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AN A-list Hollywood actor was spotted shopping at a Pokémon market in Brighton – but would you have been able to recognise him in the crowds?

A TikTok user shared a snap of the star, 48, looking around a gymnasium in a white cap and glasses.

Molly Wheatley, user name @xo_mxlly_ox, captioned the snap: “That’s just a random man in a white hat…”

But then in the next slide she revealed exactly who it was, as she posed for a picture with none other than Tom Hardy.

Fans rushed to the comments section to swoon over the Venom star, with one writing: “WOAH.”

Another said: “my jaw hit the floor.”

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“I knew it was him before the second picture. I KNOW THAT HANDSOME MAN FROM A MILE OFF,” a third chimed in.

A fourth added: “Idk you but I hate you!!”

A fifth chimed in: “I would simply keel over.”

A sixth joked: “He is a pretty good tom hardy look alike tbf.”

Tom, who was born in Hammersmith, London, is a well known English actor who has starred in a number of popular films and TV shows since shooting to fame in the late 90s.

Some of his movie roles include in Star Trek: Nemesis, RocknRolla, Bronson, Warrior, Inception, The Dark Knight Rises, Mad Max: Fury Road, Dunkirk, Venom, Spider-Man: No Way Home, The Bikeriders and Havoc.

Meanwhile he’s also been in Wuthering Heights, Peaky Blinders, Taboo, Oliver Twist, and most recently MobLand.

He has also won the Rising Star Award at the British Academy Film Awards in 2011, as well as the Critics’ Choice Award for Best Actor in an Action Movie in 2015.

And fans will be over the moon to know that Tom is reprising his role as Harry Da Souza on MobLand, after it was said that the hunky actor had been fired from the Paramount+ hit.

Deadline confirmed the integral cast – which is also made up of Pierce Brosnan and Helen Mirren – will remain for the third instalment, and that includes Tom.

And last month The Sun exclusively revealed a world-exclusive first look at the upcoming action.

THE UK isn’t short of pretty market towns, but while everyone else is fighting for parking in Cornwall or the Cotswolds, there’s a gorgeous alternative without the massive crowds.

Tavistock in Devon is a historic market town sat on the edge of Dartmoor National Park.

And it has a rather big claim to fame…

The town is where the cream tea was invented, with the earliest recording of the tradition dated to 11th century at Tavistock Abbey.

And, to put the decades-long debate to an end, the monks that created the cream tea in fact did put the cream first and then the jam.

There are so many spots in the town to grab a cream tea but my personal favourite is Café Liaison, where you can sit with your cream tea overlooking the Churchyard and former Cloisters of the Abbey.

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The town itself is a UNESCO World Heritage town, due to the town’s medieval tin mining history as well as 19th century copper and metal production.

Wandering around the town, you’ll notice all the buildings are made of dark grey stone.

You might also spot some Dartmoor granite in the buildings as well.

One top building to spot is the Town Hall, which is in the heart of the town

Make sure to visit the ancient Pannier Market too, which was granted its Royal Charter in 1105.

Inside, you will find traders selling all sorts of different items, that change depending on the day of the week.

For example, on Tuesdays you will find antiques and collectables, whereas on Fridays you will find locally produced goods.

Across the town, you’ll also find a wealth of quaint independent shops.

Make sure to head into Book Stop to pick up a read and check out Inside Out which is the ideal place for gifts.

Depending on when you are visiting, you could also explore the Farmer’s Market which takes place each month on the second and fourth Saturdays.

For a tipple, drop into The Market Inn – inside you will find cosy fire places, maybe some pooches, a friendly atmosphere and delicious pub grub.

And of course, Dartmoor is on your doorstep – which, in my opinion, is one of the most underrated places to visit in the UK.

You can explore towering tors as well as meet numerous Dartmoor ponies.

Just outside of the main town, you can stay at Harford Bridge Park campsite and caravan park.

This is no usual campsite though…

Instead, you pitch your tent right next to the River Tavy – which runs through the holiday park and is gentle and shallow.

When I used to visit the campsite as a child along with my family, we would make sure to have a pitch right next to the river.

Then, in the blazing sun, my sister and I would put up our camping chairs directly in the river and sit with our feet in the water.

It is ideal for families who want to explore Dartmoor but want a few more facilities than wild camping.

On the site there is a heated toilet block as well as hot showers and a laundry room.

If you have forgotten anything, there is also a shop onsite, as well as a games, TV and book room, children’s play park with seesaws and climbing frames and a tennis court.

