“This is not the first time the Kremlin has made malicious and baseless accusations against our staff,” the foreign office said in a statement
International News via Reuters:
The British government said on Thursday it was “carefully considering” its response after Russia expelled a British diplomat who it said was an undeclared officer in Britain’s intelligence services.
“This is not the first time the Kremlin has made malicious and baseless accusations against our staff,” the foreign office said in a statement.
“Their targeting of British diplomats comes out of desperation and actions like this undermine the basic conditions required for diplomatic missions to operate,” it added.
Reporting by Muvija M; Writing by Catarina Demony, editing by William James
The antitrust authority said it has received complaints from private businesses as well as many government agencies and public companies over significant price hikes of Microsoft’s product licenses
International News via Reuters:
Switzerland’s competition commission said on Thursday it launched a preliminary investigation into Microsoft’s licensing fees in the country.
The antitrust authority said it has received complaints from private businesses as well as many government agencies and public companies over significant price hikes of Microsoft’s product licenses, which may indicate an unlawful restriction of competition.
“Should such indications be confirmed, this could warrant the opening of a formal investigation,” the agency, also known as COMCO, said in a statement.
“Microsoft is committed to complying with Swiss competition law and will cooperate with the Swiss Competition Commission in its preliminary investigation,” a Microsoft spokesperson said.
Reporting by Linda Pasquini and Oliver Hirt, editing by Muralikumar Anantharaman and Thomas Seythal
The Crew Dragon capsule parachuted into calm seas off San Diego at about 12:45 a.m. PST, capping a 10-hour-plus descent from the International Space Station and fiery re-entry through Earth’s atmosphere
International News via Reuters:
A SpaceX capsule carrying a four-member crew home from orbit in an emergency return to earth necessitated by an undisclosed serious medical condition afflicting one of the astronauts splashed down safely early on Thursday in the Pacific Ocean off California.
The Crew Dragon capsule parachuted into calm seas off San Diego at about 12:45 a.m. PST (0845 GMT), capping a 10-hour-plus descent from the International Space Station and fiery re-entry through Earth’s atmosphere, carried live by a joint NASA-SpaceX webcast.
Reporting by Steve Gorman in Los Angeles; Editing by Aidan Lewis
A meeting of officials from the United States, Denmark and Greenland on Wednesday avoided the public humiliation meted out to Ukrainian President Volodymyr Zelenskiy last year
International News via Reuters:
Military personnel from France and Germany headed to Greenland on Thursday as Denmark and its allies prepared for exercises to try to assure U.S. President Donald Trump over its security as he pushes to acquire the island.
A meeting of officials from the United States, Denmark and Greenland on Wednesday avoided the public humiliation meted out to Ukrainian President Volodymyr Zelenskiy last year, but also produced no quick fix for the dispute.
Trump has said the strategically located and mineral-rich island is vital to U.S. security and the United States must own it to prevent Russia or China occupying it. He has said all options are on the table for securing the territory, which is an autonomous territory of Denmark.
He says Denmark is not capable of warding off Russian and Chinese influence in the Arctic region.
PROMISE TO BEEF UP ARCTIC DEFENCE
Greenland and Denmark say the island is not for sale, that threats of force are reckless and security concerns should be resolved among allies.
Prominent EU countries have backed Denmark with many leaders warning a U.S. military seizure of the island could in effect spell the end of NATO.
Ahead of the meeting, Greenland and Denmark said they had begun to increase their military presence in and around Greenland in close cooperation with NATO allies, as part of their promise to beef up Arctic defence.
European allies including Germany, France, Sweden and Norway have said they are sending military staff to Greenland to begin preparations for larger drills later this year.
“The Danish Armed Forces, together with a number of Arctic and European allies, will explore in the coming weeks how an increased presence and exercise activity in the Arctic can be implemented in practice,” the Danish Ministry of Defence said.
So far the scale of the planned military build up has not been made public, but the initial deployments appeared to be small. The German Armed Forces were deploying a reconnaissance team of 13 personnel to Nuuk on Thursday morning aboard an Airbus A400M transport aircraft, the German Defence Ministry said.
Nonetheless, the European military increase to Greenland was a message to the U.S. administration, Marc Jacobsen, an associate professor at the Royal Danish Defence College, told Reuters.
“There are two messages … one is to deter, is to show that ‘if you decide to do something militarily, we’re ready to defend Greenland’,” he said.
“And the other purpose is to say: ‘Well, we take your critique seriously, we increase our presence, take care of our sovereignty, and improve surveillance over Greenland’.”
