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Read previewA draft budget approved by Germany's government shows the country is planning to halve its military aid to Ukraine next year. The draft budget slashes the amount promised to Ukraine to $4.35 billion in 2025, compared to the roughly $8.14 billion it is receiving this year, Reuters reported. There are fears that Trump will scale back or even totally halt US aid to Ukraine. Germany is the second-biggest donor country by volume of military aid to Ukraine and is Europe's biggest economy. As such, the draft budget is a "moral hazard" for the country, Loss said.
Persons: , Christian Lindner, Lindner, Rafael Loss, Donald Trump, Mary, Trump, he's, MAGA, JD Vance, there's, Olaf Scholz, Scholz Organizations: Service, Reuters, German, Business, European Council, Foreign Relations, Ukraine, Politico, Trump Loss, NATO Locations: Ukraine, Germany, Berlin, Europe
Here’s what to know if you’re planning to travel this weekend. David J. Phillip/APUS-based carriers American Airlines, United Airlines, Delta Air Lines, Allegiant Airlines, SunCountry and Frontier Airlines all reported issues on Friday. Crews have limits on their working hours, so staffing challenges cascade along with flight delays. That all depends on the type of ticket you have, the airline you’re flying with and whether you have travel insurance (which is always a good idea). If you’re set to travel soon, wherever you are in the world, it’s worth double checking your individual journey status before you travel.
Persons: What’s, It’s, CrowdStrike, David J, Phillip, Cirium, it’s, William Sikora III, you’re, ” Lousson Smith, Aaron Chown, Trenitalia Organizations: CNN, Microsoft, United Airlines, American Airlines, Delta Air Lines, Allegiant Airlines, Frontier Airlines, Federal Aviation Administration, FAA, Ryanair, Air, Turkish Airlines, KLM Royal Dutch Airlines, AirAsia, Dubai, Philadelphia International, Berlin, Amsterdam’s, Edinburgh Airport, CNN Travel, EU, Insurance, Airlines, British Airways, National Rail, Washington , D.C, Washington Metropolitan Area Transit Authority, Metropolitan Transportation Authority, MTA Locations: Air France, Europe, ” Spain’s, Madrid, Barcelona, Delta, , London's Victoria, London, Italy, Washington ,, New York
Reuters —Germany plans to halve its military aid to Ukraine next year, despite concerns that US support for Kyiv could potentially diminish if Republican candidate Donald Trump returns to the White House. German aid to Ukraine will be cut to €4 billion ($4.35 billion) in 2025 from around €8 billion in 2024, according to a draft of the 2025 budget seen by Reuters. Germany has faced criticism for repeatedly missing a NATO target of spending 2% of its economic output on defense. Days after Russia’s 2022 invasion of Ukraine, Chancellor Olaf Scholz announced a “Zeitenwende” – German for historic turning point - with a €100 billion special fund to bring the military up to speed. The defense budget is set to receive a meagre €1.3 billion more than in 2024, far below the €6.7 billion requested by Pistorius.
Persons: Donald Trump, Christian Lindner, Trump, JD Vance, Olaf Scholz, Kay Nietfeld, Chancellor Olaf Scholz, Boris Pistorius, Pistorius . Scholz, Zelensky, John MacDougall, , , Ingo Gaedechens Organizations: Reuters, House, Group, German, Washington, Ukraine, Trump, NATO, Social Democrats, Greens, Defense, Getty, CDU Locations: Germany, Ukraine, , Europe, United States, Russia, Irpin, Kyiv, Berlin
CNN —Ursula von der Leyen has been reelected to a second five-year term as president of the European Commission after a vote by EU lawmakers, as the continent’s mainstream seeks to reassert itself in the face of a resurgent far right. After a secret ballot, von der Leyen was reelected with 401 votes in favor and 284 against. Addressing the parliament before the lunchtime vote, von der Leyen said the next five years of her term “will define Europe’s place in the world for the next five decades. Von der Leyen was reelected after 401 EU lawmakers voted in favor of her presidency. Johannes Simon/Getty ImagesEarlier Thursday, von der Leyen published a 31-page policy proposal, setting out her priorities if she won a second term.
