Lisa O’Carroll

European defence company shares and gas prices fall after US and Ukraine discuss Russia peace plan – business live Rolling coverage of the latest economic and financial news, as BHP is (again) rebuffed by mining rival Anglo American

BLOG POST: Sefcovic has already met Lutnick and Greer . Says he had "constructive" talks in Brussels but talks more "stocktaking" exercise after 2 month pause caused by government shut down. Steel and steel derivatives and fight against China the priority.

www.theguardian.com/business/liv...

New: Sefcovic on talks with Lutnick and Greer today. We will "discuss our relations with China" and a shared goal of "securing reliable supplies"

"We also recognise that more work lies ahead especially on steel and derivatives, where we seek both to reduce tariffs and to confront global capacity".

NEW: EU's trade commissioner Maros Sefcovic has said he has had "constructive" talks with US trade representative Jamieson Greer yesterday and US commerce secretary Howard Lutnick this morning.

"more work lies ahead" to reduce tariffs "especially on steel and steel derivatives" he told reporters

EU and US to restart trade talks as sticking points on July tariff deal remain US officials to hold high-level talks in Brussels amid unhappiness in Washington at slow action on July deal

While EU works up alternative to Moscow peace plan for Europe, Lutnick flies into brussels on his own jet to restart trade talks.. meeting trade ministers for lunch tomorrow. Then 3 commissioners. US not happy with slow pace of european parliament.

www.theguardian.com/business/202...

‘Her amazing smile was undimmed, and I would try anything to summon it’ | The Observer

Moving, warm, rich, desperately sad but also, in a way that only death achieves, an uplifting insight into Rachel Cooke’s life as a writer, by her husband Anthony, in today’s Observer. Like a loving blanket thrown over her to warm all our hearts. RIP and respect

observer.co.uk/style/featur...

EU may as well be ‘province of China’ due to reliance on imports, says industrialist Stefan Scherer, boss of AMG Lithium, says Europe must become more self-sufficient in critical raw materials and new technologies

Starmer has announced new critical minerals and rare earths strategy. Mentions lithium and copper. £50m fund. But Lithium has to b refined 4 car batteries.
I have twice interviewed boss of EU's only lithium hydroxide factory. So far cost £150m - 3 times UK fund
www.theguardian.com/business/202...

EU and US to restart trade talks as sticking points on July tariff deal remain US officials to hold high-level talks in Brussels amid unhappiness in Washington at slow action on July deal

Howard Lutnick to fly to Brussels to restart trade talks. Steel, steel derivatives, food and drink... Lunch with 27 foreign ministers, meets with three commissioners and bilaterals. www.theguardian.com/business/202...

Daily Mail owner strikes £500mn deal for Telegraph Tie-up would create one of the most powerful right-leaning media groups in Britain

Daily Mail's parent company agrees a deal to buy Telegraph for £500m! Media consolidation, let's go, ya gonna blink and stop this competition regulators? Over to you, Nandy? Strong potential everyone just waves the sale through to STOP HAVING TO READ OR THINK ABOUT IT. www.ft.com/content/cd8e...

Reform UK’s former Wales leader jailed for taking bribes for pro-Russia speeches Police say Nathan Gill received at least £40,000 while he was an MEP from Oleg Voloshyn, an alleged Russian asset

Reform UK’s former leader in Wales, Nathan Gill, has been jailed at the Old Bailey for 10 and a half years for taking bribes to make statements in favour of Russia when he was an MEP

www.theguardian.com/politics/202...

Reform UK’s former Wales leader jailed for taking bribes for pro-Russia speeches Police say Nathan Gill received at least £40,000 while he was an MEP from Oleg Voloshyn, an alleged Russian asset

www.theguardian.com/politics/202...

EU confirms it wants UK to pay into its budget in exchange for closer ties ‘Politically realistic’ for UK to make financial contribution so it can access European single market, Irish minister says

ICYMI - Eu wants UK to pay in for greater ties/reset relationship. Already talking about a 6bn ask for SAFE defence participation + MEP Barry Andrews denounces “glacial pace” of reset talks www.theguardian.com/world/2025/n...

Helen McEntee to go to foreign affairs.
Simon Harris takes over from Paschal Donohoe.

HMRC accused of being ‘cavalier’ with finances of child benefit claimants Thousands of parents had their payments stopped after faulty data suggested they had left the UK and not returned

HMRC "cavalier" with people's finances over child benefit crackdown with more than 3,500 so far innocent parents accused of emigrating based on incomplete Home Office travel data. HMRC tells select committee it removed PAYE cross checks to "streamline" process.

www.theguardian.com/money/2025/n...

Poland says ‘everything indicates’ Russia was behind rail sabotage incidents – Europe live Security spokesperson says the incident at the weekend was a terrorist attack ‘initiated by special services from the East’

Paschal Donohoe, Ireland's long standing finance minister and head of Eurogroup of EU states using the Euro, steps down to take over MS of World Bank

www.theguardian.com/world/live/2...

