Von Der Leyen No-Confidence Votes Fail in EU Parliament

The European Commission's recent proposal to cut steel import quotas by 47% and double out-of-quota tariffs to 50% is a significant move aimed at protecting the continent's steel industry from global oversupply and the impact of U.S. trade policies. This decision reflects a proactive approach to safeguard local jobs and production, especially as the U.S. continues to adopt protectionist measures. As President Trump engages with Canada's Prime Minister Mark Carney to negotiate a trade deal, the EU's actions highlight the ongoing global trade tensions and the need for strategic responses.

Metro Bank customers are currently facing payment issues, while the European Commission has proposed a significant 50% tariff on foreign steel imports, which UK unions warn could threaten the domestic steel industry. In a more positive note, Goldman Sachs has raised its gold price forecast for December 2026 to $4,900 per ounce, reflecting recent surges in bullion prices. This news is crucial as it highlights ongoing challenges in the UK steel sector and the potential impact of international trade policies, while also indicating a bullish outlook for gold, which could influence investment strategies.

The European Central Bank's president, Christine Lagarde, has cautioned the European Union against the potential seizure of Russian assets, which are currently frozen. This warning comes in light of the European Commission's proposal to utilize these funds to secure loans for Ukraine. The implications of such actions could be significant, as they may affect international relations and the stability of financial markets, highlighting the delicate balance the EU must maintain in addressing geopolitical tensions while supporting Ukraine.

Shuttle Pharmaceuticals has seen a significant surge in its stock price following the announcement of a letter of intent for an acquisition involving artificial intelligence technology. This move is seen as a strategic step to enhance their product offerings and improve operational efficiency, which could lead to increased market competitiveness. Investors are optimistic about the potential growth and innovation that this acquisition could bring, making it a noteworthy development in the pharmaceutical sector.

BP has successfully won an arbitration case against Venture Global regarding LNG cargoes, marking a significant victory for the company in the competitive energy sector. This outcome not only reinforces BP's position in the liquefied natural gas market but also highlights the importance of legal frameworks in resolving disputes within the industry. Such victories can enhance investor confidence and potentially lead to more favorable business dealings in the future.

Senator Elizabeth Warren is seeking clarity from a hedge fund group about its involvement in the Trump administration's decisions regarding financial support for Argentina during a challenging economic period. This inquiry is significant as it highlights the intersection of politics and finance, raising questions about the influence of private investment firms on government policy and international aid.

Mexico is set to engage in discussions with China and other nations regarding potential tariff increases before finalizing any new legislation. This is significant as it reflects Mexico's proactive approach to trade negotiations and its desire to balance economic interests while navigating complex international relations.

The Trump administration has taken a controversial step by airing a video at airports that blames Democrats for the ongoing government shutdown. This move is significant as it not only seeks to sway public opinion but also highlights the deepening political divide in the country. By using public spaces to convey their message, the administration aims to put pressure on Democrats while rallying support from travelers who may be affected by the shutdown.

LA Times journalists have voted to authorize an open-ended strike, signaling serious discontent over working conditions and contract negotiations. This move highlights the ongoing struggles within the media industry, where journalists are advocating for better pay and job security. The potential strike could disrupt news coverage and impact the flow of information to the public, making it a significant event in the landscape of journalism.