Booking Holdings has lost its challenge to the European Union’s veto of its €1.63 billion acquisition of ETraveli, marking a significant victory for regulators and underscoring the bloc’s tougher stance on large-scale tech and platform deals.

European Court Backs Commission’s Merger Analysis

On Wednesday, Europe’s second-highest court sided with the European Commission, which blocked the deal in 2023 on the grounds that it would have deepened Booking’s market power and made it harder for competitors to challenge its position in online travel services.

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The Luxembourg-based General Court rejected Booking’s claim that the Commission had failed to follow its own merger rules and had applied the wrong legal test. In its ruling, the court said regulators were correct to conclude that acquiring ETraveli, one of Europe’s leading online flight booking platforms, would have reinforced Booking’s already dominant position in online travel agencies tied to hotel bookings.

Why Regulators Stepped In

The case reflects a broader shift in European competition policy. In recent years, the Commission has intensified scrutiny of acquisitions by dominant technology and platform companies, warning that so-called “killer acquisitions” can weaken competition by absorbing smaller but strategically important rivals before they grow into serious threats.

For regulators, the concern was not simply the size of the transaction, but the strategic logic behind it: combining a major hotel booking platform with a leading flight booking operator could have created a more integrated travel ecosystem that rival firms might struggle to match.

What The Deal Would Have Added To Booking’s Portfolio

Booking’s portfolio includes Booking.com, Rentalcars, Priceline and Agoda, giving it broad reach across global travel services. ETraveli, owned by private equity firm CVC Capital Partners, operates brands such as Gotogate and Mytrip and also provides airline content distribution through TripStack.

The combination would have expanded Booking’s ability to offer a wider set of travel products within a single ecosystem, a model that can strengthen customer retention but also raise concerns about market concentration and competitive foreclosure.

Appeal Still Possible

The General Court’s ruling does not necessarily end the matter. Booking can still appeal to the Court of Justice of the European Union, the bloc’s highest court, if it chooses to continue the legal fight.

For now, however, the decision stands as a reminder that in Europe, even large and established platform companies face increasing resistance when acquisitions appear likely to consolidate power rather than expand consumer choice.

People who regularly drink very hot tea or coffee may face a higher risk of developing esophageal squamous cell carcinoma, a study has found. Those who drank their beverages very hot had nearly three times the risk of developing the cancer compared with people who drank them warm.

The study also found a link with consumption levels. People who drank six or more hot beverages a day faced a higher risk than those who consumed fewer.

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Why Temperature Matters

Coffee and tea are typically consumed at about 50 to 60 degrees Celsius, although temperatures vary by country and preparation method. Adding milk does not necessarily make a drink cool enough, and experts recommend letting very hot beverages sit for several minutes before drinking.

“If a drink is uncomfortable to drink, letting it sit to cool down a bit to what you might expect to be warm or hot as opposed to very hot would be a good idea,” said Keren Papier, a nutritional epidemiologist at the University of Oxford’s Department of Population Health and a co-author of the study.

Papier said the size of the study strengthens evidence linking very hot drinks with squamous cell carcinoma, a subtype of esophageal cancer.

A Rare But Serious Cancer

Esophageal cancer has two main forms: squamous cell carcinoma and adenocarcinoma. Squamous cell esophageal cancer remains relatively rare in the UK, where the lifetime risk of developing the disease is about 1%, according to Papier.

The potential public-health impact is nevertheless significant because tea and coffee are among Europe’s most widely consumed beverages. Europeans consumed an average of 5.7 kilograms of coffee per person in 2023.

Smoking And Alcohol Remain Major Risk Factors

Temperature is only one part of the overall risk picture. Cancer Research UK identifies smoking and alcohol consumption as the leading lifestyle risk factors for esophageal cancer, followed by obesity.

“The best thing beyond our study is to make sure that you cut your smoking and maybe avoiding alcohol helps a bit as well,” Papier said. She emphasized that established cancer risk factors should remain central to prevention.

For tea and coffee drinkers, the practical takeaway is simple: let very hot beverages cool before drinking them.

Cyprus’ seasonally adjusted GDP grew 0.8% in the second quarter of 2026 from the previous quarter, while employment increased 0.5%, according to Eurostat data.

Compared with the second quarter of 2025, GDP rose 3.3% and employment increased 1.6%. Quarterly economic growth accelerated from 0.5% in the first quarter.

