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☆ TikTok suspends TikTok Lite rewards program in the EU amid regulatory scrutiny
▼ + stars: | 2024-04-25 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —TikTok said Wednesday it would suspend a controversial program in the European Union that has prompted growing alarm among EU regulators. The program at issue appears within TikTok Lite, a less data-intensive version of TikTok’s main app, and which contains a feature that rewards users with cash for engaging with TikTok content and app features. “TikTok always seeks to engage constructively with the EU Commission and other regulators,” TikTok said in a post on X. “We are therefore voluntarily suspending the rewards functions in TikTok Lite while we address the concerns that they have raised.”The EU warnings to TikTok reflected an exercise of new oversight powers granted by the Digital Services Act, the trading bloc’s recently enacted law governing online platforms. TikTok also faces further, additional fines of up to 6% of its global annual revenue if the TikTok Lite feature is determined to be in violation of the DSA.

Persons: Washington CNN — TikTok, TikTok, “, “ TikTok, ” TikTok, Joe Biden Organizations: Washington CNN, European Union, European Commission, EU Commission, Digital Services, TikTok, Commission, DSA, Wednesday Locations: European, Europe, United States, Israel, Ukraine

☆ EU raids offices of Chinese security equipment maker in subsidy probe
▼ + stars: | 2024-04-24 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +4 min

London CNN —European Union officials have raided the offices of a Chinese company as part of a probe into subsidies, exposing rising tensions between the bloc and one of its biggest trading partners. The European Commission said Tuesday that it carried out “unannounced inspections” at the premises of a company making and selling security equipment in Europe, which it suspects may have benefited unduly from state subsidies. “The commission has indications that the inspected company may have received foreign subsidies that could distort the (EU’s) internal market,” the EU’s executive body said in a statement on its website. The China Chamber of Commerce to the EU said Wednesday that it had been informed that a Chinese company was the target of the investigation. The Foreign Subsidies Regulation, which came into force last July, is aimed at addressing market distortions caused by subsidies from foreign governments and ensuring that EU companies are competing on a level playing field.

Persons: “, ”, ” Ursula von der Leyen, Janet Yellen Organizations: London CNN — European Union, European Commission, China Chamber of Commerce, EU, CNN Locations: Europe, Poland, Netherlands, Romania, China, Puglia, Italy, United States, Beijing

☆ TikTok to suspend TikTok Lite's reward programme amid EU concerns
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

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. The social network TikTok, owned by the Chinese company ByteDance, has launched a new application in France and Spain, called TikTok Lite, which allows its users to get paid by watching videos, it announced on April 10, 2024. Users aged 18 or older can "collect points by discovering new content or completing certain actions," the social network said. TikTok will voluntarily suspend its new app TikTok Lite's reward programme while it works to address EU concerns, the company said on X social media platform on Wednesday. The European Commission had given the ByteDance-owned company until today to address its concerns about the potentially addictive nature of the reward programme for children or face a temporary suspension of the feature.

Persons: TikTok Organizations: European Commission Locations: Paris, France, Spain

☆ Google is once again dictating the future of the online ad industry and all its rivals can do is brace for impact
▼ + stars: | 2024-04-24 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

When Google sneezes, the entire online advertising industry catches a cold. Google's announcement Tuesday that it would again delay its planned timeline for killing off third-party tracking cookies had long been anticipated by the digital advertising industry. Google has a 28% share of the online ad market, according to market research firm Emarketer (a sister company to BI). Regulators could step in to resolve the cookie chaosSome industry experts are hoping regulators will step in to untangle the mess. Amid the four years of confusion, chaos, and harumphing, there has been one consistent theme: When it comes to the future of online advertising, Google calls the shots.

