Economist
Following dramatic developments in the Gulf conflict, tensions remain unresolved. Trump announced a merchant ship protection plan for the Strait of Hormuz but suspended it within days. Iran attacked the UAE, a key American ally, though the U.S. downplayed the incident's significance. Trump continues promoting prospects for diplomatic negotiations despite these escalations and setbacks.
Vladimir Putin's leadership has driven Russia into an uncertain situation with no clear path forward. This shift is evidenced by changing language patterns among senior officials, regional governors, and businessmen, who have abandoned collective first-person plural pronouns when discussing government actions, instead distancing themselves from state authority.
In April, the cruise ship MV Hondius departed Argentina with approximately 150 passengers and crew heading to Cabo Verde. By early May, a hantavirus outbreak was detected aboard the vessel, prompting international health authorities to respond urgently. Officials worked to contain the virus's spread and provide treatment to affected individuals.
A third Gulf War theoretically benefits major oil companies significantly. Brent crude prices surged to $118 per barrel by early 2026, far exceeding analysts' $60 January projections. Refined product prices rose even faster. With Gulf oil exports constrained by the Strait of Hormuz, alternative suppliers from America, Africa, and Brazil increased exports. Western oil majors should consequently enjoy wider profit margins and increased sales volumes.
Berkshire Hathaway and SoftBank Group, despite representing contrasting capitalist philosophies, share striking similarities. Both operate as hybrid conglomerates blending operating businesses with investment functions. Each was built by iconic, first-name-recognizable leaders. Additionally, both companies receive minimal critical analysis from banking analysts and enjoy devoted investor followings, shielding them from typical scrutiny.
Wicker Park, a northwest Chicago neighborhood, was recently one of America's trendiest areas. Young people with distinctive hairstyles frequented its nightclubs on summer weekends, while vintage clothing stores thrived selling retro 1980s apparel. The neighborhood blended old and new, with traditional Puerto Rican restaurants existing alongside modern cafes offering cronuts and unlimited mimosas.
Ashdown Forest in East Sussex inspired A.A. Milne's Hundred Acre Wood from Winnie the Pooh. Notably absent from the original stories are deer, which now inhabit the forest at 15 per square kilometre. Visitors may encounter herds of 30 deer or spot evidence of their presence through stripped bark and trees eaten up to approximately 1.6 metres high, marking the maximum browsing height of fallow deer.
In Salzwedel, East Germany, locals confronted Chancellor Friedrich Merz over his policies. Protesters outside criticized his energy agenda, while inside, citizens complained about healthcare changes and bureaucratic burdens. A skin-cancer patient opposed screening reforms, and an entrepreneur expressed frustration with red tape and Ukrainian aid, calling for new elections. Merz faced widespread discontent over perceived lack of concrete solutions.
A Republican operative in Indiana was tasked with pushing a heavily gerrymandered congressional map through the state legislature that would have eliminated Democratic representation. Unlike other states where Republicans passed similar maps, Indiana Republicans resisted the effort. In response, Donald Trump pursued retribution against those who refused to comply, demonstrating his enforcement tactics within the party.
Medieval masons devoted themselves to building cathedrals they'd never see completed, creating structures meant to endure centuries. Today, European Commission staff in Brussels pursue a similar mission, constructing an elaborate political and regulatory framework intended to be as lasting and impressive as historic cathedrals. Rather than physical architecture, they build complex regulations designed to stand the test of time.
Germany's chancellor faces mounting challenges after one year in office, with unfulfilled campaign promises, internal government conflicts, and tensions with President Trump. Meanwhile, the advertising industry is quietly integrating products into AI chatbots. The episode also examines how wartime rhetoric has significantly deteriorated in recent years.
The Vietnam War has been characterized in various ways—as a quagmire, a misguided commitment, and a devastating conflict. Historical examinations explore how American policymakers became entangled in the war and why exiting proved difficult. Scholarship addresses both American military experiences and Vietnamese civilian impacts, with some works anticipating the conflict's failure before major escalation occurred, reflecting America's idealism mixed with overconfidence.
A San Francisco-based tech industry writer position is available at The Economist. The ideal candidate should possess deep knowledge of major tech trends, particularly AI, and identify significant corporate stories as they develop. The role requires producing original, ambitious journalism suitable for The Economist's cover, with opportunities for podcast and video appearances. While journalistic experience isn't essential, Silicon Valley connections are valuable. Critical skills include analytical thinking and clear writing. Applicants must submit a CV and an unpublished sample article of 700 words maximum for the Business section by June 18th.
