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Donald Trump’s political war chest grew dramatically in the second half of 2025, according to new campaign finance disclosures submitted late Saturday, giving him an unprecedented amount of money for a term-limited president to influence the midterms and beyond. Trump raised $26 million through his joint fundraising committee in the back half of last year, and another $8 million directly into his leadership PAC. And a super PAC linked to him has more than $300 million in the bank. All together, a web of campaign accounts, some of which he controls directly and others under the care of close allies, within the president’s orbit have $375 million in their coffers. The funds far outstrip those of any other political figure — Republican or Democrat — entering 2026, and have no real historical precedent. And Trump could put them to use this year for the midterms, or to shape future elections, even as he cannot run for president again. Trump continues to outpace any other Republican in raising money, both from large and small-dollar donors. His joint fundraising committee — Trump National Committee, which pools fundraising for a variety of Trump-aligned groups — accounted for 1 in 8 dollars raised on WinRed, the primary Republican online fundraising platform, during the second half of 2025, according to a POLITICO analysis. And no super PAC raised even half as much in 2025 as the $289 million from MAGA Inc., the Trump-aligned super PAC that both the president and Vice President J.D. Vance appeared at fundraisers for last year. Trump has given few clues as to how he might put the funds to use. Trump National Committee primarily sends funds to the president’s leadership PAC, Never Surrender, with a bit of money also going to the Republican National Committee and Vance’s leadership PAC, Working For Ohio. Candidates cannot use leadership PAC money for their own election efforts. But the accounts — which are common across Washington and have long been derided by anti-money in politics groups as “slush funds” — allow politicians to dole out money to allies or fund political travel. Never Surrender spent $6.7 million from July through December, with more than half of that total going toward advertising, digital consulting and direct mail — expenses typically linked to fundraising. So far, Trump’s groups have held their powder in Republican primaries. While Trump has endorsed against a handful of Republican incumbents now locked in competitive primaries — including Sen. Bill Cassidy of Louisiana and Rep. Thomas Massie of Kentucky — and threatened others, he hasn’t used money. A super PAC targeting Massie, MAGA KY, is run by Trump allies but has largely been funded by GOP megadonor Paul Singer. MAGA Inc.’s only election-related spending last year was to boost now-Rep. Matt Van Epps in the special election in Tennessee’s 7th District. Trump’s massive war chest makes him a political force, independent of the traditional party infrastructure. The RNC — which derives a significant portion of its fundraising from Trump — had $95 million in the bank at the end of the year, roughly a quarter of what the Trump-linked groups have. And their rivals at the Democratic National Committee are far worse off — at just over $14 million, while owing more than $17 million in debt.

The center-right European People’s Party is eyeing “better implementation” of the Lisbon Treaty to better prepare the EU for what it sees as historic shifts in the global balance of power involving the U.S., China and Russia, EPP leader Manfred Weber said on Saturday. Speaking at a press conference on the second day of an EPP Leaders Retreat in Zagreb, Weber highlighted the possibility of broadening the use of qualified majority voting in EU decision-making and developing a practical plan for military response if a member state is attacked. Currently EU leaders can use qualified majority voting on most legislative proposals, from energy and climate issues to research and innovation. But common foreign and security policy, EU finances and membership issues, among other areas, need a unified majority. This means that on issues such as sanctions against Russia, one country can block agreement, as happened last summer when Slovakian Prime Minister Robert Fico vetoed a package of EU measures against Moscow — a veto that was eventually lifted. Such power in one country’s hands is something that the EPP would like to change.  As for military solidarity, Article 42.7 of the Lisbon Treaty obliges countries to provide “aid and assistance by all the means in their power” if an EU country is attacked. For Weber, the formulation under European law is stronger than NATO’s Article 5 collective defense commitment. However, he stressed that the EU still lacks a clear operational plan for how the clause would work in practice. Article 42.7 was previously used when France requested that other EU countries make additional contributions to the fight against terrorism, following the Paris terrorist attacks in November 2015.  Such ideas were presented as the party with a biggest grouping in the European Parliament — and therefore the power to shape EU political priorities — presented its strategic focus for 2026, with competitiveness as its main priority.  Keeping the pulse on what matters in 2026  The EPP wants to unleash the bloc’s competitiveness through further cutting red tape, “completing” the EU single market, diversifying supply chains, protecting economic independence and security and promoting innovation including in AI, chips and biotech, among other actions, according to its list 2026 priorities unveiled on Saturday. On defense, the EPP is pushing for a “360-degree” security approach to safeguard Europe against growing geopolitical threats, “addressing state and non-state threats from all directions,” according to the document. The EPP is calling for enhanced European defense capabilities, including a stronger defense market, joint procurement of military equipment, and new strategic initiatives to boost readiness. The party also stressed the need for better protection against cyberattacks and hybrid threats, and robust measures to counter disinformation campaigns targeting EU institutions and societies. On migration and border security, the EPP backs tougher asylum admissibility rules, faster returns, and strengthened external borders, including reinforced Frontex operations and improved digital systems like the Entry/Exit System.  The party also urged a Demographic Strategy for Europe amid the continent’s shrinking and aging population. The text, initiated by Croatian Democratic Union (HDZ), member of the EPP, wants to see demographic considerations integrated into EU economic governance, cohesion funds, and policymaking, while boosting family support, intergenerational solidarity, labor participation, skills development, mobility and managed immigration.  Demographic change is “the most important issue, which is not really intensively discussed in the public discourse,” Weber said. “That’s why we want to highlight this, we want to underline the importance.” 

