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Henry Foy

@henryjfoy.ft.com

3.3K followers 270 following 380 posts

Brussels Bureau Chief, Financial Times. Past lives in Moscow, Warsaw, London, Delhi and Mumbai. Get in touch [email protected] https://www.ft.com/henry-foy

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Henry Foy @henryjfoy.ft.com · 3h

Meta and Apple are in the final stages of agreeing a deal with European regulators to change a range of business practices to settle antitrust cases with Brussels, as the US Big Tech groups seek to avoid a series of escalating fines.

Great scoop from @bmoens.bsky.social

on.ft.com/4q7W3d1

Meta and Apple close to settling EU antitrust cases

[FREE TO READ] US Big Tech groups in final stages of agreeing deal with Brussels to avoid series of escalating fines

Henry Foy @henryjfoy.ft.com · 3h

Washington has asked Brussels to scrap requirements for non-EU companies to provide “climate transition plans” and to change supply chain legislation to exclude US companies “with high-quality corporate due diligence”, according to a document seen by @financialtimes.com

on.ft.com/46Ijpye

US demands EU dismantle green regulations in threat to trade deal

[FREE TO READ] Washington wants American companies to be exempted from rules such as having to draw up climate transition plans

Henry Foy @henryjfoy.ft.com · 4h

As Danish Prime Minister Mette Frederiksen said last week:

“On a technical level, [the loan] is quite creative and it's also quite difficult. On a political level, what is the alternative? We have to find a way with financing and if it's not this way then I haven't heard of any [other] such ideas”

Henry Foy @henryjfoy.ft.com · 4h

Since Feb 2022, the Belgian govt has earned billions of tax from Russian assets held at Brussels-based Euroclear

Now the EU wants to loan the cash to Ukraine to save it from bankruptcy, Belgium is resisting & demanding allies put money aside to cover it

That's not gone down well

on.ft.com/3IORCD2

EU pressure builds on Belgium to allow use of Russia’s frozen assets

[FREE TO READ] Belgian Prime Minister Bart De Wever insists other capitals should cover financial and legal risks of €140bn loan

Reposted by Henry Foy

Iikka Korhonen @iikkakorhonen.bsky.social · 9h

[Belgium] has spent three years saying Euroclear is Belgian and so are the benefits,” said one senior EU diplomat involved in talks on the matter. “Now, when it wants to share the risks, it claims Euroclear is European.”
🇧🇪🇪🇺🇺🇸
on.ft.com/4nGTIEj

EU pressure builds on Belgium to allow use of Russia’s frozen assets

Belgian Prime Minister Bart De Wever insists other capitals should cover financial and legal risks of €140bn loan

Henry Foy @henryjfoy.ft.com · 1d

Brussels to curb the travel of Russian diplomats within the EU, in response to a surge in sabotage attempts that intelligence agencies say are led by spies operating under diplomatic cover.

Czech-led initiative backed after Hungary drops its veto. With @andybounds.bsky.social

on.ft.com/46Umr0T

EU to curb Russian diplomats’ travel as suspected spy attacks mount

[FREE TO READ] Intelligence agencies say sabotage operations are often led by spies posing as diplomats

Henry Foy @henryjfoy.ft.com · 3d

'Buy European' coming to EU AI

Brussels' draft Apply AI strategy seen by @bmoens.bsky.social & I aims to “strengthen EU AI sovereignty” & push public procurement towards domestic tech

“External dependencies [of AI]...can be weaponised” it warns, by “state and non-state actors”

on.ft.com/3VPTRcg

EU pushes new AI strategy to reduce tech reliance on US and China

[FREE TO READ] Brussels to unveil plan targeting digital sovereignty as it warns technology can be ‘weaponised’ by geopolitical rivals

Reposted by Henry Foy

Barbara Moens @bmoens.bsky.social · 3d

The EU wants to reduce its tech reliance on US and China via a new Apply AI strategy, seen by the Financial Times, which promotes digital sovereignty.

The bloc warns AI can otherwise be “weaponised” by rivals.

