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Mega-Deals Drive Global M&A to Record High in First Half of 2026

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Global mergers and acquisitions (M&A) reached a record $2.8 trillion in announced deals during the first half of 2026, marking a 48% increase compared to the same period last year, according to LSEG data. The surge was largely driven by 47 mega-deals valued at over $10 billion each, which together accounted for more than $1.3 trillion in transactions. Despite the record value, the total number of deals fell 9% to around 24,000, the lowest level in six years.

Investment bankers say companies are taking advantage of improved regulatory conditions, strong financing availability, and growing investor preference for larger, more focused businesses. High-profile transactions, including NextEra Energy’s acquisition of Dominion Energy and SpaceX’s purchase of Cursor, reflected the increasing appetite for transformational deals. Analysts believe many companies are now pursuing long-planned acquisitions to strengthen their competitive position and drive future growth.

Technology remained the most active sector, recording $649 billion in announced deals, with artificial intelligence and infrastructure-related industries attracting strong interest. Cross-border M&A activity also rose 62% year-on-year to $893 billion, led by transactions involving the United States and the United Kingdom. Experts expect dealmaking momentum to continue through the rest of 2026 as companies seek expansion, strategic partnerships, and business restructuring opportunities.

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Rebel Catholic Group Defies Pope Leo XIV by Ordaining Four Bishops in Switzerland

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A breakaway Catholic group, the Society of St. Pius X (SSPX), ordained four new bishops in Écône, Switzerland, on Wednesday despite a direct appeal from Pope Leo XIV to halt the ceremony. Thousands of supporters gathered to witness the ordination, which the Vatican had warned would be considered a schismatic act. In a letter sent earlier this week, the Pope urged the group’s leadership to reconsider, describing the move as a serious breach of Church unity.

According to Catholic Church law, only the Pope can authorize the consecration of bishops to preserve apostolic succession. The Vatican stated that the unauthorized ordinations automatically result in excommunication for both the newly ordained bishops and the bishop who performed the ceremony. The event was also streamed live on social media.

The Society of St. Pius X, known for its opposition to the reforms introduced by the Second Vatican Council in the 1960s, has had a strained relationship with the Vatican for decades. Its founder, Archbishop Marcel Lefebvre, was excommunicated in 1988 after carrying out similar unauthorized ordinations. Although some penalties were later lifted during Pope Benedict XVI’s papacy, the group’s current leadership proceeded with the new ordinations, saying additional bishops were needed to oversee its growing global community.

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Fed Chair Kevin Warsh Makes Global Debut as Inflation Takes Centre Stage

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U.S. Federal Reserve Chair Kevin Warsh made his first major international appearance at the European Central Bank’s annual forum in Sintra, Portugal, joining ECB President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Canada Governor Tiff Macklem. The discussion focused on the shared challenge of bringing inflation under control, while also highlighting differing views among central banks on issues such as climate change and central bank independence.

Warsh, who assumed office in late May, has adopted a hawkish stance on inflation, keeping U.S. interest rates unchanged during his first policy meeting while reaffirming the Federal Reserve’s commitment to its 2% inflation target. His comments raised expectations that the Fed could consider another rate hike later this year. Unlike previous Fed leaders, Warsh has also reduced the use of forward guidance, arguing that markets should rely less on central bank signals and more on economic data.

The event also drew attention to broader policy differences between the Federal Reserve and its global counterparts. While European and Canadian central bankers continue to consider climate change as an important financial risk, Warsh has argued that the Fed should avoid expanding beyond its core mandate. The panel also came amid renewed debate over the Federal Reserve’s independence following recent legal developments involving Fed Governor Lisa Cook, although Warsh has largely avoided commenting publicly on the issue.

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BYD Nears Decision on Second European Manufacturing Plant

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Chinese electric vehicle giant BYD is close to finalising plans for a second manufacturing facility in Europe as it accelerates its regional expansion. Speaking at the Reuters Automotive Europe conference in Frankfurt, BYD’s special adviser for Europe, Alfredo Altavilla, said a decision is expected soon, with Spain and France emerging as the leading candidates. The company is reportedly exploring the acquisition of an existing automobile factory rather than building a new facility from scratch.

The proposed investment would become BYD’s second European production site after its Hungary plant, where manufacturing is scheduled to begin later this year. The move comes as the European Union promotes greater local manufacturing through “Made in Europe” initiatives, while traditional automakers continue to grapple with overcapacity, rising costs, and increased competition from Chinese electric vehicle manufacturers.

BYD’s expansion follows strong sales growth in Europe, where deliveries surged 270% last year and more than doubled during the first five months of 2026. Altavilla argued that European automakers should focus on improving competitiveness instead of trying to resist Chinese rivals, describing the industry’s restructuring efforts as a necessary wake-up call. He also dismissed suggestions that Chinese manufacturers would be willing to share their latest technology through minority joint ventures.

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Germany Arrests Rwanda Genocide Suspect Accused of Ordering Killings

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German prosecutors have arrested a German-Rwandan national accused of assisting in the 1994 Rwanda genocide by ordering the killings of Tutsis. The suspect, identified only as Innocent S under German privacy laws, was detained in the central state of Hesse. He faces charges of complicity in genocide and 25 counts of murder for allegedly directing attacks while serving as an assistant to the mayor of Kayove in northwestern Rwanda.

According to prosecutors, the suspect is accused of ordering the deaths of 25 Tutsi victims across five separate incidents. In one case, he allegedly took part directly in the killing by stabbing a victim in the chest. Investigators also claim he used his official position to incite violence against the Tutsi population and helped prepare death lists during the genocide.