Persons: Ursula von der Leyen, von der Leyen, Von der Leyen, ” Von der, Angela Merkel, Emmanuel Macron –, Von der, Johannes Simon, Getty, ” Von der Leyen, Donald Trump, Viktor Orban’s, Vladimir Putin, Organizations: CNN, European Commission, EU, European Defense Union ”, European People’s Party, EPP, Socialist, Green, European Defense Union, Ukraine, Covid Locations: Strasbourg, France, Ukraine, Brussels, Europe, United States, Hungarian, Moscow
“Together we will make our allies share in the burden of securing world peace,” he said at the Republican National Convention in Milwaukee. “I think whoever wins the US race… it will be more America first,” Belgium’s Prime Minister Alexander De Croo told CNN. Europe needs to take care of its defense more.”Danish Prime Minister Mette Frederiksen argues Europe stepping up its commitment to its own security has nothing to do with the US. “We have to be more capable of defending ourselves, with a more and more aggressive Russia, not only when it comes to Ukraine,” she told CNN. Preserving European unity is critical to a long-lasting peace, he said.
Persons: JD Vance, , Vance, Donald Trump, Alexander De Croo, ” Finland’s, Alexander Stubb, , Sen, Will Lanzoni, Mette Frederiksen, Keir Starmer, Viktor Orban, Vladimir Putin, ” Orban, Ursula von der Leyen, Volodymyr Zelensky, Organizations: CNN, Republican, Republican National Convention, Munich, NATO, Trump, European Commission, EU, Ukraine Locations: Blenheim, Milwaukee, Ohio, Ukraine, Oxfordshire, Europe, States, Danish, Russia, Hungarian, Moscow, Ukrainian
"We cannot let the challenges of the recent past define our relationships of the future," Starmer said in a Wednesday statement from Downing Street. It comes as the specter of a second presidency from Republican candidate Donald Trump looms heavy over Europe after an assassination attempt over the weekend buoyed support for the former president. Both Trump and his newly announced running mate JD Vance have indicated that continued support for Europe — and in particular Ukraine — are not guaranteed under a second Trump administration. The Republican presidential nominee has repeatedly lambasted the continent's lack of defense spending, and has threatened to pull out of NATO, while Vance has shown ambivalence over U.S. intervention in foreign affairs. In anticipation, European NATO members have been upping their defense spending, including a new commitment from Starmer to spend 2.5% of U.K. gross domestic product (GDP) on defense.
Persons: Keir Starmer, John Healey, George Robertson, Winston Churchill's, Starmer, Donald Trump, Trump, JD Vance, Vance Organizations: British, Defence, Downing, Labour, European Political, Republican, Europe —, NATO Locations: London, England, OXFORD, Europe, Winston, Blenheim, Oxfordshire, Ukraine
OXFORD, England — Ukraine's President Volodymr Zelenskyy on Thursday hit out at European leaders who "betray" Kyiv's interests in a thinly veiled attack against Hungarian President Viktor Orban and his shadow peace talks. Zelenskyy told European leaders that Russia's President Vladimir Putin had so far failed to sow disunity within the region, but noted that EU member states — and one weak link in particular — could yet bow to temptation or blackmail. "He [Putin] may try to approach you or go to some of your partners individually, trying to tempt or pressure you, to blackmail you so that one of you betrays the rest, weakening our unity," he said in opening remarks at the European Political Community summit at Blenheim Palace, England. The Ukrainian leader said that it was down to individual leaders to decide how to act and "what legacy to leave." But, in an apparent reference to Orban's recent meeting with Putin in Moscow, he noted that those who act against the continents' interests should not be considered part of group matters.
Persons: Volodymr Zelenskyy, Viktor Orban, Zelenskyy, Vladimir Putin, , Putin Organizations: OXFORD, Putin Locations: England, Blenheim, Moscow, Europe, Ukraine
EU Commission head von der Leyen elected for second term
  + stars: | 2024-07-18 | by ( ) www.cnbc.com   time to read: +2 min
Ursula von der Leyen reacts after being chosen President of the European Commission for a second term, at the European Parliament in Strasbourg, France, July 18, 2024. European Commission President Ursula von der Leyen was elected for a second term on Thursday after pledging to create a continental "defence union" and stay the course on Europe's green transition while cushioning its burden on industry. It will decide whether we shape our own future or let it be shaped by events or by others," von der Leyen said ahead of a secret ballot on her candidacy. Von der Leyen, a centre-right former German defence minister, pledged to create "a true European Defence Union", with flagship projects on air and cyber defence. Von der Leyen also promised a raft of climate policies including a legally-binding EU target to cut emissions 90% by 2040, compared to 1990 levels.
