Tariffs and energy squeeze Main Street
The US economy is leaving small businesses behind, according to a New York Times report. Small businesses say tariffs and higher energy prices have drained their resilience, with many struggling to stay afloat. Community bankers told Politico they feel sidelined as Trump's regulators focus on crypto-friendly policies rather than traditional banking relief.
EU crafts CO2 permit relief
In Europe, the European Union is crafting a plan to give industries extra free CO2 permits this year, according to diplomats. The move comes as high French river temperatures are expected to limit nuclear power output, compounding energy supply pressures across the continent.
Steel industry warns on green transition
The global steel industry sounded the alarm over slow progress on green steel at an annual meeting in Singapore. Delays to green steel projects are growing and government support is far short of what is needed, steel associations warned, jeopardizing the sector's drive to cut emissions.