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LONDON (Reuters) - For Big Oil, coffee and chocolate could be the new black gold. Europe’s big oil firms, however, have another card to play: their vast global networks of filling stations. While the so-called marketing operations of big oil firms - retail sales of fuel, lubricants, groceries and TV dinners - usually contribute a smaller slice of profits than oil and gas production, they typically have higher margins. Total’s Chief Financial Officer Jean-Pierre Sbraire told investors in October that retail sales in Europe were back at pre-pandemic levels in the third quarter, even though fuel sales remained very weak. “Retail is the only thing in the oil and gas value chain that gets you closer to the customer.
Persons: Regis, Huibert, , Emma Delaney, Jean, Pierre Sbraire, Delaney, BP’s, Shell, Vigeveno, Mirko Rubeis, ” Delaney, Spencer, Jamie Oliver, Uber, Shell’s Vigeveno, , Boston Consulting Group’s, ” Rubeis Organizations: REUTERS, Royal, Shell, EV, Shell . U.S, Walmart, BP, Reuters, Boston Consulting Group, Tesco, Boston Consulting Locations: Latresne, Bordeaux, France, Europe, Shell ., , China, Britain, British, United States, Carrefour
FILE PHOTO: Former French President Valery Giscard d'Estaing attends the World Nuclear Exhibition 2014 (WNE), the trade fair event for the global nuclear energy sector, in Le Bourget, near Paris October 14, 2014. REUTERS/Benoit Tessier/File PhotoPARIS (Reuters) - Former French president Valery Giscard d’Estaing died on Wednesday from complications linked to COVID-19, his foundation said. “In accordance with his wishes, his funeral will take place in the strictest family intimacy,” the Foundation Valery Giscard d’Estaing said on Twitter. Giscard was admitted to hospital in September with respiratory problems. He recovered but was re-admitted in mid-November.
Persons: Valery Giscard d'Estaing, Benoit Tessier, Valery Giscard d’Estaing, Giscard Organizations: REUTERS, PARIS, Twitter Locations: Le Bourget, Paris
PARIS (Reuters) - Former French president Valery Giscard d’Estaing, a key architect of European integration who sought to liberalise the economy and social attitudes after years of conservative Gaullist rule, died on Wednesday. Giscard sought to project the image of a young, modern president who was closer to the people than his predecessors, inviting himself to dinner at ordinary folks’ homes and playing the accordion. Months before the referendum in 2016, he told Reuters his message to Britain was: “We love you. Giscard had said that although Diana was the inspiration behind the book, the story itself was pure fiction. For over three decades, Giscard held on to the title of France’s youngest president, until Emmanuel Macron blew apart the country’s political arena aged 39, nine years younger than Giscard was when elected.
Persons: Valery Giscard d’Estaing, Giscard, Helmut Schmidt, Socialist Francois Mitterrand, Edward Heath, David Cameron, Don’t, , Lady Diana, Diana, , ’ ” Giscard, Le, France’s, Emmanuel Macron Organizations: PARIS, Gaullist, West, European Monetary, Socialist, Britain, European Economic Community, European Union, Reuters Locations: Europe, West German, Britain, France, Netherlands
Former French President Giscard d'Estaing dies at 94
  + stars: | 2020-12-02 | by ( Michel Rose | Sarah White | ) www.reuters.com + 1.00   time to read: +2 min
PARIS (Reuters) - Former French President Valery Giscard d’Estaing, a key architect of European integration in the early 1970s, has died at the age of 94 after contracting COVID-19. Slideshow ( 5 images )Giscard, who was France’s leader from 1974 to 1981, had recently been hospitalised in Tours, in western France. Giscard was known for steering a modernisation of French society during his presidency, including allowing divorce by mutual consent and legalising abortion, and was one of the architects of European integration. He was also an ardent Anglophile, and took office a year after Britain joined the European Economic Community. Michel Barnier, who is the lead European Union negotiator in talks with Britain over Brexit, said: “For Valery Giscard d’Estaing, Europe needed to be a French ambition and France a modern nation.
