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US national debt has surpassed 40 trillion dollars, with interest payments now exceeding defense spending. Economists warn this comes at the expense of future investments, though an immediate default is unlikely.
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Chancellor Merz warned of further job losses in Germany's industrial sector. Volkswagen plans to cut 50,000 jobs and reduce its model range, with the future of four German plants uncertain.
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The tech industry is massively cutting jobs in 2026, with over 12,900 positions eliminated in Silicon Valley alone by September. This figure already exceeds last year's level by 27 percent and is attributed to investments in artificial intelligence.
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A turbulent session in the Polish parliament saw Prime Minister Tusk reveal details from investigations into a crypto exchange scandal, naming former Justice Minister Zbigniew Ziobro. An attempt to override a presidential veto on a cryptocurrency law failed.
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The funeral of convicted war criminal Ratko Mladić is taking place in Belgrade, but without state or military honors. The Serbian government denies accusations of glorification, while the EU criticizes this as incompatible with its values.
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At least five shots were fired at a bar in Cologne, leaving four bullet holes in the facade. Police are searching for two suspects and investigating possible links to two other attacks on Turkish restaurants this week, which may involve extortion attempts.
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The US is exerting economic pressure on Iran to force a peace agreement. China is resisting sanctions, India is balancing between the US and Iran, while the United Arab Emirates has halted trade with Iran.
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An Argentinian court has ordered the return of a painting by Giacomo Antonio Melchiorre Ceruti, seized in a Nazi-looted art case. The artwork, formerly owned by Jewish art dealer Jacques Goudstikker, will be returned to the Netherlands after a public exhibition in Argentina.
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Dr. Nikolas Stihl of chainsaw manufacturer Stihl criticizes Germany's economic situation, calling for bold reforms. He points to a loss of 15 percent of industrial production and 15,000 industrial jobs per month. Stihl advocates for reducing bureaucracy, lowering labor costs, and incentivizing research and development.
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High fuel prices in Europe are due to tight refinery capacities, disrupted trade routes, and a general diesel shortage, despite moderate crude oil prices. Refinery margins are high as demand for finished products exceeds supply.
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