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Cyprus Growth Picks Up In Second Quarter

The 0.8% quarterly expansion followed growth of 1.2% in the fourth quarter of 2025 and 0.8% in the third quarter. Annual growth also accelerated to 3.3% from 3% in the first quarter, after reaching 4.2% in the fourth quarter and 3.5% in the third quarter of 2025.

Employment growth resumed after remaining unchanged in the first quarter. The 0.5% quarterly increase followed gains of 0.7% in the fourth quarter and 0.5% in the third quarter of 2025.

Annual employment growth slowed to 1.6% in the second quarter from 2% in both the first quarter of 2026 and the fourth quarter of 2025. Growth stood at 1.4% in the third quarter of 2025.

EU Growth Strengthens

Across the EU, GDP increased 0.7% in the second quarter from the previous quarter, while euro area output rose 0.6%. Both figures marked a sharp acceleration from the first quarter, when EU GDP grew 0.1% and euro area GDP was unchanged.

Year on year, GDP increased 1.4% in the EU and 1.2% in the euro area, up from 0.9% and 0.6%, respectively, in the previous quarter.

Ireland recorded the strongest quarterly growth at 10.2%, followed by Slovenia at 1.8% and Lithuania at 1.7%. Austria was the only member state to record a contraction, with GDP falling 0.1%.

Consumption And Trade Support Growth

Household consumption contributed 0.2 percentage points to quarterly growth in both the euro area and the EU. Net exports added 0.9 percentage points in the euro area and 0.8 points in the EU.

Inventory changes reduced growth by 0.5 percentage points in both regions. Gross fixed capital formation had little impact in the euro area and added 0.1 percentage points in the EU.

Employment increased 0.1% quarter on quarter in both the euro area and the EU. Annual employment growth reached 0.5% in the euro area and 0.4% in the EU, with 221.4 million people employed across the EU and 176.4 million in the euro area.

Hours worked increased 0.1% in both regions from the previous quarter. Compared with a year earlier, hours worked rose 0.7% in the euro area and 0.8% in the EU.

Employment Trends Vary Across Europe

Portugal recorded the strongest quarterly employment growth at 1%, followed by the Czech Republic and Malta at 0.9% each. Finland saw the largest decline, at 0.8%, followed by Greece at 0.4%.

In the United States, GDP increased 0.4% from the previous quarter and 2.1% year on year.

Andreas Shiamishis, the Cypriot CEO of HELLENiQ ENERGY, ranked first in Extel’s 2026 Emerging EMEA Executive Team survey in the “Mid-Cap Oil & Gas” category.

The recognition comes as HELLENiQ ENERGY expands beyond its traditional refining business and strengthens its position across Southeast Europe’s energy market.

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Investors Back HELLENiQ ENERGY’s Strategic Shift

Shiamishis has led the group since 2019, overseeing a broad strategic transformation. During his tenure, HELPE was rebranded as HELLENiQ ENERGY, while the group increased its focus on the energy transition and renewable energy.

The strategy has diversified the company’s business and expanded its international presence. HELLENiQ ENERGY now combines its refining operations with investments aligned with longer-term changes in the energy sector.

Group And Investor Relations Teams Also Recognized

HELLENiQ ENERGY was also named among the “Most Honoured Companies” in its category, while its Investor Relations team received top recognition. The results reflect investor assessments of both the company and its management and communications.

For the group, the recognition adds to its international profile as it expands across the regional energy market.

What Extel’s Survey Measures

Extel’s annual survey evaluates listed companies and executives on management credibility, communication, financial stewardship and capital allocation. Shiamishis has ranked among the sector’s top three executives in recent years.

This year’s survey collected votes from 454 professionals at 247 investment firms. Overall, 401 companies and 603 senior executives across 11 sectors were evaluated.

Shiamishis Maintains Links To Cyprus

Shiamishis, who is from Morphou, remains closely connected to Cyprus, where HELLENiQ ENERGY operates through EKO and is expanding its renewable energy activities.

His ranking places a Cypriot executive at the top of Extel’s 2026 Mid-Cap Oil & Gas category, while the wider results recognize HELLENiQ ENERGY and its Investor Relations team.

Sweden is strengthening efforts to detect foreign information influence and coordinated attempts to manipulate political debate ahead of its general election. Authorities are focusing on how artificial intelligence and social media are changing the creation, distribution and amplification of political messages.

The government said greater resilience is needed because of the current security environment, rapid technological developments and lessons from elections elsewhere in Europe.

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AI Network Shows How Influence Tactics Are Evolving

The Swedish Psychological Defence Agency last week reported a partly AI-powered network of about 1,200 fake accounts on X known as Holiday. The network generated more than 50,000 posts, comments and shares during 2025 and 2026 and was used for malign influence targeting Sweden and other countries.