The Taiwan Strait experiences extreme weather conditions most of the year, with gale-force winds and dangerous seas during autumn and winter, plus typhoons in summer. However, during April-May and September-October, calm fog settles over the 160-kilometer strait. American military planners view these calm periods as particularly threatening windows for a potential Chinese invasion attempt.
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Author Michael Pollan investigates the scientific mystery of consciousness, exploring evidence across humans, animals, and plants. His research seeks to understand this fundamental question that has long puzzled scientists. Pollan's inquiry extends beyond biological organisms to consider whether consciousness could potentially exist in machines, broadening the traditional scope of consciousness studies beyond conventional boundaries.
Brazil faces a divisive upcoming election with significant polarization among voters. The Economist investigated the origins of this political split by visiting municipalities that strongly supported either Luiz Inácio Lula da Silva or Jair Bolsonaro in the 2022 election. Understanding these localized voting patterns provides insight into the deeper ideological and socioeconomic divisions shaping Brazilian electoral politics.
Foreign Policy
India's ruling Bharatiya Janata Party strengthened its political position following state elections, notably winning a landslide victory in West Bengal by unseating incumbent Mamata Banerjee after fifteen years. The BJP's success, attributed to economic distress and anti-incumbency, contrasts with opposition concerns about voter roll removals affecting Muslim constituencies. Meanwhile, tensions between India and Pakistan remain frozen one year after their military conflict, with neither side showing reconciliation. Bangladesh watches developments closely given border implications, while piracy off Somalia involves Pakistani nationals held for ransom.
China has invoked its blocking statute to prevent domestic companies from complying with U.S. sanctions on Iranian oil refineries, marking an unusually aggressive move amid tensions with the Trump administration. Additionally, Zambia canceled a major human rights conference under Chinese pressure regarding Taiwanese participation, while China ended a prestigious mathematics program as part of an educational equality initiative. American scientist Charles Lieber, convicted of undisclosed Chinese funding, has relocated his lab to Shenzhen. Meanwhile, China continues dominating green energy, installing three times the global wind capacity last year.
Two months into Operation Epic Fury against Iran, prominent war advocates including Senator Lindsey Graham and commentator Bret Stephens—who supported the Iraq invasion—face little accountability despite the war's unclear objectives and mounting costs. The article argues that American leaders maintain a dangerous fantasy of "perfect war": precise, swift, and morally justified operations free from civilian casualties and strategic uncertainty. This illusion, rooted in U.S. exceptionalism and nostalgia for Cold War-era successes, prevents honest debate about war's true costs and enables critics to focus on execution rather than legitimacy. Without confronting war's inherent brutality and unpredictability, policymakers will continue repeating catastrophic mistakes.
Thirty House Democrats have urged the U.S. to publicly acknowledge Israel's nuclear weapons program, breaking a fifty-year political taboo. Led by Rep. Joaquin Castro, they questioned why Israel's arsenal receives different treatment than other nations'. The recent Iran-Israel conflict has eroded opacity's strategic value by making nuclear weapons an explicit subject of regional warfare. While neither government will likely abandon the policy outright, its diplomatic function weakens as nuclear capabilities enter ordinary political discourse and the region potentially develops multiple undeclared arsenals.
China's decision to block Meta's $2 billion acquisition of AI firm Manus reflects Beijing's hardening stance on technology security and foreign investment. The retroactive prohibition targets the "Singapore-washing" structure that allows Chinese companies to circumvent restrictions by relocating offshore. Beyond preventing technology leakage, Beijing aims to establish regulatory control over agentic AI development and set precedent against similar acquisitions. This move signals China's broader strategy to restrict outbound investments and retain domestic tech talent, mirroring U.S. export controls and marking a convergence toward weaponizing investment restrictions as competitive tools.
Libya's rival governments approved their first unified state budget in over a decade, brokered by a Trump administration official. The $30 billion budget aims to reduce corruption and boost oil production, but analysts caution it lacks enforcement mechanisms and structural reforms. Meanwhile, Mali's rebel fighters continue offensive operations, seizing northern cities and blockading Bamako. ECOWAS inaugurated its new Chinese-built headquarters in Nigeria. Additionally, Kenya will host the Africa Forward Summit, and rising xenophobic attacks prompt Nigerian repatriation from South Africa.
