industry

After its failure to strike a deal to tap into the EU’s defence for loan scheme, the UK is now on a charm offensive to secure “Made in Europe” access for its industry.

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UK Business and Trade Secretary Peter Kyle is in Brussels on Wednesday and Thursday to press the case for UK involvement in the European preference scheme the Commission is drafting, as speculation circulates that it will be limited to EU countries only.

“We have a shared challenge on the continent of Europe about economic security,” Kyle told journalists after meeting Commission Vice President Teresa Ribera, adding that “the continent of Europe should come together” to build “resilience” at a time of increasing worldwide economic tensions.

The UK fears Brussels’ push to favour “Made in Europe” products will shut London out of EU public procurement and state aid, escalating post-Brexit trade tensions.

London argues that the EU and UK economies are too deeply intertwined to withstand a strict EU-only European Preference.

The EU’s “Made in Europe” strategy is set to feature in the long-delayed Industrial Accelerator Act, held up for months by divisions among member states and within the European Commission. Baltic and Nordic countries have warned that the plan could curb innovation and restrict access to non-EU technologies, joining Germany in calling for a broad definition of “Made in Europe” that includes the bloc’s “trusted” trade partners.

France, by contrast, wants to limit eligibility to members of the European Economic Area – including Norway, Liechtenstein and Iceland – as well as countries with reciprocal procurement agreements with the EU.

Limits of participation

London has previously sought to secure preferential access to the EU’s €150-billion Security Action for Europe (SAFE) defence loan scheme – so far, to no avail.

That programme also contains a European preference, with member states required to ensure that at least two-thirds of the weapon systems they buy using loaned EU money are manufactured in an EU or EEA/EFTA country or Ukraine. Third-country participation is capped at 35%.

Talks to bring the UK to the same level as a member state collapsed last November when they failed to find a compromise over how much London would have to contribute financially.

Euronews understands that those talks fell apart over a major gap between the two sides: whereas the final offer on the table from the EU was around €2 billion, the UK estimated it ought to contribute just over €100 million.

But the UK also wants to participate in the EU’s €90 billion loan to Ukraine, two-thirds of which is earmarked for military assistance.

Starmer said last month that “whether it’s SAFE or other initiatives, it makes good sense for Europe in the widest sense of the word – which is the EU plus other European countries – to work more closely together.”

But the British premier is walking a difficult political tightrope. His Labour party is consistently polling several points behind the right-wing populist Reform UK, led by arch-Brexiteer Nigel Farage.

Yet, a recent YouGov poll showed that a majority of British people (58%) now believe that it was wrong for the UK to leave the EU, with 54% supporting rejoining the bloc. An even bigger majority – 62% – support having a closer relationship without rejoining the EU, the Single Market, or the Customs Union.

Brussels, however, has always been clear that the UK cannot pick and choose privileged access to the Single Market without accepting the EU’s “four freedoms”: the full freedom of movement of goods, services, capital and people – the latter of which would feed into Farage’s anti-immigration platform.

Some of the biggest names behind the artificial intelligence boom are looking to stack Congress with allies who support lighter regulation of the emerging technology by drawing on the crypto industry’s 2024 election success.

Marc Andreessen, Ben Horowitz and OpenAI co-founder Greg Brockman are among tech leaders who’ve poured $50 million into a new super political action committee to help AI-friendly candidates prevail in November’s congressional races. Known as Leading the Future, the super PAC has taken center stage as voters grow increasingly concerned that AI risks driving up energy costs and taking away jobs.

As it launches operations, Leading the Future is deploying a strategy that worked two years ago for crypto advocates: talk about what’s likely to resonate with voters, not the industry or its interests and controversies. For AI, that means its ads won’t tout the technology but instead discuss core issues including economic opportunity and immigration — even if that means not mentioning AI at all.

