, he’s coming in very soon. And when it rains, you know what happened? And the rain would go over their feet. Continue reading...
Nicole Kidman and Keith Urban's daughter Sunday Rose, 18, debuted on the Miu Miu runway March 13, intensifying public frustration with Hollywood nepo babies dominating fashion and film. Bored Panda notes commenters decrying unequal opportunities as nepotism debates rage pre-Oscars. The event at Paris Fashion Week underscores intergenerational celebrity privilege in US entertainment discourse. Critics argue it disadvantages emerging talents without famous parents.
Image: News.az