Philippine President Ferdinand Marcos Jr.'s March energy emergency declaration revealed that U.S. security commitments don't shield Southeast Asia from Persian Gulf conflicts. With only 45 days of fuel reserves, the Philippines scrambled to secure energy while thousands of miles from the Strait of Hormuz. The IMF warns Asia faces greater vulnerability to prolonged war-induced energy shocks due to Middle Eastern fuel dependence. Southeast Asian states—the Philippines, Vietnam, and Indonesia—demonstrate varying levels of constrained agency, attempting to preserve policy space between U.S. and Chinese influence while managing economic fallout from conflicts beyond their control.
China has escalated gray-zone military pressure on South Korea through airspace closures and maritime incursions, with incidents increasing from roughly 50-140 annually before 2021 to nearly 500 by 2023. This pressure correlates directly with Seoul's alignment with Washington's Indo-Pacific strategy and Taiwan policy. The Trump administration's demand that South Korea assume greater responsibility for North Korean deterrence while simultaneously integrating into U.S. China containment strategy creates strategic contradiction. Without clarifying priorities and establishing military communication protocols, Washington risks undermining both objectives and exhausting its ally's capabilities.
Iraq faces a political and security crisis as Iran-aligned militias launch attacks from its territory against U.S. and Gulf targets. While parliament selected a new president and nominated a prime minister—both past constitutional deadlines—the country struggles with militia violence, weak governance, and foreign interference. The incoming government must balance Iranian and U.S. interests while strengthening rule of law and curtailing militia power. Iraq's fractured political system has made it vulnerable to sectarian conflict and regional instability.
Iran's leadership has fundamentally shifted its definition of victory from expansionist regional goals to mere survival under military pressure. Once seeking to export revolution and eliminate Israel, Iranian officials now frame endurance and avoiding defeat as success. This represents a strategic contraction mirroring nonstate militant organizations rather than conventional state behavior. The gap between revolutionary ambitions and current capacity continues widening, with survival rhetoric masking Iran's inability to achieve traditional strategic objectives while operating under sustained pressure from the United States and Israel.
The U.S.-Iran conflict risks becoming a prolonged war despite initial pressure to end it. Iran demonstrates strong resolve, surviving thousands of airstrikes while inflicting regional damage. President Trump exhibits decision-making patterns favoring reputation and hubris over cost-benefit analysis, including demands for a nuclear deal victory and threats of escalation. Weak institutional constraints on both sides enable conflict continuation—Iran faces no domestic limitations, while Republican-controlled Congress has imposed minimal restrictions. Congress could require 30-day reporting and reauthorization votes to encourage rational cost-benefit thinking and prevent another forever war.
An upcoming ASEAN summit in the Philippines will address growing regional frustration with the United States, particularly over economic damage from the Iran conflict and resulting fuel crisis. Myanmar's former leader Aung San Suu Kyi has been transferred to house arrest, potentially supporting Myanmar's bid for normalization within ASEAN. Thailand plans a $12.3 billion emergency loan to manage the energy crisis. Meanwhile, Bali faces a severe waste management crisis with its main landfill overloaded and closed, with no adequate alternatives available until 2028.
Iran is experiencing a critical transformation in its public spaces during the U.S.-Israeli conflict. The Islamic Republic has mobilized supporters through organized street rallies featuring anti-American chants and missile displays, while simultaneously establishing checkpoints that restrict civilian movement. This represents a reversal of decades-long social trends where ordinary Iranians had gradually reclaimed public spaces through everyday defiance of regime restrictions. As citizens retreat indoors, pro-regime groups have filled the streets, reasserting state control over urban landscapes and signaling ideological dominance during this conflict.
The United States approaches a potential deal with Iran to end their two-month conflict, involving a 14-point memorandum covering Strait of Hormuz reopening and future negotiations. Key disputes remain over nuclear enrichment moratorium length and sanctions relief. Meanwhile, the Philippines urges Myanmar to allow ASEAN envoy access to detained opposition leader Aung San Suu Kyi, seeking transparency. G-7 trade ministers agreed to reduce dependence on China's critical minerals dominance. Sudan and Ethiopia traded accusations of drone strikes and military support for opposing factions.
