The EU had requested clarifications from the U.S. authorities
International News via Reuters:
The European Commission strongly condemns the U.S. decision to impose a visa ban on five European individuals, including former EU commissioner Thierry Breton, a Commission spokesperson said on Wednesday, adding that the EU had requested clarifications from the U.S. authorities.
“If needed, we will respond swiftly and decisively to defend our regulatory autonomy against unjustified measures,” he also said.
Reporting by Charlotte Van Campenhout;Editing by Sudip Kar-Gupta
Tuesday’s solid U.S. GDP reading failed to move the dial on the rate outlook, leaving investors pricing in roughly two more Fed cuts in 2026
International News via Reuters:
The U.S. dollar was on the back foot on Wednesday and set for its biggest yearly fall since 2017, possibly with more to come, as investors wagered the Federal Reserve would have room to cut rates further next year even as most of its peers look finished with easing.
Tuesday’s solid U.S. GDP reading failed to move the dial on the rate outlook, leaving investors pricing in roughly two more Fed cuts in 2026.
“We expect the FOMC to compromise on two more 25 bp cuts to 3-3.25% but see the risks as tilted lower,” said Goldman Sachs Chief U.S. Economist David Mericle, citing slowing inflation as a reason for the forecast.
The euro and pound each nudged up to fresh three-month highs on Wednesday, though were last broadly steady on the day at $1.180 and $1.3522, respectively.
Against a basket of currencies, the dollar index fell to a 2-1/2-month low of 97.767. It was on track to lose 9.8% for the year, which would mark its steepest annual drop since 2017. Any further weakness in the last week of the year would take its fall to its greatest since 2003.
The dollar has had a tumultuous year, whipsawed by President Donald Trump’s chaotic tariffs that sparked a crisis of confidence in U.S. assets earlier this year, while his growing influence over the Fed has also raised concerns about its independence.
In contrast, the euro is up just over 14% for the year thus far, putting it on track for its best performance since 2003.
The European Central Bank stood pat on rates last week and revised upwards some of its growth and inflation projections, in a move that likely closes the door to further easing in the near term.
Traders have since responded by pricing in a slim chance of tighter policy next year, mirroring expectations for Australia and New Zealand, where the next moves are seen as being hikes.
That has in turn lifted the two Antipodean currencies, with the Australian dollar, up 8.4% to date, scaling a three-month peak of $0.6710 on Wednesday, and the New Zealand dollar similarly touched a 2-1/2-month high of $0.58475.
Sterling has gained more than 8% for the year. Investors are betting the Bank of England will deliver at least one rate cut in the first half of 2026, and place a roughly 50% chance on a second before the year-end.
However, most currencies have lost significant ground versus precious metals such as gold, which touched a fresh record high on Wednesday. [GOL/]
Currencies of smaller European countries, often with low debt, have been among the best performers this year.
The dollar has shed 12% on the Norwegian crown, 13% on the Swiss franc — to last trade at 0.7865 francs – and 17% on the Swedish crown, hitting its lowest since early 2022 on Wednesday at 9.167 crowns.
TRADERS ON YEN INTERVENTION ALERT
For now, the main focus for the foreign exchange market remains on the Japanese yen, with traders alert to the possibility of an intervention from Japanese authorities to stem the currency’s slide.
Finance Minister Satsuki Katayama said on Tuesday that Japan has a free hand in dealing with excessive yen moves, issuing the strongest warning to date on Tokyo’s readiness to intervene.
Her remarks arrested the yen’s decline, with the dollar last down 0.3% on the Japanese currency at 155.83 yen on Wednesday, having fallen 0.5% in the previous session.
While the Bank of Japan delivered a long-anticipated rate hike last Friday, the move had been well-telegraphed and comments from Governor Kazuo Ueda disappointed some in the market who had been betting on a more hawkish tone, leaving the yen sliding in the aftermath.
