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Volkswagen Shares Surge After Strong Automotive Cash Flow Surprise

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Volkswagen shares climbed to the top of Germany’s DAX index on Thursday after the carmaker reported stronger-than-expected automotive cash flow for 2025. Europe’s largest automaker said its automotive division generated net cash flow of about 6 billion euros, well above its own forecast of around zero, boosting investor confidence and driving the stock up 4.6% in morning trading.

The result marked a 1 billion-euro improvement from the previous year and exceeded market expectations, with analysts noting that while management had hinted at possible upside, the scale of the beat was a surprise. Broader sentiment toward the sector was also supported by easing trade concerns after U.S. President Donald Trump stepped back from threats of tariffs against European allies, reducing near-term risks for exporters.

Despite the upbeat performance, Volkswagen cautioned that challenges remain. The company expects pricing conditions to stay tight and profits from its China joint venture to decline in 2026 before recovering in 2027. Shares across the European auto sector rose in sympathy, while Volkswagen is set to publish its full-year 2025 results and 2026 outlook on March 10.

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EU-Mercosur Trade Deal Set for Provisional Start Despite Legal Challenge

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The European Union’s long-awaited free trade agreement with Mercosur countries is likely to be applied provisionally from as early as March, according to an EU diplomat. The move could go ahead once the first Mercosur nation ratifies the pact, with Paraguay expected to do so in the coming weeks, allowing parts of the deal to take effect despite ongoing political and legal hurdles within the EU.

Momentum behind the agreement has been complicated by EU lawmakers referring the deal to the European Court of Justice, a step that could delay full implementation by up to two years. The referral has disappointed several EU governments and businesses, particularly in Germany, where the deal is strongly supported as a driver of growth. German Chancellor Friedrich Merz criticised the move, stressing that the agreement remains essential for Europe’s economic future.

Signed after 25 years of negotiations, the EU-Mercosur pact is the bloc’s largest trade deal to date and is seen by supporters as a way to offset losses from U.S. tariffs and reduce dependence on China. However, opposition remains strong, led by France and farming groups, who warn that increased imports of South American agricultural products could undermine European farmers and disrupt local markets.

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EU Leaders Reassess U.S. Relationship After Trump’s Greenland U-Turn

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European Union leaders are reassessing their relationship with the United States after former President Donald Trump’s recent threats of tariffs and remarks about acquiring Greenland unsettled transatlantic trust. Although Trump later reversed his stance—ruling out military action and stepping back from proposed tariffs—EU diplomats say the episode has highlighted the unpredictability of U.S. policy and prompted calls for a more independent European strategy, particularly in defence and trade.

At an emergency summit in Brussels, EU leaders are expected to discuss reducing their reliance on the United States, especially within NATO, where Europe still depends heavily on U.S. intelligence, defence systems and logistics. The bloc is also economically exposed, as the U.S. remains its largest trading partner, leaving Europe vulnerable to sudden tariff threats. Diplomats stressed the need to define clear “red lines” and prepare responses should Washington again shift course.

Uncertainty also remains over the details of a proposed Greenland framework agreement discussed by Trump and NATO Secretary General Mark Rutte, including plans to increase Western presence in the Arctic. While Trump’s reversal eased immediate tensions, EU officials say the broader challenge persists: balancing efforts to keep the U.S. engaged while strengthening Europe’s own resilience, unity and long-term strategic autonomy.

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Telenor Sells $3.9 Billion Stake in Thailand’s True Corporation

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Norway’s Telenor has agreed to sell its 30.3% stake in Thailand’s True Corporation for 39 billion Norwegian crowns ($3.9 billion), marking its second major divestment from Asian markets in recent months. The telecom group said it signed a deal with Arise Digital Technology Company, owned by Khun Suphachai Chearavanont, to sell an initial 24.95% stake, with the remaining 5.35% to be sold two years after the first transaction closes.

True Corporation is one of Thailand’s largest telecom operators, serving around 60 million customers. Telenor said it expects to book an accounting gain of 14.7 billion Norwegian crowns from the initial sale and will provide more details on how it plans to use the proceeds in the coming month. The transaction is subject to customary conditions and is expected to close within a few months.

The sale reflects Telenor’s broader strategy shift as the Asian telecom industry matures. Having invested across Asia since the 1990s, including in Bangladesh, Thailand, Malaysia and Pakistan, the company has recently moved to streamline its portfolio. CEO Benedicte Schilbred Fasmer said the divestment supports Telenor’s aim to improve returns and sharpen its focus on core markets, particularly in the Nordic region.

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Prince Harry Tells Court Daily Mail Made Meghan’s Life “A Misery”

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Prince Harry became emotional in London’s High Court as he testified that coverage by the Daily Mail had made his wife Meghan Markle’s life “an absolute misery.” Giving evidence in a privacy lawsuit against Associated Newspapers, the Duke of Sussex said the treatment by the publisher had worsened since he and other claimants launched legal action in 2022, adding that the experience of returning to court was deeply distressing.

Harry, who is among seven claimants including singer Elton John and actor Elizabeth Hurley, accused Associated of unlawful information-gathering practices such as phone hacking, bugging and deception. The publisher has rejected the claims as “preposterous,” insisting its journalists relied on legitimate sources and social contacts. Under cross-examination, Harry firmly denied that reporters were part of his social circle, saying he had never been friends with the journalists involved.

