EU races to bypass Orbán on Russian assets before summit

The European Union has decided to shorten the exclusivity period for new drugs, allowing cheaper generics to enter the market a year earlier than previously allowed. This move aims to reduce healthcare costs and increase access to medications for patients across the EU.

The European Commission has proposed to exempt AI gigafactories and datacentres from mandatory environmental impact assessments, marking a significant shift in EU environmental policy aimed at accelerating critical project approvals. This proposal is part of a broader initiative to dismantle existing green regulations, which has raised concerns among environmental advocates.

Germany is positioning itself to actively participate in the race for the presidency of the European Central Bank (ECB), a role that has never been held by a German national. This ambition comes amid significant economic challenges facing the country, which has recently been labeled the 'sick man of Europe.'

On Tuesday, the stock market closed lower, with the Dow and S&P 500 both experiencing declines, while the Nasdaq Composite managed a slight increase of 0.1%. The S&P 500 ended the day down 0.09%, reflecting a reversal from earlier gains as concerns about economic conditions persisted. This downturn follows a mixed performance in recent trading sessions, where optimism had been buoyed by strong earnings from tech companies like Nvidia.

Oil futures have experienced a decline for the second consecutive session, driven by ongoing negotiations aimed at resolving the Russia-Ukraine conflict. The market's focus on these diplomatic efforts has raised concerns about the potential impact on oil supply-demand dynamics, which are already expected to loosen in the coming year.

Oil futures have declined for the second consecutive session as the market remains focused on the ongoing efforts to negotiate a peace deal between Russia and Ukraine. This situation has raised concerns about the potential impact on oil supply-demand dynamics, which are expected to loosen in the coming year.

Meta has announced a policy change allowing users in the EU to opt out of personalized ads on Facebook and Instagram, a move aimed at complying with new digital regulations set by Brussels following a significant fine imposed on the company. This decision reflects Meta's efforts to align with evolving regulatory standards in the European market.

Thirteen Labour MPs voted in favor of initiating discussions on the UK potentially rejoining the EU customs union, as part of a bill proposed by the Liberal Democrats. The vote resulted in a tie, with 100 MPs supporting and 100 opposing the measure, highlighting a divided stance on this issue within Parliament.