Ireland to act if tougher asylum rules create Belfast back door for migration Jim O’Callaghan says he will closely monitor changes proposed by Britain amid concerns over impact

Ireland fears UK will drive migration through Belfast back door (remember in Brexit the Brexiteers concerned invisible border would mean non-EU nationals getting to UK over border into NI and over to GB. Turns out the other direction is the issue)

www.theguardian.com/world/2025/n...

Tougher asylum rules could affect relations with UK, says Irish justice minister Jim O’Callaghan says he will closely monitor changes proposed by Britain amid concerns over impact

Ireland raises concerns that UK plans will increase flow of people using irregular routes to GB to then move to Ireland via Belfast back door.

CTA under pressure

“I am committed to ensuring that Ireland is not viewed more favourably than the UK,” justice min

www.theguardian.com/world/2025/n...

‘I was scared’: parents reveal stress of HMRC’s child benefit errors From incorrect repayment demands to mistaken claims about emigration or non-existent holidays, those caught in anti-fraud debacle tell their stories

More parents tell how child benefit stopped by UK due to suspected emigration
- woman asked to pay back 2.6k shortly after giving birth in oxfordshire
- mum never flew- was in hospital including ICU
- Ukrainian woman told she emigrated, before she even had baby

www.theguardian.com/society/2025...

Call for inquiry after families stripped of child benefit due to flawed travel data Andrew Snowden MP says government ‘must immediate take action’ on failures of anti-fraud benefits crackdown

HMRC facing calls for inquiry into child benefit fiasco - Guardian been running stories for weeks as thousands of parents found their letter from govt stopping their child benefit began to realise they were not alone. We know to end of Oct 2,000 parents impacted.

www.theguardian.com/society/2025...

I think this was Karremans point in interview - Europe has to look after its economic security and dependence with any one country is dangerous. China, without democracy, can turn on and off low-material value, but high political value goods at will

Netherlands v China, who wins? China reaction straight out of China v Trump playbook, but Dutch minister's point is that Europe has a choice - be dependent on China or not. Brussels also complains privately that it can take defence measures but industry and member states are not diversifying supply

Exclusive: 'Everything can be weaponised,' says EU trade chief EU Trade Commissioner Maroš Šefčovič told Euronews in an exclusive interview that the Nexperia incident is "beginning to be resolved", but points to lessons about critical dependencies: "Everything ca...

"Everything can be weaponised" - that is the "lesson" from the Nexperia row with China, says Maros Sefcovic warns in interview with
@ShonaMurray_
Says it is time for Europe to act more like the Japanese who are stock piling their critical raw materials.
www.euronews.com/my-europe/20...

China voices ‘extreme disappointment’ with Dutch minister at centre of car chip row Vincent Karremans called semiconductor supply chain crisis a ‘wake-up call for western leaders’

ICYMI and you are following the Nexperia "economic thriller"
www.theguardian.com/business/202...

Chinese govt react with fury over Dutch minister intervention saying he would 'do it all again'

Beijing asked about the Guardian late on Friday - here's response

www.theguardian.com/business/202...

China voices ‘extreme disappointment’ with Dutch minister at centre of car chip row Vincent Karremans called semiconductor supply chain crisis a ‘wake-up call for western leaders’

NEW: China voices "extreme disappointment" with Dutch minister after interview in the Guardian, saying the Netherlands, not China was the cause of chip row www.theguardian.com/business/202...

EU investigates Google over ‘demoting’ commercial content from news media Officials say effective invisibilty in search results could be leading to unfair ‘loss of revenue’

Eu has launched investigation into alleged demotion of newspapers sponsored or partner content to point where it is not visible in search

www.theguardian.com/technology/2...

This interview shows that the EU relationship with China is as tense as ever, with Dutch minister hinting they will not be reversing out of Nexperia any time soon... they will wait until first chips arrive in europe, and I got the impression, until they are sure the supply is steady and long term

‘I’d do it all again,’ says Dutch minister at heart of car chip standoff with China Exclusive: Vincent Karremans says six-week row with Beijing that threatened global car production is ‘wake-up call’

Exclusive: My interview with Dutch economy minister Vincent Karremans on what exactly went on at Nexperia.
"It is a wake up call" for Europe
I would do it all again.
www.theguardian.com/business/202...

Ken Clarke, former chancellor and Tory veteran tells @itvpeston.bsky.social that rejoining EU would be impossible at me. But. “rejoining customs union and single market would be a huge hue advantage “

China "weaponising" EU relationship and winning.

Spoke to quite a few China experts and Imperial College rare earths and auto experts.

dashboard.ophan.co.uk/info?from=20...

Nexperia row shows how China is weaponising trade – and winning Experts say Brussels must stand up against Beijing using supplies of vital chips and minerals as ‘sword of Damocles’

Analysis: China is now pushing EU into series of 'rolling crisis', weaponising its traderelationship and winning. Nexperia, just one example, say China watchers. Some ask if it is time for the EU to change tack and use anti-coercion instrument?
www.theguardian.com/business/202...

Davis Dimbleby on channel 4 this is the “most violent attacks on the BBC in my lifetime”. Panorama editor shd have been sacked over that edit. And he had no idea how this came to result in the DG and Turness who apparently was told by the board initially she cannot go