Describing Associated’s legal defence as “disgusting,” Harry said the case had reopened old trauma linked to years of intense media scrutiny, which he has long blamed for harming his family. He argued that the lawsuit was not only personal but a matter of public accountability, warning that if powerful media organisations evade justice, the right to privacy is undermined for everyone.

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Spanish Train Drivers Call Nationwide Strike After Deadly Derailments

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Spain’s largest train drivers’ union, SEMAF, has called for a nationwide strike, demanding stronger safety assurances following a series of deadly rail accidents that have shaken the country. The move comes after one of Europe’s worst recent train crashes near Adamuz in southern Spain killed at least 42 people, along with two additional derailments this week that claimed the life of a commuter train driver near Barcelona and disrupted regional services.

SEMAF said it would seek criminal accountability from those responsible for rail safety, revealing it had warned infrastructure operator Adif months earlier about severe track wear on the Adamuz stretch. According to the union, potholes, uneven tracks, and damaged overhead power lines had caused frequent breakdowns and raised safety risks on several high-speed routes. Authorities are continuing recovery efforts at the Adamuz site, where rescuers are still searching for possible remaining victims.

Transport Minister Oscar Puente acknowledged the emotional toll on train drivers but urged the union to reconsider the strike, noting that two of the recent derailments were caused by extreme weather rather than track conditions. Adif has since imposed additional speed limits and ordered inspections after drivers reported poor track conditions, while storms and safety checks have triggered widespread service suspensions, leaving commuters across regions like Catalonia scrambling for alternatives.

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NATO Faces Strain, But Russia Remains Core Threat: Norway Defence Minister

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Norway’s defence minister Tore O. Sandvik said NATO is going through a challenging period due to tensions sparked by the crisis over Greenland, but stressed that the alliance must stay focused on its primary security concern — Russia. Speaking to foreign correspondents in Oslo on Wednesday, Sandvik said the current situation within NATO is difficult, yet unity against common threats remains essential.

His remarks come as U.S. President Donald Trump continues to press for the acquisition of Greenland from Denmark, a fellow NATO member, a move that has strained relations within the alliance. Despite these internal pressures, Sandvik emphasised that Russia continues to pose the most significant strategic threat to NATO, particularly as it expands its military footprint in the Arctic region.

Norway, which shares an Arctic border with Russia, closely monitors Russian military activity on the Kola Peninsula, home to key nuclear assets and the headquarters of Russia’s Northern Fleet. The fleet’s access route to the North Atlantic via the Barents Sea makes the region strategically critical, reinforcing NATO’s need to maintain focus on Russian military movements in the High North.

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EU Lawmakers Consider Legal Challenge to Mercosur Deal

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EU lawmakers are set to vote on Wednesday whether to refer the European Union’s free trade agreement with Mercosur—comprising Argentina, Brazil, Paraguay, and Uruguay—to the EU Court of Justice. A legal challenge by 144 lawmakers could delay the deal by up to two years and potentially block its implementation. The agreement, the EU’s largest-ever trade pact, still requires approval from member states before taking effect.

Opponents, led by France, argue the deal will increase imports of cheap beef, sugar, and poultry, threatening domestic farmers. The legal challenge seeks a court ruling on whether the pact can be provisionally applied before full ratification and whether it limits the EU’s ability to enforce environmental and consumer health standards. Court opinions typically take around two years to be delivered.

Supporters, including Germany and Spain, stress the pact’s importance in offsetting trade disruptions caused by U.S. tariffs and reducing dependency on China by securing access to critical minerals. They also note that Mercosur governments are growing impatient after decades of negotiations, making timely EU approval crucial.

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Courmayeur Bans Indoor Sparklers After Swiss Fire Tragedy

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The Italian ski resort of Courmayeur has prohibited sparklers and other open flames in enclosed spaces following a deadly New Year’s Eve fire in Switzerland’s Crans-Montana that killed 40 people, including six Italians. Authorities believe the blaze was caused by “fountain candle” sparklers coming too close to the ceiling.

Courmayeur’s town hall announced that the ban applies to all enclosed public venues, while local authorities have stepped up inspections of nightclubs and other public spaces for safety compliance, including fire exits and capacity limits. Several clubs in Rome have already been shut down this month following similar checks.

Mayor Roberto Rota described the ban as “necessary and urgent” given the frequent use of open flames during celebrations, and some officials, including Prime Minister Giorgia Meloni, are considering a nationwide indoor sparkler ban. Ski enthusiasts and residents have largely supported the measure as a proactive safety step.

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EU Pushes for Greater Independence, von der Leyen Says

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European Commission President Ursula von der Leyen told the European Parliament on Wednesday that the EU must accelerate its drive for independence to protect itself in a rapidly changing world. She emphasized that while Europe prefers dialogue, it is ready to act with unity, urgency, and determination if necessary.

Von der Leyen highlighted that Europe needs its own tools of power, including a strong economy, a robust single market, technological innovation, and the capacity to defend itself. She stressed that these elements are crucial for the EU to navigate global challenges effectively.

She also reaffirmed the EU’s focus on Ukraine, while noting plans to strengthen security partnerships with the US and other allies in the Arctic region, underlining the importance of collaboration in a complex geopolitical landscape.

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