Reuters are reporting that European Union leaders are expected on Thursday to back a revamp of the single market, simplified regulations and other steps to ensure the bloc can compete with the United States and China as an industrial leader in green and digital technologies.

- The resentment of US's Inflation Reduction Act is obviously still a big factor. Plus we heard earlier this week that Germany is considering export controls to China. It could be an 'interesting' summer on the trade skirmish front (not quite a war, yet.)

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"EU leaders, meeting in Brussels from Thursday for a two-day summit, are expected to say the single market is essential to future economic growth, while highlighting areas for improvement. "The European Council calls for ambitious action to complete the single market, in particular for digital and services," draft conclusions of the summit say.

"The European Council calls for ambitious action to complete the single market, in particular for digital and services," draft conclusions of the summit say.

One issue of potential division is the extent to which state aid rules should be relaxed to allow public funds to be pumped into clean tech, although leaders are not expected to reach a conclusion on the topic at this summit."