budget

US threatens EU with retaliation over European preference in EU budget

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In a document sent to EU legislators and seen by Euronews, the US has threatened the EU with retaliation if it does not scrap European preference provisions in its multiannual budget.


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EU member states are currently discussing the EU’s long-term budget (2028-2034), which includes a €402 billion fund dedicated to competitiveness that favours the production of key goods within the EU, including in defence.

The measure would potentially exclude foreign firms from EU financing to protect strategic and economic security interests.

“With further expansion of European preference measures in EU defence funds, the United States will review all potential response measures, including a rollback of the existing ‘Buy American’ blanket waivers and exceptions associated with the RDPAs [Reciprocal Defence Procurement Agreements] with 19 of the 27 member states,” the non-paper reads.

The Buy American Act requires the US government, including the US Department of Defence, to give preference to products manufactured in the US for certain public procurements, with some exceptions being granted in defence for some EU countries.

The non-paper adds that the European preference would impede “partnership” and “collaboration” with the US, and calls on the EU to introduce a “made with Europe” system – or, in the specific area of defence, a “made in NATO”.

Trade tensions

The US’s latest warning comes after the creation of the Security Action for Europe programme in 2025, already sparked trade tensions between Washington and Brussels over a European preference for joint purchases of arms and military equipment.

The “made in Europe” approach is also pushed by France and the European Commission in several pieces of legislation over the last year designed to boost EU industry, with foreign countries lobbying hard against being excluded from the EU market.

The US and EU have been at loggerheads over trade since the start of the second Trump administration, amid repeated tariff threats and disputes over environmental and digital regulations which the White House deems to be non-tariff barriers.

The Commission hoped that the conclusion of a trade agreement in July 2025 would be a step towards a more stable transatlantic relationship.

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Hilton proposes eliminating DMV, slashing vehicle registration fee if elected governor

If elected governor in November, Republican Steve Hilton said Tuesday he would eliminate the state Department of Motor Vehicles and slash registration fees for car owners — expressing confidence that the Democratic-controlled Legislature would embrace the plan.

“My starting expectation would be, they would be with me on things to reduce the cost of living, so let’s work together,” he told The Times on Tuesday.

Hilton said that once state lawmakers met with him and realized he was not the “caricature” his critics portray, they would realize that he is “not a particularly tribal person. I’m just looking to solve problems, and we all agree about the cost of living.”

Eliminating a state agency would require approval from the state Legislature, where Democrats hold super majorities in both chambers. Assembly Speaker Robert Rivas (D-Hollister) and Senate President Pro Tem Monique Limón (D-Santa Barbara) have both endorsed Hilton’s Democratic rival in the governor’s race, former Biden cabinet member Xavier Becerra.

The Becerra campaign scoffed at Hilton’s confidence.

“You can’t spend a year calling Democrats a failure and then expect two-thirds of both chambers to take your calls,” said Becerra spokesperson Jonathan Underland. “Steve is in for a very rude awakening, and the fact that he can’t see it coming just shows how little he understands the job he’s asking for.“

Hilton announced his plan at a news conference outside of a DMV office in West Hollywood, where he touted proposals to eliminate the state agency, which has a $1.6-billion budget, and reduce the annual vehicle registration fee to $73 per year.

“We are going to shut down this bloated, nanny-state bureaucratic agency that treats Californians with complete contempt,” he said to cheers at the event. “We are done with it. Enough is enough with the DMV. Enough is enough with sky-high registration rates. We are done.”

Hilton said he could issue an executive order to reduce the vehicle licensing fees, as Gov. Arnold Schwarzenegger did less than an hour after being sworn into office upon winning the 2003 recall election. While the fee is set by state tax code, governors can waive it in specific circumstances, as Schwarzenegger did.

Californians currently register more than 36 million vehicles with the DMV each year, and the average annual fee paid for each is $329, according to the state Legislative Analyst’s Office. The registration fees, along with driver’s license costs and other fees related to the California Highway Patrol and identification cards collected by the DMV, are the primary funding sources of the CHP and DMV.

Hilton said the state currently reaps $11 billion to $12 billion per year from vehicle registration fees, and that his proposal would reduce the revenue to roughly $2.7 billion. He said he would make up for the revenue shortfall created by the proposal — and other plans, including eliminating state taxes on the first $150,000 of income — by reducing the state’s workforce by 10% and agency budgets by 5%.