That has left investors vigilant to official yen-buying from Tokyo, particularly as trading volumes thin towards the year-end, which analysts say would make an opportune time for authorities to strike.
Reporting by Rae Wee in Singapore and Alun John in London; Editing by Jamie Freed and Gareth Jones
BP will retain a 35% stake in a new joint venture with Stonepeak, which it can sell after a two-year lock-in period
International News via Reuters:
BP has agreed to sell a 65% stake in its Castrol lubricants business to U.S. investment firm Stonepeak for about $6 billion, a significant step in the oil major’s $20 billion divestment plan aimed at cutting debt and boosting returns.
The deal, announced on Wednesday, values Castrol at $10.1 billion, and marks the British company’s most ambitious asset sale so far in its efforts to streamline operations and scale back its renewable energy investments after years of lagging rivals in share performance.
BP will retain a 35% stake in a new joint venture with Stonepeak, which it can sell after a two-year lock-in period.
Shares in BP gained more than 1% on Wednesday following the announcement but were down 0.1% by 0934 GMT.
While the deal values Castrol at about $10 billion, the enterprise value falls to roughly $8 billion after adjusting for minority interests and debt-like obligations, RBC analysts said in a note on Wednesday.
“We continue to question the rationale (beyond the headline multiple) of selling this highly cash generative, low volatility and low capital intensity asset, as ultimately this is detrimental to the long term dividend sustainability and earnings quality of the business,” RBC analysts said in the note.
“Accelerated dividends now will help reduce debt, but clearly at the expense of medium term cash flows.”
The sale, which includes $800 million for accelerated dividend payments, comes after BP put the century-old lubricants unit under review earlier this year as part of a broader strategy to focus on its core oil and gas business.
BP will use the sale proceeds to reduce debt, it said.
It has vowed to sell $20 billion worth of assets to help slash its net debt from $26 billion to between $14 billion and $18 billion by the end of 2027.
After the Castrol deal, BP’s completed and announced divestment proceeds total around $11 billion.
In a separate statement, Stonepeak said the Canada Pension Plan Investment Board will invest up to $1.05 billion as part of the deal and gain an indirect stake in Castrol.
Reuters reported in November that BP was in talks with Stonepeak about selling Castrol. The Wall Street Journal and the Financial Times first reported details of the deal late on Tuesday.
Castrol’s sale process began earlier this year. In September, Stonepeak and private equity firm One Rock submitted bids for the unit, Reuters previously reported, citing sources.
BP last week appointed Woodside Energy’s Meg O’Neill as its next CEO, taking over from Murray Auchincloss.
In October, new BP Chair Albert Manifold told employees that the group’s portfolio was “overly complex” and it needed to shift focus back to oil and gas faster.
In August, BP had said it would launch a review of how best to develop and monetise its oil and gas production assets and consider more cost cuts to boost shareholder returns.
Reporting by Rishabh Jaiswal, Yamini Kalia and Shashwat Awasthi in Bengaluru, and Stephanie Kelly in Chicago; editing by Rashmi Aich, Tomasz Janowski, Jason Neely
The New South Wales state parliament passed the Terrorism and Other Legislation Amendment Bill early morning after the upper house approved the bill by 18 votes to eight during an emergency sitting
International News via Reuters:
Australia’s most populous state on Wednesday passed sweeping new gun and anti-terror rules following the mass shooting on Bondi Beach, tightening firearm ownership, banning public display of terror symbols and strengthening police power to curb protests.
The New South Wales state parliament passed the Terrorism and Other Legislation Amendment Bill early morning after the upper house approved the bill by 18 votes to eight during an emergency sitting.
Premier Chris Minns said not all residents of New South Wales would support the tough reforms but his government was doing everything possible to keep people safe, in the wake of the December 14 shooting at a Jewish Hannukah celebration, where 15 people were killed and dozens wounded.
“Sydney and New South Wales has changed forever as a result of that terrorist activity,” Minns told reporters.