Sweden’s central bank first identified the accounts after employees took part in an agency exercise, and X later removed the network. Holiday has not been directly linked to this year’s election, but authorities released the findings ahead of the vote to highlight emerging tactics.

TikTok And AI Change How Voters Get Information

One in 10 Swedes uses AI services to ask questions about politics or social issues, according to an April report from Sweden’s Internet Foundation. Among first-time voters, the share rises to one in four.

Recommendation systems can amplify sensational or emotionally charged content because it generates stronger engagement. Generative AI also allows networks to produce large volumes of material across multiple accounts at relatively low cost.

In February, Swedish public radio identified four TikTok accounts featuring AI-generated young women that promoted far-right and anti-immigration messages. The broadcaster found indications that the accounts were operated by the same actor.

Authorities Monitor Rising Online Activity

A Swedish Psychological Defence Agency poll found that 64% of adults believe foreign attempts to influence Sweden this year are very or quite likely. Meanwhile, the Swedish Defence Research Agency said election-related posts increased from about 1,000 a day to almost 2,400 shortly before early voting began.

Researchers have detected coordinated posting, identical content and fake accounts, but said the scale remains limited. So far, they have not attributed the activity to an organized foreign campaign.

Migration Remains A Key Disinformation Target

Migration-related narratives remain a particular focus because they have featured prominently in Russian disinformation efforts. Researchers have monitored claims that Sweden is being “Islamified,” that migrants were brought in to support left-wing parties and that electoral fraud is taking place.

“When we look at the topics that Russia has been pushing before, this is outgrowing every other topic, even support for Ukraine,” said Ola Svenonius, a senior researcher at the Swedish Defence Research Agency.

Despite these narratives, Sweden is not currently considered a priority target for Russian information influence by the Swedish Psychological Defence Agency. Svenonius said Moscow may instead focus on other elections, including German state contests.

Sweden Builds On Lessons From Earlier Elections

Authorities say Sweden is now better prepared to identify suspicious activity than during previous election cycles. Svenonius, who has monitored the country’s election information environment since 2018, said institutional awareness has also improved.

“We should be concerned,” he said. “We shouldn’t be panicked, but concerned for sure.”

Cyprus Electricity Authority (AΗΚ) inspectors have identified 22 violations involving photovoltaic systems during checks at commercial properties across the island. Of 110 suspicious cases flagged so far, 77 have been inspected. Initial findings indicate that unlicensed installations may be more widespread than the cases identified to date.

Businesses Removed Some Unlicensed Systems

Several property owners appear to have removed entire photovoltaic systems or additional panels before inspections began. AΗΚ had warned that on-site checks would follow, prompting some owners to act before inspectors arrived.

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Commercial properties, including hotels, restaurants and retail outlets, have been the initial focus. Residential systems are expected to be inspected later.

22 Violations Confirmed From 77 Inspections

Among the 77 properties inspected, 22 were found to have violations. Owners were instructed to remove either the entire system or additional panels installed without the required applications and permits. Inspections will expand beyond the original 110 cases as AΗΚ identifies other properties for review.

How AΗΚ Identifies Suspicious Installations

AΗΚ’s software compares a property’s electricity consumption with expected usage for similar premises. Significantly lower consumption, combined with no registered photovoltaic application, can trigger an inspection. Specialized teams across all districts then visit the premises and request access. Illegal systems are disconnected when violations are confirmed.

Owners Face A €200 Inspection Charge

Owners whose systems are disconnected must pay €200 for the investigation. No charge applies when inspectors find no violation. After disconnection, owners must submit an application to install and operate a photovoltaic system legally. Work on AΗΚ’s network requires an application and prior inspection by an AΗΚ crew.

Violations are also reported to the Cyprus Energy Regulatory Authority, known as RAEK. Standalone homes require an additional inspection by the Electrical and Mechanical Services.

Inspections To Continue Across Cyprus

AΗΚ’s campaign aims to bring unlicensed photovoltaic installations into compliance. With 22 violations confirmed from the first 77 inspections, current results suggest the issue extends beyond the properties initially identified.

Cyprus has introduced two housing schemes aimed at expanding affordable housing, increasing supply and helping families facing rising property costs. Announced by Interior Minister Constantinos Ioannou, the measures combine public land, planning changes and incentives to make better use of existing properties.

Families Can Add A Floor

One scheme allows homeowners to add another floor for children or grandchildren, subject to specific conditions, even where the property has reached its permitted building density.