To eliminate a state agency, Hilton would need legislative approval, although he says that if Sacramento lawmakers were to rebuff his efforts, he could use the budget to slash the DMV’s operations.

Hilton cited a discussion he had with Schwarzenegger at an August dinner at the movie star’s Brentwood estate.

“Arnold said the Democrats who led the Legislature when he was there much preferred” having a Republican governor to a Democratic one, Hilton said.

Hilton lacks Schwarzenegger’s worldwide fame, and the nation and Sacramento are far more polarized than when the Austrian bodybuilder turned action movie star took office. Still, Hilton’s vehicle registration proposal is reminiscent of a major plank of Schwarzenegger’s successful 2003 campaign to recall and replace Democratic Gov. Gray Davis.

Davis had tripled the state’s annual vehicle license fee shortly after being reelected in 2002 to help address a state budget shortfall. Schwarzenegger seized upon the issue during the recall campaign, at one point dropping a wrecking ball from a five-story crane onto a car spray-painted with the words “Davis Car Tax” in front of a cheering crowd in Costa Mesa.

“We had the biggest action star in the world. He’s going to show action,” said Rob Stutzman, who worked as one of Schwarzenegger’s top advisors. “Arnold demanded it. It was always a production to tell a story. He was genius at it.”

“Californians got a huge increase in their vehicle license fee and it was being done to backfill a deficit arguably revealed to them by surprise after the [2002] election,” Stutzman said.

Stutzman said the fee created a backlash that fueled the recall campaign against Davis, along with rolling blackouts during the energy crisis of 2000 to 2001.

Schwarzenegger’s executive order reducing the license fee to its former rate resulted in billions of dollars of losses to the state’s general fund. The Republican had to respond with spending cuts as well as issuing bonds to make up for the shortfall.

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Budget airline wants YOU to pay them if your flight is delayed

THERE is nothing worse than a delayed or cancelled flight – and one airline is now making passengers pay extra if they want help quicker.

Wizz Air has launched a new add-on called ‘Disruption Assistance’, which it claims is ‘added protection’.

Close-up of a Wizz Air Airbus 320 aircraft at Luton Airport.
Wizz Air has introduced a new service called ‘Disruption Assistance’ Credit: Alamy

According to the airline, passengers will “get extra support if your flight is disrupted on the day of travel”.

The new add-on means that travellers will get notifications for disruptions over two hours, for any reason including severe weather, issues at airports or even strikes.

Another part of the add-on is that you will get rebooked quickly when time matters, even if this means needing to travel with another airline.

You will also be able to request a full refund if the alternatives offered to you don’t work.

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The final part of the add-on is that you will get “access [to] easy self-service tools or speak to an agent”.

You can add Disruption Assistance during the booking process or in Manage My Booking on the airline’s website or app.

In addition, if your flight is impacted on your day of travel, you will be sent an email to the Disruption Portal where you will be able to rebook via one of the options given or offered a refund.

According to EX-YU Aviation, the add-on costs between €9.90 (£8.51) and €14.90 (£12.80) per person.

A flight information monitor displays numerous flight numbers and destinations with their status listed as "Cancelled."
Passengers will pay for the add-on which will prioritise booking them onto a new flight if theirs is delayed or cancelled by more than two hours Credit: Getty
Collage of travel items including a plane, sunscreen, passport, suitcase, and plane tickets, advertising The Sun's travel Instagram account.

Legally, the airline must rebook you under EU/UK Regulation 261/2004, if your flight is cancelled or delayed by more than five hours.

Airlines will usually try to rebook you on their own airline’s next available flight.

However, if they are unable to get you to your destination on the same day or next day, they must legally book you onto a rival airline and reimburse you.

Essentially, the Disruption Assistance add-on means you don’t have to battle with the airline’s customer service for a new flight or refund.

Flight compensation rules

A look at your rights if a flight is delayed or cancelled, when your entitled to compensation and if your travel insurance can cover the costs.

What are my rights if my flight is cancelled or delayed?

Under UK law, airlines have to provide compensation if your flight arrives at its destination more than three hours late.

If you’re flying to or from the UK, your airline must let you choose a refund or an alternative flight.

You will be able to get your money back for the part of your ticket that you haven’t used yet.

So if you booked a return flight and the outbound leg is cancelled, you can get the full cost of the return ticket refunded.

But if travelling is essential, then your airline has to find you an alternative flight. This could even be with another airline.

When am I not entitled to compensation?

