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The Latest Breaking News from GDP

NATO's 1.5%: Is this the devil in the detail that could derail the new spending deal?

The new NATO spending target has a 1.5% for non-military expenses. Its interpretation however is vague and could spark "opportunistic" divisions.

Euronews

NATO leaders want to appease Trump, but spending billions more on the defense alliance ‘would be just crazy for Europeans,’ foreign policy expert says

The spending target the military alliance just agreed on is unlikely to be met by all countries, but experts say some members are moving to bolster their defenses in case of a future Russia conflict.

Fortune

Fed's Schmid Says 'Wait-and-See' Approach Right For Rate Policy As Tariff Fallout Still Unclear

Kansas City Federal Reserve President Jeff Schmid said on Tuesday that the central bank has sufficient time to analyze rising import tariff impacts on inflation and economic growth before implementing further interest rate cuts.What Happened: “The current posture of monetary policy, which has been characterized as ‘wait-and-see,’ is appropriate,” Schmid…

Benzinga

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Starmer: No tax rises on working people to reach 5% defence spending pledge

He said the current commitment to get defence spending up to 2.5% of GDP was coming from cuts to overseas development aid.

Evening Standard

Europe’s pledge to spend more on military will hurt climate and social programmes

Nato plan to increase military spending overlooks risks to security posed by environmental breakdown and social decay, say economists

The Guardian - UK

Dropping F-bomb, Trump heads to NATO summit angry with Israel and Iran - Roll Call

President Donald Trump lashed out at Israel and Iran before he jetted off for a NATO summit in the Netherlands amid global tensions.

Roll Call

Cathie Wood's ARK Invest Predicts $250 Billion GDP Boost From Humanoid Robot Adoption: TSLA, NVDA, AMD To Drive AI Revolution

In a recent report, Cathie Wood‘s ARK Invest has said that the widespread adoption of humanoid robots could potentially unlock a massive $250 billion in untapped gross domestic product (GDP).

Benzinga

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Germany to raise defense spending to 3.5% of GDP in 2029

Germany’s finance minister has vowed to lift the country’s defense spending to 3.5% of gross domestic product in 2029

The Independent UK

France and Germany pledge ‘unshakeable determination’ in face of Russian threat

World leaders have convened in the Netherlands for a two-day Nato summit, with a key objective to endorse a new defence spending target of 5 per cent of each country’s GDP. French president Emmanuel Macron and German chancellor Friedrich Merz jointly expressed support for US efforts to preserving Ukraine's sovereignty…

The Independent UK

Who is attending the NATO summit and what’s on the agenda?

Continued support for Ukraine amid Russian aggression as well as higher defence spending by allies are key topics.

Al Jazeera

Nato members willingly increasing defence spending amid rising threat from Russia, says Rutte

Exclusive: As alliance members arrive at The Hague summit, secretary general says Moscow capable of launching attack within three to five years

The Guardian - UK

Nato summit expected to be triumphant for Trump and deflating for Ukraine

US president likely to be in self-congratulatory mood, with most allies persuaded to sign up to defence spending target

The Guardian - UK

Trump’s strikes on Iran could upend delicate plans for NATO summit deal on defense spending

NATO leaders hoping summit will result in commitment to spending 5 percent of GDP on defense amid threats from Russia

The Independent UK

UK to spend 5% of GDP on security as wars rage in Europe and Middle East, says Starmer ahead of Nato summit

The Prime Minister stressed Britain has been plunged into an ‘era of radical uncertainty’ by growing threats

Evening Standard

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The Guardian - UK

UK will commit to spending 5% of GDP on defence by 2035

Keir Starmer says investment in national security will also deepen Britain’s commitment to Nato

The Independent UK

Starmer pledges to spend 5% of GDP on national security and defence by 2035

But Downing Street will not say how the new Nato commitment will be paid for

The Independent UK

All eyes on Donald Trump as Nato faces an existential test

NEWS ANALYSIS: Sir Keir Starmer is desperate to demonstrate that Britain is a leader in Nato, but all eyes will be on the volatile US president as the alliance faces an existential test, writes Millie Cooke

Evening Standard

Starmer to commit to spending 5% of GDP on defence by 2035 at Nato summit

The figure is in line with the demands of President Donald Trump, who has called for Nato allies to shoulder more of the burden of European defence.

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Al Jazeera

Trump’s budget demands, Iran to split NATO summit focus

NATO leaders gather Tuesday in The Hague for what could be a historic summit, or one marred by divisions.

The Independent UK

Nato to unveil new 5% defence spending target this week, chief indicates

Prime Minister Sir Keir Starmer is among the world leaders expected in The Hague in the Netherlands this week for the Nato summit.

Euronews

Rutte: NATO's new 5% target is 'quantum leap' to improve air defence and buy 'thousands' of tanks

The crisis unfolding in the Middle East is expected to create a showdown over the summit where allies will announce a new defence spending target of 5% of GDP.

Euronews

NATO agrees to 5% higher defence spending target ahead key summit at The Hague

This week, allies are expected to commit to spending around 3.5 percent of GDP on "hard defence" that will include weapons and troops and an additional 1.5 percent on defence-related investments such as cybersecurity and military mobility.

International Business Times

NATO Strikes Spending Deal, But Spain Exemption Claim Risks Trump Ire

NATO on Sunday signed off on a pledge to ramp up defence spending before its upcoming summit, but Madrid insisted it would not need to hit the five percent of GDP demanded by US President Donald Trump.

Fortune

Russia’s economy boomed after the invasion of Ukraine—it’s now running out of steam

Record-low unemployment and ultra-hot inflation have put Russia “on the brink” of a recession, its economy minister said.

The Independent UK

Japan pulls out of talks with Trump administration after ‘being ordered to spend more on defence’

The two countries were set to hold annual security talks on 1 July

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