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European Union
Europe faces €500 billion climate adaptation bill through 2035
Europe faces a climate adaptation bill of roughly €500 billion ($571 billion) through 2035 as the continent shifts from treating extreme weather damage as isolated emergencies to planning for a sustained cycle of rebuilding and resilience investment, according to new…
Russia lowers 2026 gas output and export forecasts as Europe exits
Russia's Economy Ministry has lowered its 2026 natural gas production and export forecasts, according to a draft government document first reported by Reuters, as the European Union prepares to fully phase out Russian gas purchases starting next year.
EU fuel costs up €53B since Iran war, report finds
Rising road fuel prices have cost the European Union an estimated €53 billion since the start of the Iran war, equivalent to roughly €270 million per day, according to a report published on Wednesday by Brussels-based environmental group Transport &…
EU proposes extra €2 fee on Chinese e-commerce parcels
Low-value e-commerce shipments from China to the European Union fell 65% year over year in August 2026, as a €3 customs duty introduced on July 1 continues to reshape cross-border parcel flows. Now, a proposed €2 handling fee set to…
China presses EU auto lobby chiefs to help resolve hybrid trade standoff
Chinese Commerce Minister Wang Wentao pressed the heads of Europe's two most influential automotive industry bodies on Monday to help broker a resolution to the escalating China-EU car trade dispute, days after Beijing rejected Brussels' request for voluntary curbs on…
ASML exec says company has zero sales in Europe
ASML Holding, Europe's most valuable company, did not sell a single chip-manufacturing machine on the continent in the second quarter of 2026, a stark illustration of Europe's failure to keep pace with the global semiconductor investment wave driven by artificial…
ECB says China’s industrial rise is crowding out EU exporters
The European Central Bank warned Tuesday that China's rapid industrial transformation is crowding European firms out of global markets, with German companies bearing the brunt of intensifying competition in sectors that have long underpinned European economic growth.
IMF warns AI could widen inequality across Europe
Artificial intelligence could lift European productivity by about 1% over five years but risks widening inequality, straining power grids and deepening the bloc's dependence on foreign technology, the International Monetary Fund warned in a paper prepared for EU finance ministers…
Solar overtakes wind as EU’s top renewable source
Renewable energy sources accounted for 54.1% of all electricity generated in the European Union during the second quarter of 2026, according to data published by Eurostat on Friday. The figure marks a slight dip from the 54.3% recorded in the…
OpenAI failed to report AI safety incident under EU law
The European Commission has confirmed that OpenAI failed to formally report a safety incident involving its AI agents and the RubyGems software registry under the EU's mandatory AI Act disclosure rules, according to an exclusive report by Euractiv published on…
EU finance ministers meet in Dublin as gas storage hits alarming lows
Europe is heading into winter with its gas storage facilities well below seasonal norms, benchmark prices at their highest since late 2022, and finance ministers converging on Dublin to discuss how to shield households and businesses from a potential price…
EU’s first full-scale CO₂ storage site opens in Denmark
King Frederik X of Denmark on Friday officially inaugurated the European Union's first full-scale carbon dioxide storage facility, marking a milestone in the bloc's efforts to decarbonize heavy industry without dismantling it.
European leaders scramble to shield consumers from surging diesel prices
Across Europe, governments are scrambling to shield consumers from surging fuel prices as the Middle East conflict disrupts global oil supply routes, pushing diesel costs to near-record levels and sparking protests in France.
Carney welcomes EU associate membership bid despite Trump threats
Canadian Prime Minister Mark Carney on Thursday embraced the prospect of Canada becoming the European Union's first associate member, telling the European Parliament in Strasbourg that "Europe and Canada are each strong. Europe and Canada are even stronger together."
Trump calls Canada-EU associate membership a ‘hostile act’
U.S. President Donald Trump on Wednesday called the European Union's proposal to make Canada its first "associate member" a potential "hostile act," threatening to impose tariffs on Europe or cut trade ties if the plan moves forward.