The airline doesn’t have to give you a refund if the flight was cancelled due to reasons beyond their control, such as extreme weather.

Disruptions caused by things like extreme weather, airport or air traffic control employee strikes or other ‘extraordinary circumstances’ are not eligible for compensation.

Some airlines may stretch the definition of “extraordinary circumstances” but you can challenge them through the aviation regulator the Civil Aviation Authority (CAA).

Will my insurance cover me if my flight is cancelled?

If you can’t claim compensation directly through the airline, your travel insurance may refund you.

Policies vary so you should check the small print, but a delay of eight to 12 hours will normally mean you qualify for some money from your insurer.

Remember to get written confirmation of your delay from the airport as your insurer will need proof.

If your flight is cancelled entirely, you’re unlikely to be covered by your insurance.



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Lucky Strike expects $340M-$360M adjusted EBITDA in fiscal 2027 as CapEx budget drops to $90M (NYSE:LUCK)

Earnings Call Insights: Lucky Strike Entertainment Corporation (LUCK) Q4 2026

Management View

  • Thomas Shannon (Founder, Chairman & CEO) said the company ended fiscal 2026 with “a same-store sales comp of minus 0.2%,” “total revenue grew 4% to $1.245 billion,” and “adjusted EBITDA was $333 million,” while attributing late-period pressure to “an extraordinary stretch of

Seeking Alpha’s Disclaimer: This article was automatically generated by an AI tool based on content available on the Seeking Alpha website, and has not been curated or reviewed by humans. Due to inherent limitations in using AI-based tools, the accuracy, completeness, or timeliness of such articles cannot be guaranteed. This article is intended for informational purposes only. Seeking Alpha does not take account of your objectives or your financial situation and does not offer any personalized investment advice. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.

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Budget fix could raise sales taxes

Legislative leaders are drafting a complicated scheme to help close the state’s massive deficit by raiding funds voters have set aside for transportation and local government services, Gov. Arnold Schwarzenegger said Thursday, adding that it probably would force a state sales tax hike.

“It is not a good idea,” the governor said in an interview with The Times. But Schwarzenegger, anxious to get a budget passed before the state experiences a cash crisis, did not rule out signing off on such a plan.

During the half-hour interview in his office, the governor offered a broad outline of the proposal being discussed in closed-door budget negotiations. Schwarzenegger, who seemed exasperated by his inability to fix California’s fiscal dysfunction five years into his governorship, cited the borrowing plans to bolster his point that the state’s budget system was in need of reform.

The proposal is being considered as part of a possible compromise between Democrats seeking to close the deficit with $5.6 billion in income tax hikes on the rich and Republicans vowing to block any new taxes.

The legislative plan would balance the state budget with the help of $1.1 billion voters set aside for transportation projects and at least $1.4 billion earmarked for local governments under Proposition 1A, which was approved in 2004, Schwarzenegger said. State law requires that the money be paid back — at a steep interest rate — in three years.

In order to ensure that the money is repaid, “I literally would have to guarantee that with a sales tax or something,” Schwarzenegger said. “Where [else] do we get the revenues that someone can be saying so freely we can pay back this $2.5 billion we are borrowing?”

Officials involved in the confidential budget negotiations, who agreed to speak on condition of anonymity, said lawmakers also were looking to borrow $200 million voters set aside for early childhood education programs through 1998’s Proposition 10.

Local officials and advocates for the programs expressed alarm at the proposal to raid their funds. They accused legislative leaders of ignoring the will of voters, who approved the measures to prevent the state from touching the money in question.

“The money they would take is going to fund a huge amount of projects,” said Jim Earp, executive director of the California Alliance for Jobs, a construction trades group. “It would be a complete violation of the spirit of Proposition 1A.”

Earp said transportation advocates were mobilizing a campaign against the plan. He said direct mail would urge lawmakers to vote against it if it is included in the final budget deal.

In Los Angeles County, the proposal would force further cuts in healthcare and human services, and probably affect other programs, said county Chief Executive Officer William T Fujioka. He said the county would lose as much as $145 million this year.

“The human and social impact would be significant,” he said.

Schwarzenegger expressed frustration that California may once again return to borrowing. He argued that if the state were to impose some spending restraints — or at least require lawmakers to build substantial rainy-day funds — the perpetual budget crises would stop.

“It is a self-inflicted situation we are in,” Schwarzenegger said. “We know what the problem is, and we know this is the only way it can be fixed, but we are unwilling to do it.”

