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UK to Invest £1.1 Billion in Maritime Sector to Boost Jobs and Green Growth

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The UK government announced plans on Monday to jointly invest more than £1.1 billion ($1.5 billion) with industry partners in the maritime sector. Officials said the initiative will create new jobs and drive growth in coastal communities across the country, with a particular focus on engineering, green technology, and construction.

The funding package includes £700 million in private investment earmarked for major UK ports, alongside £448 million in public funding to cut carbon emissions from shipping. According to the government, this represents one of the largest ever commitments to strengthening the nation’s maritime infrastructure while accelerating its transition to greener operations.

The announcement, set to be formally unveiled on September 15 at the start of London International Shipping Week, underscores the UK’s ambitions to reach net-zero emissions by 2050. “We’re committing almost half a billion to cut carbon emissions from shipping – steering us towards net zero by 2050,” UK Transport Minister Heidi Alexander said.

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Fitch Downgrade Puts Pressure on New French PM Lecornu Amid Budget Talks

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France’s credit rating has been cut by Fitch to A+ from AA-, its lowest on record, casting a shadow over newly appointed Prime Minister Sebastien Lecornu as he begins budget negotiations. Fitch cited political instability and rising debt for the downgrade, which comes just days after President Emmanuel Macron named Lecornu as his fifth prime minister in two years. While markets reacted calmly, analysts warned the move raises fresh risks ahead of upcoming reviews by Moody’s and S&P.

The downgrade complicates the government’s efforts to present a draft 2026 budget to parliament by early October. Lecornu faces the daunting challenge of balancing investor demands for spending cuts with pressure from unions, who have called nationwide strikes this week, and political blocs divided over tax and reform strategies. In his first interviews, Lecornu scrapped unpopular holiday cuts but left the door open to higher taxes on the wealthy, a move opposed by business groups and conservatives but supported by the Socialists as a condition for backing his government.

With France’s deficit at 5.4% of GDP, Lecornu has pledged to put public finances on a “healthy trajectory,” though he admitted the budget may not fully reflect his own convictions. Employers’ federation MEDEF has threatened mass mobilization against any wealth tax, while the far-right National Rally renewed calls for fresh elections. Analysts warn that continued political gridlock could lead to another downgrade, increasing borrowing costs and straining Macron’s already fragile government.

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Spain Shelves Shorter Work Week Bill in Blow to Sanchez Government

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Spain’s lower house of parliament has rejected a bill to reduce the standard work week from 40 hours to 37.5, handing another setback to the Socialist-led minority government of Prime Minister Pedro Sanchez. The proposal, championed by Labour Minister Yolanda Díaz and major trade unions, was blocked late Wednesday when opposition lawmakers joined forces with Catalan separatist party Junts to prevent it from reaching the floor for debate.

Junts, despite occasionally backing the central government, sided with the conservative People’s Party and far-right Vox, producing a 178–170 majority against the measure. Opponents argued the reform would burden small businesses and farmers, raising costs and risking job losses. Díaz condemned Junts’ stance as “incomprehensible” and vowed to reintroduce the legislation.

The defeat adds to a string of setbacks for Sanchez, who has struggled to advance reforms and secure parliamentary backing amid corruption scandals and waning voter support. His government, already under pressure for failing to pass a long-overdue budget, faces mounting challenges as Vox gains popularity and relations with Catalan parties remain strained despite a contentious amnesty deal for separatists.

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Swiss Lawmakers Push Back on Tougher Anti-Money Laundering Rules Amid Rising Global Competition

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Swiss lawmakers are seeking to dilute government proposals aimed at preventing financial crime, arguing that stricter rules could erode the country’s competitiveness in global cross-border wealth management. Switzerland, long the world’s largest wealth hub, faces mounting competition from rival centres such as Singapore and the UAE, while a Boston Consulting Group forecast warns Hong Kong could overtake Switzerland as the leading booking centre for cross-border wealth as early as 2025.

The government’s anti-money laundering legislation was designed to meet Financial Action Task Force (FATF) requirements, including curbs on shell companies and greater due diligence for advisers. But parliament has watered down key measures, exempting charities, trust arrangements, and some lawyers from transparency registers and due diligence rules. Finance Minister Karin Keller-Sutter warned that the amendments significantly reduced the scope of safeguards, while critics said the changes risk undermining Switzerland’s commitments to fight financial crime.

Supporters of the rollback, including lawmakers from the right-wing Swiss People’s Party, centre-right Liberals, and The Centre, argue the measures are excessive and burdensome, pointing out that Switzerland already enforces more detailed compliance rules than other financial hubs. However, Anton Broennimann, head of the country’s financial crime unit, cautioned that Switzerland must not allow competitive pressures to make it attractive to criminals, stressing that an effective system was vital to safeguard the country’s reputation as an international financial centre.

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Poland Shoots Down Drones in Historic NATO First, Raising Fears of Wider Conflict

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Poland confirmed on Wednesday that it shot down drones that entered its airspace, marking the first time a NATO member has fired during Russia’s war in Ukraine. Polish Prime Minister Donald Tusk described the incident as a “large-scale provocation” and warned that it brings Europe closer to open conflict than at any point since World War Two. The move, he said, alters the political situation and underscores the need to prepare for multiple scenarios.