Persons: Ursula von der Leyen, von der, von der Leyen, Von der, Von der Leyen, Viktor Orban's, Vladimir Putin, Donald Trump Organizations: European Commission, Green, Russia, European Defence Union, Hungarian, Defence, NATO, U.S Locations: Strasbourg, France, Ukraine, Moscow, Europe, United States
CNN —Hungary’s Prime Minister Viktor Orban has told European leaders leaders that Donald Trump is “ready to act as a peace broker” between Russia and Ukraine if elected president, according to a letter seen by Reuters, amid concerns across the continent that Trump would attempt to force Kyiv into ceding territory to Moscow. Orban’s letter, addressed to European Council President Charles Michel and sent to all European Union leaders, was written in the wake of his controversial meetings with former President Trump, Russian President Vladimir Putin and Chinese President Xi Jinping. “I can […] surely state that shortly after his election victory, he will not wait until his inauguration, [Trump] will be ready to act as a peace broker immediately. But his visits with Putin, Xi and Trump have gone down poorly with EU lawmakers, who have accused Orban of vitally “misrepresenting” and “undermining” the EU’s stance on foreign policy. A letter signed by 63 European lawmakers, addressed to the three EU chiefs, said Orban had “caused significant damage” through his meetings.
Persons: CNN —, Viktor Orban, Donald Trump, Trump, Charles Michel, Vladimir Putin, Xi Jinping, , ” Orban, Orban, pare, ” Trump, Joe Biden, Russia –, Orban –, , Putin, Volodymyr Zelensky, Trump’s, Xi, Ursula von der Leyen, Roberta Metsola Organizations: CNN, CNN — Hungary’s, Reuters, European, European Union, Ukraine “, EU, Ukrainian, , European Council Locations: Russia, Ukraine, Moscow, Russian, Hungarian, Beijing, Florida, Kyiv, Hungary
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurope caught between 'a rock and a hard place' in U.S.-China relations, CIO saysFabiana Fedeli, equities, multi-asset and sustainability CIO for at M&G Investments, discusses potential U.S. and EU tariffs on China and how a Trump presidency might affect investments.
Persons: Fabiana, Trump Organizations: G Investments Locations: U.S, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU Chamber of Commerce in China discusses what a Trump presidency would mean for EU-China tiesJens Eskelund, president of the European Union Chamber of Commerce in China, says a Trump presidency could mean a "broader application of tariffs" not just on China but also on trade partners with whom the United States has a trade deficit, such as Europe.
Persons: Trump, Jens Eskelund Organizations: EU, of Commerce, European Union Chamber of Commerce Locations: China, United States, Europe
Former US President Donald Trump during a campaign event at Trump National Doral Golf Club in Miami, Florida, US, on Tuesday, July 9, 2024. "Trump's re-election would thus pose a significant downside risk to our otherwise constructive growth forecast for the Euro area." Trade policy uncertainty, added defense and security pressures and spillover effects from U.S. domestic policies on, for example, taxes could impact Europe, they explained. Trade tensionsTrump's trade policy, and the uncertainty around it, could be one factor that impacts Europe's economy, just as it did during his last presidency, analysts Stehn and Moberly said. In 2018 and 2019, uncertainty about trade policy reduced industrial production in the euro area by around 2%, they estimated.
Persons: Donald Trump, Eva Marie Uzcategui, Goldman Sachs, Jari Stehn, James Moberly, Trump's, Trump, Joe Biden, Moberly Organizations: Trump National Doral Golf Club, Bloomberg, Getty, White, Trump, European Union, EU, . Defense, NATO, U.S, Stehn Locations: Miami , Florida, Europe, Pennsylvania, U.S, Germany, Stehn, Moberly, Ukraine
Stakes are high for the meeting, which takes place every five years and is known as China’s third plenum. It has historically been a platform for the party’s leadership to announce key economic reforms and policy directives. China’s gross domestic product expanded by 4.7% in the April to June months, compared to the previous year. But observers of China’s opaque political machine don’t believe there will be fundamental economic reforms this time around. Uncompleted residential buildings at a real estate project on the outskirts of Shenyang in China's Liaoning province earlier this year.
Persons: Hong Kong CNN —, Xi Jinping, Xi, , Xi’s, Andrea Verdelli, They’ll, , Neil Thomas, Jing Qian, Li Shangfu, Qin Gang, Li Yuchao, Xu Zhongbo Organizations: Hong Kong CNN, Communist Party, West, Reuters, party’s Central, US, Congress, Bloomberg, Getty, Observers, ” Asia Society Center, China, Tech, EU, Central Committee, Foreign, People’s Liberation Army Rocket Force Locations: China, Hong Kong, Beijing, United States, Europe, party’s, Shenyang, China's Liaoning, China's Shandong
CNN —Israel has targeted Hamas’ military chief Mohammed Deif in a strike on a designated humanitarian zone in southern Gaza which killed at least 90 Palestinians. He has led the Palestinian militant group’s armed wing for more than two decades. This image taken from video and released by Hamas on August 26, 2005, shows a man identified as Mohammed Deif. He became a founding member of Hamas’ armed wing, the Qassam Brigades, in the early 1990s. Deif, a man who lives his life in the shadows, has managed to survive for decades while running Hamas’s armed wing.
