Romanian Premier Vows Deeper Spending Cuts to Avoid Default Risk
Premier Ilie Bolojan said in an interview with Bloomberg News on Thursday that he sees the next six months as crucial for his administration to impose a series of radical austerity measures despite growing public discontent and tensions within the ruling coalition.
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Yahoo
an hour ago
- Yahoo
No deal to end Russia's war in Ukraine after Trump rolls out red carpet for Putin
JOINT BASE ELMENDORF-RICHARDSON, Alaska (AP) — President Donald Trump failed to secure an agreement from Vladimir Putin on Friday to end Russia's war in Ukraine, falling short in his most significant move yet to stop the bloodshed, even after rolling out the red carpet for the man who started it. They were expected to give a joint news conference at the end of their talks but took no questions from reporters and offered scant details. Instead, Putin said they had hammered out an 'understanding' on Ukraine and warned Europe not to 'torpedo the nascent progress.' Trump said they had made 'great progress' at their summit, but there were still sticking points. 'There's no deal until there's a deal,' the U.S. president said. He said he would call Ukrainian President Volodymyr Zelenskyy and European leaders to brief them on the talks, which lasted about two hours. Trump, who for years has balked at American support for Ukraine and expressed admiration for Putin, had pledged confidently to bring about an end to the war on his first day back in the White House. Seven months later, after berating Zelenskyy in the Oval Office and stanching the flow of some U.S. military assistance to Kyiv, Trump could not bring Putin even to pause the fighting, as his forces make gains on the battlefield. Trump had offered Putin both a carrot and a stick, issuing threats of punishing economic sanctions on Russia while also extending a warm welcome at Joint Base Elmendorf-Richardson in Anchorage, but he appeared to walk away without any concrete result on ending the war in Ukraine, now in its fourth year. The U.S. president had wanted to show off his deal-making skills, while Putin had the opportunity to try to negotiate a deal that would cement Russia's gains, block Kyiv's bid to join the NATO military alliance and eventually pull Ukraine back into Moscow's orbit. 'We had an extremely productive meeting, and many points were agreed to,' Trump said. 'And there are just a very few that are left. Some are not that significant. One is probably the most significant, but we have a very good chance of getting there.' He continued: 'We didn't get there.' Zelenskyy and European leaders were excluded from Trump and Putin's discussions, and Ukraine's president was left posting a video address before the meeting in which he expressed his hope for a 'strong position from the U.S.' Putin thanks Trump for his 'friendly tone' For Putin, just being on U.S. soil for the first time in more than a decade was validation after his ostracization following his invasion of Ukraine. His meeting with Trump may stall the economic sanctions that the U.S. president had promised unless Moscow worked harder to bring fighting to a close. It may now simply lead to more meetings, giving his forces more time to make progress on the battlefield. Putin thanked Trump for the 'friendly' tone of their conversation and said Russia and the United States should 'turn the page and go back to cooperation.' He praised Trump as someone who 'has a clear idea of what he wants to achieve and sincerely cares about the prosperity of his country, and at the same time shows understanding that Russia has its own national interests.' 'I expect that today's agreements will become a reference point not only for solving the Ukrainian problem, but will also mark the beginning of the restoration of businesslike, pragmatic relations between Russia and the U.S.,' Putin said. Despite not reaching any major breakthrough, Trump ended his remarks by thanking Putin and saying, 'we'll speak to you very soon and probably see you again very soon.' When Putin smiled and offered, 'next time in Moscow,' Trump said 'that's an interesting one' and said he might face criticism but 'I could see it possibly happening.' Trump and Putin had greeted each other with warm handshake, chatting almost like they were old friends., and gripped hands for an extended period of time on a red carpet rolled out at the military base. As they chatted, Putin grinned and pointed skyward, where B-2s and F-22s — military aircraft designed to oppose Russia during the Cold War — flew overhead. The two then shared the U.S. presidential limo known as 'The Beast' for a short ride to their meeting site, with Putin offering a broad smile as the vehicle rolled past the cameras. It was the kind of reception typically reserved for close U.S. allies and belied the bloodshed and suffering in the war Putin started in Ukraine. Although not altogether surprising considering their longtime friendly relationship, such outward friendliness before hours of closed-door meetings likely raised concerns from Zelenskyy and European leaders, who fear that Trump is primarily focusing on furthering U.S. interests and not pressing hard enough for Ukraine's. Not a one-on-one meeting White House press secretary Karoline Leavitt said shortly before Air Force One touched down that the previously planned one-on-one meeting between Trump and Putin would be a three-on-three discussion including Secretary of State Marco Rubio and special envoy Steve Witkoff. Putin was joined by Foreign Minister Sergey Lavrov and foreign affairs adviser Yuri Ushakov. The change seemed to indicate that the White House was taking a more guarded approach than it did during a 2018 meeting in Helsinki, where Trump and Putin met privately with their interpreters and Trump then shocked the world by siding with the Russian leader over U.S. intelligence officials on whether Russia meddled in the 2016 campaign. Zelenskyy's exclusion was also a heavy blow to the West's policy of 'nothing about Ukraine without Ukraine' and invites the possibility that Trump could agree to a deal that Ukraine does not want. War still raging Russia and Ukraine remain far apart in their demands for peace. Putin has long resisted any temporary ceasefire, linking it to a halt in Western arms supplies and a freeze on Ukraine's mobilization efforts, which are conditions rejected by Kyiv and its Western allies. The meeting comes as the war has caused heavy losses on both sides and drained resources. Ukraine has held on far longer than some initially expected since the February 2022 invasion, but it is straining to hold off Russia's much larger army, grappling with bombardments of its cities and fighting for every inch on the over 600-mile (1,000-kilometer) front line. Alaska is separated from Russia at its closest point by just 3 miles (less than 5 kilometers) and the international date line. Joint Base Elmendorf-Richardson was crucial to countering the Soviet Union during the Cold War. It continues to play a role today, as planes from the base still intercept Russian aircraft that regularly fly into U.S. airspace. ___ Weissert reported from Washington. Associated Press writers Matthew Lee and Jonathan J. Cooper in Washington, Elise Morton in London and Vladimir Isachenkov in Moscow contributed to this report. Michelle L. Price And Will Weissert, The Associated Press