“They’re trying to be helpful in a campaign rather than talking about their own issue all the time,” said Craig Murphy, a Republican political consultant in Texas, where Leading the Future has backed Chris Gober, an ally of President Trump, in the state’s hotly contested 10th congressional district.

This year, the group plans to spend up to $125 million on candidates who favor a single, national approach to AI regulation, regardless of party affiliation. The election comes at a crucial moment for the industry as it invests hundreds of billions of dollars in AI infrastructure that will put fresh strains on resources, with new data centers already blamed for driving up utility bills.

Leading the Future faces a growing challenge from AI safety advocates, who’ve started their own super PAC called Public First with a goal of raising $50 million for candidates who favor stricter oversight. On Thursday, Public First landed a $20-million pledge from Anthropic PBC, a rival to OpenAI that has set itself apart from other AI companies by supporting tougher rules.

Polls show deepening public concern over AI’s impact on everything from jobs to education to the environment. Sixty-two percent of US adults say they interact with AI at least several times a week, and 58% are concerned the government will not go far enough in regulating it, according to the Pew Research Center.

Jesse Hunt, a Leading the Future spokesman, said the group is “committed to supporting policymakers who want a smart national regulatory framework for AI,” one that boosts US employment while winning the race against China. Hunt said the super PAC backs ways to protect consumers “without ceding America’s technological future to extreme ideological gatekeepers.”

The political and economic stakes are enormous for OpenAI and others behind Leading the Future, including venture capitalists Andreessen and Horowitz. Their firm, a16z, is the richest in Silicon Valley with billions of dollars invested in AI upstarts including coding startup Cursor and AI leaderboard platform LM Arena.

For now, their super PAC is doing most of the talking for the AI industry in the midterm races. Meta Platforms Inc. has announced plans for AI-related political spending on state-level contests, with $20 million for its California-based super PAC and $45 million for its American Technology Excellence Project, according to Politico.

Other companies with massive AI investment plans — Amazon.com Inc., Alphabet Inc. and Microsoft Corp. — have their own corporate PACs to dole out bipartisan federal campaign donations. Nvidia Corp., the chip giant driving AI policy in Washington, doesn’t have its own PAC.

Bipartisan push

To ensure consistent messaging across party lines, Leading the Future has created two affiliated super PACs — one spending on Republicans and another on Democrats. The aim is to build a bipartisan coalition that can be effective in Washington regardless of which party is in power.

Texas, home of OpenAI’s massive Stargate project, is one of the states where Leading the Future has already jumped in. Its Republican arm, American Mission, has spent nearly $750,000 on ads touting Gober, a political lawyer who’s previously worked for Elon Musk’s super PAC and is in a crowded GOP primary field for an open House seat.

The ads hail Gober as a “MAGA warrior” who “will fight for Texas families, lowering everyday costs.” Gober’s campaign website lists “ensuring America’s AI dominance” as one of his top campaign priorities. Gober’s campaign didn’t respond to requests for comment.

In New York, Leading the Future’s Democratic arm, Think Big, has spent $1.1 million on television ads and messages attacking Alex Bores, a New York state assemblyman who has called for tougher AI safety protocols and is now running for an open congressional seat encompassing much of central Manhattan.

The ads seize on Democrats’ revulsion over Trump’s immigration crackdown and target Bores for his work at Palantir Technologies Inc., which contracts with Immigration and Customs Enforcement. Think Big has circulated mailings and text messages citing Bores’ work with Palantir, urging voters to “Reject Bores’ hypocrisy on ICE.”

In an interview, Bores called the claims in the ads false, explaining that he left Palantir because of its work with ICE. He pointed out the irony that Joe Lonsdale, a Palantir co-founder who’s backed the administration’s border crackdown, is a donor to Leading the Future.

“They’re not being ideologically consistent,” Bores said. “The fact that they have been so transparent and said, ‘Hey, we’re the AI industry and Alex Bores will regulate AI and that scares us,’ has been nothing but a benefit so far.”