Germany has pursued several Rwanda genocide suspects under the principle of universal jurisdiction, which allows courts to prosecute serious international crimes regardless of where they were committed. The 1994 Rwanda genocide, carried out by Hutu extremists over approximately 100 days, claimed the lives of more than 800,000 Tutsis and moderate Hutus, making it one of the deadliest atrocities of the 20th century.

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Spain’s Citizenship Law Triggers Political Clash Over Overseas Voters

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Spain’s citizenship law granting nationality to descendants of Spaniards exiled during the Civil War and the Franco dictatorship has become the center of a political dispute ahead of the country’s next general election. Since the law was expanded in 2022, more than 544,000 people have obtained Spanish citizenship, with over 306,000 registering to vote, while hundreds of thousands of applications are still awaiting approval.

Opposition parties, including the conservative People’s Party (PP) and far-right Vox, have accused Prime Minister Pedro Sánchez’s government of using the citizenship process to influence future election results. They allege, without providing evidence, that the government is strategically processing applications and voter registrations. The government has firmly denied the claims, calling them irresponsible and stating it has no control over where new citizens choose to register to vote.

The legislation extends earlier reparations measures by allowing more descendants of Spanish exiles, as well as people affected by historical discrimination, to claim citizenship. Similar ancestry-based citizenship laws exist in several European countries. While overseas voting has traditionally been low, the growing number of new citizens has intensified debate over the potential political impact of Spain’s expanding diaspora electorate.

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EU Carbon Market Overhaul Sparks Industry Concerns Over Climate Goals

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European industrial companies have warned that proposed changes to the European Union’s Emissions Trading System (ETS) could weaken incentives for businesses that have invested heavily in low-carbon technologies. Firms including SSAB, Heidelberg Materials, and Rockwool argue that easing carbon pricing or expanding free emissions permits would unfairly benefit higher-polluting competitors and reduce the value of early investments in cleaner production.

The European Commission is expected to present its revised ETS proposal on July 15 as part of efforts to align climate policies with the EU’s 2040 emissions targets. However, several political leaders have pushed for a softer approach, citing rising energy costs and concerns over industrial competitiveness. Companies such as BASF, ArcelorMittal, and thyssenkrupp have urged policymakers to address mounting carbon costs while maintaining a balanced approach.

Industry leaders and investors caution that weakening the ETS could undermine confidence in Europe’s climate strategy and discourage future investment in green technologies. They argue that long-term policy stability is essential for financing low-carbon innovation, warning that changes to the carbon market will not solve broader challenges such as high energy prices, infrastructure shortages, and global competition.

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Sweden Proposes Tougher Sentencing Laws Ahead of National Election

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The Swedish government has announced plans to introduce tougher criminal sentencing laws ahead of the country’s September general election, aiming to strengthen its response to crime and repeat offenders. The proposed legislation would encourage courts to impose harsher penalties by making greater use of the upper end of sentencing ranges and ensuring that multiple offences are more fully reflected in prison terms.

Justice Minister Gunnar Strömmer said the current system often fails to adequately punish repeat offenders because sentences are largely based on the most serious offence rather than the total number of crimes committed. Under the proposed reforms, courts would consider all offences when determining sentences. The government also plans to reduce the weight given to mitigating factors, such as the impact of imprisonment on a person’s employment.

The measures are part of Sweden’s broader crackdown on gang-related crime, which has remained a major political issue despite a decline in shootings in recent years. The right-wing government has already introduced stricter laws, including tougher penalties for gang offences, expanded police surveillance powers and prison sentences for offenders as young as 14, as it seeks to reassure voters ahead of the election.

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Rescue Teams Search Rubble After Apartment Building Collapses in Athens

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Emergency crews in Athens launched a large-scale search operation after a four-storey apartment building collapsed in the Petralona district on Tuesday. Firefighters, rescue teams and specially trained search dogs were deployed to comb through the debris amid concerns that people could be trapped beneath the rubble.

Authorities later confirmed that four individuals initially believed to be trapped had been located safely. However, rescue operations continued as emergency personnel searched the site to ensure no other victims remained under the collapsed structure. Additional response teams stayed on standby throughout the operation.

The cause of the collapse has not yet been determined. Officials said construction work was underway at a neighbouring building at the time of the incident, though it remains unclear whether it was linked to the collapse. An investigation has been launched as authorities work to determine what caused the building to give way.

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Germany’s World Cup Exit Sparks Doubts Over Nagelsmann’s Future

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Germany’s FIFA World Cup campaign came to a disappointing end after a dramatic penalty shootout defeat to Paraguay in the Round of 32, intensifying pressure on head coach Julian Nagelsmann. Despite dominating possession and creating several chances, Germany were held to a 1-1 draw after extra time before losing 4-3 on penalties. The defeat marked another early World Cup exit for the four-time champions and extended a worrying run of disappointing performances in major tournaments.

The loss has sparked widespread criticism of Germany’s display and renewed questions over Nagelsmann’s future. Former players and football analysts argued that the team lacked creativity, physical presence and the winning mentality that once defined German football. While Nagelsmann admitted the elimination was painful and acknowledged his team’s shortcomings, he insisted he was prepared to continue if the German Football Association chooses to keep him in charge.

Germany’s struggles have reignited debate over the country’s football development system, with experts suggesting the national team has lost the aura that once made it one of the world’s most feared sides. Although the squad showed flashes of quality during the tournament, another premature exit has increased calls for significant changes as Germany looks to rebuild ahead of future international competitions.

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