Persons: Valery Giscard d’Estaing, Giscard, Charles de Gaulle’s, Francois Mitterrand, Nicolas Sarkozy, , Emmanuel Macron’s, Christophe Castaner, Helmut Schmidt, , Denis McShane, Michel Barnier Organizations: PARIS, French, West, European Monetary, Britain, European Economic, Twitter, Union Locations: Tours, France, Europe, West German
NEW YORK/LONDON/MILAN/MELBOURNE (Reuters Breakingviews) - Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. But Merck’s share price is down almost 10% this year, so reallocating capital makes sense. And with multiple vaccines likely to be approved and distributed in 2021 from competitors like Pfizer and BioNTech, it’s safe to assume that another sevenfold share price boom isn’t in the cards. The small WeWork rival on Wednesday raised 300 million pounds in funky debt that converts into equity, having tapped investors for 320 million pounds in fresh equity in May. But following the May fundraising he had nearly 900 million pounds to deploy.
Persons: Brian Snyder, Merck, It’s, Anna Szymanski, Alexey Mordashov, Neil Unmack, Jimmy Choo, Kate Spade, Philippe Bénacin’s, Christopher Thompson, Mark Dixon, Aimee Donnellan, Lisa Jucca, Josh Frydenberg, Jeffrey Goldfarb, Karen Kwok Organizations: Reuters, Corona, Moderna Therapeutics, REUTERS, Merck, Moderna, Pfizer, BioNTech, Benetton, Australian Bureau, Statistics, Group, SoftBank Group Locations: MILAN, MELBOURNE, Cambridge , Massachusetts, U.S, Moderna, sunseekers, Paris, Asia, France, United Kingdom, Europe, United States, Genoa, Rome, Italy, Victoria, China, Swedish, London
LONDON/MILAN/MELBOURNE (Reuters Breakingviews) - Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. Even with a recovery expected next year, debt of 3.9 billion euros will exceed four times EBITDA, according to Refinitiv data. Yet Tui’s bonds maturing in that same year have rallied from around 65% of par in May, to trade at around face value. The small WeWork rival on Wednesday raised 300 million pounds in funky debt that converts into equity, having tapped investors for 320 million pounds in fresh equity in May. But following the May fundraising he had nearly 900 million pounds to deploy.
Persons: Francois Lenoir, Alexey Mordashov, Neil Unmack, Jimmy Choo, Kate Spade, Philippe Bénacin’s, Christopher Thompson, Mark Dixon, Aimee Donnellan, It’s, Lisa Jucca, Josh Frydenberg, Jeffrey Goldfarb, Karen Kwok Organizations: Reuters, Corona, Brussels Airlines, Zaventem, REUTERS, Benetton, Australian Bureau, Statistics, Group, SoftBank Group Locations: MILAN, MELBOURNE, Brussels, Belgium, sunseekers, Paris, Asia, France, United Kingdom, Europe, United States, Genoa, Rome, Italy, Victoria, China, Swedish, London
“Employers are on shakier grounds because of the emergency use authorization,” Field said, adding there was no precedent for vaccine mandates during that phase. REGULATORY PATCHWORKIn Europe, companies face a patchwork of national vaccine regulation, with some countries mandating childhood vaccines, but European employers overall are unlikely to be able to mandate vaccination for staff, experts said. bit.ly/3lDbG9WU.S. agencies to date have not weighed in on COVID-19 vaccine mandates, but the Occupational Safety and Health Administration (OSHA) in the past has said employers have the right to mandate vaccines. VACCINE MANDATES UNLIKELYU.S. companies so far are shying away from discussing vaccine mandates, ahead of formal approval for a vaccine by the U.S. Food and Drug Administration. Vaccine mandates are common in the U.S. healthcare industry, where many hospitals require staff to take annual flu shots and all U.S. states mandate vaccines for school children.
Persons: Lee Smith, , Lawrence Gostin, Robert Field, Emmanuel Macron, Pauline Moritz, Morgan Lewis, Peter Meyers, Dorit Rubinstein Reiss, government’s Organizations: Reuters, Private U.S, COVID, John's Ambulance, Princess Anne Training Centre, REUTERS, “ Companies, Georgetown University, Gostin, Employment, Commission, Drexel University, , U.S, Occupational Safety, Health Administration, OSHA, U.S . Department of Health, Human Services, U.S . Food, Drug Administration, Ford Motor Co, Kellogg Co, George Washington University Law School, Pew, Supreme, ., UC Hastings, Pfizer Inc, Moderna Inc Locations: Derby, Britain, United States, France, Germany, Frankfurt, COVID, U.S
“Employers are on shakier grounds because of the emergency use authorization,” Field said, adding there was no precedent for vaccine mandates during that phase. REGULATORY PATCHWORKIn Europe, companies face a patchwork of national vaccine regulation, with some countries mandating childhood vaccines, but European employers overall are unlikely to be able to mandate vaccination for staff, experts said. bit.ly/3lDbG9WU.S. agencies to date have not weighed in on COVID-19 vaccine mandates, but the Occupational Safety and Health Administration (OSHA) in the past has said employers have the right to mandate vaccines. VACCINE MANDATES UNLIKELYU.S. companies so far are shying away from discussing vaccine mandates, ahead of formal approval for a vaccine by the U.S. Food and Drug Administration. Vaccine mandates are common in the U.S. healthcare industry, where many hospitals require staff to take annual flu shots and all U.S. states mandate vaccines for school children.