The bill passed the lower house on Tuesday with support from the governing centre-left Labor and the opposition Liberal party. The rural-focused National Party, the Liberal’s junior coalition partner, opposed the gun reforms arguing the ownership caps would unfairly disadvantage farmers.
The Bondi Beach gun attack, Australia’s deadliest in almost three decades, prompted calls for stricter gun laws and tougher action against antisemitism.
Under the new gun laws, which Minns described as the toughest in Australia, individual licences will be capped at four, while farmers will be permitted to own up to 10 guns.
Gun club membership will be mandatory for all firearms licence holders.
Police will be granted more powers to impose restrictions on protests for up to three months after a declared terror attack.
Public display of flags and symbols of prohibited militant organisations such as Islamic State, Hamas or Hezbollah has been outlawed and offenders will be jailed for up to two years or fined A$22,000 ($14,742).
Minns said concerns had been raised over chants like “globalise the intifada”, usually heard during pro-Palestine protests, adding that hateful statements used to vilify and intimidate people must be banned.
Police believe the two alleged gunmen were inspired by the militant Sunni Muslim group Islamic State. Sajid Akram, 50, was shot dead by police, while his 24-year-old son Naveed has been charged with 59 offences, including murder and terrorism.
LEGAL CHALLENGE
Activist groups have condemned the law and signalled plans for a constitutional challenge.
In a statement, the Palestine Action Group, Jews Against the Occupation and the First Nations-led Blak Caucus said it would file a legal challenge against what they described as “draconian anti-protest laws” rushed through the state parliament.
“It is clear that the (state) government is exploiting the horrific Bondi attack to advance a political agenda that suppresses political dissent and criticism of Israel, and curtails democratic freedoms,” the groups said.
Prime Minister Anthony Albanese has also vowed a crackdown on hate speech, with his centre-left federal government planning to introduce legislation to make it easier to prosecute those promoting hatred and violence, and to cancel or deny visas to people involved in hate speech. Albanese has proposed a gun buyback plan as well.
Facing criticism that his government has not done enough to curb antisemitism, Albanese said he spoke with Israeli President Isaac Herzog on Tuesday and invited him to make an official visit to Australia as soon as possible.
($1 = 1.4923 Australian dollars)
Reporting by Renju Jose in Sydney; Editing by David Gregorio and Sonali Paul
It has been nearly a year since my arrival and swearing in as Governor.
As Christmas lights sparkle across Bermuda, I am delighted to continue the tradition of recording a Christmas message and to share a few reflections on my first year as Governor.
From the very first “Welcome to Bermuda, Governor,” this year has been full of memorable firsts, my first Cup Match – and, of course, the accompanying concoctions I was offered as I toured the Camps.
My first roof-wetting, Peppercorn Ceremony, Bermuda Day celebration, and the National Trust Christmas Walkabout.
Each event has shown me the spirit and vibrancy of this island, and I am deeply grateful for the warmth of welcome I’ve received.
This year has brought significant milestones and proud moments. As a former member of the UK Armed Forces, I was honoured to join the celebrations marking the 60th anniversary of the Royal Bermuda Regiment.
Amidst blustery weather under the lee of Commissioner’s House, the Regiment’s Trooping the Colour parade was a spectacular success. All in front of their Colonel-in-Chief, Her Royal Highness The Duchess of Gloucester during her packed five-day visit to the Island.
The Regiment and Bermuda truly shone that day.
In front of packed rows of seats, and loud cheers, it was obvious to me how well regarded and respected the Regiment is. With a coastguard busier than ever, next year we will begin a national security and defence review to ensure the Regiment, and other organisations, are configured and equipped to meet Bermuda’s needs in the years to come.
While overall crime rates are falling, security remains a priority, especially as we work to address gang-related violence.
The series of Town Hall meetings, alongside the Minister of National Security and Commissioner of Police, enabled me to hear first-hand from communities.