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An additional housing unit can be created within an existing building or through an extension, added floor or unused space on a plot. The unit can have up to 150 square meters of buildable area, rising to 180 square meters under certain conditions, with parking concessions and a 10-year restriction on transfers except through inheritance.

State Plots At 25% Of Market Value

A second scheme allows eligible households to acquire state-owned plots at 25% of market value. It targets Cypriot citizens under 45, including families with children, couples without children and single-parent families, subject to income and other criteria.

Around 570 plots are expected to be allocated to applicants from the first phase, with further subdivisions planned, particularly in mountainous, remote and disadvantaged areas.

More Housing Projects Underway

The new measures join existing programs supporting young families, rural communities and displaced persons. A program for young people and families up to 41 has supported 700 beneficiaries with €26 million, while other regional schemes approved 1,075 applications between 2023 and 2026, involving €43 million.

Affordable housing projects on state land include 460 planned homes at below-market rents. Meanwhile, the Cyprus Land Development Corporation has 702 units at the implementation, licensing or planning stage and is promoting another 135 plots.

Planning incentives and the Built to Rent initiative are expected to add more than 4,100 units over the next three years, including 1,142 for affordable purchase or rent. More than €22 million is also expected to go into the Special Affordable Housing Fund, supporting about 250 additional units.

Faster Approvals Aim To Expand Supply

Fast-track planning reforms have reduced approval times, with 2,533 detached and semi-detached homes licensed within 40 working days by the end of August. Another 1,242 apartment blocks and terraced housing developments were approved within 80 working days, affecting more than 15,000 families.

Ioannou said the broader strategy is focused on expanding the housing stock, making better use of public and private land, supporting households and speeding up delivery.

The Cyprus Chamber of Commerce and Industry (Keve) has called for a review of Cyprus’ competitiveness following reports that technology company BrainRocket has closed its Limassol offices and offered relocation packages to most remaining employees.

BrainRocket Case Raises Wider Concerns

Keve said it would be premature to draw conclusions about BrainRocket’s decision without official information from the company. However, it said the reported withdrawal should prompt a broader discussion about Cyprus’ business environment.

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BrainRocket reportedly closed its Limassol offices and other leased facilities, with remaining employees working remotely and most offered relocation packages to Spain or other countries. The move follows a restructuring that began in summer 2025, when the company shifted a substantial part of its operations to Valencia.

BrainRocket employed about 1,500 people in Cyprus at the time, with more than 1,000 affected by the restructuring.

Costs, Regulation And Talent Under Review

Keve said Cyprus still benefits from EU membership, a professional services sector, skilled workers, its location and a growing technology ecosystem. At the same time, it warned that these advantages cannot be taken for granted as competition for investment and talent increases.

The chamber called for greater attention to operating and energy costs, housing, bureaucracy, licensing and immigration procedures, infrastructure and access to specialized workers. It also stressed the importance of a stable and predictable tax and regulatory environment.

Keve said it wants to work with the government to assess the BrainRocket case and identify practical measures to strengthen Cyprus’ competitiveness.

Pillar Two Adds To Business Concerns

The discussion comes alongside wider concerns over Cyprus’ tax competitiveness. The American Chamber of Commerce in Cyprus has separately called for a balanced implementation of the OECD/G20 Pillar Two global minimum tax framework.

AmCham has warned that changes could affect future investment, employment and Cyprus’ position as an international business hub. It said some US-headquartered multinationals could reconsider expansion plans or choose other jurisdictions if Cyprus becomes less competitive, although the potential impact remains uncertain.

Keve stressed that one company’s decision does not determine the outlook for the Cypriot economy. It said such cases should nevertheless prompt timely assessment and action before competitiveness concerns become structural disadvantages.

Meta has launched a new AI personal agent app and is already asking some users to pay for it, as the company seeks to turn its AI investment into a new business line.

Developed under the internal code name Hatch, the app is powered by Meta’s Muse Spark family of foundation models. It can handle everyday tasks including booking appointments, completing online forms and monitoring home security camera feeds.

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Meta Targets A Simple User Experience

Meta AI chief Alexandr Wang said Muse is designed to keep the user experience simple while handling complex tasks in the background.

“Behind the scenes, Muse might be doing very advanced coding workflows, or building sophisticated integrations, or doing quite a lot of heavy lifting while keeping that very sort of simple for the user,” Wang told CNBC.

Muse will offer a free tier and monthly plans costing $20 and $100, depending on usage. The pricing reflects Meta’s effort to build recurring AI revenue alongside advertising.

