Why Armed Forces Can No Longer Ignore Climate Change
Those emissions will make the planet hotter, which makes wars deadlier and increases the risks of future conflicts. This week on Zero, Akshat Rathi asks retired Lieutenant General Richard Nugee, author of the UK Ministry of Defence's climate change report, whether this increased spending must come at the expense of climate goals and what militaries are doing on climate change.
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Joly: Visits to Saab, Lockheed 'normal' part of her job amid F-35 review
OTTAWA — Industry Minister Mélanie Joly says Canadians shouldn't read too much into her visit to a Swedish defence manufacturer that comes right in the middle of a major government review of the F-35 fighter jet procurement. Joly says she visited Saab's facilities in Sweden this week and was shown the Gripen-E jet, which is one of the possible contenders to replace the controversial U.S.-made F-35 fighter jet. Prime Minister Mark Carney ordered the review shortly after he became prime minister in March, as Canada sought tighter security and defence ties with Europe in response to U.S. President Donald Trump's trade war. The review is to be completed by the end of the summer and Joly says her role in it is to ensure the Canadian government understands all its options and what the industrial benefits to Canada would be in its final decision. Joly says this is a "normal" part of her job, and that she will also be meeting with Lockheed Martin, which makes the F-35, in the coming weeks. Joly is wrapping up a trip to Sweden and Finland with Secretary of State for Defence Stephen Fuhr, which was focused on strengthening defence-industrial ties in Europe. This report by The Canadian Press was first published Aug. 20, 2025. Kyle Duggan, The Canadian Press Sign in to access your portfolio
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US Defense ETFs Could Gain Ground As Europe's War Premium Deflates
European defense stocks experienced a sharp sell-off this week, reminding investors just how news-oriented the sector can be. A call for peace negotiations in Ukraine and a ceasefire in Gaza took almost 6% out of Goldman Sachs's portfolio of European defense stocks, per Bloomberg, with Rheinmetall, Renk, Leonardo and Saab posting the biggest losses. Invest in Gold Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation ITA ETF is up more than 33% this year. Track its prices live, here. The decline occurred as the 'war premium' that pushed European shares this year started to unwind. Investors are less keen to pay a premium for defense stocks when the risks of conflict seem to be declining, even if Europe's long-term rearmament program holds. That volatility, though, is precisely why most investors prefer U.S.-listed defense ETFs as a more stable way to tap the theme. Also Read: U.S. Defense ETFs Hold The Edge Funds such as the iShares U.S. Aerospace & Defense ETF (BATS:ITA), SPDR S&P Aerospace & Defense ETF (NYSE:XAR), and Invesco Aerospace & Defense ETF (NYSE:PPA) provide exposure to U.S. contractors including Lockheed Martin Corp (NYSE:LMT), Northrop Grumman Corp (NYSE:NOC), and Rtx Corp (NYSE:RTX). Such companies are insulated by the Pentagon's persistently high budgets, multi-year contracts for procurement and strong export pipelines, all of which insulate them from the political whirlwind of peace talks (and failures) overseas. While European stocks had a good run earlier this year, U.S. defense ETFs have been steadier performers. ITA, for instance, has climbed more than 33%, while XAR and PPA are also higher by 28% and 26%, respectively, showing resilient defense spending and increased aerospace technology demand. A Long-Term Spending Tailwind Experts point out that international defense budgets will not meaningfully contract even if fighting in Ukraine or Gaza dries up. NATO partners remain pressured to hit or surpass spending levels, and American defense companies can gain from both domestic budgets and foreign military sales. European defense is more likely to be vulnerable to political news, but the U.S. defense sector is supported by multi-decade procurement cycles. That provides U.S. ETFs with a degree of robustness that investors prefer. This week's slip in European defense stocks highlights the dangers of wagering too much on short-term conflict dynamics. For those looking for steady exposure to the industry, U.S.-listed defense ETFs continue to offer an attractive alternative — less volatile, better diversified, and securely tied to Washington's defense spending commitments. Read Next: Donald Trump Says He's 'At the Bottom Of The Totem Pole' With God, Links Ukraine Peace Push To Getting Into Heaven Photo: Funtap via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article US Defense ETFs Could Gain Ground As Europe's War Premium Deflates originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
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Two Labour-run councils 'considering all options' to challenge migrant hotel use
