Business

In his State of the Union address, US President Donald Trump sought to reassure Americans that the economy is doing well ahead of key midterm elections. Also in this edition: the Pentagon tells Anthropic it has until Friday to loosen AI safeguards, or lose its $200 million contract. Plus the Louvre's president resigns after a series of crises and what auditors consider to be a mismanagement of funds.

German Chancellor Friedrich Merz is visiting China on a two-day trip starting on Wednesday. He's the latest in a string of Western leaders who have been seeking new partnerships with the Asian giant in recent weeks, amid Donald Trump's trade war against the rest of the world. It's a delicate balancing act for the German leader as the country's industry has been squeezed by competition from China. But first, we take stock of what four years of war have done to Ukraine's economy. 

Four years to the day after Russia's full-scale invasion of Ukraine, we take a look at the state of the country's economy. The World Bank estimates it will take $588 billion over the next 10 years to make up for damage and destruction incurred during the conflict. The housing, transport and energy sectors have seen the biggest losses. Also in this edition: Panama takes control of two key ports on the Panama Canal.

After the US Supreme Court struck down his "Liberation Day" tariffs as unlawful, US President Donald Trump has doubled down on his trade policy and warned countries around the world not to "play games" with the court ruling and stick to recently agreed trade deals. The EU, meanwhile, has decided to hold off on ratifying its agreement with the US while waiting for clarity.
 

Also in the segment: Panama's government has seized control of key ports on the Panama Canal from a Hong Kong company after its top court annulled the firm's operating concessions. 

After a weekend of trade upheaval in the wake of the US Supreme Court's decision to invalidate US president's tariffs that invoked the International Emergency Economic Powers Act, and Donald Trump's subsequent decision to apply 15 percent global tariffs based on another law, we look at the latest developments in global trade. Also in this edition, robotaxis are vowing to hit the streets of London by the end of 2026. 

What fate awaits Europe’s Future Combat Air System? The joint programme to modernise military aviation in France, Germany and Spain has hit turbulence, as tensions rise between the partners designing a next-generation fighter jet – and questions grow over whether Berlin might quit the defence scheme altogether. Also, Apple is being sued over its alleged role in distributing child sexual abuse material, and the Trump administration is threatening to withdraw from the International Energy Agency over its net-zero emissions goals.

As world leaders and tech executives congregate in New Delhi for the AI Impact Summit, we spoke to Metin Taskin, CEO of Airties, about the impact the technology is having on the telecom sector. He explained that AI allows for faster and more reliable coding, which was one of the industry's biggest bottlenecks. He also addressed other telecom sector trends, notably the high "customer churn" between operators as clients seek out better connectivity.

Christine Lagarde, the president of the European Central Bank, has decided to leave her position as the EU's top central banker before the end of her mandate in October 2027, according to a report in the Financial Times. The move could allow for her successor to be named ahead of presidential elections in France. Also in this edition, Venezuela's interim government issues its first statement on the disputed oil-rich territory of Essequibo. 

The European Commission has opened a formal investigation into Shein over suspicions that the online retail giant has violated the EU's Digital Services Act. The probe comes months after the online retail giant came under fire for allowing child-like sex dolls to be sold on its site. But first, France is inching closer to finalising a massive deal over the sale of 114 Rafale fighter jets to India, as French President Emmanuel Macron kicks off his three-day visit. 

India has kicked off the fourth edition of the annual artificial intelligence (AI) summit, the first such event in the Global South. The five-day event will draw world leaders including the French and Brazilian presidents, as well as tech bosses like Google's Sundar Pichai and OpenAI's Sam Altman, serving as an opportunity for New Delhi to showcase its burgeoning AI industry. Also in the segment, a Pokemon card owned by wrestler Logan Paul has fetched a whopping $16.5 million in an online auction.