The Netherlands’ incoming government wants to push Europe toward a tighter intelligence-sharing club — including what it calls a potential “European equivalent” of the Five Eyes alliance — as part of a broader overhaul of its security services. The new coalition argues, in its governing plans published Friday, that rising threats require faster and more proactive intelligence agencies while preserving the country’s tradition of operating under strict rule-of-law safeguards. The proposals include boosting funding and digital infrastructure for the civilian intelligence agency (AIVD) and military intelligence service (MIVD), and strengthening the role of the national counterterrorism coordinator. At the European level, The Hague says it wants to intensify cooperation with a core group of like-minded countries, explicitly floating a continent-wide version of the “Five Eyes” intelligence partnership (which is made up of Australia, Canada, New Zealand, the U.K., and the U.S.). In October, the heads of the two Dutch agencies announced they would stop sharing certain information with their U.S. counterparts, citing political interference and human rights concerns. Instead they would look at increasing cooperation with other European services, like the U.K., Poland, France, Germany and the Nordic countries. Domestically, the government plans to fast-track a revamped Intelligence and Security Services Act, rewriting the law to focus on threats rather than specific investigative tools and making it “technology-neutral” so agencies are not outpaced by innovation. Supervisory bodies would be merged to provide streamlined, but legally robust, oversight. The agenda also calls for expanding the operational research capacity of Dutch intelligence services to help build Europe’s “strategic autonomy,” while deepening ties with tech firms and recruiting top technical talent.

BRUSSELS — France is hurtling toward a ban for children younger than 15 to access social media — a move that would see it become only the second country in the world to take that step. The plan comes amid rising concerns about the impacts of apps including Snapchat, TikTok, Instagram and X on children’s mental health. After Australia in December kicked kids under 16 off a host of platforms, France is leading the charge in Europe with a bill that would prohibit social media for under-15s as soon as this year. Supported by President Emmanuel Macron and his centrist Renaissance party, the proposed law passed the French parliament’s lower chamber in the early hours of Tuesday. Here are 5 things to know. WHEN WILL A BAN KICK IN? While the timing isn’t finalized, the government is targeting September of this year. “As of September 1st, our children and adolescents will finally be protected. I will see to it,” Macron said in an X post. The bill now has to be voted on by the French Senate, and Macron’s governing coalition is aiming for a discussion on Feb. 16. If the Senate votes the bill through, a joint committee with representatives of both upper and lower houses of parliament will be formed to finalize the text. WHICH PLATFORMS WILL BE BANNED? That decision will lie with France’s media authority Arcom, since the legislation itself doesn’t outline which platforms will or won’t be covered. The architect of the bill, Renaissance lawmaker Laure Miller, has said it will be similar to Australia’s and would likely see under-15s banned from using Snapchat, TikTok, Instagram and X. Australia no longer allows children under 16 to create accounts on Facebook, Instagram, Kick, Reddit, Snapchat, Threads, TikTok, Twitch, X and YouTube. Australia’s list doesn’t include Discord, GitHub, Google Classroom, LEGO Play, Messenger, Pinterest, Roblox, Steam and Steam Chat, WhatsApp or YouTube Kids. Miller has also described plans to come up with a definition that could see the ban cover individual features on social media platforms. WhatsApp Stories and Channels — a feature of the popular messaging app — could be included, as well as the online chat within the gaming platform Roblox, the French MP said. WHO WILL ENFORCE IT? With France set to be the first country within the European Union to take this step, a major sticking point as the bill moves through parliament has been who will enforce it. Authorities have finally settled on an answer: Brussels. The EU has comprehensive social media rules, the Digital Services Act, which on paper prohibits countries from giving big platforms additional obligations. After some back and forth between France and the European Commission, they have come to an agreement. France can’t give more obligations to platforms but it can set a minimum age on accessing social media. It will then be up to the Commission to ensure national rules are followed. This is similar to how other parts of the DSA work, such as illegal content. Exactly what is illegal content is determined by national law, and the Commission must then make sure that platforms are properly assessing and mitigating the risks of spreading it. How exactly the EU will make sure no children in France are accessing sites is untested. DSA violations can lead to fines of up to 6 percent of platforms’ annual global revenue. WHAT ARE THE TECHNICAL CHALLENGES? Companies within the industry have been at loggerheads over who should implement age gates that would render the social media ban possible. Platform providers including Meta say that operating system services should implement age checks, whereas OS and app store providers such as Apple say the opposite. The Commission has not clearly prescribed responsibility to either side of the industry, but France has interpreted guidance from Brussels as putting the onus on the service providers. France’s bill therefore puts the responsibility on the likes of TikTok and Instagram. Exactly what the technical solution will be to implement a ban is up to the platforms, as long as it meets requirements for accuracy and privacy. Some public entities have developed solutions, like the French postal service’s “Jeprouvemonage,” which the platforms can use. Privately developed tech is also available. “No solution will be imposed on the platforms by the state,” the office of the minister for digital affairs told journalists.  IS THIS HAPPENING IN OTHER EUROPEAN COUNTRIES? France is not the only European country working on such restrictions. Denmark’s parliament agreed on restrictions for under-15s, although parents can allow them to go on social media if they are older than 13. Denmark hasn’t passed a formal bill. Austria’s digital minister said an Australia-style ban is being developed for under-14s. Bills are going through the Spanish and Italian parliaments, and Greece’s Prime Minister Kyriakos Mitsotakis has also voiced support for similar plans. Germany is considering its options. The Dutch government has issued guidance to say kids younger than 15 should not access social media like TikTok. Many of these countries as well as the European Parliament have said they want something done at the EU level. While the Commission has said it will allow EU countries to set their own minimum ages for accessing social media, it is also trying to come up with measures that would apply across the entire bloc. President Ursula von der Leyen has been personally paying attention to this issue and is setting up a panel of experts to figure out if an EU-wide ban is desirable and tenable.

