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EU industry chief Stephane Sejourne has said in an article which was published in newspapers across Europe on Sunday, and which was co-signed by more than 1,100 CEOs and other business leaders, that Europe needs to protect its own industries with a "Made in Europe" strategy. "Without an ambitious, effective and pragmatic industrial policy, the European economy is doomed to be just a playground for its competitors . . . We must establish, once and for all, a genuine European preference in our most strategic sectors," Sejourne said. Reuters notes that EU countries are divided over European Commission plans to propose a so-called Industrial Accelerator Act this month that will likely set requirements to prioritise locally manufactured products.

 

Reuters

A report by the European Court of Auditors (ECA) says the European Union must boost its efforts to secure supplies of critical raw materials by 2030 if it wants to break its dependence on foreign countries and meet climate goals. "We are now dangerously dependent on a handful of countries outside the EU for the supply of these materials," said the ECA's Keit Pentus-Rosimannus. "It is therefore vital for the EU to up its game and reduce its vulnerability in this area," Pentus-Rosimannus said.

 

France 24

Financial Times

Reuters

The Guardian

Reuters reports that top consulting firms including KPMG, EY and Bain & Co are doing business in China in ways that some industry and legal experts say test the boundaries of Western sanctions. Interviews by Reuters with 10 current and former industry figures and a review of engagement agreements and company communications are said to demonstrate how the consultancies have sought to manoeuvre around evolving constraints.

 

Reuters

French prosecutors have asked Elon Musk to appear for questioning as part of an investigation into the distribution of sexual deepfakes and Holocaust denial content on his X social media platform. The Paris offices of X were searched following a public outcry over how the firm's Grok chatbot spread sexualised images of women and children. A voluntary summons was issued for Musk and former X CEO Linda Yaccarino to appear and answer questions about the platform's adherence to French law. "The voluntary interviews with the managers should enable them to explain their position on the facts and, where applicable, the compliance measures envisaged," the prosecutor's office said.

 

Axios

Financial Times

NBC News

The UK Information Commissioner's Office (ICO) has launched an investigation into the Grok AI system, owned by Elon Musk's Internet Unlimited Company and X.AI, amid concerns over its generation of explicit sexualised content, including images of children. William Malcolm, the ICO's executive director of regulatory risk and innovation, said reports about Grok "raise deeply troubling questions about how people's personal data has been used." The ICO can impose fines of up to £17.5m or 4% of an organisation's annual worldwide turnover. UK media regulator Ofcom last month opened a formal investigation into X - the social media platform into which Grok is integrated - to determine whether the firm is complying with its duties to protect people from illegal content under the UK's Online Safety Act.

 

Sky News

The Guardian

Spain has announced plans to ban access to social media for children under the age of 16. "We will protect [children] from the digital Wild West," Prime Minister Pedro Sánchez said at the World Governments Summit in Dubai. The ban, which still needs parliamentary approval, is part of a number of changes that include making company executives responsible for "illegal or harmful content" on their platforms. "Today, our children are exposed to a space they were never meant to navigate alone," Sánchez said, as he described social media as a place of "addiction, abuse, pornography, manipulation [and] violence."

 

Financial Times

New York Times

BBC News

The UK is to increase testing for so-called "forever chemicals" (PFAS) as part of a national plan to tackle the substances. The plan has three key aims: increasing knowledge of where the most harmful PFAS are turning up; how their use in everyday products can be reduced; and working with industry to look for alternatives. "Forever chemicals are "one of the most pressing chemical challenges of our time," Environment Minister Emma Hardy said as she launched the plan. "It's crucial that we protect both public health and the environment for future generations . . . Through our PFAS Plan, we will act decisively to reduce their harmful effects while transitioning to safer alternatives."

 

BBC News

UK manufacturing is experiencing growth, with the purchasing managers' index (PMI) from S&P Global rising to 51.8 in January, marking a 17-month high. However, this recovery has not translated into job creation, as firms continued to cut staff for the fifteenth consecutive month. Experts warn that rising costs, including electricity prices and National Insurance hikes, are forcing manufacturers to reduce headcount despite increased production driven by export demand. Fhaheen Khan, senior economist at industry body Make UK, said: "Make no mistake this will be one of the most expensive years ever to run a business in the UK." 

 

Daily Mail

Germany’s retail industry expects revenues to grow by 2% in 2026, according to industry body HDE, reflecting subdued consumer sentiment in Europe’s largest economy. Adjusted for inflation, the association forecasts real growth of just 0.5%, with geopolitical uncertainty and political volatility weighing on confidence.

 

Reuters

Clean transport advocacy group ‌T&E forecasts that electric vehicles will make up 85% of new car sales in the EU from 2035, ​based on the bloc's plans to drop an effective ban on new ‌combustion-engine models, although the share could fall to as low as 50%.

 

Reuters

Orsted has finalised a deal to sell its European onshore wind operations to Copenhagen Infrastructure Partners for €1.4bn (approximately $1.7bn). The sale follows a decision made earlier this year as part of a larger divestment plan aimed at addressing challenges in the troubled US offshore wind market.

 

Bloomberg

Uber is facing a €1.7bn tax bill from French authorities for unpaid payroll taxes. The company allegedly misrepresented its contracts with around 71,000 drivers from 2019 to 2022, disguising employment relationships as business contracts. The French social security agency Urssaf claims Uber avoided €1.2bn in payroll taxes, and has added €512m in recovery surcharges. An Uber spokesperson said: "We are currently in discussions with Urssaf and are fostering a collaborative, open, and transparent approach." The company contests the lawsuit's basis and has not set aside provisions for potential costs.

 

France 24

In Italy, jewellers are adapting their designs to reduce gold content amid soaring prices, which have reached nearly $5,600 an ounce due to geopolitical tensions. Artisans face pressure from clients to create more affordable pieces while maintaining aesthetic appeal. Technologies are being employed that retain the shape of jewellery but decrease the amount of metal used. Italy represents 11.2% of the global jewellery market, with over 6,800 companies and around 34,000 employees.

 

Reuters