Business

French President Emmanuel Macron has picked defence chief Sébastien Lecornu as his new prime minister, a day after François Bayrou was voted out by parliament. The 39-year-old Lecornu's immediate priority will be to try to forge consensus on a new budget, before forming a government. If this year's budget were to be carried over into next year, France's fiscal deficit, already the highest in the EU, is predicted to widen further. 

The collapse of PM François Bayrou's government after losing a confidence vote in the French National Assembly on Monday is casting a long shadow over the country's public finances. The eurozone's second-largest economy's debt pile currently accounts for over 114 percent of its GDP and the lack of a consensus on how to restore public finances will increase that number further. Also in this edition: Norway's Labour Party wins a general election focused on a wealth tax debate.

Europe's largest car show kicks off in Munich, as industry leaders warn the continent's auto sector is facing existential threats. But first: French political turmoil threatens to further drag down the country's stock market as borrowing costs rise.

Giorgio Armani, who has passed away aged 91, directed an empire that generated €2.3 billion in 2024 and never sold any part of his company to an outsider. We take a closer look. Meanwhile, Donald Trump's Fed nominee Stephen Miran is grilled by the Senate Banking Committee as he tries to convince them he intends to preserve the Federal Reserve's independence. Plus, Melania Trump makes a rare public appearance to talk AI with some top industry leaders.

US internet search giant Google was ordered by a US federal jury on Wednesday to pay about $425 million for gathering information from smartphone app use even after people had opted for privacy settings. On the same day, France's government watchdog for data privacy slapped a €325 million fine on the company for failing to adequately secure user consent before setting advertising cookies. Also in this edition: the Trump administration asks the US Supreme Court to rule once and for all on the legality of tariffs.

The European Commission has given final approval to a massive trade deal with South America's Mercosur bloc, and presented the agreement to member states to sign. It brings the long-stalled deal a step closer to ratification, as the revised version has put in place various safeguards to protect European farmers and appease critics like France. We take a closer look.

US Federal Judge Amit Mehta ruled on Tuesday that Google did not have to sell off its signature Chrome internet browser or its Android operating system. This follows a previous ruling that the company had illegally maintained a monopoly on search engines. Investors breathed a sigh of relief, since search accounts for more than half of the tech giant's revenue. Also in this edition: French households are saving at record levels over concerns about political instability.

China has wrapped up a high-profile summit of the Shanghai Coorperation Organization, where President Xi Jinping sought to present a new world order with the Global South leading the way. It also signed a slew of business deals with partners including Russia. Among them is a new agreement on a long-delayed pipeline project that boosts capacity of Russian gas deliveries to China. Also in this bulletin: Nestlé has fired its CEO over a secret love affair. So are office romances a taboo subject? 

Swiss food giant Nestle removes its CEO Laurent Freixe after just a year on the job over a relationship with a direct subordinate. We take a closer look. Also in this edition: India's textile export industry comes apart at the seams as US President Donald Trump's tariffs take effect.

Italy has rejected claims by French Prime Minister François Bayrou that Rome is pursuing a policy of "fiscal dumping" to attract foreign business and investment.  The spat comes as Bayrou faces a likely collapse of his government over an unpopular budget plan, in which he aims to cut €44 billion in public spending. Also in this edition: Labubus, and their knock-off cousins Lafufus, are taking Europe by storm.