For the third time this year, the governor is trying to make changes in the state Constitution that would require that money be put aside in good economic times. His first attempt, in 2004, was watered down by the Legislature, ultimately resulting in a weak reserve that was quickly wiped out when the state’s revenue began to slow. That was followed by a ballot proposal that Democrats and labor groups warned would strangle government; it was defeated by voters in 2005.

“There was $100 million spent against it” and other unsuccessful ballot measures Schwarzenegger championed that year, he said, “because God forbid we should fix something.”

Democrats say it is the governor who is exacerbating the state’s financial problems, by refusing to recognize that California needs more revenue to provide the services polls show voters want. Schwarzenegger’s first action in office was to cut vehicle license fees, a move that is now costing the state as much as $6 billion. Democrats say the state needs that money, and that imposing spending restraints without replacing it would ultimately reduce government services substantially.

The standoff has allowed California’s fiscal problems to grow under the governor’s watch, even as other states have implemented reforms. In a recent ranking by the nonprofit Pew Center on the States, California’s budget system received a D-plus, the lowest grade given any state.

Schwarzenegger’s role in the budget process has been limited this year. Lawmakers complain he is often out of state boosting his national profile.

But the governor says he has met his deadlines for presenting budget plans, and that his attempts to get lawmakers to work on the problem throughout the year were rebuffed.

Schwarzenegger twice during the interview mentioned how Senate Leader Don Perata publicly implied that the governor should butt out of budget deliberations, saying that if he wanted to be involved, he should run for the Legislature.

“I kept saying all spring, ‘Guys, don’t wait until the last minute,’ ” Schwarzenegger said. “Then Perata makes his statement that ‘He shouldn’t be telling us what to do.’ We don’t have the luxury to improvise this year. We are running out of cash.”

The delay in dealing with the budget problem, the governor said, ultimately spilled over into other business at the Capitol, making it impossible to achieve anything of substance.

Schwarzenegger said he ranks the bills the Legislature sends to his desk into weight categories, a nod to his days as a bodybuilder. This year, he said, there is “very rarely a heavyweight bill.”

“We can’t move the state forward because everyone gets frozen,” he said.

evan.halper@latimes.com

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Major budget airline to axe all flights from UK airport

A BUDGET airline is scrapping its flights from a UK airport.

Vueling first launched flights from Cardiff Airport back in 2012.

Vueling has cancelled its winter flights to Alicante and Malaga Credit: Alamy Stock Photo
The routes will stop in late October from Cardiff Airport Credit: Alamy Stock Photo

It planned to operate seasonal flights to the Spanish city of Alicante this winter.

However, Vueling has now withdrawn it from its winter 2026–27 flights from Cardiff – just four months after first placing flights on sale.

The airline had scheduled a three-weekly service to Alicante over the Christmas and New Year period.

The last flight of the year from Cardiff Airport to Alicante is on October 24.

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It’s flights to Malaga will end on October 18, which was already planned.

Neither the airline nor Cardiff Airport has confirmed if the flights will be returning for the summer season.

A Vueling spokesperson said: “At Vueling, we are constantly analysing our network and flight schedule to offer our passengers the best connectivity options and adapt our offer to the connectivity needs of each route.

“In this regard, our route between Alicante and Cardiff will not operate during the 2026 winter season. In any case, we continuously evaluate any opportunities that may arise in the future.”

Passengers have taken to social media who have been affected.

One said: “They always seem to cancel lots of winter flights out of Cardiff due to low sales. They release them late then wonder why they don’t sell. Shame as Vueling provide a great service.”

Another said: “We usually fly with them in February and the flights are pretty full so I am surprised.”

It’s believed Vueling will begin operating the Spanish flights in summer 2026 Credit: Alamy Stock Photo

A spokesperson for Cardiff Airport said they were “disappointed” that the service had been withdrawn.

They added: “Alicante remains a popular destination from Cardiff, with TUI and Ryanair continuing to offer direct flights this winter.

“We remain focused on working with our airline partners to grow our route network and give customers across Wales greater choice from Cardiff.

“We would encourage any customers affected by Vueling’s decision to contact the airline directly regarding their booking and to explore the alternative travel options available from Cardiff.”



