Luke Vargas

Finally, Alex, is there anything this trip didn't clear up? We began the week talking to Stephen Kalin. He was sort of saying maybe we could look at updates on efforts to get Saudi Arabia to normalize relations with Israel. Maybe we'd hear more about the situation in Gaza. If those things were a big topic of discussion, I'm not sure they really elbowed their way into the headlines very much.

Finally, Alex, is there anything this trip didn't clear up? We began the week talking to Stephen Kalin. He was sort of saying maybe we could look at updates on efforts to get Saudi Arabia to normalize relations with Israel. Maybe we'd hear more about the situation in Gaza. If those things were a big topic of discussion, I'm not sure they really elbowed their way into the headlines very much.

Alex Leary is a Wall Street Journal White House reporter and joined us from Abu Dhabi today. Alex, safe travels back to the U.S. Thank you so much for the update. My pleasure. The Trump administration is targeting the EU's rules to protect online users, framing a new pressure campaign as a defense of free speech and U.S. commercial interests.

Alex Leary is a Wall Street Journal White House reporter and joined us from Abu Dhabi today. Alex, safe travels back to the U.S. Thank you so much for the update. My pleasure. The Trump administration is targeting the EU's rules to protect online users, framing a new pressure campaign as a defense of free speech and U.S. commercial interests.

We exclusively report that last week, the State Department asked its offices around Europe for, quote, examples of government efforts to limit freedom of speech, end quote, according to a copy of the request reviewed by The Wall Street Journal. with another department communication seeming to refer to the EU's digital rules as part of the, quote, global censorship industrial complex.

We exclusively report that last week, the State Department asked its offices around Europe for, quote, examples of government efforts to limit freedom of speech, end quote, according to a copy of the request reviewed by The Wall Street Journal. with another department communication seeming to refer to the EU's digital rules as part of the, quote, global censorship industrial complex.

The EU's Digital Services Act, adopted in 2022, requires that digital platforms show they're taking steps to stop the spread of illegal content, as well as the use of disinformation to manipulate elections. EU officials say the law, which only applies in the EU, doesn't threaten free speech and and is designed to protect Europeans' basic rights and to keep children safe online.

The EU's Digital Services Act, adopted in 2022, requires that digital platforms show they're taking steps to stop the spread of illegal content, as well as the use of disinformation to manipulate elections. EU officials say the law, which only applies in the EU, doesn't threaten free speech and and is designed to protect Europeans' basic rights and to keep children safe online.

Meanwhile, Europe is struggling to attract global capital, with foreign direct investment to the region dropping to its lowest level in nine years, according to accounting firm EY. The UK, France, and Germany all saw double-digit declines. though they remain the three largest recipients of inflows, with London holding on to the title of Europe's most attractive city for investment.

Meanwhile, Europe is struggling to attract global capital, with foreign direct investment to the region dropping to its lowest level in nine years, according to accounting firm EY. The UK, France, and Germany all saw double-digit declines. though they remain the three largest recipients of inflows, with London holding on to the title of Europe's most attractive city for investment.

EY's Julie Tagland told me that 37% of businesses surveyed said they had scaled back their European investment plans, citing high energy costs, a sense of diminished growth prospects, and broader geopolitical uncertainty.

EY's Julie Tagland told me that 37% of businesses surveyed said they had scaled back their European investment plans, citing high energy costs, a sense of diminished growth prospects, and broader geopolitical uncertainty.

There are some positives, though, as Central, Eastern, and Southern Europe all saw a surge in FDI thanks to cheaper energy and labor costs, as well as ample available land. A majority of respondents also said they expect Europe will become increasingly attractive for investment over the long haul, especially for AI and renewables.

There are some positives, though, as Central, Eastern, and Southern Europe all saw a surge in FDI thanks to cheaper energy and labor costs, as well as ample available land. A majority of respondents also said they expect Europe will become increasingly attractive for investment over the long haul, especially for AI and renewables.

But in the meantime, Taglin told me European money is likely to be what's driving growth.

But in the meantime, Taglin told me European money is likely to be what's driving growth.

And the picture is turning gloomier in major Asian economies as well. Data out this morning showed Japan's economy shrinking 0.2 percent in the first quarter, the first GDP decline in a year. And as our Tokyo bureau chief Jason Douglas explains, more economic pain lies ahead.

And the picture is turning gloomier in major Asian economies as well. Data out this morning showed Japan's economy shrinking 0.2 percent in the first quarter, the first GDP decline in a year. And as our Tokyo bureau chief Jason Douglas explains, more economic pain lies ahead.

And that's it for What's News for this Friday morning. Today's show was produced by Daniel Bach. Our supervising producer is Sandra Kilhoff. And I'm Luke Vargas for The Wall Street Journal. We will be back tonight with a new show. Otherwise, have a great weekend. Thanks for listening.

And that's it for What's News for this Friday morning. Today's show was produced by Daniel Bach. Our supervising producer is Sandra Kilhoff. And I'm Luke Vargas for The Wall Street Journal. We will be back tonight with a new show. Otherwise, have a great weekend. Thanks for listening.