Persons: CNN —, Mohammed Deif, Deif, Khan, Mohammad Diab Ibrahim al, Masri, El, , Graves, Mohammed Salem, Reuters Deif, , Ismail Haniyeh Organizations: CNN, EU, AP, Hamas, Qassam, Israel, Reuters, Criminal Court Locations: CNN — Israel, Gaza, Israel, Jerusalem, Tel Aviv, Palestine, Israeli
CNN —Iran’s President-elect Masoud Pezeshkian said he looks forward to improving ties with Europe, despite accusing the continent of backtracking on commitments to alleviate the impact of US sanctions. “Despite these missteps, I look forward to engaging in constructive dialogue with European countries to set our relations on the right path, based on principles of mutual respect and equal footing,” Pezeshkian wrote in the English-language Tehran Times newspaper. European countries made 11 commitments to Iran to “try to salvage the agreement and mitigate the impact of the United States’ unlawful and unilateral sanctions on our economy,” Pezeshikian said. Iran’s Supreme Leader, Ayatollah Seyyed Ali Khamenei, has the final say on all matters of state. Pezeshkian will ultimately defer to Khamenei, who has condemned those seeking improved relations with the West, on matters of foreign policy.
Persons: CNN —, Masoud Pezeshkian, ” Pezeshkian, Pezeshkian, Donald Trump, , ” Pezeshikian, , Saeed Jalili, Seyyed Ali Khamenei, Khamenei Organizations: CNN, CNN — Iran’s, Tehran Times, United, Iran’s Locations: Europe, EU, France, Germany, Iran, United States, Washington, Pezeshkian
Finland has accused neighboring Russia of weaponizing migration by encouraging scores of migrants from countries such as Syria and Somalia to cross the border, an assertion the Kremlin denies. Helsinki believes Moscow is promoting the crossings in retaliation for Finland joining NATO, which backs Ukraine against Russia’s invasion. Finnish border guards and migrants with bicycles are pictured at the international border crossing at Salla, Finnish Lapland on November 21, 2023. Orpo urged migrants who were considering coming to Europe through Russia not to embark on the journey. The access to the borders orchestrated by Russia will not lead to access to Finland or Europe.”Moscow has denied such an intention.
Persons: Reuters —, Petteri Orpo, ” Orpo, Jussi Nukari, Mari Rantanen, Finland’s, Orpo, “ Don’t, , ” Moscow Organizations: Reuters, Helsinki, NATO, Russia’s, Getty, Finnish Border Guard, Locations: Russia, Helsinki, Finland, Syria, Somalia, Moscow, Ukraine, EU, Salla, Finnish Lapland, AFP, Poland, Lithuania, Belarus, Europe, Russian
Elon Musk's X is in breach of EU online content rules as the social media platform uses "dark patterns" to deceive users, the European Commission said Friday. The body's preliminary view, published Friday, is that the platform has broken rules regarding dark patterns, advertising transparency and data access for researchers. X's use of the blue checkmark for "verified accounts" does not correspond to industry practices as anyone can subscribe and obtain a verified status, the commission said. It added that there was evidence of "motivated malicious actors" abusing the verified status to deceive users. If the commission's views are confirmed, X could face a fine of up to 6% of its global annual turnover.
Persons: Elon Musk, Elon Musk's, Thierry Breton Organizations: SpaceX, Tesla, European Commission, Digital Services Locations: Beverly Hills , California
Cfoto | Future Publishing | Getty ImagesBEIJING — China's imports fell in June, missing expectations for slight growth, while exports rose more than expected, customs data released Friday showed. China's imports fell by 2.3% in June from a year ago in U.S. dollar terms. Those figures lifted year-to-date imports by 2%, and exports by 3.6% in the first six months compared with the same period a year earlier. watch nowEU's trade with China fell in the first six months of 2024, with imports and exports both declining. China's trade with the U.S. was down slightly in dollar terms during the first half of the year, as imports from the U.S. fell 4.9%, though exports rose 1.5%.
