The latest news of the day, continuously updated 24h. From official news sources such as CNN, BBC, VOA, Inside Science,...

Since Pope Leo XIV's election in May, Chicago has seen a surge in “pope economy” business as locals celebrate a hometown figure leading the Catholic Church. Entrepreneurs are selling pope-themed products—from beer and T‑shirts to coasters and baby onesies—while civic pride drives strong demand.

At Burning Bush Brewery, Brent Raska's “Da Pope” ale, featuring Leo's image with a Chicago scarf, sold out 1,000 cans in three weeks. Urban Artisan in Geneva created items like T‑shirts showing Leo with Old Style beer and Malort or holding an Italian beef sandwich on baby onesies, boosting sales 20% at festivals.

Beyond merchandise, Pope Leo's childhood home in Dolton was purchased for $375,000 to become a historic site, attracting visitors. Even sports gear is getting a lift: Grandstand near Rate Field began selling No. 14 White Sox jerseys with “Pope Leo 14” on the back, shipping hundreds globally. Fans now wear pope-themed apparel at games, seeing him as a symbol of Chicago pride.

Local leaders and shop owners agree his rise has created fresh energy, new revenue, and a unifying moment for the city.

Beef prices in the U.S. have hit record highs, climbing nearly 9% since January to $9.26 a pound, with steak and ground beef up over 12% and 10% year-over-year. Unlike eggs, which dropped in price after avian flu recovery, beef is harder to stabilize due to complex supply dynamics. Experts cite shrinking herds, ongoing drought, high feed costs, and thin rancher margins as key factors. Cattle numbers are at their lowest in 74 years, leading many ranchers to exit the industry.

Imports now make up about 8% of U.S. beef consumption, while exports have fallen sharply, a shift driven by America's status as the world's highest-priced beef market. Despite high costs, domestic demand remains strong. Companies like Walmart are opening their own beef facilities to cut costs and improve supply chain control.

Future prices may depend on consumer behavior; if economic uncertainty reduces demand, prices could decline. Industry analysts warn ranchers risk losses if cattle prices drop after buying at high levels, suggesting the market may be near its peak.

NATO's new pledge to raise defense spending to 5% of GDP by 2035 is stirring deep concern across Europe, where many member states already carry heavy debt burdens. Analysts describe the move as unprecedented in peacetime. While it responds to Russia's aggression and uncertainty over U.S. security guarantees, it forces countries to choose between cutting other programs, raising taxes, or borrowing more—options that are politically or fiscally fraught.

Most NATO members struggled for years to reach even the previous 2% target. The new goal allocates 3.5% of GDP to core military needs and 1.5% to supporting infrastructure, requiring tens of billions in additional spending annually. S&P Global warns this could add about $2 trillion in debt to Europe's NATO members by 2035. Aging populations and growing pension and healthcare costs make deep cuts unlikely, and experts say raising taxes lacks political support.

Debt levels are already high: Italy's stands near 135% of GDP, France's 113%, and Belgium's 105%. France's prime minister recently warned interest on its debt could hit €100 billion annually by 2029. The EU is offering a €150 billion defense fund and exempting defense outlays from fiscal rules, but some countries—like Spain—say they simply will not meet the 5% target. Analysts note proximity to Russia, rather than pledges, often dictates how much nations spend.