Dogs are welcome too, with a sprawling meadow for them to roam in.

Make sure to book a ‘grass riverside’ pitch, which costs £24 per night for two people without electricity, working out at just £12 per person.

If you are a family of four, the pitch will set you back £44 per night – working out at £11 per person, per night.

Oil prices fall as US officials tout progress in talks to reopen critical waterway.

The US stock market has hit an all-time high amid growing hopes for a deal to reopen the Strait of Hormuz and a flurry of bumper corporate earnings results.

The S&P 500, the most popular gauge of US stocks, surged 1.8 percent on Tuesday to top 7,700 for the first time, blasting past its previous record of 7,620.90 set on June 2.

Wall Street’s benchmark index has risen 12.80 percent so far this year, comfortably beating its historical average of about 10.5 percent.

Palantir Technologies, a data analytics company closely tied to the US and Israeli defence sectors, was among the biggest gainers, with its shares soaring 29.5 percent on the back of forecasting-busting second-quarter revenue of $1.94 bn.

The Dow Jones Industrial Average, which tracks 30 blue-chip companies, set a new record for a second straight day, climbing 1.7 percent to 54,085.88.

The rally continued in Asia on Wednesday morning, with key indexes in Japan and South Korea making major gains.

Tokyo’s benchmark Nikkei 225 was up 3 percent as of 01:00 GMT, while the Kospi in Seoul was up 4.6 percent.

Brent crude, the primary international benchmark for oil prices, edged lower after falling about 5 percent overnight on hopes for an end to the months-long disruption to shipping in the Strait of Hormuz, a conduit for about one-fifth of global oil supplies before the start of the US-Israel war on Iran in late February.

Brent futures for October delivery stood at $79.11 per barrel as of 01:00 GMT, down about 13 percent from the previous week.

The growing market optimism came as both US and Iranian officials touted progress in talks between Iran and Oman aimed at restoring shipping in the strait.

US Secretary of State Marco Rubio said on Tuesday that while an agreement had yet to be reached, he hoped that a deal would “happen very ‌shortly”.

US Treasury Secretary Scott Bessent said in an interview with CNBC that an agreement on the strait could be reached as soon as Tuesday or Wednesday.

Iran’s Foreign Ministry spokesperson, Esmaeil Baghaei, said talks with Omani officials on designating safe routes for vessels have been “positive”.

Maritime traffic in the Gulf has been severely constrained since the start of the war amid the threat of Iranian attacks on vessels in and around the strait, as well as a US blockade of Iranian ports.

Just nine vessels transited the critical waterway on Sunday, according to ship-tracking platform MarineTraffic, compared with roughly 130 daily crossings before the start of the war.

The US military said on Tuesday that the strait was “free and open” to all commercial vessels despite Tehran’s repeated insistence that it has the right to control the movement of traffic in the waterway.

“Over the past three months, US forces have assisted more than 1,000 vessels in successfully transiting the strait despite unwarranted Iranian aggression, and these transits continue today,” US Central Command said in a post on social media.

Hollywood’s biggest deal in decades is on hold.

On Monday, a federal judge temporarily blocked Paramount Skydance’s efforts to complete its purchase of Warner Bros. Discovery, ruling that the proposed $111-billion merger “raises serious questions” about whether the combination violates U.S. antitrust law.

District Judge Araceli Martínez-Olguín, based in Oakland, granted a request for a temporary restraining order from a coalition of 12 state attorneys general, led by California Atty. Gen. Rob Bonta, to freeze the deal while the court delves more closely into its impact on markets.

The order pauses the deal for 14 days. Martínez-Olguín’s ruling sets up a showdown for Aug. 3, when she considers a motion for a preliminary injunction — which, if granted, could tie up the deal for months in advance of a trial.

“This is a critical first win in our case to ensure this megamerger never sees the light of day,” Bonta said in a statement. “History tells the tale of what happens when a few people have great power over markets that are central to Americans’ lives: fewer opportunities for more people, worse products and services for all people.”

Two century-old film studios — with rights to Harry Potter, Batman, Scooby-Doo, “Top Gun,” “Ted Lasso” and “Game of Thrones” — would be combined, and HBO, CNN and HGTV would come under new ownership.

“The judge basically said, ‘Look, let’s not race to the finish line here,’” Eric Talley, a Columbia Law School professor, said in an interview. “At the end of the day, maybe this thing gets signed off on, but I think the AGs are going to be given a fair chance to bring their claims forward.”

