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EU sets stage for big battle over long-term budget
EU sets stage for big battle over long-term budget
by  AFP

The European Commission will kickstart two years of tense negotiations when it unveils its proposal Wednesday for the EU's long-term budget including funding reforms that risk renewed confrontation with farmers. Centralising "funding into a single fund may offer some budgetary flexibility, but it risks dissolving" the CAP with "fewer guarantees", pan-European farmers' group Copa-Cogeca has said.

Cuban president addresses anger over 'there are no beggars' claim
Cuban president addresses anger over 'there are no beggars' claim
by  AFP

Cuba's president was forced to step in Tuesday after a minister's assertion that "there are no beggars" caused an uproar on the economic crisis-stricken island. President Miguel Diaz-Canel entered the fray on X Tuesday to lambast Feito's "lack of sensitivity."

Trump unveils investments to power AI boom
Trump unveils investments to power AI boom
by  AFP

US President Donald Trump went to Pennsylvania on Tuesday to announce $92 billion in energy and infrastructure deals intended to meet big tech's soaring demand for electricity to fuel the AI boom. Trump made the announcement at the inaugural Pennsylvania Energy and Innovation Summit at Carnegie Mellon University, with much of the talk about beating China in the global AI race.

Trump says Indonesia to face 19% tariff under trade deal
Trump says Indonesia to face 19% tariff under trade deal
by  AFP

President Donald Trump said Tuesday that he had struck a trade pact with Indonesia resulting in a lower US tariff on the country's goods than earlier threatened, alongside better market access. India basically is working along that same line," Trump told reporters Tuesday, referring to market access.

Tackling debt 'curse', France wants to slash holidays
Tackling debt 'curse', France wants to slash holidays
by  AFP

France's Prime Minister Francois Bayrou said Tuesday he wanted to reduce the number of public holidays as part of an urgent plan to tackle what he called the "curse" of his country's debt. Presenting his outline 2026 budget plan, Bayrou said two holidays out of France's total of 11 could go, suggesting Easter Monday as well as and May 8, a day that commemorates the end of World War II in Europe.

US banks see lower recession risk despite tariff fog
US banks see lower recession risk despite tariff fog
by  AFP

Large US banks reported results that topped estimates Tuesday as executives pointed to American economic resilience and said businesses were adapting to tariff uncertainty. "We do anticipate further consumer cooling the second half (of 2025) as tariff effects play through," Mason said, while adding that "the global economic performance has been quite resilient."