Zuckerberg Bets On Personal AI Agents

CEO Mark Zuckerberg has identified personal AI agents as a potential next stage of artificial intelligence and a source of future products and revenue. That strategy is driving continued spending on data centers and AI infrastructure as Meta bets that assistants capable of managing emails, finding deals and handling routine tasks will become mainstream.

Launch Comes Amid Legal And Industry Scrutiny

Muse arrives as Meta faces continued legal scrutiny. The company recently agreed to pay nearly $17 billion in a settlement with a coalition of state attorneys general over allegations involving harm on Facebook and Instagram, while additional lawsuits from personal injury plaintiffs and school districts remain pending.

Across the AI industry, regulators and security experts are also examining cybersecurity risks associated with autonomous agents and their underlying models. Data center expansion and questions over AI profitability are adding further pressure on major technology companies.

Meta Seeks A Payoff From AI Spending

Wall Street is pressing Meta to show that its AI investments can produce durable returns as the company remains heavily dependent on advertising while expanding into subscriptions and commerce.

Muse joins Meta’s broader AI portfolio, including the Muse Code developer agent and subscription offerings tested in recent months. Together, they point to a strategy of building a commercial AI services business rather than treating AI products as standalone experiments.

Security, Privacy And Commerce

Meta says Muse operates in an isolated environment and does not access users’ actual passwords or payment details. The agent asks for approval before sensitive actions, while third-party researchers can test the product through a bug-bounty program.

Users can opt out of having their Muse interactions used to train Meta’s models. For those who remain opted in, Meta says it will remove critical personally identifying information before using the data, according to David Singleton, Meta’s vice president of engineering.

Commerce could provide another revenue source. Wang said Meta is considering taking a share of shopping transactions completed through the agent, although no final business model has been decided.

Muse Expands Across Meta’s Ecosystem

US consumers will be able to access Muse on iOS, Android and a standalone website, with plans to bring it to Ray-Ban Meta glasses.

The service will compete with personal-agent products from OpenAI, Google and newer startups. Wang acknowledged that the market remains at an early stage, saying, “It’s pretty early in this new era of personal agents.”

Repeated and unusually early heatwaves are changing how travelers perceive summer conditions across Southern Europe, but temperature remains only one factor shaping tourism demand.

An analysis of Italy, France, Spain, Portugal and Greece by The Data Appeal Company and Almaviva Group found that destination appeal, familiarity and resilience continue to influence travel decisions alongside climate conditions.

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Climate Perception Becomes A Tourism Metric

The study uses the Perception of Climate Index (PCI), which measures traveler views of a destination’s climate on a scale of 0 to 100. Researchers analyzed May through September in the five countries using data from 2023 onward, with 2026 figures covering the period through July.

Results suggest climate change is creating pressure on tourism rather than immediately overwhelming demand. Destinations may need to respond through infrastructure improvements, adaptation measures and greater focus on year-round tourism.

France Sees The Sharpest Shift

France recorded the lowest PCI between May and July 2026, averaging 77.2, indicating a stronger deterioration in traveler sentiment following repeated heat exposure.

Portugal was the most resilient, with a score of 93.5, followed by Italy at 91.6, Spain at 90.4 and Greece at 89.9. Italy’s average also slipped from 92.2 in summer 2025 to 91.3 in May-July 2026, suggesting repeated heat events are gradually influencing expectations.

Heatwaves Create Short-Term Swings

Heatwaves generally cause temporary declines in climate perception, followed by recovery as temperatures return to normal. However, the 2026 data suggest earlier, longer and more frequent heatwaves may have a more lasting effect.

For tourism operators, the question is increasingly whether destinations remain reliable summer choices as extreme weather becomes less predictable, rather than simply whether visitors can tolerate high temperatures.

Portugal Shows Greater Stability

Portugal recorded the most stable climate perceptions in the study, with an average PCI of 91.1 across the summers analyzed. That consistency may partly reflect traveler expectations in a market already associated with warm summer conditions.

Spain and Greece also remained resilient despite sharp short-term fluctuations during heatwaves. Since 2023, Spain recorded an average summer PCI of 87.2 and Greece 89.2, although Greece’s 2026 performance was weaker than in previous years.

Tourism Strategy Faces New Climate Pressure

For tourism destinations, climate change is becoming a planning issue as well as a weather challenge. Repeated heatwaves are testing how well Southern European markets can maintain their appeal during the traditional peak season. Infrastructure upgrades, clearer visitor communication and tourism products designed for periods outside July and August could help destinations adapt.