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Czech Billionaire Andrej Babis Returns as Prime Minister, Pledges to Divest from Business Empire

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Billionaire Andrej Babis has been appointed as the Czech Republic’s new prime minister, following a public pledge to relinquish control over his vast Agrofert conglomerate, which spans food processing, agriculture, and chemicals. Babis, 71, promised to serve all citizens and make the Czech Republic the “best place to live,” as he prepares to form a cabinet including far-right and Eurosceptic allies.

If Babis follows through, he will have no financial stake or influence over Agrofert’s operations, with the $4.3 billion conglomerate placed in a trust managed by an independent administrator until his death. Critics remain skeptical about the arrangement, as Czech law lacks a formal mechanism for blind trusts, raising concerns over potential conflicts of interest.

Babis’s influence extends beyond Agrofert, controlling other ventures such as private health clinics, reproductive services, a florist chain, and a retail brand. As prime minister for the second time, his reach into Czech economic and social sectors is set to expand, with his political shift to the right signaling a departure from the pro-Ukrainian stance of his predecessor.

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Russia Awaits US Response as New START Treaty Nears Expiry

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Russia said on Wednesday that it is still waiting for a formal response from the United States regarding President Vladimir Putin’s proposal to maintain the limits of the New START nuclear arms control treaty, which is set to expire on February 5. The treaty caps the number of strategic nuclear warheads and delivery systems, including land- and submarine-based missiles and bombers, for both countries. Putin had offered in September to voluntarily uphold the treaty limits for one year, a move that former U.S. President Trump described as “a good idea.”

Sergei Shoigu, head of Russia’s powerful Security Council, emphasized that fewer than 100 days remain before New START expires. He called Moscow’s proposal an opportunity to stop the “destructive movement” currently threatening nuclear arms control and urged Washington to respond soon. The treaty has historically aimed to enhance transparency and reduce the risk of miscalculation between the world’s largest nuclear powers.

With Russia and the U.S. together holding over 10,000 nuclear warheads, the vast majority of the global stockpile, arms control agreements have come under strain amid geopolitical tensions, NATO expansion, and Moscow’s war in Ukraine. Experts suggest maintaining New START could provide both nations more time to address China’s growing nuclear arsenal while preventing new Russian deployments, helping to preserve some measure of strategic stability.

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Wingtech Invites Nexperia Custodians for Talks Amid Ongoing Governance Dispute

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Wingtech Technology, the Chinese parent company of Dutch chipmaker Nexperia, has invited the court-appointed custodians of Nexperia to discuss control of the company—seen as a potential first step toward easing months of internal tensions. The rift between Nexperia’s European management and its Chinese parent deepened after the Dutch government intervened in September, leading to a court ruling that removed Wingtech founder Zhang Xuezheng as CEO over concerns he intended to shift production to China.

Although both sides have signaled interest in dialogue, they disagree on the agenda. Nexperia says it wants talks focused on restoring normal supply chain operations, which have been hit by wafer shipment stoppages, unpaid invoices and growing chip shortages that have affected global automakers. Wingtech, however, insists discussions must first address the restoration of its ownership rights and lawful control over the company.

Court-appointed custodian Arnold Croiset van Uchelen confirmed receiving Wingtech’s invitation but declined to share details of any upcoming meeting. Meanwhile, Nexperia’s Chinese packaging arm has declared itself independent and is seeking Chinese-made wafers, while the European unit has halted shipments to China. With dwindling chip inventories, the auto industry fears fresh shortages may emerge as early as January.

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France Passes Social Security Budget by Razor-Thin Margin

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French lawmakers approved the 2026 social security budget in a tense vote, offering Prime Minister Sebastien Lecornu a short-term political victory but exposing deep fractures within the government. The bill passed by just 13 votes, emphasizing the fragile state of a parliament where no party holds a majority.

To secure Socialist support, Lecornu agreed to delay President Emmanuel Macron’s controversial 2023 pension reform until after the 2027 election. While the move ensured funding for healthcare, pensions and welfare, it triggered backlash from centrist and conservative allies who say the concessions are too costly and could push the country towards greater financial strain. The approved plan still leaves France facing a social security deficit near €20 billion, a system that represents more than 40% of public spending.

Despite the narrow win, tougher battles loom ahead as lawmakers prepare to vote on the broader state budget later this month. The government aims to cut the national deficit to below 5% of GDP, but with growing political hostility and no clear majority, another crisis remains likely. Recent budget disputes have already toppled multiple governments since Macron’s election setback last year.

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France Set for Modest Year-End Growth Despite Political Turmoil

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France’s economy is poised to grow 0.2% in the fourth quarter of 2025, supported mainly by strong industrial activity, according to the Bank of France’s latest business sentiment survey. Although slower than the 0.5% recorded in the previous quarter, the country remains on track to meet or potentially exceed the government’s full-year growth target of 0.8%, showing resilience despite ongoing political instability.

The central bank’s survey of around 8,500 companies between Nov. 26 and Dec. 3 revealed that industrial performance continues to surpass expectations for the sixth straight month. Production of computer, electronic and optical goods led the surge, while automotive and agro-food sectors also showed renewed strength, broadening the industrial recovery.

In contrast, services and construction have remained mostly flat heading into December. Businesses expect industrial activity to continue growing, though at a slower rate, while services and building activity are forecast to show little change. Despite the political challenges facing minority governments in passing budgets, the industrial sector remains the backbone of France’s near-term economic momentum.

