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PRESS DIGEST- Financial Times - Feb 3

ReutersFeb 3, 2025 2:15 AM

- The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- EU opens door to UK and Norway for defence 'coalition of the willing'

- Oil demand to remain at current levels until at least 2040, Vitol says

- EU to 'respond firmly' if Trump imposes tariffs

- UK to unveil 100 mln pounds development finance drive

Overview

- European Union (EU) governments are exploring ways to include Britain and Norway in a 'coalition of the willing" dedicated to expanding the continent's defences, while circumventing militarily neutral and Russia-friendly capitals.

- Global demand for oil will not fall until at least 2040, according to a new forecast by Vitol, the world's largest independent energy trader.

- The EU said it regrets U.S. President Donald Trump's decision to hit Canada, Mexico and China with tariffs, and said it would respond firmly if a threat to expand the trade measures to Europe were fulfilled.

- UK development minister Anneliese Dodds will unveil 100 million pounds ($122.82 million) in seed funding for businesses focused on tackling poverty and climate change on Monday, with a focus on development rather than the traditional approach of handing out aid.

($1 = 0.8142 pounds)

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