Leading the Future’s Democratic arm also plans to spend seven figures to support Democrats in two Illinois congressional races: former Illinois Representatives Jesse Jackson Jr. and Melissa Bean.

Following crypto’s path

Leading the Future is following the path carved by Fairshake, a pro-cryptocurrency super PAC that joined affiliates in putting $133 million into congressional races in 2024. Fairshake made an early mark by spending $10 million to attack progressive Katie Porter in the California Democratic Senate primary, helping knock her out of the race in favor of Adam Schiff, the eventual winner who’s seen as more friendly to digital currency.

The group also backed successful primary challengers against House incumbents, including Democrats Cori Bush in Missouri and Jamaal Bowman in New York. Both were rated among the harshest critics of digital assets by the Stand With Crypto Alliance, an industry group.

In its highest-profile 2024 win, Fairshake spent $40 million to help Republican Bernie Moreno defeat incumbent Democratic Senator Sherrod Brown, a crypto skeptic who led the Senate Banking Committee. Overall, it backed winners in 52 of the 61 races where it spent at least $100,000, including victories in three Senate and nine House battlegrounds.

Fairshake and Leading the Future share more than a strategy. Josh Vlasto, one of Leading the Future’s political strategists, does communications work for Fairshake. Andreessen and Horowitz are also among Fairshake’s biggest donors, combining to give $23.8 million last year.

But Leading the Future occasionally conflicts with Fairshake’s past spending. The AI group said Wednesday it plans to spend half a million dollars on an ad campaign for Laurie Buckhout, a former Pentagon official who’s seeking a congressional seat in North Carolina with calls to slash rules “strangling American innovation.” In 2024, during Buckhout’s unsuccessful run for the post, Fairshake spent $2.3 million supporting her opponent and eventual winner, Democratic Rep. Donald Davis.

Regulation proponents

“The fact that they tried to replay the crypto battle means that we have to engage,” said Brad Carson, a former Democratic congressman from Texas who helped launch Public First. “I’d say Leading the Future was the forcing function.”

Unlike crypto, proponents of stricter AI regulations have backers within the industry. Even before its contribution to Public First, Anthropic had pressed for “responsible AI” with sturdier regulations for the fast-moving technology and opposed efforts to preempt state laws.

Anthropic employees have also contributed to candidates targeted by Leading the Future, including a total of $168,500 for Bores, Federal Election Commission records show. A super PAC Dream NYC, whose only donor in 2025 was an Anthropic machine learning researcher who gave $50,000, is backing Bores as well.

Carson, who’s co-leading the super PAC with former Republican Rep. Chris Stewart of Utah, cites public polling that more than 80% of US adults believe the government should maintain rules for AI safety and data security, and says voter sentiment is on Public First’s side.

Public First didn’t disclose receiving any donations last year, according to FEC filings. But one of the group’s affiliated super PACs, Defend our Values PAC, reported receiving $50,000 from Public First Action Inc., the group’s advocacy arm. The PAC hasn’t yet spent any of that money on candidates.

Crypto’s clout looms large in lawmakers’ memory, casting a shadow over any effort to regulate the big tech companies, said Doug Calidas, head of government affairs for AI safety group Americans for Responsible Innovation.

“Fairshake was just so effective,” said Calidas, whose group has called for tougher AI regulations. “Democrats and Republicans are scared they’re going to replicate that model.”

Allison and Birnbaum write for Bloomberg.

Chappell Roan has left her booking agency, Wasserman Music, over its founder Casey Wasserman’s ties to the late Jeffrey Epstein and convicted child sex trafficker Ghislaine Maxwell.

