live U.S. aircraft damaged in Jordan air base strikes as explosions hit southern Iran
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, ...
As European NATO countries rush to strengthen their armed forces, large pension bills threaten to divert funds from urgently needed military hardware.
European NATO members are racing to boost defence capabilities amid growing security concerns over Russia and doubts about long-term U.S. support. But generous military pensions are quietly eating into defence budgets, complicating efforts to strengthen firepower.
Reuters analysis of budget data from 13 NATO members shows that pensions consume an average of 12% of defence spending - reaching nearly 20% in Belgium, Bulgaria and Italy, and 16% in France. These costs, while included in NATO’s spending figures, do not translate into new equipment or operational strength.
Germany, with a lower pension share at 11.5%, appears better positioned to expand its military capabilities, while countries like France and Italy risk falling short of NATO targets if pension costs are excluded.
Although 23 of NATO’s 32 members claim to meet the alliance's 2% of GDP spending goal, that number drops significantly when pension spending is excluded. For instance, France barely meets the threshold, and Italy has reclassified pensions to meet NATO expectations.
Some countries, such as Belgium, are considering reforms like raising the military retirement age from 56 to 67. However, adjusting pension systems is politically sensitive and may affect recruitment and morale.
"If you don’t invest in the people behind the weapons, you’ll end up with empty tanks and no one to drive them,” warned Emmanuel Jacob, head of European soldiers’ rights group Euromil.
As NATO eyes even higher spending benchmarks - up to 5% of GDP, as demanded by U.S. President Trump - Europe faces a hard choice: fund more missiles and drones, or continue supporting costly military pensions that deliver no combat edge.
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, explosions were heard across parts of southern Iran according to local media reports.
Wildfires have broken out in Türkiye’s Antalya province, forcing hundreds of people to evacuate as strong winds fuelled the flames.
Iran’s Revolutionary Guards (IRGC) said on Wednesday they attacked two U.S. vessels and eight oil tankers in the Persian Gulf, calling the strikes a response to a U.S. attack on five Iranian tankers.
Ukrainian forces struck a Russian oil refinery in Siberia and a seaport in Dagestan in the past 24 hours, President Volodymyr Zelenskyy said. He will meet Canadian Prime Minister Mark Carney on Thursday to discuss air defences for Ukraine over winter.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
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