Latest News
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Turkey eliminates the 30-euro limit on goods sent via mail
According to an official gazette published on Wednesday, the Turkish government has abolished a duty-free allowance of 30 euros ($35) for non-commercial items purchased abroad via mail or express cargo. The decision in the Gazette stated that the new rule would take effect within 30 days. Small personal orders from popular shopping sites abroad are likely to be affected by the new regulation. In 2024, the threshold was lowered from 30 euros to 27 euros, with an additional 3 euro shipping charge. Taxes are levied on goods shipped to Turkey which are not commercial. These taxes are 30% for EU origin products, 60% for other items and 20% for certain items.
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German emissions declined only modestly by 2025, due to building and transport
Agora Energiewende, a think tank for energy, said that Germany's greenhouse gases emissions will only fall marginally by 2025 due to a lack of progress in reducing pollution from transport and buildings. Agora's annual report stated that Germany will emit 640 million tonnes of carbon dioxide by 2025. This is a decrease of 9 million tons or 1.5% from the previous year. Agora's calculations showed that while Germany met its national annual emission target for 2025 the?reduction in emissions was less than half of the savings recorded in the year 2024. Agora stated that the decline in emissions in 2025 was partly driven by a?lower production in energy-intensive industries amid prolonged weak market conditions and stretched global market conditions and partly by record solar electricity generation. Julia Blaesius is the director of Agora Energywende Germany. She said that wind and solar power will continue to be a?backbone for Germany's energy transformation in 2025. Blaesius stated that "However, power sector – so far the driving force behind emission reductions – cannot compensate permanently for the shortcomings of?switching climate technologies in 'transport and buildings" Agora estimates that emissions from buildings increased by 3.2% in comparison to 2024, while those in the transportation sector rose 1.4%. (1 euro = 0.92 dollars) (Reporting and editing by Maria Martinez, Holger Hansen)
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US House panel will consider legislation to speed up self-driving vehicle deployment
On January 13, a U.S. House of Representatives 'committee' will hold a hearing to discuss legislation that aims to make it easier for autonomous vehicles without the need for human control. Congress has been split for years on whether or not to pass legislation to overcome deployment obstacles. The National Highway Traffic Safety Administration is not granting exemption requests by major automakers, but has maintained safety regulations. The current law allows NHTSA?to exempt up to 2,500 vehicles per automaker annually if the company can prove that it would be safe. The Teamsters union and consumer groups have expressed concern about self-driving cars. In June, major automakers called on Trump to act?faster. Hearings are planned by the House Energy and Commerce Subcommittee to examine several draft proposals, including one that would allow vehicles to be operated without human control up to 90,000. Other proposals will address automaker complaints about obstacles to robotaxi deployment. Automakers, for example, say that safety standards like those requiring steering wheels or rear-view mirrors in vehicles are not necessary for robotaxis. A bill currently under consideration would prohibit states from establishing rules for autonomous driving systems, while another would mandate that NHTSA establish guidelines for calibrating advanced drivers assistance systems. Tesla launched a robotaxi service in Austin, Texas last year, with safety monitors, and Alphabet's robotaxi division Waymo is aggressively expanding to new markets. Mercedes-Benz announced on Monday that it would launch an advanced driver-assistance program in the U.S. this year. The system will allow its vehicles to operate autonomously within city streets while under driver supervision. U.S. Transportation secretary Sean Duffy stated in?April, that a new framework for the department to promote autonomous vehicles will help U.S. automobile manufacturers compete with Chinese competitors. After a pedestrian was injured by a General Motors vehicle in October 2023, the NHTSA opened several investigations into self-driving cars operated by Amazon.com Zoox and Waymo. Last year, the NHTSA said that it would expedite reviews of automaker requests to deploy self driving vehicles without human controls. The House of Representatives passed legislation in 2017 to speed up the adoption of self driving cars and prohibit states from setting performance standards. However, the bill failed to pass the U.S. Senate. Reporting by David Shepardson, Washington; Editing and review by Chris Reese & David Gregorio
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Analysts say that the impact of Venezuela on CANADA-CRUDE - Western Canada Select is likely to be limited for now.
