I have spent the past few weeks packing up my life and preparing to leave the US. But try not to read too much into the timing. While many Americans say that they’re considering their options ahead of the incoming administration and its very real potential for pandemonium, I’m hanging up my spurs with a heavy heart. For me, it has been an extraordinary three years of reporting all over this country, from the deepest south to the frigid north. If you asked me whether I had any insights for those trying to understand the present moment, I would offer an adage that has guided my time over here: never confuse the maelstrom of online America for the real thing.

EU countries are on course to spend a record €326bn on defence by the end of 2024, according to the European Defence Agency (EDA). This marks the ninth year in a row that the bloc’s combined defence spending has risen. The EDA’s announcement comes at a crucial moment. Donald Trump, who will be inaugurated as US president for a second time in January, has repeatedly criticised some European nations for failing to spend enough on defence.

Jacinta Allan, the premier of Victoria, has announced the construction of a large-scale solar and battery farm that will be capable of powering 51,000 homes. The SEC Renewable Energy Park is expected to open in 2027 in the city of Horsham and will include a 119-megawatt solar facility and a 100-megawatt two-hour battery. With a budget of AU$370m (€230m), a further $42,000 (€26,000) due to be spent in the area in each year of construction and $70,000 (€43,000) every year afterwards, the park will be Australia’s first fully government-owned energy project since its electricity grid was privatised in the 1990s.

Finnish multinational Amer Sports saw its revenues rise by 17 per cent to €1.3bn in the third quarter of 2024. This growth was largely down to Arc’teryx and Salomon, which have become the stars of the group’s portfolio and grabbed market share from sportswear giants such as Adidas and Nike.

In the latest issue of Monocle: The Entrepreneurs, we asked 20 business leaders at the top of their game to share their advice for those who are just starting out. For more insights, pick up a copy of the magazine or tune in to The Entrepreneurs on Monocle Radio.

1. Focus on development
“Our skincare line took more than three years to perfect in an award-winning lab in Osaka. Japan leads the way in product innovation, constantly rethinking and reinventing formulas. That approach was our driving force. We kept our range minimal to start with. Every detail had to be right.”
Nora Kato, co-founder, Ipsum Alii, a skincare brand based in Zürich that sells Japan-made products.

2. Play to your strengths
“I often describe our business as the ‘smallest developer in Hong Kong’. We try to avoid direct competition with the big players by being selective about the sites that we pick.”
Keith Kerr, founder and chairman, The Development Studio, a property developer in Hong Kong.

3. Take inspiration from the best
“Longchamp’s Le Pliage has long dominated the global bag market but is it still cutting edge? We questioned to what extent it was sustainable and functional when we were designing our own bag. We have since crafted the ultimate versatile tote. It’s lightweight, spacious and stylish – a Mary Poppins bag for your life.”
Lili Radu, co-founder, Vee Collective, a brand of totes.

For more entrepreneurial tips, buy the latest issue of ‘Monocle: The Entrepreneurs’, available online and on newsstands now.

We meet the co-founder of European Sleeper, a railway company reviving night trains and connecting great cities across the continent. And to ensure we’re travelling in style, we’ll hear from the founder of Tom Àdam, a Berlin-based loungewear brand revered for its PJs.