logo
Markets Update: European indices slide amid tariff uncertainty

Markets Update: European indices slide amid tariff uncertainty

Business Post19 hours ago

European markets opened largely in the red on Thursday morning, as investors adopted a cautious stance amid ongoing trade uncertainty.
Wall Street's main indices lost ...

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Matheus Cunha determined to help change fortunes of ‘dream team' Man United
Matheus Cunha determined to help change fortunes of ‘dream team' Man United

Leader Live

time15 minutes ago

  • Leader Live

Matheus Cunha determined to help change fortunes of ‘dream team' Man United

The 20-time English champions are in the midst of a rebuild under Ruben Amorim, having limped home 15th in the Premier League and lost the Europa League final to fellow strugglers Tottenham. The defeat in Bilbao cost them Champions League qualification, meaning United will spend a first season without European football since 2014-15. But the Red Devils' issues did not deter Brazil international Cunha, who completed his eagerly-anticipated £62.5million switch from Wolves on Thursday. ✍️ It just looks right. — Manchester United (@ManUtd) June 12, 2025 'It is the most common phrase that you can say at this moment, but this is the dream come true,' he told MUTV. 'Maybe outside, I think maybe my decision, they don't understand. But when you have always dreamed to play here, it's easier to pick this decision. 'For me, no-one else is like United. Of course, I know it's been a hard season for everyone. I think my decision shows what this club is for me and what I believe this club can be. 'And, of course, I'll do everything that I can to manage this inside of me, to play for my dream team and put my dream team to win.' A post shared by Manchester United (@manchesterunited) Cunha loved United growing up and spoke of his admiration for Wayne Rooney, along with many other members of the triumphant 2008 Champions League side. The Red Devils are a long way from even qualifying for that competition right now, yet the forward has lofty ambitions. 'I don't think we have one player who comes here and then doesn't think about the glory days in Man United,' Cunha said. 'To remember all the times that they win the Premier League, how many titles it was, and of course to qualify for the Champions League. This is what I think about United, you know to put this club on top. 'Then what I can do is everything to show them I'm here to help the team, to conquer these kind of things.' Cunha is the first of Amorim's summer recruits and the Brazilian, who has signed a deal until 2030 with the option of another year, is excited to work under the United head coach. 'I really believe in him, everything that he did in Portugal,' he said. 'I hope he can conquer the world like he did in Portugal. 'But of course I think he needs the players that can do everything like I'm open to do and help the team, help him. All the conversation that we have had made my decision easier.'

Schengen hits 40: What problems lie ahead for Europe's border-free zone?
Schengen hits 40: What problems lie ahead for Europe's border-free zone?

Local Italy

time18 minutes ago

  • Local Italy

Schengen hits 40: What problems lie ahead for Europe's border-free zone?