Persons: Lee Smith, , Lawrence Gostin, Robert Field, Emmanuel Macron, Pauline Moritz, Morgan Lewis, Peter Meyers, Dorit Rubinstein Reiss, government’s Organizations: Reuters, Private U.S, COVID, John's Ambulance, Princess Anne Training Centre, REUTERS, “ Companies, Georgetown University, Gostin, Employment, Commission, Drexel University, , U.S, Occupational Safety, Health Administration, OSHA, U.S . Department of Health, Human Services, U.S . Food, Drug Administration, Ford Motor Co, Kellogg Co, George Washington University Law School, Pew, Supreme, ., UC Hastings, Pfizer Inc, Moderna Inc Locations: Derby, Britain, United States, France, Germany, Frankfurt, COVID, U.S
FILE PHOTO: Iran's Supreme Leader Ayatollah Ali Khamenei delivers a virtual speech, on the occasion of the Prophet Mohammad's birthday, in Tehran, Iran November 3, 2020. Official Khamenei Website/Handout via REUTERSIn retaliation for the killing last week of Iran’s top nuclear scientist, which Tehran has blamed on Israel, Iran’s hardline-dominated parliament on Tuesday approved the bill with a strong majority that will harden Iran’s nuclear stance. In reaction to U.S. President Donald Trump’s “maximum pressure” policy on Tehran, Iran has gradually reduced its compliance with the deal. Biden has said he would return to the pact and would lift sanctions if Tehran returned to “strict compliance with the nuclear deal”. Under the new law, the government should resume uranium enrichment to 20% and install advanced centrifuges at its Natanz and Fordow nuclear facilities.
Persons: Ayatollah Ali Khamenei, Washington, Donald Trump’s, Joe Biden, Biden, Iran’s, Hassan Rouhani, parliament’s, Organizations: Reuters, REUTERS, Guardian Locations: DUBAI, Tehran, Iran, Israel, U.S, Britain, France, Germany
ECB looking at more than two instruments to help euro zone: Lane
  + stars: | 2020-12-02 | by ( Balazs Koranyi | ) www.reuters.com + 0.00   time to read: +3 min
FRANKFURT (Reuters) - The European Central Bank will look at more than its two hallmark instruments to support an economy that faces permanent damage from a pandemic-induced recession, ECB chief economist Philip Lane told Reuters. FILE PHOTO: Executive Board member of the European Central Bank Philip Lane attends the Fortune Global Forum in Paris, France, November 18, 2019. REUTERS/Gonzalo Fuentes//File PhotoWith the bloc heading for a double-dip recession, the ECB has already promised help through emergency bond buys and liquidity facilities, but Lane said more instruments could be discussed when policymakers meet on Dec. 10. “I think it’s important not to infer that we are only looking at two programmes,” Lane told the Reuters Global Investment Outlook Summit, 2021. Lane also downplayed the significance of four straight months of negative inflation readings, saying much of the dip will be reversed automatically when the economy revives.
Persons: Philip Lane, European Central Bank Philip Lane, Gonzalo Fuentes, Lane, , ” Lane, Organizations: European Central Bank, Global, REUTERS, ECB, Reuters Global Investment Outlook, Reuters Locations: FRANKFURT, Paris, France
FILE PHOTO: Russian peacekeepers drive an armoured personnel carrier near Arutyunagomer, in the region of Nagorno-Karabakh, November 14, 2020. REUTERS/Stringer/File PhotoANKARA (Reuters) - Construction work has started on a joint Turkish-Russian centre to monitor a ceasefire in the mountain enclave of Nagorno-Karabakh, Turkish Defence Minister Hulusi Akar said on Wednesday. Turkey has no peacekeepers in the region but said it had finalised an agreement with Russia on setting up the joint centre to monitor the ceasefire. Turkey backs Azerbaijan over Nagorno-Karabakh, and has criticised the co-chairs of the OSCE’s so-called Minsk Group for not resolving the long-running conflict in decades of mediation. The Minsk Group is led by the United States, France and Russia.
