Your Evening Briefing
Here are today’s top stories for Europe.
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The fallout continues from Britain’s head-spinning general election. As Prime Minister Theresa May faces a battle to keep her job, her Conservative Party is sliding into civil war over Europe and emboldened moderates (and business leaders) are pushing the government to change its tune. Here are May’s new Brexit scenarios. — Andy Reinhardt
Unstoppable Emmanuel. Less than two months after Emmanuel Macron became president of France, the 39-year-old political novice won 32 percent of the vote in the first round of legislative elections. His year-old party, Republic on the Move, is headed for a sweeping majority. The result marks the end of an era of dominance for France’s mainstream parties.
Waiting to talk. Qatar’s foreign minister says the tiny Gulf state hasn’t had any specific demands from the Saudi-led bloc that has severed ties with it, and sees no basis yet for a diplomatic solution. Earlier, Qatar’s finance minister insisted it can defend its currency and economy. Nevertheless, there are going to be winners and losers from the regional sanctions.
Europe’s discount supermarkets take their battle to the U.S. Low-price German grocery chain Aldi says it will spend $3.4 billion over the next five years to open 900 supermarkets in the U.S. Rival Lidl opens its first American stores this week, with plans for as many as 100 by mid-2018. The trans-Atlantic expansions could put pressure on local retailers to lower prices at a time when food prices have already been dropping for 17 months.
Don’t be complacent. The rescue of Spain’s troubled Banco Popular by Santander doesn’t mean its other banks are out of the woods. To the contrary, it only highlights that while Spain’s economy has come a long way since the depths of the downturn, many of its banks are still in a weakened condition and taxpayers are still out €12 billion in bailouts.
The world’s unlikeliest socialists. The residents of Kensington — the wealthiest constituency in London — include Britain’s future king, as well as bankers, celebrities and aristocrats. Despite its blue-blooded credentials, Kensington rejected the Conservative Party for the first time ever in last week's election, opting for Labour instead. Here’s why.
The great British roast. If you’ve just about digested your post-election Sunday lunch, it might be time to plan the next. Here are three fine places to go for a London beef roast, a robust dish that has been enjoyed for centuries.
Compiled by Andy Reinhardt and Leila Taha