January 2026 I GB-73006 Disclaimer  POLITICAL ADVERTISEMENT  * This is sponsored content from AstraZeneca.  * The advertisement is linked to public policy debates on the future of cardiovascular care in the UK.  * This content has been paid for and developed by AstraZeneca UK  Cardiovascular disease (CVD) has shaped the nation’s health for generations. It remains a leading cause of death and a major driver of long-term sickness, yet it is also one of the most preventable. Today, 8 million people in the U.K. live with CVD, and early deaths from CVD in England have reached a 14-year high.1,2 The reality is stark: without urgent action, one million more could live with CVD by 2030 — and two million by 2040.1  Tackling CVD is not only a moral imperative, it’s an economic necessity. In the U.K., 2.5 million working-age people are economically inactive due to long-term sickness, and CVD contributes to long-term sickness at unprecedented levels3 Each year, CVD costs the U.K. economy an estimated £24 billion, straining public finances, dampening productivity and widening inequalities.4  In July 2023, AstraZeneca convened the CVD-risk coalition — with charities, clinical organizations and patient groups — to shape a coordinated response to these trends.   Today, the coalition has published Getting to the heart of the matter: A national action plan for tackling cardiovascular disease5 — a blueprint for decisive action and a call for the government and the NHS to confront CVD head on. It has a clear message: the tools exist to tackle this challenge, but we need leadership, investment, and a focus on prevention and early intervention to unlock meaningful change.  > the tools exist to tackle this challenge, but we need leadership, investment, > and a focus on prevention and early intervention to unlock meaningful change. Diagnosis and prevention gaps we cannot afford   CVD often arises from detectable and treatable conditions: hypertension, high cholesterol, diabetes, chronic kidney disease. Yet millions remain undiagnosed. Six million people in the U.K. don’t know they have high blood pressure — a silent driver of heart attacks, strokes and kidney disease.6,7   This systemic diagnosis gap is not the result of a lack of evidence or clinical consensus; rather, the longstanding pressure on primary and community care, fragmentation across services, and declining investment in public health. Between 2015/16 and 2023/24, funding for key preventative services — including smoking cessation and adult obesity support — fell sharply in real terms.8  Additionally, secondary prevention remains patchy across England. Despite clear treatment guidance from NICE, less than half of patients with CVD meet recommended cholesterol levels. Almost 30 percent of hypertension patients are not meeting recommended blood pressure targets or don’t have a recent blood pressure measurement in their records.9   The consequences are clear: progress on CVD outcomes has stalled, premature deaths are rising and those in England’s most deprived areas are four times more likely to die prematurely from CVD than those in the least deprived.10  > progress on CVD outcomes has stalled, premature deaths are rising and those in > England’s most deprived areas are four times more likely to die prematurely > from CVD than those in the least deprived We must place prevention at the heart of our health system.  A vision for proactive, personalized cardiovascular care  Early CVD prevention and treatment save lives and money. It benefits patients, reduces NHS pressure and strengthens the UK’s economic resilience.   A 20 percent reduction in CVD incidence could save the NHS £1.1 billion annually within five years and place 60-70,000 more people into work.11 Recent CVDACTION modeling suggests that even modest near-term improvements in treatment could prevent approximately 61,000 events of heart attack, stroke, heart failure admission and end-stage kidney disease in three years.12   This is not theoretical. We know what integrated, proactive models can do.   Unlocking the power of data and digital tools  Platforms like CVDPREVENT and CVDACTION already demonstrate how data-driven insights from GP records can flag undiagnosed or undertreated patients — enabling clinicians to prioritize, optimize treatment and thus prevent avoidable heart attacks and strokes every year.13,14  Additionally, as the NHS App becomes a digital ‘front door’, there is an opportunity to deliver personalized risk information, lifestyle guidance and seamless access to services.  But digital transformation requires investment in workforce capability, interoperability between systems and national procurement frameworks that can scale at pace.  Tom Keith Roach A neighborhood approach to prevention  Joined-up neighborhood services — across community pharmacies, general practice, specialist teams and local authorities — could identify risk earlier, manage long-term conditions holistically and reduce avoidable admissions.   Community pharmacy hypertension screening has delivered over two million blood pressure checks in a single year, identifying thousands previously unaware of their risk.15    The LUCID program, developed as part of a joint working initiative between AstraZeneca and University Hospitals Leicester, has shown that integrated care across nephrology specialists and primary care can identify high-risk chronic kidney disease patients and optimize their treatment, reducing emergency admissions and long-term NHS costs.16    But to truly deliver change, resources must be rebalanced toward primary and community care. Cardiovascular prevention cannot be driven from hospitals alone. The neighborhood service must be properly resourced, with contracts and incentives aligned to prevention and outcomes, not activity.  