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The US Marines' new amphibious combat vehicle made its first overseas deployment in the Philippines. AdvertisementThe Marine Corps ' new amphibious combat vehicle, or ACV, debuted in the Philippines as part of its first overseas deployment after more than a year-and-a-half of limited operations. AdvertisementA US Marine Corps amphibious combat vehicle splashes off the amphibious dock landing ship USS Harpers Ferry (LSD 49) during Exercise Balikatan 24 in Palawan, Philippines. AdvertisementUS Marine Corps amphibious combat vehicles conduct a towing exercise during Exercise Balikatan 24 in Palawan, Philippines. That vehicle, called the amphibious assault vehicle, or AAV, had been used since the 1970s.
Persons: , ACVs, Col, Sean Dynan, Lance Cpl, Peyton Kahle, Matthew Bylski, Chris Mahoney, Boxer, Military.com Organizations: US Marines, Service, Corps, Marines, Pacific, 15th Marine Expeditionary Unit, Marine Corps, US Marine Corps, . Locations: Philippines, Philippine, South, Camp Pendleton , California, Palawan, Oyster Bay, USS Somerset, San Diego
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrance, Germany and China trying to create positive tit-for-tat relationship, professor saysDouglas Yates, professor at the American Graduate School in Paris, discusses how President Xi's recent trip to France reflects China and the EU's attempt to navigate increasing polarisation, subsidies and Russia.
Persons: Douglas Yates, Xi's Organizations: American Graduate School Locations: France, Germany, China, Paris, Russia
Xi is spending two days in France, meeting French President Emmanuel Macron on Monday before heading to Serbia and Hungary. "I'm calling for an 'aggiornamento' because China is now in excess capacity in many areas and exports massively to Europe," Macron told La Tribune Dimanche, per a Bloomberg translation. She said China's trade practices are leading to unfair trade that are "market-distorting" and "could lead to deindustrialization in Europe." China has pushed back on the West's claims of overcapacity, accusing the bloc of being protectionist and of trying to curb China's economic development. However, Europe — like China — isn't quite the same anymore, following years of economic malaise punctuated by the pandemic and the war in Ukraine.
Persons: , Janet Yellen, Olaf Scholz, Xi Jinping's, Emmanuel Macron, Macron, Matt Geraci, Geraci, Ursula von der Leyen, Von, Leyen, Léonie Allard, Allard, Xi Organizations: Service, State Authority, European Union, Business, La Tribune Dimanche, Atlantic, Associated Press, European, overcapacity, Council's Locations: China, France, Serbia, Hungary, European, Germany, Europe, Beijing, Washington, Russia, Ukraine
Goldman Sachs just refreshed its lists of top global stock picks, adding some and removing others. The investment bank's "Conviction List - Directors' Cut" aims to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. The stocks are selected by a subcommittee designated by the bank's Investment Review Committee for each region. Here are three of the latest additions to Goldman's directors' cut lists — for Asia-Pacific and Europe — that were given more than 30% upside potential in the next 12 months. Goldman has a target price of 11,850 British pence ($148.71) on the stock, giving it around 30.7% upside potential.
Persons: Goldman Sachs, Goldman, London Stock Exchange Goldman, Oliver Carruthers, Samsung Biologics Goldman, Ziyi Chen, Michele Della Vigna, — CNBC's Michael Bloom Organizations: bank's Investment, London Stock Exchange, Microsoft, Samsung, Korean, EU's Renewable Energy, . Locations: Asia, Pacific, Europe, Korean
Vehicles set to be shipped to Europe, at Taicang Port on Dec. 19, 2022, in Suzhou, China. The European Union will need to levy higher-than-expected tariffs of up to 55% on Chinese electric vehicles to curb their imports into the bloc, according to a new analysis by Rhodium Group. The findings, released Monday, come amid the EU's ongoing anti-subsidy investigation into EV imports from China. Rhodium Group, which expects the EU to impose tariffs in the 15% to 30% range on Chinese EVs, said those tariffs were unlikely to be enough to check competition from China. Chinese EV makers are locked in an intense price war in their home market.
