Markets & Rates: European shares slid to three-month lows as oil prices and rising bond yields revived inflation fears ahead of the Fed, hitting banks and financials. EU Health Supply: The Commission moves to avert drug shortages by tackling manufacturing, logistics and reliance on a small set of foreign suppliers, while harmonising how medicines are ordered and funded across member states. EU Politics: Ursula von der Leyen’s State of the EU speech is set to spotlight competitiveness, trade and defence—while critics say key realities about the bloc’s direction will be left unsaid. Canada-EU Pivot: Mark Carney pushes a “unique alliance” with the EU covering energy, critical minerals and AI, with visa rules on the table and CETA ratification urged from 10 lagging EU states. Energy & Geopolitics: Germany and Iraq discussed energy deals amid Strait of Hormuz disruption and higher oil risks; separately, EU lawmakers argue hybrid attacks need stronger deterrence, not just reaction. Tech & Industry: Germany approved a cab-less Level 4 driverless freight permit for Einride with Lidl, while Europe’s AI push faces calls for sovereign models. Business & Regulation: India begins unwinding UPI’s zero-charge era via a merchant fee framework for larger transactions. Microstates & Culture: Andorra and Liechtenstein take sharply different paths on abortion, showing how church-linked constitutional setups shape economic and political choices. Trade Rules: The WTO warns that failing to reform and preserve multilateral trade could cut global output by up to 10% by 2050.