Persons: Ciaran O'Kane, WireCorp, hasn't, Sundar Pichai, Stephen Lam, Mathieu Roche, James Rosewell, Google's, haven't, Pierre Devoize, Devoize Organizations: Google, Business, Gmail, Antitrust, US Department of Justice, European Commission, UK's, Markets Authority, CMA, Industry, IAB Tech, EU Google, Chrome, Movement Locations: FirstPartyCapital

☆ Paperwork is not going to solve the energy crisis, says Dutch minister Rob Jetten
▼ + stars: | 2024-04-23 | 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 EmailPaperwork is not going to solve the energy crisis, says Dutch minister Rob JettenRob Jetten, deputy prime minister and minister of climate and energy of the Netherlands, dicusses the importance of pushing the energy transition to the top of the European Commission's agenda.

Persons: Rob Jetten Rob Jetten Locations: Netherlands

☆ Apple sinks to 3rd place in China as iPhone sales slide
▼ + stars: | 2024-04-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

A slide in iPhone sales has left Apple in third place in China, per Counterpoint Research estimates. Chinese-based rivals Vivo and Honor outpaced Apple's sales in the first quarter of the year, per Counterpoint data. AdvertisementIn stark contrast with Apple's slide, Huawei sales soared by almost 70% compared with the first three months of 2023. Counterpoint research analyst Ivan Lam said in a note that Huawei's surge had directly affected iPhone sales in China. NurPhoto/Getty ImagesDespite the stiff competition, Lam said iPhone sales could still reverse their downward slide.

Persons: —, Apple's, Ivan Lam, Apple, Tim Cook, Cook, Lam Organizations: Apple, Service, Counterpoint Research, Vivo, Huawei, China, Forum, Publishing, Getty, European Commission, Department of Justice, Business Locations: China, Huawei's, Shanghai, Beijing, Europe

☆ Google search boss warns employees of 'new operating reality,' urges them to move faster
▼ + stars: | 2024-04-23 | by ( Jennifer Elias | ) www.cnbc.com time to read: +9 min

"If there's a clear and present market reality, we need to twitch faster, like the athletes twitch faster," he said. The spokesperson highlighted the addition of generative AI to search and improvements in search quality, adding, "There's lots more to come." In March, Google named company veteran Elizabeth Reid to the role of vice president, leading search and reporting to Raghavan. "We're in a new cost reality," Raghavan said. Demis Hassabis, Google's AI leader, said in February after the tool was taken down that it would be re-released in weeks.

Persons: Prabhakar Raghavan, Julia Nikhinson, Raghavan, Sundar Pichai, TikTok, dory, Elizabeth Reid, Ruth Porat, We've, Jonathan Raa, we've, they've, Demis, Bard, Pichai, That's Organizations: Google, US, Bloomberg, Getty, CNBC, Mazda, Microsoft, Google Gemini, Nurphoto, Union's, European Commission, Gemini Locations: Washington , DC, Mountain View , California, Silicon Valley, India, Brazil, Brussels, Belgium

☆ A new version of TikTok that rewards you with Amazon vouchers and gift cards for watching videos is facing a crackdown in Europe
▼ + stars: | 2024-04-23 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Read previewDigital regulators in Europe are clamping down on a new feature by TikTok that rewards users for consuming videos and interacting with creators, citing addiction concerns among children. The European Commission said on Monday that it had opened formal proceedings against TikTok Lite, a spinoff version of the TikTok app that uses less mobile data and launched in Spain and France in March. Users can earn such points on the Lite app by watching videos for up to 85 minutes daily. "We suspect TikTok 'Lite' could be as toxic and addictive as cigarettes 'light,'" said Thierry Breton, commissioner for the internal market in the EU. "The TikTok Lite rewards hub is not available to under 18s, and there is a daily limit on video watch tasks," the spokesperson said.

Persons: —, TikTok, Thierry Breton, Tiktok, TikTok didn't, Breton, it's Organizations: Service, European, Business, AFP, Digital Services Locations: Europe, Spain, France, EU

☆ TikTok could face EU fines and a suspension over sister app TikTok Lite
▼ + stars: | 2024-04-22 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

CNN —European officials are threatening TikTok with massive fines and a possible forced suspension this week of parts of a new spinoff app, launched this month, that regulators allege contains addictive features. The warnings target TikTok Lite, a less data-intensive version of TikTok’s main app which contains a feature that rewards users with cash for engaging with TikTok content and app features. EU officials fear the feature could be used to turn TikTok Lite users into addicts who can’t stop using the app and described it as an “experiment” on unwitting EU citizens in Spain and France where TikTok Lite has been made available. A decision to order the suspension could come as early as Thursday, commission officials told reporters on a conference call. TikTok could face further, additional fines of up to 6% of its global annual revenue if the TikTok Lite features the Commission is investigating are determined to be violations of the DSA.

