European Union leaders failed to clinch a deal on its next long-term budget as deep divisions over spending bubbled up in the aftermath of Brexit. After a 28-hour extraordinary summit in Brussels, officials conceded it was impossible to nail down a seven-year spending plan and agreed to reconvene at a future date, according to an official familiar with the matter. The final accord will signal whether Europe is prepared to spend more collectively to further its goals, whether it wants to prioritize innovation over handouts to traditional industries and whether it’s prepared to wield its financial muscle to force ... (full story)