The ruling dealt a blow to tech scion David Ellison’s efforts to quickly finalize his massive merger, which has the support of President Trump. Ellison wants to complete the deal by September to avoid a higher payout to Warner Bros. Discovery shareholders.

Paramount, in a statement, said the restraining order simply preserves the status quo, which Paramount had already pledged to do in court papers last week that offered to hold off on finalizing the transaction.

“We are confident the evidence will demonstrate that the State AGs’ antitrust arguments are without merit as their alleged markets and claims of anticompetitive effects are without any basis in modern market realities,” Paramount said in the statement.

Larry Ellison, co-founder of software giant Oracle, is bankrolling his son’s ambitions to acquire a second major entertainment company in less than a year. The Ellison family acquired the smaller Paramount in August.

The Democratic state attorneys general, including from New York, New Mexico, Nevada, Oregon and Washington, filed their lawsuit a week ago.

The 37-page lawsuit alleges that Paramount’s proposed takeover — the largest Hollywood deal in decades — would violate the U.S. Clayton Antitrust Act, a century-old law to prevent mergers that weaken competition and raise costs for consumers.

The lawsuit represents the stiffest challenge to a deal that had been swiftly clearing its various regulatory hurdles. Nearly two dozen regulators from around the globe, including Australia, Austria and Saudi Arabia, have already signed off.

The U.S. Justice Department last month approved the merger, saying the combination would probably bolster competition — not harm it. That decision wasn’t a surprise because Trump has been rooting for a CNN shakeup. The president told the network’s Jake Tapper earlier this month: “We’re trying to have CNN go on a normal path.”

“This merger is lawful, pro-competitive, and will benefit consumers, creators, workers, and the entertainment industry,” Paramount said. “We will continue to vigorously defend the transaction and will look forward to the hearings on the substance of the State AGs’ action.”

Paramount shares slid 2% to $8.57 on Monday. Warner shares tumbled nearly 4% to $25.86 — the stock’s lowest mark this year.

Martínez-Olguín’s order came after a hearing in Oakland on Friday that represented an opening salvo between the two sides in the fight over a merger that would dramatically reshape the entertainment industry.

“In many ways this case is a poster child for a much larger set of questions — some of which are specific to the entertainment industry but many are more specific to our regulatory state in general,” Talley said.

Because of the case’s expedited status, the judge said she looked closely at only one of the three markets where the plaintiff states allege the merger could bring anticompetitive harms — wide-release Hollywood films.

“Plaintiffs present compelling evidence that the combined firm resulting from the transaction will possess substantial market share in the wide-release theatrical distribution market,” Martínez-Olguín wrote in her 10-page order.

If allowed to merge, Paramount-Warner Bros. would control about 27% of the market of films that are initially released into more than 3,000 theaters.

“On this combined firm market share alone, the Court is persuaded that it can presume the proposed merger is likely to violate antitrust laws,” the judge wrote.

The ruling doesn’t signal that the states will win but, Talley said: “This is an important mark in the road that suggests that, in the eyes of the judge, at least one of their allegations has the seeds of a valid case.”

Paramount and Warner Bros. Discovery are “temporarily enjoined and restrained from closing or consummating the transaction or taking any steps, directly or indirectly, to integrate or consolidate their operations pursuant to the transaction,” the judge wrote.

The order extends to all officers, attorneys, and “other persons who are in active concert or participation with Defendants,” Martínez-Olguín wrote.

The merger is far from dead, Emarketer senior analyst Ross Benes said in a statement after the ruling.

“The order is likely to be a speed bump,” Benes wrote. “Thanks to the company’s symbiotic relationship with Trump, most challenges ahead that could stop the deal will be steamrolled.”

July 13 (UPI) — Mexico announced the United States will begin to restore Mexican sugar’s access to its market, a measure that could significantly increase exports during the 2026-2027 season and boost income for about 170,000 sugarcane producers.

Mexico’s presidency said in a statement released Friday that the measure is the result of talks with U.S. authorities led by President Claudia Sheinbaum since November 2025.

The U.S. Department of Agriculture estimated the country will need to import up to 1,152,000 tons of Mexican sugar during the 2026-2027 marketing year, an amount 512% higher than the estimate for the current marketing year, according to the statement.

The estimate appears in the World Agricultural Supply and Demand Estimates report published by the U.S. Department of Agriculture on July 10, the Mexican government said.

The presidency said the new conditions could generate a potential increase of up to 4.76 billion pesos, about $272 million, in the price paid by the sugar industry to about 170,000 Mexican sugarcane producers.

