As of July 28, today's news sees developments in the energy sector, particularly involving Prysmian, as well as notable trade discussions between the EU and the United States. Prysmian has secured a framework agreement with Terna worth a potential total of 382.5 million euros, aimed at enhancing the Italian power grid over the next three years, with an optional fourth year. This deal stipulates that Prysmian will provide High Voltage Alternating Current (HVAC) cables and maintenance services. Terna intends to purchase a minimum of 50 kilometers of high voltage cables annually, potentially increasing that volume. This collaboration underscores Prysmian's commitment to supporting Italy's energy transition while also bolstering domestic production, particularly from its facility in Pignataro Maggiore (Caserta), where recent investments have increased production capacity. Turning to global trade dynamics, the EU and the United States have agreed on a quota system regarding steel and aluminium trades, although the specific limits are still under discussion. This agreement will link quotas to historical import levels, with higher tariffs applied if these quotas are exceeded, likely impacting competitive pricing and availability in both regions. However, the EU's trade deal has been met with criticism, particularly from France, where Prime Minister François Bayrou expressed concerns about its implications for EU sovereignty, as it subjects many exports to a 15% tariff. This discontent resonates within other sectors, including industry leaders from Germany, who see the agreement as detrimental to their export-driven economy. Green politicians in the European parliament have criticised the EU-US trade deal for undermining the EU’s climate commitments. In market news, renewable energy firm Cox has made a 4.7 billion euros bid for Iberdrola’s assets in Mexico, a strategic move reflecting a significant shift in the energy landscape as Iberdrola continues to withdraw amid political instability. Furthermore, Iberdrola and Ireland-based data centre operator Echelon are creating a joint venture to develop and operate data centres in Spain. Iberdrola sees booming demand for data centres as one of the main drivers of future growth both for its grids and renewable energy businesses. On the global stage, in addition to the EU-US trade discussions, negotiations regarding the ongoing conflict between Ukraine and Russia remain tense. President Trump has set a new 10-12 day deadline for Russia's compliance with a truce, demonstrating a shift towards a more aggressive stance on sanctions against Moscow.