Persons: Stringer, Hulusi Akar, ” Akar Organizations: REUTERS, Turkish Defence, Minsk Group Locations: Arutyunagomer, Nagorno, Karabakh, ANKARA, Turkish, Russian, Azerbaijan, , Armenia, Russia, Turkey, Minsk, United States, France
European governments took a step closer to shutting down the Christmas ski season in the Alps, in an attempt to prevent vacationers from reigniting the continent’s Covid-19 pandemic like last summer. The decision by Austria, Europe’s biggest destination for international ski tourism, follows a diplomatic clash over whether it is safe to let people ski the Alps. Berlin, Rome and Paris have pressured Austria to join a continentwide crackdown on ski trips. Alpine tourism was a major spreader of coronavirus infections in early 2020. After Europe slowed infections to a trickle with stringent lockdowns this spring, a return to mass travel for summer vacations contributed greatly to a resurgence in coronavirus cases.
Locations: Germany, Italy, France, Austria, Europe’s, Berlin, Rome, Paris, Europe
Interpol warns that COVID-19 vaccines could be targeted by criminals
  + stars: | 2020-12-02 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: Vials labelled "COVID-19 Coronavirus-Vaccine" and medical syringe are placed on the European Union map in this picture illustration taken December 2, 2020. REUTERS/Dado Ruvic/IllustrationPARIS (Reuters) - The Interpol global police co-ordination agency warned on Wednesday that organised criminal networks could be targeting COVID-19 vaccines, and could look to sell fake shots. Interpol, which is headquartered in France, said it had issued a global alert to law enforcement across its 194 member countries, warning them to prepare for organised crime networks targeting COVID-19 vaccines, both physically and online. “As governments are preparing to roll out vaccines, criminal organisations are planning to infiltrate or disrupt supply chains. Criminal networks will also be targeting unsuspecting members of the public via fake websites and false cures, which could pose a significant risk to their health, even their lives,” said Interpol secretary general Juergen Stock.
Persons: Dado Ruvic, Organizations: European, REUTERS, PARIS, Interpol Locations: France
Surviving the pandemic: Lessons from Germany's Mittelstand
  + stars: | 2020-12-02 | by ( Paul Carrel | Tom Sims | ) www.reuters.com + 0.00   time to read: +8 min
BERLIN/FRANKFURT (Reuters) - In Germany’s industrial heartland, engineering firms have come up with a recipe for surviving the coronavirus pandemic. Bertram Kandziora, CEO of German engineering company Stihl, poses for a picture following an interview with Reuters in Waiblingen, Germany, November 30, 2020. Moreover, 90% of German companies - specialist engineering firms featuring prominently among them - are family controlled, says the BVMW Mittelstand association. For a graphic on German engineering firms seek to ringfence investment:‘HUGE OPPORTUNITY’Success stories like Stihl’s belie a mixed COVID-19 picture in Germany. Commerzbank, however, says many industrial Mittelstand companies have the financial buffers to ride out the storm.
Persons: Bertram Kandziora, Kai Pfaffenbach, It’s, Stihl, , Niko Mohr, ” Kandziora, Michael Hehl, , Patrik, Ludwig Hantzsch, Creditreform, Christine Rademacher, Stephan Seifert, Martin Lehner, Stefan Brandl, Joerg Stratmann, Joseph Schumpeter Organizations: Reuters, REUTERS, Commerzbank, Union, European Statistics Office, Eurostat, HIT, European Central Bank, McKinsey, Arburg GmbH, Germany’s Mechanical Engineering Industry Association, Association of German, of Industry and Commerce, Wacker Neuson, MAHLE GmbH Locations: FRANKFURT, Waiblingen, Germany, spruced, Spain, Italy, France, United Kingdom, Stuttgart, insolvencies, Hamburg, Munich, Mulfingen, Austrian
With no Lebanese political progress, France pushes aid meeting
  + stars: | 2020-12-02 | by ( John Irish | ) www.reuters.com sentiment -0.97   time to read: +2 min
FILE PHOTO: French President Emmanuel Macron speaks during a news conference on the political situation in Lebanon in Paris, France September 27, 2020. Having seen deadlines to form a government pass and political talks stall, Macron opted to go ahead with an aid conference to take stock of the situation. However, officials have made it clear that Lebanon will not be bailed out without reforms and that any aid will only be to help recovery. A fund managed by the World Bank will also be created in the coming weeks to channel humanitarian aid through U.N. agencies and nongovernmental organisations. “When there’s no Plan B, France always organises a conference,” said a Western diplomat, adding that the Lebanon situation was unlikely to evolve before a new U.S. administration was firmly in place.