The talks that led to the announcement began in November 2025 during a visit by U.S. Agriculture Secretary Brooke Rollins to Sheinbaum, the statement said.

The Mexican government said the outcome demonstrates that “through dialogue it is possible to build important agreements” benefiting agricultural producers and food consumers in both countries.

Sugar trade between Mexico and the United States has been regulated since late 2014 under the so-called suspension agreements, according to background information published by the Latin American and Caribbean Economic System.

In June 2017, the governments of both countries reached an agreement in principle that reduced the share of refined Mexican sugar to 30% of total imports from the previous 53% limit, while increasing the share of raw sugar, the regional organization reported.

The U.S. sugar industry initially refused to support that agreement. Then-Commerce Secretary Wilbur Ross said Mexico had accepted nearly all of the requests made by the industry, but U.S. producers still did not support the proposed terms.

U.S. refiners argued that high-quality Mexican raw sugar was reaching consumers directly instead of passing through their plants, according to the Latin American and Caribbean Economic System.

The dispute involved a coalition of U.S. sugarcane and sugar beet producers, as well as ASR Group, maker of Domino Sugar, and Imperial Sugar.

ASR Group and Imperial Sugar said at the time that the 2014 agreement did not provide sufficient supplies for their refining operations and had asked the U.S. government to end the pact, the regional organization reported.

At least 27 people were killed and 63 injured, many critically, after a fire ripped through a popular pub in Bangkok. Authorities are investigating whether the pub, located near the iconic Chatuchak Weekend Market, had adequate escape routes.

Published on
09/07/2026 – 13:31 GMT+2

In a draft regulation obtained by Euronews and due to be presented in September, the European Commission plans to tighten access to the EU market by allowing public authorities to exclude foreign companies that present risks of interference from public procurement.

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The draft proposal comes amid heightened geopolitical tensions, with concerns over data leaks from sensitive public services to Beijing and Washington and as well as the weaponisation of the EU’s dependence on rare earths and technology products from China.

The draft document proposes that “public buyers shall take appropriate measures, where relevant at any stage of the procurement procedure, from planning and market consultation to contract award and execution, to ensure the protection of the security and public safety interests of the Union.”

The document adds that risks to security or public safety in a public contract may arise from firms whose “ownership, control, or financing structure” bears “risks of undue interference or influence over it,” as well as companies whose “exposure to third-country legislation […] may compel disclosure of sensitive information or interference with contract performance.”

Finally, public buyers would be allowed to introduce a European preference in public procurement, although the draft regulation would not make it compulsory.

Such provisions could confirm the EU’s protectionist shift towards a “Made in Europe” strategy, which the EU executive already proposed last March for strategic sectors such as clean technologies, the automotive industry and energy-intensive industries.

The risks of foreign interference and data transfer have become more acute in recent years, with the US and China both adopting legislation allowing them to request that companies under their jurisdiction transfer data stored in the EU.

Some European governments are already taking steps to mitigate these risks. In April, the French government ended its contract with Microsoft to protect French health data, and in June, it replaced US tech company Palantir with French company ChapsVision for the processing of sensitive information held by the the country’s domestic intelligence service, the Directorate General for Internal Security.

Over the last few years, several EU countries, including Germany, France, Italy and Denmark, have also cancelled or denied public contracts to the Chinese telecoms giant Huawei over security concerns.

The draft regulation also seeks to protect “critical infrastructure, critical supply chains, critical technologies or essential services, resilience against physical, cyber, or hybrid threats, and prevention and protection against risks of their disruption including due to harmful strategic dependencies on third-country suppliers.”

Last year, China cut off the EU from exports of rare earth minerals, which are essential for green technologies and the defence sector. It also stopped the Dutch-based Nexperia, owned by China’s Wingtech, from importing Chinese chips essential to the EU’s car industry.

Published on 07/07/2026 – 11:28 GMT+2•Updated
11:34

The South Korean technology giant Samsung said on Tuesday it expects operating profit of about 89.4 trillion won (€51bn) for the April-June quarter, roughly nineteen times the 4.7tr won (€2.7bn) it earned a year earlier and more than it made in the previous three years combined.

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The extraordinary numbers reflect the same force reshaping the memory industry worldwide: the race to build AI data centres has pushed chip prices to record highs.

According to Citi Research, average selling prices for DRAM memory rose 44% quarter on quarter, and NAND flash 53%, as AI demand spilled beyond specialised high-bandwidth memory into the conventional chips that go into phones, servers and PCs, with customers now chasing longer-term supply contracts.

The estimate beat analyst forecasts, but far from celebrating, the market sold.

