Pentagon removing troops from Eastern Europe
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'Anti-Greta' activist flees Europe after Antifa death threats; Elon Musk backs her asylum claim
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Europe’s investment banks were already fighting an uphill battle to catch up with their Wall Street rivals, which dwarf them in both size and valuation terms. The return of Donald Trump to the White House has created a medley of additional challenges, laid bare in quarterly earnings this week.
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Every company in the Fortune 500 Europe top 10 has roots from before the Second World War. The oldest, Banco Santander, was founded in 1857.
Start with fragmentation. Europe’s defence companies lag far behind their American counterparts in scale owing in part to the propensity of the continent’s governments to favour equipment from their domestic defence champions. Rheinmetall generated revenue of just €10bn last year, a sixth as much as Lockheed Martin.