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Italy Cuts Growth Forecast, Sees Economy Expanding 0.7% Through 2027

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Italy’s national statistics bureau ISTAT has slightly lowered its economic growth forecast for 2026, projecting gross domestic product (GDP) growth of 0.7%, down from the 0.8% estimate issued in December. The agency also expects the economy to expand by 0.7% in 2027, supported by stronger-than-expected performance in the first quarter, when GDP rose 0.3% from the previous three months.

Despite the downgrade, ISTAT’s outlook remains somewhat more optimistic than forecasts from the European Commission, IMF, OECD and the Bank of Italy, all of which expect growth between 0.5% and 0.6% over the next two years. Prime Minister Giorgia Meloni’s government also revised its projections lower in April, citing rising energy costs and ongoing tensions in the Middle East.

ISTAT warned that geopolitical uncertainty continues to pose risks to the economy, particularly developments related to the conflict in the Middle East. The statistics bureau also improved its labour market outlook, forecasting an average unemployment rate of 5.5% this year and in 2027, lower than its previous estimate of 6.1%. Italy’s economy grew 0.5% in 2025, marking a third consecutive year of growth below 1%.

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Norway’s Crown Princess Awaits Urgent Lung Transplant

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Norway’s Crown Princess Mette-Marit has been placed on the national waiting list for a lung transplant after her health condition worsened, the royal household announced on Friday. The 52-year-old royal, who was diagnosed with pulmonary fibrosis in 2018, is suffering from a chronic lung disease that causes scarring of the lungs and reduces the body’s ability to absorb oxygen.

According to Oslo University Hospital, the progression of the disease has become serious enough that a transplant is now required as soon as possible. Crown Prince Haakon recently cut short an official visit to Japan to return home, while their daughter, Princess Ingrid Alexandra, also travelled back to Norway from Australia following the latest health developments.

The royal family has postponed celebrations marking the couple’s 25th wedding anniversary, which had been scheduled for August. Prime Minister Jonas Gahr Stoere praised Mette-Marit for openly discussing her illness over the years, saying her transparency has helped raise awareness for others living with similar health challenges.

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German Carmakers Face Mounting Pressure Amid Global Auto Industry Shift

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German automakers are losing momentum as global rivals gain ground, according to a new EY analysis. While major automotive groups worldwide posted a 2% increase in first-quarter revenue, German manufacturers recorded a 4% decline, reflecting growing challenges in key international markets.

Industry experts point to a combination of factors behind the downturn, including trade tariffs, geopolitical tensions, weakening demand in the United States and China, and the rapid pace of technological change. German carmakers are also grappling with high software development costs, excess production capacity, and a slower-than-expected transition to electric vehicles.

The outlook remains challenging as rising fuel prices and inflation, fueled in part by geopolitical uncertainty, threaten consumer demand across Europe. EY warned that the sector’s structural transformation is far from over, with 2026 likely to remain a difficult year for Germany’s automotive industry.

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French Billionaire Defends Conservative Push Ahead of Election

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French billionaire Pierre-Edouard Sterin used his first appearance before lawmakers to openly defend his efforts to promote free-market and conservative ideas in France ahead of the 2027 presidential election. Appearing before a Senate inquiry into political financing, Sterin described his project as a long-term campaign to influence public debate and support right-wing policies.

Sterin denied any wrongdoing and said his organisation, Pericles, operates within the law. The Senate investigation is examining whether the billionaire’s network of charities, think tanks, and advocacy groups complies with political finance regulations. He said the objective is to expand the influence of conservative economic and social ideas across France.

The entrepreneur also reiterated his hardline views on immigration, supporting the deportation of foreign criminals, undocumented migrants, and long-term unemployed migrants. Sterin, who moved to Belgium in 2012 during former President François Hollande’s administration, said lower taxes abroad allowed him to devote more money to charitable projects in France.

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Bayeux Tapestry Set for Historic Return to Britain After 950 Years

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The 950-year-old Bayeux Tapestry is set to make a rare journey from France to London next month, where it will be displayed at the British Museum for nine months. French officials say extensive preparations have ensured the fragile artwork can travel safely, using a specially designed double-crate system with shock absorbers to protect it during transit.

The tapestry, which tells the story of the Norman conquest of England in 1066, will travel by road and through the Channel Tunnel under strict security measures. Conservation experts conducted multiple test runs and reported that the transport system reduces vibrations by up to 96%, making the journey as safe as possible for the historic embroidery.

Despite concerns from some art specialists about potential risks, French authorities remain confident in the plan. The loan, announced by French President Emmanuel Macron in 2025, is intended to strengthen ties between France and the UK. In exchange, Britain will send several historic treasures, including the Lewis Chessmen and Sutton Hoo artefacts, for exhibition in Normandy.