The difference between the West Texas Intermediate benchmark futures and Western Canada Select futures has widened since Tuesday, but analysts say that Canadian heavy crude will not be impacted by Venezuela's situation in the short-term. WCS for Hardisty, Alberta delivery in February settled at $13.80 per barrel below WTI benchmark, according to brokerage CalRock. This compares with $13.55 a barge on Monday. Analysts and traders assess the 'potential for further weakness,' but the capture by the U.S. of Venezuelan President Nicolas Maduro so far has had a minimal impact on the Canadian differential. A TD Cowen Report said that a 'rapid ramp up of Venezuelan oil output could significantly pressure Canadian heavy crude oil prices in the mid-term. This is unlikely. The report stated that Canada's size, rule of law and infrastructure work in its favor. If Venezuela significantly increased its production, it would give its heavy oil barrels an advantage in terms of location over Canadian heavy crude oil barrels on the U.S. Gulf Coast. ATB Capital reported that the majority of Canada's oil exports go to the U.S. Midwest. This region is less vulnerable due to its proximity to Canada and existing pipeline system. ATB Capital stated that Canadian oil prices will be more affected by OPEC+ policy in the future, Canadian egress from the west coast, Russian exports and global demand than the situation in Caracas. The global oil price fell on Tuesday, as the market weighed the expectations of an ample supply of crude this year with the uncertainty surrounding Venezuelan crude production after the U.S. captured Nicolas Maduro.
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Sources: Telecom Italia and Fastweb are looking to save money on 5G with Italy's network agreement
Three sources said that Telecom Italia and Swisscom's Italian division Fastweb were close to a deal for a network sharing agreement. This would help them cut the costs of upgrading and operating 5G infrastructure in Italy. According to Asstel, Italian telecom firms want to revamp their "business model" after losing almost a quarter of their revenue in 2010 and having their post-investment funds drop to zero. In 2010, they had 10.5 billion euro ($12 billion), but that year it was down to zero. The deal will help TIM, and its rival Fastweb, upgrade their'mobile networks' to 5G, a technology that was built from scratch, rather than based on 4G. Meanwhile, the sector is still being squeezed by fierce competition. According to a source with knowledge about the deal, TIM could save up to 300 million Euros over ten years. The project is code-named Prism internally and has not been reported previously. It covers active network components, such as antennas and base stations. The people declined to name themselves as the plans were not made public. Two sources stated that the parties aim to complete a final agreement by early march after reaching a preliminary agreement in recent weeks. Fastweb and Telecom Italia representatives declined to comment. Upgrade your network! Fastweb became Italy's leading mobile operator in 2013 after buying out Vodafone's local operations for 8 billion euros. The agreement with TIM will revive a network sharing plan that TIM,?Vodafone and INWIT agreed on but never implemented after their merger in 2019. People said that the?deal' would require each operator to upgrade the technology in specific areas, to avoid duplication of investment and manage costs. Spectrum sharing is also expected.
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Teen dies after bus strikes ultra-Orthodox demonstrators in Jerusalem
On Tuesday in Jerusalem, a mass ultra-Orthodox Jewish protest against military conscription ended tragically when a teenager was crushed to death after a driver of a bus struck the crowd. Israeli police confirmed that they have detained the driver, and are currently investigating. A video of the incident shows the bus crashing into the crowd of ultra-Orthodox protesters. ? The police were unable to contact the driver immediately while he was in custody. Magen David Adom emergency service in Israel?said that the 18-year old, who was trapped under the bus and pronounced dead at the scene. Benjamin Netanyahu has been under increased political pressure in the last year because of the 'debate about mandatory military service and those who are exempt from that. Since long, ultra-Orthodox students in seminaries have been exempted from military service. Many Israelis criticize what they perceive as an unfair burden that is carried by those who serve. Religious leaders fear that army service will weaken their ultra-Orthodox community's sense of religious identity. In the midst of increased military activity, the?issue of service in the military has become a major source of tension. Israel's military has suffered its highest death toll for decades in the past two years due to conflicts involving the Gaza Strip and other countries such as Lebanon, Syria, Yemen, and Iran. Reporting by Emily Rose, Tamar Uriel Beeri and Lisa Shumaker.
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Goldman Sachs is the global leader in M&A deals with $1.48 trillion.
Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the market share and top spot in an year that was marked by high stakes political dramas and ever-larger mergers. Goldman's No. 1 ranking was boosted by the rise of $10 billion deals, which totaled $1.5 trillion last year, or more than double the previous year. According to LSEG data, Goldman ranked No. 1 in the world. The firm was involved in 38 of these deals, more than any other investment bank. Total volume of advised deals was $1.48 trillion. This was the most active period in terms of mega deals since LSEG began keeping records in 1980. Goldman's global co-head of M&A Stephan Feldgoise called 2025 "an exceptional M&A year" and told clients that the "ubiquity in capital" was driving activity, according to 2026 M&A forecasts from the investment bank. Goldman was ranked No. Goldman ranked No.1 in two areas of importance: M&A revenue and the overall value of deals it worked on. It gained market share in both. According to LSEG, it was paid $4.6billion in M&A fee revenue, followed by JPMorgan with $3.1billion, Morgan Stanley with $3billion, Citi at 2billion and Evercore $1.7billion. Goldman Sachs, JPMorgan, and Morgan Stanley occupied the first, second, and third positions, respectively, in terms of volume of transactions, followed by Bank of America, and Citi. According to LSEG, Goldman held a 44.7% market share in 2025 for announced M&As that involved Europe, Middle East, and Africa. This level was only surpassed once, in 1999. Dealmakers claim that a looser regulatory environment made previously prohibitive deals across all sectors possible. The more permissive antitrust enforcement of U.S. president Donald Trump gave industry titans confidence to team up and make the biggest deals in the rails, consumer products, media, and technology sectors. Goldman dominated the M&A market last year with $1.48 trillion worth of deals, or 32%, according to LSEG. However, Goldman was not involved in the two largest M&A transactions: Union Pacific's $88.2 Billion purchase of Norfolk Southern by the railway, nor the heated bidding battle for Warner Bros Discovery. Bank of America, Barclays and Wells Fargo and several boutique investment banks all got a piece of these two mega deals. CEOs are looking to scale operations. The desire to scale up and grow strategically is high. This has led boardrooms to become more proactive. People aren't waiting for a business to be sold to start M&A activities," Anu Ayiengar said in an interview. JPMorgan was a major advisor to Warner Bros for its sale, and also helped Kimberly-Clark in its $50.6 Billion purchase of Tylenol manufacturer Kenvue. These were the two biggest deals the bank had done this year. JPMorgan beat Goldman in the race to be the most-paid global investment firm after taking into account fees from equity and debt capital markets. The bank earned $10.1 billion, compared to $8.9 for Goldman. The dueling bids by Netflix and Paramount Skydance for Warner Bros, at $108 billion and $9 billion, respectively, plus debt, helped propel some law firms and banks to the top of the list. These included Wells Fargo and Moelis & Allen & Co as well as Latham and Watkins. Wells, the firm that advised on 10 $10 billion or more deals, such as Netflix's bid to acquire WBD, jumped eight spots from 2024 up to number one. 9. Moelis Boutique Bank, which advised Netflix as well, has jumped three rungs ahead in 2025 to be ranked No. 16. The deal was one of five worth over $5 billion each, including the sale of Essential Utilities for $20 billion. It could depend on the winner of Warner Bros' bid if they remain at their current ranking. LSEG, a data provider, says that advisors from both bidders currently get credit for the rankings. However, this will change when Warner Bros selects a winner. RedBird Capital Partners,?M. Klein & Co. is a contender in the top 25, despite not making the top 120 list last year. This is thanks to the work they did for Paramount. LSEG stated that the Warner Bros board was leaning towards rejecting Paramount’s latest offer. People familiar with board thinking previously told us. Wells would gain two spots in the rankings if Paramount rescinds their offer. Paramount's M&A team, however, would lose one, according to the data. Charles Ruck is the global chair of LSEG No. 1's corporate department. Latham & Watkins ranked No. 1 in M&A legal advice, attributed the increasing number of large transactions to "size creep." Deals are more expensive because the Nasdaq and S&P 500 both finished higher last year. Latham was involved in the Paramount deal, the $55 billion leveraged purchase of Electronic Arts video game maker and the $40 billion sale Aligned Data Centers. He said that the market was even more ready for consolidation. In an interview, he stated that "the pipeline is full." "All the macro indicators are there, correct? The interest rates are falling, making it easier for private equity firms to make deals and achieve their targets. The IPO market has not been as strong as anyone would have hoped, so M&A is the best way to exit. You've got an environment that is largely friendly to the regulatory system, which helps determine who wins and loses."
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Goldman Sachs is the global leader in M&A deals with $1.48 trillion.
Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the market share and top spot in an year marked by high-stakes politics and ever bigger mergers. Goldman Sachs' No. 1 ranking was aided by the rise of $10 billion deals, which amounted to $1.5 trillion in total last year, a more than two-fold increase from the previous year. According to LSEG data, Goldman ranked No. 1 in the world. The firm was involved in 38 of these deals, more than any other bank. Its total volume of advised deals was $1.48 trillion. This was the most mega-deals ever recorded by LSEG since 1980. Goldman's global co-head of M&A Stephan Feldgoise called 2025 "an exceptional M&A year" and told clients that the "ubiquity in capital" was driving activity, according to 2026 M&A forecasts from the investment bank. Goldman was ranked No. Goldman ranked No.1 in two areas of importance: M&A revenue and the overall value of deals it worked on. It gained market share in both. According to LSEG, it was paid $4.6billion in M&A fee revenue, followed by JPMorgan with $3.1billion, Morgan Stanley with $3billion, Citi with $2billion, and Evercore $1.7billion. Goldman, JPMorgan, and Morgan Stanley ranked first, second, and third in terms of the volume of transactions, followed by Bank of America, and Citi. Goldman had a 44.7% market share in 2025 for announced M&As that involved Europe, Middle East, and Africa. This level was only ever exceeded once, in 1999. The technology sector accounted for the majority of deals last year. However, dealmakers claim that a looser regulatory environment has made previously prohibitive deals across all sectors possible. The more permissive antitrust enforcement of U.S. president Donald Trump gave industry titans confidence to work together on the biggest deals in railways, consumer goods, media, and technology. Goldman dominated the M&A market last year with $1.48 trillion worth of deals, or 32%, according to LSEG. However, Goldman was not involved in the two largest M&A deals of the year, the $88.2 Billion purchase by Union Pacific of Norfolk Southern and the intense bidding war between Warner Bros Discovery and Warner Bros. Bank of America, Wells Fargo, Barclays and Bank of America also had a piece of these two mega deals. CEOs are looking to scale their operations. The desire to scale and grow strategically is strong, and this has prompted boardrooms and executive suites to become more proactive. People?do not wait for a company's sale before they start M&A activities," Anu Ayiengar said in an interview. JPMorgan was a major advisor to Warner Bros for its sale, and also helped Kimberly-Clark in its $50.6 Billion purchase of Tylenol manufacturer Kenvue. These were the two biggest deals the bank had done this year. JPMorgan beat Goldman in the race to be the most-paid global investment firm after factoring in fees for equity and debt capital markets. The bank earned $10.1 billion, compared to $8.9 million from Goldman. Paramount Skydance and Netflix’s dueling offers for Warner Bros, at $108 billion and $9 billion, respectively, included debt, catapulted some banks, boutiques and legal firms to the top of the M&A list, including Wells Fargo and Moelis and Allen & Co. Also, Latham and Watkins, a law firm, ranked highly. Wells, which advised on 10 $10 billion+ deals, including Netflix’s bid for WBD (and other similar deals), jumped eight spots from 2024 to the No. 1 spot. 9. Moelis Boutique Bank, which advised Netflix as well, has jumped three rungs ahead in 2025 to be ranked No. 16. The deal was one of five worth over $5 billion each, including the sale of Essential Utilities for $20 billion. It could depend on the winner of Warner Bros' bid if they maintain their current ranking. LSEG, a data provider, says that advisors from both bidders currently get credit for the rankings. However, this will change when Warner Bros selects a winner. RedBird Capital Partners, M. Klein and Co., who didn't even make the top 120 in 2014, are now contenders for the top 25 thanks to the work they did for Paramount. LSEG stated that the Warner Bros board was leaning towards rejecting 'Paramount's latest proposal, according to people familiar with its thinking. Wells would gain two spots in the rankings if Paramount withdraws their offer. Paramount's M&A department would lose one, according to the data. Charles Ruck is the global chair of LSEG’s No. 1 corporate department. Latham & Watkins ranked No. 1 in M&A legal advice, attributed the increasing number of large transactions to "size creep." Deals became more expensive in 2014 because the Nasdaq and S&P 500 both rose by 20.36 percent. Latham was involved in the Paramount deal, the $55 billion leveraged purchase of Electronic Arts video game maker and the $40 billion sale Aligned Data Centers. He said that the market was even more ready for consolidation. In an interview, he stated that "the pipeline is full." "All the macro indicators are there, correct? The interest rates are falling, making it easier for private equity firms to make deals and achieve their targets. The IPO market has not been as strong as anyone would have hoped, so M&A is the way to go for exits. You've got an environment that is largely friendly to the regulatory system, which helps determine who wins and loses."
Timeline of suspected underwater sabotage at Baltic Sea
After a series of power outages, as well as telecom and gas pipeline failures, the Baltic Sea region has been on high alert. NATO's military presence, including aircraft, frigates and naval drones, have increased.