Persons: Emmanuel Macron, Lewis Joly, , Macron Organizations: PARIS, REUTERS, United Nations, World Bank Locations: Lebanon, Paris, France, United States, French, U.N, Western, U.S
Lebanese political stalemate leaves France pushing aid meeting
  + stars: | 2020-12-02 | by ( John Irish | ) www.reuters.com + 0.00   time to read: +2 min
PARIS (Reuters) - President Emmanuel Macron will try to revive a French initiative on Lebanon when he hosts an international aid conference on Wednesday evening, but with the country’s fractious political class bickering, hopes of a breakthrough appear slim. FILE PHOTO: French President Emmanuel Macron speaks during a news conference on the political situation in Lebanon following Lebanon's Prime Minister-designate Moustapha Adib resignation, in Paris, France September 27, 2020. “To borrow or lend money you need trust and trust isn’t there,” a French presidential official told reporters in a briefing. He is due to visit French troops operating as part of a U.N. peacekeeping mission in Lebanon around Dec. 20, diplomats said. Having seen deadlines to form a government pass and political talks stall, Macron opted to go ahead with an aid conference to take stock of the situation.
Persons: Emmanuel Macron, Moustapha Adib, Lewis Joly, , Macron Organizations: PARIS, Lebanon's, REUTERS, United Nations, International Monetary Fund Locations: Lebanon, Paris, France, United States, French, “ Lebanon, Western, U.S
FILE PHOTO: French President Emmanuel Macron speaks during a news conference on the political situation in Lebanon following Lebanon's Prime Minister-designate Moustapha Adib resignation, in Paris, France September 27, 2020. Lewis Joly/Pool via REUTERSEmmanuel Macron is trying to revive a French initiative on Lebanon, but with the country’s fractious political class bickering, hopes of a breakthrough anytime soon appear slim. Macron, a natural ally given Lebanon is a former French colony, has invested a lot of political capital in trying to break the deadlock, vowing not to give up on the Lebanese. He is due to visit French troops operating as part of a U.N. peacekeeping mission in Lebanon around Dec. 20, diplomats said. “Lebanon will not escape this type of audit if it wants serious negotiations with the International Monetary Fund.
Persons: Emmanuel Macron, Moustapha Adib, Lewis Joly, REUTERS Emmanuel Macron, ” Macron, , Organizations: PARIS, Lebanon's, REUTERS, World Bank, United Nations, European Union, International Monetary Fund Locations: Lebanon, Paris, France, United States, French
WELLINGTON (Reuters) - New Zealand promised its public sector would become carbon neutral by 2025 as it declared a climate emergency on Wednesday, a symbolic move that critics said needed to be backed with greater actions to reduce emissions. New Zealand joins 32 other countries including Japan, Canada, France and Britain that have declared a climate emergency. In her first term she passed a Zero Carbon Bill, which sets the framework for net zero emissions by 2050 with an exemption for farming, and banned new offshore oil and gas exploration. The government on Wednesday promised the public sector will achieve carbon neutrality by 2025. “For Jacinda Ardern’s climate emergency declaration to be more than just words, that means tackling New Zealand’s largest source of climate pollution: agriculture,” said Greenpeace agriculture and climate campaigner Kate Simcock.
Persons: Jacinda Ardern, ” Ardern, , Kate Simcock Organizations: WELLINGTON, Reuters, New Zealand, National Party, Labour Party, Wednesday, Greenpeace, Zealand Locations: New, , New Zealand, Japan, Canada, France, Britain
SYDNEY (Reuters) - The United States has called China’s use of a digitally manipulated image of an Australian soldier a “new low”, weighing in on the dispute between Canberra and Beijing over the tweet. State Department deputy spokesman Cale Brown said the fabricated image of the soldier was “a new low, even for the Chinese Communist Party”. China on Friday imposed dumping tariffs of up to 200% on Australian wine imports, effectively shutting off the largest export market for the Australian wine industry, amid a worsening diplomatic dispute that has seen a serious of trade reprisals imposed by China. A group of parliamentarians from 19 countries that has lobbied against China’s actions in Hong Kong and Xinjiang campaigned on social media for the public to drink Australian wine. Taiwan’s foreign ministry said on Twitter it would serve Australian wine.