Persons: Tesla Organizations: Taicang Port, European, Group, EV, EU Locations: Europe, Taicang, Suzhou, China
Mark Zuckerberg, CEO of Meta testifies before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Meta on Tuesday was hit by the European Commission — the executive body of the European Union — with a major investigation into its compliance with the EU's strict internet content rules. The Commission said it is investigating Meta over concerns the company hasn't done enough to ensure effective combatting of disinformation ahead of upcoming European Parliament elections. The European Parliament elections are due to take place on June 6-9. "We look forward to continuing our cooperation with the European Commission and providing them with further details of this work."
Persons: Mark Zuckerberg, Meta Organizations: Dirksen, Meta, European Commission, European, DSA, Services, EU, Facebook, CNBC Locations: Washington ,
The European Commission said users are "locked in" to iPadOS and it's hard for them to switch. It comes as a part of a broader crackdown on "gatekeepers" and a market investigation into Apple. The DMA was designed to ensure fairness and healthy competition in the digital landscape and hold Big Tech "gatekeepers" accountable. In September, the EU Commission designated Alphabet, Amazon, Apple, ByteDance, Meta, and Microsoft gatekeepers. The EU said Monday that its iPadOS investigation found it has "features of a gatekeeper."
Persons: , Apple's iPadOS, Margrethe Vestager, Apple didn't Organizations: EU, Digital, European Commission, Apple, Service, European, Big Tech, Business, EU Commission, Meta, Microsoft
Amazon execs used messaging app Signal to discuss business matters, the Federal Trade Commission said. The agency wants to know if execs told Amazon staff to delete messages, and when to use Signal. AdvertisementAmazon's top executives used the encrypted messaging app Signal to discuss "sensitive business matters," the Federal Trade Commission said in a court filing on Thursday. The founder said, "Are you on signal messaging app? "Amazon also recognizes that sellers believe 'that it has become more difficult over time to be profitable on Amazon,'" the FTC filing stated.
Persons: execs, , Jeff Bezos, Andy Jassy, David Zapolsky, Jeff Wilke, Dave Clark, Tim Doyle, Mike Hopkins, Carlo Bertucci, Amazon's, Zapolsky Organizations: Federal Trade Commission, Amazon, Service, FTC, Amazon MGM Studios
Health-harming heat stress rising in Europe, scientists say
  + stars: | 2024-04-22 | by ( ) www.cnbc.com   time to read: +1 min
A homeless man begs for money in a street of Bordeaux, southwestern France on August 24, 2023, as a heatwave sweeps across France. In a report on Europe's climate, Copernicus and the WMO noted last year's extreme conditions, including a July heatwave which pushed 41% of southern Europe into strong, very strong or extreme heat stress - the biggest area of Europe under such conditions in any day on record. Extreme heat poses particular health risks to outdoor workers, the elderly, and people with existing conditions like cardiovascular diseases and diabetes. Heat stress measures the impact that the environment has on the human body, combining factors like temperature, humidity and the body's response, to establish a "feels like" temperature. Parts of Spain, France, Italy and Greece experienced up to ten days of extreme heat stress in 2023, defined as a "feels like" temperature of more than 46 degrees Celsius, at which point immediate action must be taken to avoid heat stroke and other health issues.
Persons: Copernicus Organizations: World Meteorological Organization, WMO Locations: Bordeaux, France, Europe, Italy, Lodi, Spain, Greece
This photograph taken on April 11, 2024, in Paris, shows the logo of the Chinese social network application TikTok Lite displayed in Apple's App Store. Users aged 18 or older can "collect points by discovering new content or completing certain actions," the social network said. The European Union on Monday opened proceedings against ByteDance's TikTok and threatened to suspend its newly launched TikTok Lite rewards program, where users can earn points for liking content or inviting friends to the app. The European Commission, the EU's executive arm, said TikTok had 24 hours to provide a risk assessment report for TikTok Lite or face fines. Children are thought to be at risk given the suspected absence of effective age verification mechanisms on TikTok, the EU said.