TALKS AGREE TO WORKING GROUP
After the talks at the White House with Secretary of State Marco Rubio and Vice President JD Vance, Danish Foreign Minister Lars Lokke Rasmussen and his Greenlandic counterpart Vivian Motzfeldt said the U.S. and Denmark would form a working group to discuss a broad array of concerns regarding the island.
But they also acknowledged that Washington had not budged on its position that it must acquire Greenland, an outcome they said would represent an unacceptable breach of sovereignty.
Late on Wednesday, a Danish Air Force plane landed at Nuuk airport and personnel in military fatigues disembarked for the exercises, footage showed.
France was also joining the deployment. “The first French military elements are already en route. Others will follow,” President Emmanuel Macron said on X.
Olivier Poivre d’Arvor, France’s ambassador to the Poles, told France Info radio: “We will show the United States that NATO is there, that Denmark has dramatically increased its surveillance capabilities in Greenland and that the European Union is contributing to ensure the national security of the region as a whole.”
Reporting by Jacob Gronholt-Pedersen in Nuuk and Terje Solsvik in Oslo; Additional reporting by John Irish in Paris, Tom Little in Copenhagen and Gwladys Fouche in Oslo; Writing by Niklas Pollard; Editing by Alison Williams
Traders priced in around 40 basis points (bps) of Bank of England rate cuts by September
International News via Reuters:
Sterling slightly pared its fall against the dollar on Thursday after UK economic data showed the economy grew more strongly than expected in November, but failed to affect the policy rate outlook.
Traders priced in around 40 basis points (bps) of Bank of England rate cuts by September.
UK gross domestic product recorded the fastest growth since June, boosted by a return to full production at Jaguar Land Rover after a cyberattack which hit the carmaker and its suppliers.
“Despite the upside surprise, it is important to note that the data are by no means strong,” said Kallum Pickering, chief economist at Peel Hunt.
“Economic activity in the UK is, at best, lukewarm, lumpy and remains constrained mostly by a lack of confidence in the policy decisions of the Labour government.”
The pound was down 0.05% at $1.3443, while it was falling by around 0.10% before data.
The dollar rose as markets set aside concerns about the Federal Reserve’s independence and shifted their focus to economic data.
“The big picture remains that the UK economy has lost momentum since the summer,” said Andrew Wishart economist at Berenberg.
“We suspect that this soft patch will persist into 2026 amid ongoing job losses and fiscal consolidation,” he added, arguing that this backdrop could bring down inflation and enable the BoE to cut rates by more than the market currently prices in.
Analysts said investors were turning to economic data as the boost from easing UK fiscal and political risks that has supported sterling since Finance Minister Rachel Reeves unveiled the November budget has faded.
The next round of UK CPI inflation data is not scheduled until January 21
The euro rose 0.15% to 86.54 pence.
Wednesday’s release of China’s full-year 2025 trade data underscored a sensitive issue for the UK: the potential dumping of Chinese goods originally intended for the U.S. market.
Chinese goods exports to the UK rose 7.8% year-on-year in 2025 and 8.4% to the EU.
Reporting by Stefano Rebaudo; Editing by Bernadette Baum
The BoE’s quarterly Credit Conditions Survey also showed lenders expected demand for unsecured consumer lending to be flat after rising in late 2025
International News via Reuters:
British lenders expect to see demand for mortgages fall in early 2026 after dropping at the end of last year, according to a Bank of England survey published on Thursday.
The BoE’s quarterly Credit Conditions Survey also showed lenders expected demand for unsecured consumer lending to be flat after rising in late 2025.
Demand for corporate lending in the three months to the end of February was expected to be unchanged too, the survey showed.
The survey of lenders took place between November 10 and December 3.
Writing by William Schomberg; editing by David Milliken
Hayward argues rising incomes across sectors show economic gains are felt outside of IB
Bermuda’s economy contracted by 1.2 per cent in the second quarter of 2025, new figures show.
While employment income is up across several sectors, economic growth eased amid higher imports and reduced government spending.
Alisa Bernardo questioned Labour and Economy Minister Jason Hayward about whether that growth is being felt evenly and what’s ahead for key industries.
The Minister says rising employment income across multiple sectors suggests that economic gains are not limited to international business and that concerns about a widening wealth gap may be overstated.
Government data shows employment income was up 6.5 per cent year over year, with a near 20% gain recorded in public administration owing to a pay hike for public officers.
This was followed by international business at 8.2%, construction at 5.5% and hotels & restaurants at 4.8%.
Looking ahead, Minister Hayward described how significant the long-anticipated re-opening of the Fairmont Southampton will be in terms of boosting the economy.