With @henryjfoy.ft.com

on.ft.com/3WkfSjs

EU pushes new AI strategy to reduce tech reliance on US and China

[FREE TO READ] Brussels to unveil plan targeting digital sovereignty as it warns technology can be ‘weaponised’ by geopolitical rivals

Henry Foy @henryjfoy.ft.com · 5d

Luxembourg’s Grand Duke Henri abdicates in favour of his son, as 43-year-old Guillaume is sworn in as head of the world’s last remaining grand duchy

Finally some proper reporting from the FT's European Royal Family Correspondent, @bmoens.bsky.social

on.ft.com/4gQkaZf

Luxembourg’s Grand Duke abdicates in favour of son

[FREE TO READ] 43-year-old Guillaume sworn in as head of world’s last remaining grand duchy

Henry Foy @henryjfoy.ft.com · 5d

Opposition to the move from capitals that don’t want to reward the oligarch or endorse Russian court rulings could stymie efforts to pass the EU’s next package of sanctions against Moscow

Scoop with @lauramdubois.ft.com & @mjruehl.bsky.social

on.ft.com/4o7M3i9

EU plans to hand Deripaska-linked assets to Raiffeisen

[FREE TO READ] Some European officials worry lifting sanctions would bolster Russian retaliation against western companies

Henry Foy @henryjfoy.ft.com · 6d

Zelenskyy speaking at EPC in Copenhagen on drones, Russia and European security.

Spot the Lego flowers he was gifted in the foreground

Henry Foy @henryjfoy.ft.com · 6d

This is a terrific story about a Polish hotel chain offering perks to couples who conceive in its properties in a bid to help the country's dire fertility rate.

But I just can't get past the idea of *this guy* explaining the terms of the offer to excited couples...

on.ft.com/3KC5dhr

Henry Foy @henryjfoy.ft.com · 7d

Plus more from Mette in today’s @financialtimes.com Europe Express:

“We’re now in the most difficult situation in Europe since the end of the second world war… Our security & of course our freedom is under threat”

“I have to say to all colleagues that we are running out of time”

on.ft.com/4mGZXXe

Denmark’s Frederiksen warns EU ‘running out of time’ to meet Russian threat

[FREE TO READ] Also in this newsletter: EU public prosecutor discovers ‘continent of crime’

Henry Foy @henryjfoy.ft.com · 7d

💥 Russia’s hybrid war “only the beginning,” 🇩🇰 PM Frederiksen warns, calling on Nato to step up to deter Moscow.

As EU leaders arrive for talks in Copenhagen, she tells @richardmilne.ft.com & I: “We need all Europeans to understand what is at stake… the idea is to divide us”

on.ft.com/48Oc6pQ

Russia’s hybrid war is ‘only the beginning’, warns Danish PM

[FREE TO READ] Mette Frederiksen says Nato needs to adjust its response to Russian provocations

Henry Foy @henryjfoy.ft.com · 8d

EU seeks France’s backing over proposed €140bn loan for Ukraine backed by frozen Russian assets, as Paris raises concerns over impact on highly indebted balance sheets, ‘Buy European’ provisions and Kyiv oversight

by @paolatamma.bsky.social & @labboudles.bsky.social

on.ft.com/42luH8R

EU seeks France’s backing over €140bn loan for Ukraine

[FREE TO READ] Paris and other highly indebted capitals are wary of approving use of Russian frozen assets

Henry Foy @henryjfoy.ft.com · 8d

Brussels seeks to convert Europe’s savers into investors, wants countries to offer tax incentives to EU households who put their cash into stocks

@paolatamma.bsky.social has the goods:

on.ft.com/488f0FS

Brussels seeks to convert Europe’s savers into investors

[FREE TO READ] Commission wants countries to offer tax incentives to EU households who put their cash into stocks

Henry Foy @henryjfoy.ft.com · 8d

While others debate the merits of a legalistic change to voting procedures to get around Orban’s veto on starting Ukraine’s technical accession talks, the commission has another idea:

Ignore Hungary and just get on with it

Barbara Moens @bmoens.bsky.social · 8d

The EU is preparing to start technical work on Ukraine and Moldova joining the bloc despite Hungary’s blockade of advancing accession talks, according to officials briefed on the process.