Persons: Scott Morrison, Issei Kato China, Scott Morrison’s, Zhao Lijian, Cale Brown, ” Brown, Zhao “, , Zhao, Morrison, WeChat, Zhao’s, Organizations: SYDNEY, United, Australian, REUTERS, U.S . State Department, Chinese Communist Party . State Department, Chinese Communist Party, Twitter Locations: United States, Australian, Canberra, Beijing, Tokyo, Japan, New Zealand, France, Taiwan, Australia, Xinjiang, Afghanistan, China’s, Paris, China, Hong Kong
SYDNEY (Reuters) - The Chinese social media platform WeChat blocked a message by Australia Prime Minister Scott Morrison amid a dispute between Canberra and Beijing over the doctored tweeted image of an Australian soldier. Morrison took to WeChat on Tuesday to criticise the “false image”, while offering praise to Australia’s Chinese community. China’s embassy has said the “rage and roar” from Australian politicians and media over the soldier image was an overreaction. China’s embassy in Paris hit back on Wednesday, saying the soldier image was a caricature by a painter, adding that France has previously loudly defended the right to caricature. China on Friday imposed dumping tariffs of up to 200% on Australian wine imports, effectively shutting off the largest export market for the Australian wine industry.
Persons: Scott Morrison, Issei Kato China, Morrison’s, Zhao Lijian, Morrison, WeChat, Cale Brown, ” Brown, Zhao “, Zhao’s, Organizations: SYDNEY, Australia, Australian, REUTERS, U.S . State Department, Chinese Communist Party . State Department, Chinese Communist Party, Twitter Locations: Canberra, Beijing, Tokyo, Japan, United States, Afghanistan, Australia, WeChat, New Zealand, France, Taiwan, China, Xinjiang, China’s, Paris, Hong Kong, farwestern
China's WeChat blocks Australian PM in doctored image dispute
  + stars: | 2020-12-02 | by ( Kirsty Needham | ) www.reuters.com + 0.00   time to read: +4 min
SYDNEY (Reuters) - China’s WeChat social media platform blocked a message by Australia Prime Minister Scott Morrison amid a dispute between Canberra and Beijing over the doctored tweeted image of an Australian soldier. Morrison took to WeChat on Tuesday to criticise the “false image”, while offering praise to Australia’s Chinese community. China’s embassy has said the “rage and roar” from Australian politicians and media over the soldier image was an overreaction. ‘HYPOCRISY IS OBVIOUS TO ALL’Australia was seeking to “deflect public attention from the horrible atrocities by certain Australian soldiers”, it said. WeChat has 690,000 active daily users in Australia, and in September told an Australian government inquiry it would prevent foreign interference in Australian public debate through its platform.
Persons: Scott Morrison, Issei Kato China, Morrison’s, Zhao Lijian, Morrison, WeChat, Jake Sullivan, Joe Biden, , Zhao “, Prophet Mohammad, Zhao’s, Organizations: SYDNEY, Australia, Australian, REUTERS, U.S . State Department, Chinese Communist Party, U.S, Twitter Locations: Canberra, Beijing, Tokyo, Japan, United States, Afghanistan, Australia, WeChat, New Zealand, France, Taiwan, China, “ America, China’s, Paris
They forecast the S&P 500 index would rise to 4,000 points in 2021. That could simultaneously mean vacant former restaurant spaces, unemployed restaurant workers, and restaurant entrepreneurs bankrupted and in no position to start over. Mr. Adeyemo would be part of a history-making duo at Treasury: He would be the first Black deputy at the Treasury, serving with the first female secretary, Janet L. Yellen. The soft-spoken and deliberate Mr. Adeyemo’s approach will provide a stark contrast to the Trump administration’s combative tone in economic diplomacy. That multilateral approach to dealing with China could be a complication for Mr. Adeyemo at his confirmation hearing, as Republicans have become accustomed to Mr. Trump’s confrontational stance.
