EU reopens €21.3bn in unused SAFE defence loans and urges joint projects with Ukraine
The European Commission has reopened €21.3bn in unused defence loans under the Security Action for Europe programme and is pressing member states to consider joint projects with Ukrainian companies. The move comes as Ukraine faces a large budget shortfall and continues to deal with damaging airstrikes. The funding round is part of the EU's effort to strengthen defence production and capabilities while also supporting cooperation with Kyiv.The new call for proposals runs until 13 November, after several member states borrowed less than expected in the first round. Italy, Hungary and France were among those that took up far less than... [Continue Reading]
360LiveNews | 29 Oct 2026 16:00 LONDON
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Shell reports sharp profit jump as Middle East conflict lifts oil and gas prices
Shell has reported a sharp rise in quarterly profit after the Middle East conflict pushed up oil and gas prices and disrupted global energy supplies. The company said adjusted profit for the July-to-September quarter reached $10.8bn, more than double the $5.432bn it made in the same period a year earlier. The results came as the company described the quarter as one marked by continued severe disruption to the global energy system.The figure beat analyst expectations of $10.33bn and was also higher than Shell's second-quarter profit of $9.836bn. The company said it would return $5bn to shareholders over the next three... [Continue Reading]
360LiveNews | 29 Oct 2026 08:30 LONDON
UK orders departments to cut capital budgets to help fill defence funding gap
The UK government has told every department to find 1% cuts in their capital budgets to help cover a £4.7bn shortfall in the Defence Investment Plan. The move adds fresh pressure on ministers to explain how they will meet higher defence-spending targets in the years ahead. It also comes after earlier reductions were already made this year to help fund the first stage of the plan.The funding gap sits within a wider programme that has an overall price tag of £15bn, of which £10.3bn was already covered through earlier budget changes. Capital budgets are used for long-term investment rather than... [Continue Reading]
360LiveNews | 28 Oct 2026 17:59 LONDON