“As of today, I am no longer represented by Wasserman, the talent agency led by Casey Wasserman,” Roan wrote on Monday in a post to social media. “I hold my teams to the highest standards and have a duty to protect them as well. No artist, agent or employee should ever be expected to defend or overlook actions that conflict so deeply with our own moral values. I have deep respect and appreciation for the agents and staff who work tirelessly for their artists and I refuse to passively stand by. Artists deserve representation that aligns with their values and supports their safety and dignity. This decision reflects my belief that meaningful change in our industry requires accountability and leadership that earns trust.”

Roan had been represented by Jackie Nalpant, Kiely Mosiman, Adele Slater and Anna Bewers at Wasserman. It’s unclear whether her agents will follow her out the door of the embattled agency; representatives for Roan did not immediately return a request for comment.

Roan is the highest-profile act to leave Wasserman after the release of the most recent batch of Epstein documents. Billie Eilish previously left the agency in 2024 after separate allegations of Wasserman’s sexual misconduct surfaced. For now, the agency still represents other A-list talent including Kendrick Lamar, Coldplay and Tyler, the Creator, though many in the industry suspect a wave of departures is coming.

Casey Wasserman — a powerful figure in sports and entertainment who leads Los Angeles’ 2028 Olympics committee and his eponymous talent agency — came under fresh scrutiny after he surfaced in a new batch of federal documents released as part of an investigation into the late sex trafficker Epstein and his associate Maxwell.

Wasserman has said in a statement to media: “I deeply regret my correspondence with Ghislaine Maxwell which took place over two decades ago, long before her horrific crimes came to light. I never had a personal or business relationship with Jeffrey Epstein. As is well documented, I went on a humanitarian trip as part of a delegation with the Clinton Foundation in 2002 on the Epstein plane. I am terribly sorry for having any association with either of them.”

Wasserman has previously admitted to flying with Epstein on the financier’s private plane on a trip to Africa with Maxwell and former President Clinton. In newly surfaced messages to Maxwell, who is serving a lengthy prison sentence for sex trafficking of minors, Wasserman wrote: “I thought we would start at that place that you know of, and then continue the massage concept into your bed … and then again in the morning … not sure if or when we would stop.” She responded: “Umm — all that rubbing — are you sure you can take it? The thought frankly is leaving me a little breathless. There are a few spots that apparently drive a man wild — I suppose I could practise them on you and you could let me know if they work or not?”

Local politicians have called for Wasserman to leave the Olympic committee. “I think Casey Wasserman needs to step down,” said L.A. County Supervisor Janice Hahn. “Having him represent us on the world stage distracts focus from our athletes and the enormous effort needed to prepare for 2028.”

Last week, Bethany Cosentino, the solo artist and founder of the band Best Coast, left the agency over Wasserman’s Epstein ties, saying: “We are tired of learning, over and over, that men who control access, resources, money and so-called safety in our industry are given endless grace. We are tired of being asked to treat proximity to something horrific as an unfortunate situation we should simply move past — especially when the person involved still holds all the power.”

California lawmakers are expressing concern about how the future of Warner Bros. Discovery could affect Hollywood’s workforce.

In an open letter addressed to Netflix Chief Executives Ted Sarandos and Greg Peters and Paramount Skydance Corporation CEO David Ellison, U.S. Sen. Adam Schiff (D-Calif.) and Rep. Laura Friedman (D-Glendale) call for the industry giants to make “concrete commitments to Californian and American workers.”

Late last year, Netflix won the highly anticipated bidding war for Warner Bros, which would give the streamer control over Warner Bros.’ storied Burbank film and TV studios, HBO and HBO Max. The pending $72-billion deal would greatly reshape the Hollywood landscape. Separately, Paramount has continually thrown in counter-bids and has been consistently rejected.

With all of these moving pieces, there’s a bipartisan fear among the nation’s lawmakers about how the acquisition could affect jobs in the U.S. entertainment industry . As stated in the letter, the industry “supports more than 680,000 jobs and contributes over $115 billion annually to the regional economy.”

