Sam Fleming

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The final compromise is a scaled-down version of what Ursula von der Leyen, European Commission president, originally requested from leaders in May.

EU leaders have finally reached a deal on a €750 billion plan to reconstruct the region’s pandemic-stricken economies, after four days of summit talks(...)

Photograph: iStock

Brussels is planning to pursue low-tax member states over their advantageous corporate tax regimes as pressure mounts on EU policymakers to crack down(...)

The proposals, which have not yet been finalised, will intensify efforts by the EU to rein in perceived unfair competition from China and elsewhere. File photograph: Getty

Brussels is seeking new powers to review and potentially block takeovers of European companies by rivals deemed to have received unfair support from a(...)

Emmanuel Macron and Angela Merkel announce their historic €500bn EU recovery plan at a videoconference on May 18th.  Photograph: Kay Nietfeld via Getty Images

When German chancellor Angela Merkel announced one of the biggest U-turns of her career this week, the declaration was both emphatic and unexpected. (...)

A military member patrols the Trevi fountain, virtually deserted as Italy fights a coronavirus outbreak, in Rome. Photograph: Guglielmo Mangiapane/Reuters

Brussels will consider using flexibility in state aid rules to help EU governments cushion businesses from the coronavirus fallout as officials discus(...)

Jerome Powell, chairman of the US Federal Reserve: insists  central bank is “removed from the political process” and will try to do the right thing for the economy. Photograph: Andrew Harrer/Bloomberg

Federal Reserve policymakers said they would forge ahead with further rises in interest rates, with some talking of pushing borrowing costs into restr(...)

The US president Donal Trump kicked off the process of imposing tariffs on a further $200 billion of imports from China, in a significant escalation of the trade war between the two powers.

China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in its trade dispute, threat(...)

Jerome Powell, chairman of the Federal Reserve, testifying before the  house financial services committee   in Washington on Tuesday. Photograph: Getty Images

Jay Powell gave a markedly bullish assessment of the US economic outlook in his first congressional testimony as Federal Reserve chairman, triggering (...)

Mick Mulvaney was appointed by the White House as acting head of the Consumer Financial Protection Bureau, an agency he has described as a “sick joke”. Photograph: Al Drago/The New York Times

The White House is preparing for a legal battle for control of the top US consumer finance watchdog, with two rival acting heads expected to appear at(...)

Stanley Fischer, vice chairman of the US Federal Reserve, left, Janet Yellen, chair of the US Federal Reserve, center, and William Dudley, president and chief executive of the Federal Reserve Bank of New York. Photograph: David Paul Morris/Bloomberg

One of the Federal Reserve’s top policymakers has attacked attempts to reverse the post-crisis drive for tougher regulation, calling efforts to loosen(...)

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