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The UK government is increasingly concerned that the European Union's "Made in Europe" initiative could exclude British companies from supply chains in key sectors including automotive, technology and green energy. The UK is lobbying the EU against restricting market access for British firms, and is pushing for the EU to broaden its industrial policy concept to reflect cooperation with like-minded partners, Bloomberg reports. “The question for the UK is not just whether it will receive preferential treatment under new ‘Made in EU’ rules, but also how that treatment will stack up against other EU trade partners such as Japan, Turkey and Switzerland,” observes Sam Lowe, partner at London-headquartered business management consultancy Flint Global. “The worst of all worlds would be for UK companies to lose out against both EU competitors and competitors from elsewhere.”

 

Bloomberg

Maria Luís Albuquerque, the European Union's Financial Services Commissioner, has said Europe must retain control of key technologies that underpin the region's economies. At the same event, a financial technology regulatory conference in Brussels, Steven Maijoor, Chair of Supervision at De Nederlandsche Bank, said that Europe should be less reliant on technology firms based outside the region. “It is undeniable that the faultlines on our European financial system have become far more prone to cracking in recent years," Maijoor observed.

 

Reuters

The Financial Stability Board (FSB) has raised the alarm about the potential risks in the leveraged short-term repo market. The global financial watchdog warned that asset managers, particularly hedge funds, may need to liquidate holdings during market stress, causing significant downward pressure on bond prices. The FSB's report highlights the need for regulators to address data gaps in the $16trn repo market and develop metrics to monitor vulnerabilities. "Strains in repo and government bond markets may spill over into each other or across multiple jurisdictions, given the international nature of repo markets," the report said, adding: "Given the importance of repo markets within the global financial system, it is critical to preserve their functionality, particularly during periods of stress."

 

Financial Stability Board

Reuters

The Daily Telegraph

US Trade Representative Jamieson Greer has told CNBC that the Supreme Court is taking its time to rule on a case challenging the legality of President Donald Trump's tariffs because of the "enormous" stakes involved. "We've built a new trade order on the back of these tariffs," Greer said. "So the stakes are enormous, and I think the court . . .  is being very careful and considerate as to how they deal with this issue of extreme national interest."

 

Reuters

Senate Judiciary Committee Chairman Chuck Grassley has led a hearing focused on Swiss banks' historical ties to Nazi activities, particularly examining Credit Suisse's role in managing Nazi-linked accounts.  The new probe of Credit Suisse discovered 890 previously undisclosed accounts with potential Nazi links, including the German Foreign Office, the SS paramilitary organization and a German arms-manufacturing company, Grassley told reporters. He gave no details on how much money might have been held in the accounts and their current status. “Shining light on Credit Suisse’s past is part of turning the page, a very dark chapter of history,” Grassley said. Credit Suisse owner UBS has argued that a 1998 settlement covers any potential future revelations or obligations.

 

Bloomberg

France 24

Luxembourg Times

New York Times

Three companies in the Repsol group - Repsol Comercial De Productos Petroliferos, Solred and Campsa Estaciones De Servicio - have been fined a total of €20.5m ($24.2m) by Spain's competition watchdog for what it called an abusive margin-squeeze strategy that harmed independent and low-cost fuel stations. The CNMC found Repsol raised wholesale prices charged to rival stations between April and December 2022, while at the same time cutting effective retail prices at its own network for professional customers. Repsol said it rejected the fine and would appeal.

 

Reuters

Philipp Navratil, Nestlé’s new chief executive, is planning a strategic overhaul that will refocus the sprawling multinational around four product categories, as the company faces pressure to boost growth. The Financial Times reports that Nestlé will be organised around the new "pillars" of coffee, petcare, nutrition and health, and food and snacking. In other Nestlé news, the group has widened an infant formula recall to include a new batch of Guigoz formula after France lowered the maximum cereulide threshold. The toxin, which can cause nausea and vomiting, has been detected in ingredients from a factory in China supplying a large number of baby formula makers, including Nestlé, Danone, and Lactalis.

 

Financial Times

Reuters

UK merger and acquisition (M&A) deal values increased by 12% to £131bn in 2025, despite a 12% drop in deal volumes to 2,991, according to analysis by PwC. Lucy Stapleton, head of deals at PwC UK, said: "We would not usually expect deal values to rise so sharply when volumes are falling." The stabilisation of interest rates and inflation moving closer to target levels helped drive investor confidence. PwC expects "to see more deals crossing the finish line" this years as companies build their investment portfolios as opportunities open up across a range of sectors.

 

City AM

The Times

A leadership crisis has erupted at Castel Group following the ousting of chief executive Gregory Clerc and chair Pierre Baer by the Castel family, who control 70% of the holding company IBBM. However, IBBM has disputed the validity of the resolutions, leaving the directors' positions uncertain. Tensions escalated after Clerc's appointment in 2023, with family members alleging he made decisions without their input. Romy Castel, Pierre Castel's daughter, expressed her concerns over governance, saying: "I am the legitimate guarantor . . . when governance deviates from [my father's] values." The situation is further complicated by a significant tax probe.

 

Bloomberg

Financial Times

The UK government has delayed implementation of new worker protections against so-called fire and rehire practices, according to plans published on Wednesday. The measures were originally scheduled to be implemented in October 2026, but will now come into force in January 2027. Stephen Simpson, principal editor at Brightmine, said: “Although there is still time to prepare, businesses should use this period to plan and get ahead.”

 

Financial Times

Personnel Today

ArcelorMittal is reviewing its support functions, putting 1,150 jobs in Luxembourg at risk, according to union representatives. The assessment affects about a third of the company's workforce in the Grand Duchy. The review may involve relocating roles to India. Jean-Luc Ruffin, secretary of the European Works Council, confirmed the figure, while Robert Fornieri from the LCGB labour union noted that the analysis does not necessarily mean all positions will be cut. Ongoing negotiations aim to secure the future of the steel industry in Luxembourg through investment and support.

 

Luxembourg Times

Anthropic has unveiled a legal plugin that helps customise its large language model Claude for legal tasks such as document review. The AI company said the plugin did not provide legal advice. “AI-generated analysis should be reviewed by licensed attorneys before being relied upon for legal decisions,” Anthropic said.

 

Legal IT Insider

Artificial Lawyer

The Guardian