Given the slowdown the industry has seen post-COVID and the growing number of international productions, Los Angeles film activity was down 13.2% from July through September 2025 when compared with the same period last year. This downward trend continues to build on the loss of 42,000 jobs in L.A. between 2022 and 2024.

Ellison and Sarandos have made arguments for why they believe their respective companies are best positioned to take over Warner Bros.

But each deal comes with major cuts. Paramount is projected to slash $6 billion in expenses over three years, and Netflix is projecting to cut $2 billion to $3 billion. Some analysts believe these cuts will have a significant effect on the workforce.

Previously, Ellison said, “We believe that what we are offering is better for Hollywood. It’s better for the customers and it’s pro-competitive.”

Sarandos is also quoted in the letter saying: “We think it’s great for consumers. We think it’s a great way to create and protect jobs in the entertainment industry.”

Earlier this week during a Senate subcommittee hearing, Sarandos said Netflix plans to increase its film and television production spending to $26 billion this year, with a majority of that happening in the U.S.

The lawmakers’ letter raises a series of questions surrounding the livelihood of creators, the use of AI and “concrete steps” about preserving jobs in L.A. Schiff and Friedman also offer the CEOs an opportunity to meet with them to discuss their answers.

In an effort to ensure “America continues to lead the world in the creative economy,” the letter said that Congress is currently working on bipartisan legislation that would establish a federal film tax incentive. It will be modeled after state programs in California, Louisiana and Georgia.

“We view this as a tool to not just protect but encourage more domestic filming and sustainable job creation on American soil,” wrote the lawmakers.

Last year, Spotify paid out more than $11 billion to the music industry, bringing the company’s total payouts since launch to nearly $70 billion.

The milestone year reflected the “largest annual payment to music from any retailer in history,” the company announced on Wednesday in a post. In 2025, Spotify’s payout amount grew by over 10%, making the Sweden-based streamer one of the industry’s main revenue drivers.

“Big, industry-wide numbers can feel abstract, but that growth is showing up in tangible ways,” wrote Charlie Hellman, the company’s new head of music. “Despite rampant misinformation about how streaming is working today, the reality is that this is an era full of more success stories and promise than at any point in history.”

When music streaming was first introduced, there was some controversy about how much artists earn from streams. According to Spotify, independent artists and labels accounted for half of all royalties. Additionally, the company said there are currently more artists earning over $100,000 a year from Spotify alone than were getting stocked on shelves at the height of the compact disc era.

Founded in 2006, the company, with a large presence in L.A.’s Arts District, has become the world’s most popular audio streaming subscription service. The platform offers access to over 100 million tracks, podcasts and audiobooks in over 180 markets.

At the top of the year, founder Daniel Ek moved from his CEO position to become executive chairman. Spotify named two co-CEOs, Gustav Söderström and Alex Norström, in his place.

This month, Spotify raised prices for its premium subscribers in the U.S., bringing the costto $12.99 per month. Hellman disclosed that as Spotify’s audience continues to grow, the higher prices are designed to help with the company’s ongoing expansion. According to the post, Spotify makes up roughly 30% of recorded music revenue and pays out two-thirds of all music revenue to the industry. The other third gets invested back into the company to maintain an “unrivaled listening experience.”

Recently, the streamer has been focused on growing its podcasting division by opening a new recording studio in Hollywood, premiering several shows in partnership with Netflix and expanding its creator monetization program.

Separately, Spotify said it is hoping to counter new developments in AI by reinforcing a human connection between artists and fans. This includes an emphasis on more artist-powered videos, continuing to promote artists’ live shows on the platform and expanding the role of the company’s music curators. The streamer also has plans to crack down on AI-driven artists on the platform.

“AI is being exploited by bad actors to flood streaming services with low-quality slop to game the system and attempt to divert royalties away from authentic artists,” said Hellman. “We’re going to introduce changes to the systems for artist verification, song credits, and protecting artist identity. It’s critical to ensuring listeners and rightsholders can trust who made the music they’re hearing.”