Persons: ”, TikTok didn’t, TikTok, we’ve Organizations: CNN, European Union, EU, Digital Services, DSA, European Commission, Lite, Commission, TikTok Locations: Spain, France, European, United States, Israel, Ukraine, TikTok

☆ Giorgia Meloni Is Leading the Far-Right Takeover of Europe - The New York Times
▼ + stars: | 2024-04-22 | by ( David Broder | ) www.nytimes.com time to read: +2 min

Yet for all the apocalyptic anger, this wasn’t a call to quit the European Union. In this project, they have a model: Prime Minister Giorgia Meloni of Italy. Ms. Meloni is already an inspiration to the European far right. For the European far right, poised for an advance, Ms. Meloni is leading the way. Since coming to power in October 2022, Ms. Meloni has impressed many with her pragmatic approach and abandonment of her previous criticism of the European Union.

Persons: “ There’s, Marion Maréchal, sulfurously, Giorgia Meloni, Meloni, “ Orban, Viktor Orban’s Organizations: L.G.B.T.Q, European Union, NATO, Ukrainian, European Commission Locations: Europe, European Europe, “, Italy, Brussels, Hungary, Ukraine

☆ EU threatens to suspend TikTok Lite’s money-for-views program over addiction fears
▼ + stars: | 2024-04-22 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

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

☆ Meta Platforms gets billions from China without headaches many U.S. companies face there
▼ + stars: | 2024-04-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

As many American companies struggle to navigate the world's second-largest economy, Meta Platforms has found itself raking in billions of dollars from China without the direct challenges of doing business there. The influx in spending from Chinese ecommerce advertisers has been a "significant positive" for Meta, said Rohit Kulkarni, analyst at Roth MKM covering internet companies. Many American companies doing business in China have battled similar challenges as the post-Covid recovery there has progressed slower than expected. Meta has said it has a "diverse advertiser base" of Chinese companies. The concern is that as more Chinese advertisers target American consumers through Meta's platforms, that could drive up the price of ads for everyone.

Persons: Temu, Rohit Kulkarni, Roth, Meta's, Piper Sandler, Tom Champion, Estee Lauder, Meta, Susan Li, Shein, Kate Scott, Dawkins, —, Roth's Kulkarni, Piper Sandler's, they're, Josh Silverman, we're, Piper, doesn't, Jim Cramer's, Jim Cramer, Jim, Facebook Mark Zuckerberg, Kenzo Tribouillard Organizations: Club, Super, U.S, Meta, Apple, Facebook, Tencent, Holdings, Nasdaq, CNBC, Wall Street, Google, European Commission, AFP, Getty Locations: China, Ireland, Shanghai, Singapore, U.S, Meta, Brussels

☆ EU antitrust chief Margrethe Vestager on regulating Apple, Microsoft, and big tech
▼ + stars: | 2024-04-19 | 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 EmailEU antitrust chief Margrethe Vestager on regulating Apple, Microsoft, and big techMargrethe Vestager, European Commission Executive Vice President, discusses probes into Apple and Microsoft, along with the Digital Markets Act.

Persons: Margrethe Vestager Organizations: Apple, Microsoft, European, Digital

☆ German cars are the best in the world, its finance minister insists: 'They do not have to fear Chinese competition'
▼ + stars: | 2024-04-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Christian Lindner (FDP), Federal Minister of Finance, is on his way to a bilateral meeting with US Treasury Secretary Yellen at the headquarters of the World Bank. Bernd von Jutrczenka | Picture Alliance | Getty ImagesGerman carmakers do not have to fear competition from China and are still considered the best in the world, German Finance Minister Christian Lindner told CNBC. "German car manufacturers are world leading, they do not have to fear Chinese competition," Lindner said. Competition in the electric vehicle, or EV, market in China and Europe, as well as the U.S., has been heating up in recent months. This came ahead of Scholz's visit to China earlier this month, during which he warned against unfair competitive and trade practices.