A whole-system effort to transform lives and the economy  The forthcoming Modern Service Framework for CVD, promised within the Government’s 10 Year Health Plan, presents a critical opportunity. This framework must: * Embed prevention into every level of care  * Enable earlier diagnosis using digital and community-based tools  * Support optimal treatment through data and workforce innovation  * Define clear national priorities backed by accountability  CVD is a health challenge and a national prosperity challenge. We cannot afford rising sickness, worsening inequalities, and an NHS stretched by late-stage, preventable disease. The link between health and wealth has never been clearer: investing in CVD prevention will deliver both immediate and long-term returns.  > The link between health and wealth has never been clearer: investing in CVD > prevention will deliver both immediate and long-term returns. The action plan published today provides a clear, evidence-based roadmap.5 It calls for:  * National clinical and political leadership  * Ambitious targets, including a 20 percent reduction in incidence  * Investment in prevention and the expansion of Health Checks  * Improved uptake of effective treatments, guided by data  * Digital and diagnostic excellence across neighborhoods  * Partnership working at every level  A call to action  CVD has affected too many lives for too long. But progress is within reach. The decisions we make today will determine whether the next decade is defined by a widening crisis or a renewed national effort to prevent avoidable illness.  AstraZeneca stands ready to support the government, the NHS and partners to deliver the change our country needs. The time to act is now.  Find out more at astrazeneca.co.uk   References [1] British Heart Foundation. UK factsheet. January 2026. Available at: https://www.bhf.org.uk/-/media/files/for-professionals/research/heart-statistics/bhf-cvd-statistics-uk-factsheet-jan26.pdf.Last accessed: January 2026. [2] British Medical Journal. Early deaths from cardiovascular disease reach 14 year high in England. British Medical Journal. January 2024. Available at: https://www.bmj.com/content/384/bmj.q176. Last accessed: December 2025.   [3] Rising ill-health and economic inactivity because of long-term sickness, UK: 2019 to 2023. Office for National Statistics. Available at: https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/economicinactivity/articles/risingillhealthandeconomicinactivitybecauseoflongtermsicknessuk/2019to2023. Last accessed: December 2025.   [4] UK Government. UIN HL5942. March 2025. Available at: https://questions-statements.parliament.uk/written-questions/detail/2025-03-18/hl5942. Last accessed: December 2025. [5] Getting to the heart of the matter. A national action plan for tackling cardiovascular disease. AstraZeneca. 2025. Available at: https://qr.short.az/r/Getting-to-the-heart-of-the-matter. Last accessed: January 2026. [6] Blood Pressure UK. Why is know your numbers! needed?. Available at: https://www.bloodpressureuk.org/know-your-numbers/why-is-know-your-numbers-needed/. Last accessed: December 2025.   [7] Department of Health and Social Care. Get your blood pressure checked. March 2024. Available at: https://www.gov.uk/government/news/get-your-blood-pressure-checked. Last accessed: December 2025. [8] The Health Foundation. Investing in the public health grant. February 2025. Available at: https://www.health.org.uk/reports-and-analysis/analysis/investing-in-the-public-health-grant. Last Accessed January 2026.  [9] CVDPREVENT. CVDP Annual Audit Report 2025. March 2025. Available at: https://static1.squarespace.com/static/65eafc36395e4d64e18a3232/t/6937fb8666a6d23761182c05/1765276550824/CVDPREVENT+Fifth+Annual+Report.pdf Last Accessed: January 2026. [10] Public Health England. Health matters: preventing cardiovascular disease. February 2019. Available at: https://www.gov.uk/government/publications/health-matters-preventing-cardiovascular-disease/health-matters-preventing-cardiovascular-disease. Last accessed: December 2025. [11] Tony Blair Institute for Global Change. The economic case for Protect Britain, a preventative health care delivery programme. July 2024. Available at: https://assets.ctfassets.net/75ila1cntaeh/7CcuI38C3mxgps6lC9O2iA/825bf2a41f933cf719459087c1599190/Tony_Blair_Institute_for_Global_Change__The_Economic_Case_for_Protect_Britain__July_2024.pdf Last accessed January 2026 [12] Into-Action.Health. Powering the prevention shift – The CVDACTION impact model.  September 2025. Available at: https://www.into-action.health/_files/ugd/ee4262_81e75612f13e403aab6594727b338771.pdf. Last Accessed January 2026. [13]Data & Improvement Tool. CVDPREVENT. Available at: https://www.cvdprevent.nhs.uk/. Last accessed: December 2025.   [14] Transforming the prevention of CVD. CVDACTION. Health Innovation Network. Available at: https://thehealthinnovationnetwork.co.uk/case_studies/transforming-the-prevention-of-cvd/. Last accessed: December 2025. [15] NHS Business Services Authority. Dispensing contractors’ data. Available at: https://www.nhsbsa.nhs.uk/prescription-data/dispensing-data/dispensing-contractors-data . Last Accessed January 2026 [16] AstraZeneca UK. Executive summary of Joint Working outputs. Pan Leicester Integrated Chronic Kidney Disease (CKD) Transformation Project: a quality improvement project to identify CKD patients in primary care suitable for virtual management to improve patient outcomes. (LUCID). July 2024. Available at: https://www.astrazeneca.co.uk/content/dam/intelligentcontent/unbranded/astrazeneca/uk/en/pdf/work-with-nhs-uk/Executive_Summary_of_Joint_Working_Outputs_Pan_Leicester.pdf. Last Accessed: January 2026

