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Economist

Russia is stumbling on the battlefield

Moscow's May 9th Victory Day parade this year notably lacked military hardware for the first time in two decades. Tanks and vehicles were absent due to security concerns about Ukrainian drone attacks on staging areas near Red Square. In preparation, authorities cut mobile internet services in Moscow and St. Petersburg and redeployed air-defense systems from remote regions across the country.

A Congolese militia wants to sell critical minerals to Donald Trump

M23, a Congolese rebel group controlling significant territory in Africa's second-largest country, enforces extraordinary security measures for interviews with its leaders. Visitors undergo thorough weapons searches by armed men, have notebooks inspected for poison, and must surrender electronic devices and watches outside meeting rooms to prevent tracking or explosives.

Can Mukesh Ambani pull off his biggest gamble yet?

Reliance Industries plans to spin off Jio Platforms, its telecommunications division, through an initial public offering expected to be India's largest. The flotation is projected to value Jio at $130-150 billion and raise approximately $3.5 billion. This move follows a decade of substantial capital investments that have transformed Reliance from primarily an oil-and-chemicals company into a diversified business empire deeply integrated throughout Indian society.

America faces another grocery-price shock

Americans consume more tomatoes than any other vegetable after potatoes, incorporating them into burgers, pizza sauce, and ketchup. However, shoppers now face significantly higher prices, with tomato costs rising nearly 25% year-over-year. This price surge mirrors previous inflation issues experienced with eggs, affecting a staple ingredient in American cuisine.

Politico

Putin’s shadow fleet faces fresh EU sanctions blitz

The EU is preparing its 21st sanctions package against Russia, expected in late June or early July, targeting the shadow fleet of aging tankers that transport Russian oil, as well as banks, military companies, and firms selling stolen Ukrainian grain. The new sanctions aim to disrupt Russia's revenue streams and increase pressure on Putin regarding Ukraine peace negotiations. With Hungary's change in leadership, previously blocked sanctions measures—including those targeting Patriarch Kirill of the Russian Orthodox Church—may now advance. EU officials believe Russia's weakening economy presents an opportune moment to strengthen sanctions while Ukraine's improved battlefield position and €90 billion EU loan enhance its negotiating leverage.

The far right’s crusade against French cinema

French filmmakers fear a far-right National Rally victory in next year's presidential election would dismantle state funding systems that have made France a global cinema leader. The party has threatened to dissolve the Centre National du Cinéma, arguing it wastes taxpayer money on commercially unsuccessful films. Industry leaders contend the funding system generates €12.6 billion in annual value, supports 260,000 jobs, and attracts foreign investment. France led European cinema attendance in 2024 and exported more films than any other EU country. Directors warn eliminating subsidies would undermine France's competitive advantage against American cultural dominance.

NATO backs renewables as solution to energy security, despite US skepticism

NATO is backing renewable energy as essential to military security and operational independence, particularly given vulnerabilities exposed by Middle East conflicts. A NATO-backed study recommends transitioning from fossil fuels to alternative sources like solar and wind power for military camps, citing improved energy efficiency and reduced logistical challenges. However, this position conflicts with the Trump administration's pro-fossil fuel stance. The initiative gains urgency as global energy crises demonstrate risks of fuel import dependency, exemplified by Ukraine's diesel shortages during conflict.

Keir Starmer has one last chance to avoid Labour leadership chaos

British Prime Minister Keir Starmer faces a potential leadership challenge after Labour's poor mid-term election results, losing nearly 1,500 council members and control of the Welsh parliament. Over 40 MPs have called for his resignation. Starmer plans a major speech Monday outlining policy changes and "vision and values" to demonstrate renewed direction. Party insiders believe his survival depends on this speech and subsequent legislative announcements when parliament reconvenes Wednesday. Potential challengers including Health Secretary Wes Streeting and former Deputy PM Angela Rayner are positioning themselves, though a formal contest requires 81 MP nominations.

EU countries weigh letting industry kill more wildlife

EU member countries are considering relaxing wildlife protection rules to expedite industrial projects, including renewable energy and data centers. The European Commission's December proposal would redefine "deliberate" killing of protected species under environmental laws, allowing occasional deaths if developers adopt mitigation measures. Cyprus has proposed amending the Birds and Habitats Directives to authorize deliberate killing or disturbance of protected species during project construction and operation, provided appropriate safeguards are implemented. EU officials will discuss this proposal Monday, highlighting tensions between environmental protections and industrial revival efforts.

China is going dark to develop its own Mythos, German cyber chief fears

Germany's cybersecurity chief warned lawmakers that Chinese tech companies are developing advanced AI systems with superhacking capabilities similar to Anthropic's Mythos model. She noted that Chinese providers have stopped updating open AI models, suggesting development has moved behind closed doors. The warning highlights Europe's disadvantage: the EU lacks access to test Mythos, while the U.S. and China advance their AI technologies. European officials are urging the development of independent European AI-based cybersecurity systems to address this growing threat.

