Shares in UK defence companies, including Babcock, BAE Systems, and Rolls-Royce, surged after Andy Burnham appointed John Healey as chancellor, sparking investor hopes for increased military spending. An analyst, however, cautioned against immediate windfalls due to competing demands.
Germany experienced a significant increase in registered child sexual abuse cases over the past five years, with 17,126 cases recorded in 2025 — a 4.7% rise from 2024. Interior Minister Alexander Dobrindt described the figures as highly alarming, emphasizing the need for better digital protection of children.
Andy Burnham, Britain's new prime minister, is largely unknown in Brussels but is set to lead an EU-UK summit this autumn, inheriting Keir Starmer's reset agenda. Key issues include trade barriers, a youth exchange scheme, and defence cooperation, with his Brexit stance creating both hope and caution.
John Healey, a veteran Labour politician, has been appointed Chancellor of the Exchequer in Andy Burnham's cabinet, replacing Rachel Reeves. His appointment follows his recent resignation as defence secretary over the government's "well short" defence investment plan, highlighting his commitment to increased defence spending and economic growth.
Prime Minister Andy Burnham announced an immediate removal of VAT from electricity bills, reducing them by £45 annually from October. The £850m cost will be funded by scrapping the digital ID scheme, though former chief secretary Darren Jones questioned the funding mechanism.
German Chancellor Friedrich Merz acknowledged that the country's prolonged energy crisis stems from the loss of Russian gas supplies, impacting industry with soaring costs. Germany's economy contracted, and the EU plans to fully ban Russian gas by 2027, despite mounting pressure from fuel prices.
Andy Burnham has become the UK's sixth prime minister in a decade, appointing John Healey as Chancellor and outlining plans to cut energy bills and bus fares. He aims to repair Thatcher-era damage, invest in infrastructure, and address the cost of living, while facing market jitters over borrowing.
John Healey, who recently resigned as Sir Keir Starmer's defence secretary over concerns about defence investment, has been appointed Chancellor of the Exchequer in Andy Burnham's cabinet, replacing Rachel Reeves. His return to a vital government role is a surprise given his principled resignation.
John Healey, now Chancellor, faces pressure to deliver on his previous demands for increased UK defense funding, having resigned as Defence Secretary over the Treasury's "unwillingness" to properly fund the military's modernization plans.
Andy Burnham, the incoming Prime Minister, surprised many by appointing John Healey as Chancellor, despite intense lobbying for other candidates like Ed Miliband, Shabana Mahmood, and Rachel Reeves. Healey's selection signals a focus on borrowing rules, re-industrialisation, devolution, and increased defence spending, potentially through "defence bonds."
New UK Prime Minister Andy Burnham is adopting a cautious approach to economic policy, aiming to balance bold change with fiscal stability to avoid market jitters. His team emphasizes learning from past mistakes, appointing experienced figures like John Healey as Chancellor, and focusing on targeted announcements rather than 'big bang' policies.
Chancellor Merz considers Cabinet reshuffle after Jens Spahn's resignation, train security guard critically injured, Klopp nears deal with Red Bull to become Germany's coach, and Rhine river levels show signs of recovery.
Andy Burnham is set to become UK Prime Minister on Monday following Sir Keir Starmer's resignation. Intense speculation surrounds his choice for Chancellor, with Yvette Cooper Mahmood, Ed Miliband, Wes Streeting, and Pat McFadden among the frontrunners, each presenting different implications for financial markets and Labour Party dynamics.
Andy Burnham's vision to reform Westminster politics by ending briefing culture and factionalism faces immediate challenges within Labour, with internal disputes over policy and roles emerging despite his calls for unity as the new leader.
German Chancellor Friedrich Merz suggested a potential government reshuffle following Jens Spahn's resignation as CDU parliamentary leader. Spahn quit after revelations he had a child via surrogacy, banned in Germany, leading to hypocrisy accusations against the former health minister.
Rachel Reeves has advised Andy Burnham, poised to become Labour leader and PM, to arrive in Downing Street with a "worked through plan" to tackle incoming "shocks and challenges". Burnham's bid is backed by 322 MPs. Reeves noted Burnham inherits a stronger economy than she and Starmer did.
Rachel Reeves advised Andy Burnham, poised to become Labour leader and PM, to arrive in Downing Street with a "worked-through plan" to tackle imminent "shocks and challenges." Burnham's platform focuses on rebalancing power and cost of living support, while Reeves noted the stronger economic foundations he'll inherit compared to her and Starmer's tenure.
UK Chancellor Rachel Reeves is launching a new "skills compact" with financial firms like Barclays and Lloyds to retrain thousands of workers for the AI revolution. The initiative commits employers to improving skills and keeping pace with technological changes, aiming to future-proof jobs and maintain the sector's competitiveness.
German Chancellor Friedrich Merz is promoting a "Reformkanzler" image to counter economic pessimism and the rise of the far-right AfD. Despite coalition agreements on pension, tax, and health reforms, voter satisfaction is at a historic low, with many deeming the measures incremental and insufficient.
German Chancellor Friedrich Merz announced a deal with the US to purchase and deploy Tomahawk cruise missiles in Germany. The move aims to bridge a strategic defense gap while Germany also works on developing its own European missile systems.
German Chancellor Friedrich Merz announced that Germany will purchase US Tomahawk cruise missiles and station them in the country. The announcement was made following Merz's return from a NATO summit in Ankara, Turkey.
The FCA is seeking to dismiss Consumer Voice's legal challenges over motor finance payouts, alleging the group and its solicitors, Courmacs Legal, have not been transparent about their funding and potential conflicts of interest.
Aid organizations, including UN agencies, warn Germany's proposed budget cuts to development and humanitarian aid will worsen global funding shortfalls. The draft 2027 budget prioritizes defense spending over overseas aid, risking increased deaths and undermining relief efforts.
German Chancellor Friedrich Merz announced that Germany has doubled its defense spending since 2022, reaching €124 billion this year. Merz stated the increase is for national defense and security, aiming to make the Bundeswehr Europe's strongest conventional army. Russia's Foreign Ministry criticized Germany's militarization.