Politico
EU lawmakers and governments failed to reach an agreement Wednesday on implementing a U.S. trade deal negotiated at Trump's Scottish golf club last year. The impasse risks triggering Trump's threatened 25 percent auto tariffs on European manufacturers. EU lawmakers have resisted ratification, demanding additional conditions including steel tariff cuts and safeguards against territorial threats. Both sides expressed hope for progress, with negotiations tentatively scheduled to resume May 19, aiming for final compromise by July when Trump's stopgap tariffs expire.
Secretary of State Marco Rubio visits Rome to address tensions with the Vatican over Trump's attacks on Pope Leo XIV and negotiate with Prime Minister Giorgia Meloni on defense and trade issues. While the U.S. holds leverage over Italy through military presence and tariffs, it lacks comparable pressure on the Vatican, which remains independent and unaffected by traditional diplomatic tools. Rubio must appeal rather than bargain with the pontiff, while Meloni navigates balancing Trump alignment with domestic Catholic concerns.
Luxembourgish right-wing politician Fernand Kartheiser is recruiting European Parliament members to visit Russia, including meetings with the Russian State Duma on June 3 during the St. Petersburg Economic Forum. Kartheiser was previously expelled from his political group over a Moscow trip. The recruitment contradicts EU restrictions on official parliamentary cooperation with Russia since 2014 and the 2022 invasion of Ukraine. Some lawmakers criticize the effort as attempting to recruit MEPs as Russian informants, while others defend personal contacts with Russia as acceptable without formal sanctions.
Tens of millions of Britons are voting Thursday in elections for councils, parliaments, and mayors across England, Scotland, and Wales. Prime Minister Keir Starmer faces his biggest political test since Labour's 2024 landslide, as the party has plunged in polls and fallen behind Reform UK. Labour is defending the most seats of any party and faces a potential pincer movement from Reform and the Green Party. Reform expects significant gains, the Conservatives face continued losses, and the Greens hope for breakthrough results. Scotland's SNP seeks a majority, while Wales projects Labour finishing third behind Reform and Plaid Cymru.
Belgium's Foreign Minister Maxime Prévot has called for the EU to adopt a unified strategy protecting strategic industries like chemicals, pharmaceuticals, metals, and automotive sectors from Chinese oversupply. Returning from China, Prévot warned the bloc risks becoming a "coalition of frogs" without cohesion. He acknowledged potential Chinese retaliation but argued defensive measures are necessary to address Europe's growing trade deficit with China, which reached €360 billion last year. The EU plans to debate its China policy later this month, with European leaders discussing next steps at a June summit.
Spain's conservative People's Party faces pressure from the far-right Vox party ahead of Andalusia's May 17 regional election. Vox is pushing for "national priority," granting Spanish citizens preferential access to public services over immigrants. The PP, particularly moderate Andalusian President Juanma Moreno, opposes the policy, fearing it alienates centrists and immigrant communities. Prime Minister Sánchez has condemned the concept as unconstitutional, while the Church opposes it. Polls show the PP leading but potentially requiring Vox coalition support, creating internal party tension over the controversial proposal.
Dutch Climate Minister Stientje van Veldhoven argues the EU must accelerate its climate transition to reduce fossil fuel dependence, citing war-driven energy price spikes. She advocates maintaining strict climate laws and limiting carbon offset use to avoid outsourcing emissions reductions. Van Veldhoven emphasizes that predictable investment pathways toward 2040 will keep Europe competitive in green technology development and ensure economic independence from geopolitical vulnerabilities. She also pushes for agricultural emissions reduction measures in upcoming climate legislation.
Europe's pharmaceutical industry is lobbying to delay a 2024 EU directive requiring them to pay 80 percent of wastewater treatment costs for removing toxic micropollutants. The generics sector warns compliance could force price increases or market withdrawals of essential medicines. However, if the obligation is suspended, costs would shift to households and local authorities through higher water bills. The European Commission estimates the annual cost at €1.48-1.8 billion by 2045, roughly €2.60-3.20 per citizen. Cities and water utilities oppose delays, while lawmakers remain divided on whether industry should bear these environmental cleanup expenses.