I’m grateful to everyone who attended and contributed their views.
Together with the three Governor’s Council meetings, introduction of new laws, weapon amnesties and investments in technical resources and more police officers, everything necessary will be done to keep our streets safe.
But – despite the work of the BPS – we know we cannot police our way out of this.
We must continue to strive to help prevent young Bermudians getting drawn into gang culture.
With community support and collective will, we can make the necessary changes, and I look forward to continuing being part of that effort.
Foreign Office Minister Doughty’s visit reaffirmed the UK’s strong partnership with Bermuda, pledging specialist support for the Bermuda Police Service and signing a Letter of Intent to establish the Atlantic Child Advocacy Alliance.
The Minister also met with Bermuda’s world-leading (re)insurance industry, recognising its vital role in tackling global climate risks.
We were fortunate to escape the worst of Hurricane Melissa this year, unlike Jamaica, whose people faced unimaginable hardship.
Bermuda’s rapid and generous response to sending aid was humbling.
Plans are being made for a Regiment deployment to Jamaica in early 2026 to assist recovery efforts alongside the Jamaican Defence Force—a true testament to regional solidarity.
This year has also been a celebration of community, culture, and achievement. Bermudian athletes shone at the Island Games in Orkney, and our pride soared as the Gombey Warriors fought valiantly in World Cup qualifiers.
From dazzling ballet at City Hall by world-class Bermudian dancers to inspiring art exhibitions, Bermuda’s creativity sparkled brighter than the Christmas lights on Front Street or St George’s. Of course, I have to remain neutral on who has put on the best light show!
The extraordinary story of local artist Michael Frith, and his work on shows such as the Muppets and Fraggle Rock, is brilliantly showcased in the National Gallery. It is well worth a visit.
As we approach the New Year and look to the future, Michael’s passion, creativity and imagination is an example to us all that we should not let convention limit our ambition and dreams.
I’ve particularly enjoyed meeting local youth organisations — from Sea Cadets and Scouts to the Duke of Edinburgh Award scheme and Junior Leaders.
These and other groups offer meaningful alternatives to gang culture. They help shape our future leaders, neighbours and community.
I’ve also seen the incredible work of charities supporting the most vulnerable, reminding us of the importance of compassion and empathy during this season of giving.
To all the volunteers who give their time so generously to run these organisations and charities, thank you.
As we celebrate, let’s not forget our responsibility to protect Bermuda’s unique environment.
Standing next to Castle Harbour reminds me that as we celebrate we should not forget our responsibility to protect the environment.
From coral reef research at BIOS to the unique conservation measures on Nonsuch and Trunk Islands, Bermuda is leading the way in safeguarding biodiversity.
Supporting initiatives that protect and preserve our precious green spaces is one of the greatest gifts that we can give to future generations.
And it’s never too late to start.
As the saying goes: “The best time to plant a tree was 20 years ago. The second best is today.”
So, whether you’re enjoying a cassava pie, a Christmas walkabout, or simply a quiet moment with loved ones, I wish you a Merry Christmas and a joyful festive season filled with peace, hope, and just enough sunshine to remind us why Bermuda is so special.
This season invites us to pause, reflect, and appreciate the people who bring meaning and purpose to our lives.
Christmas reminds us that the greatest gifts we share are not wrapped, purchased, or placed under a tree. They are found in our homes, our families, our faith, and in the strength of a community that has always carried one another through good times and difficult ones.
Across the island, Bermudians are coming together at church services where familiar hymns fill the air, in kitchens scented with cassava pie and turkey, and in living rooms where laughter and music echo into the night. These traditions connect us to our past and remind us of who we are as a people.
But even in this joyful season, we know that not everyone is celebrating with ease. Some families are feeling the absence of a loved one gone too soon. Others are facing financial challenges that make this time of year more difficult. To every person who is grieving, and to every family carrying heavy burdens, you are not forgotten. We pray that the peace promised in this season brings comfort and strength.