Samsung shares fell by over 10% before closing nearly 7% lower, dragging rival SK Hynix and the wider Kospi index down with them.

Samsung’s stock has more than doubled this year alone, so a historic quarter was already priced in, and leveraged local ETF products tracking the shares have made them prone to outsized moves.

There was also a blemish in the numbers as revenue of 171tr won (€97.6bn), though up 129% year on year, came in slightly below forecasts.

“We believe the slight revenue miss was largely driven by more moderate DRAM price hikes than expected, which likely spooked investors who are increasingly pricing in structural strength in memory prices,” said Jing Jie Yu, an analyst at Morningstar.

Hanging over everything is durability.

Investors are increasingly asking whether the technology giants bankrolling the AI build-out can sustain their spending without piling up debt against a payoff that remains unproven, the worry behind last week’s chip sell-off across Asia.

Samsung publishes its full results, with a breakdown by division, on 30 July, a report the market will scour for clues about whether the boom is structural or simply another memory cycle nearing its peak.

Additional sources • AP

July 6 (UPI) — Stock in Dell Technologies jumped Monday morning after President Donald Trump promoted the company while opening the stock exchange from the Oval Office.

Dell CEO Michael Dell and Susan Dell were in the Oval Office along with investor Brad Gerstner, Treasury Secretary Scott Bessent and Sen. Ted Cruz, R-Texas, as Trump rang the opening bell. The president used the moment to encourage the purchase of Dell computers, preceding a 7% increase in Dell stock.

“Go out and buy a Dell computer,” Trump said. “Michael and Susan Dell, they are truly incredible.

The Dells donated $6 billion to the Trump Accounts program for children. Public financial disclosures show that Trump actively traded Dell stock in 2025, making 24 trades and purchasing stock 16 times.

We’re going to get him that money back one way or the other,” Trump said. “Then I’ll ask for another $6 billion. We’ll start the whole process all over again.”

Monday’s Oval Office event recognized the opening of the Trump Accounts on Saturday. The accounts are available to children 18 or younger and include a $1,000 contribution from the U.S. Treasury Department for babies born from 2025 through 2028.

“The American dream belongs to every child, and today we are equipping the next generation with the right to claim their rightful share of it,” Bessent said.

New York Stock Exchange president Lynn Martin was also in attendance in the Oval Office.

This town’s market is over 900 years old and has a breath-taking high street filled with historic buildings, family-run businesses and lots of independent shops you cannot get anywhere else.

While many people splash out on pricey holidays this summer, you can have an equally magical experience right here in the UK. With a wealth of stunning destinations to discover, there are countless charming towns ideal for a short break but this gem, nestled in the West Midlands, deserves to be at the very top of your list.

This historic market town is brimming with character and as you stroll through its centre you’ll uncover a breath-taking blend of medieval, Tudor and Georgian architecture. It has been named by The Guardian among Britain’s 10 “best independent high streets”, not for its looks alone, but for being “full of cool independents rather than the usual chains”.

They said: “Ludlow has long been known as a gastro-hub, with specialist producers dotted along the high street and market place. Visit the Mousetrap Cheese Shop, Harp Lane Deli and the Chocolate Gourmet for festive eats, or browse around Bodenhams, which sells clothes in a quirky, 600-year-old building.”

Why visit Ludlow?

There are so many one-of-a-kind businesses to explore when you arrive in Ludlow, but your first port of call should be the traditional marketplace sitting right at the heart of the town square.

Having been trading for over 900 years, it boasts all manner of stalls ranging from flea markets to artisan crafts, ensuring there is something to suit every pocket.

Ludlow Market is a treasure trove of finds, and is also well regarded for its monthly specialist events, including the Food and Craft Market, the Local to Ludlow Producers’ Market, and an Antique Market.

Once you’ve had a good rummage through the local shops, your suitcase will be packed to the brim with gifts to take home, thanks to a wealth of family-run businesses such as Bensons, which stocks jewellery, and Florabunda, a florist.

If you work up an appetite, head to the Ludlow Farmshop, selling locally sourced meats, cheeses, baked goods and other regional delicacies you won’t find anywhere else.

What else is there to do in Ludlow?

Ludlow has built a reputation for championing independent businesses, but should you tire of shopping and eating, there is plenty more to discover. Perhaps the most unmissable attraction is Ludlow Castle, a stunning 11th-century ruin built by the Normans that boasts breathtaking views across the surrounding countryside.

It is also well worth taking a leisurely stroll along the River Teme to admire Ludford Bridge, which not only looks spectacular but also dates back to medieval times.