The EU is developing criteria to define "sovereign" technology to reduce dependence on foreign tech giants, particularly American companies. European firms worry Brussels will include loopholes allowing U.S. providers when European alternatives aren't available. The Commission plans to introduce the Cloud and AI Development Act in May, using an "assurance levels" benchmark based on legal exposure and component origin. However, the EU awarded €180 million in contracts to a Google-Thales partnership, suggesting willingness to include American technology. France and Germany are developing joint sovereignty criteria focusing on European control and value, potentially excluding foreign government jurisdiction. U.S. tech lobbyists oppose geographic restrictions, claiming they prioritize nationality over security.
Polish President Karol Nawrocki pledged to personally lobby Donald Trump to station American troops withdrawn from Germany in Poland, contradicting Prime Minister Donald Tusk's earlier warning against "poaching" allied forces. Nawrocki stated Poland has infrastructure ready to host relocated U.S. soldiers. The Pentagon plans to withdraw approximately 5,000 troops from Germany. Poland currently hosts around 10,000 American troops, while Germany has roughly 36,000. The two Polish leaders disagree on the issue, with the opposition Law and Justice party criticizing Tusk's stance on security priorities.
Belgian Prime Minister Bart De Wever defended his country against accusations of antisemitism from U.S. Ambassador Bill White, who criticized an Antwerp prosecutor's recommendation to prosecute two Jewish men for alleged illegal circumcisions. De Wever stated that Belgian legislation stands above religion and that circumcision, while essential to Jewish and Islamic faith, must comply with quality standards. White condemned the prosecution as shameful, warning Belgium would be perceived as antisemitic globally. De Wever and other Belgian officials rejected White's interference in domestic affairs, with Foreign Minister Maxime Prévot calling his remarks inappropriate.
EU officials are moving toward social media restrictions for children, but experts warn against a simple ban. France, Greece, Spain, and Cyprus are developing national legislation citing mental health concerns. However, EU officials argue measures must extend beyond binary yes-or-no approaches to create safer online environments. Technical implementation challenges, including age verification, remain unresolved. Expert Sonia Livingstone emphasizes enforcement difficulties and questions effectiveness, advocating instead for comprehensive child protection solutions within existing legal frameworks.
British local elections Thursday are shaped by Gaza politics amid a surge in antisemitic incidents. The Green Party, gaining support through anti-Israel rhetoric under leader Zack Polanski, faces serious backlash after Labour exposed antisemitic comments from 25 Green candidates. Two Green candidates were arrested over antisemitic posts, with over 30 under investigation. Polanski, Jewish himself, acknowledged the need for better vetting and candidate training. The controversy has damaged his favorability ratings significantly. Meanwhile, Jewish communities report increasing violence and vandalism since March.
The European Commission is considering draft guidelines that would allow EU member states to exempt fossil fuel companies from penalties under new methane emissions rules on energy security grounds. The exemptions could be granted without clear time limits or Commission oversight, even before major disruptions occur. This represents a significant concession to the oil and gas industry, which has fiercely opposed the strict methane regulation set to gradually take effect. The recommendations maintain the rules while highlighting enforcement flexibilities based on various supply-related factors.
Hungary returned €35 million, $40 million, and 9 kilograms of gold seized from Ukraine's state bank in March. President Zelenskyy called it "an important step" in improving relations. The seizure under Prime Minister Viktor Orbán had sparked outrage, with Ukraine's foreign minister accusing Budapest of "state terrorism." Relations have warmed since Péter Magyar's election victory in April, with Hungary also lifting its veto on a €90 billion EU loan to Ukraine.
France deployed its aircraft carrier Charles de Gaulle through the Suez Canal toward the Red Sea to support a 51-country initiative aimed at reopening the Strait of Hormuz for safe maritime passage. About 20 percent of global crude oil transits this strategic chokepoint daily, but traffic has largely halted since the U.S.-Israel conflict with Iran began in February. France seeks to establish a defensive European mission to escort commercial shipping while remaining separate from direct military involvement, proposing that Iran allow passage in exchange for U.S.-Iran negotiations on substantive issues.
Germany secured EU support to exempt machinery from the EU's artificial intelligence law, marking a significant departure from the original rules designed to cover all AI sectors. More than a dozen EU ambassadors backed the proposal during Wednesday negotiations, with industrial AI applications now subject to machinery rules instead of the AI Act. The change reflects pressure from German industrial giants like Siemens and Bosch, though some countries obtained safeguards requiring human oversight. The agreement faces an April deadline to prevent legal uncertainty before high-risk AI rules take effect.