For Christians, Christmas marks the birth of Jesus Christ, a moment that signalled hope for a weary world. The Gospel of Matthew reminds us, “They will call him Immanuel, which means ‘God with us.’”
This message of hope and renewal has carried through generations, and we see its reflection in how Bermudians care for one another during this season.
When I look around Bermuda, I see that spirit everywhere. In the neighbour who checks in on an elderly resident. In the volunteers preparing meals and delivering baskets. In the generosity of churches, charities, and community groups that lift up those in need. In the quiet, everyday kindness that never makes headlines but defines who we are.
This spirit is the true meaning of Christmas, and it is the true spirit of Bermuda.
There is much this year that reminds us of our collective strength. We have seen Bermudians achieve remarkable things, whether on the world stage in sports and the arts, or here at home through service, mentorship, and dedication to community.
Our young people continue to inspire us with their talents. Our educators and healthcare workers continue to give selflessly. Our cultural bearers, from musicians to Gombeys, continue to carry forward our culture with pride.
As we approach the end of this year and look toward 2026, I am filled with hope. Hope that comes from witnessing the resilience of our families. Hope that comes from seeing communities support one another. And hope that grows from the values that have carried our island through every generation.
My prayer for our island is that we carry the spirit of Christmas, its compassion and unity, beyond this season and into the year ahead. Let us continue to look out for one another, to uplift those who need support, and to build a future grounded in fairness, dignity, and shared opportunity.
This holiday season, I pray that your homes are filled with peace, that your families are surrounded by love, and that the new year brings comfort and opportunity.
From our family to yours, We wish you a Merry Christmas and a Happy New Year.
Christmas message from Robert King, Leader of the Opposition
Merry Christmas and Happy Holidays.
This is one of my favourite times of the year, as it is for many.
Some of my most potent memories are rooted in Christmases past. As a six year old boy, I remember creeping into the kitchen when my mother made her famous pudding, so I could sneak an extra piece. And so much laughter over the years, when we gather with friends to play charades and other games.
Christmas is marked by these traditions that create deep bonds.
For many of us, it is a time when:
Decorations emerge from hiding places to brighten our spaces each winter – some passed down through the family and evoke instant memories.
Music fills our rooms with beauty, meaning and emotion.
Generations of cooks gather together in the kitchen to share and prepare sacred family recipes.
People coming together, celebrating and connecting.
Our community celebrations like the St. George’s walkabout, the Christmas parade, the tree lighting in Hamilton and the Gombeys on Boxing Day encourage us to come together, and give us the opportunity for connection beyond our family and friends.
A chance to share simple pleasures and moments that will live in our memories and provide us with joy and hope.
Spiritual leader Ruth Carter Stapleton once said, “Christmas is most truly Christmas when we celebrate it by giving the light of love to those who need it most.”
This has been so since the very first Christmas.
I want to pay special tribute to the scores of Bermudians who have created groups and organizations, charities and foundations, dedicated solely to helping others have a better life – to sharing the light of love.
That support comes not only in financial or practical ways but so often through the gift of time and attention. People bring their skills, their knowledge, their expertise, their energy and precious time to helping each other.
I thank you sincerely for the compassion you have shown throughout the year, and for strengthening our community through your faithful service.
It is a challenging world in which to be growing up and living. We all know costs are rising and opportunities can be scarce.
But together, I know we can work together to create opportunities for our young people. To support their education, their wellbeing, their safety, and ensure there are pathways into meaningful and rewarding lives.
We can work together to ensure that there are homes for all Bermudians, and communities can thrive.
For our seniors, who built our communities, I want to say thank you. And I want to say that I am focused on supporting you to have quality of life as you retire and age. We owe you that and we will work hard to ensure you have appropriate supports and the care you so deserve.
I encourage everyone to spend some time connecting not just with family and friends this season but with those you may not know well, or at all.
