The European Investment Bank (EIB) will announce a €15 billion initiative today, in collaboration with EU capitals and private investors, aimed at supporting the growth of European technology companies.

For decades, startups on the continent have struggled to raise the large-scale funding rounds necessary to scale on this side of the Atlantic, frequently turning to US investors or relocating abroad as they expand.

“We are catching up. Now we need to accelerate,” EIB President Nadia Calviño said.

Under the existing European Tech Champions Initiative, the EIB had already pooled resources with six EU governments to establish funds that invest in high-growth companies across the EU.

Calviño described the initiative as “very successful,” noting that it has supported 12 European “unicorn” companies valued at over $1 billion, including the German artificial intelligence translation firm DeepL.

The bank is now expanding the program with a new phase nearly four times the size of the original.

Twenty-five EU governments, alongside private investors such as Santander and Danske Bank, are expected to participate in the program.

This initial €15 billion aims to mobilize up to €80 billion in total investment. Calviño stated that this estimate is based on the multiplier effects achieved under previous programs.

As part of these efforts, the EIB also aims to attract European pension funds, which manage immense pools of capital but have historically allocated fewer resources to technology investments compared to their US counterparts.

In addition to the new funding, Calviño noted that the EIB will create a platform providing a single point of access for existing European scale-up initiatives, including the European Commission’s Scaleup Europe Fund, France’s Tibi initiative, and Germany’s Win initiative.

The General Court of the European Union has rejected Apple’s challenges against its “gatekeeper” status designated under the Digital Markets Act (DMA).

With this ruling, the company’s designated status for the App Store and iOS remains valid, while its applications regarding iMessage were also rejected.

Apple had argued that the five separate App Stores it operates for the iPhone, iPad, Apple Watch, Mac, and Apple TV should be evaluated as distinct, individual services.

The court rejected this argument, ruling that these stores serve a common purpose of connecting developers and users, regardless of the specific device.

The court also dismissed Apple’s defense that the DMA’s interoperability obligations violate its fundamental rights.

However, it did not conduct a substantive assessment on the legality of this obligation, stating that a direct legal link could not be established between the regulation in question and the determination of “gatekeeper” status.

Following the ruling, Apple argued that the obligations under the DMA “exceed the boundaries of legality and proportionality.” The company asserted that the new rules jeopardize the work it has carried out for years to ensure user privacy and security.

Apple retains the right to appeal the decision, though a company spokesperson did not comment on whether there are plans to do so.

Apple previously declared that DMA rules prevented the launch of the updated version of Siri in Europe, resulting in European users being unable to benefit from the service.

In force in the European Union since 2024, the DMA covers a total of 22 services and products belonging to Alphabet, Amazon, Apple, ByteDance, Meta Platforms, and Microsoft.

The regulation obliges these companies to share certain data with competitors, provide access to user-generated data, and offer verification tools to advertising partners.

Additionally, it prohibits platforms from engaging in anti-competitive practices that favor their own products. Companies failing to comply with the rules face fines of up to 10% of their global turnover, which can rise to 20% in cases of repeated violations.

Andy Burnham has pledged to rebuild the United Kingdom’s “hard power” by ensuring that billions of pounds in additional defense spending are directed to domestic industries rather than being funneled to American or European companies.

In his first major foreign policy statement, the Labour candidate for prime minister said he wanted to be “honest” with the public about the funding required to meet the commitment of spending 3.5% of GDP on defense by 2035.

Writing in The Times, Burnham stated that he wants investments to be channeled into “reinvigorating and industrializing the country,” supporting British jobs and British workers, rather than relying on equipment purchased from other nations.

Burnham argued that the UK must reduce its foreign dependence, adding that this is “vital for both our economic and national security” and declaring that the issue would be a central priority during his premiership.

Furthermore, while committing to closer relations with European countries on defense and security—specifically France and Germany—he promised to accelerate broader negotiations with the EU on economic security and combating “illegal migration.”

Burnham indicated that his government would continue to support international law and international institutions such as the UN.

The former Mayor of Greater Manchester said that “the global picture is growing increasingly dark” and that this uncertainty is hitting ordinary households, “revealing fundamental vulnerabilities in our society and our economy.”

Burnham made the statement as outgoing Prime Minister Keir Starmer met with other NATO leaders, including Donald Trump, at a summit in Ankara.

Burnham said the UK must “go further than ever before” by implementing a defense investment plan that commits the government to raising defense spending to 3.5% of GDP by 2035, up from the current level of 2.56%.

Burnham said:

“It is a correct step to rebuild our hard power for a new era that is very different from when much of our current military equipment was first designed. Most importantly, in doing so, I want to ensure we are supporting British workers and businesses. This means we must go much further than ever before to support British resilience through the defense investment plan; we must use the sustainable increase in defense investment not only to provide the equipment our armed forces need, but also to generate economic growth and create apprenticeship programs and jobs in communities where opportunities have diminished.”

Noting that they would focus on “reducing foreign dependence, securing inward investment, and establishing new industrial partnerships with our allies,” Burnham declared that reindustrialization through defense and other sectors is “vital” for both economic and national security, “enhancing resilience everywhere,” and would be a fundamental priority for him.

Burnham stated that he wanted to be “more open” with the public regarding how defense spending is allocated, saying:

“I want to see more detailed and publicly available progress reports containing greater transparency and accountability, so that we can tackle cost overruns or delays before they spin out of control. Our increased investments must be paired with increased scrutiny.”

Burnham also confirmed that Jonathan Powell would continue in his role as national security adviser, adding that he wanted to have “the best and most experienced advisers on national security.”