Persons: Joseph R, Biden, , Mike Bell, DAX, Joe Brusuelas, Neil Irwin, Kevin Boehm, Biden’s, Janet Yellen, Cecilia Rouse, Kriston Jae Bethel, The New York Times Cecilia Rouse Friends, Rouse, Jim Tankersley, Austan Goolsbee, Obama, Lyft, Adeyemo, Wally, Alan Rappeport, Janet L, Adeyemo’s Organizations: West Texas, Pfizer, European Union, Republicans, Barclays, Asset Management, , Britain, CAC, Nikkei, Excel, BioNTech, Urban Institute, Independent Restaurant Coalition, RSM, Swift &, of Economic Advisers, Treasury Department, ., The New York Times, Senate, Treasury, Trump, Center for Strategic, International Studies, BlackRock Locations: United States, Europe, France, Germany, Japan, Hong Kong, Britain, BioNTech . State, Chicago, U.S, China
Opinion | Biden Wants America to Lead the World. It Shouldn’t.
  + stars: | 2020-12-02 | by ( Peter Beinart | ) www.nytimes.com + 0.00   time to read: +3 min
“Whether we like it or not, the world simply does not organize itself,” Mr. Blinken has said. After the United States announced that it was leaving the Paris climate agreement, not a single other signatory followed it out the door. This summer, after the Trump administration threatened to leave the World Health Organization, France and Germany promised to increase their contributions. For 20 years, Gallup has been asking Americans whether the United States should play “the leading role,” a “major role,” a “minor role” or “no role at all” in world affairs. It’s not ordinary Americans who believe the United States must “sit at the head of the table,” as Mr. Biden said last week.
Persons: , ” Mr, Blinken, Trump, , , Biden, Martin Luther King Jr, Rather, King, Peter Beinart Organizations: United States, European Union, World Health Organization, Gallup, Chicago Council, Global Affairs, United, Biden, Trump, Newmark Graduate School of Journalism, City University of New, New York, Facebook, Twitter Locations: United States, Paris, China, Japan, South Korea, France, Germany, Vietnam, City University of New York
The new announcement, combined with the defense outlook in Europe and the US, leaves JPMorgan equity analysts with a positive view on the sector. The UK equity market has been upgraded to neutral, despite what analysts describe as the "worst-performing equity region" this year. Defense outlookIn addition to the UK's decision on defense spending, political developments in three countries in particular have made JPMorgan more optimistic on the sector:1. France announced plans to increase defense spending in 2021 by 4.5%. If Republicans maintain control of the US Senate in January's runoff elections, the resulting political gridlock would make major cuts to defense spending unlikely.
Persons: Boris Johnson, Johnson, David Perry, Mislav Matejka, Matejka, Perry Organizations: BAE Systems, Thales, Royce, JPMorgan, Global, International Air Transport Association, Airlines Locations: Europe, France, Germany, January's
No CFO indicated they think it is "very likely" that a corporate tax hike is coming, though a little under one-third of chief financial officers (32%) indicated they do think it is "somewhat likely" Biden achieves his corporate tax goal. Where tax policy experts think Biden can act"Absent single party control, it will be extremely challenging for the Biden Administration to legislatively roll back the 2017 tax reform," Caroline Harris, the U.S. Chamber of Commerce's vice president, tax policy and economic development, and chief tax policy counsel, wrote in an email to CNBC. "Biden's biggest revenue-raisers are an increase in the corporate tax rate from 21 percent to 28 percent and a provision to impose the Social Security payroll tax on wages above $400,000. Biden's plan would combine this new tax break with several corporate tax increases, including new taxes on U.S. firms with overseas income. "The consensus seems to be that Biden will attempt to raise corporate taxes and be unsuccessful in doing so.
Persons: Donald J, Joe Biden, Brendan Smialowski, Biden, Joe Biden's, Caroline Harris, Harris, Howard Gleckman, Garrett Watson, Trump, Biden's, Gleckman, Watson, Janet Yellen —, Joe Manchin, Thomas Friedman, Mitch McConnell, Friedman, Bush, Jack McCullough, McCullough, CFOs, Diane Swonk, Grant Thornton Organizations: Trump, White, AFP, Getty, Dow Jones, D.C, CNBC Global, Survey, Senate, Biden Administration, U.S . Chamber, CNBC, Tax Foundation, Social Security, Tax, Democratic, Republican, Washington D.C, Biden, GOP, Treasury, Democratic Party, New York Times, Fortune, Georgia Senate, Leadership, U.S Locations: Washington , DC, Washington, North America, Georgia, U.S, China, France, West Virginia, Covid, America, Europe
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