Frontex official warns of post-war Ukraine arms-smuggling danger

Frontex Deputy Executive Director Lars Gerdes warned of a "high" risk of weapons smuggling from Ukraine to the EU following a potential peace deal with Russia. He compared the threat to post-Yugoslav conflicts, when illegal arms flooded Europe. Gerdes stated that Frontex has reinforced border presence along Ukraine's western border and has been preparing since the war's beginning, noting that a ceasefire could create conditions for large-scale weapons smuggling as numerous weapons and desperate people converge.

Tehran responds to US peace proposal, Iran state media says

Iran formally submitted its response to a U.S. peace proposal on Sunday through Pakistani mediators, focusing on ending regional hostilities. The submission comes after a ceasefire brokered by Pakistan on April 8. However, tensions persist as the U.S. military recently disabled Iranian oil tankers near the Strait of Hormuz. Secretary of State Rubio expressed hope for serious negotiations, while Trump threatened stronger military action if Iran rejects a deal. Iranian officials accused the U.S. of pursuing military aggression despite diplomatic opportunities.

Iran reportedly demands assurances for World Cup

Iran's Football Federation is demanding FIFA and North American World Cup hosts guarantee visas for players and coaches, including those with military service ties to Iran's Revolutionary Guard Corps, designated as terrorist organizations by the U.S. and Canada. Iran also seeks enhanced security assurances and respect for its flag and national anthem during the June tournament. FIFA President Infantino confirmed Iran's participation, stating the competition should unite people.

Former Polish Justice Minister Ziobro flees to US

Zbigniew Ziobro, Poland's fugitive former Justice Minister, has arrived in the United States on a visa allegedly approved personally by President Trump. Ziobro fled Hungary after its new leader promised extradition proceedings. He faces charges in Poland for alleged misuse of public funds and deploying Pegasus spyware against political opponents, which he denies as politically motivated. Polish authorities have revoked his passport and launched extradition proceedings. Ziobro has been hired as a political commentator by right-wing broadcaster TV Republika.

Former PM Philippe launches presidential campaign to take on far right in France

France's center-right former Prime Minister Édouard Philippe launched his 2027 presidential campaign in Reims, positioning himself as the leading centrist candidate to challenge far-right frontrunners Marine Le Pen and Jordan Bardella. Philippe unveiled his electoral team and campaign priorities, emphasizing an optimistic vision for France and promising proposals on taxes, pensions, and crime. He aims to unite the center-right by year's end before broadening his appeal, while attacking both far-right and far-left populism as dangerous.

Iran war pushes Portugal to halve fossil fuel use over next 10 years

Portugal plans to halve its fossil fuel dependence within eight to ten years, accelerating existing plans due to rising oil and gas costs from the Iran conflict. Although Portugal already generates 80 percent of renewable electricity, fossil fuels still comprise over 60 percent of total energy consumption across transport, industry, and heating. The government will soon announce specific measures and impose a windfall tax on energy companies. Portugal favors an EU-wide approach to such taxation to maintain market integrity.

LRT

Storks have taken over a Lithuanian village – the locals couldn't be happier

In the Lithuanian village of Avižieniai, around 30 pairs of white storks return each spring from Africa to nest on electricity poles and trees. The birds, considered symbols of good fortune in Lithuanian culture, demonstrate remarkable loyalty to their mates and nesting sites. Males arrive first to prepare nests, then reunite with their partners. The storks forage in local gardens and fields, carefully dividing feeding territories. Residents view the birds as neighbors, finding their presence meditative and integral to village life, with some joking the village should be renamed after them.

‘Not funny anymore’: Would government-sponsored discos raise Lithuania’s fertility rates?

More than half of Lithuanians don't plan to have children or remain undecided, according to a survey revealing concerns about the future, relationship difficulties, and social isolation. A poll found 40% reject parenthood while 14% are uncertain. Experts attribute the trend to financial anxiety, difficulty finding partners, and emotional unreadiness. Mental health issues have risen significantly, with anxiety and withdrawal affecting 56% of Lithuanians. The government is considering interventions including social events and expanded access to assisted reproduction services to address the demographic crisis.

FT FT Markets

Blogs

Krugman

Is Europe in Economic Decline?

European economies face persistent negative perceptions, with critics like Trump's Commerce Secretary Howard Lutnik claiming Europe is economically declining and comparable to poor U.S. states. While legitimate concerns exist about productivity gaps, as highlighted in Mario Draghi's 2024 competitiveness report, these critiques often misrepresent reality. Europe remains an economic superpower alongside the U.S. and China, and by many important measures maintains comparable performance. The author argues that exaggerated American triumphalism obscures Europe's genuine strengths and democratic advantages in an increasingly authoritarian world.