South Africa, EU sign critical minerals deal, vow to defend multilateralism

The G20 summit held in South Africa has adopted a declaration despite a boycott from the United States and opposition from other nations. This summit focused on various global economic issues and aimed to foster international cooperation among member countries.

Walmart has officially launched its first store in South Africa, marking the company's debut on the African continent. This significant expansion reflects Walmart's strategy to tap into new markets and diversify its global presence.

The EU and US are set to resume trade negotiations next week after a two-month hiatus to address unresolved issues related to a controversial tariff deal made in July. High-level talks will take place in Brussels, involving US commerce secretary Howard Lutnick and trade representative Jamieson Greer, along with EU ministers and industry leaders.

The U.S. plan to create joint investment funds involving Russian frozen assets has raised concerns in Brussels, casting doubt on the European Union's financial support for Ukraine. This unexpected move by the Trump administration has blindsided EU officials, who are now reassessing their strategies regarding aid to Ukraine amidst ongoing geopolitical tensions.

Christine Lagarde, president of the European Central Bank (ECB), warned that Europe's economy is increasingly vulnerable due to its reliance on international trade and third countries for security. She emphasized the need for reforms within the EU to stimulate growth, as the bloc's major trading partners have shifted away from the trade that has historically benefited its exporters.

The Liberal Democrats, led by Ed Davey, are pushing for a parliamentary vote to establish a new customs union with the EU. The party argues that this initiative is a more effective way to stimulate economic growth and increase revenue compared to raising taxes. They are urging Labour MPs to support the proposed bill, aiming to shift Labour's stance towards a more pro-EU position.

The EU trade chief is focusing on increasing investment in Australian resources projects. This initiative aims to strengthen economic ties between the European Union and Australia, particularly in the resource sector, which is vital for both regions' economic growth.

The European Union (EU) is currently in communication with X regarding the presence of hate speech content on the platform Grok. This engagement highlights the EU's ongoing efforts to address online hate speech and ensure compliance with regulatory standards.