POLITICO is hosting its AI & Tech Summit in Brussels to examine Europe's artificial intelligence future. The event brings together policymakers, industry leaders, and innovators to discuss how the EU's new digital regulations will interact with deregulation efforts, infrastructure development, and international relations with the United States and China. Discussions will explore whether Brussels understands Silicon Valley's developments and Washington's perspectives on EU tech decisions.
The U.S. Ambassador and Israeli Foreign Minister have condemned Belgium's plan to prosecute two Jewish ritual circumcisers, calling it antisemitic. The Antwerp prosecutor recommended prosecuting the mohalim for allegedly performing illegal circumcisions, which Belgian law requires be done by medical professionals. Belgium's Foreign Affairs Minister rejected the accusations, stating the proceedings are legitimate legal matters initiated by Jewish community representatives themselves, not religious persecution. He criticized the U.S. ambassador for publicly interfering in judicial processes.
A French container ship was struck in the Strait of Hormuz, injuring crew members, as the U.S.-Iran ceasefire deteriorates. The attack on CMA CGM's San Antonio vessel highlights escalating dangers in the critical waterway despite Trump's "Project Freedom" plan to escort commercial ships. The incident follows multiple recent attacks in the strait, including strikes on cargo vessels and tankers. France stated it wasn't targeted and emphasized the need for free traffic passage. Maritime experts suggest operators will adopt cautious approaches before resuming normal routes through the volatile region.
The European Union is revising its Cybersecurity Act to address supply chain security risks, which will impact U.S. technology companies if they fail to comply. The new rules aim to designate countries posing cybersecurity concerns, potentially classifying their companies as high-risk suppliers. While the measure primarily targets Chinese vendors, European governments worry about U.S. tech firms' control over critical infrastructure. Lead negotiator Markéta Gregorová emphasized implementing systemic risk assessments rather than blacklisting, noting U.S. companies' poor compliance history with EU regulations.
The European Commission plans to introduce a Cloud and AI Development Act by May 27 to reduce Europe's dependence on foreign technology, particularly American cloud providers. Senior Commission official Thibaut Kleiner warned that without action, Europe risks becoming a technological "colony." The initiative faces lobbying pressure but aims to boost European cloud firms through public procurement and strengthen cybersecurity regulations. EU officials emphasize that companies increasingly recognize their survival depends on controlling their own technology infrastructure.
LRT
Vilnius is planning to introduce rail-based public transport by 2040 to address capacity limits of its current bus and trolleybus network. The city will expand existing services by 30% before 2030, but officials say further growth requires a new system. Authorities are considering metros, trams, or light rail solutions and have identified four potential corridors. Experts suggest a hybrid approach could balance cost and capacity, though construction would cause significant disruption. Funding and integration details remain unresolved pending feasibility studies.
Lithuania opened its national pavilion at the 61st Venice Biennale, featuring artist Eglė Budvytytė's work. Culture Minister Vaida Aleknavičienė framed the participation as political support for Ukraine, emphasizing that cultural spaces must not yield to aggression. Lithuania joined 21 other countries in urging the biennale to reconsider Russia's inclusion, the first since its 2022 invasion of Ukraine. The minister stressed culture's role in preserving identity and strengthening resilience during conflict.
Europe faces potential energy crisis risks from Iran war disruptions affecting oil, gas, and raw materials. However, Lithuania is exceptionally well-positioned, with secure crude oil supplies via its Mažeikiai refinery and natural gas access through the LNG terminal Independence. The primary threat isn't physical supply but potential subsidy races among EU governments that could artificially sustain demand and benefit adversaries. Lithuania's resilient economy, strong fiscal position, and recent credit rating upgrade demonstrate its capacity to weather global shocks without panic-driven government intervention.
EU policymakers are debating scrapping national vetoes in foreign policy to improve decision-making efficiency, particularly after Hungary's repeated blockages. Commission President von der Leyen supports qualified majority voting, arguing current rules no longer suit modern security challenges. Lithuania traditionally opposed abandoning unanimity to protect smaller states' sovereignty, but frustration with vetoes has softened its stance. President Nausėda warned that excessive unanimity risks paralysis, while the Foreign Ministry study suggests qualified majority voting could benefit Lithuania's EU agenda. However, experts caution that losing veto power could weaken smaller states' ability to defend vital interests. Treaty changes would be required for such reforms.