Persons: ByteDance's TikTok, TikTok, Margrethe Vestager Organizations: European Union, European Commission, TikTok, CNBC, EU, Digital Services Locations: Paris, France, Spain, EU
Trade is being weaponized, EU's Dombrovskis says
  + stars: | 2024-04-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade is being weaponized, EU's Dombrovskis saysEU's Commissioner for Trade Valdis Dombrovskis discusses global trade at the International Monetary Fund Spring Meetings.
Persons: EU's Dombrovskis, Trade Valdis Dombrovskis Organizations: Trade, International Monetary
Global airlines are governed by nine "freedoms of the air," drafted 80 years ago in 1944. The fifth freedom can give airlines a competitive edge and help capitalize on demand. "Five Freedom Agreements"Qantas flies a Boeing 787 on its fifth freedom route between Sydney and New York. Seventh FreedomThe seventh freedom is similar to the fifth freedom but takes out the limitation of where the route must start or end. Ninth FreedomAdvertisementThis cabotage freedom allows an airline of one nation to fly between two points in a separate single country.
Persons: , Vytautas Kielaitis, Taylor Rains, Toshi, Nicolas Economou Organizations: Service, International Civil Aviation Organization, United Nations, Chicago Convention, ICAO, Chicago, European Union, Singapore Airlines, Airbus, Qantas, Google Flights, United Airlines, FAA, Emirates, Latam Airlines, Atlantic . Emirates, luxe, Forbes, Air Senegal, Boeing, Ryanair, Getty, Nice Locations: New York, Singapore, Frankfurt, Germany, Emirates, JFK, Milan, Newark, Athens, Dubai, Australian, Sydney, Auckland , New Zealand, Cebu, Philippines, Tokyo, , Mexico City, Barcelona, Santiago, Chile, Auckland, Amsterdam, Buenos Aires, Los Angeles, Australia, Dakar, Baltimore, Ireland, Rome, Vilnius, Lithuania, Paris
Ukraine has identified 100 Patriots that it believes its allies can spare, its foreign minister said. AdvertisementUkraine's foreign minister said his team had identified more than 100 Patriot air-defense systems that its allies could spare, as the country struggles with munition shortages against Russian attacks. Ukraine has between three and five Patriot systems; the exact number and location of their deployment have been kept secret. Related storiesUkrainian President Volodymyr Zelenskyy said earlier this month that Ukraine needs 25 Patriot systems with between six and eight batteries each to protect the country fully. AdvertisementThe Post reported that Zelenskyy told Kuleba to focus on persuading countries with spare Patriot systems to transfer them to Ukraine.
Persons: Dmytro Kuleba, , Volodymyr Zelenskyy, Zelenskyy, Kuleba, Anthony Sweeney, US Army Kuleba, Josep Borrell, Borrell Organizations: Patriots, Service, Washington Post, Patriot, US Army, Congress, U.S, Army, Post, Getty Locations: Ukraine, Greece, Russia, Zaporizhzhia, NATO, Brussels
European Commission President Ursula von der Leyen speaks during a press conference, Nurphoto | Getty ImagesEuropean Commission chief Ursula von der Leyen on Tuesday said that Europe must talk tough with China on its perceived unfair trade practices, echoing calls a day earlier from U.S. Treasury Secretary Janet Yellen. Speaking ahead of German Chancellor Olaf Scholz's trip to Beijing later this week, von der Leyen said European companies should have the same market access in China as Chinese firms have in Europe, according to comments cited by Reuters. She also urged the German leader to take a hard stance with Chinese authorities about overcapacity and unfair competitive practices. Chinese overcapacity concernsChinese overcapacity has become a major point of diplomatic tension, with the U.S. and its allies contesting that excess production and subsidized goods from China are undercutting domestic businesses. It also contests that the U.S. — through initiatives such as the Inflation Reduction Act — is subsidizing its own manufacturing industry.
