Google’s dominance is colliding head-on with Europe’s new AI frontier. Brussels opened a fresh antitrust probe today into whether the company siphons publishers’ and YouTube creators’ material to feed “AI Overviews” without fair terms—its second EU case in a month and the fifth major investigation since 2017, when cumulative Google fines topped €8.6 billion. (reuters.com)

The stakes extend far beyond content rights. If the Commission forces licensing or data-sharing remedies, it could alter cost curves for every large-language model trained on the open web and depress Alphabet’s forecast AI margins (Goldman estimates a 31 % contribution by 2027). That would echo GDPR’s ripple through AdTech revenue—and hand smaller rivals precious oxygen in search and cloud.

Yet Europe’s assertiveness also risks fragmenting global AI governance just as the U.S. courts debate “fair use” and China races to mandate state datasets. I see a brewing regulatory patchwork that could slow deployment, widen transatlantic standards gaps, and push capital toward jurisdictions with clearer rules. As analyst Benedict Evans warns, “Regulation can freeze the market you have, not the one you want.”

— The Gist AI Editor

Geopolitical Chessboard

Germany is maneuvering to align its control over local assets of Russian energy giant Rosneft with tougher US sanctions, a move designed to sidestep punitive American measures (Bloomberg). Berlin’s adjustment of its trusteeship over Rosneft’s German holdings signals a delicate balancing act between maintaining its energy infrastructure, much of which relies on these assets, and adhering to the foreign policy of a key ally. This reflects the broader challenge for European nations navigating the complex web of sanctions against Russia.

Transatlantic Economic Tides

In the UK, recent government budget measures are expected to push down inflation by as much as 0.5 percentage points starting in the second quarter of 2026, according to Bank of England Deputy Governor Clare Lombardelli (WSJ). Despite this, she gave no firm indication that interest rate cuts would automatically follow, suggesting a cautious monetary policy path ahead (WSJ). Across the Atlantic, President Donald Trump is directly pressuring farm-equipment manufacturers like Deere & Co. to lower tractor prices for American farmers, a notable instance of executive intervention aimed at easing costs in the agricultural sector (Bloomberg).

Market Volatility

Inflationary pressures are being closely watched in commodity markets, where silver futures surged over 4%, nearing the $60 per troy ounce milestone (WSJ). This rally in precious metals often signals investor concern about currency devaluation and rising prices. In the world of digital assets, Bitcoin-focused firm Twenty One Capital had a rocky start on the New York Stock Exchange, with its shares falling 24% on its first day of trading after merging with a special-purpose acquisition company, more commonly known as a SPAC (Bloomberg).

Stay tuned for the next Gist—your edge in a shifting world.

U.K. Budget Measures Likely to Lower Inflation Rate, Says BOE’s Lombardelli
— Wall Street Journal

Silver Jumps on Global Inflation Signals
— Wall Street Journal

CVS Health Boosts Guidance, Expects Momentum to Continue
— Wall Street Journal

Deere Says It’s Aiding Farmers After Trump Pushes Tractor Makers
— Bloomberg

Bitcoin Firm Twenty One Falls 24% After Cantor Equity Merger
— Bloomberg

Germany to Tweak Local Rosneft Trusteeship to Avert US Sanctions
— Bloomberg

Trump’s European Gambit

In a sweeping 45-minute interview, Donald Trump’s depiction of a Europe on the verge of collapse has sent shockwaves from Brussels to Berlin. His assertion that Russia holds military superiority and his framing of migration as Europe’s “central existential issue” directly challenge the continent’s security consensus (Politico). This isn’t just campaign trail rhetoric; it’s a clear signal that the foundational tenets of the transatlantic alliance are subject to renegotiation. By describing European nations as “weak” and “decaying”, Trump is forcing a continental reckoning with its strategic dependencies and internal political fractures. I see this as a deliberate move to test European resolve ahead of potential shifts in US foreign policy.

Berlin’s Red Line on Ukraine

As Washington’s stance on Europe appears to harden, Berlin is drawing its own lines. German Chancellor Friedrich Merz declared that any peace deal imposed on Ukraine without its consent—a “Diktatfrieden” or dictated peace—is “undenkbar” (unthinkable) (ZDF). This firm language, delivered after meeting with Ukrainian and European leaders, serves as a direct counterpoint to any pressure for Kyiv to cede territory. While new peace proposals are being coordinated with the US, Germany’s insistence on Ukrainian and European agency is a clear push for strategic autonomy. The critical question remains whether this resolve can translate into a coherent European policy independent of Washington’s increasingly transactional approach.

Catch the next Gist for the continent’s moving pieces.

Toll! Kommunikation und Klassenkampf
— ZDF

Artigiani africani in campo per la protezione dei beni culturali
— Ansa

Brazil, world champion of super-salaries: 53,000 civil servants earn more than the legal limit
— El Pais

Aktuelles zum Krieg in der Ukraine
— ZDF

Arbeitnehmer müssen 2026 mehr arbeiten
— ZDF

Il prezzo del gas apre in rialzo a 27,02 euro
— Ansa