The police in the region have determined that some incidents are caused by sabotage, while others may be accidental or still under investigation.
JANUARY: LITHUANIA - LATVIA CABLE
A?undersea cable connecting Sventoji, Lithuania, to Liepaja, Latvia, two coastal cities about 65 km (40 mile) apart was installed.
On?January 2. ?Latvian Police boarded a docked ship at Liepaja later and started criminal proceedings.
The police
On January 5, they reported that there was no evidence to link the ship with the damage to the cable belonging to Sweden's Arelion and that they were continuing to investigate the incident.
DECEMBER 2025: FINLAND-ESTONIA TELECOM CABLES, SWEDEN-ESTONIA CABLE
On December 31, the Finnish police seized a cargo ship en route to Israel from Russia on suspicion of sabotaging a undersea cable of Elisa that runs from Helsinki through the Gulf of Finland and into Estonia.
Police said that the Fitburg vessel was found with its anchor still in the water. Investigators discovered tracks which suggested it had been dragged for "several 10s of kilometers" along the seabed.
Investigators have said that the 14 crew members of the ship were all from Russia, Georgia and Kazakhstan, and one was in police custody, while three other were prohibited from travelling while an investigation is ongoing.
Arelion, a Swedish company, said one of their cables that runs from Finland to Estonia had also been damaged on December 31. A cable that ran from Estonia to Sweden ceased to work on December 30.
JANUARY - FEBRUARY 2025 - SWEDEN - LATVIA AND FINLAND - GERMANY TELECOM CABLING
A fibre-optic cable undersea connecting Latvia with Sweden's Gotland Island malfunctioned in January, prompting an investigation by NATO and the police. Sweden seized the bulk vessel Vezhen, which was flagged in Malta. It suspected that the damage had been caused by gross sabotage.
Navigation Maritime Bulgare, a Bulgarian shipping company, said that Vezhen's Anchor may have fallen in high winds and struck the cable but denied sabotage. Later, a Swedish prosecutor ruled that the break was accidental and released vessel.
CABLES FOR POWER AND INTERNET IN DECEMBER, 2024
On December 25, four telephone lines and the Estlink 2 underwater power cable, which connects Finland to Estonia, were cut.
Finland has seized the Cook Islands Eagle S tanker, on suspicion that it was responsible for the damage caused by its anchor dragging. The ship is also suspected of being part of an "shadow fleet" to circumvent Russian oil sanctions. The Kremlin has dismissed any concerns over the seizure.
A Finnish court dismissed the case in October 2025 against Eagle S's captain and crew due to a lack of evidence.
BALTIC TELECOM CABLES: NOVEMBER 20, 2024
On November 17 and 18 two undersea fiber-optic communication cables, located in the Baltic more than 200 km (about 100 nautical miles) apart were cut. This raised suspicions about sabotage.
The investigators focused on the Chinese bulk carrier Yi Peng 3. An analysis of MarineTraffic showed that the coordinates of the ship matched the time and location of the breaches.
On December 21, China allowed investigators from China, Germany, Sweden,?Finland, and Denmark to board the Yi Peng 3 with Chinese representatives. Swedish investigators found no conclusive evidence of wrongdoing.
BALTICCONNECTOR - GAS PIPE & CABLES OCTOBER 20, 2023
On October 8, 2023, a?subsea-gas pipeline, the Balticconnector that links Finland and Estonia was severed when a Chinese container ship, NewNew Polar Bear, dragged its anchor.
The Estonian Police suspected that the ship had also damaged telecoms cables linking?Estonia with Finland and Sweden between October 8-9, before striking the gas pipeline while on its way to St Petersburg in Russia.
The captain of the ship appeared in court in Hong Kong 2025, accused of "criminal damages" to cables and pipelines.
SEPTEMBER: NORD STREAM BLASTS
In September 2022, explosions damaged Nord Stream 1 & Nord Stream 2 which were built by Russia's Gazprom across the Baltic Sea to?pump gas into Germany.
Western officials have suggested that Russia has blown up its own pipelines. This interpretation is rejected by Moscow which blames the United States of America, Britain, and Ukraine for these explosions which largely cut off Russian gas from the European Market.
These countries denied any involvement. Reporting by Anne Kauranen, Essi Lahto, Terje Solsvik, Johan Ahlander, Stine Jacobsen, Andrius Sytas, Anna Ringstrom, Simon Johnson, and Agnieszka Olesnak, Elviira Louma, and Jagoda Dallak, in Gdansk. Editing by Alex Richardson.
(source: Reuters)