It seems impossible to have a conversation today without artificial intelligence (AI) playing some role, demonstrating the massive power of the technology. It has the potential to impact every part of business, and European policymakers are on board. In February 2025, Ursula von der Leyen, the European Commission president, said, “We want Europe to be one of the leading AI continents … AI can help us boost our competitiveness, protect our security, shore up public health, and make access to knowledge and information more democratic.” Research from Nokia suggests that businesses share this enthusiasm and ambition: 84 percent of more than 1,000 respondents said AI features in the growth strategy of their organization, while 62 percent are directing at least 20 percent of ICT capex budgets toward the technology. However, the equation is not yet balanced. Three-quarters of survey respondents state that current telecom infrastructure limits the ability to deliver on those ambitions. Meanwhile, 45 percent suggest these limitations would delay, constrain or entirely limit investments. There is clearly a disconnect between the ambition and the ability to deliver. At present, Europe lags the United States and parts of Asia in areas such as network deployment, related investment levels and scale. > If AI does not reach its full potential, EU competitiveness will suffer, > economic growth will have a ceiling, the creation of new jobs will have a > limit and consumers will not see the benefits. What we must remember primarily is that AI does not happen without advanced, trusted and future-proofed networks. Infrastructure is not a ‘nice to have’ it is a fundamental part. Simply put, today’s networks in Europe require more investments to power the AI dream we all have. If AI does not reach its full potential, EU competitiveness will suffer, economic growth will have a ceiling, the creation of new jobs will have a limit and consumers will not see the benefits. When we asked businesses about the challenge of meeting AI demands during our research, the lack of adequate connectivity infrastructure was the fourth common answer out of 15 potential options. Our telecom connectivity regulatory approach must be more closely aligned with the goal of fostering AI. That means progressing toward a genuine telecom single market, adopting a novel approach to competition policy to allow market consolidation to lead to more investments, and ensuring connectivity is always secure and trusted. Supporting more investments in next-generation networks through consolidation AI places heavy demands on networks. It requires low latency, high bandwidth and reliability, and efficient traffic management. To deliver this, Europe needs to accelerate investment in 5G standalone, fiber to enterprises, edge data centers and IP-optical backbone networks optimized for AI. > As industry voices such as Nokia have emphasized, the networks that power AI > must themselves make greater use of automation and AI. Consolidation (i.e. reducing the number of telecom operators within the national telecom markets of EU member states) is part of the solution. Consolidation will allow operators to achieve economies of scale and improve operating efficiency, therefore encouraging investment and catalyzing innovation. As industry voices such as Nokia have emphasized, the networks that power AI must themselves make greater use of automation and AI. Policy support should therefore extend to both network innovation and deployment. Trust: A precondition for AI adoption Intellectual property (IP) theft is a threat to Europe’s industrial future and only trusted technology should be used in core functions, systems and sectors (such as energy, transport and defense). In this context, the underlying connectivity should always be secure and trusted. The 5G Security Toolbox, restricting untrusted technology, should therefore be extended to all telecom technologies (including fiber, optics and IP) and made compulsory in all EU member states. European governments must make protecting their industries and citizens a high priority. Completing the digital single market Although the single market is one of Europe’s defining projects, the reality in telecoms — a key part of the digital single market — is still fragmented. As an example, different spectrum policies create barriers across borders and can limit network roll outs. Levers on top of advanced connectivity To enable the AI ecosystem in Europe, there are several different enabling levers European policymakers should advance on top of fostering advanced and trusted connectivity: * The availability of compute infrastructure. The AI Continent Action Plan, as well as the IPCEI Compute Infrastructure Continuum, and the European High-Performance Computing Joint Undertaking should facilitate building AI data centers in Europe.   * Leadership in edge computing. There should also be clear support for securing Europe’s access to and leadership in edge solutions and building out edge capacity. Edge solutions increase processing speeds and are important for enabling AI adoption, while also creating a catalyst for economic growth. With the right data center capacity and edge compute capabilities available, European businesses can meet the new requirements of AI use cases.  * Harmonization of rules. There are currently implications for AI in several policy areas, including the AI Act, GDPR, Data Act, cybersecurity laws and sector-specific regulations. This creates confusion, whereas AI requires clarity. Simplification and harmonization of these regulations should be pursued.  * AI Act implementation and simplification. There are concerns about the implementation of the AI Act. The standards for high-risk AI may not be available before the obligations of the AI act enter into force, hampering business ambitions due to legal uncertainty. The application date of the AI Act’s provisions on high-risk AI should be postponed by two years to align with the development of standards. There needs to be greater clarity on definitions and simplification measures should be pursued across the entire ecosystem. Policies must be simple enough to follow, otherwise adoption may falter. Policy needs to act as an enabler, not a barrier to innovation.  * Upskilling and new skills. AI will require new skills of employees and users, as well as creating entirely new career paths. Europe needs to prepare for this new world.  