Persons: Christian Lindner, Yellen, Bernd von Jutrczenka, CNBC's Karen Tso, Lindner, China's BYD, Tesla, Janet Yellen, Ursula von der, Wang Wentao, Olaf Scholz Organizations: Federal, of Finance, US, World Bank, Getty, German, CNBC, Washington , D.C, European Union . U.S, Treasury, European Commission, European Union, Commerce, EV, Reuters Locations: China, Washington ,, Europe, U.S, EVs, EU

☆ Opinion | The Fantasy of Reviving Nuclear Energy
▼ + stars: | 2024-04-18 | by ( Stephanie Cooke | ) www.nytimes.com time to read: +2 min

Thirty-four nations, including the United States and China, agreed “to work to fully unlock the potential of nuclear energy,” including extending the lifetime of existing reactors, building new nuclear power plants and deploying advanced reactors. “Nuclear technology can play an important role in the clean energy transition,” Ursula von der Leyen, the president of the European Commission, told summit attendees. Solar and wind power together began outperforming nuclear power globally in 2021, and that trend continues as nuclear staggers along. At the same time, investment in energy storage technology is rapidly accelerating. In 2023, BloombergNEF reported that investors for the first time put more money into stationary energy storage than they did into nuclear.

Persons: “, Ursula von der Leyen, BloombergNEF Organizations: International Atomic Energy Agency, “, European Commission Locations: Brussels, Belgian, United States, China

☆ 'We need to invest in our future': EU official calls for mobilization of capital
▼ + stars: | 2024-04-18 | 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 Email'We need to invest in our future': EU official calls for mobilization of capitalMairead McGuinness, European Commission for financial services, financial stability and capital markets union, stresses the need for the EU to invest in its future and mobilize capital in order to build resilience.

Persons: Mairead McGuinness Organizations: EU, Commission

☆ Top EU official warns on 'weaponization of trade' as tensions ramp up between the U.S. and China
▼ + stars: | 2024-04-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Valdis Dombrovskis, Vice-President of the European Commission for the Euro & Social Dialogue, photographed at the Renaissance Harbour View Hotel in Wan Chai. 02DEC17 SCMP/ Xiaomei Chen (Photo by Chen Xiaomei/South China Morning Post via Getty Images)The European Union's trade chief on Wednesday warned against the "weaponization" of trade amid the latest ratcheting up of tensions between the U.S. and China. EU trade commissioner Valdis Dombrovskis told CNBC that he did not believe trade "protectionism" was the answer to heightened geopolitical tensions, but insisted that the bloc was willing to defend itself in the new trade environment. "The geopolitical landscape is changing, it's getting more fragmented, it's getting more conflictual, we see the weaponization of trade. So we need to equip ourselves also as the European Union to function in this more conflictual world," Dombrovskis told CNBC's Karen Tso.

Persons: Valdis Dombrovskis, 02DEC17, Xiaomei Chen, Chen Xiaomei, Dombrovskis, Karen Tso, Mario Draghi, Joe Biden, Katherine Tai Organizations: European Commission, South China Morning, Getty, U.S, CNBC, European Union, European Central Bank, U.S . Trade Locations: Wan Chai, South, China, EU, Pennsylvania, U.S

☆ EU economics chief says the region needs a 'more assertive' industrial policy and competitiveness
▼ + 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 EmailEU economics chief says the region needs a 'more assertive' industrial policy and competitivenessPaolo Gentiloni, Commissioner for Economy, European Commission joins CNBC's Karen Tso on the sidelines of the International Monetary Fund Spring Meetings.