Persons: Ursula von der Leyen, Janet Yellen, Olaf Scholz's, von der Leyen, Yellen, CNBC's Sara Eisen, Commerce Wang Wentao Organizations: Getty, European Commission, Treasury, Reuters, Monday, CNBC, U.S, China's, Commerce Locations: Europe, China, U.S, Beijing
Scientists on Tuesday confirmed that last month was the hottest March on record, extending an extraordinary run of global heat that has renewed calls for an urgent reduction in planet-warming greenhouse gas emissions. The record-breaking run stretches back to June last year. "The global average temperature is the highest on record, with the past 12 months being 1.58°C above pre-industrial levels. Chloe Brimicombe, a climate researcher at Austria's University of Graz, told CNBC that yet another month of record-breaking global heat was due to human-caused climate change. "It could be one very long hot summer and not in a good way."
Persons: Samantha Burgess, C3S, Chloe Brimicombe, We've, Brimicombe Organizations: Austria's University of Graz, CNBC, Southern Hemisphere Locations: Central Europe, Europe
This could create a "China shock 2.0" that impacts other economies around the world. AdvertisementThis is just one of the industries the world is bracing for in the next phase of the "China shock." What happened in China shock 1.0? How Beijing could be creating China shock 2.0Now, China is targeting three new strategic industries that the rest of the world is also eyeing. What are the US and the rest of the world doing about China shock 2.0?
Persons: , Xi, David H, Autor, David Dorn, Gordon H, Hanson, Rajiv Biswas, who's, Biswas, keener, Janet Yellen, Yellen, it's, Wang Wenbin, Wang, Nomura Organizations: Service, Beijing, OECD, European Union, Department of Energy, Treasury, European Commission, EU, Act, Wall Street, Bloomberg Locations: China, EU, Beijing, Communist China, Georgia, Southeast Asia, Africa, Latin America
Hungary's Prime Minister Viktor Orban arrives to attend a European Council summit at the EU headquarters in Brussels on March 21, 2024. Sameer Al-doumy | Afp | Getty ImagesHungarian Prime Minister Viktor Orban has run into political trouble ahead of European parliamentary elections in June, with his ruling party shaken by two political scandals within six weeks. Orban is a long-time ally of former U.S. President Donald Trump and widely seen as Russian President Vladimir Putin's closest supporter in the European Union. The right-wing leader has led the central European country since 2010, making him the EU's longest-serving head of state. Yet two major scandals have recently rocked his dominance of Budapest's political landscape at a sensitive time when Hungary is poised to hold both local and European elections in early June.
Persons: Viktor Orban, Sameer Al, Orban, Donald Trump, Vladimir Putin's, Peter Magyar, Janos Kummer, Zsuzsanna Vegh, Vegh, Magyar, Judit Varga —, Katalin Novak, Novak, Varga, William Shakespeare Organizations: Hungary's, EU, Afp, Getty, Hungarian, European Union, Eurasia Group, Fidesz, German Marshall Fund of, CNBC, Facebook, YouTube, Reuters, Lawyer Locations: Brussels, doumy, Hungary, Budapest, United States, Hungarian
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe EU probe into Big Tech companies is 'effectively noise', says Deepwater's Gene MunsterGene Munster, Deepwater Asset Management managing partner, joins 'Squawk Box' to discuss the EU's investigation into Apple, Alphabet and Meta under the new 'Digital Markets Act' tech legislation, the potential impact on the Big Tech companies, Apple's stock performance, and more.
Persons: Deepwater's Gene Munster Gene Munster Organizations: EU, Big Tech, Deepwater Asset Management, Apple
The farmers were protesting anything from what they see as excessive red tape to increased environmental measures, cheap imports and unfair trading practices. “Let us make a living from our profession,” read one billboard on a huge tractor blocking a main thoroughfare. Environmentalists and climate activists say the change in EU policies under the duress of protesting farmers is regrettable. Photos You Should See View All 60 ImagesPolitically, the bloc has moved to the right over the past year. The plight of farmers has become a rallying cry for populists and conservatives who claim EU climate and farm policies are little more than bureaucratic bungling from elitist politicians who have lost any feeling for soil and land.