If Europe can deliver on these priorities, the benefits will be tangible: improved services, stronger industries, increased competitiveness and higher economic growth. AI will deliver to those who best prepare themselves. We must act now with the urgency and consistency that the moment demands. -------------------------------------------------------------------------------- Author biography: Marc Vancoppenolle is leading the geopolitical and government relations EU and Europe function at Nokia. He and his team are working with institutions and stakeholders in Europe to create a favorable political and regulatory environment fostering broadband investments and cross sectoral digitalization at large. Vancoppenolle has over 30 years of experience in the telecommunication industry. He joined Alcatel in 1991, and then Alcatel-Lucent, where he took various international and worldwide technical, commercial, marketing, communication and government affairs leadership roles. Vancoppenolle is a Belgian and French national. He holds a Master of Science, with a specialization in telecommunication, from the University of Leuven complemented with marketing studies from the University of Antwerp. He is a member of the DIGITALEUROPE Executive Board, Associate to Nokia’s CEO at the ERT (European Round Table for Industry), and advisor to FITCE Belgium (Forum for ICT & Media professionals). He has been vice-chair of the BUSINESSEUROPE Digital Economy Taskforce as well as a member of the board of IICB (Innovation & Incubation Center Brussels).

The deal creating a majority-American board for TikTok’s U.S. arm puts President Donald Trump’s allies in charge of yet another driver of American culture. The wildly popular short-form-video platform now joins CBS and the social media giant X among the stable of key communication channels that have come under more Trump-friendly management in recent years. The president has also taken more modest swings at reshaping the zeitgeist, from placing his stamp on the Kennedy Center to weighing in on television programming to appointing conservative actors to be his “eyes” and “ears” in Hollywood. But TikTok, which is used by over 200 million Americans according to the company, stands out from the rest because of its huge appeal among teens and pre-teens who form the next rising blocs of voters. For Trump’s critics, that means years of worries about TikTok acting as a vector for Beijing’s propaganda are giving way to fears that its algorithm could soon serve up a flood of far-right, pro-MAGA content to impressionable users. “We’ve seen the platform transfer from one set of owners, where there was one set of concerns about propaganda and privacy, to a new set of owners, where now there’s a new set of concerns about propaganda and privacy,” said Evan Greer, director of the progressive tech group Fight for the Future. Katie Harbath, a tech consultant and former longtime public policy director at Meta, said Trump recognizes “the importance of trying to have friends in these different places,” including TikTok. She said the president “understands the influence it has on what people think — and then ultimately, how people vote.” Trump himself expressed hope late Thursday that the deal could cement his place in young voters’ hearts. TikTok “will now be owned by a group of Great American Patriots and Investors, the Biggest in the World, and will be an important Voice,” the president wrote on his social media network Truth Social. “Along with other factors, it was responsible for my doing so well with the Youth Vote in the 2024 Presidential Election. I only hope that long into the future I will be remembered by those who use and love TikTok.” Spokespeople for TikTok and the White House did not respond to questions about how the deal could impact TikTok’s algorithm or boost right-leaning content on the platform. The long-awaited deal, carefully brokered by the White House, is intended to satisfy national security concerns with TikTok. A bipartisan law passed in 2024 required the platform’s China-based parent company to sell it to U.S. owners or face a full-scale ban. At the forefront of TikTok’s new ownership structure is Larry Ellison, billionaire co-founder and executive chair of the tech giant Oracle and a close Trump ally. Oracle first partnered with TikTok during Trump’s first term, when the president helped broker a deal that tapped Ellison’s company to help run the app’s U.S. operations. An Oracle spokesperson declined to comment. Meanwhile, Skydance Media, a media conglomerate led by Ellison’s son David, made a deal last year that gave it ownership of CBS News, then began making programming and news decisions widely seen as steering the network in a more pro-Trump direction. Those included installing new leadership at CBS and delaying the airing of a report on “60 Minutes” that was critical of Trump’s immigration policies. A spokesperson for Skydance Media did not respond to a request for comment. David Ellison is now vying to purchase the parent company of CNN — and, according to The Wall Street Journal, offered assurances to Trump administration officials that he would “make sweeping changes” to the news network. After Elon Musk purchased Twitter in 2022, he rebranded the social media site as X and ripped away safeguards meant to stop the spread of disinformation and hateful content, while reinstating the accounts of far-right users whom the company had previously banned. (Twitter’s old management had even kicked Trump himself off its platform following the Jan. 6 Capitol Hill insurrection in 2021.) Several studies have since suggested that Musk’s changes prompted an increase in hateful content, pro-Trump content and pro-GOP content across the platform. A spokesperson for X did not respond to a request for comment. Now, some observers on both sides of the political divide say the same phenomenon could repeat under TikTok’s new owners. “What I’m more interested in is just sort of the cultural vibe shift that the change in ownership will bring,” said Harbath. She said TikTok’s fate could mirror what happened when Musk took over Twitter — “before he even made changes, there was kind of a mass exodus of people, particularly on the left, who left Twitter and went to Bluesky.” Only time will tell if TikTok goes the way of X under new management. Tilting its algorithm toward far-right content could cause users to flee the platform, potentially undermining its profitability — a fate some of TikTok’s new owners may be keen to avoid. “I haven’t heard anything to suggest that this is necessarily going to go in the Elon Musk direction,” said Lindsay Gorman, managing director of the German Marshall Fund’s technology