With @henryjfoy.ft.com @benhallnews.bsky.social @christopherjm.ft.com

on.ft.com/3IGHwnE

EU moves to advance Ukraine’s accession by sidestepping Hungary

[FREE TO READ] Brussels advises Kyiv to advance technical work despite Budapest holding up talks

Reposted by Henry Foy

Barbara Moens @bmoens.bsky.social · 8d

The EU is preparing to start technical work on Ukraine and Moldova joining the bloc despite Hungary’s blockade of advancing accession talks, according to officials briefed on the process.

With @henryjfoy.ft.com @benhallnews.bsky.social @christopherjm.ft.com

on.ft.com/3IGHwnE

EU moves to advance Ukraine’s accession by sidestepping Hungary

[FREE TO READ] Brussels advises Kyiv to advance technical work despite Budapest holding up talks

Henry Foy @henryjfoy.ft.com · 9d

Moldova’s pro-EU party defies colossal wave of Russian interference to win majority of votes in parliamentary election, eyeing second term in power.

All the details in today’s Europe Express

on.ft.com/4gI8zLO

@financialtimes.com

Moldova’s pro-EU party defies wave of Russian pressure to storm election

[FREE TO READ] Also in this newsletter: Be bold on chips, Brussels told

Reposted by Henry Foy

Center for European Policy Analysis @cepa.org · 9d

"If Russia can bend Moldova to its will, it will embolden similar campaigns elsewhere. Conversely, if Moldova resists, it will show that even small, vulnerable states can withstand Moscow’s playbook with the right support." Kateryna Odarchenko

Moldova’s Voters and the Russian Bear Paw

Moldovans are preparing for an election that will determine their future in Europe amid “unprecedented” Russian interference. Can they resist?

Henry Foy @henryjfoy.ft.com · 10d

Puzder said the US would make formal submissions to Brussels under an ongoing review of the EU’s digital laws, “to have some discussions about where the real points of disagreement are and how they can be addressed”

“I think we’re going to need to sit down and go through these acts with some care.”

Henry Foy @henryjfoy.ft.com · 10d

Prove your rules don’t target US tech or fix them, Trump’s ambassador to Brussels warns EU

“Obviously, if we’re going to have a good relationship going forward, you can’t have legislation that punishes... your ally,” Andrew Puzder tells @financialtimes.com

w @bmoens.bsky.social

on.ft.com/4nUQVXH

Brussels told to prove digital rules do not ‘punish’ US tech or fix them

[FREE TO READ] Donald Trump’s ambassador to EU says no US president can ‘allow these kinds of infringements’ on American companies

Henry Foy @henryjfoy.ft.com · 11d

Cmmr @andriuskubilius.ec.europa.eu tells @financialtimes.com that Brussels will provide “financial and industrial assistance” to countries after agreeing a “common approach” to the threat.

“It is very clear that our capabilities to detect drones are not at that level which we need," he added.

Financial Times @financialtimes.com · 11d

EU ‘drone wall’ to protect entire continent, says defence chief on.ft.com/3KHT62j

EU ‘drone wall’ to protect entire continent, says defence chief

Europe aims for interlinked defences after spate of Russian airspace violations

Henry Foy @henryjfoy.ft.com · 15d

(Another) big digital EU-US scoop from @bmoens.bsky.social

EU targets Apple, Google and Microsoft over online financial scams, as Brussels probes US Big Tech groups and Booking Holdings over handling of fake apps and search results - despite Trump's ire at EU tech regulation

on.ft.com/46OYxoJ

EU targets Apple, Google and Microsoft over online financial scams

[FREE TO READ] Brussels to look closer into US Big Tech groups and Booking Holdings over handling of fake apps and search results

Henry Foy @henryjfoy.ft.com · 15d

EU agrees to delay landmark deforestation rules - as anyone who reads @andybounds.bsky.social & @alicemhancock.bsky.social in the @financialtimes.com already knew six hours ago

on.ft.com/48wF3Xl

EU weighs delaying ban on imports linked to deforestation

[FREE TO READ] Trading partners, including the US, and member states are pressuring Brussels to postpone climate law for a second time