European Politics & Markets news from the last 24 hours, AI-curated by PiQ Markets

The European Commission has fined Alibaba's AliExpress €550 million (over $625 million) for failing to adequately address the sale of illegal, counterfeit, and unsafe products on its platform. This marks the largest penalty to date under the Digital Services Act. AliExpress must comply with the commission's demands by an October deadline or face further sanctions. The fine comes amid broader EU concerns about the influx of Chinese advanced manufacturing and e-commerce into the bloc.

Montenegro's €3.2 billion EU accession package is complicating budget talks, potentially setting a precedent for future enlargement funding. Meanwhile, Greece is blocking new EU sanctions against Russia over a ban on liquefied natural gas (LNG) slated for 2027, seeking to allow continued transport of Russian LNG. Separately, France's Foreign Minister suggests Iceland has "nothing to lose" in negotiating EU membership, ahead of a referendum on restarting talks after accession discussions were suspended in 2015.

Andy Burnham officially assumed the role of UK Prime Minister on July 20, taking over from Keir Starmer. His premiership began with immediate challenges, as East Midlands Railway announced a reduction in train services to London on the same day due to ongoing train delays. Concurrently, UK government borrowing figures for June revealed a decrease to £16 billion, a positive sign attributed to increased tax receipts and reduced spending. However, this fiscal improvement does not alleviate the substantial fiscal challenges that Prime Minister Burnham's government faces.

The European Union's proposed reforms to its Emissions Trading System (ETS) are facing criticism from climate experts and environmental groups. The plan includes extending free carbon emission permits until 2038, which critics argue is a 'gift to polluters' and will slow down greenhouse gas emission cuts. Additionally, the EU is considering waiving penalties for methane regulations for three years, a move prompted by industry lobbying, which environmentalists warn could undermine emission reduction efforts.

Germany is adopting a more assertive trade policy toward China, aligning with France's approach, due to the European Union's widening trade deficit with Beijing. This move signals a broader European effort to address economic imbalances and bolster economic security. Meanwhile, a delegation of Czech lawmakers is visiting China, seeking to re-establish dialogue and cooperation amidst previously strained relations.

France is facing a hotter future as record-breaking heatwaves strain its resources and expose structural vulnerabilities in key public services. Cities, hospitals, schools, and care homes are struggling to cope with the increased demand and risks associated with extreme heat. Despite efforts to adapt since the 2003 heatwave, authorities are finding it difficult to allocate sufficient investment for climate resilience due to fiscal limitations, leading to a notable rise in excess deaths during these events.

A federal judge has granted final approval to Anthropic's $1.5 billion settlement, resolving a class-action copyright lawsuit filed by authors. The lawsuit challenged the use of copyrighted material in AI training data. This landmark settlement is now recognized as the largest in U.S. copyright law history, addressing significant concerns over intellectual property rights in the development of artificial intelligence.

A man has died in Bologna, Italy, after an incident involving police during an attempted arrest. The man's death, which occurred while officers were restraining him, has been captured on video. In response to the event, prosecutors have launched an investigation, and street protests have erupted in the city.

The European Parliament has approved new air passenger rights rules designed to enhance passenger protections, improve price transparency, and streamline compensation procedures for flight disruptions. These updated regulations are scheduled to take effect in mid-2027. The changes aim to provide clearer information to travelers and ensure more efficient handling of claims related to canceled or delayed flights.

Germany's Chancellor Friedrich Merz is capitalizing on Jens Spahn's resignation as CDU parliamentary leader. Spahn's exit, stemming from a surrogacy controversy, presents Merz with an opportunity to reshuffle his cabinet and consolidate his political standing. This move comes as the CDU faces critical regional elections, making the timing significant for Merz's consolidation of power within the party and government.

Portugal's government has tightened immigration rules, creating potential labor shortages in the construction sector. This policy shift risks delaying affordable housing projects, which rely heavily on immigrant workers. The move comes amid an ongoing housing crisis, highlighting the tension between immigration control and economic needs.

Governments and cities globally are restricting new data center construction due to the escalating demands of the AI boom. Concerns over electricity consumption, water usage, land availability, and community impact are driving these measures. New York state has implemented a complete moratorium on new data center developments, and Amsterdam has banned new construction until 2030, highlighting a growing trend of regulatory intervention in the sector.

European Commission President Ursula von der Leyen met with Ukraine's new Prime Minister Serhii Koretskyi, pledging continued EU support. The commitment includes backing for reforms, Ukraine's integration into the European Union, and defense cooperation. A key aspect of this support is the recently signed Drone Deal, highlighting ongoing efforts to bolster Ukraine's capabilities.

The European Union has adopted its first-ever declaration on culture, establishing a framework to guide future policy and tackle emerging challenges such as artificial intelligence and disinformation. This significant step coincides with recent employment data indicating a rise in jobs within the EU's cultural sector. The declaration aims to foster a more resilient and innovative cultural landscape across member states.

Britain's EU Relations Minister Nick Thomas-Symonds is departing the government as part of Prime Minister Andy Burnham's reshuffle. Thomas-Symonds, a key figure in managing the UK's post-Brexit relationship with the European Union and leading negotiations, was a close ally of Keir Starmer. His departure signals a potential shift in the UK's approach to EU relations.

A French Parliament committee has advanced a bill that would prohibit social media access for individuals under 15 years old. The proposed legislation also includes a ban on smartphones in high schools. If passed, the measures are intended to be implemented by early September. This move reflects growing concerns about the impact of digital technologies on young people.