Just a short drive away lies Mortimer Forest, offering miles of gorgeous scenery, whether you fancy a gentle woodland walk or fancy tackling the climb up to High Vinnalls, the loftiest point within the forest.

Ludlow ticks every box for those seeking a quintessential English town getaway, boasting historic streets, charming independent shops, mouth-watering local cuisine and stunning countryside right on its doorstep — making it an ideal destination for anyone in search of a laid-back summer staycation.

‘We are over 100 businesses strong’

Jodie Deakin, who owns local independent business, Eclectica, and is chair of Ludlow Chamber of Trade and Commerce, which members pay £50 a year to join, told a visiting journalist earlier this year: “We are over 100 businesses strong and have everything from retail businesses like mine to professional services like solicitors.”

Of the market, she said: “These are permanent market stores, so they’re here seven days a week. It’s owned by our town council, so it’s the revenue stream for them and they run the market most days, but also lease it. Ludlow Local Produce Market is one of the leased markets. To be a vendor, you have to produce everything within a 30-mile radius.”

Manager Tish Dockerty said of Ludlow Local Produce Market at the same time: “Everything that’s sold is either made by the person on the stall or the person that’s selling it, so they can tell you how it’s made.”

The Lakers are trading center Deandre Ayton to the Washington Wizards for guard Jaden Hardy and two second-round draft picks, in 2031 and 2032, people not authorized to speak publicly confirmed to The Times on Friday.

Ayton had returned to the Lakers after an up-and-down first season with the team, picking up his player option for $8.1 million last Sunday. But he became expendable once the Lakers agreed to acquire 24-year-old center Walker Kessler from the Utah Jazz and sign him to a four-year, $130-million contract.

The Ayton trade leaves the Lakers in the market for a backup center. Several veterans including Jonas Valanciunas and Kevon Looney still are available.

The Lakers acquired Ayton before last season after the Portland Trail Blazers bought out his contract, signing him to a two-year, $16-million deal. He averaged career lows of 12.5 points and 8.0 rebounds last season, but shot 67.1% from the field while starting 72 games, both career highs.

The Wizards believe the 7-foot Ayton will be a good fit alongside centers Anthony Davis and Alex Sarr.

The 6-3 Hardy, who spent three-plus seasons with the Dallas Mavericks before being traded to Washington in February, averaged 9.2 points, 1.5 rebounds and 1.0 assists while shooting 42.4% from the field and 39.7% from three-point range last season.

When Klarna chose New York over Europe for its stock market listing, it highlighted a challenge Brussels has been trying to solve for years: Europe’s fastest-growing companies often look across the Atlantic for deeper pools of capital.

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As the EU seeks to build its own AI champions, strengthen its defence industry and keep more high-growth companies raising money at home, one question remains: why does a bloc with €37tn in household savings still struggle to finance its own fastest-growing businesses?

Now the European Union has stepped up efforts to reform its capital markets, aiming to make capital flow more freely across the bloc.

Policymakers are pursuing incremental reforms, including greater supervisory alignment, but a fully unified capital market is likely to take many years, as member states struggle to agree on key technical details, slowing the process.

The competitiveness challenge

The current speed of negotiations does not reflect the urgency being expressed by the EU’s political leadership: Europe needs more integrated capital markets to compete globally with major powers such as the US and China.

To do so, billions need to be invested in strategic sectors such as AI and defence, amid intense geopolitical uncertainty, including wars and trade tensions.

Lacking strategic industrial and technological leadership means sacrificing geopolitical power and economic resilience, especially in a global landscape where dominance, or even survival, depends on control over resources and expertise.

This narrative has been championed by leading EU politicians, including European Commission President Ursula von der Leyen, whose goal of making Europe more competitive on the global stage has become the North Star of her political mandate.

For this reason, von der Leyen tasked former European Central Bank President and Italian Prime Minister Mario Draghi with preparing a report on EU competitiveness, which identified capital markets reform as one of its central recommendations.

Presented in autumn 2024, the report says Europe needs €750bn-€800bn in investment each year, equivalent to up to 5% of GDP, to fulfil its competitiveness goals and remain globally competitive.

“It’s ‘Do this,’ or it’s a slow agony,” Draghi warned in one of his best-known remarks. Draghi describes this “agony” as a prolonged and cumulative erosion of Europe’s economic position, driven by structural weaknesses such as high energy costs and a fragmented single market, which together make the continent less conducive to investment and innovation.