Two Labour-run councils have said they are considering taking legal action to stop the use of hotels to house migrants in their areas after Epping council won a temporary injunction on Tuesday. The leaders of Wirral and Tamworth councils both say they are considering their legal options in the wake of the Epping case, citing similar concerns about the impact of the hotels on their local communities. Epping Forest District Council won an interim High Court injunction to stop migrants from being accommodated at The Bell Hotel, after arguing its owners did not have planning permission to use it to house migrants. Politics latest: In a statement, Paula Basnett, the Labour leader of Wirral council, said: "Like many other local authorities, we have concerns about the Home Office's practice of placing asylum seekers in hotels without consultation or regard to local planning requirements. "We are actively considering all options available to us to ensure that any use of hotels or other premises in Wirral is lawful and does not ride roughshod over planning regulations or the wishes of our communities. "Wirral has always been proud of its record in supporting families and those fleeing conflict, but it is unacceptable for the government to impose unsuitable, short-term arrangements that disrupt communities and bypass local decision-making. "If necessary, we will not hesitate to challenge such decisions in order to protect both residents and those seeking refuge." Carol Dean, the Labour leader of Tamworth Borough Council, said she understands the "strong feelings" of residents about the use of a local hotel to house asylum seekers, and that the council is "listening to their concerns and taking them seriously". She pointed out that under the national Labour government, the use of hotels has halved from 402 to 210, with the aim of stopping the use of any hotels by the end of this parliament. But she continued: "Following the temporary High Court injunction granted to Epping Forest District Council, we are closely monitoring developments and reviewing our legal position in light of this significant ruling." Cllr Dean added that they had previously explored their legal options to challenge the use of the hotel but decided against them, as temporary injunctions were not being upheld. However, the Epping ruling "represents a potentially important legal precedent", which is why they are "carefully assessing" its significance for Tamworth. "We fully recognise the UK government has a statutory duty to accommodate people seeking asylum. However, we have consistently maintained that the prolonged use of hotel accommodation may not represent the best approach - either for our local community or for the asylum seekers themselves," she said. "We will continue to work constructively with government departments and all relevant agencies while making sure the voice of our community is heard at the highest levels of government." Last night, Conservative-run Broxbourne Council also announced it was exploring its legal options, and the Reform UK leader of Kent County said she was writing to fellow leaders in Kent to explore whether they could potentially take legal action as well. Use of Epping hotel 'sidestepped public scrutiny' The prime minister and the home secretary are under huge pressure to clear the asylum backlog and stop using hotels across the country to house those waiting for their applications to be processed. Protests have sprung up at migrant hotels across the country. But The Bell Hotel in Epping became a focal point in recent weeks after an asylum seeker housed there was charged with sexually assaulting a 14-year-old girl. Epping Forest District Council sought an interim High Court injunction to stop migrants from being accommodated at the hotel, owned by Somani Hotels Limited, on the basis that using it for that purpose contravened local planning regulations. The interim injunction demanded that the hotel be cleared of its occupants within 14 days, but in his ruling on Tuesday, Mr Justice Eyre granted the temporary block, while extending the time limit by which it must stop housing asylum seekers to 12 September. Somani Hotels said it intended to appeal the decision, its barrister, Piers Riley-Smith, arguing it would set a precedent that could affect "the wider strategy" of housing asylum seekers in hotels. A government attempt to delay the application was rejected by the High Court judge earlier on Tuesday, Home Office barristers arguing the case had a "substantial impact" on the Home Secretary, Yvette Cooper, in performing her legal duties to asylum seekers. But Mr Justice Eyre dismissed the Home Office's bid, stating that the department's involvement was "not necessary". Read more: The judge said the hotel's owners "sidestepped the public scrutiny and explanation which would otherwise have taken place if an application for planning permission or for a certificate of lawful use had been made". He added: "It was also deliberately taking the chance that its understanding of the legal position was incorrect. This is a factor of particular weight in the circumstances of this case." Reacting to Tuesday's judgment, border security minister Dame Angela Eagle said the government will "continue working with local authorities and communities to address legitimate concerns". She added: "Our work continues to close all asylum hotels by the end of this parliament."