Persons: Paolo Gentiloni, Karen Tso Organizations: EU, Economy, Commission, International Monetary

☆ A shift to renewable energy is 'hopeless' without efficiencies, environmentalist says
▼ + stars: | 2024-04-17 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +3 min

Daniel Bosma | Moment | Getty ImagesExplorer and environmentalist Bertrand Piccard has called for a renewed focus on cutting energy waste, saying it's "hopeless" to shift to renewables without improving efficiency. "So if we try to replace fossil [fuel] energy with renewables without being efficient, without reducing the consumption, it's hopeless," he said. Another issue Piccard highlighted was that some countries only consider wind and solar as alternative renewable energy sources. Geothermal energy accounted for just 2.7% of renewable energy consumption, while wind power was 13.2% and solar energy was 7.2%. 'Paradox' of China's solar panel oversupplyPiccard also discussed the ongoing concerns about the potential oversupply of solar panels from China to the European market.

Persons: Daniel Bosma, Bertrand Piccard, Piccard, CNBC's Silvia Amaro, bioenergy, Janet Yellen Organizations: CNBC, Solar Impulse, European Commission, Treasury Locations: Netherlands, Europe, China, U.S

☆ Ad transparency tools are 'major disappointment' ahead of election, new study shows
▼ + stars: | 2024-04-16 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

That's according to research out Tuesday from Mozilla and CheckFirst, which concludes that leading tech platforms are lagging in their ad transparency tools. None of the results were great, and some were "a major disappointment," according to the researchers. "This is now no longer something that's voluntary," Claire Pershan, EU advocacy lead at Mozilla, told CNBC. It's troubling news as the major platforms prepare for a huge year of elections that affect upward of 4 billion people in more than 40 countries. Lesplingart told CNBC that users had to know the advertiser name, targeted country and date of the advertisement in order to export to an ad file.

Persons: Sundar Pichai, Microsoft's Bing, Claire Pershan, Amaury Lesplingart, CheckFirst, Josh Becker, Lesplingart, Bing, Alibaba's, Zalando, Booking.com, TikTok, it's, we'd Organizations: Inc, Government, Society, Mozilla, Google, LinkedIn, Union's Digital Services, CNBC, Democratic, X, European Commission, DSA, Meta, YouTube Locations: Stanford , California, U.S, Meta, California

☆ Coral bleaching: Ocean heat is driving a mass bleaching event, and it could be the worst on record
▼ + stars: | 2024-04-15 | by ( Rebecca Wright | ) edition.cnn.com time to read: +6 min

CNN —Coral reefs around the world are experiencing a mass bleaching event as the climate crisis drives record-breaking ocean heat, two scientific bodies announced Monday — with some experts warning this could become the worst bleaching period in recorded history. If ocean temperatures don’t return to normal, bleaching can lead to mass coral death, threatening the species and food chains that rely on them with collapse. Professor Ove Hoegh-Guldberg, a climate scientist specializing in coral reefs based at the University of Queensland in Australia, predicted this mass bleaching event months ago. In February, scientists at the Coral Reef Watch program at NOAA added three new alert levels to the coral bleaching alert maps, to enable scientists to assess the new scale of underwater warming. Bex Wright/CNNIn mid-February, CNN witnessed extensive coral bleaching on Australia’s Great Barrier Reef – the world’s largest coral reef system – on five different reefs spanning the northern and southern areas.

Persons: ” Derek Manzello, Ove Hoegh, “, Guldberg, ”, Lillian Suwanrumpha, Niña, El, Manzello, ” Manzello, Lady Elliot, Bex Wright, Selina Stead, ” Stead, David Ritter Organizations: CNN, Atlantic, National Oceanic, Atmospheric Administration, Reef, Reef Watch, Pacific, University of Queensland, NOAA, Getty, Niña, Australian Institute of Marine Science, Park Authority, AIMS, UN, Greenpeace Locations: Pacific, Florida, Caribbean, Mexico, Brazil, Australia, Persian Gulf, Indonesia, Africa, Seychelles, Raja Ampat, Indonesia's West Papua, AFP, El, Lady, Greenpeace Australia

☆ Iran's attack on Israel could be bad for Russia's war in Ukraine
▼ + stars: | 2024-04-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewIran's attack on Israel on Saturday is bad not only for the Middle East, but also for Russia's war in Ukraine as new fault lines emerge between Moscow and Tehran. AdvertisementRussia has been installing itself as a military and diplomatic player in the Middle East for years. This is in part due to Moscow's preoccupation with its war in Ukraine, Grisé wrote. "Russia would be especially sensitive to Chinese attempts to encroach on its influence in the Middle East," Grisé wrote in her commentary. AdvertisementThis is especially so since Beijing managed to deliver results in March 2023, brokering a détente between Saudi Arabia and Iran, Grisé added.