If you know someone who may be struggling, and you cannot assist personally, please share the names of the organisations offering meals and support.
Sometimes the smallest gesture can make the biggest difference. A simple check-in, may be exactly what someone needs at this time of year.
Christmas is not just another date on the calendar. It is a spirit that we can carry through the whole year. Not just in the celebrations, but in our actions.
That is bringing the light of love to others. And we can do it all the year through.
I want to offer a heartfelt thank you to the members of the Bermuda Police Service, the Bermuda Fire & Rescue Service, BELCO and the dedicated staff at the Bermuda Hospitals Board.
Your tireless work, often away from your own families to keep Bermuda safe and healthy – 24/7, 365 days of the year.
Your service is deeply appreciated. It makes our community strong. And we are deeply grateful.
On behalf of my One Bermuda Alliance colleagues, and my wife, Miriam, I offer my sincere good wishes for a joyful, peaceful, Christmas, and a blessed and hope-filled New Year.
May 2026 be a year of renewed opportunity, strengthened community, and brighter days for us all.
May the peace and joy that is the spirit of the season be with you and yours – all the year through.
2025 is now the second highest year on record for firearms deaths; BPS’ Jason Smith says criminals may be more bold, but also suggests public is more engaged with police
At a Town Hall meeting in September, addressing gun and gang violence, Police Commissioner Darrin Simons said “the people who are doing these things are getting better…”
It’s a grim thought that the statistics appear to support.
There have been six shooting murders in 2025 – the second highest year on record for firearms deaths…
There were 7 firearms deaths recorded in 2010, out of a total of 35 firearms injuries and fatalities.
In 2025, there have been 14 firearms incidents – almost half of them resulting in a fatality. Commissioner Simons previously said, “when they are actually shooting, they are more likely hitting their target, causing injury, or causing death.”
Speaking on the most recent murder of Jahmel Mallory, Detective Chief Inspector Jason Smith believes criminals are emboldened by the belief that anyone who sees or knows something, won’t actually say something.
“I wouldn’t say that the people are getting necessarily better”, said DCI Smith, “but they’re maybe becoming more bolder.”
“One of the reasons they may be becoming more bold is because they do not fear that people are going to actually report on them.”
“This is one of the reasons we continue to encourage the community to come forward and to assist us, because where we have people before the courts, it’s because of public support.”
There have been a number of firearms incidents since the shooting murders around Court Street in the summer:
October 25 – Firearm discharged at a residence in the Hillview Lane area in Warwick, no reported injuries November 27 – Two men injured in firearms incident at a residence on Club Road, Devil’s Hole December 2nd – Firearm discharged into a residence on Angle Street in Pembroke, no reported injuries
Bermuda Broadcasting asked if there were two groups involved in these incidents, and if they are related.
DCI Smith said, “when we approach these investigations, we have to keep an open mind. So, we do know from our lines of inquiry, from our intelligence reports, that there are certain groups within the community that are feuding.”
“These 14 firearm incidents that we’ve had so far this year, it is alarming, but it is also encouraging that we also get the public support to assist us in identifying the groups, those who are involved, and then secondly, recovering firearms.”
“So we’re getting firearms off the streets… and then we’re looking to bring to justice those who are responsible for committing these offenses.”
Asked if the community is more cooperative now than they have been in the past, DCI Smith said “yes, we are getting more encouragement from the community.”
“I think that’s because of the positiveness that we’re seeing… amongst the organization. Just in terms of stepping up patrols, engaging the community more… being more visible. That’s what we believe is a key part.”
“And I also believe that there are members of our community that want to see change, that want to put an end and a stop to these ruthless, senseless killings that are taking away young men from their families, from our societies and causing disruption in our communities.”