The announcement came as the EU moves closer to signing its long-delayed Mercosur trade deal, a pact farmers warn could squeeze margins and weigh on young farmers’ willingness to commit to the sector
International News via Reuters:
The Spanish government on Wednesday rolled out new measures to open up access to farmland in a bid to revive an ageing farming sector, but farm groups cautioned that land alone will not keep young people in the countryside.
The announcement came as the EU moves closer to signing its long-delayed Mercosur trade deal, a pact farmers warn could squeeze margins and weigh on young farmers’ willingness to commit to the sector.
Farm unions across Europe are ramping up pressure over trade and farm incomes.
Prime Minister Pedro Sanchez said the government will launch a platform to centralise farmland data and unlock underused land, with around 17,000 state-owned rural plots to be assessed for use by young farmers.
Spain’s farm sector faces a sharp demographic imbalance, with about 40% of holders over 65 and fewer than 9% under 41, government data showed, mirroring an ageing trend across European agriculture.
Farm groups broadly welcomed efforts to improve access to land, but warned the measures would have limited impact unless broader economic pressures were addressed.
“Access to land is one of the main problems, but it’s far from the only one,” Luis Perez, a youth representative at farmer association COAG, told Reuters, citing low returns, paperwork and uncertainty around trade deals like EU-Mercosur.
Farmers’ union UPA said it backed the government’s approach but stressed that speed and funding would determine whether it makes a difference on the ground, also calling for sustained backing from the Common Agricultural Policy (CAP), the bloc’s main farm subsidy programme.
Sanchez said Spain would push for 10% of CAP funds to be set aside for generational renewal, despite limited support among EU governments.
Reporting by Jesus Calero, editing by Andrei Khalip and Ed Osmond
The British central bank is considering what failure arrangements are needed for important stablecoins and it still has to do more to ensure that firms and the BoE are ready to wind up a central counterparty safely
International News via Reuters:
The Bank of England is making progress towards ensuring that the financial system is safe in the event of a collapse of an institution outside the traditional banking sector, Deputy Governor Dave Ramsden said on Wednesday.
The British central bank is considering what failure arrangements are needed for important stablecoins and it still has to do more to ensure that firms and the BoE are ready to wind up a central counterparty safely, Ramsden said.
“Looking ahead, it’s important our resolution regime responds to changes in the financial system, including the growth of market-based finance and structural developments such as the introduction of new financial products,” he said in the text of a speech he was due to give at King’s College London.
Writing by William SchombergEditing by David Milliken
The recall could threaten Nestle’s strong position in China and other large markets for infant formula, thrusting CEO Philipp Navratil into crisis-management mode within a few months of being appointed
International News via Reuters:
Nestle’s CEO has issued a video apology for the recall of some batches of the company’s infant nutrition products in dozens of countries as the Swiss consumer goods giant stepped up its damage-limitation measures.
The recall could threaten Nestle’s strong position in China and other large markets for infant formula, thrusting CEO Philipp Navratil into crisis-management mode within a few months of being appointed to revitalise the multinational after a period of management turmoil.
At least 53 countries across Europe, the Americas, Asia and Africa have issued health warnings over infant formulas recalled by Nestle because of possible contamination with cereulide, a toxin that can cause nausea and vomiting.
Nestle shares, which have fallen by about 4% since the recall began in January, rose by 0.6% on Wednesday.
CEO APOLOGISES FOR ‘WORRY AND DISRUPTION’
Navratil, who is seeking to revive growth through a portfolio review, apologised for the “worry and disruption” the recall caused for parents, caregivers and other customers.
In the video published late on Tuesday, he said there have been no confirmed cases of illness linked to the recalled batches of SMA, BEBA, NAN and Alfamino formula, which were potentially contaminated by a quality issue in an ingredient called arachidonic acid oil (ARA) from a leading supplier.
Nestle confirmed a quality concern at one of its factories in the Netherlands in December and began a precautionary recall across several European countries, Navratil said.
“We have suspended sourcing ARA oil from the supplier concerned,” a Nestle spokesperson said, declining to name the supplier. “We have already restarted production using safe oil from another supplier.”
Amsterdam-listed ARA producer dsm-firmenich said that none of its products had been affected by the Nestle recall. Chinese company Cabio Biotech, shares of which plunged almost 12% on January 8, did not respond to a request for comment.
Cabio had said in its 2024 annual report that it was developing its relationship with major clients such as Nestle and targeting international expansion.
