The bloc’s economy may contract later this year, Morgan Stanley economists predict The euro area will slip into a mild recession in the fourth quarter of this year amid reduced energy supplies from Russia, according to a report by Morgan Stanley published on Wednesday and seen by Bloomberg.

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Hundreds of millions worth of arms and other military aid were included in the new budget The Australian government has earmarked AU$213.3 million (US$136mn) in additional spending for aid to Ukraine over the next five years. The funding is part of the new federal budget revealed on Tuesday.