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EU Clears First Step for Ukraine and Moldova Membership Talks

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All 27 European Union member states have agreed to open negotiations with Ukraine and Moldova on the first cluster of issues in their accession process, marking a key milestone in their path toward EU membership. Ukrainian Prime Minister Yulia Svyrydenko welcomed the decision, calling it a significant step closer to joining the bloc.

Cyprus, which currently holds the rotating EU presidency, confirmed preparations are underway to formally launch talks covering rule-of-law reforms, democratic standards, and governance. The presidency described the move as a strong signal of EU unity and commitment to the European integration of both countries.

The breakthrough follows an agreement between Hungary and Ukraine regarding the rights of Ukraine’s Hungarian minority, an issue that had previously delayed progress. Ukraine and Moldova have been pursuing EU membership amid ongoing regional security challenges and their efforts to strengthen ties with Europe.

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Chile-DR Congo Friendly Called Off as Ebola Outbreak Triggers Health Concerns

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A planned international friendly between DR Congo and Chile in Spain has been cancelled after local authorities raised concerns over the ongoing Ebola outbreak in eastern DR Congo. The mayor of La Linea de la Concepcion signed a decree preventing the match from taking place on 9 June, citing recommendations from regional and municipal health officials as a precautionary measure.

Although DR Congo’s squad is currently training in Belgium and consists largely of players based outside the country, authorities expressed concerns over support staff and fans who have recently travelled from the affected region. The team had already cancelled a planned training camp in Kinshasa due to the outbreak and remains scheduled to play Denmark in a friendly match in Liege.

The Ebola outbreak, caused by the rare Bundibugyo strain, has prompted international travel restrictions, including entry bans by the United States for certain travellers from DR Congo and neighbouring countries. Despite the disruption, DR Congo is continuing preparations for its first FIFA World Cup appearance since 1974, with group-stage matches scheduled in the United States and Mexico later this month.

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Inditex Defies Consumer Slowdown as Zara Delivers Robust Early Summer Growth

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Zara owner Inditex has reassured investors with a strong start to the summer season, reporting currency-adjusted sales growth of 11.5% in May, well above analysts’ expectations of 8%. The performance comes despite weaker consumer confidence and economic uncertainty linked to rising inflation concerns and geopolitical tensions. The retailer’s shares climbed as much as 5% following the announcement.

During the February-to-April quarter, Inditex recorded sales of €8.75 billion, representing an 8.8% increase on a currency-adjusted basis. The company also improved profitability, with gross margin rising to 61.2% from 60.6% a year earlier. Executives said the group has successfully adapted its supply chain to manage disruptions in global shipping and transportation caused by the ongoing conflict in the Middle East.

Inditex remains optimistic about future growth, particularly in the United States, its second-largest market after Spain. The company said sales growth is being driven mainly by higher product volumes rather than price increases, while investments in larger stores and strategic expansions continue to attract customers. Inditex maintained its full-year outlook, including stable gross margins, a 5% increase in retail space, and capital expenditure of €2.3 billion.

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Germany Grants Record Citizenship as Syrians Remain Largest Group

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Germany granted citizenship to a record 332,500 people in 2025, marking a 14% increase from the previous year. Syrians remained the largest group of new citizens for the fifth consecutive year, accounting for one in every five naturalisations, although the number of Syrians receiving citizenship declined compared to 2024.

The rise in naturalisations was largely driven by reforms introduced in June 2024, which reduced the residency requirement for citizenship from eight years to five and allowed dual citizenship. Many Syrians who arrived during the refugee influx of 2015 and 2016 became eligible under the revised rules.

After Syrians, the largest groups gaining German citizenship were Turkish and Russian nationals. Significant increases were also recorded among citizens from Bosnia, the United States, and Albania. Additionally, Germany saw a sharp rise in citizenship restorations for individuals and descendants of those stripped of their nationality under Nazi rule, reflecting continued efforts to address historical injustices.

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Spain Records Hottest May Sea Temperatures on Record

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Spain recorded its highest-ever sea temperatures for May across much of its coastline, with data from the country’s port authority showing unprecedented readings at most deep-water and coastal monitoring stations. The unusually warm waters affected large areas of the Mediterranean and surrounding seas during the month.

According to Spain’s weather agency, the record temperatures are primarily linked to long-term human-driven climate change rather than the expected development of El Niño. Officials noted that extreme heat records have become increasingly common in recent years, reflecting a broader trend of rising global temperatures.

While the United Nations has forecast the possible arrival of a moderate to strong El Niño later this year, experts said May’s marine heatwave occurred independently of the Pacific climate pattern. However, the combination of warming oceans and a potential El Niño event could contribute to higher global temperatures in the months ahead.

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