RECALL COULD BE ‘PRETTY DAMAGING’ IN CHINA, ANALYSTS SAY
Highlighting the global nature of Nestle’s supply chains, the recall quickly spread from Europe to large countries including Brazil, China and South Africa.
Nestle is one of the largest players in China’s infant formula market, estimated at about 185 billion yuan ($26.5 billion) in 2025 by China-focused Daxue Consulting.
China’s State Administration for Market Regulation last week urged Nestle to “fulfil its corporate responsibility”, recall the relevant batches and safeguard consumers.
Barclays analysts on Wednesday noted the pressure from the Chinese authorities and said the issue could be “pretty damaging” for the company, especially in China, where mothers are particularly sensitive to this issue because of previous milk contamination cases involving various producers.
($1 = 6.9727 Chinese yuan renminbi)
Reporting by Dave Graham in Zurich and Alexander Marrow in LondonAdditional reporting by Casey HallEditing by Ludwig Burger and David Goodman
The US National Oceanic and Atmospheric Administration also confirmed in data released on Wednesday that 2025 was the third-warmest year in its global temperature record, which dates back to 1850
International News via Reuters:
Last year was among the planet’s three warmest on record, the World Meteorological Organization said on Wednesday, as EU scientists also confirmed average temperatures have now exceeded 1.5 degrees Celsius of global warming for the longest since records began.
The WMO, which consolidates eight climate datasets from around the world, said six of them – including the European Union’s European Centre for Medium-Range Weather Forecasts (ECMWF) and the British national weather service – had ranked 2025 as the third warmest, while two placed it as the second warmest in the 176-year record.
The US National Oceanic and Atmospheric Administration also confirmed in data released on Wednesday that 2025 was the third-warmest year in its global temperature record, which dates back to 1850.
All eight datasets confirmed that the last three years were the planet’s three hottest since records began, the WMO said. The warmest year on record was 2024.
THREE-YEAR PERIOD ABOVE 1.5 C AVERAGE WARMING LEVEL
The slight differences in the datasets’ rankings reflect their different methodologies and types of measurements – which include satellite data and readings from weather stations.
ECMWF said 2025 also rounded out the first three-year period in which the average global temperature was 1.5 C above the pre-industrial era – the limit beyond which scientists expect global warming will unleash severe impacts, some of them irreversible.
“1.5 C is not a cliff edge. However, we know that every fraction of a degree matters, particularly for worsening extreme weather events,” said Samantha Burgess, strategic lead for climate at ECMWF.
Burgess said she expected 2026 to be among the planet’s five warmest years.
CHOICE OF HOW TO MANAGE TEMPERATURE OVERSHOOT
Governments pledged under the 2015 Paris Agreement to try to avoid exceeding 1.5 C of global warming, measured as a decades-long average temperature compared with pre-industrial temperatures.
But their failure to reduce greenhouse gas emissions means that target could now be breached before 2030 – a decade earlier than had been predicted when the Paris accord was signed in 2015, ECMWF said.
“We are bound to pass it,” said Carlo Buontempo, director of the EU’s Copernicus Climate Change Service. “The choice we now have is how to best manage the inevitable overshoot and its consequences on societies and natural systems.”
Currently, the world’s long-term warming level is about 1.4 C above the pre-industrial era, ECMWF said. Measured on a short-term basis, average annual temperatures breached 1.5 C for the first time in 2024.
NOAA said 2025 exceeded the pre-industrial average by 1.34 C, or 2.41 F.
The U.S. agency also said that upper ocean heat content reached a record high in 2025, indicating that the Earth’s oceans reached their highest heat levels, which drives stronger storms, heavier rainfall, and rising sea levels.
EXTREME WEATHER
Exceeding the long-term 1.5 C limit would lead to more extreme and widespread impacts, including hotter and longer heatwaves, and more powerful storms and floods.
Already in 2025, wildfires in Europe produced the highest total emissions on record, while scientific studies confirmed specific weather events were made worse by climate change, including Hurricane Melissa in the Caribbean and monsoon rains in Pakistan which killed more than 1,000 people in floods.
Despite these worsening impacts, climate science is facing political pushback. U.S. President Donald Trump, who has called climate change “the greatest con job”, last week withdrew from dozens of U.N. entities including the scientific Intergovernmental Panel on Climate Change.
The long-established consensus among the world’s scientists is that climate change is real, mostly caused by humans, and getting worse. Its main cause is greenhouse gas emissions from burning fossil fuels like coal, oil and gas, which trap heat in the atmosphere.
Reporting by Kate Abnett and Valerie Volcovici; Additional reporting by William James and Emma Farge; Editing by Alison Williams, Alexandra Hudson
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