program. “Many of these investors were previous investors of TikTok originally.” Alex Bruesewitz, a Trump political adviser and head of X Strategies — the firm that manages the Team Trump TikTok account — said the president “has always been popular on TikTok,” and that people shouldn’t worry that the new owners will tweak its algorithm to boost Republicans. “The Democrats are the party that likes to dictate what social media companies do with their algorithms,” said Bruesewitz. “I don’t think that’s something that the Trump White House is interested in doing. I don’t think that they want to tell platforms how to run their businesses.” Amanda Carey Elliott, a Republican digital consultant, expressed discomfort at the notion of a “Republican billionaire pulling the levers of TikTok in our favor,” fearing it could drive moderates and independents off the app. “That said, you also have to understand where Republicans are coming from on this,” said Elliott. “For years and years, we were subjected to online censorship by platforms controlled by liberal Silicon Valley. Expecting to be censored has literally been built into our DNA, so you’ll probably be hard-pressed to find any Republican clutching their pearls at the thought of the left suddenly waking up one day to find themselves on the wrong side of an algorithm.” John Hendel contributed to this report.

In a continent of SPAs and GmbHs, what’s the value of an Inc.? A “freedom fries”-style linguistic argument has broken out over the naming of a corporate law proposal for startups, highlighting anti-American sentiment in Europe amid Donald Trump’s threats against Greenland. European Commission President Ursula von der Leyen, during a speech in Davos, suggested using the name “EU Inc.” instead of the somewhat dry “28th regime.” Her suggestion has drawn disdain from the lead lawmaker on the proposal. An American abbreviation like “Inc.” — short for the U.S.-specific “incorporated” legal entity — is “maybe not the right way to call this one” in the current geopolitical context, said René Repasi, a German Social Democrat. The row reflects deeper resistance to the Americanization of language and culture in Europe. In a continent of French Sociétés Anonymes and German GmbHs, Brussels’ embrace of U.S. corporate terminology may be a bridge too far. Some lawmakers have been rankled by the rise of “Acts” — from the Digital Markets Act to the AI Act — which mirror the punchy legislative branding of Capitol Hill, abandoning traditional European “directives” and “regulations” when used in the EU executive’s primary communication method, English. Von der Leyen has also come under fire for rolling back her green agenda during her current, second mandate. Critics have said her drive to cut red tape is a poorly disguised attempt to appease President Donald Trump, who has criticized EU regulation for discriminating against U.S. business. This latest geopolitically flavored semantic squabble summons memories of 2003, when an American lawmaker — upset with France’s refusal to join the invasion of Iraq — renamed “French fries” as “freedom fries” in three congressional cafeterias. Repasi’s proposal for the 28th regime rebrand? Societas Europaea Unificata (S.EU), a Latin-derived term that translates to “unified European company.” Parliament voted in favor of his choice of name, which echoes past proposals like the 2008 Societas Privata Europaea. “We go back to the roots of our continent’s languages,” said Repasi, explaining Parliament’s choice of a Latin-derived term rather than an American abbreviation. “I cannot be the only one who struggles to pronounce the proposed name of the new corporate form,” Kim van Sparrentak said in Monday’s debate on the proposal. (The Dutch Greens MEP still voted for the proposal with the Latin-rooted name.) COVERING THE BASIS Beyond the naming spat, there are more profound ideological splits over the regime to create a single EU window for registering companies, which Commissioner Michael McGrath is expected to unveil in late March. The idea is to create a flourishing startup landscape, and stem a flight of talent and ideas across the Atlantic. Repasi warned that the regime must not become a vehicle for “charlatans” to escape labor standards, echoing a complaint from Lukas Mandl, of the European People’s Party, that the proposal should not give rise to a “gold digger mentality” that could destabilize the European social partnership model. “If there is no credible solution how employee participation … can be secured, I see difficulties that the progressive side of the House can support such a 28th regime,” he said, citing the failure of previous attempts like the SPE and SUP due to the same issue. Another substantive issue may prove to be its legal basis, on which lawmakers haven’t yet agreed. It’s on this issue that the creators of the “EU Inc.” naming proposal — who were delighted to see von der Leyen endorse it — are really hoping to make an impact. The “EU Inc.” movement, led by founders who have taken their roadshow to capitals across the bloc, is pushing for a regulation to ensure a single, directly applicable rulebook that prevents member states from “gold-plating” the law with national quirks. If von der Leyen “chooses a title that’s very dear to pressure groups, that guarantees applause,” said Repasi, worrying that the Commission may put forward a proposal that would impinge on national labor rules. The new name in particular “sends a wrong signal,” said Repasi. The Parliament’s report steers towards what Repasi describes as a more pragmatic directive, a choice rooted in what he says is Council arithmetic. A regulation on corporate law would require the unanimous consent of all 27 member countries, a high bar that Repasi fears would create a “Frankenstein’s monster” as each capital demands its own specific national carve-outs .  By opting for a directive, the EU can move forward via qualified majority voting, bypassing the “unanimity trap” that famously saw previous attempts at corporate law harmonization languish for decades. “If we want to have a regulation which ends up in unanimity … we can wait for Godot,” said Repasi.