The escalation drew swift international reactions. European Union foreign policy chief Kaja Kallas said Russia’s war is “escalating, not ending,” urging stronger defence investments and support for Ukraine. French President Emmanuel Macron condemned the drone incursion as “unacceptable,” pledging full solidarity with Poland and consultations with NATO leadership. British Prime Minister Keir Starmer called the violation of Polish and NATO airspace an “egregious and unprecedented” act that highlighted Moscow’s disregard for peace.

Ukrainian President Volodymyr Zelenskiy stressed the significance of European nations acting jointly to shoot down Russian weapons, saying only coordinated action can ensure security. Meanwhile, NATO’s Supreme Allied Commander Europe, General Alexus Grynkewich, confirmed the alliance responded “quickly and decisively,” reaffirming NATO’s resolve to defend allied territory. Russia, however, denied responsibility, with its envoy in Warsaw dismissing the accusations as “groundless.”

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FCA Proposes Flexibility on Contactless Payment Limits in Britain

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The Financial Conduct Authority (FCA) has proposed allowing card providers in Britain to set their own contactless payment limits, potentially raising the current £100 ($135.35) cap. The regulator said the move aims to make payments more convenient for consumers while supporting digital solutions and economic growth.

The consultation, open until October 15, is part of 50 measures the FCA outlined to the prime minister earlier this year. While the regulator does not expect immediate changes, the flexibility would give firms more freedom to tailor limits to customer needs. Many providers already let users adjust their personal limits or disable contactless features entirely.

David Geale, the FCA’s executive director of payments and digital finance, stressed that fraud protection remains in place. “Even with contactless, firms will refund your money if your card is used fraudulently,” he said, adding that stronger controls mean consumers can benefit from greater convenience without compromising safety.

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Five Eyes Alliance to Announce Tougher Border Security Measures

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Homeland ministers from the Five Eyes alliance – the U.S., Britain, Canada, Australia, and New Zealand – are set to announce new measures this week to strengthen border security and dismantle criminal smuggling networks. The meeting will be held in London on Monday and Tuesday, with Britain’s newly appointed Interior Minister Shabana Mahmood confirming that the talks will focus on “hitting people smugglers hard.”

Alongside people smuggling, the discussions will also cover joint efforts to combat online child sexual abuse and curb the spread of deadly synthetic opioids. U.S. Homeland Security Secretary Kristi Noem, Canada’s Gary Anandasangaree, Australia’s Home Affairs Minister Tony Burke, and New Zealand’s Judith Collins will join Mahmood at the high-level talks.

The issue of migration has become a major political flashpoint worldwide. In the U.S., President Donald Trump has made both legal and illegal immigration a central priority of his second White House term, while in Britain, the government faces intense pressure to address record asylum claims and the rising number of small boat crossings across the English Channel.

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Russia Denies Role in GPS Jamming of EU Chief’s Plane

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Russia has dismissed allegations that it was behind the jamming of European Commission President Ursula von der Leyen’s airplane, calling the claims baseless and paranoid. The denial came from Russian foreign ministry spokeswoman Maria Zakharova on Thursday, following reports of suspected interference.

An EU spokesperson earlier stated that von der Leyen’s plane experienced GPS disruptions while en route to Bulgaria on Sunday. The spokesperson added that European authorities suspected Russian involvement in the incident, raising concerns over aviation security and potential geopolitical motives.

Moscow, however, has rejected the accusations outright. Zakharova emphasized that the narrative was fabricated and fueled by paranoia, accusing European officials of spreading disinformation. The latest exchange adds to already tense relations between Russia and the European Union amid ongoing political and security disputes.

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UK Regulator Probes $2.4 Billion Healthcare Property Deal

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Britain’s Competition and Markets Authority (CMA) has launched an investigation into Primary Health Properties’ (PHP) $2.4 billion acquisition of rival Assura, a leading healthcare real estate investor. The regulator said it was assessing whether the deal could result in a “substantial lessening of competition” in the UK healthcare property market.

PHP completed the takeover of Assura in August, following a prolonged bidding battle with U.S. private equity firm KKR. The acquisition valued Assura at 53.3 pence per share, comprising 0.3865 new PHP shares, 12.5 pence in cash per share, and a special dividend of 0.84 pence. Both companies have yet to comment on the regulator’s review.

Assura currently manages more than 600 healthcare properties, with the National Health Service among its key clients. The CMA has set October 29 as the deadline for its decision on the initial phase of the inquiry.

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French Actor Gerard Depardieu to Face Trial on 2018 Rape Charges

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French film icon Gerard Depardieu, 76, will stand trial on charges of raping actress Charlotte Arnould in 2018, marking another major setback to his career following a sexual assault conviction earlier this year. Arnould, then in her early 20s, alleged that the assaults took place on two separate occasions at Depardieu’s Paris home. The Paris prosecutor’s office confirmed that an investigating judge has referred the case to court, though no trial date has been set.

Arnould, now 29 and a theatre and voice actress, expressed relief over the ruling in an Instagram post, calling it “huge” and criticizing Depardieu’s previous courtroom defense, where his lawyer labeled her a liar. She has since become a prominent voice in France’s #MeToo movement, advocating for victims of sexual violence and accountability in the film industry.

Depardieu, one of French cinema’s most recognizable figures since his breakthrough in the 1970s, has faced multiple allegations of sexual misconduct in recent years. In May, he received an 18-month suspended prison sentence for sexually assaulting two women on a film set, a verdict his lawyer vowed to appeal. Arnould’s case, initially dropped in 2018, was reopened in 2020 and formally sent to trial in 2022. Depardieu has denied all wrongdoing.

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