Photographer: Daniel Sorabji/AFP via Getty Images
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How many problems can Theresa May juggle at once? The British prime minister has just lost a cabinet minister for the second week in a row after international development secretary Priti Patel resigned this evening. On Monday, Patel said she had held a series of unauthorized meetings with Israeli officials behind the prime minister’s back, and on Tuesday, more came to light. Defense Secretary Michael Fallon resigned last week amid allegations over his past behavior toward women. For some, May’s latest headache is yet another demonstration of her weakness. — Tim Ross and Robert Hutton
U-turn. Here’s one approach to resolving the myriad challenges posed by Brexit: prevent it from happening. That’s the suggestion of Germany’s Council of Economic Experts in its annual report to Chancellor Angela Merkel. The economists say that the cost of Brexit will be significantly greater to the U.K. than to the rest of the EU. Oxford Economics echoed those sentiments in a report warning that the impact of a cliff-edge Brexit on U.K. growth would be 10 times greater than for Germany, France or Italy.
Electric race. It’s not Tesla that’s pressuring European carmakers to lurch into the future—it’s the European Union. A draft EU law looks to close a gap with China by seeking tighter emission curbs on manufacturers like Volkswagen and Fiat Chrysler. The plan would mean gradual reductions in carbon dioxide discharges and would give incentives for automakers to shift to electric vehicles. If written into law, it could accelerate Europe’s attempt to push the internal combustion engine from showrooms into museums.
(Tough) luck of the Irish. Residents of a tiny village in the west of Ireland have been let down by tech giant Apple, which was planning to build a $1 billion data center there but appears to have changed its mind. Two years after it was first announced, Apple CEO Tim Cook last week refused to give Irish Prime Minister Leo Varadkar guarantees it would go ahead. Advocates of the project say the dispute could undermine Ireland’s efforts to draw overseas investment.
Risky bet. Relying on the voice of the people to solve political dilemmas can be a dangerous strategy; Witness the outcome of David Cameron’s Brexit referendum. Even so, Spanish prime minister Mariano Rajoy is hoping he can uncover a silent, pro-Spain majority in Catalonia that can help him restore order to the rebel region. A massive turnout in next month’s regional election could silence the secessionists. But if Catalan fervor prevails, the crisis will take a dramatic new turn.
Dinner with Alwaleed. A Bloomberg reporter spent an evening in the desert with Prince Alwaleed bin Talal just days before his arrest in a sweeping crackdown by the Saudi government. Alwaleed—a prominent international investor worth $17.8 billion, who spoke out for women’s rights and made friends with Bill Gates and Rupert Murdoch—is the most high-profile of those caught up in the purge. “If Alwaleed had any inkling of what was to come, he didn’t show it,” writes Eric Schatzker.
Hi-tech luxury. What happens when one of the world’s top research universities gets into the electric car game? The Terzo Millenio, Lamborghini’s new concept car, is the product of a partnership between the Italian automaker and the Massachusetts Institute of Technology. It looks like a Lamborghini, with a lean, windswept design and a low body, but the automaker plans to develop supercapacitators that would allow for all-electric models, and a body that can repair itself, among other features.
Compiled by Andy Reinhardt and Leila Taha