Europe is laying the foundation for renewed economic growth. Regulatory simplification is gaining traction. Public investment is accelerating in technology, energy and defense. Private capital is supplementing these efforts. These are meaningful steps, which, in the eyes of many, are long overdue and still need to gain pace. But an additional ingredient is required.  Our new research finds that closing the continent’s competitiveness gap requires Europe’s major companies to place a new emphasis on entrepreneurial courage: that is, the increased willingness to embrace uncertainty and take calculated risks in service of renewal and growth. Corporate leaders willing to make bold investments and engage in modern public-private collaborations, much like their American and Asian peers, stand to reap the rewards for acting decisively and with greater urgency.   Europe’s global competitiveness is ultimately a function of individual companies making a material difference, particularly large corporations and dynamic scale-ups. And it doesn’t require many acting boldly to have a disproportionate impact. In examining a sample representing about 15 percent of the U.S. economy, the McKinsey Global Institute found that more than two-thirds of productivity growth between 2011 and 2019 was driven by just 44 ‘standout’ companies. Meanwhile, 13 standout companies drove a similar proportion of the German sample’s productivity growth during the same period. These highly valued ‘outliers’, together with differences in growth and return on invested capital, underpin much of the valuation gap between European companies and their international peers, as highlighted in research we conducted on UK capital markets.   The status quo is not tenable.  Since the global financial crisis, Europe has endured a prolonged slump in private investment that has been especially pronounced in future-shaping industries. In the past five years alone, our analysis found that companies with headquarters in the United States have invested €2 trillion more in digital technologies such as artificial intelligence (AI) than their European peers. And in traditional manufacturing industries, China is out-investing Europe at a rate of 3:1.  > This investment gap not only stifles European economic growth, but prevents > the continent from inventing, developing and deploying the technologies it > needs to increase productivity and drive prosperity.  And the need to boost investments is growing: when the landmark Draghi report on European competitiveness was released in 2024, it estimated that an additional €800 billion needed to be mobilized annually to start closing the continent’s competitiveness gap. With the required additional investment in defense, that figure is now estimated to be €1.2 trillion annually for the next five years.  Of course, the regulatory landscape is also important. The positive news over the past year is that the European Commission has implemented dozens of initiatives, from regulatory simplification to streamlining and enhancing funding and market-creation mechanisms, as well as preparing to propose a ‘28th regime’ to make it easier for companies to scale across its 27 member states. Governments are also stepping up, with growth in strategic public investment in technology, energy and defense capabilities creating tailwinds for private investment. For instance, Germany amended its constitution to exempt defense spending above 1 percent of GDP from its debt brake and established a €500 billion fund to support infrastructure and climate-neutral investment. Similar programs are taking shape in France, Italy, the Netherlands and the Nordics.  But, while private sector activity shows some signs of acceleration, more is needed. Driving Europe’s economic vitality requires the emergence of standout companies, acting both individually and in close collaboration with the public sector. Without it, Europe risks another decade of ‘secular stagnation’: sluggish real GDP growth of around 1 percent annually as excess savings and a dearth of investment depress aggregate demand and push interest rates back to near zero.  > So, what does it take to show more entrepreneurial courage? Informed by our > global research and what we see standout firms doing, our research highlights > a range of actions leaders could explore.  One example is making broader ecosystem plays, such as semiconductor company ASML joining with the Dutch government and regional partners to launch Project Beethoven, a €2.5 billion public-private investment to ensure ASML’s continued presence and expansion of the broader microchip cluster in Eindhoven. Another is re-inventing potential stranded assets to position them for the industries of the future, illustrated by the range of European utilities converting or marketing former coal and gas power plant sites for hyperscale data centers. And a clear one is radical adoption of AI and automation technologies, which MGI’s research shows could add up to 3.4 percentage points to annual productivity growth globally through 2040.  > Europe has an opportunity to take steps to decisively alter its competitive > trajectory.  But while public sector leaders can lay the foundations necessary to accelerate investment and growth, the continent’s leading companies are distinctly positioned to amplify this and make a critical contribution to the continent’s prosperity, security and strategic autonomy. There’s growing consensus on what needs to be done. What’s now needed is a hefty dose of entrepreneurial courage to act.