Chancellor Friedrich Merz’s coalition has slashed its expectations and now estimate that Europe’s largest economy will only grow by half a percent this year.
William Denselow reports from Brussels.
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CLIP: http://fsnradionews.com/feeds/423-Hungarynewgov.mp3Asian shares pulled back from record highs on Thursday as oil prices climbed for a fourth consecutive day amid a fragile ceasefire in the Middle East.
Japan's Nikkei 225 was down more than 1.5 per cent during the day, while Hong Kong's Hang Seng Index slipped over 1 per cent. The Shanghai Composite and markets in Taiwan and South Korea were also down.
Rebecca Bundhun reports.
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The extended ceasefire in Iran announced by President Trump will not be open-ended according to US media reports.
The New York Post is also reporting that fresh peace talks may happen by Friday
Kate Fisher reports from Washington.
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European Union ambassadors have agreed on a loan for Ukraine worth more than 100 billion dollars.
The announcement came after Kyiv said that Russian oil is once again flowing through a pipeline connecting Hungary and Slovakia.
William Denselow reports from Brussels.
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Leaders from 30 nations are meeting in London today to continue discussions about keeping the Strait of Hormuz open once the US war with Iran ends.
It comes as Donald Trump extended the ceasefire - just hours before it was due to end.
It's to allow for more peace talks that were due to take place in Pakistan, but the US is continuing to block Iranian ports until that happens.
Middle East analyst Dr Laura James thinks the US is getting tired of the war:
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Lufthansa has announced it’s cutting 20,000 short-haul flights as Europe faces the prospect of a jet fuel shortage.
European Union officials say there are no signs of imminent shortages but the International Energy Agency says stockpiles could begin to runout next month.
William Denselow reports from Brussels.
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As the deadline for a fragile ceasefire in Iran looms, the likelihood of peace talks between the US and Iran is unclear.
US President Donald Trump has said he does not plan to extend the two-week ceasefire which runs out on Wednesday - without a longer term agreement.
Kate Fisher reports from Washington.
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