Tens

• Russia and China vetoed a United States-drafted United Nations Security Council resolution that sought to extend the mandate of the Iran sanctions Panel of Experts. • The resolution failed despite 11 votes in favor, which would have extended the panel's oversight of the resolution 1737 Iran Sanctions Committee until September 2027. • The veto prevents the continued official monitoring and reporting on Iran's compliance with international sanctions.

Arson attacks related to illegal tobacco trade are also causing revenue and reputation problems for neighbouring businessesGet our breaking news email, free app or daily news podcastSmall businesses located near tobacconists are being denied insurance or priced out of coverage as rising arson attacks turn neighbouring shops into collateral damage.The problem has intensified after a spate of firebombings, which includes a recent Melbourne blaze that destroyed a Richmond tobacco retailer and nearly a dozen neighbouring shops, requiring 80 firefighters to contain. Continue reading...

• KfW Research found that geopolitical tensions are increasingly weighing on German foreign trade, with exports being particularly exposed. • The analysis shows that the link between geopolitical alignment and trade flows has become considerably more pronounced since 2016. • This trend creates higher risks for German exporters who rely on stable international relations to maintain their market access.

• The European Commission stated on July 6, 2026, that a French bill banning social media access for children under 15 does not fully align with European Union law. • France is pursuing this restriction alongside Spain and Denmark, following Australia's lead as the first country to implement a digital age of majority in December 2025. • The ruling creates a legal hurdle for France as it attempts to restrict youth internet access while remaining compliant with broader EU regulations.

• Donald Trump threatened to impose serious tariffs on Europe if Canada becomes an associate member of the European Union. • The threat follows Canada's efforts to strengthen ties with European nations as its relationship with the United States worsens. • These potential tariffs could disrupt trade flows and increase costs for businesses operating across North American and European markets.

Canada’s prime minister, Mark Carney, is due to address the European parliament on Thursday. Plus, how the attention economy overwhelmed children’s TVGood morning.Donald Trump has threatened the EU with “serious tariffs” after the European Commission president, Ursula von der Leyen, invited Canada to become the EU’s first “associate member”.Why does the EU want closer ties with Canada? Von der Leyen told the European parliament that, as democracies faced a “fracture in the international rules-based system”, Brussels and Ottawa needed to pull closer together. “This is a partnership not against anyone else, but for our common strength,” she said.How has the EU responded to Trump’s comments? France’s Europe minister, Benjamin Haddad, said on Thursday that Washington had no power to veto EU decisions. “It is not up to the United States, or ‌anyone else, to choose the political and geopolitical direction of the Europeans,” Haddad ‌told Public Sénat TV channel.What’s next? Canada’s prime minister, Mark Carney, has been addressing the European parliament on Thursday. Follow our live coverage here.Did Warsh identify what is driving inflation? Warsh acknowledged changing geopolitics, but avoided calling out the US-Israel war with Iran by name.How did Trump respond? Shortly after the announcement, Trump said in a Truth Social post that interest rates should be 1% or less and criticized the US trade deficit. Continue reading...

European Commission president Ursula von der Leyen says such a partnership is for the European Union’s ‘common strength’US president Donald Trump has threatened the European Union with “serious tariffs” and a cut to trade after the bloc proposed to make Canada its first ever associate member, calling the idea “laughable”.Suggesting the move was a “hostile act”, the US president told reporters he could put “very serious tariffs or stop trading with Europe”. He added: “If it’s a good intention, that’s fine. If it’s a bad intention, we’ll put very heavy tariffs on Europe.” Continue reading...