Persons: Organizations: European Union, Belgian, EU, European Commission Locations: BRUSSELS, Brussels, Finland, Greece, Poland, Ireland
(Photo by Dursun Aydemir/Anadolu Agency via Getty Images)The first two probes focus on Alphabet and Apple and relate to so-called "anti-steering rules." The European Union on Monday opened an investigation into Apple , Alphabet and Meta , in its first probe under the sweeping new Digital Markets Act tech legislation. "The way that Apple and Alphabet's implemented the DMA rules on anti-steering seems to be at odds with the letter of the law. Apple and Alphabet will still charge various recurring fees, and still limit steering," EU competition chief Margrethe Vestager said during a press conference on Monday. "We're confident our plan complies with the DMA, and we'll continue to constructively engage with the European Commission as they conduct their investigations.
Persons: Margrethe Vestager, Dursun Aydemir, Apple, Oliver Bethell Organizations: European Commission, Anadolu Agency, Getty, Digital Markets, Google, European Union, Apple, Markets, CNBC Locations: Europe, Brussels, Belgium
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's business model is intact & unlikely to be materially impacted by regulation: Toni SacconaghiToni Sacconaghi, Bernstein senior research analyst, joins 'Squawk Box' to discuss EU's probe into Big Tech companies, the DOJ's antitrust lawsuit into Apple, what it means for Apple going forward, and more.
Persons: Toni Sacconaghi Toni Sacconaghi, Bernstein Organizations: Big Tech, Apple
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalter Isaacson: The law says you can't use market dominance to then dominate an adjacent fieldWalter Isaacson, Perella Weinberg advisory partner and ‘Elon Musk’ author, joins 'Squawk Box' to discuss the EU's investigation into Big Tech, the comparison to Standard Oil, impact on markets, and more.
Persons: Walter Isaacson, Perella Weinberg, ‘ Elon Musk Organizations: Big Tech
More smartwatch optionsA Google Pixel Watch and the iPhone don't play as nicely together as an Apple Watch and the iPhone. GoogleIf the Apple Watch isn't your cup of tea, a court loss for the company could make using an alternative watch with the iPhone more seamless. Prosecutors said the Apple Watch depends too much on the iPhone while other smartwatches aren't nearly as compatible with the iOS system. iOS users might have been overcharged for music streaming subscriptions due to the fees placed on app developers by Apple, regulators said. "This lawsuit threatens who we are and the principles that set Apple products apart in fiercely competitive markets," Apple told BI in a statement.
Persons: , Apple's, you'll, Apple, Jonathan Kanter, Kanter, Riley Testut, Jamie Court, you've, they've, Testut Organizations: Apple, DOJ, Service, US Department of Justice, CNBC, EU's, EU, Epic, Consumer, LA Times, Watch, Apple Watch, Google, Prosecutors, European Commission Locations: EU
Some critics of the suit believe it could make the iPhone worse, leading to security concerns and a less seamless experience. But is that something that iPhone users really want? The DOJ filed an antitrust lawsuit against Apple on Thursday. AdvertisementFor its part, Apple has argued that the DOJ's lawsuit could pose any number of issues for iPhone users — from security and privacy concerns to a degradation in user experience. A less seamless user experienceThe DOJ's lawsuit could also have a detrimental impact on Apple's signature user experience, according to some experts.
Persons: , Apple, Jeff Chiu, Tim Cook, Cook, Benedict Evans, Evans, Jennifer Huddleston, Koch, Huddleston, Adam Kovacevich, Dave Lee, Lee, Forrester, Dipanjan Chatterjee, Apple's, Chatterjee, Fortune Organizations: DOJ, Apple, Service, US Department of Justice, AP, Union's, Venture, Cato Institute, Apple Watch, of, Big Tech, Bloomberg
"What we see right now is the unfolding of a slow-motion train accident," he told reporters at a briefing last week. "That's when trade becomes a security question and I think that is perhaps not fully appreciated in China just yet." There needs to be an honest conversation between Europe and China about what this is going to mean. The EU was China's largest regional trading partner until Southeast Asia recently surpassed it. The U.S. is China's largest trading partner on a single-country basis.
Persons: Jens Eskelund, Eskelund, I've, Markus Herrmann Chen Organizations: Future Publishing, Getty, European Union Chamber of Commerce, EU, of Commerce, Investment, China Macro Locations: Hefei, Anhui province, BEIJING, Europe, Beijing, China, Southeast Asia, U.S
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