Brent crude futures rose 22 cents, or 0.35%, to $62.29 a barrel by 1:13 p.m. ET (1813 GMT). U.S. West Texas Intermediate crude was up 25 cents, or 0.43%, at $58.26
International News via Reuters:
Oil prices edged up on Tuesday as investors assessed stronger-than-expected U.S. economic growth and the risk of disruptions to oil supply from Venezuela and Russia.
Brent crude futures rose 22 cents, or 0.35%, to $62.29 a barrel by 1:13 p.m. ET (1813 GMT). U.S. West Texas Intermediate crude was up 25 cents, or 0.43%, at $58.26.
Prices had risen by more than 2% on Monday, with Brent registering its biggest daily gain in two months and WTI climbing the most since November 14.
The U.S. economy grew faster than expected, driven by robust consumer spending, the Commerce Department’s Bureau of Economic Analysis said in its initial estimate of third-quarter GDP on Tuesday.
“The market is trying to decide whether we should be more excited about the demand coming from the strong growth or worried that the Fed is going to have to put on the brakes on that growth to get inflation under control,” said Phil Flynn, senior analyst with the Price Futures Group.
Other data painted a mixed picture of the economy. U.S. consumer confidence deteriorated in December amid deepening anxiety over jobs and income while factory production was unchanged in November after declining in October, data showed on Tuesday.
Investors were also considering the risk of disruptions to Venezuelan supply.
U.S. President Donald Trump said on Monday that the U.S. might keep or sell the oil it had seized off the coast of Venezuela in recent weeks as part of measures that include a “blockade” of oil tankers under sanctions entering and leaving the South American country.
Tanker loading in Venezuela dwindled on Monday, with most ships moving oil cargoes only between domestic ports following U.S. action against more ships.
“The market appears to be wrestling between the oversupplied bearish factors and the latest supply concerns from the U.S. blockade reducing Venezuelan loadings and exports, as well as Russia and Ukraine trading blows to vessels and ports late on Monday,” said Rystad analyst Janiv Shah.
Russian forces struck Ukraine’s Black Sea port of Odesa late on Monday and damaged port facilities and a ship, the second attack on the region in less than 24 hours, while Ukrainian drone attacks damaged two vessels, two piers and sparked a fire in a village in Russia’s Krasnodar region.
Ukraine has also targeted Russia’s maritime logistics, focusing on shadow-fleet oil tankers that attempt to bypass sanctions on Russia.
Oil markets are expected to remain well supplied in the first half of 2026, Barclays said in a note this week, but the bank added that the oil surplus will shrink to only 700,000 barrels per day in the fourth quarter of 2026 and that prolonged disruption could tighten the market further.
Reporting by Nicole Jao in New York, Seher Dareen in London, Anjana Anil in Bengaluru and Emily Chow in SingaporeEditing by David Goodman, Joe Bavier and Nia Williams
Europe’s plastics-recycling industry has lost more capacity in 2025 than in any previous year, with low-cost plastic imports and high energy costs driving plant closures in countries including the Netherlands
International News via Reuters:
The European Union will introduce stricter rules for imports of plastics, the European Commission said on Tuesday, as it attempts to help European recycling plants that are struggling to compete with cheaper imports.
Europe’s plastics-recycling industry has lost more capacity in 2025 than in any previous year, with low-cost plastic imports and high energy costs driving plant closures in countries including the Netherlands, according to industry group Plastics Recyclers Europe.
A particular concern is that cheap virgin plastic – new material made from raw fossil fuels, rather than recycled plastic made from used materials – is being mislabelled as recycled, putting local recyclers at a disadvantage as their recycled plastic cannot compete on price.
The European Commission, the EU executive body, said it would propose legal changes in the first half of 2026 to require stricter documentation for imports of recycled plastics. Another proposal will create separate customs codes for recycled and virgin plastics, to make it easier to track imports.
“The recycling sector is facing high energy costs, low and unpredictable prices for virgin plastic (linked to oil prices) and competition from imports of cheap plastics (often virgin plastics wrongly claimed to be recycled),” the Commission said in a document setting out the plans.
