Business

A new IISS study shows Russian defence spending exceeds all of Europe's combined, adding weight to worries that after Ukraine, Russia would be capable of attacking other parts of the continent. Also, Indian Prime Minister Narendra Modi has wrapped up a two-day visit to France, with French President Emmanuel Macron working on developing ties with one of the world’s most important developing economies. Elsewhere, US inflation spiked more than expected in January. Finally, Duolingo announces the death of its green owl mascot.

Tesla CEO Elon Musk, who also heads US President Donald Trump's Department of Government Efficiency (DOGE), spoke to the media to defend his efforts to slash government spending and reduce the US federal workforce. This comes as Trump signed a new executive order giving DOGE further authority to pursue its mission. Also, Turkey's textile industry is voicing concern over Syrian workers leaving their jobs to return home after the fall of Bashar al-Assad.

With one of the longest and most complex supply chains, the fashion industry faces challenges in ensuring fair and ethical practices in the manufacturing process. As a major meeting on due diligence in the sector takes place at the OECD, Kalpona Akter, founder of the Bangladesh Centre for Worker Solidarity, speaks to FRANCE 24 about how working conditions have changed since the days she was working in a garment factory at age 12, what still needs to change, and what consumers need to do. 

On the last day of the AI Action Summit in Paris, and after the announcement of hundreds of millions of euros in artificial intelligence investment pledges in the European Union, FRANCE 24 speaks to Andrea Rocchetto, the CEO and founder of Ephos, an EU-based chip manufacturer. He reacts to the financial commitments made by the EU, calling for drastic deregulation of the sector, and discusses the AI industry's huge energy needs.

Tesla sales slumped in January in multiple markets around the world. In Germany, Europe's largest car market, sales declined by 60 percent compared to the same month in 2024. Among the contributing factors was Elon Musk's increasing involvement in politics and his recent behaviour. Also, metal prices rose after Donald Trump said he would impose additional 25 percent tariffs on steel and aluminium coming into the United States. 

US President Donald Trump says all imported steel and aluminum will be hit with a 25 percent tariff, with new reciprocal tariffs to be rolled out for all global trading partners that tax American imports. China's retaliatory tariffs on American goods come into effect, and Nigeria faces the fallout from a lithium boom.

The Artificial Intelligence Action Summit kicks off in Paris with scientific and technical forums as President Emmanuel Macron seeks to position France at the centre of the AI boom. Also in this edition: China calls US President Donald Trump's latest tariff justification "unfounded and false", and France finally gets a 2025 budget after months of political crisis.

After running on an extension of the 2024 budget for more than a month, France is finally set to have a formal 2025 budget after Prime Minister François Bayrou forced the text through parliament without a vote but survived a vote of no-confidence over the move. The plan aims to bring the budget deficit down to 5.4 percent of GDP and save €50 billion through spending cuts and tax hikes. Plus, amid US President Donald Trump's tariff threats, new data shows the US trade deficit with other countries widened to a new record in 2024. 

The US Postal Service has suspended the shipments of parcels from China and Hong Kong, rattling Chinese e-commerce brands like Shein and Temu. While no explanation was given, the statement comes a day after the Trump administration closed the "de minimis" loophole, which allowed parcels under $800 to enter the US duty free. Also in this edition, Canadian consumers are turning their backs on US-made goods after Donald Trump's threat of imposing 25 percent tariffs on Canadian imports.

After Donald Trump's 10 percent tariff on all Chinese imports took effect, China immediately hit back with a raft of targeted measures and said it would file a complaint with the World Trade Organization. That's not likely to go anywhere, however, as the WTO's dispute settlement system has been in crisis with its appellate body paralysed for years. Plus, Honda is now reportedly eyeing making Nissan a subsidiary, rather than merging under a holding company.