Putin and Netanyahu Discuss Middle East Peace Efforts
Russian President Vladimir Putin and Israeli Prime Minister Benjamin Netanyahu held a phone call to discuss the situation in the Middle East. Accordin...
The European Commission is challenging Italy's use of "golden powers" in the banking sector, raising concerns over potential breaches of EU law and prompting a broader debate on investment screening rules across the bloc.
The European Commission has formally challenged Italy's application of "golden powers" legislation to banking sector deals, raising concerns over potential breaches of EU law. These powers allow the Italian government to block or impose conditions on corporate takeovers in strategic sectors, including banking, energy, and telecommunications.
Originally intended to shield critical assets from foreign takeovers, particularly outside the EU, golden powers were expanded during the COVID-19 pandemic. However, their use in the banking sector—where the European Central Bank already holds supervisory authority—has prompted scrutiny from Brussels.
The Commission has initiated an EU Pilot dialogue, seeking clarification on how Italy applies these powers, particularly as Rome prepares to conditionally approve UniCredit’s proposed acquisition of rival Banco BPM. If Italy fails to provide a satisfactory explanation, formal infringement procedures may follow.
Critics argue that the increased use of golden powers has added unnecessary bureaucracy for companies, raising legal costs and creating uncertainty. Meanwhile, the EU is reviewing its foreign direct investment screening framework to ensure consistent application across member states.
Rome, for its part, is awaiting clarity on any future EU reforms before considering amendments to its national legislation. The outcome could significantly shape how strategic investments are governed within the EU.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
US President Donald Trump has sharply criticised Federal Reserve Chair Jerome Powell following the central bank’s decision to keep interest rates unchanged.
Microsoft’s market capitalization surpassed $4 trillion in after-hours trading on Wednesday following a stronger-than-expected earnings report for its fiscal fourth quarter, driven by robust growth in its cloud business.
The European Commission has said it does not view imposing network fees on major technology firms as a practical solution to the ongoing debate over funding the expansion of 5G and broadband infrastructure across the bloc.
Germany’s cabinet has approved a draft 2026 budget on Wednesday featuring record investments and a borrowing level nearly three times higher than last year’s, aiming to strengthen infrastructure and defence while efforts to revive growth.
The World Bank has announced that Tajikistan's medium-term outlook remains favourable, with growth projected to moderate to 7% in 2025 and converge toward a growth rate of 4.5% in 2026 and 5% in 2027.
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