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Europe’s Extreme Summer Weather Could Cost It Billions

Heat waves and flooding could cost the European Union $50 billion in damage to buildings and crops as well as a loss of productivity, a new study found.

© Miguel Riopa/Agence France-Presse — Getty Images

A wildfire in a village in northwestern Spain in August. Extreme weather hit many parts of Europe this summer.
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California’s Environmental Past Confronts Economic Worries of the Present

Gov. Gavin Newsom and Democratic state lawmakers have focused on pocketbook concerns this year, seeing their party’s national losses as a reckoning.

© Loren Elliott for The New York Times

California Democrats relaxed a landmark environmental law this year, hoping to spur more housing construction. Cities like San Francisco are struggling to build enough units.
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U.S. and China Resume Talks on Tariffs and TikTok

Economic officials meeting in Madrid are seeking to head off a November tariff deadline.

© Martial Trezzini/Keystone, via Reuters

Jamieson Greer, left, the U.S. trade representative, and Scott Bessent, the U.S. Treasury secretary, met for trade talks in May with He Lifeng, China’s vice premier for economic policy, in Geneva.
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How Lutnick Is Using Government Power to Pressure Private Companies

Commerce Secretary Howard Lutnick has been putting the squeeze on companies and trading partners in an unusual effort to raise revenue and expand the president’s role over the economy.

© Haiyun Jiang/The New York Times

As the commerce secretary and a top official in charge of President Trump’s trade negotiations, Howard Lutnick has an array of powerful economic levers to deploy.
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Macron Picks Sébastien Lecornu as France’s Next Prime Minister

President Emmanuel Macron’s appointment of Sébastien Lecornu, the departing defense minister, after the government collapsed reflects the pressure Mr. Macron faces to get a budget passed.

© Pool photo by Benoit Tessier

Sébastien Lecornu, 39, left, France’s departing defense minister, was chosen by President Emmanuel Macron to be the next prime minister.
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Social Media Goes Back Online in Nepal After 19 Are Killed in Protests

The government reversed its ban on Facebook, Instagram and other platforms, which had helped to fuel demonstrations by young people who were also angry about corruption.

© Navesh Chitrakar/Reuters

Protesters in Nepal’s capital, Kathmandu, on Monday.
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India Was the Economic Alternative to China. Trump Ended That.

A lurch in policy has shaken the India-U.S. economic alliance against China, leaving India little choice but to consider reversing its own strategy.

© Saumya Khandelwal for The New York Times

Construction at the site of the Foxconn Apple Project in Bengaluru, India. Foxconn is the main contract manufacturer for Apple, which has become a touchstone for India’s China Plus One approach.
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The ‘Economic Storm’ of Crises That Is Battering Afghanistan

Afghanistan was on a timid recovery path. But four years after the Taliban retook power, it has been badly hit by aid cuts and an inflow of two million Afghans forced out of Iran and Pakistan.

© Jim Huylebroek for The New York Times

In Kabul, Afghanistan, last month.
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