Organizations: Getty, BEIJING, U.S ., Association of Southeast Asian Nations, European Union, U.S Locations: Qingdao, Shangdong, China, U.S, Brazil
European regulators said Elon Musk's X deceives users and breaches EU rules. The European Commission cited issues with data access, advertising transparency, and "dark patterns." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk's X deceives its users and breaches online content rules, the European Commission said on Friday. The body said X's blue checkmark system for "verified accounts" deceives users as anyone can pay to obtain verified status.
Persons: Elon Musk's, , Elon Organizations: Service, European Commission
EU accuses Elon Musk’s X of misleading users
  + stars: | 2024-07-12 | by ( Olesya Dmitracova | ) edition.cnn.com   time to read: 1 min
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EU antitrust regulators on Thursday accepted commitments from Apple to allow access to its tap and go payments technology to rivals, bringing an end to a four-year investigation. "From now on, Apple can no longer use its control over the iPhone ecosystem to keep other mobile wallets out of the market. The iPhone maker now has until July 25 to implement the commitments, Vestager said. All developers will then be able to offer mobile wallets for iPhones with the tap and go technology, she explained. It added that there would be no changes to Apple Pay or the Apple Wallet following the probe.
Persons: Margrethe Vestager, Apple, Vestager Organizations: European Union, Apple, EU, European Commission, Economic Locations: Europe
London CNN —Apple has yielded to pressure by European regulators to give rivals access to the contactless payments technology on iPhones, meaning that their users will no longer be limited to the Apple Pay mobile wallet. Under the agreement, third-party mobile wallet developers will gain free access to the standard technology used for contactless payments with iPhones, known as near-field communication (NFC) technology. Apple will also allow iPhone users to choose which mobile wallet to make the default wallet on their phones. “Apple Pay and Apple Wallet will continue to be available in the European Economic Area for users and developers.”The European Commission first raised objections against Apple’s tap-to-pay practices in 2022, having opened a formal antitrust investigation into Apple Pay two years earlier. That means rivals wanting to create apps or wallets using the tap-to-pay features on iPhones have been unable to do so and users have been forced to use Apple Pay for mobile payments.
Persons: London CNN —, Margrethe Vestager, Apple, , ” Vestager, Organizations: London CNN, London CNN — Apple, Apple, European Union, Digital Markets, European Commission, Economic, CNN, “ Apple, Economic Area, NFC
Hong Kong CNN —China is a “decisive enabler” of Russia’s war against Ukraine, NATO leaders said Wednesday, as the defense alliance hardens its stance on Beijing and the “systemic challenges” they say it poses to their countries’ security. For the third consecutive year, leaders of New Zealand, Japan and South Korea attended the NATO leaders’ summit in another sign of closer ties between the bloc and those countries, as well as Australia. NATO’s increasing focus on AsiaThe NATO leaders’ declaration is the latest step in what has been the bloc’s gradual hardening of tone on China in recent years. NATO leaders first mentioned the need to jointly address “opportunities and challenges” posed by China in a 2019 declaration, before moving to refer to “systemic challenges” the country poses in 2021. “The Indo-Pacific is important for NATO, given that developments in that region directly affect Euro-Atlantic security,” the leaders said in their declaration.
Persons: , Joe Biden, China’s, , Xi Jinping, Vladimir Putin, Sergei Bobylov, , Putin, Kim Jong Un Organizations: Hong Kong CNN, NATO, US, , Getty Images China, Union, European Union, EU, Wednesday, North Locations: China, Hong Kong, Ukraine, Beijing, Washington, Russia, Moscow, North America, Europe, Asia, New Zealand, Japan, South Korea, Australia, Russian, , North Korea, Iran, Pyongyang, Tehran, North, Pacific
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU tariffs on China EVs to accelerate manufacturers' shift to Europe, consultancy saysStephen Dyer, co-leader of the Greater China business at AlixPartners, says the tariffs "will affect a lot of Chinese automakers and their plans for Europe, but in the long term, I think it will simply accelerate their already in-place plans to set up local manufacturing there."
Persons: Stephen Dyer Locations: China, Europe, Greater China, AlixPartners
CNN —For years, Airbnb has known some of its hosts have used hidden cameras to secretly spy on guests, invading their most private and intimate moments. A CNN investigation found the use of hidden cameras is a persistent problem in the industry. The Airbnb representative testified that the company generated 35,000 customer support tickets about surveillance devices in the preceding decade. An Airbnb spokesperson told CNN that a single report could create multiple tickets. Airbnb makes “every effort” to support police investigations of hidden cameras, the company told CNN in a written statement.
Persons: Airbnb, ” Airbnb, “ I’ve, , Kim van Sparrentak, Organizations: CNN, European Union, EU Locations: United States
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