The EU is focusing on two priorities to unlock the potential of its capital markets.

The first is convincing households to invest, mobilising a small percentage of the estimated €37tn in savings. The second is integrating national financial markets across the EU to reduce barriers within the single market, making it easier for businesses to raise funding and for investors to put their money to work.

For this to happen, households need better access to capital markets, along with a better understanding of how to invest and the potential benefits involved. For example, greater participation in financial markets can help individuals build their retirement savings.

At the same time, Brussels must advance the legislative framework — known as the Savings and Investments Union (SIU) — to enable these reforms to take place.

Why do businesses find it easier to seek funding in the US?

Capital markets are marketplaces where individuals, institutions and governments buy and sell long-term financial instruments, such as equities or debt.

They offer businesses a way to raise funds and support their growth. However, scaling up in Europe remains challenging. Cross-border operations can be costly, time-consuming and involve significant administrative burdens. This is because rules differ between member states, and even where they are the same, their implementation may differ.

These are among the reasons why firms in Europe obtain most of their financing through bank credit.

“What we need to develop is a more diversified funding source,” the head of the European Securities and Markets Authority (ESMA), Verena Ross, told Euronews in an exclusive interview with Euronews Business editor Angela Barnes.

Without enough diversification, businesses look for other markets where funding is more readily available, such as the US.

“The US capital market benefits from a more consolidated supervisory approach. There are fewer layers of bureaucracy and red tape because the US uses a single currency,” Rebecca Christie, senior fellow at Brussels-based think tank Bruegel, told Euronews.

Christie also said the US benefits from having a long-established federal system and from the dollar’s status as the world’s dominant reserve currency, both of which reduce barriers and increase its attractiveness.

“Anybody who needs financing has an incentive to go to US markets because that’s where the money is,” she said.

A less fragmented European capital market would have far-reaching implications, including making more capital available for strategic investments and strengthening the euro’s international role as a global currency — another major ambition of the current EU leadership amid the dollar’s declining role.

“We live in a global world and, particularly, capital markets are global by their nature. We also need to be attractive to overseas investors, whether they are American, Asian or from wherever they come, and make sure that Europe is a destination for that investment capital,” Ross told Euronews.

Why is a capital markets union so hard to achieve?

Despite broad agreement that capital markets need greater integration, there is still strong disagreement over how to make it happen.

The capital markets union legislation forms part of the Savings and Investments Union (SIU), a package of legislative proposals currently under negotiation.

One of the key pieces of legislation aimed at harmonising capital markets is the Market Integration and Supervision Package, known as MISP.

Despite the intensification of talks on MISP in recent months, member states have yet to reach a common position, particularly on how to harmonise capital markets supervision.

Last spring, the six largest European economies — Germany, France, Spain, Italy, Poland and the Netherlands — made a proposal setting out how to centralise supervisory powers.

In particular, they propose transferring some supervisory powers to ESMA, but there is no consensus on whether to proceed, an EU diplomat told Euronews on condition of anonymity. Even among those who agree, there are differing views on how and over what timeframe this should be implemented.

“The problem with the integration of capital markets is not even a political one; it is more a national issue,” Aurore Lalucq, chair of the European Parliament’s Committee on Economic and Monetary Affairs, who played an important role in the legislation, told Euronews.

“I think there will be progress in supervision, but there are a lot of details that will be tough to negotiate due to very different perspectives,” Lalucq added, referring to the fact that member states have very different capital market cultures.

Klarna’s decision to look across the Atlantic for deeper capital markets illustrates the challenge Europe faces. While there is broad agreement that the bloc needs to mobilise more private investment, national interests continue to slow progress towards a truly unified capital market.

Mercedes’ George Russell took his second win of the season with victory from pole position at the Austrian Grand Prix.

Max Verstappen recovered from a crash in the final part of qualifying to finish second at Red Bull’s home race, with championship leader Kimi Antonelli in third.

Russell’s win moves him back up to second in the drivers’ standings, 40 points behind team-mate Antonelli.

BBC F1 correspondent Andrew Benson answers your latest questions before this weekend’s British Grand Prix at Silverstone.

I think a pole position under a yellow flag sets a dangerous precedent, because it’s clear that from now on, everyone will continue to push hard after a small slow down, or else their lap will be cancelled. I’d be curious to hear your opinion – Lorenzo

George Russell’s pole position at the Austrian Grand Prix, the foundation for his victory on Sunday, came about in controversial circumstances.

According to the rules, Russell did nothing wrong.

Marshals trackside initially waved a single yellow flag when Max Verstappen crashed at Turn Nine.

