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The Latest Breaking News from GDP

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

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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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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 Guardian - 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

The Independent UK

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.

Evening Standard

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.

Al Jazeera

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.

The Independent UK

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

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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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news in one place.

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The Conversation

Why Elon Musk’s US$34 billion loss wasn’t really that – and what it tells us about the philanthropy of the ultra-wealthy

Following a sharp drop in Tesla’s share price, outlets reported that the world’s richest person, Elon Musk, had “lost” US$34 billion (£25 billion) in a single day. That figure exceeds the annual GDP of countries like Iceland, Jamaica or Mauritius. Gaining or losing even 0.001% of that wealth would be…

Euronews

Spain’s PM Pedro Sánchez rejects NATO's 5% of GDP spending plan as 'unreasonable'

Spain was the lowest spender in the trans-Atlantic alliance last year, directing less than 2% of its GDP on defence expenditure.

The Guardian - UK

Spain rejects Nato plan for member states to spend 5% of GDP on defence

PM Pedro Sánchez says he wants a ‘more flexible formula’ that would make target optional or allow Madrid to opt out

The Independent UK

Spain rejects NATO’s anticipated defense spending increase as 'unreasonable'

Spain has rejected a NATO proposal to spend 5% of GDP on defense needs that’s expected to be announced next week, calling it “unreasonable.”

Newslaundry

Unpacking the data: Why India’s poverty decline may not be what it seems

Discussions on poverty in India have long centred on the Household Consumption Expenditure Surveys (HCES) which are conducted nationwide. These surveys measure how much households spend and are often used as a stand-in for household income since reliable income data is hard to collect in developing countries.

AAP

New Zealand enjoys GDP bump of 0.8 per cent in Q1

New Zealand has posted its best quarterly GDP growth figures in almost two years, though the economy is still 1.1 per cent smaller than it was a year ago.

The Conversation

Canadian international relations experts share their views on global politics and Canada’s role

A survey of Canadian international relations professors has found they disagree on how to respond to potential Chinese aggression against Taiwan and which global regions will matter most to Canada in the future.

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