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Lithuania Declares Emergency Over Balloon Incursions from Belarus

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Lithuania has declared a state of emergency after a surge of smuggler balloons crossing from Belarus repeatedly disrupted national airspace and forced the temporary closure of Vilnius Airport. Authorities say the balloons, allegedly used to transport illegal cigarettes, represent a “hybrid attack” that threatens both civil aviation and national security. Belarus denies any involvement, accusing Lithuania of staging provocations, while President Alexander Lukashenko dismissed the situation as exaggerated and “politicised”.

The Lithuanian government has asked parliament to grant expanded powers to the military, allowing them to support police and border guards during the emergency period. If approved, the army would be allowed to restrict movement, search vehicles and people, control access to designated areas, and detain suspects using force when necessary. The measures will remain in place until the government lifts the state of emergency.

The tensions follow previous border disputes between the neighbouring states. Lithuania has twice imposed emergencies in recent years — once in 2021 over allegations that Belarus was sending migrants across the border, and again in 2022 after Russia’s invasion of Ukraine heightened fears of regional instability. The European Commission recently condemned the balloon incidents as an “unacceptable hybrid attack” by Belarus.

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Kremlin Rejects Claims Putin Wants Soviet Revival or NATO Attack

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The Kremlin has dismissed European accusations that Russian President Vladimir Putin aims to restore the Soviet Union or launch an attack on NATO. Spokesman Dmitry Peskov said on Tuesday that such claims were false and disrespectful, insisting that Putin has repeatedly stated it is impossible to recreate the U.S.S.R. Putin, who once described the Soviet collapse as a major geopolitical catastrophe, has long argued this view relates to the hardship faced by Russians at the time, not a desire to rebuild the former bloc.

The remarks came after German Chancellor Friedrich Merz claimed Putin seeks to revive the “old Soviet Union” and posed a threat to NATO. Western leaders have frequently warned that a successful Russian campaign in Ukraine could embolden Moscow to target NATO member states. Putin, however, has repeatedly called the idea irrational, pointing to NATO’s military superiority.

Peskov rejected Merz’s statements as misguided and offensive, saying the allegations misrepresent Russia’s intentions. He reiterated that suggestions of Moscow preparing to attack NATO are “complete stupidity,” accusing critics of misunderstanding or deliberately twisting Russia’s official positions.

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Italy Awaits UNESCO Recognition for Its Culinary Heritage

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Italy’s iconic food culture, from pasta and pizza to regional dishes like risotto and orecchiette, is on the brink of global recognition as UNESCO’s “Intangible Cultural Heritage.” A UNESCO panel has recommended adding Italian cuisine to the prestigious list, with the final decision expected on Wednesday. The bid, launched in 2023 by Italy’s agriculture and culture ministries, highlights food as a social ritual that fosters community bonds, rather than merely a set of recipes.

Prime Minister Giorgia Meloni supports the move, calling Italian cuisine a symbol of national identity and strength. Industry experts say UNESCO recognition could boost Italy’s tourism by up to 8% within two years and reinforce its global culinary presence. Italian gastronomy not only connects 59 million residents but also up to 85 million people of Italian descent worldwide, despite the challenges posed by imitation products costing Italy billions each year.

However, critics argue the bid is more about marketing than cultural preservation. Food historian Alberto Grandi claims that many “traditional” Italian dishes are influenced by foreign cultures or are relatively modern inventions, sparking backlash from farmers’ groups defending the country’s culinary roots. For chefs and restaurateurs, however, a UNESCO nod would be a cherished tribute. As Michelin-starred chef Massimo Bottura puts it, “Italian cuisine is an ancient, daily, sacred ritual — the art of caring and loving without saying a word.”

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X Blocks EU Advertising After €120M Fine

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Elon Musk’s social media platform X has banned the European Commission from running adverts on the site, days after being fined €120 million (£105m) by the EU under the Digital Services Act. The fine accused X of misleading users through its blue tick verification system, which the regulator said was not actually verifying identities and could enable scams and impersonation.

Nikita Bier, a senior X executive, claimed the European Commission attempted to exploit the platform’s advertising tools by posting content in a way that artificially boosted its reach. He argued that the Commission believed rules did not apply to them, leading to the termination of its ad account. The EU rejected the accusation, stating it only uses social media tools provided by platforms and does so in “good faith.”

The dispute adds to ongoing global clashes between X and regulators. The EU has also accused the platform of lacking transparency on adverts and restricting researcher access to public data. X now has 60 days to justify its verification practices or face further penalties. The platform has previously faced sanctions in Brazil and Australia over misinformation and safety compliance issues.

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Ukraine Prepares New Peace Plan, Zelensky Rejects Territorial Concessions

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Ukraine is set to present a revised peace proposal to the United States, aiming to avoid territorial concessions to Russia. President Volodymyr Zelensky reiterated that ceding land is not an option, citing Ukrainian law, the constitution, and international law. His comments came during meetings with European and NATO leaders, amid ongoing diplomatic efforts to secure a peace deal without compromising Ukraine’s sovereignty.

The revised plan follows intensive weekend talks between US and Ukrainian negotiators that failed to yield an agreement acceptable to Kyiv. Zelensky emphasized that sensitive issues like control of the Donbas region and the Zaporizhzhia nuclear power plant remain non-negotiable. The original US-backed draft, which proposed handing over full control of Donbas to Russia and splitting energy from Zaporizhzhia, has been trimmed from 28 to 20 points, with no compromise on territorial matters.

Meanwhile, fighting continues along the front line, including a drone attack on Sumy that cut power but caused no casualties. Zelensky’s European tour included meetings with leaders in London and Brussels to secure support and potential security guarantees for Ukraine. Talks with Moscow reportedly remain ongoing, though little progress has been publicly acknowledged, and the US seeks a resolution ahead of the 2024 presidential elections.

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