Persons: —, Michelle Grisé, Grisé, Russia's, Israel —, Ursula von der Leyen, Vladimir Putin Organizations: Service, RAND, Business, Iran, European Commission Locations: Israel, Ukraine, Moscow, Tehran, American, Russia, Iran, Damascus, Syria, Libya, Iranian, Beijing, Saudi Arabia, China

☆ WhatsApp lowers minimum age in Europe to 13
▼ + stars: | 2024-04-12 | by ( Anna Cooban | Eve Brennan | ) edition.cnn.com time to read: +3 min

London CNN —Social media giant Meta has lowered the minimum age required to use WhatsApp in Europe to 13 from 16, sparking criticism from children’s rights advocates. The new minimum age of 13 was also announced for users in the United Kingdom in February. Vicky Ford, a UK lawmaker from the ruling Conservative Party and member of a key government committee on education, called the decision to lower the minimum age without speaking to parents first “irresponsible,” PA Media reported. Meta under fireMeta has been roundly criticized in the past for its push to lower age restrictions across platforms in the United States. Last year, the company said it was planning to reduce the minimum age for its virtual reality app from 13 to 10 years old, despite pressure from US lawmakers not to market such services to younger users.

Persons: —, ”, Daisy Greenwell, “, Vicky Ford, Mark Zuckerberg, Zuckerberg, Europe — Meta Organizations: London CNN — Social, Conservative Party, Media, CNN, European Commission, Meta, Facebook, Europe — Locations: Europe, United Kingdom, United States

☆ China says EU subsidy probes interfere with China, Europe cooperation
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: +1 min

Subsidy investigations started by the European Union interfere with the mutually beneficial cooperation between China and Europe, and China resolutely opposes them, a Chinese commerce ministry official said. Subsidy investigations started by the European Union interfere with the mutually beneficial cooperation between China and Europe, and China resolutely opposes them, a Chinese commerce ministry official said. The official, who was not identified in a statement released by the department on Thursday, believes the probes launched by the European Union so far are all aimed at Chinese new energy-related enterprises, which will seriously damage the confidence of its firms in carrying out investment and trade cooperation in the EU. The remarks came from the head of the Trade Remedies Bureau of the Chinese Ministry of Commerce in a meeting with Martin Lukas, director general of the trade defense department of the European Commission, in Brussels, according to the statement.

Persons: Martin Lukas Organizations: European Union, EU, Chinese Ministry of Commerce, European Commission Locations: European, China, Europe, Brussels

☆ Europe launches subsidies probe into Chinese wind turbine suppliers
▼ + stars: | 2024-04-09 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —The European Union has launched an investigation into China’s state support for its wind turbine companies, intensifying a push to protect Europe’s industry from a flood of cheap Chinese imports. Margrethe Vestager, the EU’s competition chief, said Tuesday that the probe would look into the development of wind farms in Spain, Greece, France, Romania and Bulgaria. The country’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion. Vestager’s announcement as part of a speech in Princeton, New Jersey, comes just days after the European Commission, the EU’s executive arm, opened a separate subsidies probe into Chinese companies bidding for a solar farm contract in Romania. In October, the European Commission launched an investigation into China’s subsidies for electric vehicle makers, which it suspects may be enabling these firms to keep prices super-low, creating unfair competition with European rivals.

Persons: Margrethe Vestager, ” Vestager, Vestager Organizations: London CNN, European Union, European Commission Locations: Spain, Greece, France, Romania, Bulgaria, China, Princeton , New Jersey, Europe, Beijing, United States

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