Two Lithuanian train derailments within 48 hours show no signs of sabotage, according to Prime Minister Inga Ruginienė. The first incident involved freight wagons derailing at Gudžiūnai station due to overheating wheel bearings and running gear, likely caused by poor maintenance or equipment failure. The second derailment near Jiesia occurred when a locomotive was mistakenly directed onto an incompatible track, bypassing required safety verification procedures. Authorities attribute both accidents to technical issues and human error rather than deliberate sabotage.
Lithuania's ruling Social Democratic Party is divided over the future of the Vilnius Concert and Sports Palace, a Soviet-era structure built in 1971 on a former Jewish cemetery site. One faction supports state control, proposing a national conference centre and memorial to Lithuanian independence movements. Others, including Prime Minister Inga Ruginienė, favour transferring it to city authorities, citing high reconstruction costs and financial constraints. The debate has stalled redevelopment for over a decade due to religious concerns about disturbing the historic Jewish burial ground. The party council will ultimately decide the building's fate.
Swedbank has revised down Lithuania's 2024 economic growth forecast from 3.5% to 3%, though the country is still expected to outperform Latvia and Estonia. Growth will be supported by pension withdrawals, strong exports, and record manufacturing output, which has increased 42% since 2020. High value-added service exports exceeded 10 billion euros last year. However, inflation is now forecast at 5.2%, higher than expected, driven by oil costs, tax changes, and rising labour expenses. Wages and pensions are expected to grow faster than prices overall, and unemployment should reach 6.8%.
Lloyds Banking Group, a major British financial institution, is acquiring Lithuania-registered electronic money institution Curve Europe, as approved by the Bank of Lithuania. The acquisition demonstrates Lithuania's appeal to global fintech companies seeking to establish and expand operations. Founded over 250 years ago, Lloyds provides banking, insurance, and investment services with over 60,000 employees. Curve Europe received its electronic money license from Lithuania's central bank in 2020. This acquisition follows similar recent fintech deals in the country.
Lithuania's parliament speaker Juozas Olekas supports joining a US-led coalition to secure shipping through the Strait of Hormuz, arguing it would benefit the country's economy and strengthen partnerships. President Gitanas Nausėda announced Lithuania received a US proposal for the "neutral" mission and will submit it to the State Defence Council for consideration, requiring parliamentary approval. Several countries have already committed to participation, though Lithuania has not yet made a final decision.
Apollo Global chief executive warns about ‘day one mark-ups’ of private equity funds sold to retail investors
Payout to bank’s former security chief was cut to $55mn two weeks after Trump appointee became SEC chair
Industry posts 5% returns in April as stocks including Intel, Alphabet and AMD soar
Countries and companies will need to compete for funds to meet their spending plans
Iran is reviewing a Washington-backed peace proposal while Trump says conflict will end if both sides strike agreement
Shortage of petrochemical inputs drives up prices of packaging for food and medical products
HSBC did not lend to collapsed mortgage provider MFS. It took a $400mn hit anyway
Prosecutors charge 30 for involvement in decade-long scheme that netted tens of millions of dollars in illicit profits
Private equity firm seeks to securitise future revenue from well production to private credit investors
Guidelines would see penalties suspended during energy crises
Hormuz closure prompts surge in buying from Asia and Europe
Move is rare exercise of Financial Conduct Authority’s competition law powers
Decision on GDP warrants brings Athens nearer to closing one of final chapters in its debt crisis
Wall Street bank becomes one of a handful of big lenders to offer service
Countries clash over framework for regulating sector’s emissions
Marc Rowan criticises paper returns of popular private equity funds sold to retail investors
FCA to investigate ‘poor practices’ and ‘aggressive marketing’ in sector gaining ground amid car finance mis-selling scandal
Warning that banks may find it difficult to manage risks comes a day after HSBC disclosed $400mn hit
Plus, more on emerging markets
The FDA approved sweet-flavored vapes after Trump pressured the agency, reversing previous policy despite concerns about youth smoking. Meanwhile, the Trump FDA has suppressed vaccine safety research. The article links rightward political shifts to declining U.S. life expectancy compared to other developed nations. Red states with weaker social safety nets and greater science skepticism show lower life expectancy rates. The author attributes this correlation to greed—wealthy donors opposing healthcare funding and corporations profiting from medical disinformation—and willful ignorance rooted in ideological hostility toward science. With upcoming health insurance losses and Medicaid cuts, preventable deaths are expected to surge.