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The Industrial and Commercial Bank of China (ICBC), one of the world’s largest state-owned banks, provided substantial financing to support the expansion of Chinese energy companies into Europe’s wind power sector, according to an investigation based on millions of confidential banking records. The findings raise questions about the role of state-backed financing in international competition and the potential impact of foreign subsidies on Europe’s strategic energy infrastruc

Five people have been arrested in Cyprus, Germany and Italy as part of an international investigation into an alleged €114 million value-added tax (VAT) fraud scheme involving smartphone trading. The operation, coordinated at the request of the European Public Prosecutor’s Office (EPPO) in Munich, Germany, has focused on suspected cross-border trading arrangements that investigators believe generated substantial unpaid tax liabilities in Sweden and Germany. The arrests, a

The borrowing-cost hierarchy across the eurozone has changed significantly, with Belgium paying interest rates close to those of Greece and France facing higher borrowing costs than Italy. The shift reflects diverging fiscal positions, political uncertainty and changing investor perceptions of sovereign risk as European governments prepare to issue record volumes of debt. On 15 October 2026, Belgium’s 10-year government bond yield stood at approximately 4.29%, compared with 4

The Council of Europe and the European Union have taken a further step towards strengthening international cooperation on money laundering and criminal asset recovery, with the signing of a new protocol designed to help authorities trace, freeze and confiscate proceeds of crime, including crypto-assets. The Additional Protocol to the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism, commo

Diesel has become the most expensive fuel at European filling stations, with the average price across the European Union reaching a record €2.226 per litre on 21 September 2026. According to the European Commission’s Weekly Oil Bulletin, the figure represents the highest EU-wide diesel price recorded since the series began in 2005. It is also 13.4 cents per litre higher than the average price of Euro-super 95 petrol. At current prices, filling a 50-litre diesel tank costs

Europe’s illegal online gambling market has grown at an estimated compound annual rate of 18% since 2019 and could reach approximately €13 billion in value by the end of 2026, according to research commissioned by the European Gaming and Amusement Federation and produced by Regulus Partners and Helios. The study examined black-market online gambling activity across 28 European jurisdictions, including the United Kingdom, Germany, the Netherlands, France, Belgium, Spain, Portu

Two industry-funded studies have reached strikingly different conclusions about the size of Europe’s illegal online gambling market, highlighting the challenges involved in assessing activity that takes place beyond regulated gambling systems. Research commissioned by Euromat estimates that Europe’s illegal gambling market generated €12bn (US$13.94bn) in net revenue in 2025. According to the study, the market has tripled in value since 2019 and accounted for roughly 25% of Eu

The European Anti-Money Laundering Authority (AMLA) has formally launched a public consultation on a draft operational manual that will shape how regulated organizations monitor both corporate and individual customer activity throughout the European Economic Area. The initiative represents a significant step in the implementation of the Anti-Money Laundering Regulation (AMLR), specifically fulfilling obligations established under Article 26(5) of the legislation. Through the

Air travellers across Europe are likely to face higher ticket prices in the coming months as airlines struggle to cope with soaring jet fuel costs triggered by ongoing disruption in the Middle East, according to Willie Walsh, head of the International Air Transport Association. Although some European airlines have recently lowered fares in an attempt to encourage bookings amid weaker-than-expected demand, Walsh warned that carriers would not be able to absorb rising operati

The Anti-Money Laundering Authority has formally introduced the criteria that will determine the first group of credit institutions and financial entities subject to direct European supervision as part of a sweeping effort to reduce systemic money laundering and terrorist financing risks across the continent. The regulatory initiative represents a major transformation in the governance of Europe’s financial system by consolidating oversight of the highest-risk organizations u

European governments are once again facing mounting pressure to impose windfall taxes on oil and gas companies after the continent’s biggest energy firms posted soaring first-quarter profits driven by the Middle East conflict and the resulting spike in global energy prices. Major European energy companies benefited heavily from volatility in oil markets following disruptions linked to the war involving Iran. The instability sent crude prices sharply higher and created luc

For much of the past year, Europe’s gambling watchdogs have been fixated on two familiar adversaries: rising taxes and the black market. The higher levies introduced across several jurisdictions in 2025 were designed to raise public revenues and curb excessive gambling, while tougher enforcement was meant to drive illegal operators out of the shadows. Yet the headlines that followed painted a far more complicated picture. Licensed companies complained that their margins were