Who would have thought that a tiny town in Luxembourg would have become famous for giving the name to a visa and to the largest free travel area in the world? That is Schengen, where forty years ago, on June 14th 1985, five European countries signed a convention to 'gradually abolish' internal borders checks and allow their citizens to travel around freely. Here is the story of those events and what has happened next. How did it start? The Schengen Agreement was not the first free travel arrangement in Europe. The Benelux countries (Belgium, the Netherlands and Luxembourg) and the Nordic countries had already established their free movement areas. The Common Travel Area for the UK and Ireland was also in place too. In 1984, France and the Federal Republic of Germany signed the Saarbrücken Accord aiming to gradually abolish checks at their border. The Schengen Convention was modelled around that accord and incorporated Belgium, then West Germany, France, Luxembourg, and the Netherlands. The signature was a low-profile but symbolic event, as it happened on a boat, the Princess Marie-Astrid, on the Moselle River, at the Luxembourg border with Germany and France. At the time, the European Economic Community (now the EU) had 10 members. The Schengen Agreement was signed between governments, outside of the EEC legal framework. Italy was notably excluded because its immigration policy was considered too lax. Greece was also left out, while Denmark, the UK and Ireland were not keen to open their borders. In 1990, the Schengen Convention complemented the agreement detailing the arrangements to establish an area without internal border controls. The Treaty of Amsterdam, signed in 1997 and enforced in 1999, incorporated Schengen into the legal system of the European Union. How many countries are part of the Schengen area? Today, the Schengen area includes 25 of the 27 EU member states, and the four countries of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland). Romania and Bulgaria were the latest countries to join, on 1 st January 2025, and Cyprus is expected to become part of the Schengen area from 2026. Ireland is unlikely to join in the short term, as that would require to establish a border with Northern Ireland. According to the EU Council website, the Schengen area covers over 4.5 million square kilometres with a total population of almost 450 million people. Every day around 3.5 million people cross the Schengen internal borders for work, study or visits, and almost 1.7 million people reside in one Schengen country while working in another. What is the purpose of the Schengen Agreement? The main purpose of the Schengen Agreement was to abolish internal border checks, one of the most tangible aspects of European integration. At the same time, the agreement seeks to strengthen external border controls increasing cooperation between police authorities. This is done with the Schengen Information System (SIS), which allows member countries to share information on wanted or missing people and goods, the creation of the European Border and Coast Guard Agency (Frontex), and the European Union's agency for law enforcement cooperation (Europol). While the visa policy remains a matter of national law, the Schengen convention also established a common visa for short term visitors. What is a Schengen visa? Non-EU citizens who are required a visa to visit the EU for leisure can apply for a Schengen visa, which allows to stay and travel in the border-free area for up to 90 days in any 180-day period. Similarly, people travelling for business can apply for a Schengen business visa. People from visa-free countries, such as Brits, Americans, Canadians or Australians can spend up to 90 days in every 180 in the Schengen zone without a visa. But checks remain in place at many borders... Under the Schengen Borders Code, which sets the rules governing the Schengen area, internal border checks can be temporarily restored where there is a 'serious threat to public policy or internal security', from the organisation of a major sport event to a terrorist attack. These checks should be a 'last resort' measure, should be limited to the period 'strictly necessary' to respond to the threat and not last more than 6 months. In exceptional circumstances, internal border controls can be reintroduced for a maximum of two years. Countries reintroducing border controls have to notify the European Commission and other member states and detail the reason for their decision. There are currently reinforced border checks at internal EU borders in many countries including Germany, France, Spain, Italy, Denmark, Austria and Sweden. The full list of countries that currently have controls in place is available here. Although these measures should be exceptional, there have been continuous disruptions to the free movement of people in the Schengen area. A recent reform of the rules aims to ensure that border controls are an exception, improving police cooperation and establishing targeted checks in border regions. When controls are in place, governments should limit their impacts on border areas, on cross-border workers, and on the functioning of the single market, especially to guarantee the transit of 'essential' goods as it happened during the pandemic. What lies ahead in the future? The next step in the development of the Schengen area will be its digitalisation. EU countries recently agreed to introduce the possibility to apply for a visa online and replace the current visa sticker in passports with a digital visa. A major change, expected in October after many delays, will be the introduction of the Entry/Exit System (EES), an IT infrastructure that will register non-EU nationals travelling for a short stay each time they enter and exit the Schengen Area. This is meant to increase security and avoid stays exceeding the 90 days in a 180-day period. Travel providers and governments have long feared the delays at borders that will come with EES. Because of this EU governments have agreed to phase in the roll out of EES and allow for countries to suspend the checks if there are problems at the borders. After the EES, Schengen countries will also introduce the European Travel Information and Authorisation System (ETIAS), which will require non-EU nationals who are exempt from visas to apply for a travel authorisation prior to their trip. Once applied for, the ETIAS will be valid for three years.

'We called our pitches Old Trafford': Cunha's childhood fantasy becomes reality
'We called our pitches Old Trafford': Cunha's childhood fantasy becomes reality

Straits Times

time21 minutes ago

  • Straits Times

'We called our pitches Old Trafford': Cunha's childhood fantasy becomes reality

MANCHESTER, England - Manchester United's stadium will not feel entirely unfamiliar to Matheus Cunha when the Brazilian makes his home debut for his new team next season. It is almost like he has been playing at Old Trafford for years. A day after United completed the signing of Cunha from Wolverhampton Wanderers, the dynamic forward said he grew up in the Brazilian beach city of Joao Pessoa dreaming of one day playing for the club. "It is hard to find a way to explain this club to me," the 26-year-old said in an interview with United's in-house media. "My house didn't have the channel to watch the Premier League. My cousin's house didn't have the channel. "Only in my grandma's house, we can watch the Premier League, so we organised to go every weekend. And for me, it was always a bit inside of me, this club. When I play with (my cousin) in the street, on the beach, on the gravel pitch, we called these pitches 'Old Trafford.' Imagine. "So, wow, it's so hard to be here now, thinking about the past — it's very emotional for me." Cunha scored 15 Premier League goals for Wolves last season. He also helped Brazil qualify for the 2026 FIFA World Cup on Tuesday, setting up the only goal in a decisive 1-0 win at home to Paraguay. His move to Manchester raised some eyebrows after United finished a woeful 15th in the Premier League and failed to qualify for any European football next season. But he said the club and its former stars had left a lasting impression. "It's hard to talk about because I remember the whole squad at the time that I started to watch," he said. "In the front, (Wayne) Rooney, wow. Someone that I think I have a lot of particulars in my game, because I always give everything. "I remember he was the No. 10 and everyone loved the skills of the player in his shirt, but he brings more. He goes to the grass (slide tackle) to take the ball, this kind of energy inside of him was a big example. "(Cristiano) Ronaldo, everyone knows, it is easy to talk about him. Ryan Giggs. Everyone. I can imagine the team, it started with (Edwin) Van der Sar in the goal, Rio Ferdinand, (Nemanja) Vidic, the defenders, Paul Scholes, wow, (Michael) Carrick. The team for me, honestly, was a big impact for my teenage years." REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store