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Good morning. I’m Mared Gwyn with the headlines and analysis from Brussels to start your week. Our EU editor Maria Tadeo is on the ground in New Delhi this morning, where talks on the EU-India trade deal are.

Major hedge funds like D.E. Shaw and Bridgewater Associates achieved significant double-digit gains in 2025, fueled by an AI-driven stock market rally and global economic volatility. These top performers navigated a year of record fluctuations, with some funds posting their highest profits ever, attracting substantial investor interest.