Reuters

WARSAW (Reuters) - Unused European Union funds meant for helping member states recover from the pandemic should be put towards building the defence industry, Poland's deputy prime minister and its foreign minister said on Monday.

Poland is spending more on defence as a proportion of its GDP than other EU states and has called for EU members to ramp up defence spending in the wake of Russia's invasion of Ukraine.

"All unused national... (continue reading...)

By Oliver Griffin

BOGOTA (Reuters) - Colombia's majority state-owned energy company Ecopetrol is analyzing its potential direct participation in the Andean country's first-ever offshore wind auction, the company said in a statement to Reuters.

The government of President Gustavo Petro, Colombia's first leftist leader, has said it wants to wean the Andean country from its dependence on fossil fuels while ensuring energy self-sufficiency.

(Reuters) - Loews Corp on Monday reported a near 22% jump in first-quarter profit compared with the previous year, helped by higher premiums and strong returns on its investments.

The company earns most of its revenue from its insurance unit CNA in which it holds an about 90% stake.

WHY IT'S IMPORTANT

U.S. government bonds have rallied on rising hopes of the U.S. Federal Reserve successfully executing a soft landing as... (continue reading...)

By Joe Brock and Mike Stone

(Reuters) - The U.S. Navy's efforts to build a fleet of unmanned vessels are faltering because the Pentagon remains wedded to big shipbuilding projects, according to some officials and company executives, exposing a weakness as sea drones reshape naval warfare.

The lethal effectiveness of sea drones has been demonstrated in the Black Sea where Ukraine has deployed remote-controlled speed boats packed with... (continue reading...)

BRUSSELS (Reuters) -The European Union Commission is to end six years of rule of law proceedings against Poland, Commission President Ursula von der Leyen said on Monday, marking the opening of a "new chapter" for the country.

  The proceedings were launched when far-right populist party PiS ruled the country. Donald Tusk, a pro-EU liberal, became prime minister last year, putting Poland on a more pro-EU course.

The EU said in a... (continue reading...)