Other measures will include EU audits of recycling plants, including outside of Europe, and support for laboratories to run control checks on whether shipments of recycled plastic are genuine.
Brussels will also consider whether it is necessary to introduce trade measures. An EU import surveillance task force will monitor plastics imports during 2026, the Commission said.
The EU has already imposed anti-dumping duties on Chinese PET plastic – the type used to make bottles – to address imports which Brussels said were so cheap they forced EU companies to sell at a loss to compete.
Six European countries, including France, Spain and the Netherlands, asked the EU last month to take further action against imports of low-quality recycled plastics which they said were being sold at heavily discounted prices.
The EU also proposed rules specifying how chemically recycled products can count towards EU requirements for products to include recycled materials.
City of London Police said Thunberg had been bailed until March
International News via Reuters:
Swedish activist Greta Thunberg was released from custody after being arrested on Tuesday in London at a pro-Palestinian protest, police said.
UK-based campaign group Prisoners for Palestine said Thunberg was earlier arrested under the Terrorism Act for holding a sign that said “I support the Palestine Action prisoners. I oppose genocide”. The British government has proscribed Palestine Action as a terrorist group.
City of London Police said Thunberg had been bailed until March.
Police said earlier two other people had been arrested for throwing red paint at a building. A spokesperson said 22-year-old woman later attended the scene and was arrested for displaying a placard in support of a proscribed organisation.
Prisoners for Palestine, which supports some detained activists who have gone on hunger strike, said the building had been targeted because it was used by an insurance firm which they said provided services to the British arm of Israeli defence firm Elbit Systems.
The insurance company did not immediately respond to a request for comment.
Thunberg, 22, became prominent after staging weekly climate protests in front of the Swedish parliament in 2018.
Last year, she was cleared of a public order offence in Britain as a judge ruled police had no power to arrest her and others at a protest in London the year before.
She was detained along with 478 people and expelled by Israel in October after joining an activist convoy of vessels, the Global Sumud Flotilla, that attempted to reach Gaza with aid supplies. Israel has consistently denied genocide allegations.
Reporting by Muvija M and Sam Tabahriti; Editing by Kate Holton and Alison Williams
Congo, the world’s top cobalt supplier contributing around 70% of global output, has wrestled for decades with illegal, artisanal mining that diverts revenue away from the nation’s coffers
International News via Reuters:
Democratic Republic of Congo has suspended artisanal copper and cobalt mineral processing, according to a decree seen by Reuters, in an effort to improve transparency and prevent illegal exports, a pervasive problem in the mineral-rich nation.
Congo, the world’s top cobalt supplier contributing around 70% of global output, has wrestled for decades with illegal, artisanal mining that diverts revenue away from the nation’s coffers.
The decree, dated December 19 and signed by mines minister Louis Watum Kabamba, orders all entities that process and market artisanal copper and cobalt to suspend operations and certify the origin of minerals used.
A commission would be set up to carry out compliance and to verify the traceability and legality of supplies, the document said.
Reuters could not determine the likely impact on illegal exports and Congo’s government had no figures.
“This suspension will be an opportunity to identify the flow and volume of minerals processed by the processing units,” a source at the president’s office said.
LICOCO, a Congolese nongovernmental group that aims to fight corruption in the sector said many entities operating illegally paid bribes to obtain their permits to circumvent the requirements laid out in the mining code.
Congo launched its first batch of traceable artisanal cobalt in November to clean up the supply chain and align production with international environmental, social and governance standards.
Artisanal mining is a lifeline for many in Congo, employing an estimated 1.5 million to 2 million people and supporting more than 10 million people indirectly.
But unregulated output is difficult to track, risks being confiscated by the government and pushes up the price of ethically produced, traceable cobalt.
Reporting by Yassin Kombi; Writing by Anait Miridzhanian; Editing by Jessica Donati, Alexandra Hudson
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