Von der Leyen to invite AI labs for slowdown talks
European Commission President Ursula von der Leyen used her annual State of the Union address on Wednesday to endorse calls from leading AI developers to slow the pace of frontier artificial intelligence research, while unveiling sweeping new rules to restrict…
Von der Leyen invites Canada to be EU’s first associate member
European Commission President Ursula von der Leyen on Wednesday invited Canada to become the European Union's first associate member, a proposal made during her annual State of the Union address in Strasbourg with Canadian Prime Minister Mark Carney in attendance.…
Bond market fears thwart EU’s energy crisis spending plan
Rising government borrowing costs across Europe are undermining the European Commission's plan to give member states fiscal room to invest in energy independence, with only Italy and Greece applying for the looser budget rules more than three months after Brussels…
17 European telecom CEOs warn Huawei ban could cost €40B
Seventeen chief executives from Europe's largest telecommunications companies have issued an open letter demanding a "course correction" from EU policymakers, warning that proposed rules to ban Chinese network equipment makers from the bloc's infrastructure could cost the industry up to…
Top economists warn Europe faces ‘permanent’ AI marginalization
A coalition of Europe's most prominent economists, politicians, and AI experts on Monday published a sweeping strategy warning that the continent risks permanent dependence on foreign AI powers unless European leaders act with urgency this year.
EU fails to extend Russia sanctions a day before they expire
European Union ambassadors failed on Monday to reach the unanimous agreement needed to extend individual sanctions against Russia, leaving asset freezes on more than 3,000 people and entities at risk of lapsing when the measures expire on Tuesday, September 15.
Carney seeks ‘unique alliance’ with EU, not membership, amid U.S. trade war
Canadian Prime Minister Mark Carney declared on Sunday that Canada is seeking a "unique alliance" with the European Union — not membership — as Ottawa accelerates its strategic pivot away from the United States amid a deepening trade war with…
EU truckmakers seek 3-year delay to 2030 CO2 targets
Europe's seven largest truck and bus manufacturers called on the European Union on Monday to postpone compliance with 2030 CO2 reduction targets by three years, warning that inadequate charging infrastructure and high energy costs have made zero-emission vehicles unviable for…
EU capitals race to agree on ECB leadership package by year’s end
Eurozone governments are engaged in intensifying behind-the-scenes negotiations over a sweeping leadership overhaul at the European Central Bank, with a "grand package" covering three of the institution's most senior roles expected to be agreed by year's end, according to the…
Europe launches unified stock market data feed across 130 venues
Europe's equity markets reached a long-awaited milestone on Monday as the continent's first consolidated tape for stocks and exchange-traded funds went live, creating a single data feed that aggregates prices and trading activity from roughly 130 venues across the European…
Canada pursues EU ‘associate member’ status amid trade war with U.S.
Canadian Prime Minister Mark Carney has proposed that Canada become an "associate member" of the European Union, a move that would mark a dramatic reorientation of a country long tethered economically and diplomatically to the United States. The initiative, first…
Netherlands cuts gas storage target as Europe braces for tough winter
European industry is heading into a difficult winter as a fresh spike in energy costs threatens to shut down factories across the continent. Benchmark Dutch TTF natural gas futures surged above €80 per megawatt-hour in early September, the highest level…
EU gasoline up 24%, diesel up 33% since Middle East war
European energy markets are under mounting strain as natural gas prices climb to their highest level in years and fuel costs at the pump continue to rise, driven by the escalating conflict between the United States and Iran and dwindling…
Von der Leyen draws antitrust fire for backing EU space merger
European Commission President Ursula von der Leyen publicly backed Project Bromo, the proposed merger of the space divisions of Airbus, Leonardo, and Thales, during the International Space Summit in Paris this week — a move that prompted accusations of overstepping…
Paris space summit closes with €20B in deals, Iris² contracts
The first International Space Summit concluded at the Grand Palais in Paris on Thursday, September 10, with France and the European Union throwing their weight behind Iris², the bloc's flagship satellite communications constellation. The two-day event, which drew 90 countries…