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‘I’ve stayed at 36 hotels at Walt Disney World – one is the best budget option’

If you’re planning a trip to Walt Disney World Resort in Florida, one of the most affordable hotels has been revealed by an expert, having stayed at the park a staggering 36 times

A devoted Disney World Resort enthusiast has named the best budget-friendly hotel to book when visiting the beloved park, after staying there a whopping 36 times.

Hotels can be one of the most expensive parts of a holiday, even more so when it’s a trip to Walt Disney World in Florida. As one of the most popular family attractions, attracting a staggering 76.7 million visitors last year, holidaymakers can pay up to an eye-watering £4,000 per person on a trip to ‘The Most Magical Place on Earth’.

For a family of four, that could amount to £10,000 for a 10-night stay at the bucket-list destination, and for many, it’s worth it. Yet there are plenty of ways to keep those costs in check, including booking a budget-friendly hotel, without sacrificing on the experience.

Mark Patterson, who has been to Florida’s Disney World Resort a remarkable 48 times over the past six years and stayed at 36 different hotels during the trips, said there’s one particular area that offers an affordable option. “The Flamingo Crossings area is my favourite, it’s newer, and the hotels are all new, and they all have free breakfast. They offer good, reasonable prices there.”

While it’s a budget-friendly option, he did point out that, due to its location, visitors will need to drive, get a lift, or hop on a shuttle bus to reach the park each day. Nevertheless, with free breakfast thrown in, it could well be worth travelling a little further to keep the costs down.

During his own trips, Matt, who is based in Southern California, targets an average hotel price of around $100 (£74.71) to $200 (£149.42) per night to keep things affordable, while keeping a close eye out for any hidden fees. Another area he recommends is Disney Springs.

He explained: “The Disney Springs area has a range of hotels, right there within walking distance to the shopping area, and it’s where pretty much everybody goes to eat at night. It gets very busy and popular, so being able to walk to that is very handy.

“However, the bad thing about that, or something you have to trade off, is that only one of the hotels offers a free breakfast; all the others you have to pay for. So I might get a hotel for around $100 (£74.71) per night, but will then have to pay for breakfast, which is $28 (£20.92), along with paying for parking, which can be around $25 (£18.68) and a resort fee of around $40 (£29.88).

“So it can literally double the price of what I thought I was going to pay. Disney Springs area is great, but you’ve got those little hidden fees.”

In a bid to help holidaymakers save even more on their trip to Disney, Matt also recommends booking a hotel that has a kitchenette. “All the restaurants at Disney are expensive, so the hotels I like have a kitchenette with a stove and a full-size fridge, so you can buy food and cook it,” he shared.

“You can then take it into the park with you, and that can save a lot of money. Even if you just take two meals in for the family, that can save you easily $100 (£74.71) to $200 (£149.42) per day.”

Mark documents his numerous visits to Walt Disney World Resort on his website, DDadBudget, offering useful tips to fellow fans.

Do you have a travel story to share? Email webtravel@reachplc.com

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Board approves $15.5 billion budget for Trump’s Dulles Airport plans

People at the United Airlines counter check-in at the main terminal at Washington Dulles International Airport in Dulles, Va., on July 30. President Donald Trump announced a $20 billion plan to rebuild and renovate the airport that includes terminal expansions and an underground U-shaped train to move travelers between terminals, eliminating the need for mobile lounges, or “people movers”, which have been in use since 1962. Photo by Bonnie Cash/UPI | License Photo

Aug. 19 (UPI) — The Metropolitan Washington Airports Authority on Wednesday approved a $15.5 billion budget for Dulles International Airport, setting the stage for renovations proposed by President Donald Trump.

The board approved the proposal for the Revitalizing Washington Dulles International Airport Project, an initiative launched by the Department of Transportation in December.

The approval includes $3.75 billion for new underground tunnels which will replace the airport’s shuttle system, the renovation of Concourses C and D, and $6.2 million for the reconstruction of the main terminal.

The project is slated to begin in late 2027.

Trump said during a briefing at the White House last month that more than 5 million square feet will be either new or renovated space at the airport. He called the airport in its current state “a terrible place to be.”

The president said in July that the estimated cost of the project is more than $20 billion.

About $14.2 billion of the funding will come from new bond issuances, $200 million from grants and $1.1 billion in Passenger Facility Charges: fees that travelers pay for using the airport.

New expenditures included in the budget amount to about $48 million, MWAA’s report says.

President Donald Trump speaks to the press as he tours a new helipad on the South Lawn of the White House on Wednesday. Photo by Al Drago/UPI | License Photo

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