EU high representative for foreign affairs and security policy Kallas said the EU needs to impose higher costs on Russia as it takes greater risks.

Lockheed Martin (LMT.N) won a $1.2 billion contract after the second at-sea test of the second production lot of its Precision Strike Missile (PRSM) and plans additional flight tests in 2027.

BoC Governor Macklem said future interest-rate policy will depend on how businesses and households respond to elevated energy prices and a resurgence in trade uncertainty, and that BoC officials stand ready to adjust policy as those risks evolve. He added that if inflationary pressures ease the bank would not want to slow growth by raising the policy rate, but if inflation proves more persistent the bank does not want to be slow to react.