Kimi Antonelli mis-read the light board as a double yellow, and backed out of his lap – the correct response for what he thought to be the case. Under a double yellow, drivers have to “slow down and be prepared to stop”.

But under a single yellow, a driver does not have to abandon their lap. They only have to not set a fastest time in the relevant section of the track.

Russell complied with this, but the rest of his lap was fast enough to put him on pole anyway.

The concern here is less the specifics of these rules, but whether the correct flag was shown in the circumstances.

The answer to that has to be no.

Verstappen crashed at the fastest corner on the track, which is taken at close to 140mph.

Turn Nine is notoriously challenging, with its downhill entry, and an exit kerb that’s easy to over-run.

Both Verstappen and Antonelli questioned the decision to show only a single yellow at the time, when Verstappen’s car was in the barrier at this corner as other drivers were seeking to set what would be their fastest laps of the weekend.

Verstappen described it as “quite crazy”.

Antonelli said: “There was a car in the wall in a fast corner. I don’t know why it didn’t go double-yellow straight away, because it’s a super-quick corner, and if you go off at the same time, it can end up very badly. That was a bit confusing.

“For sure it’s something that needs to be reviewed, especially when it happens in a high-speed corner.

“If it’s a slow-speed [corner], single yellow can be OK but fast corners should be double yellow straight away.”

To underline the point, within 20 seconds, race control upgraded the flag to a double yellow, but everyone had completed their laps by then.

Riverside-based radio station, 99.1 KGGI, has lost its last local on-air host.

Longtime radio personalities Evelyn Erives, Nick Nack and Garrison King were all cut from the Inland Empire station last week as part of iHeartMedia’s latest round of national layoffs. In an internal memo, the media giant said it would restructure its radio programming to better “leverage” the company’s technology.

iHeartMedia declined to comment on how many people lost their jobs, but dozens of on-air and other staff positions have reportedly been cut across the country.

The memo — attributed to Chief Programming Officer Tom Poleman and Ann Marie Licata, the chief executive of the company’s multiplatform group — framed the changes as a way to “move faster and operate with greater precision across markets,” and to “position us not just to adapt to the future, but to lead it.”

The cuts are part of a broader push to reduce costs. In May, iHeartMedia launched a new savings program, set to begin in the second half of 2026, aimed at trimming an additional $50 million on top of the $100 million in savings the company had already announced.

iHeartMedia is the nation’s largest radio operator, with more than 850 stations across 160 markets and a sizable presence in Burbank. Its Los Angeles–area stations include KFI-AM 640, KLAC-AM 570, KOST-FM 103.5 and KIIS-FM 102.7.

As the media landscape continues to evolve, the company has leaned harder into podcasting, home to hallmark shows like “Stuff You Should Know,” “Questlove Supreme” and “Las Culturistas.”

Last year, iHeartMedia introduced its “Guaranteed Human” campaign, an ongoing pledge that no iHeartMedia station or podcast will feature an AI-generated personality or AI-generated music.

How that promise squares with the layoffs is unclear. With stations like Riverside’s 99.1 now stripped of their local hosts, the company has said nothing about who — or what — will replace them.

SEOUL, June 25 (UPI) — South Korea’s industrial valve maker Komoto said Thursday that it is seeking to expand into the Kazakh market after wrapping up a field demonstration project in the Central Asian country.

The company said that it completed the installation and operational tests of its solar-powered smart flow control and SCADA system at a demonstration site in Kazakhstan.

Short for supervisory control and data acquisition, SCADA is an industrial automation system that enables operators to monitor, control, and collect real-time data from infrastructure remotely.

Following the successful trial, the system received final field performance certification from Kazvodkhoz, Kazakhstan’s state-owned water resources agency, according to Komoto.

The firm noted that the project confirmed the applicability of its technology to remote agricultural waterways and irrigation facilities not only in Kazakhstan but also across Central Asia.

Komoto CEO Ryan MK Ko said that the company plans to expand its presence in overseas water industry markets, particularly in Central Asia.

“Our biggest competitive edge is that our system allows for the stable operation of water management facilities even in remote areas with limited access to commercial power and communication infrastructure, while significantly reducing costs compared with conventional options,” Ko said in a statement.

“Based on the technology and operational data accumulated through pilot projects both at home and abroad, we will further advance our automated control and intelligent water management features,” he added.

Komoto is not publicly listed. It was founded in 1988 with technology and capital support from Motoyama, one of Japan’s leading manufacturers of industrial equipment, including valves.