Yahoo
an hour ago
- Yahoo
Inspired Pet Nutrition to buy Ultra Premium Direct
Investor-backed Inspired Pet Nutrition (IPN) is buying into France-based direct-to-consumer business Ultra Premium Direct (UPD). CapVest Partners-backed IPN said it has entered 'exclusive discussions' with asset-management firm Eurazeo and other minority shareholders to acquire the online pet-food company. Eurazeo said UPD has established itself as a major player in the French premium pet-food market and is regarded as one of the top direct-to-consumer (D2C) online brands in the category. IPN's proposed acquisition of UPD seeks to create a major independent and international branded pet-food platform in Europe, with a view to building a 'powerful omnichannel strategy' to 'further strengthen loyalty and engagement'. It comes as Inspired Pet Nutrition acquired Sopral last month as it looks to expand its operations in France and Europe. Since acquiring a stake in UPD in 2021, Eurazeo has supported UPD's founders and management in strengthening its brand positioning, expanding its premium product range, and reinforcing its leadership team. The deal is set to be finalised in the fourth quarter, although it is subject to the conclusion and consultation process with the company's trade unions, as well as approval from the competition authorities. CEO of IPN, Arthur van Benthem, said: 'UPD has delivered impressive growth in both sales and profitability and represents a strong strategic addition to IPN. 'It brings with it a sophisticated, proven e-commerce platform with significant international growth potential, a rapidly expanding mono-brand store network, and another outstanding brand to our portfolio.' He added: 'The business is highly complementary to both IPN and Sopral. By combining UPD's direct-to-consumer strengths with Sopral's extensive manufacturing capabilities and IPN's broader network and customer base, we unlock powerful opportunities to accelerate our ambitious growth plans across Europe. Head of Eurazeo's Elevate division, Pierre Meignen, said: 'We are very proud to have supported the founders and management team of UPD through every key stage of their development and to have stood by their side in creating a French leader in the pet-food ecosystem. 'We thank IPN for the trust they have shown in UPD and are confident that this partnership will enable the company to embark on a promising new phase of growth.' "Inspired Pet Nutrition to buy Ultra Premium Direct" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
2025 balance press conference: Highest turnover in company history
In his 21st and last balance press conference as chairman of the board, Hans-Joachim Watzke looked back to the very beginning, with a loss of 54 million euros and a turnover of just 75 million euros, before turning to the current figures and emphasising: 'We have already achieved the benchmark turnover of 500 million euros, and now, after 509 million last year, we have reached the highest turnover in our history with 526 million euros. It has been a very successful year for us.' The same goes for the club's sporting performance in some respects: 'When you consistently qualify for the Champions League over ten years' - as one of only seven clubs in the whole of Europe to do so - 'that is quite exceptional!' Compared to the previous year (509 million euros), Borussia Dortmund - the only listed Bundesliga team - increased its turnover in the period 1 July 2024 to 30 June 2025 by 3.32 per cent, to 526 million euros. The final net profit was 10.5 million euros before tax and 6.5 million euros after tax, which falls within the predictions made before the season. The management board also reported a positive free cash flow of 21 million euros, with managing director Thomas Treß reporting a 'good, stable result.' Existing credit lines of 75 million euros had not been required by the reporting date of 30.6.2025. As a result of reaching the quarter-finals of the UEFA Champions League, the club's goals in terms of both sporting and economic performance were exceeded. The new format of the competition also meant that there were seven sold out home games (compared to six the previous year), with the associated additional revenue from ticketing. A further driver of revenue was the club's participation in the FIFA Club World Cup this summer. According to Treß's report, these revenues amounted to 33.9 million euros in the financial year 2024/25. In the tournament held in the USA, BVB reached the quarter-final, which took place on 5 July 2025. This was offset by BVB's early departure from the DFB Cup in the second round, and reduced transfer revenues compared to the previous year, when Jude Bellingham transferred to Real Madrid. Last season, Niclas Füllkrug and Donyell Malen left the club for significantly lower sums. Jamie Gittens' transfer to Chelsea FC falls in the new financial year 2025/26. Revenues from merchandising were also lower than in the year when, among other things, BVB profited from the hype surrounding their participation in the Champions League Final. 'We don't want to reinvent Borussia Dortmund, we want to develop it. We still have an incredible amount of potential and are capable of gaining the support of even more people and partners,' said managing director Carsten Cramer, emphasising: 'We are much, much more than just a football club.' A club which is conscious of its own social and ecological responsibility. Thomas Treß announced: 'We have set ourselves the goal of becoming climate neutral by 2040.' Together with the supervisory board, the management board wants to reiterate its suggestion of distributing a dividend of six cents per share at the general meeting in November. 'It is important to give a signal of dividend continuity to shareholders, even if the dividend uses up the entire annual net profit,' said managing director Thomas Treß. Boris Rupert
